Sonoma properties to be auctioned off after real estate investment company's collapse

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Real Estate News

Sonoma County

A real estate holding company that allowed a group of Sonoma properties to lapse into foreclosure has left investors and the city itself with an uncertain future.

On August 8th, the first dozen properties are scheduled to be auctioned off to the highest bidder. The property purchases began very quietly, with dozens of homes being bought, often in off-market sales. They were followed by familiar businesses in the heart of downtown, as the Sonoma Cheese Factory, Cottage Inn and Spa and the Sojourn Cellars tasting room were snapped up as well.

He said he wondered how anyone could get so overextended, so fast.'I don't know what he was thinking, you know? Like...I don't know!' he said, shaking his head.

 

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