Government Foreclosures. Foreclosed Homes, Properties & Real Estate Auctions

Texas Foreclosures

Mesquite Foreclosed Homes and Houses for Sale

Tempting Choices in Rodeo Capital

The Mesquite real estate listings auctions currently include a relatively few 386 foreclosed homes and houses for sale in the imminent future. These are attractively priced at the median listed tag of an alluring $91,000. This compares very favorably with the national median price of a foreclosed home of about $160,000. Besides, there are 646 other MLS and FSBO homes also figuring in the Mesquite property auctions. These properties have the median asking price of a higher $115,800. This proves that at the Mesquite foreclosure auctions, the foreclosed properties are enjoying a discount over the usual market prices of about 20 percent. However, foreclosure auctions have frequently enjoyed discounts of up to 50 percent in several US cities and towns. The auctioneer of the seized homes is variously HUD, VA, Freddie Mac, Fannie Mae or the Sheriff, but the highest share of the foreclosures is accounted for by banks. Shirley Roberts, Floria Talbert, George Venner, Wanda Jones and Phil Young are among the prominent real estate dealers functioning in Mesquite.

Mesquite is a city situated in the Dallas and Kaufman Counties in the US state of Texas. The city is a suburb of Dallas. It is also referred to as the “Rodeo Capital of Texas” because it plays host to the Mesquite Championship Rodeo. Dallas County is the biggest county in Texas, and the ninth most populated county in the entire US. The seat of Dallas County is the city of Dallas. The county is a part of the Dallas–Fort Worth–Arlington MSA {metropolitan statistical area}. The various suburban cities and towns of Mesquite include Addison, Cockrell Hill, Ferris, Irving, Grand Prairie, Lancaster, Garland, Wylie, Lewisville, Wilmer, Richardson, Sunnyvale, Rowlett, Seagoville and University Park.

Ongoing Millions of Government Foreclosures

There have been millions of government foreclosures in the US in the last few years. Indeed, as per statistics by market analysts, one in every 500 odd homes in the US is getting foreclosed even right now owing to default in mortgage payments. The US states with the highest foreclosure rates in recent times have been Nevada, California, Arizona, Florida and Michigan. Each of the preceding states has respectively suffered one in every 122, 192, 201, 211 and 375 homes succumbing to the ogre of government foreclosures.

Whatever may be the genesis of the subprime crisis at the macro level, at the level of the average individual homebuyer, it can be said that financial miscalculation and imprudence did play a role. Most defaulters couldn’t manage to timely repay a monthly installment of $2,500. However, the same homeowners would in all probability have found a periodic repayment of $1,500 quite comfortable. This merely stresses that investments, and especially real estate forays, need to be undertaken after an objective evaluation of one’s own financial resources and restraints, and along with a careful study of the current and expected market trends and returns. Property investments can invite unsavory consequences for the adventurous speculator. The global downturn yet continues and the housing market has far from stabilized in the US. Therefore, you ought to be cautious about property investments.

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