Friday, November 16, 2007

Santana Row Showing Signs of Short Sales

Wow that's a lot of "S's"
And yes, the glitzy Santana Row has the same financial issues as the rest of the valley. In fact, most of the short sales and foreclosures are in homes that sold in the last three years - precisely when all the condos sold at Santana Row. The popular A2 units with one bedroom and a den have been selling for approximately $650,000 in the last few months. Now there are at least two units for sale under $600,000. With rents going up, this may be a great opportunity to buy one and hold it. The market will come back next year, time to go bullish before everyone else does.

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