What’s the latest headline for the Sonoma County Real Estate market and the more localized Sonoma Valley real estate market? "Skittish buyers are bargain hunting--but the pickin’s are slim."

Sonoma properties are garnering lots of prospective buyer activity and distressed properties---REO’s or bank-owned listings---continue to generate multiple offers.

But the Sonoma real estate inventory of listings priced above $600,000 is light. This, while real estate websites show increasing numbers of hits on listings and very well-attended open houses. Another wave of bank-owned listings is expected soon---in all market segments--- so sales activity is will likely pick up.

However, lurking around the corner is the threat of higher mortgage interest rates. So, Sonoma buyers---unless they are cash buyers ---are in a tricky spot. Do they wait to find the "perfect wine country property" and risk getting hit with higher payments or take advantage of today’s bargain prices and current low rates?

There’s more on interest rates---and last months sales---here in my latest Sonoma real estate report: Sonoma County Real Estate Market Trends.

Not included in the Sonoma real sstate report but worth reporting: February brought an uptick in sales of Sonoma properties priced from $1.4 to $3.5 million. In 2009 there were no million dollar sales in either February or March. We are expecting to see some bank-owned million dollar and multimillion dollar properties appear on the Sonoma Valley real estate market this spring.

Contact me and let’s talk about Sonoma real estate. Contact Me.

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