Foreclosure filings — default notices, scheduled auctions and bank repossessions — fell in Texas, where 10,148 properties were reported in August, a 4 percent decrease from July and 29 percent below the level reported for August 2010, according to the latest RealtyTrac® U.S. Foreclosure Market Report.
Texas had the 24th highest rate in the country with one in every 958 housing units with a foreclosure filing in August.
California continues to lead the nation in terms of total properties with foreclosure filings by a large margin, reporting 59,383 properties with a foreclosure filing. Second ranked Florida reported 23,569 properties with foreclosure filings during the month. Moving up to third place was Michigan, where 13,016 properties with foreclosure filings were reported. Illinois jumped a spot to the fourth highest total, reporting 12,493 properties with foreclosure filings while Georgia dropped two spots and took fifth place, tallying 11,743 properties with foreclosure filings.
The remaining states that make up the nation’s top 10 in August include Arizona (11,081), Texas (10,148), Ohio (9,841), Nevada (9,677) and Colorado (4,933). The top 10 accounted for 73 percent of the nation’s total foreclosure activity for the month.
Kaufman County posts top foreclosure rate in the state for August
One in every 268 housing units in Kaufman County received a foreclosure filing in August — 2.1 times the national average and 3.6 times the state average — the highest foreclosure rate of all Texas counties for the month. Bastrop County had the second highest rate of one in every 391 housing units with a foreclosure filing during the month — 1.5 times the national average and 2.5 times the state average. Rockwall County had the third highest rate of one in every 394 housing units with a foreclosure filing during the month — 1.5 times the national average and 2.4 times the state average.
Harris County led the state in foreclosure activity, reporting 2,485 properties with foreclosure filings for the month. Dallas County was second highest, reporting 1,403 properties with foreclosure filings. Tarrant County was third, reporting 972 properties with foreclosure filings. Fourth highest was Bexar County, recording 863 properties with foreclosure filings. Travis County was fifth tallying 373 properties with a foreclosure filing.
State the nation’s seventh largest contributor to total foreclosure activity in August
Texas accounted for 4 percent of the 228,098 properties with foreclosure filings reported nationwide in August. Total U.S. activity increased by more than 7 percent from July, but was down nearly 33 percent from the level reported in August 2010. One in every 570 U.S. housing units received a foreclosure filing during the month.
“The big increase in new foreclosure actions may be a signal that lenders are starting to push through some of the foreclosures delayed by robo-signing and other documentation problems,” said James Saccacio, chief executive officer of RealtyTrac. “It also foreshadows more bank repossessions in the coming months as these new foreclosures make their way through the process.”
The RealtyTrac U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing entered into the RealtyTrac database during the month — broken out by type of filing by state, county and metropolitan statistical area. Some foreclosure filings entered into the database during the month may have been recorded in previous months. Data is collected from more than 2,200 counties nationwide, and those counties account for more than 90 percent of the U.S. population. RealtyTrac’s report incorporates documents filed in all three phases of foreclosure: Default — Notice of Default (NOD) and Lis Pendens (LIS); Auction — Notice of Trustee Sale and Notice of Foreclosure Sale (NTS and NFS); and Real Estate Owned, or REO properties (that have been foreclosed on and repurchased by a bank). If more than one foreclosure document is received for a property during the month, only the most recent filing is counted in the report. The report also checks if the same type of document was filed against a property in a previous month. If so, and if that previous filing occurred within the estimated foreclosure timeframe for the state the property is in, the report does not count the property in the current month.
Sunday, October 23, 2011
Saturday, August 20, 2011
Median Sale Price for Galveston is relatively unchanged
The median sales price varies throughout the year but when compared to the same time as the previous year it is relatively unchanged. Is this an indicator that the market is finally stabilizing?
Wednesday, July 20, 2011
2nd Quarter Galveston Island Statistics
The 2nd quarter absorption report shows a 13.5 month supply of homes on the market. As you move up in the price range the longer it takes to sell a home. Homes under $400,000 are twice as likely to sell vs. homes priced greater than $400,000 in which there is a two year supply.Thursday, April 14, 2011
West End of Galveston 1st Quarter 2011 Results are in....
The monthly absorption rates for the West End of Galveston Island are depicted above. Most notable is the fact that over the last 12 months 64% of the transactions sold for under $300,000; 77% under $400,000; and 85% under $500,000.
The number of units sold the 1st quarter 2011 equals the number of units sold the 1st quarter 2010 on the West End of Galveston. However the volume and average sales price has decreased 9%. Probably most notable is the inventory has decreased 11%. This will help stabilize the prices as the number of buyers increase this Summer.
Friday, February 25, 2011
Gambling in Texas????
UT/TT Poll: Texans Are Ready to Roll the Dice
•by Ross Ramsey
•2/23/2011
A majority of the state's voters say they're ready for full-blown casino gambling, according to the latest University of Texas/Texas Tribune poll.
In a range of questions on social and other issues, they say they support requiring voters to produce photo IDs, government aid to the poor, the death penalty and requiring doctors to show sonogram results to women seeking abortions.
"The thing that stands out here is that gambling has been consistent [in previous polling]," says pollster Jim Henson, who teaches government and runs the Texas Politics Project at UT. "Texans are not ideologically opposed to revenue increases."
The support for gaming has grown since we last asked the question a year ago. In the new survey, 56 percent say they would allow full casino gambling in Texas. Another 6 percent would expand it, but only to Indian reservations; 12 percent would allow an expansion only in existing locations (racetracks), and the rest would either leave the law alone, 11 percent, or ban gambling altogether, 8 percent. That's a combined "no" vote of 19 percent.
When we last checked with voters on this issue, in February 2010, casinos had the support of 40 percent of voters, and the combined leave it/ban it vote was 31 percent.
Legislators, faced with a budget shortfall of $15 billion to $27 billion, are expecting to see proposals for slot machines at race tracks to more liberal bingo laws to full casinos in the state's major cities and tourist areas on the coast. That sort of legislation requires constitutional amendments, which require two-thirds approval from both the House and the Senate and then approval from voters. Recent efforts to expand the state's gaming laws — bingo, horse and dog tracks, and the lottery are allowed now — have fallen short. But all of those existing forms were approved by legislators in the face of previous big budget shortfalls, which gives hopes to proponents this year.
An earlier part of the poll on the state budget found that 61 percent of Texans would support legalizing and taxing casinos as a way to balance the budget.
Support for requiring photo IDs for voters is overwhelming, with 75 percent in favor and 17 percent opposed. It's favored by virtually every subgroup in the survey: Republicans, independents and Democrats; whites, blacks and Hispanics; men and women; and urban, suburban and rural. Hispanics — one of the populations many fear would be disadvantaged by such a law — favor showing photo IDs by a 68 percent to 22 percent margin. Democrats favor it by a 58 to 32 percent split, independents by a 70 to 19 percent margin. The photo ID law is aimed at voter fraud; on a list of the most important problems facing the state, Texas voters put the voting system and electoral fraud at the bottom.
Texans are divided when asked under what conditions abortion should be legal, with 37 percent saying women should always be able to obtain abortions as a matter of personal choice. The next biggest group, at 31 percent, would allow abortions only in cases of rape, incest and when the life of the mother is in danger. Another 14 percent would allow abortions for other reasons but only after the need for the abortion has been clearly established. And 13 percent say state law should never permit abortions.
Republicans were most likely to approve of abortion only with the three exceptions. A majority of Democrats would make it a matter of personal choice. Hispanics, at 18 percent, were more likely than whites, 13 percent, or blacks, 8 percent, to say it should never be permitted.
Requiring doctors to conduct sonograms and to make the pictures and sounds available to the women before performing abortions has the support of most Texans, with 54 percent in favor (including 38 percent strongly in favor) and 36 percent opposed (including 25 percent strongly opposed). It's favored by a majority of Republicans and independents and opposed by a majority of Democrats. Both men, at 56 percent, and women, at 53 percent, support the idea.
Republican politicians watching the influence of the Tea Party won't find much in social issues to worry about, says pollster Daron Shaw, a professor of government at UT. "The notion that the Tea Party is comprised of a bunch of social issues is overstated," he says. "Nothing appears to divide them from rank-and-file Republican voters on these issues."
Support for capital punishment remains strong in Texas, with 78 percent in favor and only 18 percent against. Both Democrats and Republicans, churchgoers and non-churchgoers, voters in various ethnic groups, and men and women all favor it.
Physician-assisted suicide for people with terminal illnesses has the support of 47 percent of Texas voters, with 36 percent opposed and 17 percent undecided. Voters aged 65 and over were most opposed to the idea, with 45 percent in opposition; every other age group had more support than opposition for it. Those who attend church once a week or more were also opposed to the idea.
Ask Texans whether the government has a responsibility to provide social services for the poor and 12 percent say no. The rest are split, with 23 percent saying the government should supply many social services, 27 percent saying some social services and 25 percent saying few social services.
Pollsters also asked whether Texans want to take redistricting away from the governor and the Legislature and hand it over to an appointed independent commission. More like that notion than oppose it, but it doesn't have majority support: 44 percent would favor the change, 24 percent would oppose it, and 32 percent don't have an opinion. Democrats, who are out of power in state government, want to give the map-making to an independent panel. Republicans, who are in, don't. The independents are with the Democrats on this one.
This University of Texas/Texas Tribune poll is an internet survey of 800 registered voters conducted Feb. 11-17 and has a margin of error of +/- 3.46 percent.
Coming tomorrow: A look at Texans' views on immigration.
© 2011 The Texas Tribune
•by Ross Ramsey
•2/23/2011
A majority of the state's voters say they're ready for full-blown casino gambling, according to the latest University of Texas/Texas Tribune poll.
In a range of questions on social and other issues, they say they support requiring voters to produce photo IDs, government aid to the poor, the death penalty and requiring doctors to show sonogram results to women seeking abortions.
"The thing that stands out here is that gambling has been consistent [in previous polling]," says pollster Jim Henson, who teaches government and runs the Texas Politics Project at UT. "Texans are not ideologically opposed to revenue increases."
The support for gaming has grown since we last asked the question a year ago. In the new survey, 56 percent say they would allow full casino gambling in Texas. Another 6 percent would expand it, but only to Indian reservations; 12 percent would allow an expansion only in existing locations (racetracks), and the rest would either leave the law alone, 11 percent, or ban gambling altogether, 8 percent. That's a combined "no" vote of 19 percent.
When we last checked with voters on this issue, in February 2010, casinos had the support of 40 percent of voters, and the combined leave it/ban it vote was 31 percent.
Legislators, faced with a budget shortfall of $15 billion to $27 billion, are expecting to see proposals for slot machines at race tracks to more liberal bingo laws to full casinos in the state's major cities and tourist areas on the coast. That sort of legislation requires constitutional amendments, which require two-thirds approval from both the House and the Senate and then approval from voters. Recent efforts to expand the state's gaming laws — bingo, horse and dog tracks, and the lottery are allowed now — have fallen short. But all of those existing forms were approved by legislators in the face of previous big budget shortfalls, which gives hopes to proponents this year.
An earlier part of the poll on the state budget found that 61 percent of Texans would support legalizing and taxing casinos as a way to balance the budget.
Support for requiring photo IDs for voters is overwhelming, with 75 percent in favor and 17 percent opposed. It's favored by virtually every subgroup in the survey: Republicans, independents and Democrats; whites, blacks and Hispanics; men and women; and urban, suburban and rural. Hispanics — one of the populations many fear would be disadvantaged by such a law — favor showing photo IDs by a 68 percent to 22 percent margin. Democrats favor it by a 58 to 32 percent split, independents by a 70 to 19 percent margin. The photo ID law is aimed at voter fraud; on a list of the most important problems facing the state, Texas voters put the voting system and electoral fraud at the bottom.
Texans are divided when asked under what conditions abortion should be legal, with 37 percent saying women should always be able to obtain abortions as a matter of personal choice. The next biggest group, at 31 percent, would allow abortions only in cases of rape, incest and when the life of the mother is in danger. Another 14 percent would allow abortions for other reasons but only after the need for the abortion has been clearly established. And 13 percent say state law should never permit abortions.
Republicans were most likely to approve of abortion only with the three exceptions. A majority of Democrats would make it a matter of personal choice. Hispanics, at 18 percent, were more likely than whites, 13 percent, or blacks, 8 percent, to say it should never be permitted.
Requiring doctors to conduct sonograms and to make the pictures and sounds available to the women before performing abortions has the support of most Texans, with 54 percent in favor (including 38 percent strongly in favor) and 36 percent opposed (including 25 percent strongly opposed). It's favored by a majority of Republicans and independents and opposed by a majority of Democrats. Both men, at 56 percent, and women, at 53 percent, support the idea.
Republican politicians watching the influence of the Tea Party won't find much in social issues to worry about, says pollster Daron Shaw, a professor of government at UT. "The notion that the Tea Party is comprised of a bunch of social issues is overstated," he says. "Nothing appears to divide them from rank-and-file Republican voters on these issues."
Support for capital punishment remains strong in Texas, with 78 percent in favor and only 18 percent against. Both Democrats and Republicans, churchgoers and non-churchgoers, voters in various ethnic groups, and men and women all favor it.
Physician-assisted suicide for people with terminal illnesses has the support of 47 percent of Texas voters, with 36 percent opposed and 17 percent undecided. Voters aged 65 and over were most opposed to the idea, with 45 percent in opposition; every other age group had more support than opposition for it. Those who attend church once a week or more were also opposed to the idea.
Ask Texans whether the government has a responsibility to provide social services for the poor and 12 percent say no. The rest are split, with 23 percent saying the government should supply many social services, 27 percent saying some social services and 25 percent saying few social services.
Pollsters also asked whether Texans want to take redistricting away from the governor and the Legislature and hand it over to an appointed independent commission. More like that notion than oppose it, but it doesn't have majority support: 44 percent would favor the change, 24 percent would oppose it, and 32 percent don't have an opinion. Democrats, who are out of power in state government, want to give the map-making to an independent panel. Republicans, who are in, don't. The independents are with the Democrats on this one.
This University of Texas/Texas Tribune poll is an internet survey of 800 registered voters conducted Feb. 11-17 and has a margin of error of +/- 3.46 percent.
Coming tomorrow: A look at Texans' views on immigration.
© 2011 The Texas Tribune
Saturday, March 20, 2010
Galveston Island Real Estate Market Statistics
The link below depicts the Real Estate market on Galveston Island over the past year. If you run your pointer over the graph it will give you the exact number.
http://www.garygreene.com/terabitzApi/graph/alert.php?id=241
As you can see the graphs indicate an upward swing in volume for February from the previous year. A majority of this is a reflection of fewer "as is" hurricane damaged homes selling for $20,000 to $50,000. This is also reflected in the increase in average sales price
The quantity sold in February 2010 was virtually the same as the quantity sold in February 2009.
The supply of available homes is on the rise which is typical for this time of year.
The most interesting graph is reflected for the foreclosures. The new foreclosures coming on the market appears to be leveling off while the number of foreclosure sales appears to be rising. The interesting item to note is not reflected in the graph. A majority of foreclosures sold close for a price greater than this list price. The attraction to foreclosed properties is phenomenal.
Remember this graph is for the entire Island. Tomorrow I will post for the West End of Galveston.
http://www.garygreene.com/terabitzApi/graph/alert.php?id=241
As you can see the graphs indicate an upward swing in volume for February from the previous year. A majority of this is a reflection of fewer "as is" hurricane damaged homes selling for $20,000 to $50,000. This is also reflected in the increase in average sales price
The quantity sold in February 2010 was virtually the same as the quantity sold in February 2009.
The supply of available homes is on the rise which is typical for this time of year.
The most interesting graph is reflected for the foreclosures. The new foreclosures coming on the market appears to be leveling off while the number of foreclosure sales appears to be rising. The interesting item to note is not reflected in the graph. A majority of foreclosures sold close for a price greater than this list price. The attraction to foreclosed properties is phenomenal.
Remember this graph is for the entire Island. Tomorrow I will post for the West End of Galveston.
Tuesday, March 9, 2010
14454 Spyglass Circle - Galveston, Texas
Contemporary Beachfront home in Pirates Beach West. The beachside of the home is protected by State Owned 600ft of wetlands.
Check out the pool built in the deck of this home!
See more of this gorgeous fully furnished and professionally designed home at www.14454spyglass.com
Subscribe to:
Posts (Atom)
