Trend or Perturbation

[Jim Cummings]

Foreclosure Postings are up in a number of counties monitored by Roddy real Estate Services of Addison, TX.

Here is a quick breakdown of our posting volume change for several major counties:

Dallas County: Down 2%

Williamson County: Up 6% (Round Rock / Georgetown, TX)

Bell County: Up 16% (Temple / Killeen)

Bexar County up 16% (San Antonio)

Tarrant County: Up 22% (Fort Worth)

Travis County: Up 28% (Austin)

Denton County: Up 30%  (Denton, TX - North Of DFW)

Collin County : Up 31%  (McKinney, TX - East Of DFW)

[Rick Pozos]

Property taxes are a big part in Texas Mortgage payments. When property values rise 50% over the last few years, so do property taxes. Properties are appraised every year and will move up in value every year in good times(10% cap per year on homestead, no cap on investment properties). 10% rise in your taxes can be substantial. Most people are JUST qualifying for their homes when buying. THEN your payment goes up every year!!!

There is nothing surprising that mortgage foreclosures are going up. They had been at historical lows, but not anymore. About 300 per month was the low. We are now at about 400+ per month in Bexar county. In 2008 there were months with 1200+ per month!! I dont think we are going back to 1200, but 600 to 700 will be the norm in the near future here in Bexar County which San Antonio takes up most of.