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?
Showing posts with label distressed properties in Austin. Show all posts
Showing posts with label distressed properties in Austin. Show all posts
Thursday, September 3, 2015
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:
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.
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.
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