Real Estate Pro Articles

Foreclosed Single Family House Listings Eased Down in Dallas

[Valid RSS feed]  Category Rss Feed -
By : John Cutts    99 or more times read
The period of January to June 2010 saw the area of Dallas-Fort Worth, Texas recording fewer foreclosed properties, including homes under foreclosed single family house listings. Total foreclosure figures for the first half of the current year reached a little over 8,800 among the five counties of D-FW.

The number represents a 5% drop when compared with the January-June 2009 period. It also represents the lowest foreclosure total for a first half-year period since 2007. When compared with the first six months of 2008, the 2010 Dallas home foreclosures figure represents a drop of over 20%.

According to analysts, they are not yet sure whether the decline in Dallas-Fort Worth, or in the whole Texas home foreclosures, can be sustained for the rest of the year. However, they did reveal that the drop in foreclosure numbers might be a sign that the local economy and housing industry are on its way towards some form of recovery.

Some economists have argued though, that the drop in the number of properties under foreclosure home listings is mainly due to government initiatives and other programs designed to help households avoid foreclosures. Despite the decline in foreclosure numbers, most analysts are still wary of the market condition, particularly when foreclosure posting totals are on the rise in most areas of the state.

Foreclosure postings include properties under threat of foreclosure and those under single family house listings and distressed property listings but have yet to be sold. Total filings were up by 10% in the first half of the current year, according to local housing market statistics, with actual foreclosed property numbers down by 5% for the same six-month period.

Housing market analysts have stated that this means that the number of delinquent homeowners is still rising in the area. Some local housing officials have revealed that a big number of borrowers who have tried to have their mortgage modified have failed to do so, leading to higher delinquency totals.

Moreover, there are homeowners who eventually lost their homes to foreclosure despite having their mortgages modified. Although analysts are still unable to predict whether the lowered number of homes falling under foreclosed single family house listings and other foreclosure listings will continue, they are pleased with the decline in foreclosure totals in some areas of the state, including Dallas-Fort Worth.
John Cutts has been educated in the finer points of the foreclosure market over 5 years.

Related Articles

Print This Article
Add To Favorites




© All rights reserved to Real Estate Pro Articles