According to Foreclosure Radar which tracks the Foreclosure activity in Gilroy increased a whopping 100% for Notice of Default filings and Notice of Sales increasing by a %15! This means that the in the coming months there should be additional inventory of Foreclosures coming to Sunnyvale. 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.
But why even bother focusing on Foreclosure!? Well, foreclosure properties as rental investments still offers the greatest opportunity to create passive income for average investors who don’t have are not backed by hedge funds or a rich uncle. However, understanding the Foreclosures trends in your target market should be a critical component of your strategy to win in your target market.
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 Opening & Winning Bids (price that banks want to start their bid with) for foreclosure auctions in Gilroy has declined over the the SAME month in 2012!
This means that if this trend is to continue, you will need to budget less cash for your Foreclosure Auction purchases at Gilroy, California. Based on our examination of Foreclosure data for the cities in Santa Clara County, Gilroy represent the best opportunity for acquisition of Distressed Properties.
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.