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Market News and Trends

Foreclosure Market Trends Newsletter


Distressed sales (short sales and foreclosures) are routinely part of residential real estate markets — a large part of some local markets around the U.S. over the past few years.  There has been progress nationally in 2012.

While foreclosure activity remained relatively modest in the Austin and Central Texas compared to many major metropolitan areas, it is becoming an even smaller influence on sales and property values here.  Foreclosed properties accounted for almost 15% of residential sales here in 2011, but less than 10% of all residential sales in the Austin area so far in 2012.  (Compare that to a national average of 24% in October 2012, which was down substantially from 2011.)

Even more encouraging, foreclosures represent just 3.4% of listing inventory now — 208 active REO listings today out of just over 6,000 total listings.  Most lenders are honoring a seasonal foreclosure moratorium, so the number of foreclosures will likely increase somewhat after January 1, but this is not a busy segment of our local market.

Nationally, RealtyTrac reports:  “Foreclosure filings were reported on 186,455 U.S. properties in October, an increase of 3 percent from September but still down 19 percent from October 2011 ….”

Read the rest of that news and more in the complete Market Trends Newsletter.

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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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