Open House Alert – 712 Daniels Ave

I will be holding open 712 Daniels Ave in Vallejo today from 1-3pm

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Exclusively listed by Richard Peterson and offered at $350,000

Awesome opportunity for an investor or first time home buyer! Two blocks from the water, parks and schools. Near the ferry, Mare Island, 37 & I-80. Spacious kitchen and family room with a formal dining/living room combo.

712 Daniels Ave, Vallejo – Just Listed

Quaint, 4 bed & 2 bath town home close to Mare Island and the Ferry Building. Boasting over 1500±sf, this 2 story condo has it all. Spacious kitchen opening up into one of two living areas. There is a large, combined formal living and dining room off to the left as you walk through the door. Creep up the stairs to 4, ample-size rooms with a master suite off to your right. This home is perfect for the first time home buyer.

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There will be an open house on Sunday from 1 – 3pm.

Vallejo January Market Roundup

Vallejo continues to be one of the hottest markets in the country and why not. Investors are going in and rehabilitating older homes so that the sparkle once again. It continues to be an appealing destination for Millenial first time home buyers working in San Francisco or the East Bay.

Inventory continues to be a problem but it isn’t falling which is good news. Median sold price is up 17% from last January.

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It remains to be seen whether or not the current stock market correction will have unexpected ripple effects on the lower price points. My biggest concern is that the correction will make move-up buyers even more wary as there are fewer and fewer homes on the market in the upper end.

There’s a lot to be excited about the future of Vallejo and that message is starting to kick up additional interest. Large swaths of the areas West of I-80 are architecturally interesting, particularly in the Heritage District, St. Vincent’s Hill and downtown.

The city is continuing to transform itself with a burgeoning art scene (check out the 2nd Friday Art Walk each month!) and food scene – if you haven’t checked out the League of Chefs shame on you. All of these add up to a bright future and continue strong increase in housing prices.

6302 Pebble Beach Dr – Open House 1/21 – 1-4pm

I’ll be holding 6302 Pebble Beach Drive, Vallejo open from 1-4pm today. Nestled up against the Blue Rock Springs Golf Course at the top of Vallejo, this 4 bedroom, 3 bathroom, 2400± square foot home has views across the golf course from the master bedroom. It has 3 full bathrooms, including one across from the downstairs bedroom. The home is offered at $589,000.

Exclusively listed by Lisa Minczeski with our office at BHHS Green Valley. Can’t make it to the open house? Contact me to make an appointment today: (707) 853-0797 | rich@napasolanohomesforsale.com

Are we in for another housing burst?

I get that question at least once or twice every single open house. Short answer is I don’t think so. The longer answer is always a little more complex. No, we aren’t in for another housing collapse but we are headed straight for another housing crisis…or as one editorial put it: “housing catastrophe.”

It is possible – especially here in the Bay Area where there are myriad high paying jobs in a variety of professions – that home prices will continue to rise. It is possible that agents…good agents…in an attempt to win every possible advantage for their client will continue to write offers without appraisal contingencies or without inspection contingencies. It is possible that we will continue to see 8-10 offers on beautiful homes under $400,000 until there are no more homes under $400,000.

The money and solid loans are there for the market to continue to shoulder the craziness that is this year’s spring market…but in no way, shape, or form is this a healthy market. American Canyon home prices were up 17% year-over-year. It is on the slow march to pre-recession prices.

The Vallejo real estate market is also on the rise. Realtor.com has it as the hottest market in the country for the 4th month in a row.  It deserves it too! Vallejo is slowly re-imagining itself with it’s second Friday art walk and as a foodie’s delight with pop-up dinners on the second Saturday of every month(expect for this one, of course).

So no, I don’t think that we’re in a bubble but there are real concerns about the price of housing. Individuals whose families have lived in the American Canyon-Vallejo area for generations can no longer afford to live here. It says as much about stagnant wages as it does about desirability of the area. My sincere hope is that housing prices even out so that we can keep a diversity of families in the area.

1/30/17 Napa-Solano Inventory

Solano inventory dropped for the second straight week last week while Napa County remained relatively static. Anecdotally, the housing market is still moving at a brisk pace throughout the region. Sales are down in American Canyon but prices are way up.  This appears to be the case throughout the rest of the region. After the first 30 days it appears as though the 2017 forecasters are going to be right on.

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1/26/17 Inventory Update

Inventory dropped in Solano County this week while Napa County remained relatively stagnant. At the same time, mortgage rates continued to tick up. The big real estate news this week, however, came on Friday as the new administration decided not to cut the insurance premium on FHA loans. It’s too early to say exactly what this means but it will definitely hurt affordability for first time home buyers.

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