Sunday LA Times headline – “Bidding wars are back”

I was somewhat amused this morning looking at our Sunday LA Times and seeing the blaring headline – “Bidding wars are back in tight market”.

Previous blogs and a comment I made in our June newsletter about an investor’s all cash offer (not successful) last week has already alluded to the fierce competition for homes – especially correctly priced entry level homes and condos.

So what does it all mean?

For buyers – it means investors are seeing exceptional, generational, value in residential real estate. Rents are strong, the economy will ultimately heal itself (despite Washington) and they anticipate superior appreciation in the coming years – vice investing in stocks (equity) or bonds (debt).

For sellers – it means there are good, strong buyers waiting to make an offer on your home – as long as it is priced at 2012 prices – not 2007 prices.

Filed under article topic: Home buyers,Home sellers,Housing Market
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Ventura, Camarillo & Oxnard MLS housing report for May

Listed below are the May results for the sold prices of homes, the number of homes sold and number of homes in escrow – a future indicator of homes sold.

This data is taken from the Ventura, Oxnard and Camarillo MLS.

To see the detailed charts for Ventura, Oxnard and Camarillo, please see the links below.

The percentage of single family homes that were distressed sales in the month of  May are:

Ventura – 49%      Oxnard – 55%      Camarillo – 37%

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.

Filed under article topic: 2012 Pendings,2012 Solds,Homes sold,Market statistics/Trends,Pending home sales
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June newsletter – high tech solar eclipse watching & tribute to former Tiger Moth students

Our June “high tech” solar eclipse newsletter maybe uses a bit of poetic license, but hey – at some point in history, weren’t shoe boxes considered “high tech”?!?

I inform our friends and clients about Bank of America’s newly announced relocation assistance program (up to $30,000) and tell about an investor client’s offer last week – 15 bids!

On the back, Don – a Navy vet – reflects on seeing a Memorial Day program a couple weeks ago and how it caused him to want to say “Thank You” to former students who worked with him on the Tiger Moth and have gone on to serve our country.

Enjoy our newsletter!

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The Tiger Moth project – building the horizontal stabilizer

Many of you know I’m (very slowly) building a replica of a 1930s era bi-plane at Camarillo airport. The 4 wings (upper and lower, each side) are now finished and hanging from the ceiling in the hangar.

I’ve started building the small wing at the back of the plane called the horizontal stabilizer. Ultimately, the elevator (the control surface that moves up and down) will be attached to the rear of the stabilizer.

I have a full size blueprint so I decided to simply use it as a template and build right on top of the drawing. The curve of the stabilizer is made by bending 8 pieces of birch wood strips, epoxy’d one strip at a time.

The front leading edge turned out nicely and then I started adding the interior pieces and the trailing edge.

After the the interior pieces were epoxy’d and set, I cut a million (it seemed like it!) pieces of blocking to strengthen each of the connections.  After those connectins had set, I then cut sections of 1/16″ plywood gussets to cover several of them for additional strength.

But I also cut larger pieces of 1/16″ plywood to strengthen the leading edge of the stabilizer (top and bottom) – can’t get enough clamps when you’re gluing!

The stabilizer is almost done, but a major job is still left – I need to carefully shape the leading edge of that 8 piece glue-laminated “beam” into a curved bullet-shaped section. It’ll be roughly a 3/4″ radius.

Ultimately, the whole thing gets covered in fabric.

Yesterday I forgot that it was the first Saturday of the month. I’m a member of the Experimental Aircraft Association (EAA) and our chapter sponsors a youth program called the “Young Eagles”. This program gives kids their first airplane ride and every first Saturday pilots from our chapter bring their airplanes and donate their time for those flights.

While the kids wait for their flights, many of them wander into our hangar and it’s fun to show them “stuff” involved with building.

I set up a place for these two boys to learn how to use a drill, use clamps to hold the wood, change the bits, etc. Who knows – maybe someday they’ll want to build their own airplane!

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