Residential foreclosure postings reach new level
It’s official – 2009 set a new record high for residential foreclosure filings in the four-county North Texas region, according to a recent report.
Postings for the Dec. 1 auction (the deadline for the auction already has passed) pushed this year’s foreclosure filings to 61,676, a 23 percent jump from 50,324 in 2008, reported George Roddy Sr., president of Addison-based Foreclosure Listing Service.
For the year, Tarrant County residential foreclosure postings topped 20,000 for the first time this year with the December statistics. While Tarrant County faired better than others, the area still recorded 20,170 filings, up 27 percent over 2008.
Roddy said the count is the “highest I have seen since we began tracking foreclosure posting activity in this county,” in reference to the Tarrant County numbers.
From January through the upcoming foreclosure auctions in December, 61,676 homes were posted for foreclosure in North Texas – a 23 percent gain compared to last year’s 50,324 residential postings, which was the previous annual record high.
Tarrant County monthly filings peaked in July with 2,015 filings for the month, up 66 percent from a year earlier and up 23 percent from the previous month.
Even so, December’s filings are up 32 percent from a year earlier.
Roddy said an important piece to the foreclosure posting data is that not all of the postings are new. The figures include ‘repostings,’ or foreclosure postings that were not completed at the scheduled auction and were refiled for the next auction, or cases in which the lender and homeowner worked out a temporary agreement and the property was removed from auction, but later reposted.
In Tarrant County for December, 899 filings are repostings, meaning that 847 are new cases. So, Roddy said, new foreclosure postings only account for a 5 percent increase from the number of new postings for December 2008.
Of the 5,253 filings in the metro area, 2,583 are repostings, or 49 percent. The number of new postings is a 6 percent increase from December a year ago, figures show.
BJ’s opens storefront in Hurst
California-based BJ’s Restaurants Inc. opened its newest BJ’s Restaurant & Brewhouse in Hurst at the intersection of Interstate Loop 820 and Pipeline Road at the 1.7 million-square-foot North East Mall. The restaurant is about 8,500 square feet and can seat about 280 guests
“We are very excited to open our final restaurant for 2009 in Hurst, which is a mature, densely populated trade area with proven levels of retail sales,” said Jerry Deitchle, chairman and CEO of BJ’s, in a release. “Our Hurst restaurant represents our seventh location in the Dallas-Fort Worth market, where we have enjoyed some of our strongest comparable restaurant sales comparisons during the past few years. Opening day sales were very strong. The Hurst opening represents our tenth and final new restaurant opening for 2009, and successfully completes our previously stated expansion objective for the year.”
Deitchle said the BJ’s chain expects to open as many as 10 to 11 new restaurants next year.
Investor picks up Arlington retail center
A private investor purchased Fielder Terrace Shopping Center, a 32,450-square-foot retail property located in Arlington. The property, located at 1300 W. Arkansas Lane, was 90 percent occupied at the time of the sale.
Timothy A. Speck, first vice presi-dent/regional manager of the Dallas office of Marcus & Millichap Real Estate Investment Services, represented the seller, an unidentified private investor, in the sale.
Arlington Governor’s Row property sold
Hinckley Properties LLC bought a 4,425-square-foot building located at 2005 E. Lamar St. at Governor’s Row in Arlington.
The building is the fifth to be sold at Governor’s Row. Beaux Riley with Arlington-based SCM Real Estate Services led the negotiations.
Fort Worth retail center purchased
A private investor purchased a 32,822-square-foot retail center at 7628 McCart Ave. in Fort Worth from JPMCC 2005-CIBC13 McCart Ave LLC. Jennifer Pierson and Beth Pierson of CB Richard Ellis negotiated the sale on behalf of the seller.
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