805 Local

We were talking the other day about what happened during 2008 in the local Ventura County real estate market.  We thought you, too, would be interested in hearing reading our combined observations.
Looking back down the 2008 real estate road -

Many sellers who could not get ‘their price’ took their house off of the market and decided to wait or rent [...]

We have this warm-hearted client, Kay Wolverton Ito, who for the last couple of years has been spearheading a “Barbie Care and Share” program.  To date almost 300 dolls have been donated  to Ventura County agencies such as Casa Pacifica and Aspiranet.  Kay has combined her interest in Barbies with charitable giving, then adds a [...]

The new Conforming loan limits have been announced for 2009!!  What does that even mean??  Well, if you are thinking of buying a home soon, it could mean a lot to you.  As of right now, the Conforming loan limit is $417,000 for Ventura and Los Angeles County.  That means that the “cheaper” money (lower rates) can [...]

As a loan officer who has worked in Ventura County for over 27 years, I’ve seen the processing and underwriting of home loans change dramatically.  Before it all went to “tighter guidelines” (that’s an understatement), the loan officer could be nothing more than an order taker.  “Yes, sir.  May I interest you in a Home Equity Line of [...]

If you live in Southern California, you know what a ‘red flag’ warning is – it means high temperatures, Santa Ana winds, low humidity.  Close the windows, stay inside and secure the lawn furniture.  Get ready for Mother Nature to do her house cleaning……
If you are like us and sell real estate in Ventura County, a red flag means [...]

 
You are thinking about buying a bank-owned house which are also known as a REO or a foreclosed house.   Buying from a bank demands guidelines which are different than buying from a traditional homeowner.  Each bank/lender differs but there are similarities to each transaction.  
Here are lessons that we have learned by writing offers on bank-owned homes with our buyers:

Get [...]

What will they think of next?  Yellow watermelon! 
On a recent trip to Underwood Farms in Somis we found yellow watermelon.  We were kind of reluctant to try it but so glad that we did.  We were told the watermelons were grown here in Ventura County. 
Yellow watermelon has great texture and taste.  Very crisp and clean.  When it is cut up and [...]

California Assoication of Realtors just released the sales stats for the state for August.  Home sales statewide increased 56.7% in August compared to the same period a year ago
Ventura County sales per California Assocition of Realtors were up over 13% in August 2008 compared to August 2007.
This is encouraging news!

Yes, and here’s why.  When the market is as volatile as it has been recently, several things hold true: 1) Rates Rise like a Rocket and Fall like a Feather  2) Lenders are very quick to reprice  3) Rates MOVE FAST when they get started.  Here’s how to protect yourself.
Use a lender that will let [...]

Steal and deals are out there!  It is the time for first-time buyers and investors to start coming out of the woodwork.  But how do you know if the price is a ‘hot buy’?? 
Here’s how we determined  a ‘hot buy’ — First of all,  we looked at each city individually.  To be marked a ‘hot buy,’ the [...]