The first rebuilt home in the unincorporated county area sits among a number of houses under construction on burned lots that were sold by survivors of the October wildfires. The lots’ buyer and the builder, Fairfield-based Silvermark Construction Services, said it plans soon to start pouring two foundations a week on behalf of fire survivors and two more for resale on the lots it is purchasing.
On Thursday, county Board of Supervisors Chairman James Gore presented Owen with a certificate of occupancy and thanked him for “investing in your community.” He said Solano and Sonoma counties were linked and share important ties, including housing one another’s workers.
“Having a completed home is a ray of hope,” said Gore, who represents the Mark West area.
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Photos by Beth Schlanker / The Press Democrat
In an important milestone, the first new home to be completed since the fires in unincorporated Sonoma County was unveiled to the public. As Karl Van Amburg reports, it may be the first, but the home will soon be followed by many more.
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Greg Owen, CEO of Silvermark Fund I LLC, tours a foreclosed home his company bought and remodeled in Santa Rosa, California. Photo by: Press Democrat
In an unprecedented effort to buy and flip distressed properties in Sonoma County, a Vacaville company has purchased more than $15 million worth of foreclosed homes across the county in the past six months.
Blue Mountain Realty, which acquired its first home locally in November, has quickly become the single largest buyer of homes in the county. The company has purchased more than 70 area homes in foreclosure since December.
Blue Mountain seeks to buy the vacant properties, fix them up and sell them at a profit. It is targeting Sonoma County partly because the local economy and housing market seem to be improving -- and partly because it's become more difficult to find foreclosure properties elsewhere in Northern California.
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