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What Bubble, Indeed!

Median household income in Sonoma County is about 60k. The median household should be able to afford the payments on a $180k house.

73.8% of Sonoma County Homes Lost value in Q2.

95.1% of Sonoma County Homes lost value in the past 12 months.

% of Sonoma County Home Purchases that are now underwater (house value worth less than the outstanding mortgage amount)

50.4% of Homes Bought in 2007 are underwater
Median Price: $550,000
Average Price: $656,258

65.9% of homes Bought in 2006 are underwater
Median: $580,000
Average: $673,785

66% of homes bought in 2005 are underwater
Median: $591,000
Average: $674,388

46.9% of homes bought in 2004 are underwater
Median: $499,000
Average: $571,652

22.3% of homes bought in 2003 are underwater
Median: $420,000
Average: $486,498

Percentage of Sonoma County home buyers choosing some form of I/O, Negative amortizing and adjustable-rate mortgages

2003 - 36.8%
2004 - 59.4%
2005 - 69%

Recent Sonoma Valley Courthouse Step Auctioned Properties

Sonoma Valley Sheriff Sale List, as of 8-13-08

Sonoma Valley Foreclosed Properties, as of 8-13-08
69 properties on the "Foreclosed" list. (click picture to enlarge)

Sonoma Valley Notice of Default List, as of 8-13-08
110 properties (click picture to enlarge)

One thing of note... there was an RE agent who used to publish ads in the local paper asking: "What Bubble?" ... That RE agent is on the notice of default list.

This post first appeared on Sonoma Housing Bubble, please read the originial post: here

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What Bubble, Indeed!


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