The Changing Dynamics

The 2008 recession marked the beginning of the housing crisis across the United States. People lost their jobs, businesses failed and the stock market was plummeting. People failed to honor their mortgage installments, pay their taxes and so on. These liabilities resulted in the banks and lenders foreclosing innumerable properties.

Banks and lenders are businesses, who earn their income by providing loans. Although they possess the foreclosed properties, they are keener on selling the property and clearing their dues rather than holding on to the property. Holding the property itself burdens these banks and lenders with an approximate cost of $1,000 per day, including taxes, maintenance costs and legal fees.  The bank's goal is to sell the property as soon as possible. It is not uncommon for a lender to sell properties at deep discounts.

However, the market is reviving; the number of foreclosures that were on a steady rise is now dwindling down. In 2006, the number of housing units filing foreclosures was 717,222. It touched the peak after recession. 2,871,891 housing units had filed foreclosure in the year 2010 alone. With the turn of the economy, the number of foreclosure filings has been falling steadily. In 2014, the number of foreclosure filings stood at 1,117,426. The American neighborhood is now witnessing a revival from the housing crisis.

However, you can still earn handsomely by investing in Texas investment homes. You just need to tread carefully. Falling foreclosures is equivalent to increased competition. For a win-win situation, you need to act diligently, be patient and knowledgeable about the current trends and growth hot spots.