Have we bottomed out of defaults in Santa Clara County? Part 2

Con't from part 1:
If one check neighborhood by neighborhood it does not take long to realize the more affluent neighborhood see more of the hits later. That may be attributed to the savings they have or knowledge to delay the events that take place.

The price in the low priced neighborhoods are already recovering if not inch up. However, it is not clear if the more affluent neighborhood home owners can hold price up as before.

I see more  evidence of short sales in Los Altos, Los Gatos, and now in Palo Alto also. Few residents from the South Bay can brag their homes did not lose in value. It is a question of how much and when the recovery for the area to return? That is a $1m question.  Time and more analysis will tell.

Sam Shueh, mba, cdpe
A to B Realty
Campbell, CA

  • August 28 2010 - San Jose
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