Why aren’t more houses for sale in Sonoma County? – Santa Rosa Press Democrat
Article from Why aren’t more houses for sale in Sonoma County? – Santa Rosa Press Democrat:

Why aren’t there more houses for sale in Sonoma County?

It is a question homebuyers find themselves asking these days, with new listings at their lowest levels in six years.

The answer involves a combination of forces that are shaping the local housing market. Virtually no new homes are being built in the county. A glut of foreclosure properties left from the recession has been gobbled up by an influx of hungry buyers. And frequent bidding wars are intimidating many potential sellers from looking for a new home to buy, keeping them in their current home.

With inventory so tight, today’s hesitant homeowners aren’t likely worried about selling their properties. Rather, the bidding wars seem to generate fear that the owners who sell won’t be able to obtain a suitable replacement.

“It’s a great time to be a seller. It’s not a great time to be a buyer,” said Robert Lee, who with his wife, Melissa, is trying to purchase a home in east Santa Rosa.

To improve their chances, the couple this month completed the sale of a Rincon Valley condominium that Melissa Lee bought in 2009. By selling and moving into an apartment, the Lees hope they now can make more…………………continues on Why aren’t more houses for sale in Sonoma County? – Santa Rosa Press Democrat
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Tommy Lee Jones cuts price on Florida ranch
Article from WDIV Detroit:

Tommy Lee Jones has cut the asking price for his 55-acre Florida horse ranch by 25 percent.

TMZ reports that Jones bought the ranch in 2002 for $ 2.95 million. He listed the property in 2011 for $ 26.75 million and has recently relisted the ranch for just under $ 20 million

The San Saba Polo Ranch has 48 horse stalls and a regulation size polo field and is surrounded by a lake, waterfall and nature preserve. The main house has four bedrooms and two bathrooms.

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