Distressed properties still represent the greatest opportunity to create cash flow income for most investors. However, knowing the trends in Foreclosures should help these investors identify the best markets to target for acquisition. For instance, 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.
Closer to home in Los Altos, the picture is improving due to Great Public School where the demand continues to outpace the inventory of available homes for sale. The chart blow shows that a huge spike starting in November 2012 had a sharp decline in January 2013. The number of pre-foreclosures or Notice of Defaults filed in Los Altos has declined 90% compared to 2012.
Also the graph below show the Foreclosure filings in Los Altos which indicate that BOTH Notice of Default and Notice of Sale filings have jumped %200 percent compared to the previous month! That is a significant increase which means that there should be additional REO and Auction properties available in Los Altos in the coming months.
So, the fall of 2103 is shaping up to be an interesting season if you are looking for Los Altos Short Sales, Los Altos REOs or Los Altos Auction homes. You can visit our Foreclosure Listing page to locate distressed properties in Los Altos.
You can also contact us to learn more about strategies to profit from purchasing REOs.