It's the beginning of the year so time for the round-up of last year's distressed property sales in Milpitas. So here's what happened:
Single family and condo townhomes :
Total sales: 513
Short Sales: 150
Distressed sales as a percentage of total sales: 51.1%
Compare to 2010
Total sales: 535
Short Sales: 131
Distressed sales as a percentage of total sales: 50.1%
The percentage of distressed properties in Milpitas is virtually the same between 2011 and 2010. Also a 50% distressed property sale percentage is absolutely large enough to affect values. What is interesting is the the number of short sales in 2011 went up as the number of REOs went down from 2010 as banks have been more wiiling to approve short sales.
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