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Marcy Moyer's Blog

By Marcy Moyer | Agent in Palo Alto, CA

Santa Clara Distressed Property Watch 2011

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

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

650-619-9285

D.R.E.  01191194

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