Fremont’s Mission San Jose area emcompasses some of the most sought after homes in Fremont. The Mission San Jose High School and the schools that feed into it are among the highest ranking academically in California. The chance to get a high quality public (free) education helps to drive real estate values in many places and the Mission San Jose School District of Fremont is no different.

This is not the neighborhood where you would expect to find a bank-owned property…an REO…a foreclosed house!!!

Isn’t it funny how we can delude ourselves into thinking that only wealthy people live in certain neighborhoods? The truth is that all kinds of people live in all kinds of neighborhoods. Some home owners in the best (most pricey) neighborhoods have financial difficulties that are the same as those found in many lower priced areas. When you combine (overly) liberal lending with an overheated real estate market there will be those who will make decisions that they will come to regret.

On the other hand, one person’s pain is ofter someone else’s delight. Yea…gross, but true. This particular REO is a 3 bedroom 1 bath home that has been on the market for only one week. I think it will sell quickly.

In fact, I know of another REO in Mission San Jose that is being prepped for sale. It is a very short walk to one of the most sought after elementary schools in the area. It too, will probably sell quickly when it is finally listed.

The law of supply and demand has not been repealed.