With a new year and a new President, homeownership opportunities abound here in Vallejo, CA.  Home prices here have dropped to an amazingly low level.  With 507 homes under $200,000 here buyers have a great deal to choose from.  As of today the lowest priced condo is $28,700 and the lowest priced single family residence is $39,900.  Now that isn't to say that these properties may not need some work but it just shows that there is enough out there for every type of buyer who may be in the market.  For investors it finally means that they will be able to acquire some investment property that actually CASH FLOWS and provides an income.  For those first time homebuyers out there it means that you can actually get into a property with a fixed rate loan and possibly pay less than you currently are for rent.  So while there is enough doom and gloom out there for the most pessimistic amoungst us, don't forget that there are great opportunities to be had for those with the vision, wherewithal and courage to take advantage.