Texas Real Estate news

 

DFW Foreclosures Double for Homes $1Million & Up - July 3, 2008
The Dallas Morning News - Reports in July, 2008 that Dallas luxury home foreclosures of $1 Million and up have doubled in the DFW area. This means the mortgage industry problems are rising among affluent homeowners. "Foreclosures of million-dollar-plus houses are the fastest-growing segment of the Dallas-Fort Worth distressed home market, according to a new study. " "More than 70 residences that went for $1 million and up have been posted for foreclosure in the first half of 2008 – more than twice the number in the same period last year, Addison-based Foreclosure Listing Service said Thursday. "

 

Foreclosures of luxury homes on the rise - Friday, July 3, 2008
Dallas Business Journal - Dallas, Texas Local foreclosures of million-dollar homes have more than doubled in the first half this year from a year ago, according to a recent survey by Foreclosure Listing Service Inc.

 

Bill helps businesses more than borrowers - Thursday, April 3, 2008 Associated Press WASHINGTON -- A measure billed as boosting the slumping housing market showers money-losing businesses with $25 billion in tax relief in the next few years but offers just $3 billion to homeowners. The estimates released Thursday by the Joint Tax Committee, which explores for lawmakers the effects on the Treasury of tax legislation, lend credence to accusations that the measure helps businesses like home builders while doing little to help millions of families threatened with foreclosure.

 

Rural communities hit by foreclosures - Thursday, April 3, 2008 - Fort Worth Star Telegram "While news about the mortgage crisis often focuses on cities and booming suburbs, rural America has been hit hard, too. Research by the Housing Assistance Council, a Washington-based nonprofit organization that helps build housing in rural pockets of the country, has found that foreclosures are at least as prevalent in small towns as in cities."

 

Dallas area new home sales plunge 30% - Thursday, April 3, 2008 - Dallas News "Dallas-Fort Worth new-home sales plunged by more than 30 percent in the first quarter as the credit crunch and economic worries kept buyers on the sidelines. The decline during the first three months of 2008 was almost twice the rate by which new home sales fell in all of 2007."

 

Senate leaders agree on bill to ease foreclosure crisis - Wednesday, April 2, 2008 Associated Press - WASHINGTON – Senate leaders announced an agreement Wednesday on legislation to ease the slumping housing market and help millions of families threatened by foreclosure. The scaled-back proposal released by Majority Leader Harry Reid, D-Nev., and GOP Leader Mitch McConnell of Kentucky contains an amalgam of ideas aimed at boosting demand for housing and helping homeowners saddled with subprime mortgages avoid foreclosure.

 

HUD chief resigns after criminal probe - Monday, March 31, 2008 - Associated Press - WASHINGTON -- "HUD Secretary Alphonso Jackson, his tenure tarnished by allegations of political favoritism and a criminal investigation, announced his resignation Monday amid the wreckage of the national housing crisis."

 

Foreclosures cut wide swath across Dallas, Fort Worth - February 29, 2008 - Dallas News.com As thousands lose their homes, some neighborhoods are hit hard - "A study by The Dallas Morning News finds that the home foreclosure crisis cuts across all neighborhoods and economic classes in North Texas. "

 

Texas foreclosures notices surpass national average - Friday, September 7, 2007 Dallas News.com "The number of Americans who are behind in their mortgage payments is at a record high, according to the second-quarter report. And those numbers don't include the thousands of homes already in foreclosure, according to the association."

 

Foreclosure listings flood D-FW home market - Friday, September 7, 2007 - Dallas News.com - Texas Foreclosure Listings are at highest level in nearly 20 years "With thousands of houses a month posted for foreclosure in Dallas-Fort Worth, the inventory of homes on the market that are owned by lenders has reached its highest point in almost two decades."

 

Texas reports the most first-quarter foreclosures of any state, 40,236, and Florida reported the second most with 29,636. California was a close third with 29,537 properties entering some stage of foreclosure in the first quarter of 2006, but the state’s quarterly foreclosure rate of one foreclosure for every 414 households was below the national average.

 

 

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