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Sonoma County market statistics for March 2008

By Hans Bruhner

Mortgage and Lending with First Priority Financial NMLS #243484

March 31, 2008 06:30 PM

Some interesting statistics about the market right now for Sonoma County CA as of March 14th, 2008. My appraiser put these numbers together for me to get an idea of what is going on in each section of western Sonoma County (basically, along the hwy 101 corridor).

A short sale is when a seller plans to sell a home for less than what is owed on the home and the bank agrees to take less than what they are owed.

An REO is a home being sold by a bank's Real Estate Owned department. The banks only own real estate after they have foreclosed on a home.

Santa Rosa

Area	Total Listings	Short Sale/REO's/Defaults	% of Market
NW Santa Rosa	356	229	64.3
NE Santa Rosa	327	76	23.2
SW Santa Rosa	222	166	74.8
SE Santa Rosa	182	73	40.1

West County & Coastal

Area	Total Listings	Short Sale/REO's/Defaults	% of Market
Sebastopol	91	11	12.1
Russian River	97	16	16.4
Coastal	51	2	3.92

Other Areas:

Area	Total Listings	Short Sale/REO's/Defaults	% of Market
Petaluma East	157	77	49.2
Petaluma West	114	22	19.3
RP/Cotati	233	132	56.7
Windsor	149	70	47.0
Cloverdale	58	27	46.6

I like cold hard facts and this will show you exactly what is going on with listing on one given day. This was sent to me by my appraiser. He pulled the information from the BAREIS MLS.

Please contact me if you have specific questions regarding real estate.

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Dave Roberts

Healdsburg Sotheby's International Realty - Healdsburg, CA

Very interesting. I'm surprised by how low the west County numbers are overall, but Santa Rosa and the rest of the county match what I have been noticing. It's a good time to be looking for a bargain, but a really tough time to list your own property if you have to move, lost a job, etc. A lot of competition is going on to be the market leader.

Apr 01, 2008 02:28 AM

Anonymous

Pete Deatherage (Appraiser)

One thing I've noticed is that the more unique your home or area (unique in a good way) the better chance you have of selling your home. The biggest areas of decline have been in the lower value homes. Homes over $1,000,000 have only 2% in default. This market is really hurting the little guy.

Apr 01, 2008 03:36 AM

Mary Anne S. Daly

Stearns NMLS #232164 CA BRE #01380812 - Mill Valley, CA

Queen of the Loan & Radio Broadcaster

Wow, amazing to see these numbers. Excellent breakdown of the Sonoma market. Thanks for posting this, Hans!

Apr 02, 2008 05:59 PM

Steven Ogletree, Inspector (National Property Inspections)

Thanks for the numbers Hans, that is a lot of bank owned property out there. Could anyone tell me roughly what percent of these homes are having unforeseen structural or mechanical problems show up during the escrow period causing the new buyer to drop out of escrow ? It seems as though there is a lot of that going on out there.

Jun 03, 2008 01:49 PM

Hans Bruhner

First Priority Financial - Sebastopol, CA

Sonoma County Home Loans

That is a great question and I have to say that I have no idea about the fall out. I do have several clients that have not gotten homes they were going after because of the bidding competition. I have recently had a client who backed out of 2 different homes after getting the home inspection. Steven, as the loan officer, I am not involved in picking the home inspector.

Jun 03, 2008 02:02 PM

Sonoma County market statistics for March 2008

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