It's the beginning of the year so time for the round-up of last year's distressed property sales in the Blossom Valley Neighborhood of San Jose. So here's what happened:
Single family and condo townhomes :
Total sales: 1141
Short Sales: 412
Distressed sales as a percentage of total sales: 59.8%
Compare to 2010
Total sales: 1125
Short Sales: 366
Distressed sales as a percentage of total sales: 56.6%
The percentage of distressed properties in Blossom Valley is a little higher in 2011 over 2010. A 59% distressed property sale percentage is enough to affect values significantly. This may be one of the reasons home prices in San Jose are predicted to fall a little in 2012 while other parts of the Silicon Valley are appreciating.
If you have any questions about short sales or bank owned homes please feel free to contact me.
Marcy Moyer Keller Williams Realty Palo Alto, Ca. Specialist in Short Sales and Trust and Probate Sales