Foreclosed Homes In The Houston Area
Foreclosures are skyrocketing in Houston and surrounding counties. In the past, we would see a few foreclosures a month as far
as home inspections are concerned. Over the past year, we are seeing twice that number or more each month. Keep in mind that
the Houston home market is fairing much better than most cities across the US. Foreclosures are not your smaller homes either,
most are 3000 square foot homes or larger. Lots of our clients are using the flux in the market to upgrade and others are picking
these larger homes for investment opportunities. More and more we're seeing larger homes for sale in nice gated communities.
ATEX Inspects is your preferred foreclosed home inspector for Houston, Alvin, Pearland, Pasadena, Missouri City, Friendswood,
Katy, Sugar Land, Spring, Galveston, Texas City and all areas in the greater Houston area.
What Has Caused The Increase In Foreclosures In our area and in the Home Inspection Market? What we are seeing and what
real estate professionals in the real estate market are telling us, the main issues affecting the market and producing many of these
Foreclosures are due to one or combinations of several of the following conditions:
1. ARM (Adjustable Rate Mortgages)
2. Low or No Down Mortgages
3. Buyers exceeding their purchasing abilities
4. Under estimated property taxes
The ARM's seem to be leading the way. Most buyers who fall prey to foreclosures waited too late or have little or no credit to be
in a position to correct the situation the ARM interest rates would place them in when they matured. Lack of knowledge about
ARM loans seems to have contributed a lot to the current conditions.
The largest issues we are see in foreclosed homes in the Houston area are the previous owners. I've seen homes totally stripped
of all light fixtures, outlets, switches, breaker boxes, furnaces, air conditioners, built in appliances, broken windows, holes in
Sheetrock, defecation on floors and walls, urine stains (and smells) in the carpet and the list goes on.
Unless you can find a foreclosed house in great shape, you'd better plan on doing some fix up work. You'd think that most of these
Houston foreclosed homes would be steals, but most are not. I've seen some of these homes in poor shape that were only 10k
under the going rate for a particular neighborhood. Apparently the mortgage company was either trying to make a profit with equity
or had no idea of what the home was really worth when they lent the money to the former owners.
Make sure the property you're looking at has everything it's suppose to. You know, things like the appliances, HVAC system, etc.
Next, find out how long the home has been sitting. If you walk in and it has a musky stale odor about it, chances are it has been
closed up a while.
Get a Professional Home Inspection! Previous owners have been known to leave little surprises behind for the next owners. I'm
not saying your inspector will find all of them, but he/she can reduce the numbers of surprises. Before you schedule the
inspection, see what steps you'll have to do so that all utilities are on at the time of inspection (gas, water,electric). Also make sure
you and your inspector can gain entrance to the property.
While there, walk around and see what the home needs. Take a notepad and write these things down. I'm not talking about stuff
on your inspectors list. Just the stuff you can see at the moment. Windows, doors, Sheetrock, paint, carpet, etc. You can then
drop by one of the DIY stores and start getting an idea of what it'll cost you to start repairs.
Check with the local area Utility Companies - Gas, Water, Electric, Cable, Phone - to see whether or not a balance is owed. In
some areas, no matter who owns the home, they will not restore service until the bill is paid in full. You don't want to close on your
new-found foreclosed home only to find out there's a $1500 electric bill that needs paid in full before they will begin your service.
Or worse yet, you move-in on the week of the Super Bowl and find you the previous owners have cut all the cable lines in the
attic and left you with a whopping cable bill to catch up on
ATEX Inspects is the preferred Home Inspection Company serving all the greater Houston area and beyond. No real estate job is
out of our reach, let us assist with your inspection needs today.
If you are considering the purchase of a foreclosed home, I highly recommend having your home inspected by a professional
Houston home inspector - now is the time to contact Robert at ATEX Inspects, your professional Home Inspector at 281-216-1171
or by web request at: www.atexinspects.com
SITE MAP
Foreclosures are skyrocketing in Houston and surrounding counties. In the past, we would see a few foreclosures a month as far
as home inspections are concerned. Over the past year, we are seeing twice that number or more each month. Keep in mind that
the Houston home market is fairing much better than most cities across the US. Foreclosures are not your smaller homes either,
most are 3000 square foot homes or larger. Lots of our clients are using the flux in the market to upgrade and others are picking
these larger homes for investment opportunities. More and more we're seeing larger homes for sale in nice gated communities.
ATEX Inspects is your preferred foreclosed home inspector for Houston, Alvin, Pearland, Pasadena, Missouri City, Friendswood,
Katy, Sugar Land, Spring, Galveston, Texas City and all areas in the greater Houston area.
What Has Caused The Increase In Foreclosures In our area and in the Home Inspection Market? What we are seeing and what
real estate professionals in the real estate market are telling us, the main issues affecting the market and producing many of these
Foreclosures are due to one or combinations of several of the following conditions:
1. ARM (Adjustable Rate Mortgages)
2. Low or No Down Mortgages
3. Buyers exceeding their purchasing abilities
4. Under estimated property taxes
The ARM's seem to be leading the way. Most buyers who fall prey to foreclosures waited too late or have little or no credit to be
in a position to correct the situation the ARM interest rates would place them in when they matured. Lack of knowledge about
ARM loans seems to have contributed a lot to the current conditions.
The largest issues we are see in foreclosed homes in the Houston area are the previous owners. I've seen homes totally stripped
of all light fixtures, outlets, switches, breaker boxes, furnaces, air conditioners, built in appliances, broken windows, holes in
Sheetrock, defecation on floors and walls, urine stains (and smells) in the carpet and the list goes on.
Unless you can find a foreclosed house in great shape, you'd better plan on doing some fix up work. You'd think that most of these
Houston foreclosed homes would be steals, but most are not. I've seen some of these homes in poor shape that were only 10k
under the going rate for a particular neighborhood. Apparently the mortgage company was either trying to make a profit with equity
or had no idea of what the home was really worth when they lent the money to the former owners.
Make sure the property you're looking at has everything it's suppose to. You know, things like the appliances, HVAC system, etc.
Next, find out how long the home has been sitting. If you walk in and it has a musky stale odor about it, chances are it has been
closed up a while.
Get a Professional Home Inspection! Previous owners have been known to leave little surprises behind for the next owners. I'm
not saying your inspector will find all of them, but he/she can reduce the numbers of surprises. Before you schedule the
inspection, see what steps you'll have to do so that all utilities are on at the time of inspection (gas, water,electric). Also make sure
you and your inspector can gain entrance to the property.
While there, walk around and see what the home needs. Take a notepad and write these things down. I'm not talking about stuff
on your inspectors list. Just the stuff you can see at the moment. Windows, doors, Sheetrock, paint, carpet, etc. You can then
drop by one of the DIY stores and start getting an idea of what it'll cost you to start repairs.
Check with the local area Utility Companies - Gas, Water, Electric, Cable, Phone - to see whether or not a balance is owed. In
some areas, no matter who owns the home, they will not restore service until the bill is paid in full. You don't want to close on your
new-found foreclosed home only to find out there's a $1500 electric bill that needs paid in full before they will begin your service.
Or worse yet, you move-in on the week of the Super Bowl and find you the previous owners have cut all the cable lines in the
attic and left you with a whopping cable bill to catch up on
ATEX Inspects is the preferred Home Inspection Company serving all the greater Houston area and beyond. No real estate job is
out of our reach, let us assist with your inspection needs today.
If you are considering the purchase of a foreclosed home, I highly recommend having your home inspected by a professional
Houston home inspector - now is the time to contact Robert at ATEX Inspects, your professional Home Inspector at 281-216-1171
or by web request at: www.atexinspects.com
SITE MAP
| Foreclosed Homes Inspections in Houston Texas |
| General Information About Foreclosed Homes In The Greater Houston Area |
