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Old 06-23-2011, 02:43 PM
 
322 posts, read 846,973 times
Reputation: 129

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Quote:
Originally Posted by mm57553 View Post
Also, I'm curious. Are there really a lot of people in Austin who put 20% down 5 years ago and are now THAT far upside down on the loan (assuming no refinancing, home equity loans, etc.)?

Homes here haven't skyrocketed by any means, but I don't know any areas where they absolutely tanked either, like CA, FL, Vegas, etc.

We did. We live in an older area of Round Rock and that seems to be what is going on around here.
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Old 06-23-2011, 03:08 PM
 
Location: 78747
3,202 posts, read 6,018,706 times
Reputation: 915
Does anyone have foreclosure statistics? I'm reading a lot negative posts on this thread about the local foreclosure situation, is it especially bad in N. Austin/RR/Pflugerville?

Last edited by jobert; 06-23-2011 at 03:20 PM..
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Old 06-23-2011, 03:31 PM
 
597 posts, read 1,317,062 times
Reputation: 333
It should also be noted that in countries that didn't have a mortgage crisis homeownership is way less common. Bottom line housing numbers will stay down probably for the next generation. Wages have been going down for more than 10 years, while things are costing more. We'll have to get by with less homeownership.
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Old 06-23-2011, 03:41 PM
 
2 posts, read 2,756 times
Reputation: 13
Quote:
Originally Posted by JayBrown80 View Post
I live in Pflugerville. 78660.
our area is hardest hit

hutto is same or worse

austin and round rock in general are not bad

==

insult to injury, travis cad wants taxes on 190k on 3000 sq ft area
and foreclosures are selling for 150 or below

I protested, and no help in informal

I ll have to fight in formal
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Old 06-23-2011, 04:54 PM
 
Location: Pflugerville
2,211 posts, read 4,849,543 times
Reputation: 2242
Quote:
Originally Posted by mayfair44 View Post
Are you saying you've bought, lived in and sold two prior homes as your primary residence?
Yes indeed. I know that living in a house for just a few years is not ideal, but both times I moved were due to job/family situations. I understood not maximizing profits on a house I only lived 3 years in.
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Old 06-23-2011, 05:20 PM
 
Location: Austin, TX!!!!
3,757 posts, read 9,058,660 times
Reputation: 1762
Quote:
Originally Posted by Sophializ View Post
Hello,

How is Austin to live and we both have degree and Tech and Spa business. How is the housing market? The people and over all Austin.
You may want to start your own thread. This is a thread about foreclosures in Austin so you might not find the help you are seeking on it.
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Old 06-23-2011, 05:48 PM
 
Location: Round Rock, Texas
13,448 posts, read 15,475,235 times
Reputation: 18992
Quote:
Originally Posted by mrkk View Post
our area is hardest hit

hutto is same or worse

austin and round rock in general are not bad

==

insult to injury, travis cad wants taxes on 190k on 3000 sq ft area
and foreclosures are selling for 150 or below

I protested, and no help in informal

I ll have to fight in formal
I dig you re: the taxes. They appraised our home at 300K when the foreclosure prices are nowhere close. I might add though that according to realtytrac, p-ville's foreclosures are either at or below cedar park's and round rock's. not any consolation, but it seems like the suburbs, with the new construction/easy mortgages, were hit hard in general.
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Old 06-23-2011, 08:27 PM
 
8,009 posts, read 10,424,435 times
Reputation: 15032
Quote:
Originally Posted by riaelise View Post
I dig you re: the taxes. They appraised our home at 300K when the foreclosure prices are nowhere close. I might add though that according to realtytrac, p-ville's foreclosures are either at or below cedar park's and round rock's. not any consolation, but it seems like the suburbs, with the new construction/easy mortgages, were hit hard in general.
I think the new construction and easy mortgages are just part of the problem. These areas also have a plethora of really inexpensive new construction as well.

People buying a $400K new home are probably not purchasing their first one and have a little more stability than someone buying a $150K new home. I think that's why Hutto is getting hit hard too.
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Old 06-23-2011, 10:00 PM
 
43 posts, read 84,756 times
Reputation: 17
man, all this talk makes me not want to buy. Too bad I just effed up getting into an awesome rental. Owner managed, el cheapo for a cute little place. F...

But I sorta have been shopping. Payments as low as rent. Hmmm. That's my goal, I'm looking only at the super cheapees. 90k and under, even though I qual for way more. It still scares the poo out of me.
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Old 06-23-2011, 11:12 PM
 
Location: NW Montana
6,259 posts, read 14,674,687 times
Reputation: 3460
Just make sure you are following some guidelines in regards to your income/mortgage payment. Also IMO never take out a second for a down payment...or a second for improvements.
Good luck!
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