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Foreclosed Commercial Properties Listings in D-FW Surged

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By : John Cutts    99 or more times read
Total filings for foreclosure commercial properties listings in the Dallas-Fort Worth, Texas region jumped by more than 50% during the January-August 2010 period compared with the same period of 2009. Over 2,500 foreclosure filings for commercial structures are reportedly posted during the said period.

According to state-based firm Foreclosure Listing Service, unlike the residential property market where foreclosed Dallas fixer uppers and single family dwellings continue to post record numbers, the commercial foreclosure market is actually in a much better position if previous economic and housing market downturns are to be used as basis for comparison.

Local real estate market observers have stated that as various types of residential foreclosures, including Citibank foreclosures for sale, continue to post higher numbers than previous crisis periods, the commercial property market is actually doing better than it was during the market crisis of the 1980s.

In those times, market observers reveal that more than 8,000 commercial bank owned property foreclosures were recorded in just a single-year period. Furthermore, the commercial property sector of the Dallas-Fort Worth area during the 80s is only half the size of the current commercial market.

The latest real estate statistics also showed that commercial properties listings in Dallas and Fort Worth are way below residential foreclosure totals, with foreclosed home filings totaling almost 48,000 during the nine-month period of the current year. When broken down into types, commercial foreclosure filings are mostly accounted for by apartment foreclosures.

Data showed that 376 apartment properties have received a foreclosure notice during the 2010 period which represents a 22% rise when compared with the first nine months of 2009. However, the biggest rise in posting totals can be found among miscellaneous commercial properties and land or those that are categorized as Class C buildings and properties.

When it comes to the location with the highest number of filings for commercial foreclosures, Dallas County takes the prize. The county has a total of 1,052 filings for the January-August 2010 period. However, the biggest increase can be found in Collin County, where foreclosure postings jumped by over 70% in 2010.

For the September 2010 foreclosure auction, the Dallas-Fort Worth area is scheduled to offer commercial properties listings comprised of 285 structures. The number is considerably higher than the 180 foreclosure offerings recorded in September 2009.
John Cutts has been educated in the finer points of the foreclosure market over 5 years.

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