Santa Clara County: 2012 Short Sale and Foreclosure Roundup

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

As the year comes to a close you may be wondering what the foreclosure and short sale market looks like in Santa Clara County. In a word, things are pretty quiet. The numbers of sales are down. Here is what it looks like:

Santa Clara County Short Sales

Closed sales from June 1,2012 to Dec 26, 2012:  

 

Bank owned: 579

Short Sales: 1743

 

Compared to the first 6 months of 2012:

 

Bank owned: 978

Short sales: 1603

 

Current Active Sales:

Bank Owned:  33

Short Sales: 76

 

Current Pending Sales:

Bank Owned: 54

Short Sales: 1044

 

As you can see there has been a large drop off in REO sales with a slight increase in short sales.

I expect a decrease in both short sales and foreclosures as Santa Clara home values increase, loan modifications increase, and the Homeoner's Bill of Rights takes effect in 2013. As prices increase fewer homeowners are underwater, and the need for short sales and foreclosures decrease. Also, the tax exemption of the debt forgiveness on short sales and foreclosures expires at the end of 2012. This will be a big incentive for homeowners to try to hold on until they are no longer underwater.

 

If you have any questions about Santa Clara County Short Sales or Foreclosures please feel free to contact me.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

D.R.E. 01191194

650-619-9285

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 Santa Clara County
Groups:
Keller Williams 'Rainers
REO REALTORS
Short Sales Specialists
Market Reports
Certified Distressed Property Expert
Tags:
santa clara county short sales
santa clara reo
santa clara county short sale specialist
santa clara county short sale real estate agent

Post a Comment
Spam prevention
Spam prevention
Post a Comment
Spam prevention

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