Here at the RE/MAX Napa Valley office, RE/MAX Cornerstone the company has created a press release to announce the affiliation of me, Mike Bolen, Armando Lincoln and Ken Dunbar to the new RE/MAX Napa Valley office, RE/MAX Cornerstone. Our three person commercial team was ranked by the North Bay Business Journal at the 11th largest in the Bay area in 2006 and the 10th largest in 2007. Prior to our affiliation with the RE/MAX Napa Valley office RE/MAX Cornerstone the three of us were affiliated ... Read Full Story

Pre-foreclosures hit record highs in July 2008 both nationally and in 14 states and the District of Columbia according to new figures from ForeclosureS.com, California-based foreclosure information specialists.   “So far this year, more than 1.25 million Americans faced the risk of loosing their homes to foreclosure, up 7.3% from June 2008, and up 88.62% from July 2007,” says Alexis McGee, real estate expert, educator, and president of ForeclosureS.com.   California-based Foreclos... Read Full Story

A key piece of downtown Napa real estate is becoming free from a long term below market lease. The property located in downtown Napa on Main Street between 1st and Pearl is ideal for a mixed use development. The current owner Keith Rogal said in July, “I have felt for a long time that that block was crucial to make a more pleasant and vibrant downtown.” He finds the parking lots and open space around Mervyn’s “deadening.” Read more here: Here at the RE/MAX Napa Valley office RE/MAX Corn... Read Full Story

I found an interesting article about futures that can be purchased to hedge against a decline in value of your real estate holdings in the San Francisco bay area. As real estate investors in Napa, Sonoma, Marin and Solano county the past two years have ushered in some interesting buying opportunities. Here is a way to protect your equity: Using Futures To Hedge Your House Here at the RE/MAX Napa Valley office RE/MAX Cornerstone I specialize in working with multifamily investment buyers and se... Read Full Story

I guess I will say it again, “What a difference a month makes.” The Napa County July 2008 multifamily apartment sales market saw a steep decline in prices driven by the sale of the 15 unit complex on Lincoln. July was the weakest month on record for apartment sales in Napa County for 2008 when measured by price. July sales: July 2008 average unit sale price- $126,734 1761 Park Ave - $162,500 per unit 370 S. Minahen - $219,950 per unit 316 Coombs - $138,750 per unit (4 Units) 680 Lincoln Avenu... Read Full Story

Here is a unique multifamily property. This property is located at the high end Napa Valley resort called Silverado Country Club Resort and Spa this luxurious #1 Rated Silverado Resort Clubhouse Condo boasts some of the best features of any hotel condo in the country. The ground level condo (No Stairs) features a fireplace and easy walking distance from the swimming pool, golf course, Silverado mansion, spa and many other Silverado Resort amenities. Unit rents for $550 per night on hotel re... Read Full Story

Quick update the 15 unit apartment building located at 680 Lincoln Avenue in Napa just sold for $1,600,000 in an all cash deal both sides of the transaction were brokered by Tom Lyons at Income Property Services. The sale of this 15 unit building will cause further downward pressure on the already declining North Bay apartment market. The units were mostly 2 bedroom units including one large 3 bedroom unit. At $106,666 per unit this is a tough comp for the market to swallow. Expect further ... Read Full Story

What a difference a month makes. The Napa County June 2008 multifamily apartment sales market improved over May. May was the weakest month on record for apartment sales in Napa county for 2008. Where we witnessed a paltry 2 sales not so in June: June 2008 average unit sale price- $203,421 106 Valley Oak Circle - $149,700 per unit 161 Valley Oak Circle - $162,500 per unit 2158 Wilkins Avenue - $165,000 per unit 15 Randolph Street - $214,250 per unit 2445 Pine Street - $225,000 per unit 1933 Ma... Read Full Story

Nationwide, home prices in neighborhoods with long commutes and no public transportation are falling faster than prices in communities closer to cities, according to a study by Joseph Cortright, an economist at Impresa Consulting. For example, his study found that prices in distant suburbs of Tampa fell 14 percent in the last 12 months, versus a 9 percent drop in areas nearer the city. “The decline in almost every case is worse in the suburbs and exurbs than it is in close-in neighborho... Read Full Story

Carol Lloyd wrote an interesting article for the San Francisco Chronicle about a listing my collegue Armando Lincoln is currently offering for sale Schellville Station  what an amazing property with a tenant already in place. Take a chance on commercial property When Eddie Heintz visited the 6,000-square-foot structure on Carneros Highway (Highway 12) last spring, the property was rough, but its potential seemed clear and easily within reach. “The location was perfectly situated between... Read Full Story