Over the last 8 months, the number of short sales or REO properties for sale in Almaden has virtually been non-existent. To date, there is only one REO property for sale in Almaden Valley.
Even, if we see a slight increase in the number of foreclosed properties (including both Short Sales and REO) in California, Almaden Valley is not impacted by this trend mostly for the following reasons:
1. Most home owners in Almaden Valley refinanced when the interest rates were low;
2. Residents of Almaden Valley are less likely to be faced with financial challenges. According to the latest data available from the US census, the median income for a family in Almaden Valley was $182,981.
In summary, during the housing crisis, Almaden Valley was one of the areas with the least number of short sales and REO properties and will most likely remain that way in the coming years.
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