All Down Hill To The Beach-Staying True to Cool

Reading a magazine recently gave me a clearer picture of just why I am so proud and happy to be living in Ventura. In the magazine article, Ventura was described as an undeniable 1960's flashback with tiny bungalows, taco stands, and surfboards. Relishing in the fact that Ventura has a classic mix of terrain with mountains & beach in the same local, the writer characterized Ventura as "Staying True to Cool". What was meant by this is that we have not succumbed to Los Angeles sprawl, but have kept our small town flavor in tact. Snobbery remains rare here and there is no typical Ventura type person. It is this small town flavor that I personally love, as well as the undeniable coastal location. There are 258 sunny days a year and 43 miles of beachfront in Ventura County. It is truly a unique paradise.

Considering Ventura's unique and loveable nature, it is a pretty sure bet that real estate here will always be in demand. So, if a beach style life has always been your dream, now might be the time to buy a home here. Acquiring a home near the beach will not get easier over the years as there are only so many homes available. This surf town holds on to its property as well as its original California spirit. If you don't live here, come visit us! You will love Ventura and want to stay forever.

Search the MLS at:
www.JanisCalkins.com
(805) 218-7016

Economic Focus - Hot to cool

A newsletter from Chicago Title and Escrow Company states "The signs are clear".

• Climbing inventories and longer market time are back again.
• Rising interest rates, tightening credit underwriting and more traditional loan packaging are lowering the ranks of qualified homebuyers.
• Buyers are noticing the increasing inventories, taking more time to purchase, being more selective in their choices and more conservative with their price offers.
• Creative seller financing is back again as evidenced by seller incentives offered to potential buyers.

This does not mean the sky is falling on the housing industry. It more likely means that the housing market is returning to more normal conditions. Greater selections and lower pricing are good news for qualified buyers.

Lorraine Email: LorraineBurns@sbcglobal.net

(805) 901-8805

www.VenturaRealEstate24-7.com

Some interesting stats from CAR Newsletter

Here are the latest statistics from the California Association of Realtors Newsletter:

Calif. median home price - Dec. 05: $548,430 (Source: C.A.R.)

Calif. affordability index - Nov. 05: 14 percent (Source: C.A.R.)

Calif. highest median home price by C.A.R. region Dec. 05: SANTA BARBARA So. Coast $1,300,000 (Source: C.A.R.)

Calif. lowest median home price by C.A.R. region Dec. 05: High Desert $320,490 (Source: C.A.R.)

Mortgage rates - week ending 2/2:30-yr.
fixed: 6.23%; Fees/points: 0.5%
15-yr. fixed: 5.81%; Fees/points: 0.5%
1-yr. adjustable: 5.33%; Fees/points: 0.7%(Source: Freddie Mac)


Lorraine Burns, Realtor
(805) 901-8805

Top Mistakes in 2005 of Home Buyers per Broker Agent News

1. Buyers bought properties to flip at top-of-the-market prices.
2. Buyers utilized interest-only mortgages.
3. Buyers overlooked resale characteristics.
4. Buyers skipped doing the home inspection.
5. Buyers misinterpreted developers give-away's.
6. Buyers didn't read homeowners association documents.
7. Buyers neglected to request rates of state, county or local transfer taxes paid by buyers at closing.

If you are going to be a buyer in 2006, put these to good use in your transactions.

Lorraine
(805) 901-8805
www.VenturaRealEstate24-7.com

Trading Up or Trading Down? Do it Now!

Now is a great time to consider selling that condo or smaller home and moving up. Don't wait until interest rates rise. There are many homes on the market right now and it is really a good time to be able to really look for that home you've always wanted. Unlike this past summer when you had to make an offer in the first few days, things have slowed enough that you can actually take the time to shop a bit. However, there are still buyers out there, so if you do see that special place you have been waiting for...hop on it! If you are planning on staying in the area for awhile, it is definitely still a wise move. Also, if you are 55 years and older you may want to consider the opposite move right now. You can buy a property for equal or lesser value than your current home's value and keep your old property tax base. This is a great tax relief measure for people who want to downsize as they grow older. Call me if you have questions or I can be of help!

Janis Calkins, Agent
California Oaks Real Estate
www.JanisCalkins.com
805 218-7016