Tuesday, February 3, 2009

Santa Clara County Home (REO) Stats

5,800 listings for sale on the MLS in Santa Clara County.
*** 48% of those are Bank Owned REO or short sales ***
2,200 homes are in "Pending" status
*** 78% of the Pending homes are Bank Owned REOs or short sales ***

The bank deals ARE the market. This is very clear. Some "normal" sellers will price according to what the banks are selling homes for or they will not attract buyers. Yes, this is not easy to accept, yet that is reality.

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