Austin TX Real Estate - Hill Country Austin Lakeway Homes for Sale: Dallas Real Estate- Increase in Foreclosure

Dallas Real Estate- Increase in Foreclosure

This is the latest information posted on Dallasnews.com about foreclosures in the Dallas area. 

Residential properties scheduled for foreclosure auction in August and the change from last year.

Dallas County  1,412  +30%
Collin County  342    +34%
Tarrant County 897    +17%
Denton County  310    +30%
Rockwall County 43    +23%
D-FW area  2,961      +26%
SOURCE: Foreclosure Listing Service

With the increase of interest rates as well as the cost of listing increasing is causing people who were just on the bubble last year, to throw in the towel this year. Due to the lack of appreciation in the Dallas market, foreclosures are on the rise.  According to this service, in just the first half of the year, more than 24,000 area homes are set to be on the list. 

Dallasnews.com article

Comment balloon 2 commentsDonna Harris • July 14 2006 02:48PM

Comments

Wow!  That is a lot of foreclosures.

 

Posted by Bob Crain, San Diego County Real Estate Broker (Crain Realty - North County Luxury Homes) about 12 years ago
I have to agree with Bob.  But I still wonder what were these people thinking.  Last year so many people bought homes they couldn't afford due to creative financing and now they are in trouble.  Of course I feel sorry for them, but if they thought with their head instead of their heart they could have saved themselves the heartache now.
Posted by Mary Mooney about 12 years ago

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