I just wanted to post a few statistics from the Multiple Listing Service (MLS) relating to the foreclosure post from last week.  While most people are not in jeopardy of foreclosure, the property values of all homes are adversely affected by them.

As of today, October 13, 2009, the percentage of distressed properties listed for sale in the MLS accounts for 7.2% of all listings.  Of these, 3.3% are foreclosures and 3.9% are short sales.  When you look at the number of homes that have sold so far this year, the percentage is double at 14.4% (12.0% foreclosure and 2.4% short sales).  Because the distressed properties are generally priced below the market value, they have a higher likelihood of selling as compared to non-distressed sales.  It is also interesting to note that these numbers are fairly typical when compared with national numbers.  Currently in the United States, about 1 in 8 homeowners behind on their payments.  Of those, only 3 in 10 will attempt to take action to avert the foreclosure.

As one would expect, the distressed numbers for last year were lower than this year.  In 2008, the percentage of sold properties that were distressed sales was 8.4% (6.9% foreclosure and 1.5% short sale).

If you know someone who is behind on mortgage payments, please contact me to review foreclosure alternatives.

Based on information from the Austin/Central Texas Realty Information Service.