Waco TX home foreclosure rates reach new record in Waco Texas and McLennan County

By
Real Estate Agent with Heart Of Texas Real Estate Group, RE/MAX Centex, REALTORS 479641

WACO, TEXAS

McLennan County Seat, North Central Texas
I-35, US-77, US 84 and Hwy 6
22 miles E of Crawford
105 miles N of Austin
36 miles N of Temple
97 miles S of Dallas
87 miles S of Fort Worth
Population : 113,726 (2000

 

 

The Waco Texas area is a great community to buy and sell a home. Our McLennan County housing market has not lagged depressed like some of our neighboring states.  However, it is sad that we do have some foreclosures in our area and they are foreclosing at a higher rate than in the years past.

A total of 147 properties have been posted to sell on the first Tuesday of this month, April 7th. So if you are an investor of this area, show up at the local McLennan Court House. 

The National Association of Realtors stated last month that home sales have increased by about 5%. However, they also said it was due to the fact that homes are being sold by Realtors at a deep discount. More homes on the market at discounted prices means more buyers shopping for that one or more good buys.

With interest rates being at a all time low, since the history of our nation. I am surprised that more buyers are not out. I think it may because most media is not reporting that this would be a great time to shop for a home. That being said, as i watch my favorite new lady "Robin Meade" and of course my favorite stock channel. I have noticed a slight increase in some of their news, regarding the Real Estate industry.

I told my husband the other day.  I am on the front lines. I am seeing more and more buyers in my two markets. Waco and Temple Texas.  I am curious to see when the national news will catch up with what is actually going on in our community.

While sales in Waco rose in January and declined a little in February, we still have a pretty HOT market for the buyers in Central Texas. About 45 percent of sales nationwide are foreclosures or other distressed property sales, says the Realtors' group. Those properties typically sell for about 20 percent less than non-distressed homes.

So far in 2009, about 458 properties have been listed for foreclosure in McLennan County. That's up, according to the Waco Tribune Herald, from the 360 during the first four months of last year, when the county set a record with 1,110 foreclosure postings, according to some Forclosure services.

 

Posted by

Fine Homes and Luxury Properties.

Kimberly Fowler

RE/MAX Centex, REALTORS

254-339-9883

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