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By Leslie | December 20, 2011
The following data comes from www.ForeclosureListService.com.
We are definitely seeing a surge in the filing of new foreclosures in Ventura County. The first step in California’s foreclosure process is the filing of the Notice of Default. That period lasts 3 months, then the trustee/lender files the Notice of Trustee Sale document which gives the time, place and amount of bid for the property. If the property goes to auction, a Trustee Deed is recorded showing the new owner. It can either be the lender (if no third party bid for it) or the successful high third party bidder.
Foreclosure_statistics_monthly_october-2011
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By Leslie | December 20, 2011
November home sales numbers continued to fall in Ventura and Camarillo with a slight uptick in Oxnard.
Single family home price points increased for Ventura and Camarillo and Oxnard remains steady; but condo price points for Ventura are softening while Oxnard had a modest increase and Camarillo bounced back up.
Because monthly reports are more volatile, I’m waiting for December’s numbers so we can see how the broader trend looks for the last quarter of 2011.
The percentage of single family homes that were distressed sales in the month of November are:
Ventura – 49% Oxnard – 63% Camarillo – 51%
Sold prices – Single family homes in Ventura, Oxnard, Camarillo:
Sold prices – Condos in Ventura, Oxnard, Camarillo:
Numbers sold – Single family homes in Ventura, Oxnard, Camarillo:
Detailed data for single family homes sold in:
Detailed data for condos sold in:
Detailed monthly data for pendings (in escrow) – single family homes and condos:
All data is taken from the Ventura, Oxnard and Camarillo MLS.
By Don | December 16, 2011
Here are examples of small industrial units that were recently taken back by their lenders. They show exceptional value for either an owner/user or an investor looking to acquire small industrial units.
This photo is of 2 adjacent condo units on Dupont Circle, Ventura. Each are about 1,200 square feet, have an office in front with warehouse in back. Currently, the front offices are open to each other but could easily be put back into individual offices. The opening bid for the pair at auction was $240,000 but there were no bidders so the units reverted back to the lender. Comparable units in the area have been selling for $170,000. Read the rest of this article »
Filed under article topic:
Investors
By Leslie | November 14, 2011
October home sales numbers show a continued sharp slow down in Oxnard and also (but not as intense) slow downs for Ventura and Oxnard. As we start to head into the holiday season we traditionally see sales activity begin to moderate.
Single family home price points for Camarillo stabilized in September and October and Ventura saw an increase, but condo price points appear to be softening.
The percentage of single family homes that were distressed sales in the month of October are:
Ventura – 41% Oxnard – 64% Camarillo – 48%
Sold prices – Single family homes in Ventura, Oxnard, Camarillo:
Sold prices – Condos in Ventura, Oxnard, Camarillo:
Numbers sold – Single family homes in Ventura, Oxnard, Camarillo:
Detailed data for single family homes sold in:
Detailed data for condos sold in:
Detailed monthly data for pendings (in escrow) – single family homes and condos:
All data is taken from the Ventura, Oxnard and Camarillo MLS.
By Leslie | October 27, 2011
The number of filings of Notice of Defaults for September (first step in the foreclosure process) continued a second month of decline from August even though the quarterly graph shows a turn upward.
The spread between the blue line and the green line always intrigues me. The green line represents completed foreclosures – over 200 homes a month.
I just don’t understand why homeowners – who know they can’t afford to keep their home – allow their lender to foreclose when they could be in control of the process and do a US Treasury HAFA short sale – and get $3,000 at close of escrow!
By Don | October 27, 2011
A puzzle! It seems like every short sale has a twist of some sort or another, but this one was bigger than most.
This home in Camarillo had a 2nd Deed of Trust from Bank of America that had been written off (charged off) 3 years ago according to one source, but this year varied from one department to another! In the byzantine world of Bank of America with its 100,000 workers, no one could figure out which department or entity within the bank “owned” the note.
Fortunately, Leslie has an inside person high in B of A that “assigned” responsibility to an entity in Florida and they did the necessary paperwork for this deal to close.
But to show how frustrating dealing with big lenders can be, Leslie had also contacted the escalation people at HAMP (they track these issues), and yesterday (coincidentally!) Leslie’s contact called to say he couldn’t get anyone at B of A to accept responsibility for this note! They both just laughed when Leslie said the deal just closed.
It’s quite like the letter Leslie got from Chase earlier this month about a short sale she closed earlier this summer…
Filed under article topic:
Short Sales | HAFA program
By Don | October 24, 2011
I’ve finished the 4 wings (finally) and built stanchions that allow me to turn the wings for easier access in varnishing.
Trying to figure out which was most efficient, brushing or spraying, I ended up deciding to spray the wings.
Here’s what spraying on the varnish looks like!
Filed under article topic:
Tiger Moth
By Leslie | October 24, 2011
Representing the buyers, Don recently closed a 7.5 acre industrial site in Santa Paula that was owned by First California Bank. He was instrumental in locating the bank owned property, finding the buyers and negotiating the transaction.
Filed under article topic:
Investors
By Leslie | October 20, 2011
I recently got the attached letter from Chase on a short sale transaction I closed last summer. Hmmm…now you know why we just “love” short sales!
Filed under article topic:
Short Sales | HAFA program
By Don | October 14, 2011
Leslie posted her detailed statistics for Ventura, Oxnard and Camarillo yesterday and I was very curious to see if I could see any trends starting to emerge. With all the negative housing news in the media (nationally), I wanted to see what was going on in our neck of the woods.
What surprised me was the trending of number of homes sold over the past 12 months - trend lines are up strongly for all 3 cities.
As far as trending over the past 12 months for home prices, Camarillo has softened, but Ventura and Oxnard have remained flat, which isn’t bad all things considered.
Leslie has started showing the percentages of distressed sales (foreclosures and short sales) and it’ll be interesting to see how those change over time. It would appear lenders are beginning to get more aggressive in starting foreclosures so I wouldn’t be surprised to see those percentages begin to increase a bit over the next several months.
