Foreclosures up 34 percent in 2003 [View All]

Hi All,

The Fort Worth Star Telegram is reporting that home foreclosures are up by 34 % for the DFW metroplex in 2003. Anecdotally, real estate agents tell me that foreclosures are up by 350 % in Plano Texas. Plano is a large suburb just North of Dallas.

The article introduction and link follow:

Foreclosures up 34 percent in 2003
By Andrea Jares
Star-Telegram Staff Writer
Fri, Nov. 14, 2003

Residential foreclosures rose 34 percent in the Metroplex this year, hitting the highest level since the real estate bust of the late 1980s and early 1990s, said George Roddy Sr., president of the Foreclosure Listing Service.

There were 28,164 homes posted for foreclosure in Tarrant, Dallas, Denton and Collin counties in 2003, including those listed for the Dec. 2 auction, according to figures released Thursday by the Addison-based company. In Tarrant County, 8,740 homes were posted for foreclosure this year, 30.3 percent more than the 6,710 homes posted in 2002.

The pace of foreclosures has picked up in the past few years, Roddy and others said, largely because of a sluggish economy that has left more people unemployed or underemployed.

Foreclosures increased 25 percent from 2001 to 2002 and 30 percent from 2002 to 2003, according to the listing service.

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http://www.dfw.com/mld/dfw/news/7261023.htm