By Krista NightengaleAssistant Managing Editor
People Newspapers - Full Story 2/20/09
Christina BaranyRavi and Uma Kalielindi walk arm in arm during a foreclosure bus tour led by Debbie Sutton and Gary Bilpuch.About a month ago, Debbie Sutton and Gary Bilpuch, agents with David Griffin and Co. Realtors, did something they’d never thought they do. They took a group of 30 people on a home tour in the Park Cities. But it wasn’t just any, old home tour — it was a look at 10 foreclosed homes.
Although the Park Cities and Preston Hollow have held off the devastating toll of the economy on the housing industry for quite some time, it looks like these two areas are finally being touched.
“It’s affecting the area,” said Terry Smith, Realtor with Jerold and Terry Smith Realty and owner of dallashomescenter.com. “It’s happening.”
According to a report released by Addison-based Foreclosing Listing Service, the first quarter in Dallas isn’t looking so good.
“Setting a new all-time quarterly record high, 13,259 postings were filed on homes located in the Dallas/Fort Worth Metro during the first quarter of this year,” said FLS president George Roddy Sr.
And it doesn’t look good for the Park Cities and Preston Hollow, either.
According to FLS, in the first quarter, the percentage of foreclosures in all our ZIP codes except 75225 have increased. And when comparing 2008’s foreclosure totals to 2007, one can see an increase in all areas, except 75220.
Where are the foreclosures coming from?It’s obvious foreclosures, even in the bubble, have increased.
But why? Ben Coats, a Realtor with Allie Beth Allman, started his career with a very specific group of people: homebuilders in the Park Cities and Preston Hollow.
Looking for Preston Hollow Homes? Contact Bernice Edelman today! http://www.berniceedelman.com/
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