Good Deals for Texas Bank Foreclosures

by on States

For two consecutive months this year, Texas posted a decreasing foreclosures rate. As of May, the state is now ranked 14th down two spots from April. Foreclosures rate in Texas boasted a negative 15.5 percent growth, which meant that there were fewer Texas bank foreclosures adding to the inventory. Across the state, foreclosure filings reached 9,653 with majority of them from the Notice of Trustee Sale stage.

Compared to last year, the number of Texas bank foreclosures has dramatically decreased by almost 35 percent. This offers local officials and residents a glimmer of hope that the foreclosure nightmare will soon be over and the negative effects minimized. And if the decline in foreclosures rate continues, it is not impossible that total market recovery can be achieved before the year ends.

In smaller cities like Northeast Dallas, the market condition favors the sellers as buyers compete with each other in grabbing these bank foreclosures in Texas. Most of the foreclosures activities are generated by the growing population. In fact, you will not be surprised with the number of families looking for single-family bank foreclosure homes sold at below average market prices.

Because of such great interest, sellers usually enjoy one hundred percent of their asking prices. Instead of asking for discounts, buyers agree on the seller’s price in order to close the deal and not risk losing the property to another buyer. With such healthy activity, the local market trend continues to increase.

Many seasoned buyers hunting for potential bargains can not help but rely in foreclosures list especially those from Bank Foreclosure Sale. With thousands of Texas foreclosure homes for sale, buyers will simply be delighted with the choices that range from condominiums, single-family units and town houses.