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Archive for 'Suisun City'
It’s Official: FHA Loan Limits Go Up In Solano And Contra Costa Counties
February 26th, 2009 categories: Benicia, Buying, Contra Costa, Fairfield-Gr Valley, Loans / Financing, Solano, Suisun City, Vacaville, Vallejo
The Dept. of Housing & Urban Development yesterday made official what had been expected after President Obama signed the economic stimulus bill last week: FHA loan limits will return to their 2008 levels.
That means FHA borrowers in Benicia, Vallejo and the rest of Solano County will now be able to take out a $$557,500 loan, instead of the reduced $400,200 ceiling that went into effect Jan. 1.
In neighboring Contra Costa County, meanwhile, the FHA loan limits are again $729,750, up from the previous ceiling of $625,500.
Find The New FHA Loan Limits For The Rest Of The U.S.
RELATED READING
New Loan Limits Coming To Solano & Contra Costa Counties
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Which Cities Lead Solano & Contra Costa In Distress-Sale Home Listings?
February 24th, 2009 categories: Benicia, Buying, Contra Costa, Fairfield-Gr Valley, Foreclosures / Short Sales, Market Update, Selling, Solano, Suisun City, Vacaville, Vallejo
Pittsburg, Antioch, Vallejo, Suisun City and Oakley are once again the distressed property “leaders” in our Solano/Central-East Contra Costa market area, with more than 8 out of every 10 homes for sale in each of those communities either bank-owned (REO) or a short sale.
Those same five cities were at the top of the list back in early January, when I last prepared this report.
Pittsburg again leads the way, with a staggering 93% of its 409 listings either bank-owned (191) or short sales (also 191). A mere 27 listings are being sold by traditional sellers with enough equity to avoid selling at a loss. Read the rest of this entry »
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Solano County’s Weekly Home Activity Reports For The Week Ending Feb. 23, 2009
February 23rd, 2009 categories: Benicia, Buying, Fairfield-Gr Valley, Market Update, Solano, Suisun City, Vacaville, Vallejo
As has been the case for most of the past six or seven weeks, all of the cities in our Solano County market area except Benicia have fewer active listings today than they did a week ago.
For the first time this year, Vallejo is under the 800 mark, with 796 active listings, thanks to a 25-home decrease from a week ago. In the last two weeks alone, Vallejo’s inventory has dropped by more than 5 percent.
Some of the recent decrease, no doubt, has been due to the moratorium on foreclosures, first by Fannie Mae and Freddie Mac and most recently by major banks like Bank of America, CitiBank, and Chase, all of whom agreed to halt foreclosures until early March in order to give Read the rest of this entry »
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Solano County Housing Activity Report For The Week Ending Feb. 16, 2009
February 17th, 2009 categories: Benicia, Buying, Fairfield-Gr Valley, Market Update, Selling, Solano, Suisun City, Vacaville, Vallejo
Our New Weekly Pending-And-Sold Report Debuts This Week…See Below
It was an up-and-down week for Solano County’s real estate listing supply, as Vallejo, Vacaville and Suisun City all saw declines in their housing inventory while the other two cities in our Solano market area either stayed the same or saw a supply uptick.
Here’s a quick recap of this week’s numbers. To see full details, including the number of single family homes, condos/townhomes and week-by-week trends since the beginning of the year, Click Here or on the graphic. Read the rest of this entry »
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Solano County’s Weekly Housing Inventory Report For Feb. 9th
February 9th, 2009 categories: Benicia, Buying, Fairfield-Gr Valley, Market Update, Selling, Solano, Suisun City, Vacaville, Vallejo
Inventory Up Throughout Most Of The County For The First Time In Four Weeks
Aside from Fairfield/Green Valley, this was the first time in four weeks that the other cities in our Solano County market area saw a net increase in their housing inventory.
The change from a week ago:
- Benicia — Up 1%
- Vallejo — Up 1%
- Fairfield — Down 5%
- Suisun City — Up 5%
- Vacaville — Up 1.6%
Despite the increases throughout most of the county, Read the rest of this entry »
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January Gets Off To A Good Start…How Did Your Community Fare?
February 5th, 2009 categories: Benicia, Buying, Fairfield-Gr Valley, Market Update, Selling, Solano, Suisun City, Vacaville, Vallejo
January Home Sales Much Stronger Than A Year Ago Throughout Solano County
January got off to a much better start this year than in 2008, at least if you judge it by comparing the number of homes sales. Whereas 2008 got off to a rather tame start amid softening prices and looming economic worries, 2009 took off right where 2008 ended, with much more robust sales activity, particularly in the county’s most affordable cities.
Last January, for example, there were 164 home sales countywide. This January, there were 153 closed sales in Vallejo alone — further evidence that enough home buyers sense that we’re nearing if not at the bottom of the market. Read the rest of this entry »
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Trend or No Trend? Solano Home Inventory Drops Again — That’s Three Weeks In A Row
February 2nd, 2009 categories: Benicia, Fairfield-Gr Valley, Foreclosures / Short Sales, Loans / Financing, Local Stuff, Market Update, Solano, Suisun City, Vacaville, Vallejo
Solano Housing Market Weekly Update
For the third week in row, the number of active listings fell throughout Solano, with all cities except Benicia again seeing a marked decrease from the previous week.
Suisun City led the way with a 9.5% drop, followed by Vacaville (-6.3%), Fairfield-Green Valley (-6.3%), Vacaville (-6%), Vallejo (-4.6%) and Benicia (-1%).
The raw numbers for this past week:
- Benicia -1
- Vallejo -40
- Fairfield-Green Valley -41
- Suisun City -19
- Vacaville -25
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Inventory Down Everywhere In Solano Except Benicia
January 26th, 2009 categories: Benicia, Buying, Fairfield-Gr Valley, Market Update, Selling, Solano, Suisun City, Vacaville, Vallejo
Weekly Housing Inventory Report
Benicia was the only city in our Solano County market area which saw an increase in housing inventory this past week, putting it almost right back where it was when the year began.
With a net gain of six homes, Benicia’s inventory stands at 105 (70 single family homes and 35 condominiums/townhomes) — a 6.1% increase over last week.
Vacaville saw the biggest decrease with a 5.7% drop (24 homes) from a week ago, followed by Suisun City (-5.2%), Fairfield-Green Valley (-3.0%) and Vallejo (-2.5%).
That’s the second week in a row that all four communities saw a reduction in their housing supply. On the surface, that might seem to be an indication that perhaps the market is reaching its bottom.
However, before you get too excited with the drop in inventory in those cities, keep in mind that Fannie Mae/Freddie Mac have temporarily suspended all foreclosures (see this story) and all four cities have been a hotbed for foreclosure activity.
The foreclosure ban ends Jan. 31, which means that all those homes which normally would have been repossessed between late November and now will likely hit the market in February and March. If that’s true, the decline in the housing supply in Fairfield, Suisun, Vacaville and Vallejo could be short-lived.
To see the full detailed report, click on the graphic or HERE. And be sure to check back weekly; I normally update this custom report every Monday or Tuesday.
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MLS Graph For Solano County Compares Nov-Dec ‘07 with ‘08
January 23rd, 2009 categories: Benicia, Fairfield-Gr Valley, Market Update, Solano, Suisun City, Vacaville, Vallejo
Our MLS today came out with a graph showing how November and December 2008
compared with the same periods in 2007 for Solano County.
The graph pretty much mirrors the report I prepared several weeks earlier — where I compared all of 2008 and with all of 2007 throughout the county. To see that post, CLICK HERE.
As with my Jan. 12 report, our MLS system’s graph also shows sales up but prices down in ‘08. Days on the market was also down in November & December compared to those same months in ‘07.
Our MLS separates Solano County into two parts:
- Southern (Benicia and Vallejo)
- Northern (Fairfield/Green Valley, Suisun, Vacaville, Dixon & Rio Vista
The reports: SOUTHERN SOLANO and NORTHERN SOLANO
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Housing Inventory Down Throughout Solano County This Past Week
January 19th, 2009 categories: Benicia, Buying, Fairfield-Gr Valley, Foreclosures / Short Sales, Market Update, Solano, Suisun City, Vacaville, Vallejo
Weekly Housing Inventory Report
Surprisingly, at a time of year when you’d expect housing inventories to 
start rising again, throughout Solano County, every city in our market area saw a decline in active listings compared to the previous week.
That’s an about-face from last week’s report, when Benicia was the only city that saw a drop (and only by a single listing). This week, Suisun City saw its inventory drop by 12.5%, followed by Benicia (-5.7%), Fairfield-Green Valley (-2.8%), Vacaville (-1.6%) and Vallejo (-0.7%).
It’s possible this is just a one-week blip and that we’ll again see inventory increasing in the coming weeks, as normally happens after the first of the year. But the decrease in inventory could also be due to several market factors.
- First off, there’s a double incentive of record-low interest rates and very low prices, which is bringing many new buyers into the marketplace. So new buyers are entering the marketplace much earlier in the year than normal.
- Secondly, Fannie Mae and Freddie Mac suspended foreclosures from late November through the end of January.
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