By Don | October 14, 2011
Leslie posted her detailed statistics for Ventura, Oxnard and Camarillo yesterday and I was very curious to see if I could see any trends starting to emerge. With all the negative housing news in the media (nationally), I wanted to see what was going on in our neck of the woods.
What surprised me was the trending of number of homes sold over the past 12 months - trend lines are up strongly for all 3 cities.
As far as trending over the past 12 months for home prices, Camarillo has softened, but Ventura and Oxnard have remained flat, which isn’t bad all things considered.
Leslie has started showing the percentages of distressed sales (foreclosures and short sales) and it’ll be interesting to see how those change over time. It would appear lenders are beginning to get more aggressive in starting foreclosures so I wouldn’t be surprised to see those percentages begin to increase a bit over the next several months.
By Don | September 30, 2011
Starting tomorrow, the loan limit will drop from $729k to $598,000 ($625k in other markets) as Fannie and Freddie attempt to reduce their financial risks in the shaky housing market. Taxpayers have kept the 2 giant organizations afloat with billions of $$, and policy makers are trying to wean the wobbly real estate industry away from further subsidies.
But with billions having already gone to bankroll the banking and other industries (GM), a lot of us in the real estate industry think now’s not the time to reduce the loan limits in the expensive east and west coast markets.
By Don | June 24, 2011
This was the title of a major Wall Street Journal article this week.
The sub-title was “Three essential clues may signal if better times are ahead”.
I was curious – what were the clues? From a twist on the old “location, location, location”, the WSJ asked: What are the three most important things to consider when buying a house? Answer: Jobs. Jobs. Jobs. Read the rest of this article »
Filed under article topic:
Housing Market
By Leslie | June 8, 2011
The percentage of single family homes that were distressed sales in the month of May are:
Ventura – 37%
Oxnard – 67%
Camarillo – 44%
Quarterly graphs for 2nd quarter will be published in early July.
Sold prices – Single family homes in Ventura, Oxnard, Camarillo:
- 12 month graph
- Ventura is trending upward to $430k; Oxnard is holding steady in the $290s; Camarillo peaked last Fall and is now on a downward trend in the high $400s to $500k.
Sold prices – Condos in Ventura, Oxnard, Camarillo:
- 12 month graph
- Ventura peaked in December and January in the $240s, now in the low $200s; Oxnard peaked last Fall at about $230s, now in the $170s; Camarillo peaked in November and December at $310k, turned downward to March at $240s, and now trending up to $270s.
Numbers sold – Single family homes in Ventura, Oxnard, Camarillo:
- 12 month graph
- Ventura, Oxnard and Camarillo all hit a low in January. Ventura has recovered with a spike in April; Oxnard has bounced back and holding; Camarillo has recovered with a spike in March. Read the rest of this article »
By Leslie | May 10, 2011
The percentage of homes that were short pays in the first quarter of 2011 are:
Ventura – 20%
Oxnard – 26%
Camarillo – 25%
Sold prices – Single family homes in Ventura, Oxnard, Camarillo: Ventura, Oxnard and Camarillo mirror each other for the past 3 months – a bit upward from February to March with April trending downward.
Sold prices – Condos in Ventura, Oxnard, Camarillo:
Numbers sold – Single family homes in Ventura, Oxnard, Camarillo: Ventura is moving upward, Oxnard is a bit in the rise and Camarillo is trending downward.
Read the rest of this article »
By Don | April 26, 2011
Catching up on reading my day old Wall Street Journal this morning, an article on page 2 caught my eye. It said aspiring homeowners should have the upper hand this spring, but it doesn’t feel like a buyer’s market. Why? The WSJ quoted the CEO of Redfin saying that the mood of buyers was “nasty” because “customers just keep getting outbid on the houses that they want”.
The article mentioned a woman who sold her home in Redondo Beach in a month, but got outbid on four homes at a lower price point in Eagle Rock. Some sold to buyers for all cash. Another buyer, who only has a 3 1/2% down payment with his FHA loan, is at a disadvantage against cash buyers and was quoted as saying “It’s a false buyer’s market. If you think prices are cheap, wait until you start putting offers in”.
Attractive inventory is limited. A lot of it is mundane and pedestrian, requiring imagination and creative juices to meet today’s expectations for style, design and functionality. So when a sharp property comes on the market, multiple offers can come in, and the “highest and best” offer not only will be a higher offer, but will also be one with a big (or all) cash down payment.
By Leslie | March 14, 2011
Foreclosure activity for January was showing a downward trend. Check out the continuing declining trend of foreclosures for February on this 12 month graph.
The quarterly trends will be updated after the end of first quarter ending in March.
By Don | March 3, 2011
On Monday night, the City Council spent most of the evening considering various housing related issues. Culminating almost 3 years of stakeholder involvement (homeless advocates, landlords, city staff, etc), the Community Development Director presented the City Council its report.
Much of the discussion concerns “bootlegged” dwelling units (converted garages, un-permited room additions, etc), but what concerns a lot of Realtors is a proposal for an official, notarized inspection of all home sales in the City, provided to the City, conducted by a local certified home inspector (the “Local Resale Inspection Report Program”). See page 9 in the report. There would be fees involved for this report to the City.
In my personal opinion, this is completely unwarranted and unjustified. There is no reason the City needs to become so intimately involved in this intrusive manner of “big brother”. There will now be hundreds of dollars of extra cost for a home inspector to go to City hall to review the permit file, then act as an appraiser and measure the square footage of the home, determine number of rooms, etc, then have his report notarized before turning it into the City.
Unbelievable! How can this creeping bureaucracy continue? Have these people lost their common sense? I say – enough already!!
By Leslie | January 10, 2011
Here you’ll find quarterly and monthly real estate activity in chart form for homes sold in Ventura, Oxnard and Camarillo and also the data particulars for each city. All data is taken from the Ventura MLS, Oxnard MLS and Camarillo MLS.
Sold prices – Single family homes in Ventura, Oxnard, Camarillo:
Note how the quarterly trend lines parallel each other for the three cities since 2007. Sold prices for homes are going up in Camarillo and down in Ventura while Oxnard remains steady. The monthly chart shows the volatility of sold prices in Camarillo and a downward price trend for Ventura.
Sold prices - Condos in Ventura, Oxnard, Camarillo:
Fourth quarter shows a slight trending up for all three cities for sold prices for condos.
Numbers sold – Single family homes in Ventura, Oxnard, Camarillo:
Quarterly – Oxnard shows the strongest decline in number of homes sold since the last quarter of 2008. Month to month shows Camarillo spiking up in number of homes sold.
Detailed statistics for single family homes sold in:
Detailed statistics for condos sold in:
Detailed statistics for pendings (in escrow) – single family homes and condos sold in:
Comparing fourth quarter for number of homes in escrow to past years shows Ventura is down a bit from 2008 and 2009; Oxnard is substantially down and Camarillo is markedly down from 2009 but matching 2008.
By Leslie | October 15, 2010
The number of foreclosures has been big in the news but what Ventura County residents really care about is what’s happening locally – not in another county or another state. See the chart for the last 12 months. The Notice of Defaults and Trustees Deeds are on the rise, while the number of Trustee Sales is trending downward
The quarterly chart shows NODs on the rise, NTSs are see-sawing and REOs are rather flat.
Data courtesy of Foreclosure List Service.com.
