While would-be homeowners in Texas are still finding good deals in theforeclosure market, the inventory they can choose from is now dwindling.

According to RealtyTrac, the first quarter of 2011 saw 12 percent of all home sales coming from foreclosures. This amounts to 6,962 homes in Texas that were in a state of foreclosure when sold. Although high, this figure represents a 9 percent decline from the same period a year before.

Those looking for a good deal on the foreclosure market will be happy to learn that the average selling price is now $144, 505. This is a whopping 25 percent below the average going price for homes in the non-foreclosure market.

Are you in danger of foreclosure? If so, there is no time to waste in contacting a Houston bankruptcy attorney now. Discuss your financial affairs and save your home, your car and other valuables by filing for bankruptcy this year.