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:
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:
Since the beginning of the year, every city except Benicia has seen its housing inventory drop sharply. Suisun City leads the way, with almost a third (28.9%) fewer homes today than four weeks ago.
Since Jan. 5, Vacaville’s inventory has dropped 12.7%, Fairfield-Green Valley’s 9.7% and Vallejo’s 5.7%. Benicia’s inventory has held fairly steady; there were 106 homes on the market four weeks ago and there are 104 active listings today — a drop of only 1.9%.
As I pointed out last week, it’s too early to call this a trend, since some of the drop in inventory could be attributed to the Fannie Mae/Freddie Mac moratorium on foreclosures. That foreclosure ban ended yesterday (Feb. 1), so we could again start to see the inventory climb.
However, if the supply of active listings instead continues to drop in the coming weeks, then it could be a signal that the bottom of the market is near. We’ll continue to keep a close eye on things, particularly with the traditionally busier spring buying season drawing near.
To see the complete report, with week-by-week totals, Click Here. And follow the market with us by checking back each week.
Want to Search Our Local MLS Systems For Homes? Click Here
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This post originally appeared here:
Even though foreclosures in the fourth quarter were up substantially over the same period a year earlier, the number of pre-foreclosures actually dropped throughout the state in the last quarter of 2008, compared to the last quarter of 2007, according to a just-released report from real estate data guru Dataquick.
Statewide, notice of default recordings were down 7.7% during that period, but here in the Bay Area they were down 12.2%, led by Solano County, which had 20.9% fewer NOD’s recorded in the last quarter of ‘08 than during the same quarter of ‘07. Contra Costa was down 17.6%.
When a Notice of Default is recorded, that signals the “official” start of the foreclosure process. From that date, the borrower has three months to bring the loan current. If that doesn’t happen, then the lender can foreclose three weeks later.
So NOD recordings are a very reliable gauge of how many foreclosures are coming down the pike four or five months later.
On the surface that would seem to indicate that perhaps the worst is now behind us. But before you jump to such conclusions, consider a few things that could point to the contrary:
While NOD recordings were down, Dataquick’s fourth quarter figures showed actual foreclosures up substantially during that same period of time. Statewide, there were 45.8% more foreclosures in Q4 of 2008 than 2007. Solano County, at 51.7 was a bit lower than the Bay Area average of 67.9%. Contra Costa had 48.3% more foreclosures in ‘08, almost identical to the statewide average.
For a complete county-by-county list, CLICK HERE.
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This post originally appeared here:
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 visit HomeSection.com weekly; I normally update this custom report every Monday or Tuesday.
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This post originally appeared here:
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:
Integrity, honesty & professionalism are my hallmarks. I live by the Golden Rule -- treat each client as you'd want to be treated...a concept that unfortunately is far too rare in our profession.
Real estate is full of people who'll promise you the moon and then forget where they left their spaceship. 
With Rod & Jamie Herman, it's just the opposite. No empty promises. No mindless rhetoric. Just two honest hard-working real estate professionals who care about their clients and treat them like family.
If that sounds different than what you may be accustomed to, you're not alone. Our credo is simple: do business according to the Golden Rule and treat people the way we'd like to be treated with honesty, reliability, integrity, and professionalism.
From our Benicia office, we're strategically located to assist clients throughout Solano and Central Contra Costa Counties. That means we can help you from Vacaville to San Ramon and all points in-between. It also means we won't send you to somebody else to see homes ty five miles away just because it's across the bridge. We're members of two different MLS systems, so, unlike many local agents, we're here to assist you no matter what side of the Benicia Bridge you'd like to make your home.
As you browse our web site, you'll notice that we call ourselves The Hidden Advantage. Once you get to know us, you'll see that it's more than just a catchy slogan. It goes a long way towards describing who we are and why our clients receive a level of service, knowledge, and experience far greater than most Realtors are able to provide.
Whether you're thinking of buying, selling, or just keeping tabs on what homes in your neighborhood are worth, we're ready to help. We can be reached by Phone, Email or through the contact form on our web site.
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I've been part of the local housing industry since 1982, with experience as a marketing, advertising and public relations director for a major Bay Area homebuilder, branch manager for a local title and escrow company, and of course, as a successful real estate agent.
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Rod & Jamie did such an outstanding job selling my home that I just had to let you know. They handled every detail with such efficiency that it made the whole process stress-free. I've sold several properties and have always had difficulty with communications. Not so with Rod & Jamie. They always call back in a timely manner. I will recommend them to all my friends.
- Dona Rose (Seller)
Rod & Jamie were extremely helpful in helping us sell our home at a fair price in a difficult environment. Rod was totally on top of all the events that occurred as part of the process. This started with recommendations for improvements to increase market value and continuity through the funding at close of escrow. Jamie was very organized in making sure all the paperwork was properly filled out and was very helpful in suggestions for the home improvements. We look forward to using their services in the future.
- Rick and Sue Gordon (Sellers)
When we made the decision to put our home on the market, we knew we would come back to Coldwell Banker Solano Pacific. The hard part was choosing from our friends there that Roger had worked with. He knew that it takes focused attention and a strong sales organization that makes for a successful listing, sale and escrow. Rod and Jamie exceeded our expectations for professionalism. We were in frequent communication about the progress on the listing, sale and escrow of our home. After more than 30 years in Benicia, it was hard to leave, but we knew we would be well taken care of by Rod and Jamie when we chose to move out before the house had sold. Real estate is a difficult business to be successful in because of uncontrollable factors that can affect the market. Rod and Jamie were able to see when these might be happening and because of their counsel and advice, we were able to make sound decisions. We highly recommend Rod and Jamie Herman to anyone looking for a real estate team that always has a positive attitude, are true real estate professionals and who have excellent knowledge of how real estate transactions can and should take place. Coldwell Banker is lucky they haven't opened their own office.
- Roger and Rosanne Heym (Sellers) -- Roger is a former Coldwell Banker agent
We were both quite impressed with the tenacity and stick-to-it-iv-ness you both displayed during the rather long and arduous process. May other Realtors would have lost interest in our project and put us on their back burners. It is not often that we have to deal with real estate matters, but it is really reassuring to know that when we do, you two are there to look out for our interests, explain all the details, and ensure we understand everything that is transpiring. Your personal service and attention to detail is very much appreciated. Thank you, Thank you, Thank you!!!
- Charlie & Gail Bouffard (Repeat Clients)
In a very stressful time for my husband and I (we got engaged, married, quit jobs, started new jobs, sold a home in Nevada, bought a home in California and moved...all in less than 2 months!), we counted on Rod and Jamie to not only handle the transaction, but also be efficient and look out for our best interests. They exceeded our expectations in every way. They are professional, courteous, detail-oriented, experienced and knowledgeable. We respect them greatly not only professionally, but personally, too! We hope to continue our friendship with Rod & Jamie and will recommend them every chance we get!
- Chris and Sharon Black (Buyers)
The Hermans are the most trusted, hard-working, thorough agents we have EVER dealt with. Attitude: Positive, Supportive, Superb. Professionalism: Of the highest standard. Knowledge of Real Estate: Superb.
- Ron and Sheri Russo (Sellers)
Rod & Jamie are the only two people we would do real estate business with!
- Don & Karen Richey, Sellers & Buyers (Repeat Clients)
Excellent, very nice, friendly and helpful. Remarkable knowledge of real estate. Rod had major information whenever I needed an answer. They also created an excellent web site for my home.
- Joan Beguelin (Seller)
Rod and Jamie were always upbeat and encouraging, yet realistic in regards to what Michael & I could afford and work with. Rod and Jamie were consummate professionals. They were always responsive...never failed to return phone calls, updated us on changes immediately. They were always "cool, calm, and collected" even with the extremely short timeline we had to find and offer on a home, since we were traveling from Massachusetts. Even with the wedding for their eldest daughter imminent, we never felt like we were "put on hold." We always felt that our needs were important to both Rod and Jamie.
- Michael & Monyee Kazek, Buyers & Sellers (Repeat Clients)
This is the third time we've asked Rod & Jamie to represent us in a real estate transaction. In our view they are the best at what they do.
- Tim & Vickie Ward (Buyers & Sellers (5-Time Repeat Clients)
We could not have been happier with our experience. As first time homebuyers, we were not fully aware of the details involved when buying our first home and nervous about making this purchase. Rod and Jamie addressed all of our concerns and questions with professionalism and courtesy. We felt comfortable with them and their knowledge of the market and confident that they had our best interest in mind when negotiating.
- Brian and Amy Pereira (Buyers)
We were so very pleased with the Hermans. We described what we could afford and what we hoped to find in our first home and they found it with extras! With real estate professionals like Rod & Jamie Herman, I can understand why Coldwell Banker is such a successful real estate company.
- Doc & Cathy Soto (Buyers)
We had the privilege to work with Rod & Jamie Herman before out latest purchase of our new home. They helped us purchase our very first home some 6 years ago. They took two very nervous first-time home buyers and made us feel like our interests truly came first and prepared us for all of the unforeseen things that go into such a thing. We of course, called them again to help us "move up in the world." Some things never change! Their professionalism has gotten even better if that is possible! Their knowledge of all of the pitfalls made us very comfortable and we put our full trust in them, which is rare these days! They did more than they needed to every step of the way. We will of course, if ever needed, use them again and continue to refer any and all who need "real" real estate professionals.
- Mark & Melinda Bilow (Buyers, Sellers, Repeat Clients)
I think the best tribute we can give to them is to share with you how they truly "work up" to the claim they make on their website: "Our credo is simple: do business according to the Golden Rule, treat people the way we'd like to be treated with honesty, integrity and professionalism." And how! With Rod & Jamie nothing was too much. They bent over backwards to accommodate us. Rod & Jamie were as honest as it gets - they candidly (but delicately!) helped us out when we were prepping the condo for the market by making suggestions that would approve its appeal when being shown. The most unbelievable thing is that they represented both the buyer and seller in both of our transactions and we felt that Rod and Jamie were on our side the whole time in both situations.
- Greg & Bridgette Kennedy (Buyers, Sellers)
For More Testimonials, visit HomeSection.com.
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