More Short Sales properties in more price ranges are available in Round Rock and Austin real estate markets than at any time. This may sound like bad news, BUT the fact that home owners are taking advantage of Short Sales means that more homeowners are avoiding foreclosure.

This is good news because Short Sale homes are discounted less than foreclosures, and thus have less negative affect on Austin area home values. It is true that Short Sales homes sell for less than market value, but they will typically sell at 85-90% of fair market value compared to foreclosures, which sell for an average of approximately 70% of fair market value.

It is also a positive for the home owners because taking advantage of the opportunity to use the Short Sale process means less negative impact on their personal credit than a foreclosure would.

It is also positive in a less obvious way, since the fewer homes that banks and mortgage companies repossess, the better their balance sheet, and the more profitable they will be.  The strength of financial institutions is vital in our economy and managing Short Sales properly plays a small but important role.

As an everyday part of the Austin market, Short Sales help home buyers and home sellers. As mentioned, home sellers avoid foreclosure and do less damage to their credit, while home buyers are able to purchase homes below market value, while getting them in better condition, with home warranties and more secure Title.

Yes, Short Sales are just an everyday part of the Austin real estate market, and may continue to be for another couple of years, but accomplishing Short Sales helps Austin home values, it helps the home owners, and home buyers, so how can we not manage this process as professionally as possible... we owe to our clients and to ourselves!