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Wednesday, January 11, 2012

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.

Monday, January 9, 2012

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.