Watching Grass Grow!
April 26th, 2009 Categories: Weekly Real Estate Activity In Ventura County
The real estate market is just meandering; setting its base for the next cycle upward.
Much has been written over the last week of mortgage help. It appears that banks are just starting to get into the mortgage business however it appears that only 1 in 11 will be able to get help.
That means the other 10 people will probably go into foreclosure.
So be ready for another round of foreclosures will be coming to fruition in the next several weeks.
The financial sector is still trying to find its legs. Business is not creating new jobs at this time but it appears that government jobs are increasing significantly.
Unemployment is hovering around 11% but surprisingly not many government jobs at any level has been impacted. The stimulus money that States want appears to be a justification of increasing their payroll base.
There is a lot of BS going on in government with deflective stories being written to turn people’s attention away from our economic problems and creating bigger government.
Words uttered by any Federal or State representative should put one on guard.
What is being said is to make people feel good; what is being done will make people sorry and at a point they think there isn’t anything they can do.
An example is the “rainy day set aside” proposal that California will vote on this May. Sounds good to set something aside. It makes one think that someone is taking steps to do something right. But politicians being politicians when they see ”rainy day” funds they will justify taking of these funds for some other cause. There goes ”rainy day” funds.
So like Social Security which was set up as a set aside fund, later when monies were needed, its money was used, replaced by notes. I suspect this “rainy day” proposal is of the same vintage. As stated earlier, politicians say things that sound good; but later is when you really recognize what they really wanted to do.
We can start by removing those in office now and replacing them with new blood that understand and can manage the needs of the Country. We have too much “good ole boy” goings on throughout the Country. It is time to change to something better. As a first step maybe we should start “recalls” now, replacing Federal and State representatives. That clean house each two years.
As mentioned last week if you don’t like them remove them. Recalls is a start.
I found it interesting that the Congress had sessions relating to earth warming. The interesting part was they would not allow any rebuttal or opposite views to be heard at these sessions. Meaning: our minds are made up and this is the way it is going to go.
That will be a healthy tax for America. Who controls this. Our friends overseas. We pay and they make the rules. Seems only fair????
Ventura County
The County real estate is continuing its base building. Listings continue downward; discounts continue and it appears that the County inventory is neutral will a bias towards becoming a sellers market.
Santa Rosa Valley, Ventura and Oxnard Beaches and the Ojai/Oak View areas are still buyer’s markets.
Simi Valley/Moorpark, Oxnard, Santa Paula and Fillmore appear to be sellers marketswith the Conejo Valley and Camarillo currently being neutral.
Overall there has been a 35% increase in sales in 2009 compared to the same period of 2008. Areas showing significantly higher sales this year is Oxnard (114% increase); followed by Santa Paula, Fillmore and the Ojai/Oak View area.
The areas lagging 2008 residential sales are Santa Rosa and Conejo Valley.
The County real estate appreciation for the next 12 months will be 8.7% growth; we will witness a 17.9% growth over the next 24 months; and a 25.6% growth over the next 36 months.
Increase in unemployement and lagging job creation can dampened these growth rates slightly but overall it appears these appreciation rates that can be expected.
Your comments are welcomed.
