In Blossom Valley from Jan 1, 2012 until June 30, 2012 there were:
263 closed short sales
104 closed bank owned homes
Total sales during this time period were 626
Total % Short Sales: 42%
Total % REO Sales: 16.6%
Total Percentage Blossom Valley Distressed Properties: 58.6%
58.6%
of all Blossom Valley sales being distressed is enough to still have
major 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, many homes will get multiple
offers and the values should increase this year. It is interesting to
see there are over two and half times as many short sales as bank owned
sales which has also happened in other cities. This area is great for
investors with a lot more activity than in some areas like East Palo Alto or Belle Haven.
If you have any questions about short sales or foreclosures in Santa Clar 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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