The number of homes going into foreclosure in Sonoma County has dropped to its lowest level in five long years. For people buying homes in Sonoma County for the past five years it has been easy pickens. That all seems to be changing… DataQuick, A San Diego-based real estate information service, states that 698 county homeowners received notices of default in the first quarter of 2011. That is down 19 percent from a year earlier and is the lowest total for any quarter since the second quarter of 2007.
What this means for anyone looking for a home is increased competition. Buyers can expect a completely different market in 2012 when looking to buy real estate in Sonoma County compared to a year ago. Many buyers are seeing multiple offer situations on homes for sale in Sonoma County with sold prices over asking.
Most attributed the decline in foreclosures to an improving economy and real estate market, as well as to bank and government policies that increasingly favor short sales over foreclosures.
Also banks appear to be holding back inventory being released into the market with REO agents reporting shrinking inventories. This is great news for homeowners thinking about selling their homes in Sonoma County. If you would like more information regarding the market is Sonoma county check out the Market Insider. The data on this page is consolidated from multiple sources and includes current listings, recent sales, and more. Whether you're a buyer or seller, the knowledge you gain will help put you in control of your real estate transactions. For Complete information regarding foreclosed homes in Sonoma County call Millar and Company at 707-217-1786.
Information regarding real estate in the Russian river valley. Homes for sale in Guerneville, Forestville, Monte Rio, Cazadero and Jenner.
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