Magnolia TX Foreclosure Trends – October 2011

There were 176 Magnolia TX foreclosure homes in October 2011, according to RealtyTrac.com with 1 in every 754 housing units receiving a foreclosure filing. The average sales price of a Magnolia TX home was $217,594 in October while the average sales price of a Magnolia TX foreclosure home was $131,631, a $85,963 savings.

Magnolia TX Foreclosure Activity and 30-Year Interest Rate

Magnolia TX foreclosure activity had 21 new foreclosed homes in October while interest rates dropped to 4.07%.

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 0.05% below national statistics,  0.03% above state figures, and 0.01% below Montgomery County numbers in October.

 

Magnolia TX Foreclosure Activity by Month

The number of bank-owned properties decreased from 17 in September 2011 to 7 in October, while the number of auctions decreased from 35 to  14. There is a six month rising 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.