It's the beginning of the year so time for the round-up of last year's distressed property sales in Los Altos. So here's what happened:
Single family and condo townhomes :
Total sales: 353
Short Sales: 4
REO: 3
Distressed sales as a percentage of total sales: 2%
Compare to 2010
Total sales: 354
Short Sales: 6
REO: 3
Distressed sales as a percentage of total sales: 2.5%
My conclusion:
The percentage of distressed properties in Los Altos is virtually the same between 2011 and 2010. Also a 2-2.5% % distressed property sale percentage is not large enough to affect values. I think that while there may be a few more short sales this year Los Altos is so desireable and the employement rate is so high that the market should continue its strength.
If you have any questions about short sales or bank owned homes please feel free to contact me.
Marcy Moyer
marcy@marcymoyer.com
650-619-9285
D.R.E. 01191194
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