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The number of Hays County properties scheduled for foreclosure in May are down across the board, according to figures recently released by the Foreclosure Listing Service (FLS) of Addison.
A total of 96 properties are slated to be auctioned off on the Courthouse steps May 3, the FLS said, which is a 10 percent decrease from the 107 properties scheduled for auction last May; a 10 percent decrease over the number listed this month and a 23 percent decrease from May 2009.
The same held true, to greater or lesser percentages, in other Central Texas counties the service tracks. But comments by FLS President George Roddy Jr. worked to dampen any early enthusiasm.
“Although this is welcome news, I must caution this is only the second month in a row that foreclosure postings have dropped compared to one year earlier,” Roddy said. “No matter how welcome the news or how deep the drop, this does not reverse a long-standing trend.”
Moreover, “I believe this is an artificial decline in foreclosure notices due to the tremendous scrutiny applied by regulators during recent months in response to publicity about past problems with the foreclosure process, including robo-signing.”
For the Austin Metro area, which includes Travis, Williamson, Hays and Bastrop counties, May listings will be down 14 percent compared to a year ago; 29 percent from those listed this month and 24 percent from May 2009.
In Travis County, the decrease from a year ago was 19 percent and from this month, 31 percent. Williamson County saw a drop of only six percent compared to May 2010 but a drop of 29 percent from this month. In Bastrop County, the decline from a year ago was 23 percent and the drop from this month 43 percent.
Comal County, which is not a part of the Austin Metro area, saw a mere one percent decline from May 2010 but a 32 percent drop from this month. Guadalupe County, likewise outside the metro area, saw a 16 percent decline from a year ago and a 36 percent decrease from this month’s postings.
Concerning postings so far this year, the numbers for Hays County are basically unchanged — 641 properties had been listed during the first five months of 2010 compared to 640 for this year. Hays’ numbers are still running 16 percent ahead of May 2009.
The same was true across much of the region, with a zero percent change from a year ago for the five-county Austin Metro area and zero percent change for Travis County.
Year-to-date numbers in Williamson County were up one percent and in Bastrop, up eight percent.
Roddy reiterated his belief the region is “not out of the woods yet” when it comes to the foreclosure crisis.
“The fallout from this foreclosure crisis is going to take a long time to work through,” he said. “While some will want to jump for joy and claim that job gains in Texas over the last year was the catalyst, there has simply not been enough growth yet, nor has it been for a significantly sustained period of time.”
He also noted that even though employment numbers have improved, “many workers are being hired at wages far lower than at their previous job.”
Local News
Foreclosures down
FLS: Hays County homes still being auctioned, but outlook improving
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