In February, I wrote about the low occurrences of REO…bank owned properties…foreclosure properties…in the Mission San Jose area of Fremont. Values in this area are strongly supported by the Mission San Jose School District which is ranked among the highest performing school districts in the state of California.

Now there is a newly listed property that is about a block from Mission San Jose Elementary School that is a foreclosure. Listed for $749,900, it just came on the market yesterday. I have already had the chance to preview the house. Built in 1955, it is listed as a 3 bedroom 2 bath home but you would have to reinstall the walls in the closets separating two of the bedrooms. That is, if you want the occupant of those bedrooms to have closets…and privacy. You would have to see the house to appreciated it. The pictures on the multiple listing service do not tell the whole story. But, that is normal…after all do you expect to see pictures that would make you not want to see the house?

Location, location, location—I bet that this house sells fast because of where it is located. I will let you know.