Foreclosures quickly becoming a thing of the past here in Sonoma County, California

Sonoma County, California–June of 2013 has seen the ever accelerating decline of the “distressed” real estate market place. The new “Equity” Seller, or what we affectionately now call-“move arounders” because they go up, laterally and down with a new purchase, are NOW the dominate player in our real estate market. The “dark” days of the foreclosure frenzy are behind. A market of 60% “Distressed” homes (Bank Foreclosures–REO and Short-sales) has now shrunk to a paltry 17% of all sales per month in Sonoma County. Equity sellers are a sign of a healthy real estate market. However, with this increase come pricing which is a tad higher than what the market will bear. Hence Days on the Market, though at a super low, is starting to inch up as is the existing inventory. All in all a very healthy and welcomed change in the marketplace. Here’s a look at the latest Foreclosure Activity:

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