In Santa Clara from Jan 1, 2012 until June 30, 2012 there were:
97 closed short sales
47 closed bank owned homes
Total sales during this time period were 491
Total % Short Sales: 19.8%
Total % REO Sales: 9.6%
Total Percentage Santa Clara Distressed Properties: 29.4%
29.4%
of all Santa Clara sales being distressed is enough to have an effect
on the overall market. However, as inventory is still so low, unless
these homes are truly physically distressed, which is more common with
bank owned homes at this level, most homes will not sell for much less
than fair market value. There are twice as many short sales as
foreclosures in this time period which is what we are seeing in many
other cities.
If you have any questions about short sales or foreclosures in Santa Clara County please feel free to contact me.
Marcy Moyer
Keller Williams Realty
www.marcymoyer.com
marcy@marcymoyer.com
650-619-9285
DRE 01191194
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