We are looking for a forclosure listing of homes within the inner loop (particularly West University). Does anyone know how to obtain this information? Thanks.

generally, there's not going to be a lot of foreclosures in west university. the only one i could find listed is on 4235 Villanova.

Go down to the courthouse. That is where they are listed.

There is a company called "Foreclosure Listing Service" that compiles all the listings in Harris County. You can buy their list each month.

There is a company called "Foreclosure Listing Service" that compiles all the listings in Harris County. You can buy their list each month.

Diggity - the listing at 4235 Villanova states that it's new construction? Can you tell me if I'm looking at the right place? Thanks.

http://search.har.com/engine/dispSearch.cfm?mlnum=8156043&class=1&leadid=6&sTYPE=0&backButton=Y

i didn't take a close look. it's listed as a foreclosure but it could be a typo by the agent. martha turner doesn't do a lot of foreclosures so it's probably not one. certainly not priced very low.

I wouldn't be surprised to see more and more foreclosures in these neighborhoods. Having been in residential mortgage for 28 years I never cease to be amazed at how creative some buyers can imagine their finances.

there's 75 foreclosures listed in area 16 and 17 of those are units at the lovely treemont tower. that place is screwed.

Interesting...

I'd appreciate it if you let me know if you see anything good around the Rice University / West U area. Thanks!

Treemont Tower...what a nightmare! What's going to happen to that place???

hopefully they'll just bulldoze it...it's an eyesore.

I handle the mortgage side for our bank at both the West U and Tanglewood branches and I don't see any better credit profiles in those areas than I do in the lower income areas which I also handle. I think the market will be hit with foreclosures regardless of location.

Tax foreclosure listings are linked to from here (under the Helpful Information section at the bottom):

http://www.tax.co.harris.tx.us/taxsaleprocedures/default.asp

It should be noted that tax foreclosures are, for the most part, shit.

[This message has been edited by George Muresans Artichoke (edited 8/27/2007 11:54a).]

Diggity (or anyone else that might know)-

Just a week or two ago, HAR had a section under their 'select a property type' area (e.g. single family, townhouse/condo, etc) and there was a way to get foreclosures filtered out. It even had a 'new' tag next to it but now it's gone. They probably weren't the most current foreclosures but I was able to do a quick search and found quite a few deals still available.

Do you know what happened?

From what I've been reading in regards to the housing marketing it looks like things are going to get really rough in the next three months.

Interesting take about the Credit Profiles within West U Area. Thanks for the heads up.

we shall see.

i understand they were lending to people that weren't exactly "good credit risks" but i would still venture to guess there aren't going to be a lot of foreclosures in West U. The appreciation that area has experienced should be reason enough to avoid foreclosure.

Inventory is too tight inside the loop for foreclosures to be a good deal.

We bid on a foreclosure in the heights earlier this summer. It sold for 20k over the listing price and close to market value.

ruSAL,

i don't use the consumer front end for har.com so i'm not very up to date on what features they've added. i'm not sure why they would add it then take it away though.

diggity the fact that a property may appreciate doesn't mean the occupant can make the payments. I would venture to say that more than 50% of the subprimes loans made are at or above the jumbo threshold.

you may be right, but out of the 100+ foreclosures listed ITL right now, there are zero listed in west u.

the fact of the matter is that homes in the 500K+ range don't tend to foreclose as much.

quote:

---

I would venture to say that more than 50% of the subprimes loans made are at or above the jumbo threshold.

---

and this statement is just flat out incorrect (if you're referencing the houston market)

[This message has been edited by Diggity (edited 8/27/2007 4:48p).]

Yeah but if the property was so hot in West U why don't they just sell it before the bank takes it.

exactly

quote:

---

Just a week or two ago, HAR had a section under their 'select a property type' area (e.g. single family, townhouse/condo, etc) and there was a way to get foreclosures filtered out. It even had a 'new' tag next to it but now it's gone.

---

I was wondering about this, too.

Well generalizing from n=1, something crazy or extreme is going on. For the home in the Heights, the guy had been back to his place for about a year. I think he left the country. I imagine it is those types of circumstances that result in foreclosures in high demand areas.

diggity I wasn't addressing West U specifically just basing my opinion on the number of subprime borrowers at different price points on 28 years of experience. If someone who happens to get into trouble on their payments lives in a rapidly appreciating area of course they may be able to salvage their equity. I think you might be surprised though if you looked at the credit profiles of many, not all of course, but many of the buyers trying to buy in the upper end.

I lived at 3808 Villanova in the 60's which my Mother bought for $11,000. I haven't lived there since 1969. We were in Houston last month and went by the old house. It has been torn down and replaced with a new, 2 story house, shoehorned on that tiny lot. I saw how much they wanted for the house on the other block of Villanova on this thread and just about had a heart attack! My Mother (God rest her soul) would have been shocked beyond words. She sold that house in 1972 for $20,000.

I agree with the other poster about the time to sell - some of these areas the houses are on the market for 14-28 days tops. If someone knows they're a month from losing it, they'll probably try and sell it to at least break even if not make some $$.

We bought in Southhampton in December. House on the market for 14 days. Two other houses on our street sold in under 20 days since then.

Not saying there won't be some opportunities, but I'm guessing the owners would have to be dumb to not try and sell it quickly to avoid the foreclosure.

Lifelong,

Interesting. The first house I owned was in the 3800 block of Villanova. I bought it for $175k, sold it 7 years later for $240k. The people who bought it from me, sold it this past year for over $450k. It's now been torn down by a builder.

MAROON

Maroon, my mother bought that house with proceeds from my father's life insurance. When he died, she decided to move back to Houston, from Dallas, to be near her brothers and their families. I moved with her as I was in college at the time and stayed there until Mr. LLA and I got married and moved to Tyler. She stayed a couple of more years and sold it to move to Dallas to be near me and my family (we had just had our first daughter so she wanted to be nearby to watch her grow). That house was a 2 bedroom, 1 bath house that she completely remodeled. It was actually quite comfortable for the 2 of us.

There is a 3,400+ sq ft house in Copper Lakes (Copperfield area) that is a "pre-forclosure". Its listed at $200,000 - That's like $58 a sq foot!

My sister's realtor showed it to us this weekend. Told us the initial asking price was $300,000.

Sorta makes me wish I'd waited to buy....the laundry room is bigger than some of the apartments we lived in while in college.

what's the address elsie?

Still kinda high....too rich for my blood.

[This message has been edited by AggieEyes (edited 8/29/2007 11:42p).]

Here is the link to the HAR.com site
http://search.har.com/engine/dispSearch.cfm?mlnum=5071470&class=1&leadid=6&sTYPE=0&backButton=Y



It needed some cleaning and some cosmetic work inside, but nothing the average person couldn't do.