I was just looking this morning at a new Countrywide REO listing in the McKeon condos with an asking price of $148k. It last sold in 2006 for $352,000. Investors are renting out these units for around $1,200+ a month, but what would the payments be for a Ventura homebuyer at today’s low prices and interest rates? Here are the numbers: Read the rest of this article »

I was just looking at BankRate.com to see how the FHA interest rate has changed over the last couple of months (it’s plunged), and their chart says it all:

That’s why entry level buyers are coming out of the woodwork to snap up the REO and distressed sale properties!

I’m searching the Camarillo MLS for my client who wants to buy an entry level home in the Mission Oaks area and boy, was I surprised! Read the rest of this article »

Actively working with a buyer this week, who is looking for an entry level (plus or minus $400k – preferably closer to $350k), single family home in Ventura, has brought shades of 2003 back to mind. It’s crazy out there! Read the rest of this article »

The California Association of Realtors (CAR) has just published updated links and fact sheets for the loan modification programs of the larger lenders plus government entities.