Sonoma County home buyers have flocked to the REO market this year. The big story is the return of value buyers to the market that started early in the year and strongly continues today. Not every home has buyers beating down the doors to get in their offers, but many do. It pays to be prequalified and ready to submit offers when you are actively searching.
Sonoma County REO Listings by City
This Sonoma County REO listings graph shows listings by month and by city for the first half of 2009. I wouldn’t have guessed that Sebastopol had no new REO listings in May before I looked at this graph. Cloverdale has also had a lot of variety in the number of new listings every month. The totals also tell a tale of a relatively consistent number of new Sonoma County bank owned homes coming on the market each month. The increasing number of buyers competing for a steady number of homes has created the seller’s market for REO properties we are in today.