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House Foreclosure Auction in Denton County Expected to Rise

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By : Dywon Marck Taylor    99 or more times read
House foreclosure auction in Denton County in Texas has slowed down according to a residential foreclosure listing analysis of a Real Estate tracking firm. Currently, there are 1,184 foreclosure properties that are included in major foreclosure listings in the area. Of that figure, only 38% or 447 homes are up for sale. The rest, 62% or 737 homes, are classified as dormant and included in the shadow inventory for inactive foreclosure listings.

Analysts said remarketing activity for house foreclosure auction in Denton County is presently light compared to overall volume of completed foreclosures nationwide. To date, just about 5.7% of total number of homes up for sale in the county accounts for foreclosed homes. If all the foreclosed properties would be put up for sale, foreclosures would account for 13.8% of overall homes available to homebuyers in Denton.

Another factor cited that affects house foreclosure auction in Denton County is the ownership of such properties. It is estimated that about 70% of foreclosures in the county are owned by banks. About 30% of the foreclosed properties are repossessions by government agencies like HUD, Fannie Mae, and Freddie Mac.

However, analysts are certain that the volume of transactions in house foreclosure auction in Denton County would rise beginning next month when more foreclosures are put up for sale. Demand is also expected to jump, especially because many homebuyers would realize how affordable foreclosed houses are in Denton. Median price for foreclosed homes in the county is currently at $139,900, about 35% lower compared to median price of all foreclosures nationwide at $215,000.

Meanwhile, White Plains foreclosures in the state of New York are expected to rebound beginning January. The county, along with the entire state, was directly affected by major lenders’ recent decision to halt foreclosures due to a foreclosure scandal that called attention of regulators and state attorneys general nationwide. By next month, most banks would resume foreclosure activities. Analysts expect White Plains foreclosures, just like foreclosed homes in New York and other states, to gain pace and rise again soon.

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