Winterizing Maintenance Guide for Ventura County Property

 

 Winterizing Maintenance Guide for Ventura County Property 

 We all know how severe our winter conditions are here in Ventura County!  Fortunately, my A-frame at Channel Islands Harbor has that steep pitched roof for the snow and ice to slide right off…wink, wink. But with the season change, it is a good time to address some home maintenance tasks to prevent future costly repairs.  Attention to these things will also save energy and keep all your home’s systems running smoothly.  So where do you begin?  The following should be on your radar for attention. 

HVAC – Make sure your furnace is ready for cold weather. Check the filters and replace if dirty.  Schedule an annual maintenance appointment; the technician will check all fuel connections, burner combustion and the heat exchanger.  You should inspect floor registers and return ducts; clean and vacuum them.

Roof and Gutters – Clear all debris and note any structural issues that might interfere with drainage. Inspect the shingles and flashing. Seal cracks and holes in the flashing with roofing cement.  If you have damaged or missing shingles and flashing, call a roofing contractor to obtain estimate for repair.

Drainage Systems – Remove debris and inspect for blockages; test drains with hose and watch for signs of pooling water. If there are issues contact a landscape contractor to restore good drainage.

Landscaping – Trees and shrubs can be destructive to your home, they trap moisture near the house, scrape surfaces when wind blows and drop branches that can severely damage.  Prune them so that they are separated from the home’s exterior and overhanging branches are away from the roof structure.  You should keep all plantings 3 feet away from stucco sidings that go to ground level as the watering of those plants will wick in to the stucco.

Inside and Out – Do a visual of all doors and windows; check for gaps and caulk them.  Open doors and check the condition of the weatherstripping.  If old or crumbling, remove and replace the weatherstripping to assure no drafty doors.  Drafty electrical outlets can be remedied with thin foam pads from hardware stores placed behind the cover-plate.  And remember to change the batteries in your smoke and carbon monoxide alarms!

Routinely performing these tasks will extend the life of your home, prevent water damage, save energy and insure a comfy, cozy winter.  Get started on them now and when you’re done, grab a cup of cocoa, get your spot on the couch, turn on the weather channel and watch that Wyoming blizzard in HD.  Let it snow, let it snow, let it snow. 

 

To Sell Or Lease, That’s The Question

 

Rotstein Arkitekter Office interior

Recent market conditions have yielded rents that are skyrocketing and homes that are still at great prices. This is causing some sellers to consider renting their home instead of selling it. After all, a homeowner can get great rental income now and perhaps wait until house values increase even further before selling.

Presido believes strongly that residential real estate is a great investment right now. However, if you have no experience as a landlord or investor in this sector, you may be headed for more trouble than you were looking for.  Before renting your home make sure this is the right course of action for you and your family.  Here are a few things to consider in making your decision.

  • What happens if your tenant says they can’t afford to pay the rent this month because of more pressing obligations?
  • How do you select a quality, long term, stable tenant for your property? How will you show the property? How do you write a lease?
  • Have you interviewed a few experienced eviction attorneys in case a challenge does arise?
  • Have you talked to your insurance company about a possible increase in premiums as liability is greater in a non-owner occupied home?
  • What is your position on tenant having a pet?  Dog or many dogs? Cats, salt water fish tank,6 ft  boa constrictor?
  • How will you actually collect the rent? By mail? In person?
  • Who will take tenant calls when necessary repairs arise?  Do you have a list of craftspeople readily available to handle these repairs?
  • How often will you do a physical inspection of the property?
  • Will you alert your current neighbors that you are renting the house?

As you can see, there are many issues(this is only a PARTIAL list) you must be prepared to address once you choose to rent your property.  With careful planning and diligent effort, leasing your property can be rewarding.  Again, renting out residential real estate historically is a great investment. Make sure you have decided to rent the house because you want to be an investor, not because you are hoping to get a few extra dollars by postponing a sale.  And remember, Presidio Real Estate Services is always here to help you with these challenges, whether you’re looking to lease or sell.

California Real Estate, a Long Term Investment

Hello everyone; I thought you might find this research from the California Association Of Realtors of interest:

 

More Investors Purchasing California  Real Estate as a Long Term Investment

By: Bipandeep Ahdi, Research Analyst

 

Investors have  played a key role in the California housing market  recovery for the past  four years. Low mortgage rates, attractive home  prices, and  low yields on alternative assets have  fueled demand for investment properties, particularly in markets where  distressed homes have  dominated sales. As the California real estate market  has become more  affordable in recent years, most investors purchased a property  as a long-term investment.

 

Investors are  attractive clients for REALTORS® because they are  affluent and  pay cash when purchasing properties. According to results from the 2013  California Investor Surveys from the California Association of REALTORS®,  more  than  two-thirds of investors (67 percent) paid cash for their properties. Their primary motivation for purchasing real estate is based on the property’s profit potential and  they are  well-informed on the real estate business. Sixty-six percent of investors indicated they are going to keep  the property  for more than  a year  with the intent of renting, while about  one-quarter (26 percent) of investors flipped or had  the intention of flipping the property.  Low interest rates and  good  rates of return  have  encouraged investors to hold onto properties and  gain cash flows from renting.

 

 Cargraph

New Commercial Property For Sale

New Listing: Commercial Medical/Office Condo For Sale

Fully improved medical office condo situated in a Class A Office Building 64,000 sgft. Excellent owner user opportunity. Unit is 1716 sqft. Four large exam rooms each with its own private restroom and closet/storage area. Each restroom has a toilet and sink. All exam/patient rooms have neutral color laminate flooring and all network infrastructure (Cat5e and Coax) is installed. Large central work station with ample counter and cabinet space for filing and/or storage. Additional lunch/break room with sink. This could be an additional exam room. Central wash/work area with sink and counter space adjacent to employee work station. One additional employee restroom for five restrooms in all. Waiting room/reception area. Small storage/network room for office network infrastructure. Ground floor unit, located adjacent to the building west entry for easy access. 120/240 power with 277/480 transformer. Regency Medical Plaza is comprised of 39 units medical/dental/professional mix. Ample parking. HOA documents available upon request. Excellent owner/user opportunity or great set up for a professional partnership

Property Information Website

Newbury Rd Hall33

 

 

 

 

 

 

 

 

Schedule a Showing

Please Complete Form 

General Inquiries

Please fill out this form and we will get in touch with you shortly.

Thousand Oaks Home Prices Skyrocket 14% June 12-June13

Presidio Real Estate Services help our clients better understand the local housing market by monitoring monthly housing data. We continue to be amazed at what has happened in the local market. Home prices (Single Family Properties-we did not include condos and town-homes) in Thousand Oaks and Newbury Park have soared since Dec 2012. The median price has increased 14% since June of last year, but more importantly it is up 26.7 % since January. The median sold price in January was $521,000 it ballooned to $660,00 in June. This pace in unsustainable in our opinion. Either, homes were way undervalued or the local economy just got a lot stronger.   Just when you thought it was a good time to buy a home, prices shoot upward leaving you scrambling to get in the game. In our opinion the reasons why prices have increased,

  1.  Interest rates fell to new lows (3.375% 30 year fixed conforming loan) about nov/dec of last year.  They have since moved up about 3/4% over the last 4 weeks. This should help bring prices back in line. A 1% int rate increase on a $400,000 loan requires a $40,000 price reduction to have the same payment. 
  2.  With minimal inventory buyers are starting to panic and are bidding up properties.
  3. The number of bank owned property sales drop off and since they sold for about 100K less on avg, that will help the median price increase.  

Informed buyers and sellers make smart decisions. Please contact us if you would like a full copy of the local housing report. 805-499-7300 or via email at info@presidiorealestategroup.com

Thousand Oaks Home Sales

Home Sales Thousand Oaks

Ventura County Foreclosure Properties

Ventura County is a great place for investors seeking to purchase investment homes. The news media continues to tell us how much better the housing market is doing. They are correct in some respects, however we still have a slew of properties in some state of foreclosure. It is a great time for investors to start picking up deals as we suspect the competition for distressed homes will diminish as investors look to other markets.  The Ventura County Foreclosure market has been a tougher market than some other areas in Southern California. There just aren’t as many distressed properties available here compared to say the inland empire. 

Investors need to have a solid game plan and a solid team on their side. Presidio Real Estate Services can help you locate and purchase Foreclosure properties in Thousand Oaks, Newbury Park, Simi Valley, Moorpark and other sellect Ventura County cities.

Give us a call at 805-499-7300 and see what we can do to help you. Download a copy of the local market report below. Additional market reports available upon request. 

Ventura County Foreclosures 04-13

Thousand Oaks Foreclosure Report April 2013

Thousand Oaks Property Management

Presidio Real Estate Services provides Property Management Services in Thousand Oaks, Ca. If you are a property owner and need help renting your property call Presidio Real Estate Services. If your properties are already rented and you are looking for a property management company we are here to help. Presidio provides property management services throughout Ventura County. 

 

Simi Valley Home For Rent 3 + 3

For Rent 3 + 3 in West Simi Valley. Great Location. 1+ 1 downstairs and 2 beds and 2 baths upstairs. Freshly painted with new tile flooring in the master bath and kitchen. Unit has a fireplace and attached two car garge. Private yard with Spa. Why live in apartment when you can live here. Avail March 11th 2013. Apply Online. Credit and Background check fee is 30.00 per adult. Pets considered on a case by case basis.

Online Application

Additional Property Details

 

Bidding Wars Home Sale Activity Picks Up

Ventura County Home Buyer Information Sales Market Heats Up

With East Ventura County housing inventory at it lowest levels in several years,  potential homebuyers are finding themselves in bidding wars once again. Investors flush with cash are ready to pounce on any good deal that comes along. This leaves many would be homebuyers standing on the sidelines. We continue to see sales where there are 5-10-15 offers that come in. Is this a sign of things to come ?  In my opinion there is just not enough supply to meet the demand. It’s not like there are armies of potential homebuyers, but there are more than enough people looking for homes that simply can’t find what they can afford to buy. When that hot deal comes along  it is snapped up, sometimes within hours.  But don’t be discouraged, all hope is not lost. There are plenty of deals still to be had potential buyers need to be prepared before they start home shopping.

HOME BUYERS BE PREPARED BEFORE YOU START HOME SHOPPING

Now more than ever potential homebuyers need to get their ducks in a row before they start home shopping. Here is a quick list of things you can do to get yourself ready to purchase a home. 

  • GET PRE APPROVED: There is a difference between being pre qualified and pre approved. With a pre qualification, a loan officer will review the the borrowers basic financial information and issue a recommendation based on this information. A pre approval goes one step further, the borrower will provide the loan officer all the necessary financial information and supporting documents and your file will be underwritten by the banks underwriter. This allows a buyer to act quickly and structure the purchase contract to be more attractive to the seller.
  • KNOW YOUR LOCAL MARKET- Take some time to do a little research about your local market. Local market dynamics will shift from city to city.
  • Know the features you want in a home. Do you want a large lot ? Is a one story home preferred over two ? What size bathrooms do you want.
  • Don’t underestimate the cost to fix up a home. Many buyers think they can do upgrades for cheap. You may be better off spending a little more money to get a home that needs minimal repairs. Email us for a free home remodel cost guide.
  • Employ a Knowledgeable Broker – Find a Real Estate Broker that knows the local market. If you really enjoy searching on your own great go ahead.  But hire a broker to help you negotiate the sale and paperwork. Real estate commissions are negotiable. Too many buyers make the mistake of negotiating directly with the listing agent. The listing agent works for the seller and has a duty to get the seller the best possible price. Contact us for help finding a home.

DOWNLOAD THE LATEST HOME SALE MARKET REPORTS

Thousand Oaks Foreclosure Report May 2012

We continue to talk to more and more investors who are looking to take advantage of opportunities in the housing market. I thought now would be a good time to give you an update on how housing is holding up in Thousand Oaks and the surrounding areas (Conejo Valley).  I can tell you this, we are seeing more activity in the market as a whole. Homes that are priced  correctly are selling quickly. Lower priced properties are receiving multiple offers and inventory is way below normal levels in some segments of the market. But what is happening in the Foreclosure Market ?

New Notice of Default Filings

26 new notice of defaults were filed in Thousand Oaks in April 2012. This was an increase of over 62.50%, add March and April filings together and they are up over 70% from this time last year. Looking at the entire Conejo Valley area Westlake Village saw filings increase 63% with 31 NOD’s filed and Newbury Park had a slight decline, 16% with 20 filings. A notice of default is filed by the lender when a borrower is more than thirty days late on their payment and this is the first step in the foreclosure process.  

Notice of Sale Filings

Notice of Sale (NOS) filings were down 30%, with only 14 new filings in April, Westlake Village was down 5% with 19 filings, and Newbury Park down 23% with 17 filings.   The Notice of Sale is the last step in the foreclosure process. This typically means the borrower has less than 30 days to bring the loan current or make arrangements with the bank before the property is sold at Trustee Sale. Typical borrower options at this point are to work out an agreement with the lender (loan modification), agree to a short sale, or pay back all late payments and fees before the sale date , or file bankruptcy.  The lender may also postpone the sale simple because they haven’t had time to do all the paperwork or the loss they will be taking is larger than they want on the books right now.

General Conejo Valley Summary

We continue to see more sales cancelled 104 in all from Feb to April 2012. Cancellations do not mean the property won’t eventually be foreclosed on. It simply means the sales was cancelled or postponed from the scheduled sale date. In fact most of the properties that ended up being foreclosed on had a prior sale date cancelled. 23 homes sold at trustee sale to investors  between Feb and April  at an avg discount of 15% to perceived market value.  There is more competition at the sales,  the final sale price was 9% higher than the opening bid. During this same period 43 properties were taken back by the lender. The avg price to perceived value in this case was 4% higher market value. This is a hard figure to track due to several nuances. And the estimated value used is calculated using a general algorithm and may not be exact.

We expect to see foreclosures to continue to come on the market. However it will be interesting to see in the mortgage settlement agreement causes more sales to be cancelled as lenders work with more borrowers. If this is the case we will expect to see more short sales and loan modifications. If you would like additional information feel free to contact us. You can download local market reports below.

If you are interested in learning how to participate in this market please contact our office at 805-499-7300 or email info@presidiorealestategroup.com

Links and Resources

Search Foreclosures

Local Market Reports

Thousand Oaks Foreclosures Report April 2012

Simi Valley Foreclosures April 2012

 Moorpark Foreclosures April 2012

Conejo Valley Foreclosure Report April 2012