Home auction numbers for August down

Foreclosure listings for August auctions were released Friday, and numbers look much better than the spiked July foreclosure listing numbers.

According to Foreclosure Listing Service, only 139 houses are listed for the foreclosure auction in August compared to 174 in May.

George Roddy, president of the company, said in a news release that the 17 percent decrease for the entire Dallas-Fort Worth area is a good sign but does not establish a trend.

"This foreclosure crisis is not going to get better overnight, and I see it continuing at this pace at least through the end of this year," he said in the statement.

Collin County as a whole posted a 4-percent decrease in foreclosure listings from August 2009 and an 18-percent decrease from last month.

Steve Sims, city of Plano senior planner, said homes being sold at auction - during a short sale before the auction or through a regular home sale - are good for the city, because it prefers that someone maintains the homes.

"We don't like to see homes going into foreclosure," he said. "What we'd really like to see is for the home to be owner-occupied.

"It helps cut down on any code enforcement issues, and also if a home is vacant for a long time like that it just opens it up for a lot of problem issues."

Roddy said in the release that while it is unfortunate some people are forced out of their homes, buyers who are in a position to buy ultimately benefit from the deal.

But because foreclosures are a lagging economic indicator, he said he still is concerned about the foreclosure crisis.

"Even though some economic announcements have been positive, I want to see improvement in the average family's pocketbook, not just on paper," he said. "To be forced to leave your home is one of the most devastating moments in a family's life, especially in the American society where we have so much pride in home ownership."

Sims said Plano keeps an eye on employment, sales tax revenues and companies looking to expand as potential indicators of what the foreclosure market will look like in the future.

Foreclosure rates in Collin County were relatively positive, with Tarrant County posting the same increase in foreclosures at 5 percent year-to-date up to the same time last year and Denton County reporting a 13-percent increase.

In the month of August, Tarrant County showed the greatest reduction in foreclosures from last year with a 7-percent decrease, while Dallas County had a decrease of 1 percent in foreclosures.

Roddy said in the statement that the last four months of comparisons from the previous year have been positive.

"While this is certainly not an indication that the residential foreclosure crunch is over, it is welcomed news that we have seen a decline for four months in a row in same-month to same-month postings," he said. "While at least six months of consistent performance is needed to truly establish a new trend, home posting activity in the Dallas-Fort Worth metro is now more than halfway there."

Houses that go to auction in August were foreclosed on in July.

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