Sounds about right.  The sensor is bolted to the front
wheel bearing assembly.  You need to remove the front
rotors in order to see and access the sensor.  The wiring
harness for the sensor will be clipped to the upper control
arm, so you can just follow that back to the sensor.  The bolt
that holds the sensor in..is an allen type.  Sorry, can't remember
what size it is.

First check the wheel bearings to make sure you have no
play in the wheel.  Jack the wheels up off the ground and
pull on the wheel at the top and bottom.  If there is no
play on either side, then pull the caliper and rotor off,
take out the sensor, and clean up the mounting area until
you are down to bare metal.  Put a little bit of grease on
the mounting area, install the sensor back in....and see if
the problem goes away.  If not, I would definitely have
it scanned to pinpoint which sensor is bad.  No point in
just haphazardly throwing parts at the thing.  If the vehicle
happens to pull to one side while the ABS is activating, this
will give you a pretty strong clue as to which sensor is
defective.  If the vehicle pulls left, this indicates the right
sensor is faulty...etc.  Because the ABS system is releasing
the brake on the faulty sensor side, often the vehicle will
pull towards the good side, as all the braking is occuring
on that side.  Note: not all the vehicles pull all the time when
this fault occurs.  Hope this helps.

Ian