EDITOR: Owning 116 properties currently in the Sonoma Valley, Ken Mattson and Tim LeFever are “institutional investors.” LeFever Mattson operate through a tangled web of more than 100 companies and partnerships. Thus far, they have chosen to withhold information from our community about their motives and plans for these properties, a number of which are now unproductive and virtually abandoned.
Institutional/corporate investors represent a growing percent of property owners in Sonoma Valley, across California, and in the nation. By making cash offers and fast-track buying processes, these investors can outbid individual homeowners.
By concentrating so many purchases in Sonoma Valley since 2015, LeFever Mattson have had a significant role in increasing home prices and local rents. They have also helped to lower the real estate inventory for individual homebuyers and the quality of life for nearby property owners. These sales have negative effects in our community.
Are local real estate agents and/or area residents participating in the sale processes to LeFever Mattson? The major reason homeowners sell to institutional investors is because they offer cash, purchase the property “as is” or offer a guaranteed purchase, in some cases before the listing hits the open market. Our community needs access to real estate transaction data such as sales, evictions and foreclosures.
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