Austin Foreclosure Rate Continues To Drop

Austin Foreclosure Rate Dropping

Austin Foreclosure Rate Dropping As a Whole, But Are You Facing Foreclosure?

Further proof that the Austin, Texas economy is in better shape than the rest of the country’s can be found in the fact that, according to the Austin Business Journal, the Austin foreclosure rate continues to drop.  Here’s a brief snippet of the report:

Among outstanding mortgages 1.03 percent of them were in some stage of foreclosure, a decrease of 0.04 percent from March 2011. The mortgage delinquency rate — those loans which are in default by 90 days or more — also dropped from 3.28 percent in March 2011 to 3.22 percent during the same month this year.

The Austin percentages are considerably lower from the national numbers. In March the percentage of outstanding loans in foreclosure was 3.41 percent nationally, and the percentage of delinquent loans was 7.18 percent.

Texas collectively also did better than the national numbers. The percentage of outstanding loans in foreclosure was 1.43 percent in Texas, and the percentage of delinquent loans was 4.72 percent.

Austin Foreclosure Rate Continues To Drop | But Not For Everyone

Although the economy in Austin is better as a whole, it doesn’t mean that there aren’t some homeowners who are struggling selling a house.  Many distressed sellers want to sell but cannot due to little, no, or even negative equity in their homes.  Throw in the typical closing costs, and some sellers see a greater advantage to simply letting the home go to auction rather than coming out of pocket to sell.

If you’re in Austin, Texas and you want to sell your home quickly, you may still be able to do so without having to come out of pocket – even if you owe more than the house is worth!

At Hippie Hollow Homes, we buy houses in as is condition all the time. While traditional Realtors only use 1 method to sell a house, we use over a dozen proven strategies that benefit the seller.

If you have any questions, give us a call.  We’re here to help!

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