from the San Antonio Business Journal – by Tricia Lynn Silva
A total of 1,143 foreclosure notices were filed in the Bexar County Courthouse for the upcoming July auction — down 27 percent from the 1,561 postings filed for the July 2010 auction, according to the latest analysis by Addison, Texas-based Foreclosure Listing Service (FLS).
The July report marked “the fourth month in a row that monthly posting levels have been lower than for the same month one year ago,” observes George Roddy Sr., president of FLS.
“While I am not ready to say the foreclosure market has rebounded, I am certainly encouraged,” continues Roddy. “Frankly, if this year-over-year decline continues for two more months, reaching six consecutive months, then we may be able to see the other side of this foreclosure crisis.”
Another bit of positive news — July marked the third consecutive month that postings have fallen below the 1,200-per-month threshold, Roddy says.
“So, on two counts, July’s 1,143 postings brought welcomed news,” he adds.
George Roddy Jr.’s comments with Roddy.com: As we have mentioned for several months, the worst is behind us, but the reduction of Texas foreclosures will slow down and remain the same for the next 12-18 months before lowering again.
George Roddy, Jr.