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Harris County Foreclosure Listings

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Foreclosure Listings in Harris

Texas, known for its rich historical roots and southern hospitality, is home to many proud Americans, who just like the rest of the country, have endured some economical hard times in the last 5 years. While a sore subject for some, these unfortunate times have brought about many job losses resulting in home foreclosures that may be an encouraging sign for real estate investors.

Harris County's population is just over 4 million. Considering the size of the county, the foreclosure listings per capita aren't very high. There are currently 6,800 bank foreclosures in Harris County. There are many different types of properties listed, including condos, single family homes, mansions and uninhabited land. With several listings under $10,000,  being able to afford a home or land in this area would be quite feasible for most. There also happens to be a number of bank foreclosures with starting prices in the hundreds to low thousands. Since it appears that property values are not experiencing drastic changes, this could be a good time to invest in rentals in the area.

While the housing market in the country has trended up and down in many areas, the fluctuation in the market has not been as drastic in Harris County. The price per square foot for the last 10 years has bounced anywhere between the high 30's to around $54 per square foot. This is quite reasonable compared to counties of similar size. The median income for families is just over $57,000 a year, making house ownership a reality for many residents. The unemployment rate for the area is 7.1% which is lower than the national average. With a third of the population carrying bachelor's degrees or higher, this county shows diversity in educational and economic status. A considerable percentage of residents work in manufacturing. However, there is a large sector of the population employed in white collar positions.

The most current economic data available for the county shows a 2% revenue increase from the same time last year. While this is a modest increase, it appears that the county's economy is holding steady. While so many areas were hit hard during the recession, Harris County seems to be holding its own.