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 »
By Don | March 2, 2009
On Friday I met with an investor who owns a number of rental properties by the SeaBee base. I told him, “I’ve got good news and I’ve got bad news”. The good news is that inventory is way down from last summer. The bad news (for investors like him) is that property values have plunged. Here is detailed data of active listings, homes in escrow, and sold listings for a micro section of Oxnard: Read the rest of this article »
By Don | February 25, 2009
I was just looking this morning at a new Countrywide REO listing in the McKeon condos with an asking price of $148k. It last sold in 2006 for $352,000. Investors are renting out these units for around $1,200+ a month, but what would the payments be for a Ventura homebuyer at today’s low prices and interest rates? Here are the numbers: Read the rest of this article »
By Don | February 25, 2009
I was just looking at BankRate.com to see how the FHA interest rate has changed over the last couple of months (it’s plunged), and their chart says it all:
That’s why entry level buyers are coming out of the woodwork to snap up the REO and distressed sale properties!
By Leslie | February 24, 2009
I’m searching the Camarillo MLS for my client who wants to buy an entry level home in the Mission Oaks area and boy, was I surprised! Read the rest of this article »
By Leslie | February 20, 2009
Actively working with a buyer this week, who is looking for an entry level (plus or minus $400k – preferably closer to $350k), single family home in Ventura, has brought shades of 2003 back to mind. It’s crazy out there! Read the rest of this article »
By Leslie | February 17, 2009
When people are looking on our site at the Ventura MLS, they will frequently see a home listed not as “Active” but “Contingent back up”. Can you really buy that home? Is it really for sale? Read the rest of this article »
By Don | February 17, 2009
I just hit the “Publish” button for this article moments after Obama signed the new stimulus package – it’s now law. But how is this $8,000 different than the $7,500 deal Congress passed last year? Read the rest of this article »
By Don | January 30, 2009
As part of the $800+ billion stimulus package passed by the House yesterday, the $7,500 first time home buyer credit was modified so that it is a true credit, and not more of a loan. Read the rest of this article »