So, we started wondering if buying a Short Sales, REOs and Auction homes in Palo Alto is possible in the remaining months of 2013. Foreclosure filing in Santa Clara County have dropped 41% according to Foreclosure Radar which tracks the Foreclosure activity across several Western States. However, the notice of Sales have increased by 38% which could be an indicator that the number of foreclosures could increase in the coming months. Does this mean there are no good investment opportunities in Santa Clara county!? Our answer is a resounding no since we have a Willow Glenn Short Sale listing that with great potential for rental income and perhaps a flip after some repairs.
But in Palo Altol, the picture is improving due to Great Public School where the demand continues to outpace the inventory of available homes for sale. The graph below show the Foreclosure filings in Palo Alto which indicate that Notice of Defaults jumped 300 percent compared to the prior month!! That is a significant increase which means that there should be additional REO, Short Sale and Auction properties in Palo Alto in the coming months.
So, the fall of 2103 is shaping up to be an interesting season if you are looking for Short Sales, REOs or Auction homes in Palo Alto. It might be a good time to get your check book ready for a Palo Alto acquisition.
You can visit our Foreclosure Listing page to locate distressed properties in Palo Alto. You can also contact us to learn more about strategies to profit from purchasing REOs, Short Sales or Auction homes.