It’s hard to believe we are already into May. Things are moving fast this year including the real estate inventory. My Mom use to say that the older one gets the faster the years go by.  I hated hearing that, however, I can relate to it, now.  Just another reason to enjoy the most of everyday.  A quote by Abraham Lincoln ~ And in the end, it's not the years in your life that count. It's the life in your years.

I am comfortable in saying that we now have affordable housing in Napa.  Whereas in 2006, you could count the number of homes on one hand priced under $400K, today, there are 41 homes on the market priced below $300K in Napa.  A good majority of properties are getting multiple offers.  There is great opportunity for first-time homebuyers and investors in this market. Yountville, St. Helena and Calistoga have not seen the number of foreclosures as Napa, however, there are more creeping into those areas.  Whereas sales in these areas were moving slow at the beginning of the year, they are now picking up.  CNNMoney.com reports that Federal Reserve Chairman Ben Bernanke said, yesterday, that the U.S. economy is stabilizing and will begin to rebound later this year, but the recovery will be slow and cautious.

There are some awesome tax credit incentives from the government. In my real estate update section, I will review the parameters around the $8,000 First-Time Homebuyer Credit and the $10,000 credit for a new(never lived in) home purchase.  More incentives, once again, to buy now!

I personally invite you to Coldwell Banker’s “Get Smart” lecture series. Now in our tenth season, we continue to offer a variety of real estate and community topics popular with our clients. The lectures generally last 60-90 minutes and we recommend reservations. Two more classes remain and I hope you can make one of them.  Jill Techel will be speaking, tonight, regarding developments in the city of Napa and the flood project.

HIKE NV will venture into Marin this month on 5/16.  We’ve had great turnouts on the first two hikes of the year!  Details on the May hike are listed in the HIKE NV section of my website.  Hope you can join us for a full day of fun and exercise. 

Enjoy the springtime and I hope sunny days will be soon in sight!

Sincerely,

Ingrid Owen