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 …

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

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More than 5.7 percent of Dallas- Fort Worth homeowners are more than 90 days delinquent on their mortgage and facing a possible foreclosure.  Plus, another 1.41 percent of Dallas-Fort Worth homeowners are already in foreclosure.  The irony of this is that we are constantly being told that the recession is clearing and that things are getting better.  But all the while Dallas-Fort Worth homeowners are risking …

Category: Dallas Bankruptcy , Economy , Foreclosures , Fort Worth Bankruptcy

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According to an article in the Star-Telegram, Dallas- Fort Worth has one of the worst oversupply of condos in the country.  Dallas alone has a five-year supply of million-dollar condo units sitting empty.  The high priced condos account for 1 out of every 4 condos in foreclosure The glut of condos have been hurting prices and forcing many condo owners into foreclosure because they simply can’t sell their units for anywhere near what …

Category: Dallas Attorney , Economy , Foreclosures , Fort Worth Attorney , Loans / Mortgages , 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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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 …

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5,548 Dallas- Fort Worth area homes were posted for forced sale in March’s foreclosure auctions.

 

Concerning foreclosures, the Dallas-Fort Worth area is definitely not out of the woods yet.  There has been somewhat of a turnaround in the economy, but many people are continuing to struggle.  According to Dallas area-based Foreclosure Listing Service Inc., 5,548 homes were posted for …

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Foreclosures in the Dallas- Fort Worth area rose again by 18 percent compared to last month’s foreclosure filings.  But compared to last year’s foreclosure filings in the same month, the foreclosures increased by a whopping 37 percent.  Many analysts believe that many foreclosures that were on hold at the end of 2009 are now being released causing the most recent rise in foreclosures.  Also, many …

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The developers of the 6,000-acre Dallas Logistics Hub have filed for Chapter 11 bankruptcy protection to reorganize their debts and improve their dismal balance sheet.  Master Land Holding LLC and its parent company Allen Capital Partners LLC said the bankruptcy filing would allow them to “extend debt maturities, improve their capital structure and further strengthen the Dallas Logistics Hub’s competitive position.” …

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One of Dallas’ oldest skyscrapers, the 52-story Elm Place tower at 1401 Elm Street, is closing down due to a foreclosure and an extremely low occupancy rate.

[Guerrino] Savio [who represents the owners] said occupancy in the office tower had fallen to about 20 percent last year and has recently gone even lower.

“It got to the point it was impossible to keep operating,” he said. “For …

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The Dallas- Fort Worth area is experiencing the highest vacancy rates for its apartment communities in about 20 years.  Only 88.8 percent of Dallas-Fort Worth apartments were rented in 2009, compared to 91.6 percent rented in 2008, which could spell imminent foreclosure for many landlords.

You might suspect that homeowners who suffered foreclosure would move into apartments thus boosting the …

Category: Dallas Bankruptcy , Economy

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… Sales tax revenue has declined a full 15 percent statewide, 17 percent in Fort Worth with Dallas fairing a little better at a 5.3 percent decline.  An unrelenting string of job losses, elevated long-term unemployment and increased vulnerability to foreclosure have caused many consumers to spend more cautiously than many economists had expected.

Many analysts fear that the pronouncements that the recession is ending are premature and not in line with reality.  While the number of …

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