Foreclosures… it might feel that every home sold must be a foreclosure. But all real estate is local and despite what you may think we have a pretty consistent real estate market in Sonoma County. About 50% of the sales are regular sales -YES- and the other 50% is sort of equally divided by REO (foreclosures) and Short Sales. In the stat below, the ‘sold bank’ also includes short sales. This is not totally correct since a short sale is not a bank owned sale, but that’s how this company, (Terradatum) decided to call it.
And what does this mean for you?
That the market in Sonoma County is not as bad as you think it is, that it is a great time to sell and move up and most of all that it is a great time to make the move you have been wanting to do for so long. We do not have a whole lot of inventory, right now I would like to see about 500 more homes on the market in Sonoma County…
And as a bonus: THE MORTGAGE INTEREST RATES ARE STILL AT HISTORIC LOWS!!! This won’t last that long, take advantage of of. Should you need a referral to a great lender, just call me: 707-486-2638. Depending on your plans I have a few great people I work with and consistently do an excellent job.
Enjoy the weekend, it’s a great time to do that hike and enjoy the outdoors, Sonoma County is beautiful!
Mirjam