Because the FHA is losing money on record foreclosures (their minimum reserves should be above 2% but were at 0.53% in November), they announced this week that they’re increasing the upfront premium from 1.75% to 2.25%. There has also been political pressure to increase the down payment (currently at 3.5%) to 5%, but as of now it’s still at the 3.5% level. FICO credit score minimums have been raised to 580 (lower FICOs will require a higher down payment). For complete details, here’s the HUD Mortgagee letter.

Ventura’s numbers of homes pending (in escrow) have increased for December and have held rather steady each quarter for 2009.

Oxnard’s homes for sale that are pending (in escrow) are down for this last quarter at 461 homes compared to the first quarter of 648 homes.

Camarillo’s number of single family homes and condos that are pending (in escrow) are down for the month of December and the 4th quarter, yet stronger than for 2008.

Ventura homes sold and Ventura condos sold are from the Ventura MLS listings. The numbers for single family homes spiked in October, declined in November and increased in December. Price and price per square foot increased.

Condos sold have similar numbers for October, November and December along with price and price per square foot.

Oxnard homes sold and Oxnard condos sold are from the Oxnard MLS listings. Single family homes shows increased activity over November; October spiked. Price paid and price per square foot are holding steady.  Condos show an increase in numbers in December, similar price point and similar price per square foot.

Camarillo homes sold and Camarillo condos sold from the Camarillo MLS listings shows that October numbers spiked, November declined and December is on the rise. For single family homes, the sold price and price per square foot are holding steady, while for condos they are the same as November.

It’s a bit hard to read, but this whimsical sign on the sliding gate hints at the life style these owners enjoyed – “To The Beach”! New on the market this weekend, this 3 bedroom home is being offered at $379,000. With hardwood floors, this home evokes the beach lifestyle of yesteryear in Ventura. But its recent past has been difficult and now it needs some TLC. Read the rest of this article »