A study from the University of Texas in Austin has revealed that house foreclosures, be they Citibank foreclosure homes or any other type, are symptoms and not direct causes of crimes.
Third quarter data for commercial and home foreclosures in Collin County and other areas of Texas, including Freddie Mac Foreclosures, presented a mix of positive and negative news.
Rules for vacant properties in El Paso, which could include residential properties, commercial buildings and manufactured homes, are set to undergo a change with the latest ordinance.
Austin foreclosures increased significantly from a year ago, but remained steady in terms of monthly data. June 2010 showed an almost 100% increase from June 2009, but only 6% from May 2010.
Although Texas has its share of foreclosures and REO homes for sale, some of its cities are considered great places for real estate investors even with the housing market still in a downturn.
Austin recorded increased number of foreclosed property auctions for sale in August 2010. The increase came after foreclosure rates declined by over 20% in July compared with a year ago.
The entry of cheap foreclosure homes into the housing market of Houston will likely see some lull following several local mortgage service firms' decision to put foreclosures on hold.
Companies have become more conscious about the price of real estate and most are expected to relocate to cities where they can rent or purchase distressed properties at the cheapest rates.
Bank owned homes and foreclosures might soon decline in Texas as delinquency numbers drop. The state posted a delinquency rate decline in the fourth quarter.
Print This Article
Add To Favorites