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
Here's a great opportunity to learn about what Sonoma County Government and Businesses are doing to fight Global Warming.
Climate Protection: Everybody Profits IV
Friday, May 16, 2008 8:30am to 2:00pm
Villa Chanticleer, Healdsburg
Here's a sampling of topics that will be covered.
For more information go to: http://www.everybodyprofitssonoma.com/
Hope to see you there!
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The Office of Federal Housing Enterprise Oversight (OFHEO) announced a temporary increase to conforming loan limits for loan originations starting July 1, 2007 and ending Dec. 31, 2008.
The government also raised loan limits FHA guaranteed mortgages for loans originated between now and Dec. 31, 2008.
Here are the new limits for Sonoma County:
To view all new FHA Limits, go to: FHA Loan Limits by County
And for proposed limit changes for FNMA and FMAC go to: Fannie Mae and Freddie Mac Proposed Loan Limit Changes
(The above information has not been verified, is not guaranteed and is subject to change without notice).
From time to time I have buyers calling me to try and find homes that have not been treated with pesticides. Usually these people are cancer victims but more and more people are beginning to understand the impact that pesticides have on ourselves and our environment.
If you are concerned about pesticides but don't want ants and other pests you might want to consider talking to Hitmen Pest Control. I'm delighted to say that they are now offering an alternative product they call integrated pest management. Rather than spraying a pesticide barrier around the house, their specialists come out periodically and inspect around and underneath the house treating only where needed. They treat with natrual products like cloves and cinnamon.
If you'd like to learn more, you can contact them at 707-526-6055. If you don't live in Santa Rosa, try contacting your local pest control company. You can also access additional information through the following links:
http://www.recyclenow.org/less-toxic/index.html
http://cesonoma.ucdavis.edu/Integrated_Pest_Management685/
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