We are number one! (Houston, Missouri City: foreclosures, rental, condos)

[Topaz]

...in foreclosures, that is. Fort Bend County now has the highest percentage of homes in foreclosure of any Texas county.

1 in 369 homes in foreclosure. Missouri City and Richmond have the most foreclosures.

FortBendNow.com article (http://fortbendnow.com/pages/full_story?page_label=home&id=321289&widget=push&a rticle-A-Dubious-Ranking-For-Fort-Bend-No-In-New-Real-Estate-Foreclosures%20=&instance=home_news_bullets&open=& - broken link)

[Wysiwyg]

weird. I was just searching har.com for foreclosures in Katy, Sugarland, Cypress areas today.

well congratulations. your schools might actually get even better

[desertsun41]

YIKES !!!

Only one in 369 ? Im laughing pretty hard here. Where I just left in Las Vegas which leads the nation in foreclosures, 1 in every 26 homes are in some stage of foreclosure. That is no misprint. 1 in every 26. Unless things changed since I looked at the charts last, in Stockton, CA, 1 in every 29 homes are in foreclosure. Several of the surrounding towns near Stockton were all in the 1 in 30s range. That's bad !

Texas is the 13th largest economy in the world. Larger then many countries. I wish I can say Texas will never experience a deep depression like Vegas and a few others are right now but "never say never". Things are pretty stable here right now compared to most of America so we all need to be gratefull for that.

[Jamesww]

Detriot has a 1:33 ratio. So, I think Fort Bend is just number one in Texas right now.

[ZeroTX]

I can see that in Missouri City. We looked a lot there for houses in our price range and had a good hard look at the neighbors. You know something's fishy when you can get a good condition 2-story 2,400 sq/ft house move-in ready for 126k, in what APPEARS to be a really nice neighborhood.... Thing is, it once was a nice neighborhood. What happened? Look at the neighbors. It's all about priorities or lack of judgement in the ability to determine them. When you start seeing a bunch of big SUVs with 24" chromes in the driveway, the place is headed to the crapper... foreclosures out the wazoo. People who are concerned with the IMAGE of being rich rather than how to live within one's means.

[EasilyAmused]

Originally Posted by ZeroTX

People who are concerned with the IMAGE of being rich rather than how to live within one's means.

Uh, that's not just in Missouri City. It's a McMansion Plague.

[tstone]

Some people do it with McMansions & excessiveness up the ***, others do it with trendy "Cosmo" inner city condos with his & her baby Euro cars (or Infiniti coupes), $50 wine, and a smug attitude to boot. One is really no different from the other.

Originally Posted by ZeroTX

It's all about priorities or lack of judgement in the ability to determine them. When you start seeing a bunch of big SUVs with 24" chromes in the driveway, the place is headed to the crapper... foreclosures out the wazoo. People who are concerned with the IMAGE of being rich rather than how to live within one's means.

Yep, that's a good indicator I've seen as well. There are nicer cars & rims in the $100k neighborhoods around the area vs. the $175-275k homes. Go to the relative high end and there are all kinds of seriously nice cars (nicer than the cosmo G35 or C230), but there is a noticable lack of rims.

[Wysiwyg]

Originally Posted by ZeroTX

I can see that in Missouri City. We looked a lot there for houses in our price range and had a good hard look at the neighbors. You know something's fishy when you can get a good condition 2-story 2,400 sq/ft house move-in ready for 126k, in what APPEARS to be a really nice neighborhood.... Thing is, it once was a nice neighborhood. What happened? Look at the neighbors. It's all about priorities or lack of judgement in the ability to determine them. When you start seeing a bunch of big SUVs with 24" chromes in the driveway, the place is headed to the crapper... foreclosures out the wazoo. People who are concerned with the IMAGE of being rich rather than how to live within one's means.

told you you should visit places with homes higher than what youve budgetted. theres not one blingity car in my neighborhood in ghetto Alief because I guess "your peers" is different or atleast badness is less pronounced at higher price ranges. also you should consider the possibility that 100k houses are bought as rental properties which caters for the blingity crowd

[AK123]

Originally Posted by Topaz

...in foreclosures, that is. Fort Bend County now has the highest percentage of homes in foreclosure of any Texas county.

1 in 369 homes in foreclosure. Missouri City and Richmond have the most foreclosures.

FortBendNow.com article (http://fortbendnow.com/pages/full_story?page_label=home&id=321289&widget=push&a rticle-A-Dubious-Ranking-For-Fort-Bend-No-In-New-Real-Estate-Foreclosures%20=&instance=home_news_bullets&open=& - broken link)

That's it? That's still way, way better than most of the rest of the country. The Houston area has been incredibly fortunate with everything going on.

Fort Bend does have a lot of new construction and starter homes though, so that probably explains the high numbers compared to the rest of the state.

[AddieJane]

That's not bad AT ALL. Consider yourself lucky. Out here in California, the foreclosure rate is through the roof. Good for me though. Purchasing first home in expensive area.