More than 42,000 Dallas-Fort Worth area homes have gone on the foreclosure auction block since January 2008, up more than 35% from 2007, according to the Dallas Morning News. This is a new record for Dallas-Fort Worth. But despite the rise in foreclosures, the market remains unstable with only 40% of the homes being sold after they go to auction.

There seems to be an unusual surge of homes going into …

Tags: Dallas-Fort Worth foreclosure

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According to an article in the Dallas Morning News, Nokia Siemens Networks announced that it will implement 100 job losses in the Dallas area.  The company employs 900 Dallas residents and 64,000 workers worldwide. The job losses are a part of Nokia’s global reorganization designed to save more than $700 million by the end of 2011.

The article said:

“The company said it expects to eliminate 7 percent to 9 percent …

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According to an article in the Dallas Morning News, the national unemployment rate rose to 9.5 percent as employees suffered 298,000 job losses in August. But increased job losses and high unemployment hasn’t stopped many companies from enjoying higher productivity.

The article said:

“… U.S. worker productivity rose in the second quarter at the fastest pace in almost six years as companies squeezed more out of …

Category: Dallas Bankruptcy , Economy , Unemployment - Job Loss

Tags: Dallas Morning News Employment Labor Department Productivity Unemployment

There were 2,431 Dallas- Fort Worth commercial real estate foreclosures in 2009, that’s up from 1,900 commercial foreclosures in 2008.

The biggest rise in commercial foreclosure filings in 2009 was in postings for office – up 121 percent – and retail buildings, up 20 percent.  Foreclosure filings for commercial land also increased by 71 percent compared with 2008. Apartments were near the top of …

Comment by uberVU – social comments: … by allmandandlee: Dallas-Fort Worth Commercial Real …

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Category: Dallas Bankruptcy , Economy , Foreclosures , Unemployment - Job Loss

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According to an article in the Dallas Morning News, more than 250 Dallas- Fort Worth area commercial and investment properties are facing foreclosure in October. The properties have more than $400 million in debt attached to them and included in the foreclosure filings are several large developments.

The article said:

“The just-completed Two Addison Circle office building on the Dallas North Tollway is scheduled for …

Category: Dallas Bankruptcy , Foreclosures , Fort Worth Bankruptcy

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According to an article in the Dallas Morning News, the number foreclosures scheduled for next month in the Dallas- Fort Worth area  increased by 34 percent from a year ago.

The article said:

“Much of the increase is due to loan modification programs, which have delayed foreclosures from previous months. Almost 6,000 homes are scheduled to be sold at foreclosure next month…”

And some of the foreclosures are …

Category: Bankruptcy , Dallas Bankruptcy , Economy , Foreclosures , Fort Worth Bankruptcy , Loans / Mortgages , Subprime Mortgages

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According to an article in the Dallas Morning News, Dallas- Fort Worth area apartment rents are seeing declines by as much as 8 percent in some Dallas-Fort Worth neighborhoods. Also, Dallas-Fort Worth apartment vacancy rates are at 10 percent, despite the rise in foreclosures throughout the community.

The article said:

“So far this year, North Texas tenants have moved out of more than 6,900 apartments than were …

Category: Breaking News , Dallas Lawyer , Foreclosures

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According to an article in the Dallas Morning News, there are more than 6,000 properties posted for foreclosure in the Dallas- Fort Worth area. That’s a 62 percent jump from just a year ago. Dallas-Fort Worth has already experienced more than 35,000 foreclosure filings in 2009 alone and we’re only at the mid-point in the year. And despite foreclosure prevention funds given to mortgage companies, the number of …

Category: Breaking News , Dallas Attorney , Foreclosures

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According to an article in the Dallas Morning News, the City of Dallas is facing a $100 million budget deficit that may cause them to cut services to close the gap.

The article said:

The first round of proposed cuts has put the jobs of nearly 350 city employees at risk and placed everything from police overtime to Dallas Zoo exhibits on the chopping block.

Though City Manager Mary Suhm has said she is not prepared to …

Category: Breaking News

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According to an article in the Dallas Morning News, the Dallas Housing Authority has received $8.8 million to use for public housing as part of the Obama administration stimulus package. The agency plans to use the funds to replace roofs, upgrade security lights, resurface parking lots and replace carpets in many public housing properties. The Dallas Housing Authority which owns and manages 3,900 units at 27 locations also …

Category: Breaking News

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According to an article in the Dallas Morning News, office leasing in the Dallas- Fort Worth area has declined by almost 800,000 square feet in the first quarter of 2009. It’s the first large drop in commercial real estate leasing Dallas-Fort Worth has experienced in six years. Many companies are facing slowing sales and the prospect of closing some locations to avoid bankruptcy, making them reticent to sign on to new …

Category: Breaking News

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According to an article in the Dallas Morning News, the Commerce Department reported that new home sales have dropped in September by 3.6 percent.  Some analysts expect that the drop off in sales is a result of potential homebuyers delaying their decision to buy a home due to the expiring tax credit which will end November 30, 2009.

The article said:

“It has been taking longer to close a transaction this year because …

Tags: Dallas Morning News foreclosure Mortgage Tax credit