It's the end of the year so time for the round-up of distressed property sales in San Mateo. So here's what happened:
Single family and condo townhomes :
Total sales: 887
Short Sales: 130
REO: 111
Distressed sales as a percentage of total sales: 27.17%
Compare to 2010
Total sales: 859
Short Sales: 103
REO: 110
Distressed sales as a percentage of total sales: 24.8%
My conclusion:
The percentage of distressed properties in San Mateo is a higher in 2011, 27.17% as compared to 2010, 24.8. Also, 27% of sales being distressed does start to have a downward effect on the overall price of homes in the city.
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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