My New Blog

San Antonio Mortgages

March 24, 2011 - San Antonio is in a unique place within the housing industry. We are sheltered “in some ways” by the ongoing mortgage and housing crises. While some areas are secure others are seeing a large increase in foreclosures. It seems as though many middle class areas of town such as the area east of I-10 and Huebner are seeing their fair share of foreclosures. As a Loan Officer here in town I have seen several refinance transaction fall through due to local foreclosures causing decreased appraised values. No investor/Lender will loan more money than a home is worth based on an appraisal. This has caused an issue because rates are low and people want to refinance. In many cases a San Antonio resident can save hundreds of dollars every month by refinancing their mortgage.

On the other end of the spectrum we have areas like 281 outside of loop 1604 and the Stone Oak area of San Antonio were homes are selling like hot cakes. The Sonterra area in San Antonio has seen a great increase in population due to an influx of wealthy Mexican nationals moving to San Antonio to get away from security issues down south. Many of these people are paying cash for homes as Sonterra is affectionately called “Little Monterey” now by Mexican nationals.

Overall, I see San Antonio and central Texas sitting pretty nice and I see even more wealthy Mexican nationals moving to our town and bringing in lots of capital. How this will balance out for the mortgage industry in San Antonio and Texas with the new Federal rulings having a negative impact on my industry? I guess only time will tell, I think I’ll keep my hand in the game a little longer.

On a side, if you’re in Texas and need a mortgage, purchase or refinance, and you want to deal with a Loan Officer that knows the business do not hesitate to click on the link below, I’d like to work with you.

Samuel Morales

TSLD: 56991

Samuel@yourloanofficer4life.com

Sister sites: www.streamlinefha.org www.mortgageratenotifier.com www.streamlinefha.net

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