FEMA is proposing changes to boundary areas for 100 year flood zones that primarily affect the Oxnard area. Homes that are in these areas will be required to obtain flood insurance. There will be a community meeting at 7 p.m. on July 8th at the Oxnard High School Performing Arts Center at 3400 W. Gonzales Road. Here is FEMA’s fact sheet, and here is their map (9.5 MG).

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 »

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 »

Section 110 – Assistance to Homeowners encourages homeowners to take advantage of the Hope Alliance’s “Hope Now” program. It would appear that great political pressure will be brought to bear on those lenders to now modify the terms of mortgages “underwater” or in serious trouble. Read the rest of this article »

Agents hate ‘em. Buyers get frustrated. Sellers get angry, scared, and ultimately, resigned. But for many price levels (especially entry level), short pays make up much of the available inventory these days and everyone is learning how to deal with them. So – what’s the deal with short pays? Why all this angst? Read the rest of this article »