It's the end of the year so time for the round-up of distressed property sales in Menlo Park. So here's what happened:
Single family and condo townhomes 2011:
Total sales: 451
Short Sales: 39
REO: 22
Distressed sales as a percentage of total sales: 13.5%
Compare to 2010
Total sales: 431
Short Sales: 28
REO: 29
Distressed sales as a percentage of total sales: 13.2%
My conclusion:
The percentage of distressed properties in Menlo Park are very similar to 2010 at 13.2%, however, there is one big difference. In 2010 there were 6 distressed property sales in homes in the Menlo Park or Las Lomitas School District, with the remainder in the Redwood City or Ravenswood District. In 2011 there were 18 distressed property sales in homes in the Menlo Park School District. This follows a national trend of the higher priced homes as a growing segment of distressed sales.
If you have any questions about short sales or bank owned homes please feel free to contact me.
Marcy Moyer
marcy@marcymoyer.com
650-619-9285
D.R.E. 01191194
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