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There’s an unusual turn on the market. On Fannie Mae Homepath (http://www.homepath.com )bank owned properties, the sellers reserve the right to sell the property to a non-investor. Meaning, they will shy away from the “all cash” offers for an extended period of time. This is very frustrating to the investor who is ready to pull the trigger, however, refreshing to the first time home buyer who has been getting obliterated by the proverbial “all cash” offer.
At least in Napa and Solano County, the lower price range ($150,000 - $400,000) has been selling very fast. I recently read that Solano county is one of the hottest real estate sales areas in the entire country. I can believe that! I have many first time home buyers and investors who are taking full advantage of this. Due to the demand and lack of supply Napa and Solano county have seen some appreciation in the past twelve months. And as you may have heard me say before, these low interest rates can’t last forever.
The extension of the $8,000 federal tax credit won’t hurt demand. I can’t imagine a better time to buy. We are seeing a perfect combination!
Please call or email me with any questions you may have about the benefits enclosed and for answers to your questions about real estate.
Sincerely,
Jerry Pujals
Realtor® DRE#01234625
(707) 259-5264
(707) 249-0518 cell
