Help! Need info. Why so many foreclosures/low prices at Canyon Crossing (78252)??

Asked by, Fri Jul 20, 2012

Relocating to SA in August and drove by this relatively new neighborhood that appears to be well kept, clean, and close to Northwest Vista College. Homes are well within my price range and new but feel it must be too good to be true. What's the deal here?? Why are there so many foreclosures and why are the prices so low for these relatively new homes?? What's the crime like in this neighborhood??

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Gregory Touchstone’s answer
Gregory Touc…, Agent, San Antonio, TX
Fri Jul 20, 2012
That is a touchy subject. I have seen many reasons for it but it would be challenging to answer without backlash from other sources. If you want to message me, perhaps I can make things clearer to you. I had a client looking to buy one of the foreclosures, but I finally convinced him to find a home elsewhere.
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Darrell D. D…, Agent, Schertz, TX
Fri Jul 20, 2012

It has to do with the age of the subdivision. Canyon Crossing is just one of those areas where most of the subdivision was built during the height of the housing market (2006-2009). This means most people that bought in this area paid top dollar for their homes, since most homes capped out between that time.

People that wanted to move later could not because the value of their homes in 2011 to present was less than they paid and usually less than they owed. Couple this with the shift in the economy over the last few years and the subdivision was just built at the wrong time for anyone that wanted/needed to move or anyone that had their employment affected by the economy. Many homes were lost to foreclosure in this subdivision and even several of the active listings currently on the market now are short sales.

Darrell D. Drouillard
Home Team of America
16719 Huebner Rd., Bldg 4
San Antonio, Texas 78248
210-881-6760 (Fax)

'Serving all Your Real Estate Needs'
0 votes
Thanks for the insight Darrell!
Flag Sat Jul 21, 2012
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