Buying Foreclosure properties as rental investments still offers the greatest opportunity to create passive income for most investors. However, understanding the Foreclosures trends in your target market should be a critical component of your strategy to win in your target market.
Campbell, California is an ideal bedroom community in Silicon Valley which borders, Cupertino, San Jose, Los Gatos and Saratoga. The neat part of investing in Campbell is that you will enjoy the benefits of investing in Silicon Valley wihtout paying the high cost of such investments if you purchase Short Sales, REOs or Auction properties in nearby cities.
According to Foreclosure Radar which tracks the Foreclosure activity in Campbell increased 166% with Notice of Default filings and Notice of Sales increasing by a whopping %400! This means that the in the coming months there should be additional inventory of Foreclosures coming to Campbell. But as our own experience in marketing a San Jose Short Sale Listing that with great potential for rental income shows the competition will be fierce.
So, buying a Campbell Short Sale, REO or Auction property will require a well planned strategy to avoid over paying for your acquisition.
Now that we know that volume of Campbell Short Sales, REOs and Auctions will increase in the coming month, let’s find out how competitive the prices are at the Court House for you to acquire rental properties at a discount. The chart blow clearly indicate that the Opening & Winning Bids (price that banks want to start their bid with) for foreclosure auctions in Campbell has jumped 25% over the the SAME month in 2012! This means that if this trend is to continue, you will need to budget 25% more cash for your Foreclosure Auction purchases at Campbell, California.
Bottom line is that you need to study your target market to avoid over-paying 1st for at Foreclosure properties. You can start your search for Foreclosure Listing page to locate Short Sale, REO and Auction properties in Campbell and Contact Us to help you develop a strategy to secure a specific property.