Magnolia TX Foreclosure Trends – May 2011

There were 138 Magnolia TX foreclosure homes and 27 new foreclosure filings in May 2011, according to RealtyTrac.com. The average sales price of a Magnolia TX home was $242,049 in April while the average sales price of a Magnolia TX foreclosure home was $217,691.

Magnolia TX Foreclosure Activity and 30-Year Interest Rate

Magnolia TX foreclosure activity remained the same with 27 new foreclosed homes in May while interest rates dropped to 4.64%.

Magnolia TX foreclosure activity is based on total number of properties that receive foreclosure filings…default notice, foreclosure auction notice or bank repossession…each month. Interest rate is based on average 30-year fixed rate from Freddie Mac’s Primary Mortgage Market Survey.

Magnolia TX Foreclosure Geographical Comparison

Magnolia TX foreclosures were the same as national statistics,  0.08% above state figures, and 0.04% above Montgomery County numbers in May.

 

Magnolia TX Foreclosure Activity by Month

The number of bank-owned properties decreased from 12 in April 2011 to 11 in May, while auctions increased from 15 to 16. There is a six month falling trend.

 

Are you or someone you know behind on mortgage payments and facing a foreclosure? You do have options. A short sale may be the answer to saving you, your family and even some of your credit. Visit CheckOutShortSales.com and give us a call for a private consultation.