During these rough economic times we have seen high rates of foreclosures, but things have started to change here in the Austin area according to a report recently released by an Irvine, California-based company, RealtyTrac Inc.

The rate of foreclosures in the Austin area dropped 21 percent in the month of July, 2010 compared to the rate of foreclosure in July, 2009. Currently, one in every 730 homes in the Austin area is in danger of foreclosure, which is a change from June 2010 when one in every 655 homes faced foreclosure. The state of Texas as a whole is seeing one home in every 819 facing foreclosure filing compared to the national average which is one in every 397 homes. Real estate experts find that it is more important to look at the month-to-month figures to get a more accurate reflection of market stability.

Foreclosures in the city of Austin are still lower than other metro areas. During the month of July, Austin placed number 126 out of the 203 metro areas that ReatlyTrac monitors. Across the United States Texas continues to do better than other states in avoiding foreclosures when compared to Nevada, Arizona, Florida and California. These other states routinely show top foreclosure rates. The United States saw 325,229 properties report foreclosure filings in the month of July, 2010, which is an overall 4 percent increase over June, but a nearly 10 percent decrease from July 2009.

We are fortunate that the Austin area is experiencing a decrease in foreclosure rates. However, if you need foreclosure or short sale help contact us today online or by phone at (512) 515-LAND (5263). We are here for you to help you buy or sell real estate near Austin in the Liberty Hill area, including Leander, Georgetown, Cedar Park, and Bertram.