Market Conditions in 95127>Question Details

angealu2006, Home Buyer in San Jose, CA

What are the market trends in listings and sales of foreclosed propertities in San Jose ZIP code 95127?

Asked by angealu2006, San Jose, CA Thu Mar 28, 2013

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John Juarez’s answer
The market trends in listings and sales of foreclosed properties in San Jose zip 95127 are the same as they are all over the San Francisco Bay Area and in many other markets.

Inventory is in short supply. Multiple offers are the order of the day. Prices are moving up.
0 votes Thank Flag Link Thu Mar 28, 2013
The market trends in the 95127 zip code area for foreclosures are improving significantly for homeowners. Values are rising significantly and many distressed property owners are finding their situation improving as home prices rise. Currently there are 29 active homes on the in 95127 market, of which 3 are short sales and 2 are bank owned properties for sale.

There are 77 homes that are pending sales and of those 40 are short sales and 1 is a bank owned property. For the past 6 months banks have been focusing on cooperating with short sales over the foreclosure. I believe the trend will continue with the banks preferring the short sale over a foreclosure and if the market continues to improve you will see less and less distressed sales.

The average marketing time of homes today is less than 30 days and inventory as a whole remains very low which will continue to put upward pressure on homes that come to market.

I hope this answered your question. Have a great day.
0 votes Thank Flag Link Thu Mar 28, 2013
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