Tuesday, January 31, 2012

Los Altos Hills Distressed Property Watch 2011

It's the beginning of the year so time for the round-up of last year's distressed property sales in Los Altos Hills. So here's what happened:

Single family and condo townhomes :
Total sales:  97
Short Sales: 4
REO:            6
Distressed sales as a percentage of total sales: 10.3%
Compare to 2010
Total sales:   81
Short Sales:   5
REO:            1
Distressed sales as a percentage of total sales:  7.4%

My conclusion:
The percentage of distressed properties in Los Altos is higher  2011 over 2010. 7-10% distressed property sale percentage is just beginning to affect values but I think there are other reason Los Altos Hills values are decreasing that are more important than short sales and foreclosures. The area is just not as popular these days as Atherton and Palo Alto are for the high end buyer.
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
Marcy Moyer Keller Williams Realty Palo Alto, Ca. Specialist in Short Sales and Trust and Probate Sales
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Los Altos Distressed Property Watch 2011

It's the beginning of the year so time for the round-up of last year's distressed property sales in Los Altos. So here's what happened:

Single family and condo townhomes :
Total sales:  353
Short Sales: 4
REO:            3
Distressed sales as a percentage of total sales: 2%
Compare to 2010
Total sales:   354
Short Sales:   6
REO:            3
Distressed sales as a percentage of total sales:  2.5%

My conclusion:
The percentage of distressed properties in Los Altos is virtually the same  between 2011 and 2010. Also a 2-2.5% % distressed property sale percentage is not large enough to affect values. I think that while there may be a few more short sales this year Los Altos is so desireable and the employement rate is so high that the market should continue its strength.
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
Marcy Moyer Keller Williams Realty Palo Alto, Ca. Specialist in Short Sales and Trust and Probate Sales
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Sunday, January 29, 2012

Cupertino Distressed Property Watch 2011

It's the beginning of the year so time for the round-up of last year's distressed property sales in Cupertino. So here's what happened:

Single family and condo townhomes :
Total sales:  453
Short Sales: 21
REO:            11
Distressed sales as a percentage of total sales: 6.8%
Compare to 2010
Total sales:   844
Short Sales:   31
REO:            33
Distressed sales as a percentage of total sales:  7.6%

My conclusion:
The percentage of distressed properties in Cupertino is virtually the same  between 2011 and 2010. Also a 6-7% distressed property sale percentage is not large enough to affect values. What is interesting is the number of total sales in Cupertino is significantly lower in 2012 than 2011.
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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Sunday, January 22, 2012

Santa Clara Distressed Property Watch

It's the beginning of the year so time for the round-up of last year's distressed property sales in Santa Clara. So here's what happened:

Single family and condo townhomes :
Total sales:  816
Short Sales: 184
REO:            116
Distressed sales as a percentage of total sales: 37%
Compare to 2010
Total sales:   818
Short Sales:   162
REO:            133
Distressed sales as a percentage of total sales:  36%

My conclusion:
The percentage of distressed properties in Santa Clara is virtually the same  between 2011 and 2010. Also a 36% distressed property sale percentage is large enough to affect values. What is interesting is the the number of short sales went up in 2011 and the number of REOs went down. Hopefully this will continue in 2012.
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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Tuesday, January 10, 2012

Sunnyvale Distressed Property Watch 2011

It's the beginning of the year so time for the round-up of last year's distressed property sales in Sunnyvale. So here's what happened:

Single family and condo townhomes :
Total sales:  835
Short Sales: 111
REO:            73
Distressed sales as a percentage of total sales: 22%
Compare to 2010
Total sales:   849
Short Sales:   106
REO:            89
Distressed sales as a percentage of total sales:  23%

My conclusion:
The percentage of distressed properties in Sunnyvale is virtually the same in Sunnyvale between 2011 and 2010. This percentage is starting to have an effect on prices, east of El Camino. However in the 94087 zip code there were 11 short sales and 3 REOs in 2011 compared with 4 short sales and 2 REOs in 2010 out of 295 sales in 2011 and 307 sales in 2010. While short sales almost trippled in 2011 the percentages are still very low compared to the other zip codes in Sunnyvale. 
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
Marcy Moyer Keller Williams Realty Palo Alto, Ca. Specialist in Short Sales and Trust and Probate Sales
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Sunday, January 8, 2012

Mountain View Distressed Property Watch 2011

It's the end of the year so time for the round-up of distressed property sales in Mountain View. So here's what happened:

Single family and condo townhomes :
Total sales:  563
Short Sales: 62
REO:           34
Distressed sales as a percentage of total sales: 17%
Compare to 2010
Total sales:   572
Short Sales:   50
REO:            34
Distressed sales as a percentage of total sales:  15.5%

My conclusion:
The percentage of distressed properties in Mountain View is a higher in 2011, 17% as compared to 2010, 15.5% but the majority of these distressed properties are in the lower price range of Mountain View sales so are being purchased by investors and first time home buyers. West of El Camino is not seeing much distressed property activity.
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
Marcy Moyer Keller Williams Realty Palo Alto, Ca. Specialist in Short Sales and Trust and Probate Sales
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Wednesday, January 4, 2012

San Carlos Distressed Property Watch 2011

It's the end of the year so time for the round-up of distressed property sales in San Carlos. So here's what happened:

Single family and condo townhomes :
Total sales:  357
Short Sales: 24
REO:           18
Distressed sales as a percentage of total sales: 11.7%
Compare to 2010
Total sales:   312
Short Sales:   17
REO:            10
Distressed sales as a percentage of total sales:  8.6%

My conclusion:
The percentage of distressed properties in San Carlos is a higher in 2011, 11.7% as compared to 2010, 8.6%. However, at this point the percentage is still ow enough not to have a major effect on property values.
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
 
Marcy Moyer Keller Williams Realty Palo Alto, Ca. Specialist in Short Sales and Trust and Probate Sales
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Sunday, January 1, 2012

Redwood City Distress Property Watch 2011

It's the end of the year so time for the round-up of distressed property sales in Redwood City. So here's what happened:

Single family and condo townhomes 2011:
Total sales:  553
Short Sales: 91
REO:           49
Distressed sales as a percentage of total sales: 25.3
Compare to 2010
Total sales:   600
Short Sales:   93
REO:            78
Distressed sales as a percentage of total sales:  28.5

My conclusion:
The percentage of distressed properties in Redwood City is a little lower in 2011, 25.3% as compared to 2010, 28,5%. This is dues to a 40% decrease in REO sales in 2011. It will be interesting to see if the rumored release of REO inventory actually happens, and increases the percentage in 2012, or if the econmy picks up and helps people afford their homes.
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
Marcy Moyer Keller Williams Realty Palo Alto, Ca. Specialist in Short Sales and Trust and Probate Sales
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