palo alto foreclosures: Palo Alto Ca Short Sale/Bank Owned Round Up
- 07/30/12 05:46 AM
In Palo Alto from Jan 1, 2012 until June 30, 2012 there were: 1 closed short sales 3 closed bank owned homes Total sales during this time period were 284 Total % Short Sales: .3% Total % REO Sales: .9% Total Percentage Palo Alto Distressed Properties: 1.2% 1.2% of all Palo Alto sales being distressed properties is not enough to even comment on. The price of homes have in Palo Alto is now up to pre 2008 prices in the $2,500,000 price range and the homes over $2,500,000 usually do not have loans that are a very high percentage of their value so anyone … (0 comments)
Single family and condo townhomes 2011: Total sales: 590 Short Sales: 13 REO: 9 Distressed sales as a percentage of total sales: 3.73% Compare to 2010 Total sales: 563 Short Sales: 8 REO: 6 Distressed sales as a percentage of total sales: 2.5
My conclusion: The percentage of distressed properties in Palo Alto are not enough to make a difference in the market value of … (0 comments)
1. Sold foreclosures: 1 single family home 4 condos 2. Active and pending foreclosures: 0
1. Sold short sales: 1 condo 2. Active and pending short sales: 5 single family homes and 1 condo
Total Homes sold in first quarter: 156 (combined single family homes and condos)
The percentage of distressed properties in Palo Alto is still very low compared to most of the country with almost no foreclosure activity. However, there are a … (0 comments)
palo alto foreclosures: Will a Bank Lower the Price of an REO Home after inspections?
- 03/13/11 12:56 PM
I got a call a few days ago from a buyer of a home in southern California. He made an all cash offer on a foreclosed property which was countered at a higher price because there was a second offer from and FHA buyer for more money. He agreed to the higher price and then did his inspections. there were a number of issues that made this buyer feel like he paid too much and wanted my advice about how to get the bank the lower the price. The FHA buyer was given back up position for the purchase of this … (8 comments)
palo alto foreclosures: Palo Alto Ca Short Sale/REO Watch 11/30/2010
- 11/30/10 03:32 PM
Are you waiting for the rash of short sales and REO properties in Palo Alto so you can snatch a bargain. or just curious about them? Well, not much has changed in the last few months. There are a few of these types of sales, but not many. Short sales, as in other places, are more common than foreclosures. Most banks are at least giving homeowners the option to try to do a loan modification or short sale before foreclosing. These options do not always work, but they are worth a try. Active Short Sale Listings: 1 condo 2 Single family … (4 comments)
palo alto foreclosures: Palo Alto Market Update
- 10/30/10 01:08 PM
According to the MLS here is the state of the market for 10/28/2010... Active listings: 88 Pending Sales: 60 Active Short Sales: 1 Active Bank owned: 1 Pending Short Sales: 1 Pending Bank owned: 0 Sold Short Sales 2010: 2 Sold Bank Owned in 2010: 1 What does this mean? Despite the reports of doom and gloom in the media for the national real estate market, and despite the hysteria on many web sites, as of now, the Palo Alto market is not being influenced by distressed properties. This does not mean that it will not be in the … (0 comments)
Many distressed homeowners have found that if they are unable to make mortgage payments they are frequently not foreclosed on for many many many months. It appears as if many banks are trying to release foreclosures in a way that will not further depress prices and want to keep these delinquent homeowners in a home so that it is not vacant for long periods of time, which further devalues their investment. However, this does not seem to be the case for Palo Alto. While Palo Alto has had very few foreclosures come to the market, the ones that have are … (5 comments)
palo alto foreclosures: The FACTS About Palo Alto Short Sales and Foreclosures
- 06/08/10 01:51 PM
There's a lot of chatter on real estate blogs about the steep increase in foreclosures and short sales in Palo Alto.Unfortunately many sites post stats from a company called Realty Trac which tracts everything from a Notice of Default through a listed bank owned property. Many things can happen before a home with a Notice of Default actually gets to be sold by the bank, but unless you read the fine print carefully it is easy to confuse a house that is behind a few months in payments with an actual bank owned property on the market for sale. Most bank owned homes as … (2 comments)
83 Active listings 49 Pending sales So, active listings continue to decrease. Pending sales are also down a little, but only 3 less than the decrease in active listings. Here are the interesting numbers for this week: Under 1.5 million: Active 31 Pending 37 There are more pending sales than active listings in this group. That is an extremely healthy segment of the market. 2 million to 2.5 million: 5 active and 5 pending … (0 comments)
One of the great things about being a realtor is that the profession is always changing. Every year I try to figure out what is on the horizon for this world and how I can get involved in what is new. Despite the relatively few number of REO properties in my market area, they do exist and I have had clients interested in properties that are REO, banked owned and being sold through the multiple listing service. This has lead me into a world that is sometimes more bizarre than Wonderland and definitely harder … (8 comments)
In Palo Alto from Jan 1, 2012 until June 30, 2012 there were:
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