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Benicia, CA

January's Benicia Home Sales Report

02-06-09
Rod Herman
Rod Herman: Real Estate Agent in Benicia, CA

I Just finished a report that shows every Benicia home that closed escrow in January. Click on the graphic to download the report, which includes address, bedrooms, baths, square footage, sales price, and even the net change from the original list price to the eventual selling price.

There were 13 home sales in Benicia last month — the lowest $114,900 and the highest $675,000.

Next month’s report will be posted in early March. To see Vallejo’s January home sales report, click here.

Remember, too, that I’m always happy to provide more custom and/or more detailed analyses of our market for clients and prospective clients. Just send me an email or give me a call and I’ll get to work!

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This post originally appeared here:

January ‘09 Benicia Home Sales Report ‘Hot Off The Presses’

Benicia is Doing Well

Candice Estey Swanson, MPM, Broker: Property Manager in Benicia, CA

The Benicia Finance Director and City Manager have informed us that all is well after considering a $490,000 cut, no more cuts are planned. The city does have plans in place if such cuts are necessary but overall things look good. One reason that Benicia does fairly well is that the city does not reply on big shopping mails for its revenue. Benicia has 2 shopping centers. Downtown shopping, the key tenant is Safeway with 2 banks, West America and Bank of America and a Chevrom gas station. the second shopping area has key tenants of Raleys, Burger King and Pedrotti ACE Hardware. The area has Wells Fargo, located in Raleys, US Bank and WaMu. It also contains several restaurants. Just enough for a small community. One of Benicia revenue sources is also Benicia Industrial Park, located east of the city on Highway 680.

Benicia has a great Fire Department and Police Department, lovely library with children story reading. Benicia has many family activities and civic events. Great place to live and raise your family.

Did Benicia Act Too Soon When It Closed Mills Elementary?

01-26-09
Rod Herman
Rod Herman: Real Estate Agent in Benicia, CA

It’s been several years since Benicia Unified School District closed Mills Elementary, the oldest of its five elementary schools and the only one located downtown.

Back then, it seemed like the sensible thing to do. The population base was maturing and as a by-product of that, school enrollment, particularly at the elementary school level was declining. The district couldn’t justify keeping five schools open when four offered plenty of capacity for Benicia’s youth population.

But now that property values have declined — back to about 2002 or 2003’s levels here in Benicia, we’re again seeing more and more first-time and young-family home buyers.

That’s a stark contrast to what occurred during the earlier part of this decade, when rapidly rising home prices essentially slammed the door shut on most first-time buyers. With even a modest single family home priced well into the $500,000’s as recently as 2006, most homebuyers who were in their early adult lives were effectively priced out of Benicia housing market.

Today, though, with some single family homes priced as low as the $300,000’s, doors which had previously been closed to many young families wanting to live in Benicia have opened again — and in a big way, thanks too to record-low mortgage rates.

A perfect case in point is our daughter’s young family. Still in their 20’s, they moved back to Benicia and rented a townhome in 2005. At the time, the prospects of she and her husband ever being able to buy a home in Benicia were daunting. They were just starting out in their respective fields and watched as home prices continued to climb — on just about a weekly basis.

Last year, now well established in their career paths, a combination of falling home prices and interest rates enabled them to buy a home that two years earlier would have felt like a pipe dream.

The home previously was owned by a single lady, whose children had long ago graduated from Benicia’s schools. Our daughter and son-in-law have a two-year old and another on the way.

So a home that had once contributed to Benicia’s school population and later contributed to its declining enrollment will, within a few years, again be contributing to the school population.

And with more and more Benicia home buyers in that 25-35 age group, it’s very likely that we could see the school district’s recent declining enrollment pattern quickly reversed.

I haven’t heard or read anything locally indicating that the schools are poised to see enrollments increase once more. So this is merely an observation on my part. But it makes sense: with so many more young families now able to afford Benicia’s home prices, it just seems to follow that we should again start to see an increase in school enrollments.

When we moved to Benicia in the mid-1980s, it was well within the price range of many first-time buyers. So the school population increased dramatically, to the point where two new elementary schools were built beween the mid-1980s and early 1990s to accommodate all the new construction.

Today, there aren’t very many un-built lots left in town, so I don’t think we have to worry about the remaining vacant lots in the Water’s End ever creating a large enough housing impact to warrant a new school.

However, depending on how long prices and mortgage rates remain as low as they are right now, if enough buyers with school age children continue to buy in Benicia, it’s possible that in time, our four remaining schools could again be bursting at the seams.

Which begs the question: Did we close Mills Elementary too soon?

Time will tell. Hopefully the folks running our school district are putting two and two together and keeping a close eye on things.

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This post originally appeared here:

Did Benicia Act Too Soon When It Closed Mills Elementary School?

Benicia, CA Foreclosure 2008 Year End Review

Melanie Ross, GRI, e-PRO Benicia CA & Vallejo CA Real Estate: Real Estate Agent in Benicia, CA

What a year in Benicia, Ca real estate!! No community is immune to foreclosures.

This past year there were 238 residential(single family and condos) sold in Benicia. 76 of them were foreclosures. (source:Bay Area Real Estate Information 1/4/09) While the first of 2008 saw us having few foreclosures to sell, as the year progressed, that inventory increased.

We currently have 108 homes for sale and 29 of them are foreclosures.

Make 2009 the year you invest or maybe move into a new home!! We have some great values from older homes to newer ones in the coveted Waters End neighborhood.

For a free list of homes for sale, foreclosed or not! call Melanie Ross @ 707-319-2828 or just email her- Melanie.Ross@solanopacific.com.

Just a can a week!

Melanie Ross, GRI, e-PRO Benicia CA & Vallejo CA Real Estate: Real Estate Agent in Benicia, CA

Coldwell Banker Solano Pacific at 900 First St, Benicia has two huge barrels looking for a can a week from YOU!

Last year we filled barrels with food for the Solano County Food Bank. This year, even more so, than last year there is need for food to fill the stomachs of children and adults who may not have the ability to pay for food. People are losing jobs, losing homes, Please help us keep everybody fed!!

Just a can a week. We are open 7 days a week from 9AM to 5:30PM.

Stop by and drop off some food!! We sincerely appreciate your help!