Find Foreclosures in the DFW Area

Call us for complete information on foreclosed homes

Foreclosures have been in the news lately, and the Dallas/Fort Worth area has not been immune to the wave of foreclosures sweeping the nation. In recent months, however, the foreclosure rate in the eight-county Dallas area has actually declined, counter to the national trend. Housing in Dallas has not seen the huge increase in prices that states like Florida and California have witnessed. Thus, we predict that the DFW real estate market will remain quite stable and will weather the storm well.

Many of our clients ask about foreclosures, perhaps thinking that a foreclosure will provide them with a bargain price. This may or may not be true. Every house is unique, as are your financial situation and your personal goals. The process of buying a foreclosed home can be more complicated than the traditional home buying process, so it is good to have the assistance of an experienced Realtor.

A Realtor is often working with or aware of sellers who are not yet in foreclosure or behind on house payments, but who are eager to sell their homes for a variety of reasons. They may be preparing to move because of a cross-country job transfer. A homeowner may have lost a job, and needs to move to an apartment to lower living costs. Many older couples are moving to smaller homes, to senior living complexes, or nursing homes. Remember that a homeowner with more equity may be willing to compromise more, thus providing you with an excellent value.

There are several different categories of foreclosures, such as pre-foreclosures, bank-owned properties, Housing and Urban Development, or HUD homes. HUD homes are sold “as is,” which means you will be responsible for repairs, and as the owner, you must live in the home yourself. On any foreclosure, if the owner has walked away from the mortgage, information regarding the home may be sketchy. You may or may not have access to an accurate seller’s disclosure telling you about the home’s condition and history.

At Winans GMAC, we have several Realtors who are certified to work with HUD homes and who are familiar with the process of purchasing one. Let your Winans GMAC Realtor know your home search parameters, and you will find a valued and trusted professional to assist you. Our desire is to help you achieve your goals in the best way and with the least stress possible.

All of our Realtors are aware of excellent real estate buys throughout the Dallas/Fort Worth area. In this section, you will find examples of homes in foreclosure that may meet your needs. When you find one that interests you, please call or email us for assistance.