The Carvajal Group Blog

Quarterly Foreclosure Postings Up for Travis County

February 17th, 2011

Quarterly foreclosure posting activity in Austin Metro topped 4,100 for the first time in this foreclosure cycle. The filing deadline has passed for foreclosure postings to be filed at county courthouses throughout the State of Texas for the upcoming foreclosure auctions on Tuesday, March 1st, 2011.  Therefore, Foreclosure Listing Service, Inc. has completed  research of the March foreclosure postings, as well as an initial review of posting activity for the First Quarter of the year.

 The following points offer a few highlights of these statistics.  These quotes should be attributed to George Roddy, Sr., President of Foreclosure Listing Service, Inc.

AUSTIN METRO

“Quarterly foreclosure posting activity has topped 4,100 for the first time in this foreclosure cycle.”

“From January through the upcoming foreclosure auctions on March 1st, 4,186 postings have been filed threatening properties in the Austin Metro with foreclosure.”

 “Over the last year, First Quarter’s foreclosure posting activity has increased 6% with 4,186 postings filed in the Austin Metro during the First Quarter of this year compared to 3,958 postings one year earlier.”

 “On a quarter-to-quarter basis, First Quarter’s posting level was 5% higher than the 3,993 postings filed during the Fourth Quarter of 2010.”

“Foreclosure posting activity has been on the high-end of the scale for some time now. For the last 13 consecutive quarters, foreclosure notices in the Austin Metro exceeded 2,000 postings per quarter; and, for the last 8 quarters, postings topped 3,000 per quarter.  In 3 of those quarters, Austin’s posting activity surged above 4,000 per quarter with a new record high set in the First Quarter of this year with 4,186 postings filed. Postings also topped 4,000 in the Third Quarter of 2010 when 4,018 notices were filed, and, prior to that in the Fourth Quarter of 2009 when 4,040 postings were filed, which was the previous record high.”

“Glancing back four years, foreclosure posting activity in the First Quarter of this year was 130% higher than in the First Quarter of 2007 when just 1,820 postings were filed, which was the lowest First Quarter level since Foreclosure Listing Service, Inc. began tracking foreclosure activity among all four counties in the Austin Metro back in 2003.” (FLS began tracking foreclosure activity in Travis & Williamson Counties in 2001; and, then in 2003, Hays and Bastrop Counties were added to our coverage area to complete coverage of the Austin Metro.)

“Over the last year, First Quarter foreclosure posting activity continued to climb in 3 of the 4 counties within the Austin Metro.  The largest gain was a 7% jump in postings filed in Travis County, followed by a 6% increase in Hays County, and a 4% gain in Williamson County.  Conversely, First Quarter postings in Bastrop County inched down -2% over the past year.”

“New quarterly record highs for this foreclosure cycle were set with First Quarter’s posting activity in the overall Austin Metro, as well as in both Williamson County and Hays County.”

Be advised that foreclosure posting does not mean that the property is in Foreclosure. A posting initiates the process of foreclosure as a notice filed through the bank or lender. Interestingly enough, the Austin median home price has continued to hold given all the foreclosure activity. Let’s attribute this to our relatively healthy job market and the affordability of Austin and surrounding metros.

Tags: Austin Homes for Sale · Austin Real Estate Market · Austin Rental Property