The worst appears to be over, as far as real estate is concerned in Sonoma County. But the fallout from the burst housing bubble will continue to linger through the year ahead, and perhaps beyond, for both residential and commercial properties.
Within the Sonoma County, real estate market, conditions vary considerably, both by location and by type of property.For example, says Sebastopol real estate agent Norbert Tennenbaum, it is more difficult to buy a condominium right now than a single family home. The significant accomplishment of the Sonoma County real estate market in 2010, says Santa Rosa broker-manager Rick Laws, was regaining stability.
While most attention goes to residental real estate, commercial properties in Sonoma County may be struggling even more, says Santa Rosa realtor Carlos Rivera. But in some of Sonoma County's more desirable communities, property values have held up pretty well, Tennenbaum adds, compared to the larger cities with a high proportion of more affordable homes.