Sonoma County Real Estate Update
According to a recent article published by Pacific Union, Sonoma County’s 2nd Quarter real estate sales demonstrated a distinct divide between homes over $1 million and those under $1 million. Homes priced between $1-3 million saw an increase in activity of almost 50%. Homes listed under $1 million saw a noticeable decline in sales compared to the same quarter last year. Sellers continue to hesitate when it comes to listing their homes in this price range, afraid they will not be able to find a suitable move-up home.
Because the demand for higher priced homes was very healthy, it helped create the perfect storm for bidding wars: few homes available vs. many interested buyers.
Since the end of the 2nd Quarter, Sonoma County has experienced the “summer slump”, but indicators are pointing to a more robust second half of the year.
If you are looking to get ahead in the real estate coming-boom, Sun Pacific Mortgage is here to help. We offer “not-normal” loans for Borrowers who have difficulty getting approved for conventional financing or for Home Owners looking for a Bridge loan to buy another home before they sell their current house. Give us a call at 707-523-2099.
Visit our Sonoma County website: http://www.sonomacountyhardmoneyloans.com/