Only 0.2 percent of North Texas homes were in foreclosure in July, according to CoreLogic data. During the worst of the recession in 2010, about 1.5 percent of all area home loans were in foreclosure. Austin-Round Rock had the lowest foreclosure rate of the major Texas metros at 0.1 percent. It also had the lowest mortgage delinquency rate at 2.3 percent. This is one of the major reasons house-flipping isn’t as prevalent in Austin as in other areas...there are simply fewer financially distressed homeowners in the Austin metro. And, this is one of the reasons the iBuyer program doesn’t make sense here, either...our hot real estate market allows ANY home seller to submit their home to the market (which is global now with the internet) to reap MAXIMUM profit from the sale of their home vs. doing a “quickie” sale where the iBuyer company takes the homeowner’s profit.
Full Article here: North Texas foreclosure rate at 0.2 percent
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