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Some high-end homes are listed at foreclosed home listings and are offered at prices way below their original market value. This has resulted in fewer expensive home sales, even in California. However, recent data showed that the state sold higher number of multimillion dwellings last year compared with previous periods.

Sacramento foreclosed homes listing and distressed property listings in most areas of California continue to account for a large percentage of the state's home sales, resulting in lower dollar sales equivalent. However, some markets like Orange County posted higher luxury home sales last year despite tough competition from low-priced dwellings. The county reported a 25.7% sales increase of million-dollar houses in 2010, although overall housing unit sales in the region declined from 2009 levels.

The percentage of home sales accounted for by California foreclosed homes listing properties has been increasing in the past few years. However, Orange County did well last year by selling over 3,000 houses that are worth at least $1 million. The figure was the highest total recorded for the segment in the past three years and also the first time in a five-year period that houses within this price range recorded a sales increase.

For the whole state, properties under foreclosed home listings still accounted for a huge percentage of total residential property sales, but more expensive homes seemed to be making a comeback. Statewide statistics showed that 22,529 dwellings priced at least at $1 million got sold in 2010 in California, with some selling for as high as $50 million.

The figure for luxury home sales in 2010 represented a 21% increase from the previous period and was the highest recorded in the state since 2008. The peak of million-dollar home sales in California was in 2005, when over 54,700 of such units were sold. Although low-priced properties like those in fixer upper listings still sold at high numbers last year, the luxury home market did gain some ground over such properties.

Analysts stated that the rise in sales of multimillion dollar houses does not mean that homebuyers will be turning their backs on foreclosed home listings. They stated that foreclosures will continue to account for a big part of total housing unit sales in the region in the next few years.

The number of properties under foreclosures lists and foreclosure-related filings increased in Texas last month, with the region posting a jump of over 20% during January 2011 when compared with January 2010 figures. January figures were also higher when compared with the previous month.

Houston foreclosure listings and the rest of Harris County accounted for the biggest percentage of the foreclosure total recorded statewide last month. The county posted a total of 3,875 filings in January, with most of the rest of Texas also recording higher foreclosure totals. For the whole state, 14,897 foreclosure-related filings were reported last month, representing a 22% surge when compared with January 2010.

The monthly figure included notices of default, foreclosure auctions, repossessed properties and properties under Texas foreclosures listings. When compared with December 2010, the January total represented a jump of 33.46%. This means that one household out of every 653 units in Texas was in some stage of foreclosure during the month of January. Houses that were sold last month had an average price of a little over $189,500.

Texas was not the only U.S. area that posted increases in filings and foreclosures lists. The whole country posted a jump of 17% in terms of foreclosure-related filings last month compared with January 2010. However, housing market analysts noted that January marked the third month in a row that the country has recorded filings below the 300,000 mark. The three months of successive fewer filings came at the heel of a 20-month non-stop total of over 300,000 filings.

However, housing experts stated that this does not signify that the residential property market is getting better. They claimed that the market still favors those who buy repossessed houses for sale over home sellers. They further stated that the decline only shows that lenders are getting overwhelmed with the massive amount of foreclosures flooding their books and are taking longer in processing these distressed properties.

Majority of industry experts are expecting filings and foreclosures lists numbers to continue to rise this year. They stated that more foreclosures will enter the market as lenders restart cases that were stalled in the fourth quarter due to the nationwide moratorium.

Last week, two events which centered on providing mortgage assistance to troubled borrowers were offered in Phoenix. The said events come at the right time considering the growing demand for foreclosure listings service. Unfortunately, the turnout was lower than expected.

There are two possible reasons for such lukewarm reception. It could be due to the chilly winter weather experienced in the past couple of days. Or, it could be the fact homeowners are giving up hope and no longer interested in preventing their homes to be among those featured in Phoenix foreclosure listings. The latter reason is understandable since many homeowners who tried to solve their mortgage problems received a chilly reception from their lender.

The events were actually sponsored by two mortgage giants, JP Morgan Chase and Bank of America. These lenders have always been vocal about their desire to help distressed borrowers avoid getting their homes included in Arizona foreclosure lists or in any foreclosure listings service for that matter.

The Chase-sponsored event focused on providing helpful information to homeowners who are currently underwater and are considering short sale as a way out of their mortgage trouble. The activity was held at the Wyndham Phoenix Hotel.

Meanwhile, just a couple of blocks away is the mortgage assistance event organized by the National Assistance Corporation of America, wherein Bank of America is one of the major sponsors. This particular event tackled security among other things. It was held at the Phoenix Convention Center.

Whatever the reason for the low turnout of attendees, the fact remains there are literally millions of repo homes for sale in foreclosure listings service across the nation. But it is indeed alarming if the main reason for the low turnout is because most of these distressed borrowers are no longer thinking about finding a way to stop foreclosure and are just simply waiting for the time to walk away. Obviously, this will spell trouble for the entire housing industry.

Sales of non-foreclosed single family dwellings and residential properties under foreclosure listings for sale surged in Miami, Florida, last year. However, selling prices dropped for both the full 2010 period and for the month of December.