You’re not the only one thinking of selling and buying a home in Ventura! Check out what is happening in our own backyard!
According to the recent data from Redfin, the top seven markets with the largest year-over-year drop in inventory were all in California:
Sacramento -66.4%
Ventura -64.8%
Inland Empire -58.8%
You are probably getting tired of hearing how low interest rates are—but, they are the lowest that you’ve seen in your lifetime! What does this mean for you and your family? Two things: If you are planning to stay in your home for the long haul, then you should consider refinancing your home; OR if your home will not meet your needs for the long run, then now is the time to make your move.
According to the September issue of “The Economic Watch” by local Economist Mark Schniepp who has been a guest speaker at a Ventura County Coastal Association of Realtors general membership meeting, home prices are going up.
In Ventura County the median single-family home selling price in May-July, 2012 was $426,543 as compared to $412,230 in February-April, a 3.5 percent increase.
Per Realtor Magazine, the following metro areas have seen the largest drops in inventories of for-sale homes in the past year (July 2012 compared to July 2011):
1. Oakland, California -59.30%
2. Fresno, California.: -47.81 %
3. Bakersfield, California -44.71 %
4. Seattle-Bellevue-Everett, Washington -42.23 %