DFW Foreclosures Ranked 11th
The latest report is out and it shows DFW has a surge of 27% in foreclosures going up for auction in March. However, the number 27 doesn't mean too much in an average. I say that because it takes into consideration Denton County that had a 42% increase. But, at 42%, there were "only" 464 foreclosures for the entire county. When you look at the number 464, you think, that's a lot of homes. It's not really that many homes when you look at the population (2006 estimated population of 584,238) and how 464 is a very small percentage of properties in the area.
Then, you have a 20% increase in Collin County (2006 estimated population 698,851). To get to that 20% increase, it's "only" 495 foreclosures.
The Dallas Fort Worth area had over 43,000 foreclosure for 2007. DFW is ranked 11th across the country. We were in the top 10 for so long, so it's good to see we're out of that grouping.
D-FW AREA FORECLOSURE POSTINGS Residential properties scheduled for foreclosure auction in March for each of the counties.
Dallas County 1,884 25%
TarrantCounty 1,318 28%
Collin County 495 20%
Denton County 464 42%
D-FW area 4,161 27%
SOURCE: Foreclosure Listing Service Inc.
Remember, I work all of North Dallas County and Collin County including Richardson, Plano, Allen, Frisco, Carrollton, Garland, Rowlett, McKinney, etc... my car will take us anywhere you need to go!!
ARE YOU PACKED YET?!
Labels: dallas tx, dfw, foreclosure
posted by Donna Harris, REALTOR® @ 10:05 AM
2 comments
2 Comments:
Donna that is startling data. what will be the long term impact on property values in the dfw area. if you are in the bedroom communities like duncanville, richardson, garland etc how will the affect of dallas having such a high number affect your local values.
Thanks for your time
The long term impact... Well, it depends on your definition of long term. This article paints Texas, and specifically Dallas, in a very bright light over the next 20 years: http://recenter.tamu.edu/pdf/1841.pdf
"The Lone Star State is being “discovered” by the rest of the country because of its affordable housing, lower cost of living and cost of business, greater employment opportunities and appealing lifestyle. Events and circumstances point toward a
Texas-sized boom between 2005 and 2030."
To me that's long term. It may take a while, but all of Dallas, Collin and Denton county will rebound from this dip in the market.
Eric Holmes
REMAX DFW Associates
www.TeamHolmes.com
http://dfwrealtor.blogspot.com/
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