For the first time in 11 years, Residential Foreclosure Posting Activity for the year-to-date has Declined in the DFW Metroplex

For the first time in 11 years, Residential Foreclosure Posting Activity for the year-to-date has Declined in the D/FW Metro.

However, the percentage of Upside-Down postings in April increased 29%.

Addison, Texas - The filing deadline has passed for foreclosure postings to be filed at county courthouses throughout the State of Texas for the upcoming foreclosure auctions to be held on Tuesday, April 5^th, 2011. Therefore, Foreclosure Listing Service, Inc. has completed our research of the April foreclosure postings.

In a meeting today, George Roddy, Sr., President of Foreclosure Listing Service, Inc., announced “For the first time in eleven years, residential foreclosure posting activity for the year-to-date has declined in the Dallas/Fort Worth Metro.”

Mr. Roddy continued, “Year-to-date foreclosure postings filed on D/FW homes has slipped downward -4% over the past year.”

“Last year, foreclosure notices for the first four auctions of the year reached a new record high with 22,305 postings. Over the past year, posting activity for this four-month period declined to 21,387 for the first four foreclosure auctions of this year, which includes January through the upcoming auctions in April,” the foreclosure researcher stated.

Mr. Roddy commented, “The last time I saw a decrease in year-to-date postings for this four-month period was in 2000, when just 4,710 postings were filed compared to 5,064 for the same period one year earlier.”

The foreclosure analyst, who’s firm has been tracking foreclosure activity for more than four decades, remarked, “This is certainly welcome news. But, quite frankly, I believe that we are not out of the woods yet and will not be for some time to come. It remains a sad time for those families losing their homes to foreclosure; but, a great time of opportunity for investors and others buying homes in today’s market.”

Mr. Roddy elaborated, “The fallout from this foreclosure crisis is going to take a long time to work through. Until a significant amount of workers begin to be re-employed, there is simply no reason for foreclosure postings to decline. Even re-employment in today’s market does not assure that a family’s bills will be paid because many workers are being hired at wages far lower than at their previous job.”

“Yes, year-to-date posting levels have dropped and I am happy to report this, because for this same time period last year, a new record high was reached for this four-month period. I am sure all of us are glad posting activity for this period did not climb even higher this year!”

APRIL HOME POSTINGS

“In the Dallas/Fort Worth Metro, residential foreclosure postings for April have fallen -16% over the past year,” Mr. Roddy announced.

“For the upcoming foreclosure auctions in April, 5,193 postings were filed threatening D/FW homes with foreclosure compared to the record high set one year ago of 6,168 notices,” he said.

The foreclosure expert remarked, “While I am relieved that monthly postings did not reach above last year’s record high, even a -16% fall in posting activity does not feel so remarkable when you are comparing it an all time record high.”

Mr. Roddy continued, “Monthly residential foreclosure posting activity has been on the high end of the cycle for quite some time. In 19 of the last 25 months, monthly postings have exceeded 5,000 and have toppled 6,000 three times.”