According to the Ventura MLS data, the number of homes in escrow (pending) for January 2010, is similar to January ‘07 and ‘09, but with ‘08 dipping downward.

There is a downward trend in the number of homes in escrow (pending) from last Fall and by almost 50% from January ‘09.

This is the start of the new year, but according to data from the Camarillo MLS, the number of homes that are in escrow (pending) is down a bit in January from December and January ‘09.

The Ventura MLS shows the number of homes sold in January is down from December while the price per square foot is trending up.

The number of condos sold has been on a downward trend since October – from 24 in October to 16 in January while the price per square foot is up from $176 to $219.

According to data from the Oxnard MLS, number of homes sold in Oxnard in January is way down from December and nearly 50% from January ‘09. The price per square foot is holding rather steady.

There is a dramatic drop in the the number of  condos sold – over 1/2 from December. The price per square foot shows a downward trend from October and November.

The Camarillo MLS shows that in January, there are approximately 50% fewer number of homes sold than in December. Overall, the price per square foot is also less than in December.

The number of condos sold has see-sawed since last Spring – up, down, up, down.  The price per square foot is seeing an upward trend.

Don recently closed on this 40,000 plus square foot office building in Camarillo. He represented the buyers in tracking this property through foreclosure and negotiating the sale with the lender. While much has been written about the housing crisis over the past 2 years or so, commercial real estate is beginning to be hit by the same pressures of falling values and lack of financing. Commercial properties were commonly financed through the CMBS (Commercial Mortgage Backed Securities) market, but that marketplace has essentially been frozen since our near financial meltdown in late 2008. This financial pressure on commercial properties, however, brings excellent opportunities for institutional and/or commercial investors. Interested in this arena of investment possibilities? Give Don a call to find out more.

Single family Ventura homes for sale have increased while levels for Oxnard and Camarillo appear to be relatively constant.  In January, about 180 homes were sold in these 3 cities, which would put our inventory level at about a 3 month supply. Inventory levels in other parts of the country are substantially higher (10 months or more) but our lower levels are still making entry level priced homes very competitive among buyers, with multiple offers still common. Here are the inventory level numbers.

In our February newsletter, I muse about the stark contrast I’ve seen this past year in real estate between worry – and hope.  Easy to write about, but so profound to understand!