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“Central Texas is not in the same boat as many other parts of the country. While home sales remain at a slow pace, prices have not dropped, and many economists say an upturn is in the making for 2012 as the region continues to add jobs.” The prevalence of distressed home sales (short sales and foreclosures) in other markets has had much to do with their declining home values and continuing market malaise. Continue reading
What would you do if one day your life is interrupted by a notification that the bank you bought your home from may not have had the right to sell it to you because they never actually owned it themselves? The odds may be low, but it’s worth thinking about.
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What is largely missing from the discussion is that the properties and property owners involved are on lenders’ foreclosure lists for a reason — mortgage default. Every real estate closing that involves mortgage financing includes paperwork that basically says “no pay, no stay.” Continue reading
This website does a good job of outlining the steps in a Texas foreclosure, and in providing good general information about some alternatives. Continue reading
There is always a reason when a property is priced below market …. Continue reading
In my opinion, continued artificial support will only make the correction worse when it does happen, so we should allow the market to seek its own course, with minimal external manipulation. Continue reading
Even though Austin is in far better shape that many other places, these Fannie Mae and Freddie Mac will continue to struggle for a long time to come. Continue reading
We continue to add employers and employees, and to see investments in the future of our community. Our growth is undoubtedly constrained by the difficulty selling homes in other parts of the country, keeping people and companies from moving here that might otherwise choose to do so. Nonetheless, “cautious optimism” remains a good bet in the Austin area. Continue reading
MLS data shows a total of 1,870 foreclosures sold and closed through November — less than 1/3 the “corrected” number of postings reported today. With only 300 on the market today, where are the other 4,000? Continue reading
More of the same about Austin foreclosures …. Continue reading
Bill Morris on Austin Real Estate 