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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