According to California based Foreclosure Radar which tracks the Foreclosure activity in Gilroy decling a decline of 20% for Notice of Default filings despite a 100% increase last month!! Also, the Notice of Sales declined by 6% which shows the number of homes heading to the auction are also declining to very few number for Gilroy to present good bargains for investors.
Gilroy, California is a agricultural community south of Silicon Valley and the Garlic Capital of United States. The neat part of investing in Gilroy is that you will enjoy the benefits of investing in larger homes without paying the high cost of such investments if you purchase Short Sales, REOs or Auction properties in nearby cities.
Now that we know that volume of Gilroy Short Sales, Gilroy REOs and Gilroy Auctions Homes will 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 Winning Bids for Foreclosure Sales in Gilroy has declined by 33% over the same period in 2012! Also, the published bids for Gilroy Foreclosure auctions declined by 39% reflecting the banks’s expectations that they would be taking it on the chin at the Court House!
Based on our examination of Foreclosure data for the cities in Santa Clara County, Gilroy represent the best opportunity for acquisition of Distressed Properties.
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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 Gilroy and Contact Us to help you develop a strategy to secure a specific property.