Realtors for Ventura | Oxnard | Camarillo

A new feature of trendlines has been added recently to the three 12 month graphs to give a quick visualization of the numbers sold and the sold prices in Ventura, Oxnard and Camarillo.

Also featured is the percentage of single family homes that were distressed sales in the month of  September are:

Ventura – 37%      Oxnard – 68%      Camarillo – 47%

Sold prices – Single family homes in Ventura, Oxnard, Camarillo:

• 12 month graph
• Quarterly graph ending Q3

Sold prices – Condos in Ventura, Oxnard, Camarillo:

• 12 month graph
• Quarterly graph ending Q3
  

Numbers sold – Single family homes in Ventura, Oxnard, Camarillo:

• 12 month graph
• Quarterly graph ending Q3

Detailed data for single family homes sold in:

• Ventura
• Oxnard
• Camarillo

Detailed data for condos sold in:

• Ventura
• Oxnard
• Camarillo

Detailed monthly data for pendings (in escrow) – single family homes and condos:

• Ventura
• Oxnard
• Camarillo

All data is taken from the Ventura, Oxnard and Camarillo MLS.

With the 4 wings all finished now on my Tiger Moth project, and after attending a huge airshow in Wisconsin this summer (EAA’s Oshkosh show), I got the crazy idea – could I power my Tiger Moth on electricity?  How cool would that be?!? The short answer is no – because energy storage isn’t there yet.

But this past week, NASA (with Google sponsoring prize $$) had a competition under the CAFE (Comparative Aircraft Flight Efficiency) foundation with a top prize of $1,350,000 for the winner, to be announced on Monday (yesterday).

Because most of the aircraft were electric (or hybrid), I was very interested so Leslie (bless her!) and I went up over the weekend to see these e-airplanes. Who won?

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Being in the business, we get this question from time to time – and it’s impossible to answer in a sound bite! The short answer is that there are too many variables for a quick number like 4%.

What kind of loan? Conventional, FHA? What’s the loan to value (LTV)? What’s your credit score? Do you want an interest rate lock? For how long? How much is the loan? Over the $417k conforming limit? What’s your back end ratio (debt to income ratio)?

Let’s take a look at a recent matrix to see how, with conventional financing, variations in FICO scores and loan to value (LTV) amounts affect interest rates…

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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.

The trend line for Ventura County Notice of Defaults (first stage of a foreclosure) had seen a gentle decrease over the past 12 months until August, when the numbers dramatically shot up.

Specifically, July saw 401 Notice of Defaults but August recorded 678, an almost 70% increase. It takes a minimum of 3 months before a Notice of Trustee Sale can be recorded, and another 21 days before the auction can be set, so we won’t see a spike in REO properties until at least the end of the year.

Also, we’ve seen a lot of properties where the lender sets an auction date, but delays the sale month to month for many months. Shadow inventory issues??

Whatever the reason, it would appear lenders are rapidly stepping up their foreclosures in the County.