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Short-Sales set new record for June Sales here in Sonoma County, California

Short-Sales for June 2012 set a record number of closed escrows with  150 here in Sonoma County,California. This is up 27% over LAST year at this time!  Days on the market are also shortening as Bank’s react to new legislation to assist distressed homeowners in disposing of their houses without foreclosure. The total distressed market here in Sonoma County, however, has dropped to only40% of total sales. It had been averaging over 50%. But due to the lack of REO (real estate owned) or foreclosed upon homes, sales of REO’s accounted for only 94 sales in June DOWN 38% over last year at this time. The “equity or regular” Seller is making a big time comeback here in Sonoma County California! BUT look for short-sales to surge higher as the big Attorney General settlements throughout the nation demanded MORE short-sales for homeowner’s in distress.

Record month for Short-Sales 150 for June!


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