Supply-demand concept applies to current Solano real estate scene

Solano Real Estate Scene: Jim Porter

Article By: Jim Porter – February 18, 2017

The Northern Solano County Association of Realtors has weekly meetings at 9 a.m. Tuesdays at their office on Hilborn Road in Fairfield. These weekly breakfast meetings have been going on in the real estate business around the country since the National Association of Realtors was founded in 1908.

This weekly meeting is an opportunity for Realtors and affiliates to share new ideas and learn from each other and the elected leadership of the association. It is also known as tour day, where Realtors host open houses for other Realtors to preview new listings for their prospective buyers.

This weekly tour was critical prior to the internet for Realtors to see homes for sale. Nowadays, a Realtor can see an array of photos and videos about new listings, however, there is nothing more valuable to a buyer and a Realtor than physically visiting a house in person to feel the home and the neighborhood.

At last week’s meeting, the Northern Solano County Association of Realtors leadership shared an interesting fact about today’s market in Fairfield, Vacaville, Suisun City and Dixon.

Curtis Stocking, a Realtor and president-elect of the association, said that only 230 homes are currently available for sale in these four cities, which is only a month and a half worth of inventory.

What this told me, as a 28-year affiliate member of the Northern Solano County Association of Realtors, is that now would be a great time to list a house for sale as I am sure this level of supply is nowhere near the level of demand today of qualified homebuyers.

Some sellers may be worried about finding a replacement home if they sell their house today. This is a legitimate concern. However, professional lenders and Realtors have solutions to offset this concern.

Call your trusted Realtor and loan officer today about listing your home or investment property while there is more demand than supply.

Jim Porter, NMLS No. 276412, is the branch manager of Solano Mortgage, NMLS No. 1515497, a division of American Pacific Mortgage Corporation, NMLS No. 1850, licensed in California by the Department of Financial Protection and Innovation under the CRMLA / Equal Housing Opportunity. Jim can be reached at 707-449-4777.