The fastest-growing segment of the Dallas-Fort Worth distressed home market are foreclosures of hight-end million-dollar-plus houses are according to a study released by Foreclosure Listing Service.
More than 70 residences that went for $1 million and up have been posted for foreclosure in the first half of 2008 – more than twice the number in the same period last year.
Homes valued $500,000 up to $999,999 had about a 53 percent jump in foreclosure filings, and homes valued at $300,000 to $499,999 had almost a 39 percent gain this year, according to Foreclosure Listing Service.
Through June of this year, one out of every 59 Dallas Ft. Worth homes have been posted for foreclosure.
There was so much speculation in the San Diego real estate market, what we’re seeing now seemed inevitable.
Matthew
Real Estate Broker
Just get it over and done with, a recession is required to weed out the crap in the market.
The UK & US both need a hard landing. Bring it on!!
Plastic Surgery- San Diego
The housing market is in balance, when you can buy your house with your income. Can you? There is still long way to go!
San Diego Broker
A house is worth no more than what someone is willing to pay you for it. No buyer? Value = $0. House prices have held steady throughout the past 100 years in the US at 3x median income of whatever area you study… because every house you build must be affordable to the workers within the surrounding area.
San Diego Dentist
I was reading the other day that we’ve lost $2.2 trillion in home equity in the US. That’s alot of money out of economy.
Chris
Bay Area Attorney