Nearly 26% Homes Sales were Foreclosures 2010

A report released by RealtyTrac in February 2011 stated that foreclosure homes accounted for nearly 26% of all U.S. residential sales during 2010.

The report also revealed that the average sales price of a foreclosure was more than 28% below the average sales price of properties not in foreclosure.

Based on current statistics, foreclosures continue to represent around 25% of all U.S. residential sales and continue to sell significantly below the average sales price of properties not in foreclosure.

Based on these results, though home inventory especially forclosures continue to disappear, home values should not see much of an appreciation for quite some time given the distressed priced foreclosured home sales.

The best part is that the Austin, Cedar Park, Leander, Pflugerville and Round Rock, Texas real estate market is one of the most stable and should be one of the first areas to see the most improvement the soonest.

For more information about this Blog or selling your home, call Mike Cusimano with Premiere Team Real Estate at 512-795-9918. For more information about buying or leasing, call 512-794-9914.

A Holiday Cheer

It is normal for real estate sales to slow down over the Holiday Season. However, the real estate market in Austin, Cedar Park, Leander, Pflugerville & Round Rock, Texas should be far from normal this Holiday Season. With interest rates as low as 5% and Uncle Sam extending their "$8,000 first time home buyer gift", I am predicting a stronger year end than last year.

The real estate market has already seen a steady increase in sales for the past 5 months per the Austin Board of Realtors and a decrease in available home inventory. All of of which are signs of a new supply and demand curve. If this is true, home owners should start seeing their neighbors homes sell faster and best of all for more money. Find a home, get recent home sales & current market trends at Premiere Team Real Estate