The Ventura County real estate market once again reversed course to the upside in October,2009.
It appears that the real estate market wants to get legs BUT other economic issues stand in the way.
The table below shows that approximately 75% of Ventura County home sales have occurred in the price range below $ 500,000, with 2955 single family homes selling between $ 200,000 to $ 400,000.
Investors and 1st time home-buyers took advantage of prices and tax credits.
There was a niche mar... Read Full Story
Today when this term is used it is hoped that something will be created out of nothing. This ancient Aramaic roots (Avrah KaDabra) means “I create as I speak”.
Well over the last week the real estate market in Ventura County did an “Abracadabra” and the down trend that had been in place for two months reversed itself and start upward with some conviction I might add.
As can be noted in the table below the market had been laboring over the last two months showing signi... Read Full Story
Mentioned previously was the anticipated real estate contraction that is now occurring in Ventura County. It’s the clown in the box scenario that is taking place.
Listings continue to decrease (1932 last week; 1859 this week); sales however climbed and it is probably due to the paper work being delayed in recording sales therefore the prices which had been going down now appears to have stabilized over the last week.
The chart below summarizes the last weeks statistical numbers. Howe... Read Full Story
Much is being written about real estate turning the corner. Nationally this is true but locally (Ventura County) there are signs that perhaps the up-tick that was experienced over the last three months may have played itself out.
Through August, 2009 there has been a significant decrease in home sold that were in the $ 500,000 or less category. As illustrated in the chart below properties in the $ 200,000 or less sales bracket declined from 309 homes sold in the 2nd quarter, 2009 to 117 ho... Read Full Story
The real estate market Nationally appears to be getting better. Likewise the market in Ventura appears to be continuing its upward swing but it appears to be labored.
As shown in the table below there has been a significant drop in recorded sales over the last week, offset with a gain in listings. The overall Ventura County market still shows as a sellers market but two areas flipped to buyers markets over the last week. These area are: Santa Rosa Valley and Ojai/Oak View.
Recorded averag... Read Full Story
After awhile statistical information being just numbers becomes mesmerizing and some common sense has to come into play.
The numbers do what numbers are supposed to do….lay out what is happening and it is up to the individual to wade through and make sense of what that happening is.
This week for some reason the numbers are saying one thing but my gut instincts are telling me something else.
The real estate market has been going up and that is GOOD news. And as expected it is going up ... Read Full Story
The residential real estate market in Ventura County has exhibited more of the same……QUIET!
As can be noted in the table below listings have now shown signs of life (more people want to sell); sales continue upward and they are doing so at higher prices (which is GOOD). With the exception of Santa Rosa Valley all communites are showing higher sales as compared to one year ago. The beach areas are the only segment now showing up as a “buyer’s” market. The rest ... Read Full Story
It’s SUMMER and it’s telling on the real estate market.
Normally at this time of year people who want to buy are out in full force looking and planning to move, and if they have kids, registered in their new school. They want to get over with before school starts.
But the economy has many people concerned about jobs so the norm has changed.
Until unemployment shows signs of decreasing (which it is not); until there are more new jobs being created (which isn’t the ca... Read Full Story
July 4 Fire Works
We are celebrating our 4th of July and many of us witnessed the sparkles in the night sky to remind us of our Country’s birthday.
As with the Country’s birthday real estate is now showing signs of sparkles as well.
Not with the dazzle of what we saw in the night sky on the 4th. It is somewhat more mute in the market place but the amber’s are there and when this side-way activity is complete there will a significant acceleration upward in home prices.
... Read Full Story
Ever so slowly the real estate is starting to move upward.
Politics will play a hand which will delay the acceleration of price movement but eventually the market will march to its own music.
This upward movement is not only occurring in Ventura County but is taking place throughout the United States.
For investors I am still recommending Oklahoma (Oklahoma City and Enid); Texas and I still recommend that one keeps an eye on Michigan. I will go into more detail for investment properties in... Read Full Story
