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Any Light At The End Of The End Of Solano’s Foreclosure Tunnel?

Rod Herman — Wed, 17 Feb 2010 23:38:09 +0000

Everyone agrees that the real key to restoring the economy and home values lies in working through that huge backlog of distressed properties.

For, the sooner we get to a point where the lion’s share of active listings are being sold by regular sellers with equity rather than banks or upside-down borrowers, the sooner this ugly market will be behind us.

About six months ago, I downloaded the foreclosure statistics for all five cities in our Solano County market area and back then almost 60% of what had already been foreclosed upon had not yet come on the market. Most banks were keeping what has become known as their “shadow inventory” off the market.

Since that time, the banks have started to release more inventory, but rather than a flood, the release of new bank-owned listings has been more of a trickle. So a few days ago, I decided to download the raw foreclosure data and see if anything had changed.

In a nutshell, as the numbers above and below illustrate, it looks like we still have quite a way to go before the local housing market in Benicia, Vallejo, Fairfield, Suisun and Vacaville finally returns to normal.

Here are a few statistics that will give you a sense of what lies ahead:

As of Feb. 15, there were 2,055 already-foreclosed homes in those five Solano cities. Yet, a startling 69% of those (1,425) have yet to come on the market. So that shadow inventory has actually grown by 11% since my August report.

2,186 more homes are now in the final stages of foreclosure and could turn into new REOs within a matter of days or weeks.

And another 2,422 homes have had a notice of default recorded against them, which means that they’re between 1-4 months of being foreclosed upon, too.

Add in the 240 REOs that were actually on the market as of Feb. 15 and that means there are now almost 6,300 homes in Benicia, Vallejo, Fairfield, Suisun and Vacaville that are either unsold foreclosures or heading that way.

To put that number in perspective, consider how long it would take to work through 6,300 listings, based on the average weekly sales activity for those five cities.

I track those numbers in my Solano Weekly Housing Report and based on this year’s average weekly pending sales figures, it would take anywhere from 13.5 months to 16.6 months just to exhaust what’s presently on the market or in the foreclosure pipeline in those five Solano cities right now.

And that doesn’t include all those people who are behind on their payments but haven’t yet had a notice of default recorded. Nor those who are upside-down on their mortgage and might soon find themselves forced to sell due to one of life’s many unavoidable circumstances.

It also doesn’t include those “regular” traditional sellers who aren’t selling out of necessity (remember them?).

If you’re looking for some positive news or perhaps a ray of light, as the above chart shows, the number of properties where a notice of default (NOD) had been recorded actually went down since August. Meanwhile, the number of trustee’s sales went up.

Since the foreclosure process starts when an NOD is recorded and finishes when a trustee’s sale is completed, it’s always far better to see fewer homes at the beginning of the process than at the end, which is what the above numbers show.

So maybe those numbers are the first signs that we’re indeed starting to work our way through the foreclosure doldrums. But then again, a few months from now we might find that things have reversed themselves again.

In any event, as these numbers clearly illustrate, though the market itself seems to have stabilized, we’re by no means out of the woods just yet.

From here, it looks like we still have quite a ways to go before that pipeline really starts to dry up.

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Jan. 2010 Vallejo-Benicia Recap: Details On Every Home That Sold Last Month

Rod Herman — Sun, 14 Feb 2010 18:44:44 +0000

One of the regular features of this blog is my monthly Benicia and Vallejo Home Sales Reports, with full details on every home that sold in Benicia and Vallejo the previous month – a “tale of the tape” of sorts.

If you want to see how much every home sold for last month, the Jan 2010 Benicia-Vallejo Home Sale reports show not only the address, closing date and sales price, but also the square footage, bedroom/bath count, how long it was on the market, and whether it was a regular sale, short sale or REO (foreclosure). I also calculate the net price change between the original list price and eventual selling price.

Every month, there are always a few eye openers. For example, last month, two homes in Vallejo sold for less than half of their original asking price, including a home on Georgia St. that started out at $349,900 and eventually sold for $159,000 — a whopping $199,000 price drop.

To see the full report, with home-by-home totals for January, 2010, click on either of the two buttons below.

Here are some highlights from those reports:

The lowest sales price in Benicia last month was $104,800 for a Bay View Villas condo on Southampton Rd. The highest was $744,000 for a single family home on West C St.

Vallejo’s low was $42,000 (a condo on North Camino Alto) and it’s high was a home on Landmark St. in Hiddenbrooke that sold for $460,000 ($55k above its asking price).

Out of Vallejo’s 139 closed sales, 83 were REOs and another 28 were short sales. So 4 out of every 5 Vallejo sales was a distress sale.

In Benicia, exactly half of last month’s 24 sales were distress sales.

The biggest net price drop in Benicia in January was on a home on Townsend Dr., which sold for $126,900 less than its original asking price.

The longest sales period between the two cities was for a home on Valle Vista in Vallejo that took almost a full year (361 days) to sell.

35 of Vallejo’s 139 sales (25%) sold in 10 days or less. In Benicia 20% (5 out of 24 sales) sold that quickly.

Be sure to download both the Jan 2010 Benicia Home Sales Report and the Jan 2010 Vallejo Home Sales Report for full details on every home that sold last month. To see the same report for previous months, click on the links below.

If you have questions on any of these properties or would like information on what’s currently available, please contact us or visit our Home Search page to search our multiple listing service. We’re always happy to set up customized automated MLS searches for our clients and prospective clients.

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January Monthly Home Sale Report: Solano Sales Activity Hits 20-Month Low

Rod Herman — Mon, 08 Feb 2010 07:35:42 +0000

But The Median Price Is 7% Higher Than Last January

I just compiled January’s Solano County Home Sales Report and while prices were down slightly, the big news, as the headline indicates, was that Solano’s overall sales totals dropped dramatically last month, to their lowest level in well over a year.

County-wide, Solano totaled 389 home sales last month, compared to 520 in December — a 25% drop. The last time there were that few monthly sales in Solano was May, 2008, when there were 384 sales. That was 20 months ago.So the big question, of course, is whether this decline is due to

a) the still-low inventory;
b) the traditionally softer holiday period (most contracts accepted during the holidays usually close in January); or,
c) an actual drop in demand due to a market-shift.

As I’ve cautioned before, statistics for a single month aren’t usually as reliable as a quarterly report. So subtle differences from one month to another aren’t always a true indicator of what’s really happening in the marketplace.

But when you see a drop-off as large as we saw in January, it certainly causes you to stand up and take notice.

Accordingly, I’ll be very interested in seeing what happens in February and March, for if the number of sales remains as low as it was in January, we could look back at January as the beginning of yet another market shift — particularly if the inventory continues to increase as it has in recent weeks.

Though, my guess is that January’s low sales numbers aren’t really the result of a market shift, but rather due to several different factors:

1) The first-time buyer tax credit was originally going to expire at the end of November, which likely caused some people to buy early enough so they could close by the end of November. Some of those buyers would have otherwise still been in the market and ready to buy in December.

2) Many of the REOs and short sale lenders likely had strong incentives to close as many sales as they could by the end of the year so they could report those losses in 2009. So some end-of-December closings probably would have normally closed in early January.

3) Many buyers typically put their home shopping activities on hold during the holidays, which traditionally means fewer closed sales in January.

4) With low inventories and fewer new listings that month, buyers who were still actively looking had fewer housing choices in December.

Along with the drop in total sales, the median sales price for Solano County was down, too. The January median sales price was $205,000, which is 5% lower than it was in December ($215,000).

Yet, 3 of the 5 cities in our market area actually saw their median prices increase from December to January.

Benicia was the big winner in that category, with a 24% rise ($420,000 in January, $340,000 in December). The other cities on the plus side were Vacaville (+4%) and Vallejo (+1%).

But before you get too giddy over Benicia’s $80,000 rise in its median price in one month, remember that there were only 24 total sales there last month. So it’s possible the numbers may have been skewed by just a few random sales.

To see the data for each city in our Solano market area, download the full Solano County Home Sales Report for January, 2010.

A few other highlights from that report:

The highest sales price in January was $927,000 (Vacaville). The lowest was $36,000 (Fairfield).

Solano County’s median price was 7% higher this January than in Jan. 2009. ($205,000 this year vs. $192,000 a year ago).

The median price compared to Jan. ‘09 was up in Fairfield (+25%) and Vallejo (+12%) but down in Vacaville (-11%), Benicia (-7%) and Suisun (-2%).

The percentage of distress sales was fairly similar to what it was in December for most cities in the county. Benicia, which had soared from a lower-than-normal 37% in November to a higher-than-normal 73% in December, was back down to 54% last month — close to what it’s been for most of the past six months.

Please contact us for more information or details on these statistics, To see every home that’s presently available on our MLS (in any city in Solano County), visit our Home Search page.

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Weekly Solano Real Estate Report For Feb. 1: Vallejo, Benicia Inventory Way Up In January

Rod Herman — Thu, 04 Feb 2010 08:13:20 +0000

More Like A Normal January; A Sign Of Things To Come?

The first month of 2010 is now behind us and judging by the week-to-week performance over the first 30 days of the new year, we may be seeing further signs that a more normal real estate market could be on the horizon.

Last year, of course, was anything but normal. Instead of starting low and building up over the first four months of the year, the local Solano County housing supply started out the year sky-high and then diminished dramatically as the spring evolved.

Inventory Up Everywhere But Suisun

This year, however, things have started out more like a typical year — at least if you go by what we’ve seen over the first month. Four of the five cities in our Solano County market area all saw their inventories grow in January — and by a rather healthy margin, too.

And that’s a good sign, for it’s an early indication that 2010 may at last follow a more typical housing activity pattern.

The housing supply in both Benicia and Vallejo grew by more than 20%. Fairfield was up 11% and Vacaville up 8.5%. The only city that saw its supply drop was Suisun, which inexplicably experienced a 12% decline.

Vallejo’s Inventory Finally Tops 300

Vallejo was the big story, though, where the inventory of active listings topped the 300 mark this week for the first time since last June. Just four weeks earlier, there were 242 homes on the market in Vallejo. Today there are 303. That’s a 25% increase!

Benicia’s overall inventory went from 80 to 96 over that same period — a 20% rise. That’s only the second time its been that high since last June. The previous time was in mid-September.

Sales Activity Remains Strong, Too

Even though the inventory grew last month, sales activity remained high, too. For the year, Vallejo is averaging 38 new pending sales a week, followed in order, by Fairfield (27/wk), Vacaville (17), Suisun (9) and Benicia (3).

Now, I’ll couch all of this with a reminder that we’re only talking about a single month. So 4-6 weeks from now, we could be singing an entirely different tune. But if sales remain strong and the inventory continues to climb as spring approaches, then we might really find that we’re back in a typical real estate pattern after all.

To see the full city-by-city statistics, with week-by-week and monthly breakdowns of the local housing inventory, plus weekly sales activity for each city, be sure to download our full Solano County Weekly Real Estate Report.

We track these statistics every week and publish this report several times each month. So be sure to check back regularly — or subscribe by email or Feed reader and receive these updates automatically.

If you’d like further details on any of these Solano real estate statistics or are interested in buying or selling in this area, please contact us and we’ll be glad to assist you. To see the current inventory of homes in any city in our Solano market area, be sure to visit our Home Search page.

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How Much Did That Benicia or Vallejo Home Sell For In December?

Rod Herman — Tue, 26 Jan 2010 06:14:29 +0000

They say that curiosity killed the cat. But when it comes to finding out how much that home down the street sold for, I think almost everyone has a little curiosity in them.

It’s just human nature to want to get the ‘inside scoop.’

So to satisfy that curiosity, every month I post a list of every home sale in both Benicia and Vallejo.

Wonder how much a particular home sold for? Or how long it was on the market?

Curious how much a particular seller had to drop his price before getting a sale? Care to know whether a certain home sale was an REO, short sale or regular sale?

Answers to all those questions and more are just a click away, in the December Benicia Home Sale Report and Vallejo Home Sale Report.

As the graphic above illustrates, you’ll find the following information for EVERY home that closed escrow in December in Benicia and Vallejo:

Address
Bedrooms, Bathrooms, Square footage
Days On The Market
Original List Price
Final List Price
Final Sales Price
Net Price Change From Start To Finish
Close Of Escrow
Sale Type (REO, Short Sale, Regular Sale)

To see the full report, with home-by-home totals for December, 2009, click on either of the two buttons below.

Here are some highlights from those reports:

Benicia

The lowest sales price was a condominium on Southampton Rd., which sold for $79,000. The highest sales price was a home on Kearney Dr. that closed at $638,000.

The longest time on the market was for a short sale on a condominium on Cambridge Dr. in Southampton. It took 440 days to sell. The quickest sale was for a condo on Shirley Dr. in Bridgeview Hts., which sold in 4 days.

15 of Benicia’s 26 sales closed for less than their original asking price. The biggest cumulative price drop was for a condominium on Sunset Circle which started at $272,900 and sold for $155,000 — a $117,000 price reduction.

Vallejo

The least expensive home in Vallejo last month was a condo on No. Camino Alto, that closed at $35,900, while the highest sales price was for a home on Sealion Pl in Glen Cove, which sold for an even $500,000.

Five of the 151 Vallejo home sales sold in 2 days or less, including a home on Rosewood Ave., which went into contract the same day it came on the market. The longest sales period was 405 days, for a home on Bennington Dr. in Hiddenbrooke.

53 homes sold for less than their starting price, but 83 sold for more than their original list price, which is another sign that the worst may finally be over for Vallejo.

The biggest price increase was for a home on Landmark Dr. in Hiddenbrooke, which sold for $51,000 more than its starting price. At the other end of the spectrum is the same Bennington Dr. home from the previous paragraph. It sold for $145,000 less than its original asking price.

To see this month’s complete Solano County statistical breakdown, be sure to also read the December 2009 Solano Home Sales Report. To see previous monthly reports for Benicia or Vallejo, click on the links at the bottom of this page.

And, if you’re in the market for a home or thinking of selling, we’d love to assist you. Just click the contact form and we’ll be happy to get in touch with you right away. Also, be sure to visit our Home Search page for current home prices…right from our MLS system.

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December 2009 Monthly Home Sale Statistics For Solano County

Rod Herman — Mon, 25 Jan 2010 06:42:16 +0000

I’ll preface the December 2009 Solano County Home Sale Report with the same disclaimer that I use every month: the smaller the sample size, the greater the chance for the numbers to be skewed.

That’s why quarterly statistics usually are a better gauge of just where the market is really heading.

Nevertheless, if you look at the housing numbers month by month, you can see developing trends much sooner than if you only look at things every 3 months.

So I always track Solano’s home sale statistics on a monthly and quarterly basis.

December is always a busy month when it comes to housing statistics, since it’s also the end of the 4th quarter as well as the end of the year. So it usually takes a little longer to compile all the data. (How’s that for a shameless excuse as to why it took until the 24th of January to get these figures on-line!)

Okay, so onto December’s numbers. Be sure to download the full 3-page Solano December Home Sales Report for full details on how every city in our Solano market area fared last month.

Median Price

In a nutshell, the median price for Solano County in December ($215,000) dropped 2% from what it was in November ($219,000). But the median price was higher than November’s median in both Fairfield and Suisun.

Vallejo’s median price took the biggest drop — from $178,175 in November to $155,000 in December. But that December figure was still the second highest of the entire year.

So it’s not that Vallejo really lost much ground in December; rather, November’s total was probably just abnormally high (hence my disclaimer at the top of this post).

Distress Sales

The percentage of distress sales to regular sales in most of the cities in our Solano market area remained fairly similar in December to what they had been in the previous 3 or 4 months.

Benicia though was a noteworthy exception, though, with 75% of its December closings either REOs (bank-owned) or short sales. That’s twice what it was in November and is its highest percentage since March.

But since Benicia only had 26 total closed sales, the numbers could have been skewed — especially since many short sale lenders or REO asset managers may have been motivated to close their sales before 2009 expired.

Nevertheless, since Benicia had been reporting the lowest percentage of distress sales in the county month-in and month-out, this sudden turnabout will be something to keep an eye on in the coming months.

December ‘09 vs. December ‘08

One statistic that gives you a good perspective on whether anything’s really changed in recent months is a comparison with the same period a year ago.

Countywide, the median sales price for December ($215,000) is actually 8% higher than it was in Dec. 2008. But much of that increase can be attributed to Fairfield/Green Valley — which reported a median price 22% higher than a year ago.

The other cities in our market area all had a median price lower than in Dec. ‘08: Benicia -11%, Suisun -3%, Vacaville -16%, Vallejo -1%.

But even though its median price was down, Vacaville led the way with the biggest increase in the number of sales with a 22% increase over Dec. ‘08.

Benicia also reported more sales this year than the previous December, while Fairfield, Suisun & Vallejo all had fewer sales than a year earlier. Vallejo’s total was down 32% and Fairfield was down 23%.

The full 3-page Solano Monthly Home Sale Report for December has all sorts of charts and comparisons — enough numbers to satisfy even the most avid number cruncher.

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Quarterly Solano Housing Statistics — 4th Qtr Numbers For Each City In Our Market Area

Rod Herman — Mon, 25 Jan 2010 05:47:08 +0000

If you’ve been sitting by your computer wondering when the final housing numbers for the 4th Quarter of 2009 would be released, today’s your lucky day.

To see how each city in our Solano County market area fared last quarter and also how those numbers compare with a year ago, be sure to download the full Solano County Quarterly Housing Report.

Some highlights from that report:

The median sales price was $205,450 county-wide. In Q4 of 2008, it was $221,500. So that’s a one-year drop of 7 percent.

Vacaville showed the biggest price drop from a year ago (-14%), followed by Vallejo (-11%), Benicia (-9%), Suisun (-7%) and Fairfield (-4%).

The total time on the market dropped substantially in the past year, as every city in the city reported quicker sales than a year ago. The leader in that category was Vallejo, where the average days-0n-the-market was down 36% since Q4 of ‘08.

If you compare the Q4 report to those from Quarter 2 and Quarter 3, you’ll find that every city in our Solano market area has a higher median price today than it did in the 2nd quarter and Fairfield, Suisun & Vallejo — cities which saw the greatest home value decline — also surpassed their 3rd quarter median sales price numbers. Benicia and Vacaville’s 4th qtr numbers, while higher than Q2 were lower than Q3.

With fewer available homes on the market later in the year, while the banks held onto their REO inventory, I expected the number of sales in those cities most impacted by distress sales would be lower than in previous quarters. So it’s really not surprising that Vallejo had 157 fewer sales than in Q2 and 131 fewer sales than in Q3.

If you’re in the market for a home or are thinking about selling, we’d love to assist you. Just click the contact form and we’ll be happy to contact you right away. Also, be sure to visit our Home Search page for current home prices right from our MLS system.

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Housing Inventory Up Again In Vallejo Last Week; Benicia, Fairfield & Vaca, Too

Rod Herman — Wed, 20 Jan 2010 06:54:11 +0000

All trends have to start somewhere, don’t they?

Last week, Vallejo’s inventory jumped 16%. And this week, it was up another 6%. That’s a 23% increase in just two weeks — from 242 to 299.

Benicia was up 7.3% this past week, boosting its supply to 88 active listings.

Elsewhere in the county, Fairfield was up 5.4% and Vacaville was up 4.8%. Suisun was the only city in our Solano County market area where the inventory dropped — although that decrease was only by a single home.

Download This Week’s Solano Real Estate Report

But the biggest news is still Vallejo — where the inventory hasn’t been this high since mid-June of last year.

You have to go all the way back to June 15, when there were 322 homes on the market, to find a week with as many homes on the market in Vallejo as there are right now.

All told, Vallejo had 53 new listings last week, but after taking account the newly pending sales for the week, there was a net gain of 18 new listings. Of those 53 listings, almost half (23) were REOs. Another 19 were short sale listings. And the remaining 11 were traditional “fair-market” sales.

So we definitely are starting to see at least a gradual increase in foreclosure listings, which we’ve been expecting for many months now. I wouldn’t call it a flood of listings, but rather a small trickle.

Whether this trickle will gain momentum and turn into a steady flow is still anyone’s guess. This could still just turn out to be a short two or three week blip on the radar.

Or it could turn out to be the beginning of a longer-range increase in the local housing supply.

Be sure to check back next week for another installment in this potentially emerging story.

Our Solano County Weekly Real Estate Sales Report appears regularly at HomeSection.com. Be sure to download the current report to get week-by-week details on every city in our Solano County market area. And, for the complete report for 2009, click here.

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Did Somebody Change The Water In Vallejo? Check Out This Week’s Real Estate Report

Rod Herman — Tue, 12 Jan 2010 06:33:35 +0000

The new year is barely a week and a half old and already we’ve come upon our first head-turning moment.

If you’ve been following our blog on a regular basis, you know that the inventory throughout Solano County dropped steadily last year — as Vallejo and Suisun City each shed over 70% of its inventory between January and December…with Fairfield and Vacaville not far behind that pace.

Well so far this year, Benicia, Fairfield, Suisun and Vacaville have all seen their inventories of available homes for sale remain pretty close to where they were when 2009 ended.

But Vallejo was a completely different story last week, as its inventory soared — yes that’s Soared with a capital “S”. With a gain of 39 active listings between Jan. 4 and Jan. 11, the increase was almost twice the highest single weekly gain (21) for all of last year.

So when I downloaded the data and saw such a huge one-week increase, I had to run the search a second time, just to make sure I hadn’t make an input error. It was indeed correct — 205 single family homes and 37 condos/townhomes on the market a week ago and 241 & 40 this week.

That works out to a 16% increase in just one week .

Yet in 2009, Vallejo’s inventory climbed only 11 times all year…and never by more than 8%.

So with such a huge increase in Vallejo, I expected to see a similar rise at least in Fairfield and Suisun — two other Solano County communities that, like Vallejo, have had a very high number of distress-sale listings.

But Fairfield saw its inventory drop by 2 active listings last week and Suisun’s inventory stayed just where it was the week before. The other two cities in our Solano County market area were also about the same: Vacaville was -1 and Benicia +2.

So why the sudden change in Vallejo? As today’s headline suggests, did somebody change the water there last week?

For the record, Vallejo had 61 new listings on the MLS last week, but when you take into account the number of homes that went pending last week, it had a net gain of 39 active listings compared to the week before. Of those 61 new listings, 25 were REOs, 17 were short sales, and 19 were regular fair-market sales.

Could it be that we’re on the cusp of the long-awaited influx of more bank-owned properties on the market? If that was the case, you wouldn’t expect the banks to release their REO properties in only one city. You’d expect to see the same thing happening in Fairfield, Suisun and even Vacaville.

So again, why the sudden increase in Vallejo? To be honest, it’s a real puzzlement right now. But you can be sure I’ll be anxiously waiting for next week to see if things even themselves out or if we’re really at the beginning of an increase in the housing supply.

I tend to think that it’s just a one-week aberration and that things will even out over the next few weeks. If you’re as curious to see what happens as I am, be sure to check back next week, when I’ll post the results for the coming week.

Our Solano County Weekly Real Estate Sales Report appears regularly at HomeSection.com. Be sure to download the current report, for week-by-week details on every city in our Solano County market area all year long. And, for the complete report for 2009, click here.

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Solano County Weekly Real Estate Report: Final Housing Supply Totals For ‘09 Right Here

Rod Herman — Fri, 01 Jan 2010 01:58:26 +0000

Normally, I post my weekly Solano Real Estate Report on Monday or Tuesday, but since New Years Eve falls on a Thursday, I decided to wait until today to post the final home inventory numbers for 2009 — so we can see just how far the supply of homes dropped from start to finish this year.

Today, I’m going to concentrate primarily on the Jan-Dec. totals. So if you want to dissect the raw week-to-week numbers, please be sure to download the full report.

All the housing inventory statistics are there for every week of 2009 and for each of the five cities in our Solano market area. There’s also a separate chart that details the weekly number of pending and closed sales on a week-by-week basis, too.

When you think about where we were a year ago and where we are today, the changes are really quite remarkable.

Last December, nobody knew when the market free-fall would end. Everyone was still anxiously waiting for the shift in power at the White House and wondering what plans Pres. Obama had in store for jump-starting the economy.

When you’re looking at the number of active listings, January 12 was the high-water mark for the year for every city except Benicia. As you can see from the two charts below, the difference between the number of homes that were available in January and the supply of homes on the market today is absolutely mind-boggling.

Nobody could have predicted anything close to what actually happened.

For the year, two cities — Suisun and Vallejo — each saw their housing supplies drop by more than 70%. That’s right just about 3/4 of the inventory that existed in those two cities in early January has disappeared.

Here’s how each city fared in terms of percentage:

As I said, if you look at the week-by-week numbers you can pretty much see just how the market went from the recessionary doldrums to an out-and-out frenzy in just a matter of months.

I published this report every week in 2009. For 2010, I still plan to track the results every week. But since it’s harder to see any real significant changes from week to week, I may only post the results once or twice a month in the coming year.

I still haven’t exactly decided just how often to publish these weekly stats next year. Guess that’s something I’ll have to decide in between football bowl games tomorrow.

Time to close the book on 2009.

See you in 2010…Happy New Year!

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http://homesection.com/2009/12/28/benicia-vallejo-fha-buyers-get-a-6-week-reprieve-on-new-appraisal-rules/