Find a development that was completed 4 or 5 years ago. A majority of the properties in the development will be underwater, where values are below mortgages. You can expect that there will be defaults in some cases these complexes have higher rates of default than other complexes. This will cause the supply of listings or distressed properties to be higher and bring down prices futher.
One example of this is the Encanto development in San Jose, near the University of Santa Clara. Currently there are a number of properties available. Some of the properties are still owned by the developer and are close outs. Others like the 4 listed below are distrissed sales, and judging from the number of defaults in the complex there will likely be more coming on the market.
1392 DAHLIA LP
MLS Num: 81005323
Status: Active
City: San Jose
County: SANTA CLARA COUNTY
Zip: 95126
Bedrooms: 3
Bathrooms: 2.5
Square Feet: 1246
Lot Size: 0.040 acres
Year Built: 2006
List Date: 2/5/2010
Org. List Price: $595,000
List Price: $550,000
Sold Date: –
Sold Price: –
Public Remarks
Reduced from $595K. Now a short sale so will need lender’s approval. Close to HP Pavillion, Valley Fair Mall, Santana Row, San Jose Airport, Caltrain, freeways, and WALKING DISTANCE TO Santa Clara University. ? 1,246 SF SFR ? 3 BR/ 2.5 BA? Cathedral ceiling in living room. Attached 2 car garage? Encanto Tract built by Robson Homes, completed in 2007. Community Pool & Clubhouse for entertaining.
1317 DAHLIA LP
MLS Num: 81005801
Status: Active
City: San Jose
County: SANTA CLARA COUNTY
Zip: 95126
Bedrooms: 3
Bathrooms: 3
Square Feet: 1475
Lot Size: 0.044 acres
Year Built: 2005
List Date: 2/8/2010
Org. List Price: $585,000
List Price: $585,000
Sold Date: –
Sold Price: –
Public Remarks
Amazing home available now! Spacious corner single family home at Encante. Desirable neighborhood near Santa Clara University with Low HOA dues and spacious 3 bedrooms, 3 baths and 2 car garage. Spanish style and open spacious floorplan. LOCATION! Don’t miss out!Shows like a model!
1190 CAMPBELL AVE
MLS Num: 81003183
Status: Active
City: San Jose
County: SANTA CLARA COUNTY
Zip: 95126
Bedrooms: 3
Bathrooms: 2.5
Square Feet: 1977
Lot Size: 0.051 acres
Year Built: 2006
List Date: 1/21/2010
Org. List Price: $725,000
List Price: $654,312
Sold Date: –
Sold Price: –
Public Remarks
This beautiful 3 Bedroom, 2.5 Bathroom home is located near Santa Clara University. With close to 2000 sq. ft. of living space and 2 one car garages you will not want to miss this rare opportunity.
1082 ARBOL WAY
MLS Num: 81009027
Status: Active
City: San Jose
County: SANTA CLARA COUNTY
Zip: 95126
Bedrooms: 3
Bathrooms: 2.5
Square Feet: 1371
Lot Size: 0.050 acres
Year Built: 2008
List Date: 2/25/2010
Org. List Price: $688,000
List Price: $688,000
Sold Date: –
Sold Price: –
Public Remarks
Almost new corner lot bungalow w/resort-like clubhouse & pool, within walking distance to SC Univ.Door opens into living,dining&kitchen, beaming with natural sunlight&refreshing view of orange trees.Unload groceries easily from 2-car garage.Private backyard, right off living room makes outdoor entertaining a breeze.3 BR together upstairs with walk-in closet & 2 separate vanity basins in master BR
Good Deal on Short Sales in San Jose
Recipe for a good deal:
Find a development that was completed 4 or 5 years ago. A majority of the properties in the development will be underwater, where values are below mortgages. You can expect that there will be defaults in some cases these complexes have higher rates of default than other complexes. This will cause the supply of listings or distressed properties to be higher and bring down prices futher.
One example of this is the Encanto development in San Jose, near the University of Santa Clara. Currently there are a number of properties available. Some of the properties are still owned by the developer and are close outs. Others like the 4 listed below are distrissed sales, and judging from the number of defaults in the complex there will likely be more coming on the market.
Status: Active
City: San Jose
County: SANTA CLARA COUNTY
Zip: 95126
Bathrooms: 2.5
Square Feet: 1246
Lot Size: 0.040 acres
Year Built: 2006
Org. List Price: $595,000
List Price: $550,000
Sold Date: –
Sold Price: –
Reduced from $595K. Now a short sale so will need lender’s approval. Close to HP Pavillion, Valley Fair Mall, Santana Row, San Jose Airport, Caltrain, freeways, and WALKING DISTANCE TO Santa Clara University. ? 1,246 SF SFR ? 3 BR/ 2.5 BA? Cathedral ceiling in living room. Attached 2 car garage? Encanto Tract built by Robson Homes, completed in 2007. Community Pool & Clubhouse for entertaining.
Status: Active
City: San Jose
County: SANTA CLARA COUNTY
Zip: 95126
Bathrooms: 3
Square Feet: 1475
Lot Size: 0.044 acres
Year Built: 2005
Org. List Price: $585,000
List Price: $585,000
Sold Date: –
Sold Price: –
Amazing home available now! Spacious corner single family home at Encante. Desirable neighborhood near Santa Clara University with Low HOA dues and spacious 3 bedrooms, 3 baths and 2 car garage. Spanish style and open spacious floorplan. LOCATION! Don’t miss out!Shows like a model!
Status: Active
City: San Jose
County: SANTA CLARA COUNTY
Zip: 95126
Bathrooms: 2.5
Square Feet: 1977
Lot Size: 0.051 acres
Year Built: 2006
Org. List Price: $725,000
List Price: $654,312
Sold Date: –
Sold Price: –
This beautiful 3 Bedroom, 2.5 Bathroom home is located near Santa Clara University. With close to 2000 sq. ft. of living space and 2 one car garages you will not want to miss this rare opportunity.
Status: Active
City: San Jose
County: SANTA CLARA COUNTY
Zip: 95126
Bathrooms: 2.5
Square Feet: 1371
Lot Size: 0.050 acres
Year Built: 2008
Org. List Price: $688,000
List Price: $688,000
Sold Date: –
Sold Price: –
Almost new corner lot bungalow w/resort-like clubhouse & pool, within walking distance to SC Univ.Door opens into living,dining&kitchen, beaming with natural sunlight&refreshing view of orange trees.Unload groceries easily from 2-car garage.Private backyard, right off living room makes outdoor entertaining a breeze.3 BR together upstairs with walk-in closet & 2 separate vanity basins in master BR