The number of foreclosed homes in Texas continues to decline and the state is no longer amongst the leaders in the overall percentage of distressed mortgages and areas like Stephenville are seeing the benefits of a renewed real estate market. Florida, New Jersey, New York, Illinois and Nevada all have between 5% and 10% of total homes in foreclosure; astonishing indicators that there are still large adjustments to be made in those real estate areas. Home buyers in Erath County in particular should begin to see renewed interest as new home purchases and prices continue to climb.
The number of foreclosures fell by nearly 42% in 2012, a significant sign that the Texas real estate market is starting to rebound. Ted Wilson, a principal with Dallas-based housing analyst Residential Strategies Inc., said, “With the upward movement in house prices, the number of households underwater on their mortgages is waning in D-FW.” Wilson went on to add, “Moreover, with the improving housing picture, the attitude of helplessness, so pervasive two years ago, is evaporating as well.” The rates of foreclosure haven’t been this low since the peaks of 2005, at the nadir of the housing market downturn across the country.
Of course, this should come as no surprise to those who already enjoy all that home ownership in Stephenville has to offer. This is less a recovery than a foregone conclusion as Texas remains one of the most desired states for pursuing a career and raising a family. We have been servicing the Stephenville real estate market for years, and Erath County at large, and now just might be the best time to finally search for your dream home.
We’d love to tell you more about homes for sale in Stephenville. Drop us a line anytime so we can begin the discussion.