Vallejo, CA

Well..... they have been sold with not much more inventory coming on the market for buyers to choose from.

From January 2008 through April 2008 time period 175 homes were sold. $65,000 was the lowest price and $620,000 was the highest. Median price was $261,000. All information is from Bay Area Real Estate Information dated 5/2/09.

From January 2009 through April 2009, 725 homes have sold. The lowest price was $23,000 (price of a car and life expectancy is longer!) and the highest price home sold was $495,000. The median price was $120,000.

WOW, more than a 50% drop in median price.

As of 5/2/2009 there were 152 foreclosures for sale. You do the math, not a whole lot of inventory to choose from!!

There are homes coming on the market every day, just not as many as last year. Now is the time with interest rates low, for buyers to jump in and still get some great deals. Let a Realtor help you find the best home to meet your needs.

Our inventory of homes for sale in Vallejo, CA has dropped tremendously since the last year. HUGE drop in inventory. As I have written previously this is now a seller's market with multiple offers on homes time and time again-as soon as they hit the market.

As of 4/19/09 per the Bay Area Real Estate Information (MLS), Vallejo has 491 homes for sale (single family and condos). We had that many listed as foreclosures 6 months ago!!

166 of these listed homes for sale are foreclosures and the new news from several months ago is the number of short sales has gone up. There are 222 short sales listed. And short sales are going through. I recommend to my buyers that if a short sale home for sale appeals to them, go for it. It will be a long bumpy road, however, could be worth the wait. Every month we as Realtors become more adept in navigating the short sale process and getting the banks to approve a sale. It is important the buyers agent and sellers agent work closely together and communicate every week, even if the bank is not doing anything at that moment.

The interest rates are still great and there are some lovely homes for sale!! Until more foreclosures get released, as the news has indicated, it is still a great time to buy. Prices are not going up nor are they going down with all the multiple offers. They are hovering!

Remember -- use a trusted Realtor to assist you!

Two year ago my partner and I were the first in our office to list homes as short sales. The banks were awful to deal with and dragged the process out. As a buyer a short sale can be a great way to buy your dream home and as a seller an opportunity to get out from under a undesirable situation.

Alot has happened since two years ago. Sellers who need to get out from under their mortgages should consider a short sale. Granted it is NOT for everyone. It is an alternative to consider when researching your options on wanting to move on with your life.

As agents listing homes that are short sales, organization and constant communication with the banks is paramount. I am so proud to say we have gotten two approved short sales in the past month in Vallejo CA. Our clients are ecstatic. A short sale process may not be the answer to your concerns, BUT, it is an alternative.

Most important is to gather information so as a distressed homeowner, you can make an informed decision that will best suit their needs.

It is taking it one step at at time, and before you know it, you will know what will be the best solution for your situation. Just remember talk to someone knowledgeable about the short sale process and decide if this is right for you.

I just completed January's Vallejo home sales report and its available for download by clicking on the graphic. It lists every Vallejo home that closed escrow last month and includes bedrooms, baths, square footage, original list price, final list price, closing price and even a comparison showing the net difference between the seller’s starting price and the ultimate selling price.

The least expensive home in Vallejo last month sold for $23,750 on N. Camino Alto. The most expensive was $495,000 on Landmark Dr. in Hiddenbrooke (one of only two Vallejo homes to sell above $400,000).

Next month’s report will be posted in early March. To see Benicia’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!

Related Articles:

• Solano County January Home Sales
  
• Benicia January Home Sales
  
• Solano Weekly Housing Activity Report

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This post originally appeared here:

The Skinny On Every January Vallejo Home Sale

A year has passed way too quickly. As time marches on, so do the foreclosed properties for sale. A quick glance from the Bay Area Real Estate Information as of 1/4/09 indicates the majority of sold residential properties in Vallejo, CA were foreclosed properties.

There were 1457 properties SOLD. 1191 were foreclosures. A whopping 82%!!!

Sales prices ranged from a low of $27,000 to a high of $650,000.

As of today we have 885 residential properties for sale. 536 of them are foreclosures. In the city of Vallejo we are selling homes quickly when they are priced right. From historical homes to newer homes we have it all to meet your needs!

With interest prices low and FHA having some wonderful low downpayment programs, make 2009 the year you invest or purchase a home to live in!!

Now is the year to make that move in Real Estate!! and Vallejo, CA is a great place to buy! For more information or a free list of foreclosures for sale, contact Melanie Ross @707-319-2828 or email me @ melanie.ross@solanopacific.com