While Texas as a whole is fairing about in the low middle of the pack in the current foreclosure crisis, the city of Fort Worth is topping the chart in the state with the highest foreclosure levels in the great state of Texas. While the numbers there appear to be slowing somewhat as of the latest polls it still has a long way to go in order to be considered to be under control or even at an acceptable level for most folks.
There is no doubt that repo homes in Texas is fairing well in comparison to the rest of the country and even repo homes in Fort Worth is doing better than its counterparts in other states although at some points it is nearing the record levels of some of the cities that are topping the foreclosure list in numbers.
There is no doubt in most people’s minds that the worst is close to being over in Texas and in particular the Fort Worth area. The biggest thought and / or concern is in how long it will be before the numbers actually normalize and get back to a point where homes are once again worth the actual value that people are showing on the mortgages that they are paying.
As long as the trend continues to shrink and the job loss market doesn’t begin increasing the situation, at least in Fort Worth should see a slow and constant turn around in numbers and while the end result is not going to happen in months but rather in years, it is likely that Texas will be one of the early states to recover fully from the crisis and Fort Worth will lag decidedly behind the rest of the state but it will make it as long as the current trends continue.
There is no doubt that the plans set in motion by the Obama administration have had a positive impact on the mortgage industry and the real estate market here in the city of Fort Worth and the state of Texas and the indicators are that that should continue and the turning point should be reached by years end.
