The numbers of homes, available, for sale this year are down significantly compared to January 2009. Numbers of banked owned inventory drop 78%, short sale inventory drop 64% and regular sale inventory drop 31%. The Buyers, of homes in Silicon Valley, ignored all the negative headlines and expert predictions of the “foreclosures tsunami” and lower home price. The demand for distress homes, available, outpaces the supply; which resulted in higher prices and has setup the market for a strong price increase this spring.

The bank owned market will have little influence, on prices, due to small numbers of closed sales.

The short sale market will flourish and represent an opportunity for investors. The challenges will vary from real estate agents to servicers to investors. The regular sellers will be frustrated, since their homes will be compared to the sold and pending short sale listings.

Last but not least, expect a major reduction in the number of Professional Real Estate Agents and Brokers in the field as the competition heats up in 2010, even hotter than 2009. By that I mean that buyers agents are having a hard time making a living with the low level of inventory available. Experienced realtors have survived and succeeded as they have established those long term connections over the years.

For a confidential evaluation of your investment needs and objectives, please contact Jason Lee (DRE #01051200) at (408)348-7988 cell or (408) 998-1300 office or email: This e-mail address is being protected from spam bots, you need JavaScript enabled to view it .

  Short Sale - Things You Should Consider!

A major concern for homeowners contemplating short sale is whether they will be personally liable for any shortfall. If, for example, Sophie Seller owes $340,000 on her mortgage loan, but sells the property for only $300,000 (less costs) in short sale, will she be obligated to repay the $40,000 shortfall? Click here for full description.

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