Home auctions in Houston, San Antonio and other key markets of Texas are all expected to gain sales once the spring season hits its peak. As of the first three months of the year though, several markets are already posting good numbers, providing promise that the coming months will be even better. In San Antonio, sales were still down, but prices have trumped nationwide trends to post respectable gains.

Even with tough competition from low-priced properties offered at Texas foreclosure auction, San Antonio's average home price managed to record an increase during the January-March 2011 quarter. For the first quarter, the average selling rate of houses in San Antonio was $180,443, up by 4% compared with the 2010 first quarter, based on statistics from the San Antonio Board of Realtors. However, housing sales were down for the quarter compared with year-ago levels.

Condo foreclosures auctions and house auctions were unable to post higher sales numbers during the quarter. Around 3,575 homes were sold in the metro region during the first three months of the year, representing a decrease of 5% compared with last year's first quarter sales. However, realtors believe that the sales drop was not a sign of a poor market, but was rather due to last year's sales getting some help from the federal government's tax credit initiative.

They asserted that the initial quarter of 2009 and month-over-month figures would be better comparison points to determine how well the housing market has done during the 2011 first quarter. When compared with February 2011, residential home auctions and non-foreclosed housing sales did well in San Antonio in March of this year. Sales for March were 30% higher than February, with March posting a total of 1,556 sales compared with the 1,079 housing units sold during February.

Most San Antonio realtors believe that activities in home and condo foreclosures auctions and even among non-foreclosed home markets will post better figures in the coming months. According to them, the improving national economy and the stabilizing job market will boost consumer confidence. They also cited low interest rates as factors behind the optimistic outlook for the market.

Texas Home and Condo Foreclosures Auctions Set to Have a Busy Spring is a post from Foreclosure-Auction.net - Your online source for foreclosure property auctions.

According to analysts, the huge number of properties offered at foreclosure auctions in Houston will still pose some problems, but new houses will post improved sales figures this year, mainly because of an anticipated growth in state economy. Analysts also stated that low interest rates will encourage buyers to invest in new dwellings. Moreover, the metro area is considered one of the U.S. regions on course for a job market growth this year.

Housing experts admitted that the area's residential property market still has a long way to go to get back to normal, especially since properties at Texas foreclosure auctions are expected to rise further this year. However, they argued that improvements in other economic indicators will improve consumer's confidence and will revive state residents' interest in homeownership. Home builders are reportedly projecting almost 19,000 new home projects in Houston alone this year.

Another good thing about Houston, according to industry analysts, is that its housing market seemed to have already reached its lowest point. Unlike other metropolitan areas in the U.S. that are still experiencing rising foreclosures and residential tax deed sales, Houston is said to have already hit bottom and is already on its way up, although any improvement this year will be minimal.

Furthermore, buyers are expected to turn their attention to foreclosed homes for auction and new residential properties as those residents living in apartments get tired of rising rental rates. The rise in the demand for rental housing has resulted in higher rental rates and limited space in highly desired communities. This, analysts stated, will eventually benefit the homeownership market.

Economists are also asserting that the growth of Houston will be significantly aided by strong oil prices. The oil industry is reportedly poised for expanded hiring, and the more jobs there are, the more buyers there will be of residential foreclosures and tax deed sales and even new dwellings.

Growth Expected in New Home Market Despite Foreclosure Tax Deed Sales is a post from Foreclosure-Auction.net - Your online source for foreclosure property auctions.

With housing sales also down during the quarter, the few buyers who ventured into homeownership and residential investment favored the cheaper properties offered at foreclosed Fort Worth home auctions and other foreclosure sales in the region, causing housing starts to drop in the last quarter of the year. A total of 3,341 houses were built by North Texas builders in the October-December period, according to housing market data.

Housing unit sales also dropped in the three-month period, including numbers for newly built dwellings and properties offered at home auctions in Texas, with total sales recording a 20% decrease compared with the same quarter of 2009. Analysts stated that the decline in both sales and housing starts showed that the region's housing market remain weak despite the help it got from the federal government's tax credit initiative during the first six months of the year.

Housing experts have stated that the primary reason is the huge supplies of foreclosed dwellings and bankruptcy homes in the region which dampened potential buyers and investors' interest in new houses. They predict that the trend will continue in 2011, but are optimistic that numbers will improve within the year as the job market of North Texas continues to stabilize.

They also stated that the low inventory level of homebuilders will help the market stabilize and will somewhat offset the effect of foreclosed properties at home auctions in 2011. Compared with the peak period of 2006, housing starts in the region were almost 70% lower.

The 2010 fourth quarter also marked the lowest three-month period for the area in terms of homebuilding activities in almost 20 years. Analysts are predicting a modest rise in homebuilding activity in 2011 ranging from 10 to 15%. They also expect housing starts to be able to compete better against foreclosures and bankruptcy homes in 2011.

High Levels of Foreclosures and Bankruptcy Homes Hit Housing Starts is a post from Foreclosure-Auction.net - Your online source for foreclosure property auctions.

A big number of properties with underwater mortgages have already been sold at San Antonio home auctions and other foreclosure auctions in various areas of the state, giving Texas a decent negative equity percentage for the 2010 third quarter. Negative equity pertains to homeowners who pay mortgage loans at a higher rate than the value of their properties.

With most of the properties with negative equity already absorbed in Texas home foreclosure auctions, the state recorded an 11.2% negative equity out of the 3.3 million loan mortgages recorded in the state during the July-September 2010 period. Out of the total number, 367,000 are said to be underwater or are categorized as negative equity.

According to housing analysts, negative equity, along with bank foreclosures and foreclosed VA homes for sale, produce a detrimental impact on the housing industry. They stated that the higher the number of underwater loans, the slower the housing market will recover so any improvement in the underwater mortgage figure is welcome news to the housing market.

However, analysts reported that prices of new houses and residential properties under listings of home auctions are also declining, which can offset the benefits provided by a decline in negative equity. They added that the market will pick up rapidly if underwater mortgages diminished and prices of homes climbed at the same time.

Compared with national averages however, Texas can be said to be doing quite well in terms of minimizing the number of its underwater mortgages. The 11.2% recorded by the state during the 2010 third quarter is definitely better than the national average of 22.5% for the same period.

The positive aspect of the national third quarter average is that it represents a decline when compared with the 23% negative equity recorded in the 2010 second quarter. Texas also has lower bank foreclosures and foreclosed VA homes for sale totals compared with most regions of the U.S. during the same quarter.

Foreclosed Bank and VA Homes for Sale Lower Underwater Loans in Texas is a post from Foreclosure-Auction.net - Your online source for foreclosure property auctions.

Corpus Christi foreclosure auctions and foreclosed properties in various areas of the state have weighed down the region's economy in the past two years or so, but economists are seeing marked improvements in the area, although the recovery is going at quite a slow pace.

BBVA has stated that aside from rising demand for energy, the state is also benefiting from rising job numbers in the private sector, minimal fiscal concerns and strong export numbers, particularly in relation to coal and petroleum products. The state's economic recovery is also expected to continue until 2011 since properties under foreclosed Texas home auctions are relatively fewer compared with other states.

Foreclosed bank and HUD homes are still a major concern, but the housing market of Texas is considered relatively steady when compared with other regions. This, along with other reasons cited earlier, sustains the slow recovery of the state, economists have asserted. The state's economic recovery has accelerated in the second half of the current year while most U.S. states suffer from further economic declines.

The BBVA economic report predicts that the gross domestic product (GDP) of Texas will rise by 3% by the end of 2010 and will jump by 2.8% by next year. These projected rates are much better when compared with the predicted U.S. average GDP rates of 2.7% for 2010 and 2.3% for 2011. Prices of regular dwellings and residential properties under foreclosure auction lists also remain stable along with receipts for property taxes, providing the state with some funding cushion against tax increases and budget cuts.

Fiscally, Texas is expected to incur a budget deficit of 10% of expenses for 2011, which means that it will have the 16th lowest deficit among 46 regions for which state budget deficits have been projected. However, despite this expected deficit and the continuous entry of foreclosed bank and HUD homes into the housing market, Texas is expected to do well until 2011.

Texas Shows Improvement Despite Foreclosed Bank and HUD Homes Numbers is a post from Foreclosure-Auction.net - Your online source for foreclosure property auctions.

A week ago, Texas Attorney General Greg Abbott has requested 30 mortgage companies operating in the state to freeze foreclosures and to stop the sale of these properties in Dallas foreclosure auction and through other channels in the rest of the state. The request was prompted by news that mortgage firms are rushing the processing of foreclosures, resulting in the use of faulty documents.

When compared with October 2010, the number of properties up for Texas foreclosure auction for November represents an 8% decline, according to data released by Foreclosure Listing Service (FLS). According to analysts from FLS, with the decline being only 8%, it will be hard to attribute it to the state AG's demand for a suspension on foreclosures.

They further added that the housing industry will have to wait for the December housing data to see if the moratorium has any impact on the rate of foreclosure filings in the state. Traditionally, around 25% to 40% of dwellings foreclosed for each month in Texas are actually sold for debt repayment. For the remaining cases, the homeowner usually comes up with an alternative agreement, like foreclosure short sales, or the bank decides to wait awhile before the sale.

A total of 4,647 houses are up for real estate auctions for November in the Dallas-Fort Worth region. The number represents the lowest month-end total for over a year now. Foreclosure filings in the region showed declines for five of the recent six months compared with year ago statistics. For November, the largest drop was recorded in Dallas County, with the area showing a filing decline of 18% compared with November 2009. Colin County also recorded a significant drop at 17%.

So far, the region has recorded a total of 58,000 foreclosures for 2010, representing a 2% rise compared with 2009. With foreclosure short sales being put on hold, analysts are expecting December 2010 numbers to be lower than previous year's.

Halt on Foreclosure Short Sales Not Reflected Yet in November Data is a post from Foreclosure-Auction.net - Your online source for foreclosure property auctions.

 
Based on a report released by the University of Houston’s Institute for Regional Forecasting and Crawford Realty Advisors, foreclosure auctions in Texas accounted for more than 20% of houses sold in the state in 2009, particularly in several counties of Houston.
 
The report also revealed that the average price of homes in the area ranges between $85,000 and $90,000. The price range is more than 20% lower than the prices of homes in 2008. The decline in home prices is primarily blamed on the continuous increase in the number of foreclosed properties in the region.
 
The decline in home prices is felt all throughout Texas, but it is more obvious in new or expanding subdivisions in the Beltway area of Houston. It has been reported that almost 70% of residences sold at the Beltway in 2009 were foreclosure auction houses.
 
Majority of El Paso foreclosure auctions and foreclosures in the rest of the state in 2009 happened in counties and cities that have high rates of unemployment and have low-earning households.
 
Crawford Realty Advisors executives have stated that most foreclosure auctions in Texas resulted from negative lending practices. The firm’s officials added that these loans were issued to households or individuals who do not have the capacity to pay for the loans.
 
Real estate observers stated that the federal government’s programs designed to help alleviate the residential property market crisis will have positive effects on Texas, although the effects would be minimal at best.
 
However, most real estate analysts are optimistic that the latter part of 2010 will show a decline in foreclosure auctions in the state as the country’s economy attains a gradual improvement. Analysts also expect subprime mortgages to have worked their way into the system by that time.
 
El Paso foreclosure auctions and foreclosure auction houses for sale in the rest of the state are believed to be the primary reason behind the declining prices of residences in Texas. However, market observers are optimistic that the condition of the housing market will improve in 2010.

Search foreclosure auction in Texas cities:

• Foreclosure auction in Fort Worth
• Foreclosure auction in San Antonio
• Foreclosure auction in Austin
• Foreclosure auction in Dallas

El Paso Foreclosure Auctions Bringing Home Prices Down in Texas is a post from Foreclosure-Auction.net - Your online source for foreclosure property auctions.

According to the study, there is an approximately 4 percent risk of house prices going down further in Dallas in the next two years. Meanwhile, the risk in Fort Worth is higher at nearly 6 percent.

The risks for the two cities are extremely low compared to the nationwide risk level of nearly 66 percent. The study said that in 50 of the nation’s biggest cities, the risk for house prices going down further in the next two years is 65.5 percent.

In 45 large metro areas across the nation, the risk of home prices going down further increased in the first quarter.

The risk level in Dallas in the first quarter increased from the 2.5-percent level in last year’s first quarter while the risk level in Fort Worth increased also from the 2.5-percent level in last year’s first quarter.

Across the nation, the cities with the highest risks of house prices going down further are Riverside, Los Angeles and Miami, with all three cities having nearly 100 percent chance of house prices going down further in the next two years.

The cities with the lowest risk of house prices falling further are Cleveland and Pittsburgh.

Unlike other cities where extremely high prices during the boom caused their housing markets to collapse, soaring unemployment rates caused the housing market in North Texas to decline. The flood of foreclosed home auction properties pushed down home prices to their lowest levels.

In the past two years, home prices and foreclosed home auction prices fell by more than ten percent in the two North Texas cities.

In the first 7 months of this year, foreclosure filings in North Texas continued to grow by 20 percent compared to the same period in 2008. Over 64,000 foreclosure actions have been filed in Dallas in the first 5 months of the year. Many of these eventually went on to foreclosed home auction listings.

According to another Texas real estate study, nearly 5 percent of homeowners with home loans in Dallas were behind in their monthly payments by three months or more.

In the first 6 months of this year, over 9,000 housing units eventually entered foreclosure listings and foreclosed home auction inventories in North Texas.

Trend of Foreclosed Home Auction Prices in North Texas is a post from Foreclosure-Auction.net - Your online source for foreclosure property auctions.

Since the start of 2009, nearly 6,500 homes have been posted for foreclosed home auctions in the Austin area, which comprises Hays, Travis, Williamson and Bastrop. In all the four counties, foreclosure postings increased during the first six months of the year.

For the June 2 foreclosed home auction, 138 homes in Hays will be posted, a rise of 68 percent from the 82 homes offered for sale in June 2008. The increase was 11 percent above the number this May and 109 percent above the number in June 2006.

In foreclosed home auctions in the second quarter, Hays County listed 372 homes, an increase of 44 percent from the 259 listed in last year’s second quarter.

Compared to June last year, the increase in postings was highest in Bastrop County, which had an increase of 56 percent. Next is Travis County, with an increase of 55 percent. Williamson County had a 51-percent increase while Hays had an increase of 39 percent.

All the four counties had an increased number of properties listed in foreclosed home auction events in the second quarter, the second straight quarter that the counties surpassed the 2,000 units in the Austin metropolitan area.

According to George Roddy, president of FLS, there was an increase in third-party buyers during the May auctions in the 19 Texas counties tracked by FLS. Investors and other third-party buyers purchased nearly 175 homes, representing over 6 percent of total properties listed in foreclosed home auction events in early May.

Roddy also added that investors got great bargains because they paid only 64 cents for every dollar of the appraised value.

According to Roddy, investors also try to make good purchase deals by trying to buy the foreclosed properties before they are put up in foreclosed home auctions. Typically, they have 21 days to work out a deal between the dates of the foreclosure filing and the foreclosed home auction.

The May 5 foreclosed home auction resulted in the sale of 172 foreclosure properties to third-party homebuyers, a decline of about 5 percent compared to the 184 units sold to third-party buyers in May 2008.

Austin Foreclosed Home Auction: 68% Rise in Homes to be Sold is a post from Foreclosure-Auction.net - Your online source for foreclosure property auctions.