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Lenders allow short sales in order to avoid foreclosure, which is a time-consuming and expensive process. A short sale can only happen with the lender’s permission, and a lender won’t agree to ...
What about sales and prices within Austin's city limits? In the city of Austin, there were 1,038 home sales, up 2.4% from May 2023, the board said. The median closing price last month was $608,438 ...
Don't worry, the housing recovery isn't wiping out the discounts on homes that were prevalent at the height if the housing decline. Short sales and foreclosures are still aplenty in many housing ...
This scenario may already be playing out: The median home sale price in Austin was down 6.2 percent year-over-year, according to June 2024 Redfin data, and homes there were taking a long 50 days ...
As of June 21, 2013 the Crestview neighborhood has seen a 19% increase in year over year sales volume. Inventory rates remain very low with a total of 3 months' worth of homes currently listed for sale and an average Days on Market of less than 20 days. Foreclosures and/or distressed sales are uncommon in this market given the high demand.
A short sale can affect credit as little as 50 points as opposed to a foreclosure, which could affect credit rating by more than 300 points. A deed in lieu of foreclosure has a much more devastating effect on the borrows credit. In addition, a short sale or short refinance will be recorded with credit bureaus as paid in full or settled for less.