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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