Are there any chances to buy Foreclosures properties in San Jose!? The data makes it rather discoursing to think that there will be many opportunities to buy REOs and Auction properties in San Jose. Below is the chart of San Jose foreclosure Data from Property Radar that shows significant decline in the number of REOs and Auction properties for July 2013.
The data shows that a decline of more than 65% for Notice of Defaults from previous year while the Notice of Sales have declined more than 60%. That means only very few homes are heading to auction at the court house for you to have a chance to bid on them.
As for foreclosure inventories that data is not that promising either since the recent increases in home prices have allowed some San Jose homeowners to avoid Short Sale and list their home for a Fair Market Sale. As you can see from the chart below, the number of REOs is down 39% compared to July 2012 and the NOD filings is down 54% compared to last year.
The data clearly indicate a march towards a market where the distressed property sales will not be dominating the market. This data also indicates that without access to distressed properties, as investors you will have to develop additional channels to find fixer uppers to realize your dreams of home ownership.
As this trend continues it creates demand for regular properties where our cash buyers can make a quick offers to your home if you are ready to sell.
Contact Us for a Complimentary Home Value Report showing how much you will net if we sold your house today.