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Archive for August, 2009

Just Listed — Gorgeous 2/2 In Steffan Manor

August 31st, 2009 categories: New Listings, Vallejo

FrontWe just listed a beautiful 2 bedroom, 2 bath home in Vallejo’s Steffan Manor. This is truly the gem of the neighborhood, with a magnificent remodeled kitchen, remodeled baths, updated flooring, crown moulding, and more.

The inviting backyard features a large redwood deck and lawn area with a towering redwood tree that provides lots of shade.

But best of all, this 1,270 sq. ft. single story home is priced at only $175,000!

Here are a few pictures to whet your appetite.  Read the rest of this entry »

Written by Rod Herman | Discussion: No Comments »

Weekly Solano Real Estate Report For Aug. 31: Inventory Up In FF & Vaca, Down In Vjo, Suisun

August 31st, 2009 categories: Benicia, Market Update, Selling, Solano, Suisun City, Vacaville, Vallejo

weekly-solano-home-reportAlthough most well-priced homes continue to get multiple offers, the free-fall decline in the county’s home inventory has been moderating a bit in recent weeks.

Of particular note in this week’s Solano County Real Estate Report:

  • Fairfield saw its inventory increase for the third time in the past four weeks. There are 20 more homes on the market today than there were four weeks ago.

Written by Rod Herman | Discussion: No Comments »

Are Short Sales Really Selling In Benicia, Vallejo And The Rest Of Solano County?

August 30th, 2009 categories: Buying, Foreclosures / Short Sales, Selling, Solano

Roll of the DiceAs the inventory of homes has decreased in recent months, short sale listings have become an increasingly larger percentage of the available homes for Solano County home buyers.

And that’s caused more and more buyers to ask the obvious question: Are short sale listings really selling?

That’s a question not only on the minds of buyers, but also something prospective short sale sellers want to know, too. Read the rest of this entry »

Written by Rod Herman | Discussion: No Comments »

First-Time Home Buyer Tax Credit Expires In Just 3 Months…Or Does It?

August 29th, 2009 categories: Buying, The Economy

Tax Credit ExpiringThe $8,000 first-time home buyer tax credit has been a boon to the real estate market — so much so that in today’s multiple-offer market, many first-timers are now worrying that they won’t be able to find a home and then close escrow before the credit expires at the end of November.

That Nov. 30 deadline is  just three months away, which means if you’re not already in escrow on a regular sale or bank-owned purchase, you probably need to be in contract on a home in the next 30-45 days if you want to have a realistic chance of closing by the end of November.

And if you’re planning to buy a short sale, which can easily take 3-4 months to complete, Read the rest of this entry »

Written by Rod Herman | Discussion: 2 Comments »

Weekly Solano Real Estate Report For Aug. 24: Vallejo No Longer Has The Most Listings

August 24th, 2009 categories: Benicia, Buying, Fairfield-Gr Valley, Market Update, Selling, Solano, Suisun City, Vacaville, Vallejo

weekly-solano-home-reportFor the first time this year, a city other than Vallejo has the most active listings in Solano County.

The new leader: Fairfield, which saw its supply increase last week while Vallejo’s dropped yet again. So not only does Vallejo have just the second highest total in the county for the first time in 2009, but only four active listings separate it from Vacaville.

For the record, the current inventory of homes in our Solano market area looks like this: Read the rest of this entry »

Written by Rod Herman | Discussion: No Comments »

Have The Banks Created An Artificial Market?

August 20th, 2009 categories: Benicia, Buying, Fairfield-Gr Valley, Foreclosures / Short Sales, Selling, Solano, Suisun City, The Economy, Vacaville, Vallejo, Viewpoint

This is the second and final part of this post. To read Part 1, click here.

Greedy BankerIn yesterday’s article, I talked about our expectations earlier this spring that hundreds of new bank-owned properties would come on the market shortly after the foreclosure moratoriums were lifted in early spring.

To date, those expectations haven’t come to fruition, which is bewildering, especially when most bank-owned homes continue to attract multiple-offers — sometimes with as many as 30+ offers on one house.

So the obvious question: have the banks really foreclosed on as many homes as we all suspect or have they Read the rest of this entry »

Written by Rod Herman | Discussion: No Comments »

Are We In An Artificial Boom Market?

August 19th, 2009 categories: Benicia, Buying, Fairfield-Gr Valley, Foreclosures / Short Sales, Selling, Solano, Suisun City, Vacaville, Vallejo, Viewpoint

With Hundreds Of REOs Being Held Off The Market, Is The Current Market Boom Just A Temporary Thing?

Wizard

For months now, the local real estate market here in Solano County as well as throughout the entire Bay Area has been getting stronger and hotter.

But nowhere has it been stronger than in places like Vallejo, Fairfield and Suisun, which rank among THE most affordable cities in the entire Bay Area.

It’s a classic supply and demand situation.

On the supply side, if you follow my Weekly Real Estate Report, you know that the inventory has plummeted by about 75% throughout these cities since the first of the year.

And on the demand side, as prices became incredibly affordable, homes in these areas became instantly attractive to an eager Read the rest of this entry »

Written by Rod Herman | Discussion: No Comments »

Weekly Solano Real Estate Report For Aug. 17: Lack Of Supply Starts To Mean Fewer Sales

August 18th, 2009 categories: Benicia, Buying, Fairfield-Gr Valley, Market Update, Selling, Solano, Suisun City, Vacaville, Vallejo

weekly-solano-home-reportAs the inventory of homes continues to shrink in the county’s most affordable communities, you’d expect the number of sales to shrink as well.  And we’re starting to see that here in Solano County.

Last week, Vallejo, Suisun and Vacaville all  had fewer closed sales than their weekly averages for 2009 and Vallejo, Fairfield and Suisun each were below their weekly averages for new pending sales.

All of this suggests that although the demand remains strong, the lack of supply is indeed starting to impact the number of accepted offers in these ultra-affordable communities. Read the rest of this entry »

Written by Rod Herman | Discussion: No Comments »

Vallejo Home Sales Report For July 2009: Full Rundown On Each Home That Sold Last Month

August 13th, 2009 categories: Buying, Market Update, Selling, Vallejo

Vallejo Home Sales - JulyVallejo was again a hotbed of real estate activity last month, with multiple-offers again the order of the day, as Vallejo remains perhaps the Bay Area’s most affordable place to buy a home.

Each month, I publish a complete list of every home sale in Vallejo and Benicia. You can click on the graphic or here to download the full report, which gives details on the selling price, closing date, days on market and cumulative price change from start to finish for every home that closed escrow in Vallejo last month.

Some highlights from that report:

  • There were 221 home sales in Vallejo in July — the exact same total as in June. That represents the second highest total for the year to date. Read the rest of this entry »

Written by Rod Herman | Discussion: No Comments »

Benicia Homes Sales For July 2009: Complete List Of Every Home That Sold Last Month

August 13th, 2009 categories: Benicia, Buying, Market Update, Selling

Benicia Home Sales - JulyEach month, I publish a complete list of each home that sold in Benicia and Vallejo the previous month. Here’s the complete rundown on Benicia for July, 2009.

A few highlights:

  • There were 30 closed home sales in Benicia last month, which is the highest monthly total for the year.

Written by Rod Herman | Discussion: No Comments »

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