WaMu Update

Yes, WaMu is still in the game AND they have a sense of humor

Cash Flow Condos in the Valley?

Is it possible? It sure had not been for a few decades.
Last weekend I took a buyer out to look at 2 bedroom condos - all bank owned REOs - in Alum Rock and Berryessa. Pricing was from $170,000-$200,000. Some were in decent locations, decent condition, very good rental property candidates. After running a simple cash flow scenario - break even was easily achievable with 20% down. This bottom tier of the first time home buyer market has been hardest hit. It will also be the tier that will rebound the best % up. Nice opportunity to make some good appreciation in a year or two.

Santa Clara County MLS Inventory Trend Report

Please click the above spreadsheets to view larger picture.

Santa Clara County Bank Owned Condo's

List Price/Street Address/City/Bldg SqFt
584900/1924 MERIDIAN AV/San Jose/1949
569900/3079 DUNHAM WY/San Jose/1712
544900/2679 VILLA CORTONA WY/San Jose/1888
494900/814 FASCINATION PL/Milpitas/1369
470000/5104 WESTMONT AV #17/San Jose/1105
469900/344 MONTECITO WY/Milpitas/1165
435000/380 IMAGINATION PL/Milpitas/1012
419900/2502 YERBA HILLS CT/San Jose/1216
415000/3323 BENTON ST/Santa Clara/1476
399000/870 FREMONT ST #105/Santa Clara/1408
389900/2869 S BASCOM AV #501/Campbell/841
359900/5033 GREY FEATHER CI/San Jose/1137
354900/1796 BATTERSEA CT/San Jose/1176
339900/279 TRADEWINDS DR #7/San Jose/1252
337400/1515 ALMA TE/San Jose/1071
329900/5535 DON OCTAVIO CT/San Jose/1439
327900/1920 MESSINA DR/San Jose/968
320000/3588 PAYNE AV #14/San Jose/1032
314900/946 KIELY BL #E/Santa Clara/956
314900/4685 ALBANY CI #121/San Jose/813
314900/4908 CALLE DE ESCUELA/Santa Clara/1080
309900/3314 INNERWICK LN/San Jose/1131
299900/7064 MOUNT VERNON WY/Gilroy/1645
299900/5082 SUTTER CREEK CI/San Jose/816
299900/2158 GALVESTON AV #0000D/San Jose/1125
299900/425 CARPENTIER WY/San Jose/1442
299000/96 POAS CI/San Jose/1180
290000/201 SUNWOOD MEADOWS PL/San Jose/920
284900/185 SILCREEK DR/San Jose/1318
279900/144 SURREY CT/Milpitas/980
269900/3179 KENLAND DR/San Jose/1012
269000/77 SILCREEK DR/San Jose/1318
267000/297 GRECIA CT/San Jose/1474
259900/3598 PAYNE AV #00009/San Jose/1080
255000/2937 ROSE AV/San Jose/1235
250999/2945 ROSE AV/San Jose/1235
249900/355 RIO VERDE PL #00001/Milpitas/1050
249900/5160 CRIBARI KL/San Jose/1240
246900/18216 HALE AV #A/Morgan Hill/1145
239900/171 RANCHO MANOR CT/San Jose/1034
236635/4012 SHANJ CT/San Jose/1042
235047/3154 KENLAND DR/San Jose/1012
230900/3569 GUM TREE DR/San Jose/1249
230199/687 BALFOUR DR/San Jose/1075
229900/3165 KENLAND DR/San Jose/1094
229900/327 KENBROOK CI/San Jose/1094
224900/274 OROSI WY/San Jose/1180
224900/354 KENBROOK CI/San Jose/1094
224900/5468 SPINNAKER WALKWAY #1/San Jose/810
219900/1395 MCQUESTEN DR #0000D/San Jose/876
219900/18214 HALE AV #B/Morgan Hill/1145
219900/5581 SPINNAKER DR #3/San Jose/903
214997/3127 KENLAND DR/San Jose/1012
214900/824 BLOSSOM HILL RD #4/San Jose/798
210000/5725 CALMOR AV #1/San Jose/810
209900/36 MUIRFIELD CT/San Jose/1054
209900/510 CINNAMON DR/San Jose/1017
204900/5497 SPINNAKER WALKWAY #2/San Jose/903
200000/2474 GOLZIO CT #1/San Jose/810
199900/259 N CAPITOL AV #00106/San Jose/828
199900/797 DELAWARE AV #1/San Jose/810
197900/259 N CAPITOL AV #201/San Jose/828
197000/210 STONEGATE CI/San Jose/704
196900/3120 SHADOW SPRINGS PL/San Jose/866
194900/310 TRADEWINDS DR #3/San Jose/959
189900/259 N CAPITOL AV #B147/San Jose/955
189900/360 KENBROOK CI #139/San Jose/1012
189000/32 CASTLECREST DR/San Jose/704
185500/918 BELLHURST AV/San Jose/986
185405/2066 OJO DE AGUA CT/San Jose/1000
183000/1043 BELLHURST AV/San Jose/986
179500/7757 GHIRLANDA CT/Gilroy/908
179000/1411 MCQUESTEN DR #C/San Jose/1150
174900/5336 MONTEREY HW #1/San Jose/950
174900/7785 GHIRLANDA CT/Gilroy/908
174900/162 MONTE VERANO CT/San Jose/597
172500/906 BELLHURST AV/San Jose/986
170200/555 7 TREES VILLAGE WY/San Jose/801
169900/477 CARPENTIER WY/San Jose/941
169900/5598 JUDITH ST #4/San Jose/798
158900/3640 ADLER CT/San Jose/1017
155500/7755 GHIRLANDA CT/Gilroy/908
154900/131 PUERTO GOLFITO CT/San Jose/1000
149900/3205 KENHILL DR/San Jose/724
149900/7758 CHESTNUT ST/Gilroy/908
139500/7709 MURRAY AV/Gilroy/908
109100/81 CASTLEBRIDGE DR/San Jose/456