Redwood City Distressed Property Watch 2011

By
Real Estate Agent with eXp Realty of California Silicon Valley Probate, Trust, and Investment Sales B.R.E. 01191194
https://activerain.com/droplet/qxj

It's the end of the year so time for the round-up of distressed property sales in Redwood City. So here's what happened:

 

Single family and condo townhomes 2011:

Total sales:  553

Short Sales: 91

REO:           49

Distressed sales as a percentage of total sales: 25.3

Compare to 2010

Total sales:   600

Short Sales:   93

REO:            78

Distressed sales as a percentage of total sales:  28.5

 

My conclusion:

The percentage of distressed properties in Redwood City is a little lower in 2011, 25.3% as compared to 2010, 28,5%. This is dues to a 40% decrease in REO sales in 2011. It will be interesting to see if the rumored release of REO inventory actually happens, and increases the percentage in 2012, or if the econmy picks up and helps people afford their homes.

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

Posted by

Marcy Moyer eXp Realty of California  Specializing in Probate and Trust Sales, and Rental Investment Properties

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
ActiveRain Community
Location:
California San Mateo County Redwood City
Groups:
Posts to Localism
REO REALTORS
Short Sales Specialists
Market Reports
Certified Distressed Property Expert
Tags:
redwood city bank owned
redwood city reo
redwood city short sale specialist
redwood city distressed properties
redwood city foreclosure

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainer
169,778
Menlo Park Real Estate and Homes for Sale
Wende Schoof - Menlo Park, CA
WendeByTheBay.com - 650.504.0219 - SF Peninsula

Marcy, these are a great series of posts and very helpful to realtors and the public who are interested in buying or selling homes.  Thank you for sharing these stats.  You really know your stuff!

Jan 03, 2012 03:31 AM #1
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
468,350

Marcy Moyer

Probate, Trust, and Investment Specialist
Ask me a question
*
*
*
*
Spam prevention

Additional Information