Pressure is particularly high for sellers of San Jose foreclosure homes. That is because most homebuyers and investors in this city are concentrated to buying such homes. The housing crisis in the whole of California is continuously posing threats, but San Jose is somehow shielded because of the rising demand and transactions for its foreclosed homes for sale.
A single family house in the city could cost around $863,000. This pricing scheme, although already lowered in reaction to the market re-alignment, has been making for the scarcity of new-home buyers. However, because people need to snap and acquire houses, they are turning their focus to the numerous San Jose foreclosure homes available.
The piling inventory for foreclosed homes in the city is rising, giving an assurance that high demand could be met. The rate of foreclosure is getting high. There is a single home for every 557 houses that are foreclosed in San Jose. As the economic crisis continues, more and more homes undergo foreclosure. This will keep price tags for foreclosed homes for sale very attractive for quite some time.
Aside from the luring and practical prices of San Jose foreclosure homes, it cannot be denied that homebuyers and investors will always consider buying such assets in the city. That is because San Jose is considered one of the most desirable cities in the US. The environment and sceneries are not the only luring factors. There are many business and employment opportunities in the area. San Jose in north California is located in the Silicon Valley area, where several giant technology firms are headquartered like Adobe Systems, eBay and Apple Inc. The city is also declared a very safe one.