Distressed real estate properties in 2011

Since I work with many distressed properties, I thought I would see what percent of our real estate market is distressed sales in Austin.  Understand that this information comes from my MLS, Austin Board of Realtors, and my MLS contains properties in Williamson County, Hayes, Travis, Bastrop and Caldwell.
In 2011, 21,293 single family properties were sold.  Out of these SOLD, here is the breakdown:

3,201 properites were REO's
810 were short sales
4,011 total distressed properties or 18% of our sales last year.  That is a 1% increase compared to 2010.


18% is really not alot compared to other areas in Texas or parts of the country. At a short sale seminar I attended last Spring in Houston, their distressed property is 24% of their sales.

The following areas show the # of distressed sales in that city last year:

Austin	1245
Round Rock	417
Pflugerville	283
Hutto	223
Leander	222
Kyle	211
Manor	174
Cedar Park	169
Georgetown	118
Del Valle	102
Elgin	85
Buda	75
Bastrop	73
Taylor	52
Cedar Creek	44
San Marcos	36
Lockhart	34
Lago Vista	31
Spicewood	29
Lakeway	27
Liberty Hill	26
Smithville	24
Jonestown	23
Dripping Springs	22
Jarrell	22
Dale	20
Bertram	16
New Braunfels	15
Marble Falls	13
Burnet	11
Florence	11
Johnson City	11
Wimberley	11
Canyon Lake	9
Rockdale	7
Driftwood	6
Kingsland	6
Lexington	6
Manchaca	6
Other	6
Thrall	6
Granite Shoals	5
Point Venture	5
Paige	4
the Hills	4

Even areas like the Hills, Driftwood, Wimberly and Westlake DO have distressed properties.  No area is protected from short sale or foreclosure.  If you are buying a property, it is important to know how many distressed properties are there in the neighborhood whether you are buying one or not.  If you are selling, you also need to know how many distressed properties are in your neighborhood because this may affect the pricing of your home.

If you are a distressed seller, I specialize in short sale and I may be able to help you.  Whether you are buying or selling, you need to know someone who can education you how distressed properties affect you.  Please call me today at (512)786-7355 for a FREE two hour real estate consultation.

Ridge at Alta Vista sales in 2011

Ridge at Alta Vista is a gated community in Lakeway. There are 2 sections, Ridge at Alta Vista homes and Enclave at Alta Vista Condominiums.  From time to time, I blog about this neighborhood because of the number of homes I sell here.

Here are the sales statistics for 2011. I have separated the Ridge at Alta Vista homes to RESERVES and ESTATES, the 2 types of homes in the community.

If you are thinking of buying or selling a home or condo in this neighborhood, please contact me for a more accurate market analysis so that a comparable home will be used in obtaining a value for a property you had in mind.

YTD Numbers for 2011		Units	Avg	Avg	Avg Price	Avg Days
			Price	Sq Ft	/Sq Ft	on Mkt
Ridge at Alta Vista (Reserves)
Active		4	468,731	3,791	123.92	93
Sold in 2011		7	451,713	3,776	114.59	87
Ridge at Alta Vista (Estates)
Active		0
Sold in 2011		1	550,000.00	4,776	115.16	123
Enclave Condos
Active		2	$338,500	2,218	148.88	53
Sold in 2011		6	$257,317	2,523	101.61	67

December 2011 Real Estate Statistics

What did 2011 look like?  We closed the year strong!  In December 2011, residential units of sold properties in the entire Austin MLS were up 10% compared to last December?  For Lake Travis properties (properties in Lake Travis ISD), sold properties were up 6% compared to last December.
The year also started out strong as in January, we are writing contracts! I already had 3 pending just on the first 2 days of the year on my listings. I hope this is a good sign for Austin's real estate housing market and national economy.  How does this compare to your area?
Double click on the attached photo to enlarge.