Bell County foreclosures decreased for the second month in a row, according to the foreclosure list released by the county court earlier this month. The September foreclosure list posted 172 foreclosures, down from 195 in August.
This is the first time Bell County listed fewer than 180 foreclosures since April.
“Two months is an indicator, but not an absolute trend,” said George Roddy Jr., owner of Foreclosure Listing Service Inc. in Addison. “But to me, it seems the market is leaning in a positive direction. If it continues in this direction for six months, then we have a definite trend.”
Although there were around 600 homes listed as foreclosures in Bell County between April and June, numbers supplied by RealtyTrac.com show there were only 138 actual sales of foreclosed homes in the Killeen-Temple-Fort Hood area during that period.
“There are 172 properties listed on the list released (on Sept. 6) by Bell County, but only 68 made it to the auction,” said FLS Marketing Director Rebecca Roddy. “That is fairly common.”
Killeen real estate broker Jim Wright specializes in distressed properties. He said there are several reasons the list often differs greatly from the number of homes actually sold through foreclosure auctions.
“There are a lot of reasons a property can be listed without being sold,” said Wright.
“It could be because the homeowner declared bankruptcy. Generally speaking, if a soldier is overseas, the lender will have a hard time collecting. It can get very complicated.”
Wright has not noticed any definite trends in local foreclosure market.
“There is not really any real trend,” he said. “Generally speaking, (foreclosures) are not increasing each month.”
But the numbers are still significantly higher than they were only eight years ago.
“When we started following Bell County eight years ago, they were averaging about 100 a month,” said George Roddy Jr. “Hard times hit pretty hard all over Texas, but I think that has peaked. We’re starting to see a decline in the number of foreclosures hitting the courthouse steps.”