Wednesday, July 8, 2009

Foreclosures in Schertz, TX

I am on the Schertz, TX Economic Development Corporation Board of Directors and was asked to provide some information on foreclosures in the city. Our financial folks are in the process of updating the city's bond ratings with some big New York banks and needed current data. Here is what is real for us:
Currently Schertz has five (5) listed foreclosures! For a population of ver 33,000 that is an impressive number. We historically have 8-10, but recent sales have reduced the inventory and we are not adding much to it. If we had out "little" tri-city area of Selma, Cibolo, and Schertz, we have 13 listed for a population of close to 50,000.
We have had 10 foreclosures sold in Schertz in the last six months, and 23 when the tri-city is combined. Again, not what everyone expected to hear....they all thought we are experiencing historically high levels, when in fact, it is just the opposite!
Schertz and the central Texas region is in great shape and we are proud to have such a solid eceonomic base to work with. Sure, things are slow compared to a couple of years ago, but we are still moving forward.
If you want any information on our great little town, let me know!