As usual, The metroplex real estate market continues to shine above the national average. Although numbers show that foreclosures are declining locally and nationally, speculation concurs that motivated sales from distressed property owners are not on the decline. My assumption is that banks, realtors, and homeowners have other options besides filing for foreclosure. The second article below states the increase in shortsales that are up 10% nationally from the previous year.
Fewer Fort Worth-Arlington homeowners delinquent on mortgage payments
The Fort Worth-Arlington mortgage delinquency rate has decreased, CoreLogic research firm said today.
In August. 5 pecent of mortgage loans were at least 90 days delinquent, compared to 5.4 percent in August 2010.
In Texas, the mortgage delinquency rate fell to 4.5 percent in August, from 4.9 percent a year ago. And nationally, the rate fell to 7.1 percent, down from 7.8 percent.
The foreclosure rate, though, which measures the percentage of loans in some stage of the foreclosure process, was 1.6percent in August, up from 1.5 percent in August 2010, CoreLogic said.
In Texas, the foreclosure rate was 1.5 percent in August, up from 1.4 percent in August 2010. And nationally, the rate rose to 3.4 percent from 3.2 percent in August 2010, figures show.