Canyon lake,Tx (San Antonio, Austin, Medina: for sale, foreclosures, HOA fees)

[kerrymac]

I was trying to get some info on Canyon Lake..I noticed alot home forsale in that area and was wondering..Why.

Is this area a retirement oriented community? Crime? Vacation Homes?High HOA cost?

Iam just trying to get general info..

Thanks

[Rottnboys]

Hi Kerry - I think the economy is the first reason (I live in SA) - people who have vacation homes there on the lake might be looking for ways to reduce their monthly outflow of cash. We are also in the most severe drought (even with recent rains) that our area has EVER seen - so that lake is very low........I'm not sure that would drive out those who are diehard lakeside residents - but I would think it has impacted those who bought to be 'waterfront' for weekends/holidays/vacations.

As I understand, Canyon Lake has a mandatory release of water - so regardless of how low the lake is - water is still being released. This lake was built to control water resources - and the recreational side of it was just a 'benefit' if you will.....so during a drought like the one we are in - the lake drops.....likewise in times of heavy rainfall - homes that shouldn't - can flood....

Maybe someone who actually lives there will also post first hand thoughts for you.....I'm just going on what we know from living in this area.

Are you hoping to purchase on Canyon Lake? If so - the best to you in your search!

[kerrymac]

I am look for a 2nd home that will eventually be my primary home in a yr or so...I was also wondering about Mico,TX...any thoughts anyone?

[kerrymac]

Anyone?

[Texan in Virginia]

We have a second home (to which we will retire eventually) at Canyon Lake and love it! Our area HOA fees are $24 a year. We were accessed $100 last year when the pool was completely redone - well worth it!

As for foreclosures, I agree with the previous poster - vacation houses are the first to go when the economy is tough.

Another thought: ours was a spec house and was on the market for a year before we bought it, reduced in price several times during that year. We looked at several spec houses when we bought 2 years ago and I would not be surprised if spec houses account for a high percentage of foreclosures. Speculators of new and resale account for a large percentage of homes in foreclosure throughout the nation.

We also saw several older houses that were not well cared for and owners could have given up trying to sell. Our neighbors are mostly permanent residents and most are younger than us (late 50s).

Please understand I am totally guessing here since I am not aware of any in forclosure myself.

I've never heard about Mico, Texas though so I can't help there.

Lori

[Steel Man]

Originally Posted by kerrymac

I am look for a 2nd home that will eventually be my primary home in a yr or so...I was also wondering about Mico,TX...any thoughts anyone?

Mico, Tx is next to Medina Lake (about 20 miles west from San Antonio). Generally, the same lake situation as Canyon Lake but on a smaller scale. Last I heard, Medina Lake was about 45 feet below normal and they also have a mandatory release to Medina river for agriculture purposes.

[Roxie_B]

I live in Canyon Lake and just recently listed our house for sale. We have been here 10 years, chose this location because of the lake and it is exactly 50 miles to downtown San Antonio and 50 miles to downtown Austin. Since we were both still working, we could commute.

Don't think our subdivision has had any foreclosures; I believe most of those are on south side of the lake.

[kerrymac]

Thank you all for the great information.