reo: Good News Sonoma County, REO Inventories are on the Decline! - 05/05/08 11:42 AM
For the first time in this market, we are seeing a marked reduction in REO inventory.  The number of properties available has dropped from 315 at the end of March to 273 as of May 5, 2008.   In some areas, REO inventories are very low and buyers are finding that they are competing against multiple offers.  I have personally experienced this with buyers in East Santa Rosa and Windsor.  REO inventories have plunged in several areas including Windsor, Petaluma, and West County. 
West Santa Rosa remains the hardest hit with a current REO inventory of 109 homes, and represents 40% of all REO inventory in Sonoma County ... however, its important … (0 comments)

reo: Banks Delaying Foreclosures - another financial market adjustment looming? - 02/24/08 02:34 AM
Is anyone nervous about banking industry plans to delay foreclosures?  Here in Sonoma County, California the number of REO homes for sale is increasing at a rate of 20-30% per month.  In some areas there are so many foreclosures that prices have rolled back to 2002 levels and the banks still can't sell them.  Foreclosure sales are becoming comps which is driving prices down further.  People can't refinance because values have eroded and equity is insufficent.
Now the banks want to delay foreclosures explaining that they are trying to work out other solutions with homeowners.  What is behind this?  Is it truly an attempt to work things … (2 comments)

 

Cindy Brandon

CDPE, EcoBroker, GRI, CRS, ePro

Santa Rosa, CA

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