I read this online article today released by RISMedia, the article was "Are REOS in Vogue again in Austin?" The article (please open the link to read), stated that in August, Nationwide, distressed properties were up .7 percent which prompted me to check Austin's MLS for distressed properties. Here's my findings:
* There are 84 currently Active distressed properties in the Austin area (REO's, preforeclosures and short sales)
* Out of the 84, 30 of these Active properties were listed in the past 30 days, that's 35%!
* 86 distressed properties are Pending
* 387 distressed properties Closed since January 1st, 2015
The last time I looked, months ago, there were only 20+ distressed properties in the entire MLS. This sure is a change.
So, what do you think? Is our market shifting?
