Texas Sees Increase In Foreclosure Filings
The Lone Star State saw a slight increase in foreclosure activity in the 11th month of 2010. A total of 13,369 Texas homes received foreclosure notices during the month of November, according to the latest report by Irvine, Calif.-based RealtyTrac.
The new figure marks a 2.8 percent increase from the number of filings recorded in October. Posting activity was up 10.5 percent between November 2009 and 2010, per the recent RealtyTrac analysis.
Compared to most other states, however, Texas is once again showing itself to be a very stable market. At the end of November, one in every 718 homes received a foreclosure notice — a rate well below the national average of one foreclosure for every 492 housing units.
At present, Texas is ranked at No. 20 in terms of foreclosure rate. Nevada, Utah and California took the top three spots, as ranked by foreclosure rate. Over the course of November, one in every 99 Utah households received a foreclosure notice. Utah and California reported one filing for ever 221 and 233 housing units, respectively.
At Treadstone Realty Group, we feel that it is very important to keep our viewers and client's up to date with the current market statistics. Knowing when and how to purchase foreclosures is the key.
If you would like to set up a private consultation to discuss your foreclosure purchases and or investment strategy for 2011 feel free to contact us.
"Houston Business Journal"