By Don | June 3, 2009
With the rapid reduction in inventory levels we’ve seen this spring, it’s no surprise prices are finally going back up. Here are the numbers.
If you’ve even been thinking about buying a home but have been waiting for the market to “hit bottom”, these numbers may surprise you – especially now that prices have gone up the past 2 months.
By Don | May 5, 2009
Yesterday’s LA Times business section’s main article talked about the fact it’s not necessarily a buyer’s market out there, especially in entry level priced homes. Multiple offers, often over asking price. Bloomberg News reported this morning that “pending sales of U.S. existing homes posted their first back-to-back gain in almost a year in March and construction spending ended a six-month slide, spurring a rally in stocks”. Plus, the stock market’s been on a rally for 7+ weeks or so. Historically, the stock market tends to lead any recovery. Locally, inventory is way down (especially Oxnard and Camarillo). What does this all mean?
By Don | April 6, 2009
In January, Leslie and I sensed there weren’t as many homes for sale in Ventura – more of an anecdotal feeling than scientific analysis. I remember checking in late January that there were 200 single family homes for sale in Ventura (Realtors call it Area 20 in the MLS – not to be confused with Area 51 in Nevada…!). Then in mid-February I decided to formally check and track inventory levels for Ventura, Oxnard and Camarillo. Here’s what I found. Read the rest of this article »
By Don | April 6, 2009
Over the weekend I caught up on my Wall Street Journal reading, and Friday’s column of “Heard on the Street – Financial Analysis and Commentary” had a title that caught my eye – “Dream Mortgage Bailout Has a Darker Side”. Hmm, I thought. What’s that all about? Read the rest of this article »
By Don | April 3, 2009
Is a bird in the hand worth 2 in the bush? I was musing at my desk this morning about all things real estate, the stock market, the jobs loss report and the incredibly low interest rates out there. So I asked myself, which is better? To buy today with today’s low interest rates (with the possibility prices may still decline 5%), vs. the idea of waiting for prices to stabilize and then start up (but that interest rates will have climbed back to “normal” to compensate for that stabilization). Here’s how the numbers look…
By Don | April 1, 2009
Yesterday, the California Association of Realtors (CAR) copied a page from Detroit by announcing a mortgage protection program for first time homebuyers. Earlier this week, GM and Ford announced the same concept for car buyers concerned about buying a car but uncertain about their job in this economy. Keep reading for all the details…
By Leslie | March 30, 2009
We did it! 9 REO (bank owned homes) in about 90 minutes! Following our first time homebuyer seminar last Thursday, Saturday’s caravan was intended to show a variety of neighborhoods, price ranges, and condition of homes (some gorgeous, some “fixer uppers”) in Ventura. We call it “speed dating” because we’re into and out of each home FAST – 5 minutes max!
By Leslie | March 27, 2009
We had about 16 people attend our first time homebuyer seminar last night at the CitiBank conference room in Ventura. Don covered the new $8,000 first time buyer tax credit and financing. In the second half, I covered “reality checks” first time buyers face, plus reviewed the Residential Purchase Agreement which covers the rights and responsibilities of both the buyer and seller. Tomorrow (Saturday) we take these folks on a “speed dating” caravan of REO properties in Ventura – weather looks great for a fun morning!
By Leslie | March 12, 2009
The $8,000 first time buyer tax credit is now law. The Stimulus Bill was signed on February 17th. But will fear keep homebuyers from using it? Read the rest of this article »
By Leslie | March 6, 2009
Realtors can use all sorts of acronyms, buzz words – stuff that only those of us in the business understand. COE stands for Close of Escrow. The +1 (or 2 or 3) means the seller gets to stay in their (former) home after escrow has closed – meaning it’s now on the buyer’s dime! But why would a seller want to stay in their (former) home after escrow has closed? And why has the “17 day thing” changed all the old ways of doing things? Read the rest of this article »