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Catherine Van…, Real Estate Pro in 13783

Why are there so many homes for sale and in foreclosure in Cedar Hill?

Asked by Catherine Van Mater, 13783 Fri Mar 27, 2009

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Several years ago the Lake Ridge area was being built up. Several builders got with several appraisers and inflated prices. This cause people to get double mtg's on their homes. Well market crashed, home values tumbled foreclosures rose (along with fires of abandoned homes), the scammers went to jail and what you see now is the aftermath of an area that is trying to recover.
0 votes Thank Flag Link Fri Aug 28, 2009
Hi Catherine,

There are 68 active foreclosures as of today in Cedar Hill ranging from 40K to 650K. Of those only 13 are new construction that were never lived in (custom homes in the high end bracket).

The rest are just like the other town with people having issues etc... There isn't a particular reason.

Naima
214-289-8555
Naima@Sumner-Realty.com
0 votes Thank Flag Link Fri Mar 27, 2009
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