Foreclosuresare a hot topic. Solano County certainly has its share of foreclosures. When misfortune happens and people lose their homes for what ever reason, something has to happen to the homes. The banks are not in the rental business nor want to own homes. They are in the business of lending. This is an update to a previous blog last year as to the state of foreclosures.
So how many foreclosures are there in Vallejo? Our local multiple listing service as of 1/12/2008 indicated there are 358 single family homes or condos that are now owned by the bank and listed with a Realtor to sell in Vallejo out of a total of 1070 homes on the market. Their price range is from a low of $113,900 to a high of $869,900. The median price is $299,700 for a foreclosure. That compares to a home not foreclosed on at $359,000 median price in Vallejo.
Vallejo certainly has some lovely neighborhoods to choose from, all the way from contemporary to historic homes. Close to San Francisco, Napa Valley, and the Lake Tahoe region, Vallejo has something to offer everyone.
With the incredible selection of homes to meet any buyers pickiest needs, come check out the homes in Vallejo.
You may also be interested in foreclosures in Napa or Benicia.
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Melanie,
Do you think it is a good time for investors to begin buying in your area?
Yes it is a good time for investors and others. We have some incredible opportunities. We are seeing alot more activity this past week. On Thursday I was showing property and kept running into the same agent who was showing the same homes I was. Today we had to wait for two other agents showing a home our clients wanted to see and another agent was waiting outside to show it also. Just came on the market today and was a foreclosure. Plus I have gotten three leads via my website for first time home buyers in the past two weeks. Showing one property tomorrow, another one next week, and the third is getting pre-qualified. The REOs in our office are getting alot of showings when priced right. So I am keeping my nose to the grindstone and working hard.