Recently I was reading a local, online publication in which someone quoted Trulia's numbers of distressed properties in Los Gatos and tied them in to a percentage of the homes for sale here that appeared so high as to be surreal.
How could that be? I am on the MLS every day, and the Los Gatos real estate market, while soft, is not "tanking", which would be the case if there were truly so many short sales and bank owned properties on the market today.
Part of the answer is that Trulia relies on Realty Trac, which I have found to contain outdated information and inflated numbers. The other part is that not all homes with a notice of default will foreclose or be a short sale that is on the market.
For the real numbers, please get the whole scoop at my Live in Los Gatos blog:
Distressed Properties in Los Gatos: How Many Are For Sale?
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