If there is a silver lining to the storm clouds hanging over the housing market in Solano County, CA, it is that people of low to moderate income may be able to buy a home--a prospect that seemed completely beyond their reach even a year ago. In the City of Vallejo we have seen prices drop as much as 70% in some areas in the past two years. When you consider these low priced homes; the current low interest rates on "safe" loans; and the $8,000 tax credit available to first time buyers who purchase during 2009, you can see that we actually have a (sorry) Perfect Storm for entry level buyers.

Some of the rules have changed: you actually have to be prepared to make an up front financial committment to your purchase. But prices have declined enough that you can now use government insured loan programs such as FHA and VA (VA is the GI bill and available to eligible active dutiy and veterans of the US Military). In some cases there may be adjunct programs available such as help with down payment or closing costs, provided by the city or county where you are purchasing.

How can you take advantage of this rare opportunity?  First, find a HUD certified Home Buyers Class in your area. These classes are often offered through the Affordable Housing Division of a city or county or by a local non-profit organization. If you cannot find a program on your own contact the Housing Authority in the city where you wish to live and ask them if they can refer you to a class. If that doesn't work, find a Realtor who specializes in working with First Time Buyers of Low to Moderate Income. Not all Realtors work with this very special group of buyers. You  require alot more care and feeding than other buyers. We have to keep in mind loan requirements for both you and the property you buy. We have to be aggressive in our efforts to get your offers accepted because you usually need some help from the sellers and you are competing for a more limited number of homes. In short, you need Realtors and lenders who are very knowledgable about special programs for you and who are totally committed to your success as a home owner!!

If you are looking to purchase anywhere in Solano, Napa, Sonoma, Marin, Mendocino or parts of Lake Counties  there is a web site that will really help you learn the housing market in your desired area. That site is www.greathomes.org and it is the actual consumer side of the MLS. It is not a lead generator (they won't ask you to register) and it is maintained by the same staff who service the agent side of the MLS so it is updated every 30 minutes. You can also get statistical data from this site.

As of today, everyone I talk to and every talking head on the radio is saying we have probably hit bottom in the housing market in this area.....so if you are sitting on the fence feel free to jump in the pool...it is an exciting time for many of you who never thought you would get this chance to buy a home. 

Go for it!!

Located on a small street of 7 homes in East Vallejo, close to schools, shopping, freeways. This home needs some updating but features a lovely raised hearth fireplace in living room; huge hall bath; master suite; family room; interior laundry room and some view from the kitchen and family room. Landscaped front and back; two car garage; 3 bedrooms and 2 baths.

 

Presented by Vallejo Neighborhood Housing Services, Inc.

 

EXCITING AND INFORMATIVE TOPICS!

 

- How to budget my money

- How to clean up my credit report

- How to find the right home

- How to find the right mortgage loan

- How to keep my home well maintained

 

WE WILL HELP YOU AFTER THE CALSS TOO!!

 

Free ongoing one on one credit counseling and other assistance to help you reach your goals!

* There is a fee for this class

 

FOR MORE INFORMATION CALL:

 

707-552-4663

Fax 707-643-2143

 

Class Held at:  610 Lemon St., Vallejo, CA  94590

The magnificently restored Empress Theatre will hold the Opening Film Event on March 15th with a screening of CASABLANCA. Enjoy this film classic on the spectacular 28 ft. Wide Screen with 12,600 Watts Dolby Digital Surround Sound. There will be a No Host Bar and Complimentary Hors d'oeuvres and Live Music beginning at 6:00pm and the film starts at 7:30pm. Tickest go on sale March 3rd and are $20 for Adults and $14 for Seniors. For more information please call 707-552-2400 or visit www.empresstheatre.org and discover the romance and splendor of this rejuvenated Empress!!

My last attempt to post this message got sandwiched between a couple of photo albums so we will try again. Century 21 Schutjer Realty and Consumers Choice Mortgage are hosting a tour on March 1st from 10am to 1pm of Bank Owned Properties. There are over 900 such homes and condos in Solano County. This event is FREE but you must pre-register so we can tailor a tour to meet your specifications. If you are already working with a lender, great. But if not, you can get pre-qualified at no cost or obligation. We will also provide you with a complete list of Bank Owned properties for sale at no cost or obligation. Even though interest rates have gone up they are still outstanding and the Banks are ready to deal on these foreclosures because they have so many of them. We will meet at Century 21 Schutjer Realty, 2255 Tennessee St., Vallejo, CA 94591. To pre-register please call 1-800-521-6674 xt 17 or email me at britt@castles.com and we will get you on the list. Hope to see you there!!

As of this afternoon there were 342 single family homes on the MLS in the City of Vallejo that are Bank Owned and for sale at bargain prices....and the Banks continue to negotiate! This doesn't count the condos or multiple units available. There are fixers and there are beautiful, nearly new homes available. We are going to host a tour of some of these homes on March 1st from 10am to 1pm. We will tailor your individual tour to fit your price range and needs. You can get pre-qualified and get a list of properties throughout Napa and Solano Counties. This event is FREE but you MUST pre-register. If you can be in Vallejo, CA that day please email or phone me so we can sign you up. Call 1-800-521-6674 xt 17 or email britt@castles.com to register. Interest rates are fantastic and there are several very excellent loan programs available  whether you are a first time buyer, investor or move-up buyer. Hope to hear from you soon!!

One of my favorite lenders just emailed that she can lock in a "vanilla" 30 year conforming loan at 5.375% today!! That is fixed for 30 years!!! That, combined with our lowest prices in 4 years makes this an incredible market!! First time buyers who found themselves priced out are now priced in and the investors are on the move!! With all the foreclosures we have had in our area we have seen a truly dramatic drop in home prices and there are just incredible opportunities out there right now. Add to that the excellent, "safe" first time home buyer programs that are available and this is a PERFECT time to buy a home!!!

This is a condominium development of 180 units in 22 buildings. Each unit is on one level of a two story building. Floorplans are 1 bedroom 1 bath; 2 bedroom 1 bath; 2 bedroom 2 bath; and 3 bedroom 2 bath. All have interior full size laundry hookups, a patio or balcony and their own water heater. Half of the units have a detached 1 car garage and all have a covered carport. Some units have panoramic views of the Napa River and points West including Mt. Tamalpais and Marin County. This is a gated community with an inground pool, small gym and a reception room with kitchen facilities for use by the residents. This is a great location if you plan to attend Touro University or work on Mare Island. The complex is on the corner of Hwy 37 and Wilson Ave. so you have an easy commute into Sonoma or Marin or Napa Counties and you will be just minutes from the San Francisco Ferry. Prices currently range from the low $200,000s to about $325,000.

Four of the Townhomes are in one building; two in another. Each unit is 2 bedrooms 1.5 baths with central heat; fireplace in living room; interior washer/dryer hookups; attached 1 car garage with interior access and automatic garage door opener. The exterior of the units have been stuccoed recently and new fencing encircles the grounds. Rents range from $850 to $1200 per month; owner pays water, garbage and sewer. The tenants are long term (there is never a vacancy here) and 2 of the 6 are Section 8 tenants. For photos and more information please email me.

151 Daniels Avenue is a brand new, custom home with 3 bedrooms, 2 baths; approx. 1825 sq. ft. (per builder); granite countertops in kitchen and baths; tile floors in kitchen and baths; gas fireplace in living room; central heat and air conditioning; jetted tub in master bath; dual sinks in both baths; energy efficient recessed lighting; dual pane windows; corner lot with private patio; some city lights view; laundry hookups in single car garage. Priced to sell at $545,000 with no special assessments! Call today for your private showing of this special home.