Did you know that 43% of all the pending sales in Blossom Valley are Short Sales?  or that 41% in Berryessa are short sales?  Compare that to 2% in Los Gatos and we can see that it really is Location Location Location. 

Or did you know that 47% of all the active listings in South San Jose are Short Sales? or 45% for Alum Rock. 

Are Short Sale Listings really Active?  The one thing I know about a Short Sale is that there is nothing Short about it. 

In Area 1 where I work, Morgan Hill, San Martin & Gilroy the stats are 28% of all the pendings are Short Sales and 24% of all the listings are Short.  I would bet a Starbucks that over 60% of the Shorts are in Gilroy. 

Why does this matter?  Well... when we listen to National Media making generalizations about the Real Estate Market and predicting more blood in the streets with recovery coming in maybe 2012 or 2023.  The only thing I can say is maybe in some places but not really in the Center of the Known Universe which is, frankly the Silicon Valley.