Austin Foreclosure PropertyThere is an increasing number of Austin foreclosure postings in 2009. The data in October 2008 showed that foreclosures were only up around 15%, as I wrote in Foreclosure in Austin: Crunching the Credit Numbers. After that the numbers kept on growing.

There were 45% more foreclosures by the end of 2008 than in the previous year.

I took my data from foreclosures listed in Travis County, Texas, and from foreclosure listing data in the RexReport.

It’s important to note that this is based only on mortgage foreclosures, as opposed to Austin tax foreclosures which I discussed last week.

Travis County Foreclosure DataJanuary’s number of postings was higher than at any time this milennium (for those inclined to be dramatic!). Quite considerably higher.

Some of these make it to the MLS market, while others will be saved from foreclosure.

In December, there were 95 foreclosed homes available for sale in the City of Austin, via the MLS. As of today, there are 150.

I helped a first time buyer close on a foreclosed home today. The process was long and not as straightforward as a regular home purchase. We made it though, and for around 83% of market value.

There is discount real estate available in Austin. I’m somewhat tired of seeing websites selling lists of “foreclosure listings” to unsuspecting buyers. For most people the practical option for buying vacant foreclosed property is to use a Realtor® to help you locate, negotiate and close on one. Many Realtors® can give you lists of foreclosed homes without any bogus charges.
Garreth Wilcock is an Austin Realtor® who helps people buy foreclosed homes. Contact him if you would like FREE lists of foreclosed properties in Austin emailed to you. Search Austin properties at his website.