With all the focus in the news about Short Sales, foreclosures, bankruptcy, it might feel that these are the only properties out there.
Just sharing with you the local sales numbers in Sonoma County as of 5 minutes ago, all the properties that sold since January 1, 2010:
Total sold properties: 3131. Of these, 1538 were either foreclosure of shortsale. Bottom line, this year so far 50% of all the sales were distressed sales. This is not saying anything about the future but just the plain numbers as of the moment I am writing this.
With the current interest rates at a historic low, the numbers mean that it is a great time to sell property and a great time to buy property.
On a side note: despite what you might think: foreclosures are not always the best deal in town.
Have a great day, enjoy this sunny afternoon!