52% of the Active Listings are distressed properties (either short sales or Bank Owned), the amount of inventory in Oxnard is decreasing, while demand is picking up, this will create multiple offers especially on lower priced properties.

87% of the Under Contract Listings are distressed properties, this illustrated demand for these properties, resulting many times in multiple offers.

61% of the Sold Listings are distressed properties.

Days on Market for Active Listings is 121.

Days on Market for Listings under Contract is 97.

Days on Market for Sold Listings is 157.

I hope you found this Oxnard Real Estate Market Report helpful.

22% of the Active Listings are distressed properties (either short sales or Bank Owned), the amount of distressed properties on the market is decreasing.

75% of the Under Contract Listings are distressed properties, this illustrated demand for these properties, resulting many times in multiple offers.

51% of the Sold Listings are distressed properties.

Days on Market for Active Listings is 153.

Days on Market for Listings under Contract is 159.

Days on Market for Sold Listings is 157.

The term Agency has always baffled me, seems it would make more sense if we just called it the actual relationship between Real Estate agent, brokerage and seller or buyer, but we don’t and we are stuck with “Agency”.

However, it is VERY important, whatever it is called, that sellers and buyers of Real Estate understand the various relationships that exist both on paper and in reality because it can play a huge role in their negotiations and in their transaction.

Agency really just means relationship, who is it that is representing you as the seller or as the buyer.  In CA, we have 3 type of agencies or relationships.

One is the agency or representation of a seller exclusively, kind of like having your own attorney when you go to court representing you against the other side.

The second agency or representation is of a buyer exclusively, again, like going to court with your own attorney representing you against the other side.

The third agency or representation is of both parties at the same time.   Sort of like going to court and being represented by one attorney for both parties…. WHAT!  Yes, here in CA, it is not illegal for a Real Estate agent to represent both a seller and a buyer, it is called “dual agency”.

It is also important for sellers and buyers of Real Estate to understand that the agency is the brokerage or real estate office that the real estate agent hangs their license in. The real estate agent is the sub-agent.

Dual agency is in place if both agents are from the same brokerage firm, not even the same office and may not know each other.

Some of these dual agencies are not concerning, per se, like two different real estate agents (sub-agents) from the same brokerage, one representing the seller and one representing the buyer, however both parties involved in the transaction should understand this relationship.

The dual agency where one brokerage and one agent is representing both the seller and the buyer really needs to be understood by both parties.  While this relationship is not illegal in CA, some believe it is a conflict of interest.

Here in CA, a Disclosure regarding Real Estate Agency Relationship (explains all the relationship and the duties of the agent’s for each)  is required to be given to a seller before the listing agreement is entered into and this same disclosure is required to be given early in the buyer relationship but no later than before the purchase agreement is signed.

This is an excerpt from the California Association of Realtors website re Agency
The term, “agency disclosure” really should be called “agency education” because the agency disclosure form (C.A.R. Standard Form AD) is a statutorily-defined form that educates the seller and the buyer as to the duties and responsibilities of a listing agent, selling agent, and dual agent. It’s purpose is not to select who is representing whom. The function of the “agency confirmation” paragraph in the purchase agreement or the “agency confirmation” form (C.A.R. Standard Form AC-6) is to inform the seller and buyer as to who is representing whom and whether or not an office is acting as a dual agent in this particular transaction. Thus, the term “agency confirmation” really means agent representation selection.

Agency means relationship and every seller and buyer of Real Estate should be aware of who is representing your best interests in one of the most important transactions of your life,  your home.

In my opinion, it is one of the best Festivals around.  Strawberries are the main ingredient, duh, that is why it is named The Strawberry Festival, but there is so much more to enjoy than all the strawberries delights.

More than 250 artists and crafters from across the nation will be there showcasing their original works.  You will be able to buy “made in the USA”  items that you simply cannot find any other place.  The items for sale range from painting, sculptures, ceramics, children’s toys, accessories, photography, textiles, outdoor furniture, jewelry, candles and so much more.  I am always amazed at how much talent these folks have to create the one of a kind items that they sell.

There is a contest area, where one can enter the Strawberry Tart Toss or the Strawberry Pie Eating Contest!

And for the kids, they will have so much fun in Strawberryland.  Here the kids will be entertained all day long by juggling clowns and puppet shows. They can have their picture taken with Strawberry Shortcake, they can bounce in the bungee bounce or attempt the climbing wall, ride the berry go whirl or the mini train, just to name a few fun kid things to do in Strawberryland.

Ok, so what about food?  Just head over to the food court and you can find the “Build your Own” strawberry shortcake tent, this is a must stop for my husband and I. In addition to strawberry shortcake, you can find strawberry pizza, chocolate dipped strawberries, strawberry margaritas, strawberry wine, strawberry smoothies and the list goes on. Who knew you could be so creative with a strawberry!

There are many other “non strawberry” food booths with such varieties of food, it will test your palate and decision making ability for sure.  And the best part is all the sales from the nonprofit food booths directly benefit the hosting charities.  Come hungry and then prepare to exercise later to burn the calories, fair warning, you will be tempted.

I understand the Strawberry Festival layout has been enhanced for this year’s festival for an even more enjoyable experience.

There is very limited parking, but check the Strawberry Festival in Oxnard’s website for all the shuttles which will get you to the Festival grounds in a very expedient hassle free manner and they are FREE!

I have already purchased my tickets, will be going with an empty stomach and with intent to buy some of those wonderful craft items.  See you there!

Title insurance is protection which assures that the rights and interests to the property are as expected, that the transfer of ownership is smoothly completed and that you as a new owner are protected from future claims against the property.

What do I mean when I say claims against your property? Well your home has been owned by someone prior to you purchasing it or the land has been owned by someone else and you want to be sure that there are no weak links or hidden risks in this chain of title passing to you. Some examples of weak links or hidden risks are forgery, incompetency or incapacity of the parties, fraudulent impersonation, and unknown errors in the records and any of these could provide a basis for a claim to the property after the property has been purchased.

Can you imagine purchasing a home and afterward someone says they have a rightful ownership to that property?

Title insurance is a bit different than other insurances like life, auto, home and health.  These other types of insurance cover future loss due to some happening of some future event, like car insurance which will pay for repair of a fender bender that happens in the future.  Title insurance provides for coverage for future claims or losses due to title defects which are created by some past event.

The other major difference between Title insurance and the other type of insurances mentioned above is the cost. The other types of insurances charge ongoing fees (premiums) for continued coverage. Title insurance is a one time fee paid for at the time of purchase and does stay in force as long as the owners or heirs own the property.

While it is a “closing cost”, Title insurance is a fairly reasonable expense considering what it protects and how long it is in force.

Don’t leave a home purchase without it!

EMD stands for Earnest Money Deposit. What is this Earnest Money Deposit? An Earnest Money Deposit is a sum of money that accompanies an offer. This amount illustrates to the seller a buyer’s good faith or how serious you are as a buyer, or how much skin are you willing to put in the game initially to get this particular home.

In ancient times, the earnest payment was called an earnest penny, and also known as Arles penny, God’s penny, or Argentum Dei. It signified money given to bind a bargain, especially for the purchase or hiring of a servant. According to Black’s Law Dictionary (sixth ed.), Et cepit de praedicto Henrico tres denarios de Argento Dei prae manibus.[1] Another related term was luck money, which was an amount given back to the buyer by the seller on the completion of a deal, for luck.

How much should be given for the Earnest Money Deposit? I would answer that by stating generally this is a conversation to have with your Realtor, they can advise you more specifically with regards to the specific property and according to the specific purchase agreement in their local or state area.

I suggest, generally that the amount of the Earnest Money Deposit not be more than 3% of the purchase price, but is can be as low as $1.00, which in my opinion does not offer a very appealing incentive to the seller to accept the offer.

What is the importance of the Earnest Money Deposit anyways? It demonstrates to the seller in most cases, just how committed to this property and transaction you are as a buyer. This Earnest Money Deposit must be delivered usually in 3 days to the stated escrow company on the purchase agreement or whatever timeframe is stated in the purchase agreement, It is cashed and held in an escrow account (without accruing interest, at least here locally in Ventura County) and will be considered a part of the down payment which is also stated on the purchase agreement.

This Earnest Money Deposit is sort of like insurance for the seller, if the buyer backs out of the purchase agreement transaction after removing contingencies, this Earnest Money Deposit could be lost and awarded to the seller. This is where you as a buyer need to speak with your Realtor to make sure all parties understand the terms of your particular purchase agreement.

I hope this is helpful in giving meaning to EMD.

The George Washington exhibit was very informative, especially the video showing how the researchers upon finding a clay mask of George Washington in his later years were able to use that to turn back the hands of time to create an image of him in his earlier years. The researchers even replicated his horse.

There was a mock up presentation of Mount Vernon, pictures and documents recording his view on slavery and Mrs Washington’s gold wedding dress as well as some pieces of her jewelry and china are on display.

In addition to the George Washington Exhibit, one of my favorite exhibits is the Air Force One Pavilion.

The pavilion that this plane is resting in, as well as some of the other presidential vehicles on exhibit is really very special. Air Force One faces a huge window of glass, which over looks the rolling hillsides of Simi Valley and it feels like it is flying as one looks out at the breathtaking scenery. The Ronald Reagan Library sits on 100 acres perched on a mountain top and has sweeping views of the surrounding mountains, valleys and the pacific ocean.  It was a spectacularly clear beautiful day, so the views were really magnified.

The library boosts more than 100,000 square feet of space and has 24 different galleries, making it almost impossible to absorb it all in one visit.

When we left the Ronald Reagan Museum  in Simi Valley, a caterer was setting up for a ROTC Ball.  What a specular venue for a Ball.

The average sales price did decline by approximately 7.9% from 2010 to 2011.  But the average sales price only dropped 1.9% from 2011 compared to those  Simi Valley Single Family Homes that sold in  the last 3 months of 2012.

The most startling fact presented by the data is the amount of Simi Valley Single Family Homes for sale.  Currently, there are only 176 Single Family Homes for sale in  Simi Valley , and that translates to approximately 1.8 months of inventory which by definition of the Market Absorption Analysis model would put  Simi Valley  Single Family Homes in a sellers market. 

Simi Valley has more inventory in the lower price range than any other community in Ventura County, however, demand is still  creating multiple offers on many homes because the demand is more than the supply.

The breakdown of available  Simi Valley  Single Family  Homes for sale is as follows:

• 39  Simi Valley Single Family Homes priced under $350,000

• 50  Simi Valley Single Family Homes priced from $350,001 to $450,000

• 24  Simi Valley Single Family Homes priced from $450,001 to $550,000

• 28  Simi Valley Single Family Homes priced from $550,001 to $650,000

• 22  Simi Valley Single Family Homes priced from $650,001 to $850,000

• 13  Simi Valley  Single Family Homes priced from $850,001 and above

For home buyers wanting to purchase a Simi Valley Single Family Home it is imperative that one must have pre approval letter in hand, proof of funds for the down-payment and closing costs and be ready to make their highest and best offer initially.

Hope you find the Simi Valley Real Estate Market Absorption Trend for March 2012 helpful!

The average sales price did decline by approximately 4.8% from 2010 to 2011.  The average sales price dropped 12.7% from 2011 compared to those  Moorpark  Single Family Homes that sold in  the last 3 months of 2012.

The most startling fact presented by the data is the amount of   Moorpark  Single Family Homes for sale.  Currently, there are only 65 Single Family Homes for sale in  Moorpark , and that translates to approximately 3.4 months of inventory which by definition of the Market Absorption Analysis model would put  Moorpark  Single Family Homes in a sellers market. 

One can see from this breakdown that the lower price range inventory is very low.  This shortage of inventory is creating multiple offers on many homes because the demand is more than the supply.

The breakdown of available  Moorpark  Single Family  Homes for sale is as follows:

•  7 Moorpark  Single Family Homes priced under $350,000

• 10 Moorpark  Single Family Homes priced from $350,001 to $450,000

• 17 Moorpark  Single Family Homes priced from $450,001 to $550,000

• 12 Moorpark  Single Family Homes priced from $550,001 to $750,000

• 12 Moorpark  Single Family Homes priced from $750,001 to $1 Million

•  7 Moorpark  Single Family Homes priced from $1,000,001 and above

For home buyers wanting to purchase a Moorpark Single Family Home it is imperative that one must have pre approval letter in hand, proof of funds for the down-payment and closing costs and be ready to make their highest and best offer initially.

Hope you find the Moorpark Real Estate Market Absorption Trend for March 2012 helpful!

The average sales price did decline by approximately 13.9% from 2010 to 2011.  The average sales price dropped 11% from 2011 compared to those Newbury Park Single Family Homes that sold in  the last 3 months of 2012.

The most startling fact presented by the data is the amount of  Newbury Park Single Family Homes for sale.  Currently, there are only 80 Single Family Homes for sale in Newbury Park, and that translates to approximately 2.6 months of inventory which by definition of the Market Absorption Analysis model would put Newbury Park Single Family Homes in a sellers market. 

One can see from this breakdown that the lower price range inventory is very low.  This shortage of inventory is creating multiple offers on many homes because the demand is more than the supply.

The breakdown of available Newbury Park Single Family  Homes for sale is as follows:

• 3  Newbury Park Single Family Homes priced under $350,000

• 11 Newbury Park Single Family Homes priced from $350,001 to $450,000

• 11 Newbury Park Single Family Homes priced from $450,001 to $550,000

•  9 Newbury Park Single Family Homes priced from $550,001 to $650,000

•  9 Newbury Park Single Family Homes priced from $650,001 to $800,000

• 23 Newbury Park Single Family Homes priced from $800,001 to $1,000,000

• 14 Newbury Park Single Family Homes priced from $1,000,001 and above

For home buyers wanting to purchase a Newbury Park Single Family Home it is imperative that one must have pre approval letter in hand, proof of funds for the down-payment and closing costs and be ready to make their highest and best offer initially.

Hope you find the Newbury Park Real Estate Market Absorption Trend for March 2012 helpful!