Foreclosures Up in Texas in Third Quarter

Foreclosures Up in Texas in Third QuarterThere’s a rising trend in Texas toward buying foreclosed homes.

According to a recent analysis by Irvine, Calif.-based RealtyTrac, between July and September of this year, a total of 9,781 foreclosed homes were sold in Texas — marking a 24.17 percent increase in the number of foreclosed homes purchased in Texas over the same three months in 2011.

The discount for such homes certainly make them an attractive buy. The average price of a foreclosed home in Texas is $109,582 — which represents an 18.62 percent discount from the average price of a market-rate home in Texas.

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Authored By Tricia Lynn Sylva – See the Full Story at BizJournals.com

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