Have we bottomed out of defaults in Santa Clara County? Part 2Con'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, cdpeA to B RealtyCampbell, CAAugust 28 2010 - San Jose00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.