San Luis

San Luis is situated towards the Southwestern part of Arizona. It is located within the Yuma County in US. It was established in the year 1930 so that it could serve as a port of entry for United States into Mexico.

As of 2009, the population of San Luis in Arizona was 23, 810. The rate at which the population of this place has been growing is approximately 47.72%.
Owing to the fact that the standard of living here is comparatively lower as compared to the other places in United States has made it possible for the people of this place to survive the credit crunch. Following slump in real estate in San Luis, people are finding it hard to meet their basic financial obligations. This has given rise to abuse of plastic money.

Real Estate in San Luis

The real estate market in San Luis didn’t go unscathed in the mortgage crisis. Residential as well as commercial property deals suffered miserably. Business stalwarts like Lehman Brothers had to declare bankruptcy. If such corporate giants were not spared, how can we expect the local real estate market participants to survive this deadly liquidity crunch?
In fact, there were many real estate agents in San Luis who had to switch over to a different profession only to earn some cash.

Slump in real estate in San Luis gives rise to plastic money abuse

Statistics prove that an average American household has as many as 12-14 credit cards. Their dependence on plastic money has become so pronounced following the real estate crisis that people are using plastic money for grocery shopping too. A tendency to borrow from Mary to pay off Maria is catching up real fast. And this has eventually led people into a vicious cycle of debt.

Housing Prices

Statistical data indicating the real estate scenario in San Luis
The value of condominium/house (median) as of 2008 was USD$136, 693.
The value mentioned above (USD$136, 693) was recorded as USD$64, 500 in the year 2000. So, there was a steady rise in the values until these values ceased to grow following the real estate slump.

Mean prices of property in San Luis in 2008 –
* Housing units – USD$124, 783
* Attached or townhouses – USD$96, 988
* Detached houses – USD$141, 728
* 3-4 unit structures – USD$ 119, 504
* 2 unit structures – USD$68, 526
* Boats, vans etc – USD$23, 750
* Mobile homes – USD$37, 673

Foreclosed houses in San Luis

Since the number of foreclosures increased noticeably throughout United States, San Luis was no exception. If you surf through the real estate websites providing multiple listings of properties that are to be bought or sold, you will come across details of foreclosed homes in San Luis.

There are many people who opt for these foreclosed homes since these houses are sold at a lower cost as compared to the houses that are put up on sale and those that have not received any Notice of Default etc. So, if you are planning to buy a home in San Luis as you want to take advantage of the low cost of these foreclosed homes, you can go ahead with the same. However, there are certain legal aspects that you need to take into account prior to settling for a foreclosed house, irrespective of the place where you are buying.