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Collin County Foreclosure Facts

Collin County Foreclosure Facts

Foreclosure Finds

A client called yesterday and wanted some foreclosure info to help fight property tax increases, the criteria went something like this: can you do a search for all sold foreclosures in Collin County this year by Fannie Mae?

The answer is yes, I can do by seller type: as in foreclosure but to break it down by owner type is difficult because this is not an input field that every listing agent fills in.  So we broke it down to all foreclosures sold in Collin County since 2009 and all prices.  Can you guess the number? Don’t think you’ll be surprised….

1172 units have sold in Collin County.  When I ran the report today 10 more had closed.  Yes, friends that world is fast and furious.  68% of these properties are under $200K.  But there are some upper end gems out there.  Over $500K represents 2.2% of the sold inventory.

Just to give you another idea of the break neck activity, there are only 201 active foreclosures in all of Collin County, 25 are active option (in option period) and 256 are pending (waiting to close). Foreclosures have a shortage of listings too but that will change, I can promise that.  Not all of the pending transactions will close due to financing or the bank making it difficult to buy, so it’s worth to watch if you missed a property you wanted to buy.  Interesting stats and times…

About Terry Smith

Passionate about real estate, positive problem solver, specialty boutique real estate brokerage that does things your way! A full-time Broker & REALTOR®, helping people buy and sell homes in the Dallas - Plano area. Whether you're a buyer just starting out or someone with luxury properties to sell. I have extensive knowledge and experience to help you with your real estate transaction. I am a native Dallasite. Have questions? Ask me. You can find me on Google+ and Pinterest.

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