www.lindbladeappraisals.com/readstory.asp?id=42741 -
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Published on: 2/1/2004
Last Visited: 9/7/2004
Kathryn Nelson, a realty agent with Heritage Texas Properties, believes some of the uptick she's seen in foreclosures is residual from the events of Sept. 11 and the resulting economic downturn.Businesses weren't doing well, and people lost their jobs.And, she said, many more people put their homes on the market, making it difficult for people to even recoup what they originally paid for their houses.
"It's not uncommon for people who bought in 2000 to see them really happy if they can get what they paid for it," said Nelson, who works in the Woodlands, a community north of Houston.
Some houses are even selling for 20 percent less than what they sold for in 2000, she said.
Lamb believes the economy as a whole is playing a large part in the rising foreclosures she's seeing.