Something to cheer about
Good news on the Woodlands Foreclosures front. Houston area foreclosures did not significantly increase between the second and third quarters, and there were fewer than last year.
RealtyTrac’s U.S. Foreclosure Market Report revealed that Houston–Sugar Land–Baytown foreclosures increased 1.5 percent between the second and third quarters, and actually fell 8.1 percent from third quarter 2008.
Approximately one out of every 256 area homes, or 0.39 percent, posted foreclosure activity from July to September, ranking Houston 124th in the United States for number of households in foreclosure.
This is a true local blessing. Not only do foreclosures obviously affect the homeowner, they have an exponential negative effect on the neighborhood and broader city market. I attribute our relative market health to the wise fiscal policy in Texas that prevented homeowners from borrowing 100%+ of their home’s equity using home equity loans. It has made all of the difference in this downturn.
The Dallas area’s 10,700 properties, or 0.45 percent of the whole, that posted foreclosure activity made it the highest in Texas.
College Station–Bryan had the lowest percentage of housing units in foreclosure during the third quarter, with 46 properties, or 0.05 percent.
Excerpts taken from the Houston Business Journal.
