McKinney foreclosure listings and properties currently feature 1,391 foreclosures, 636 preforeclosures, 1,183 bankruptcies, and 138 for sale by owner (FSBO), as per the latest available data at the time of posting this. McKinney is the county seat of Collin County, in the US state of Texas.The Census Bureau had frequently listed McKinney as the nation’s fastest growing city, among cities with more than 50,000 people. In 2008, it has cited McKinney as the third-fastest growing city with a population of over 100,000.
Collin County is part of the Dallas / Fort Worth Metroplex. So, the virtual suburbs of McKinney would include the following cities and towns: Anna, Allen,Blue Ridge, Copeville,Fairview, Celina, Carrollton, Dallas, Frisco, Farmersville, Garland, Josephine, Lavon, Lowry Crossing, Lucas, Murphy, Melissa, Nevada, Parker,Princeton,Sachse, New Hope, Plano, Richardson, Prosper,Royse City,Westminster, St Paul and Weston.
Latest US Government’s Foreclosure Initiatives
All prospective bidders at the McKinney property auctions, as elsewhere, cannot but find the following three new items of information pertaining to the US government’s stance on foreclosures greatly interesting and useful. Firstly, the new housing bill has approved the grant of an interest-free federal grant of $7,500 to all first-time homebuyers at the foreclosure auctions. Secondly, by the next year {2009}, a Nationwide Mortgage Licensing System and Registry is to be set up. All loan officers and loan originators would need to register themselves with this central depository. This will protect the interests of those availing themselves of loans, and put a curb to the existing unfair trade practices. Thirdly, concerned at the plight of the millions of home-owners coyly succumbing to the government foreclosures, the government has come up with a helpful website guiding investors on how to avoid foreclosures. Therefore, you ought to acquaint yourself with the contents of the website.
Agents Make or Mar Fortunes
Participants at the McKinney foreclosure auctions, and in particular, first-time buyers, are likely to be tremendously helped by the advice that a competent real estate agent can give them. Arnie Abrahamson, John Christie, Carolyn Underwood, Susi Mitchell and Kelly Davis are a few prominent property dealers of McKinney. An agent is compensated by the seller from the sale proceeds; so, as a buyer, you would be getting virtually free guidance and tips. You ought to verify the agent’s credentials before entrusting her with your fortunes at the property auctions. A good agent will be experienced, astute, street-smart, accessible, considerate to your specifications, and responsive to your requests. The agent can suggest homes suitable for you in McKinney, help you to determine your maximum bid price for the foreclosure auctions, and offer you down-to-earth tips on your effective conduct at the property auctions. It would be little exaggeration to state that your choice of an agent can prove the decisive factor in whether you clinch a lucrative deal or incur the liability of a white elephant at the foreclosure auctions.
