There was one near LG Lodge(across the street), seller dropped 300K overnight before the auction.
That 1 is probably just gone. There will be mores

Sam Shueh, realtor shueh at yahoo.com

What did you buy in Los Gatos?

Yes, I purchased an REO last year. I'm very familiar with the difference between REO and short sale and I'm also familiar with the auction process.
There are currently 107 properties in some form of the foreclosure process in Los Gatos/Monte Sereno. There are two REOs on Blossom Hill and an REO on Loma Alta.
Susan and Shawn must be so incredibly surprised to see so many foreclosures in Los Gatos School District. There was a really good fixer-upper REO right across the street from Fisher Middle a few months ago.

Hi K.,

Your question is almost a year old - so I'm wondering, are you still looking or did you buy a home?

If you are still looking, do you want to buy a "Bank Owned" property or a home attempting to be sold via "short sale"? They are very different. With bank owned or REO (Real Estate Owned by a bank), it's not a long, drawn out ordeal to purchase the home but there may be issues not disclosed to you since the previous owner is long gone. With a short sale, you may put an offer in on the property, have the seller accept it but have the bank never approve it. Only 10% of all short sales ever close escrow nationwide.

For information on buying homes in Los Gatos, please see the link below. The entire page is full of useful, Los Gatos specific information (whether you are buying a foreclosure or any other type of Los Gatos home).

Mehdi Safipour Keller Williams Silicon Valley.
I use to live in Los Gatos and now live in Saratoga know the area very well.

Bonnie Wilson and Joe Rosano - Intero Real Estate Services, Los Gatos Office - quality Realtors specializing in REO sales, asset management company negotiation, helping buyers and sellers for over 30 years - (408) 357-5700

Los Gatos is a highly desirable area, thus more pricy. I recommend you work with an experience full time Realtor who you feel comfortable working with. Clearly understand the plus and minus of each transaction type (active, short sell or reo). Either way, you can't lose. I live in Los Gatos and love it. Good luck to you and wish you the best.

Based on http://www.RealtyTrac.com there are 45 properties in pre-forclosure, 18 in auction and 23 bank-owned properties in Los Gatos now.

HTTP://WWW.AMIRSHAHKARAMI.COM
HTTP://WWW.SiliconValleyPropertySearch.com
http://www.888siliconValley.com

With a modest membership anyone can become a member of RealtyTrac.

Yes there are 3 active short sales in the Los Gatos Area, no REO's ot bank owned properties that i could find in my search.

There is one Short Sale in Saratoga, no Reo's.

If you would like more information feel fee to email me.

Dennis Mulvilhill at Alain Pinel 408 358 1111 has been doing REO/Foreclosuers for 20+ years.

K. Johnson --- There are listing agents that specialize in LISTING foreclosures. They represent BANKS not consumers. If you are a buyer, you would be served best by an agent that will show you homes that are for sale by banks and by Motivated Sellers. - An agent that has experience and skill negotiating BOTH types of sellers.

Most foreclosures are in worse condition and have higher list prices than equivalent motivated owner homes. This is why you should want to compare regular listings with Bank REO's. If you look only at Bank homes, you are likely to overpay.

There are not any forclosures or short sales in Los Gatos in the school district. I would be surprized if there ever was one.