REO is the abbreviation for Real Estate Owned by banks and other financial institutions (we’ll just call them banks on this site). We use the term to refer to homes that have been through the foreclosure process that the banks are now actively trying to sell. There are many bank owned properties that aren’t on the market yet, properties that are in the middle of the foreclosure process, and still other properties involved in what are known as short sales (trying to sell the house for less than the amount due on the mortgage(s).) This site is only involved with homes actively being sold by banks.
The heart of the market in 2009 through 2012 was REO listings. Since then, the market has healed to such a degree that days go by between new REO listings. As a result, this site is no longer being updated. Please go to sonoma.net to continue your real estate searching.