Politics is wild and woolly and never dull. While millions of Americans struggle with declining home values, the sub-prime fiasco and the huge credit crunch, Congress is trying “to do something”, but philosophies on what to do veer wildly across the spectrum. Read the rest of this article »

This is the April newsletter. We are having a speed dating REO caravan next month for Ventura. Also, read all about our new BLOG feature! There’s good reading about the Senate’s proposal of a $7,500 tax credit for buyers of a foreclosed home.

A leading indicator of real estate activity is pending sales – homes that have just gone into escrow. Buyers have put down hard cash as their security deposit for their offer and their offer has been accepted by the sellers.

We just compiled the March pending sales, comparing first quarter 2008 to first quarter 2007. Some big surprises! Oxnard is screaming up in home sales, Ventura is about even, but Camarillo for some reason is still “in irons”. You sailors out there know what that expression means!

The media may have you believe real estate is “in irons”, but these statistics for Ventura, Oxnard and Camarillo tell a different story!

Here are the March statistics for homes sold in Camarillo, Oxnard and Ventura. Oxnard is seeing a 19% spike in the number of single family homes sold since February.

The number of days a home is on the market is down dramatically for Camarillo, Oxnard and Ventura. This means there is greater buyer demand and homes are selling faster.

Prices have generally gone down for the three cities but it depends on the size of the home. The smaller homes in Camarillo and the largest homes in Oxnard increased in sold price. Ventura saw twice the number of larger homes sold than February but with fewer over the $1,000,000 range.

Condo prices in Camarillo and Ventura decreased since February.

According to a news article on KNX1070.com titled Senate Promising Help to Homeowners, one of the items in the Senate’s plan is a “$7,000 tax credit for people buying new homes or properties in foreclosure”. Read more…