Recent reports show that there are approximately 900,000 homeowners nationwide who are in default and need to sell their homes quickly. Last year, of the 2.2 million homes that entered foreclosure, approximately 1.3 million were auctioned off. This has been one of the primary factors in the tremendous drop in home prices nationwide. As a result, home prices have plummeted, with some cities experiencing loss percentages in the double digits.

Unfortunately Grapevine real estate has not come through the mortgage mess entirely unscathed. The numbers show that in 2007, Grapevine experienced a 79% jump in foreclosures over the number of defaults in 2006. Owners of Grapevine real estate will be looking for some speedy relief, or they will end up needing to sell.

North Texas Property Holding Strong Overall

The good news for Grapevine TX real estate owners is that on the whole, north Texas property is holding its value, despite the tremendous declines seen elsewhere. Grapevine