Wednesday, March 02, 2005

Affordable housing in Ventura - New 2005 $ amounts

Wednesday, March 02, 2005

The City of Ventura has just issued the new affordable housing prices on the Affordable Housing Program. The information will be up on their web site starting tomorrow (Wed 3-2-05) at .

This is very disappointing news to the residents of Northbank Greens, Seneca Highland, Los Cabos, La Paloma, Country Groves and Country Harvest Developments. Last year these residents were blessed with a hefty raise in pricing from the government. This year the 4 bedrooms have gone down and the 3 bedrooms have gone up (but not by much!).

I was told on the phone that the limit for a 4 bedroom moderate income home has dropped to $402,313. The 3 bedroom has gone up to $346,963. This is great for anyone trying to buy in these developments but terrible for the sellers who thought they would make much more money this year.

Loraine, Realtor


At 3/02/2005 7:13 PM, Blogger Hope Goss, Realtor said...

A decrease in value was very unexpected. This really showcases the pros and cons of owning in an "Affordable Community". The pro being owning your own home for less and the con being very limited in the resale process. I look forward to hearing more about how the city came to the decision to lower the limits.


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