Heather's Take on Austin Real Estate

Foreclosures show signs of easing
(Austin American-Statesman) 1/15/2010

Austin area foreclosure postings rose just 2 percent for the February auction from a year earlier, the smallest increase in months. According to Foreclosure Listing Service Inc., 1,286 properties were posted for the Feb. 2 auction, up from 1,261 a year earlier. It was the lowest level in five months.

Postings were up 32 percent in Travis County from a year earlier and up 13 percent in Williamson County. They fell 7 percent in Hays County and 31 percent in Bastrop.
George Roddy Sr., president of Foreclosure Listing Service, said the trend was encouraging, but cautioned that “a change for one month does not establish a new trend. We will just have to wait and see what happens next month.”

The Travis County postings include repeat postings on a number of high-profile commercial properties, according to Real Estate Foreclosures Inc. in San Antonio. They include the stalled Star Riverside condominium development on East Riverside Drive and the Avana housing development in South Austin.

The list also includes the bankrupt $192 million Hill Country Galleria in Bee Cave. A private auction was conducted for the mall. The outcome is not expected to be public until next week.