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:
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.