It’s been a while since we’ve seen any distressed sales (bank owned, short sales, foreclosures, notice of default filed) but surprisingly there are 4 on the market all of the sudden. Given that most appear to be “pre-foreclosure” sales, meaning there is either a notice of default or a notice of trustees sale (meaning bank is threatening to foreclose) this isn’t quite the same level as a bank owned sale, this is still an interesting developement in the market. Generally speaking there haven’t been any of these in sometime as it’s realtively tough to be “underwater” on a mortgage when home values have gone up so dramatically. Here’s the distressed listings as of 11/22 (note that listing below are live so this list will change over time)

Current Foreclosures, Bank Owned Homes and Short Sales in the South Bay