Mountain View Ca. Short Sale and Foreclosure Update 12/4/2010
Are you waiting for a distressed property for sale in Mountain View so you can snatch a bargain, or are just curious about them? Well, there are a few of these types of sales, but not that 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: 20
Pending short sale listings: 30
Closed Short Sales since Jan 1, 2010: 23
Active listings: 8
Closed since 1/1/10: 18
There have been 470 sales of homes and condos in Mountain View since Jan 1, 2010 so the percentage of distressed home sales is not enough to have much influence on the market yet. If the percentage gets over 10% then we will see a greater downward pressure. The majority of both short sales and foreclosures are in the townhome/condo market rather than single family home, but there are also a lot more condos and townhomes in Mountain View than there are single family homes.
However, I think that there more may be coming in the next few years. If you need to sell and owe more than your home is worth I would be happy to have a confidential discussion with you about your options. I am an experienced short sale realtor. If you are interested in purchasing a short sale or reo property I would be happy to speak with you about what you need to do to successfully purchase one.
Keller Williams Realty