Where are the most foreclosures? (Dallas, Fort Worth: for sale, real estate, loans)

[citykid12]

What Northern Dallas towns/subdivisions have the most foreclosure's right now? We're planning to look around Highland Village, Lewisville, Frisco, Allen, Plano, Richardson, Carrollton, and North Dallas. What areas should we avoid? Thanks!

[compSciGuy]

Frisclosure?

[TurtleCreek80]

You need to focus on specific neighborhoods as real estate is a VERY LOCAL thing.

Here is an interactive map plotting out foreclosures for the first half of 2010, compliments of the Dallas Morning News. They are also available for first and second half of 2009 so you can plot neighborhood trends. You may want to peruse it for info - it actually shows the exact addresses of FC/ed homes. It will be a tedious process to compile by zip code, but worth it considering how big an investment your home is.

Dallas - Fort Worth Foreclosures for the first half of 2010
Dallas - Fort Worth Foreclosures for 2009

For example, in first half 2010, Frisco had 205 foreclosures out of 41,548 housing units (.49%). Of that 205,
-22 were in GRIFFIN & HEATHERWOOD sub-divs (on top of 37 FC's last year)
-21 were in GRAYHAWK (on top of 58 homes for sale currently AND 40 FC's last year).
-17 were in THE TRAILS
-7 in WEST FALLS VILLAGE
-Only 5 were in QUAIL MEADOW VILLAGE (although this sub-div is pretty small)
-Only 5 were in STARWOOD
-Only 1 in HERITAGE GREEN

[momof2dfw]

Originally Posted by citykid12

What Northern Dallas towns/subdivisions have the most foreclosure's right now? We're planning to look around Highland Village, Lewisville, Frisco, Allen, Plano, Richardson, Carrollton, and North Dallas. What areas should we avoid? Thanks!

Just looked at the link posted by TurtleCreek...... of the places listed I'd go w/ Allen, Richardson or North Dallas. Of the new burbs in the area (Frisco, Allen, McKinney, etc) Allen has the least foreclosures of the bunch.

I'm also on the phone as we speak w/ my mom, a Realtor whose good friend is a Realtor in Carrollton and she told her today that the prices in Carrollton are plummeting drastically right now.

[TurtleCreek80]

Originally Posted by momof2dfw

Just looked at the link posted by TurtleCreek...... of the places listed I'd go w/ Allen, Richardson or North Dallas. Of the new burbs in the area (Frisco, Allen, McKinney, etc) Allen has the least foreclosures of the bunch.

I'm also on the phone as we speak w/ my mom, a Realtor whose good friend is a Realtor in Carrollton and she told her today that the prices in Carrollton are plummeting drastically right now.

The Carrollton info makes sense, especially with Farmer's Branch wanting to leave the Carrollton-FB ISD right now. Also, the Green Line expansion is great for commuting, but expanded public transit usually means the homeless and other less desirable types will be coming soon. People have probably forgotten, but the amount of homeless/ vagrants / etc around SMU/ Greenville & Lovers/ every exit north on 75 were NOT there prior to the DART rail being built.

[momof2dfw]

Originally Posted by TurtleCreek80

The Carrollton info makes sense, especially with Farmer's Branch wanting to leave the Carrollton-FB ISD right now. Also, the Green Line expansion is great for commuting, but expanded public transit usually means the homeless and other less desirable types will be coming soon. People have probably forgotten, but the amount of homeless/ vagrants / etc around SMU/ Greenville & Lovers/ every exit north on 75 were NOT there prior to the DART rail being built.

What is interesting is the pretty low number of foreclosures in Farmers Branch. I counted exactly 30. Carrollton on the other hand....... not so good. My mom's friend lives in a nice area of Carrollton of all custom homes that has always been really nice and one of the better elementary schools in the district in that neighborhood....... house behind her is now listed at $109K My parents sold their aging F&J 3 years ago for $145K. Yep, that is a HUGE drop. The 2010 appraised value is less than that now.

Some areas have done well w/ the DART areas being redeveloped and kept them clean and free of homeless, etc. Others, not so much. If Carrollton is not on top of it and right now it does not sound like they are it will not be as fortunate in that area.

[FarNorthDallas]

My neighborhood in zip code 75248 had 3 foreclosures in 2009 and zero so far in 2010. We have about 550 houses in our 'hood.

[catluvr]

Originally Posted by momof2dfw

Some areas have done well w/ the DART areas being redeveloped and kept them clean and free of homeless, etc. Others, not so much. If Carrollton is not on top of it and right now it does not sound like they are it will not be as fortunate in that area.

I ride DART everyday and I have not seen any vagrants going as far north as Carrollton. I see them downtown, and as far north as Parkland but not Carrollton. I can't see Carrollton appealing to homeless. There is nothing around North Carrollton/Frankfort or Trinity Mills station that would offer vagrant opportunity; maybe downtown Carrollton, but even then not so much; one must have some of the following things to appeal to the homeless (fast food, drugs, prostitution, dumpsters, places to rob, park benches, etc.) There are a few bridges, but homeless can find that around 8th street, Victory Station, etc. I don't see the homeless appeal.

[loves2read]

article in Realty times about the coming flood of foreclosures to hit the market in 2011--partly because the banks have been holding off and holding off getting shed of their pools because they did not want to lower their earnings and other factors--
depending on how many pending ones in the DFW area you could see many more this first half than last year---
while I don't trust 100% of info from that source--especially when they quote Armando Montelongo from SA about rehabbing houses that are foreclosures--this is something I have read about in many other sources and it just makes a lot of sense that banks would have been holding as many of their bad loans off the market as they can get away with...