Good News Sonoma County, REO Inventories are on the Decline!

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 to note that 52 of these properties have come on the market in the last 30 days.

For more information about Sonoma County REO properties visit my webpage www.socohomegroup.com/reo