The below article was written by Danny Gallagher - McKinney Courier-Gazette on Wednesday, July 15, 2009
Collin County's foreclosures rose by more than two-thirds...
Real estate experts who compiled foreclosure data for the first half of 2009 used jarring words like "skyrocketed" to describe their findings.
Foreclosures in Collin County rose by more than 75% for the first half in 2009 compared to the same time in 2008, according to recent data complied for Foreclosure Listing Service for the Dallas-Fort Worth area.
A total of 130 homes went on the auction block from January to July this past year compared to only 74 homes that were foreclosed on in the same time frame in 2008, a difference of 76 percent, according to tabulated data.
Collin County had the second highest year-to-date difference of the year. Denton County posted the highest increase rate with 156 homes in the first half of 2009 representing an increase of 136 percent, according to collected data.
"Denton and Collin Counties do not have the largest volume of commercial postings," said FLS senior president George Roddy. "That title still belongs to the Metro's most urban counties - Dallas and Tarrant."
Dallas County only posted 27 percent increase from the first half of 2008 to 2009, and Tarrant County actually saw a decrease of 27 percent in foreclosures for the same period, according to the data.
"However, both Denton and Collin Counties have seen tremendous growth in both the commercial and residential real estate markets over the last decade," Roddy said. "That growth has led to these two suburban counties laying claim to a bigger piece of the foreclosure pie. About 23 percent of the entire Metro's commercial posting activity for the first seven months of this year rests within the boundaries of Collin and Denton Counties."


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