At some of downtown Houston’s most desired addresses, high-rise condos sit empty

Parts of suburban Houston and other outlying communities have also witnessed rising foreclosure rates and falling home prices.

For example, a 24,000-square-foot mansion in The Woodlands appraised at more than $7 million recently sold for roughly a third of that price.

For buyers like Dennis Murland, a long-time real estate investor, new foreclosures bring new opportunities.