Over 100 Houses in Hays Foreclosed Home Auction
The number of homes being sold off in a foreclosed home auction in the Austin metro area has been rising in the past seven months on a year-over-year basis, according to foreclosure sales data in Hays County.
The number of homes to be auctioned off in the Hays County foreclosed home auction in August increased to 125 units, an increase from the 73 homes listed for foreclosed home auction in August 2008.
Housing analysts in the Austin area said that the number of homes being auctioned off in Hays has been surpassing 100 units for the past seven months.
Year-to-date totals in Hays County this month reached 957 homes, the first time that the number surpassed 900 units, based on Hays foreclosed home auction records. The year-to-date number also marked an increase of 34 percent from the 712 postings recorded during the same month last year.
Based on a month-to-month comparison, the number of homes to be auctioned off in August marked a decrease from the number of homes for auction in July, which reached 144 units. The August number represented a decrease of 13 percent from the July total.
Analysts in the Austin metro area observed that investors still comprise the largest group in foreclosure auctions. Every month, investors have been trying to buy the properties either before the auction, during the auction or after the auction. Investors try to purchase the foreclosed properties from the lenders if these properties were not purchased during the auction.
The Austin metro area also includes Williamson, Travis and Bastrop. The number of homes for the August foreclosure auction increased in all these three counties.
In Travis County, the number of homes for the August foreclosed home auction increased by 39 percent compared to August 2008.
The number of foreclosed homes for auction in Williamson increased by 54 percent while the number of foreclosed homes for auction in Bastrop increased by 51 percent.
For year-to-date information, the number of postings in Travis increased by 60 percent while the number of postings in Williamson and in Bastrop increased by 58 percent and 52 percent, respectively.
Analysts observed that foreclosure postings in Bastrop County have fallen to their lowest point in 9 months.
For people interested in participating in the Hays foreclosed home auction in August, the auction will be held at the Hays County Courthouse on August 4. In Hays County, foreclosed home auctions are held every first Tuesday of the month.
