Los Gatos Distressed Property Watch 2011

It's the beginning of the year so time for the round-up of last year's distressed property sales in Los Gatos. So here's what happened:

Single family and condo townhomes :

Total sales: 421

Short Sales: 42

REO: 24

Distressed sales as a percentage of total sales: 15.7%

Compare to 2010

Total sales: 489

Short Sales: 36

REO: 38

Distressed sales as a percentage of total sales: 15.1%

My conclusion:

The percentage of distressed properties in Los Gatos is virtually the same between 2011 and 2010. Also a 15% distressed property sale percentage is absolutely probably not 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

www.marcymoyer.com

marcy@marcymoyer.com

650-619-9285

D.R.E. 01191194