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Texas Foreclosures Down


Posted earlier today on www.AustinMarketInfo.com

“California, Florida, Illinois and Michigan accounted for 52 percent of the nation’s total foreclosure activity during the month.”  More:  http://austin.bizjournals.com/austin/stories/2009/11/09/daily25.html

Almost everywhere, including Austin/Central Texas, foreclosure postings are up compared to same time last year, but month-to-month numbers are heading the right direction.  Mortgage loan restructuring is still moving much slower than the bailout process anticipated, but many lenders are more reluctant to foreclose.  Even if it means a little more patience with slow-pay borrowers, delaying foreclosure avoids substantial legal costs, slow moving listings and accompanying carrying costs, etc.

If you’re in trouble with your mortage obligations, don’t just wait for the “final notice.”  Talk to your lender, explain your genuine hardship, try to work it out.  You just might be surprised, especially if you’re in one of the most distressed markets.  Austin is not on that list, but it’s always better to try than to just hunker down and let foreclosure happen.

 

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About Bill Morris, Realtor

More than thirty years of business experience (high tech, client service, business organization and start-up, including many years in real estate) tell me that service is the key to success and I look forward to serving you. I represent both buyers and sellers throughout the Austin metropolitan area, which means first-hand market knowledge is brought to bear on serving your needs: -- Seller Representation is a comprehensive process that begins with thorough market analysis and consultation, continues with properly staging the home to achieve the highest price possible in a reasonable time on market, a complete program of marketing and promotion, ongoing updates and communication, closing coordination, and follow-up throughout (and after) the sale. -- Buyer Representation is also full service: shopping, previewing, price and market consultation, contracting, negotiating, coordination of inspections, appraisals, repairs, and closing details, and follow-up beyond the closing of your purchase to ensure your lasting satisfaction. Because the real estate industry is becoming more sophisticated and challenging every day, you need a professional that understands the industry and is positioned to stay ahead of the game. I go the extra mile to help you achieve your goals. That's why I constantly research the market and property values so your home is priced effectively from day one. I also make sure the public knows your home is for sale by using innovative advertising and marketing techniques to attract potential buyers.

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