Are you looking for a deal in a Short Sale or Bank Owned home in Santa Clara County? If so, don't bother. The inventory of distressed properties in the county is so low it is not worth doing a specific search for either a short sale or foreclosure. If one comes up in your general area search, go for it, but don't expect to get a deal, because there are so few of them.
Total number of single family homes for sale in Santa Clara County
1045 (historically low number)
Total number of short sales SFR For Sales in Santa Clara County:
65 or 6.2%
Total Number of SFR Foreclosures For Sale in Santa Clara County
18 or 1.7%
Total Number of Condos/Townhomes For Sale in Santa Clara County
233 (historically low number)
Total Number of Short Sale Condos For Sale In Santa Clara County
23 or 9.8%
Total Number of Bank Owned Condos For Sale in Santa Clara County
11 or 4%
Combined Single Family Homes and Condos/Townhomes for Sale in Santa Clara County
1278
Total Number of Single Family Homes and Condos/Townhomes for Sale That Are Short Sales or Bank Owned in Santa Clara County
117
Total Percentage of Short Sales and Bank Owned Homes and Condos/townhomes
9.2%
As you can see the inventory of Santa Clara County Short Sales and Bank Owned properties that are currently for sale is less than 10%. This is not enough to bring the price of homes down in Santa Clara County, and not enough to allow for these homes to sell for less money than any other home in a similar location and condition. So, if one shows up in your search, be prepared for having to work harder to get through the offer and escrow process, but do not expect to to get a bargain.
If you have any questions about Short Sales or Bank Owned Homes in Santa Clara County please feel free to contact me.
Marcy Moyer
650-619-9285
D.R.E. 01191194
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