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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