San Marcos Record, San Marcos, TX

Local News

September 29, 2009

Foreclosures spike again

By Anita Miller

San Marcos — The more than four and a half inches of rainfall this month and last has transformed the Central Texas landscape.

But, the drought’s not broken yet, and likewise, the recession’s ongoing, continuing to cause spikes in the number of homes and other properties listed for foreclosure. In Hays, Travis and Williamson counties, the number of properties listed for auction one week from today will be higher than any October on record.

That was the news this week from Addison-based Foreclosure Listing Service, (FLS), which tracks listings in nine Central Texas counties.

The October postings include 144 in Hays, 454 in Williamson and 798 in Travis, the service said. That marks the second month this year that Hays listings have numbered 140 or more, with the other being July.

“Over the last year, October’s posting activity has risen 80 percent from the 80 postings filed for the tenth auction of 2008,” said FLS President and CEO George Roddy, adding that, “over the past two years, postings have escalated at a rate of 155 percent, up from the 67 notices filed for the October auction in 2007.”

Roddy also noted that October will be the ninth consecutive month that more than 100 Hays properties went into foreclosure.

“At this pace, home foreclosure postings in Hays County will probably reach close to 1,500 by the end of the year,” Roddy said, noting that the 1,218 foreclosures listed so far this year represent a 54 percent increase over the 792 filled in the first 10 months of 2008.

The October listings are up 23 percent from September of this year, and the year-to-date total also represents an increase of 71 percent from two years ago.

FLS statistics are for total foreclosure postings, “which include postings of all property types, including single-family homes, condominiums, townhomes, duplexes, mobile homes, apartment communities, office buildings, retail centers, industrial buildings, vacant land (both residential lots and all other vacant land) and other miscellaneous buildings,” the service says.

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