Ventura County Real Estate Doing’s for Week Ending August 23, 2008
August 24th, 2008 Categories: Weekly Real Estate Activity In Ventura County
The Olympics, Little League World Series and very limited negative real estate news.
The Ventura County weather has been outstanding, the ocean water has been great. One wishes this could continue for the rest of the year but that cannot happen.
The most negative real estate news is the down grading of Freddie Mac and Sallie Mae stocks (which was expected). Other negative news focused on inflation in the economy and significant coverage has been on-going about other nations facing the same economic problems as we in the United States.
Russia is flexing its’ muscles so one should anticipate some rough going regarding our relationship with them (which hasn’t been all that great anyway).
Ventura County real estate continues to stabilize. The week to week assessment shows that inventory continues to decrease; sales continue to increase; the variance between list price and average sales prices of homes sold continues to be high (about 5.7% meaning that there is still stiff negotiating between buyers and sellers with buyers coming out the better. But this is changing).
It does appear that sales have slowed over the last several weeks which is normal for the summer months.
One should read the article http://www.venturacountyretalk.com/2008/08/23/brief-summary-of-benefits-of-seller-financing/ for an option to consider in selling a property.
Side bar: I will start a small series of discussions on people becoming their own bankers in order to move property, perhaps increase their monthly cash flow and leave a legacy for their children and other love ones.
The reference article “Brief Summary Of Benefits Of Seller Financing” is a start and an accepted IRS method of selling a property. Its use has been somewhat limited but it can be of help for some people to defer capital gains taxes on property sold.
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