Stefan C Jezycki

Interesting week in the real estate. There was a rush of ratified contracts hoping to take advantage of the federal tax credit, expiring April 30, hoping to close by June 30th.

Activity remains healthy. Of the properties new to the market, 67 in all, 26 are either REOs or SS. Of the 29 homes that closed escrow in the last 7 days, 17 were REO's or SS.

It is a little rainy today. These are still inconsistent times. We are experiencing many Realtors practicing real estate in Napa who are not from Napa nor have a track record in our area. But the banks and ill-informed homeowners continue to trust these strangers. Most of us Realtors in Napa work hard to maintain the highest level of the Code of Ethics and communication. This is also the fallout from a regionalized MLS.

some activity at the Silverado Country Club. Offers submitted and escrows closing. This is a good sign.

Atives, New Listings: 67 Price Reductions: 38

Contingent, Under contract: 44 Pending Sales: 35

Solds, closed escrows: 29 Back on the market: 25

High new listing: St Helena, $3.990 Million, just over 2 acres, 6900 sq. ft, 4 bedrooms, 6 baths

Lowest new listing: Napa, Condo, $149,900 3/3/ 1232 sq. ft. Short Sale

High Sale, sold: Napa, $785,000, originally listed for $845,000 .50 acre, 2400 sq ft, 4/2, very desirable area, my clients waited one week to long and would have paid more for the house

Fun story: I do believe that the banks work off a different balance sheet. Many times we ask, why wouldn't they......? Well, they don;t make sense unless you know what numbers they are using. There is listing presently on the market I had in escrow, working for SS approval at $330,000, it is now listed for sale as a REO for $289,000, not in escrow and has been on the market for 60 days now. They could have closed this last November. I just know somewhere we are paying for this somewhere.

Have a great week.

Stefan Jezycki, in the Napa Valley

Here is the latest update on the market in the Napa Valley, inclusive of American Canyon, Napa, Yountville, St. Helena up to Calistoga. This is delivered in a "hotsheet" format.

The market was rushed this week with buyers trying to get offers accepted prior to the end of business day April 30; in order to take advantage of the Federal Tax Credit. I read somewhere this weekend that 65% of the buyers out there were always intending to buyer with or without the credit. Good for them.

New Listings: 41 Price Reductions 51

Under contract: 46 Pending offers: 17

Sold, Closed: 22 Homes back on market: 24

The lowest new listing was in Napa at $169,000, 1/1 584 sq. ft. older home

The highest new listing was in St. Helena, 10 acres, 8000 Sq. ft. 8/10 priced at $28 Million

The lowest priced closed sale was in Napa, South east side, $239,000 3/2 1232 sq. ft.

The highest priced closed sale was in Napa on Green Valley Road, $3.9 million, 4/3 3055 Sq ft, 20 acres

Anything under $400,000 is moving along. The upper end has a pulse. There are many many great deals to be had between $700,000 and $1.6 million. I know this sound strange or off but we have a cross sections of homes, land, estates, from Calistoga to Napa, Country Club, large and small to choose from in these price ranges. We have not had that opportunity for a buyer in decades.

Have a good week. Cheers,

Stefan Jezycki in Napa Valley CA

What a interesting week. We have had cold wind, heavy rain, 70's and just alround pleasant weather week. The market is healthy. The inventory below $400,000 is still tight and dominated by short sales and REO's. It is a great time to buy when looking to purchase a country home or neighborhood home between $600,000 and $800,000. I can show you custom homes, 1, 2 and 5 acres parcels with vineyard views and a pretty nice home with pool to boot. These homes were priced in the high $900,000 up to $1.2 in some areas.

Markey Update, hotsheets:

New Listings: 56 Price Reductions: 48

New Under contract: 36 Pending Sales: 23

Sold, closed: 22 Back on the market: 16

Low New Listing: $143,000 in Napa, 3/1 855 sq. ft., built in 1940's, slight fixer

High New Listing: $6.5 Million in St. Helena 1/1 on 23 acres, vineyards

$5.5 Million in Napa, 15 acres, developement property with a few nice homes

Low Sale: $159,000 in Napa, 3/2 1189 sq. ft., in the flood zone, REO

High Sale: $1.4 million, St Helena 2/3 1900 sq. ft. on a 5700 sq ft lot

Have a great week.

Stefan In Napa Valley, CA

Just a rant and a plea if someone can direct me to someone who can get my offer presented. I wrote an offer over 3 weeks ago on an active REO listing, as of today....no response, no counter, no nothing.

What a disgrace! The listing agent does not want to call the asset manager too much because he does not want to hurt his furture chances for more business and these cake listings. In the meantime the roof is leaking, has a tarp on it, and yes it is raining here.

Cool stuff. Can you beleive my buyer has the audacity to want to know what has happened with his offer. He kind of expected to get a rejection, a counter or something. This buyer is not a first time homebuyer, 25% down and loan approved. All in all, if they would have responded we would have been closing next week.

Keep making those deals US Government! OneWest, IndyMAc.... more of the same.

Can someone maybe give me a number to call other than Barbara Boxer, Pelosi or any of those yahoos?

Stefan In Napa Valley

What a great week of weather. Started with a downpour and then a blaze of glory. The Valley is B-E-A-U-tiful!

We still have market here.

New Listings: 57 Price Reductions: 34

Under contract: 39 Pending Sales: 24

Sold: 28 Back on the market: 22

High New Listing: $8.9 Million, this gets you 8 acres in St Helena, 5 bedrooms, 6 bathrooms, 6500 sq.ft.

Low New Listing: $150,000, built in th 40's, 2 bedrooms, 1 bath, 756 sq. ft.

Robert Mondavi's House is for sale atop it own mountain, views, indoor pool, stunning floor plan and home, priced somewhere around $25,000,000 56 acres, and get this, no vines on the property

Shorts Sales and REO's are still very much a part of our market up to $500,000. We are seeing a few upper end REO's and short sales.

Take care,

Stefan in the Napa Valley