Wonderful 4 + 3 home JUST REDUCED at end of quiet secluded cul-de-sac. Completely fenced backyard and landscaped. Designer kitchen features Wolf double oven, six burner range, Sub-Zero fridge, solid maple cabinets, granite counter tops with tumbled travertine back splash, FisherPakal dishwasher. Tile Roof with dual pane windows along with 18 sq. inch travertine flooring. Custom bar and wine cellar with crafted raised panel doors, cabinetry and lighting. Crown molding and base boards accent the home. Large backyard with plenty of room for a backyard pool. Very close to Moorpark High School. Contact Presidio to see this delightful home – 805-499-7300. $3000 buyer credit to closing costs at close of escrow if Escrow opened by 8/1/23.
12202 Willow Spring, Moorpark. Own a great home in Moorpark’s Mountain Meadows. This home has all the amenities you could ask for. Formal living & dining rooms, 3 fireplaces, vaulted ceilings, wine pantry,wet bar,3 car garage & fabulous back yard. The kitchen is spacious & open,it is adjacent to the family room and includes a breakfast nook and tons of cabinet space. Wine lovers will appreciate the built in wine storage area with space for over 50 bottles of wine. 1 bedroom and 1 full bath downstairs make this a great floorplan. For those who enjoy entertaining outside, look no further, the yard includes a covered patio,built in gas fire pit and large cooking area with sink, grills, vent hood, bar area and several fountains. The yard is a true oasis. The master suite is over 400 sqft, upgraded granite counters, tile, walk in closet, and more. 3 Car garage with additional rafter storage provides plenty of room for all your toys. Central Air and several other amenities. Won’t last long.
Find out what is happening in your neighborhood. The local real estate market is as dynamic as ever. Presidio has published our mid year real estate market reports to help Ventura County homeowners monitor the overall health of the real estate market. It is critical for both home buyers and sellers to have a solid understanding of the market before embarking on a sale or purchase. It may seem trivial to some, but at Presidio we put a lot of emphasis on helping our clients make the best decisions. This means having the latest information at your disposal.
Ventura County Cities
Beautiful lake side 2 bedroom 2.5 bathroom condo. This home is situated in a quiet cul-de-sac. This property has been updated, is spotless and shows very well. Gorgeous laminate wood floors in the living room, vaulted ceilings make the entry feel open and spacious. Tile floors in the bathrooms and the kitchen has been updated. Small dining room situated next to the kitchen and opens to the private patio make the space feel open and bright. All walls have been painted recently. Recessed lights and reading lights in a master bedroom and a decent size walk in closet. Great views of the lake. The bannister has been updated with rod iron and modernizes the home. Soft water system and newer A/C unit. The complex includes pools, spa, tennis court, RV parking and lake for fishing and boating. . Located close to shopping and school, with easy freeway access. $385,000. Make offer today or call our office to schedule a showing.
Beautiful and Spacious home in The Oaks!! This lovely 3,729 sf home with 5 bedrooms, 4.5 baths, courtyard, arbor covered walkway and huge pool/spa is on an expansive 11,510 sf lot in the gated Oaks community at Wood Ranch/Long Canyon, Simi Valley. Huge center island and granite counter tops in kitchen with professional grade appliances. Hardwood, ceramic and carpeted flooring throughout, elegant lighting and dramatic wall finishes create beautiful living spaces. Nestled in the Simi Hills, adjacent to the Wood Ranch Golf Course and Country Club and across the road from the Reagan Library, this is gem for living the southern California life style; complete with gardener and pool man. Call us to schedule a viewing of this property at 805.499.7300.
This beautiful spacious single story home has 3 bedroom with large closets, an office room, Living room, Family room, Dining room and a large kitchen with lots of reachable cabinets and plenty of countertop space. Appliances include: Stove, Dishwasher, Oven, Microwave, Washer, Dryer and Trash compactor. This home in Dos Vientos is close to AWARD WINNING SYCAMORE CANYON K-8 School, SHOPPING COMPLEX and YMCA. It is also close to BORCHARD HIGH SCHOOL, HIKING TRAILS and RECREATION. Fresh paint and flooring, Gardener included.
Presidio Real Estate Services provides property management services in Newbury Park and Thousand Oaks, Ca. We manage single family residential properties, multi unit properties, and small commercial units.
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
Whether or not you are a home buyer looking for a new home or a tenant looking to rent a property you should understand what exactly an HOA is and how it will affect your rights. You should inspect the association documents carefully. Most Real Estate Brokers should be able to help you review the financials, by-laws, and restrictions that an HOA imposes on a property.
What is a Homeowners Association (HOA )?
In simple terms a HOA is a non-profit corporation comprised of all the property owners in a development(s). The owners typically higher a property management company to manage the association. The HOA elects a board of directors who works with the management company. The developer of the project typically creates the association documents, by-laws, and CC& R’s before the project is built and will manage and run the association until the development is a certain percent complete. The Board is the voice of the association and will work to follow the association governing documents. Often I hear people talk of the association in an adversarial way. Based on my experience, it seems a lot of property owners have an, us against them mentality. Where in reality all the homeowners are part of the association and can and should have a voice. In most cases people do not have the time to get involved they leave it up to the board to make all the decisions. Individuals on the board are elected volunteers and typically have other full time jobs. They will vote on key items and conduct the business of the HOA, typically acting on the advice of the management company. The key here is the management company. The board has a duty to its members to make the sure the management company is doing its job. HOA’s govern various types of developments and are not limited to condo and townhome developments.
What Does The HOA Pay For?
Typically the association provides some insurance coverage, maintenance of a property’s exterior, green areas, pool and community areas and more. It really depends on the type of community and amenities. Single Family Home Associations (PUD’s) may not provide any exterior maintenance but only maintaining the community common areas. A common area is a space that is shared by all owners. Some associations are very complex and it is important for homebuyers to understand these complexities when purchasing a property in a development with an HOA. It is not something that should be ignored. How well an association is run can and will affect the value of the property.
HOA dues can be as high as $400 per month is some communities. If you are considering buying a property with an HOA consider this. With today’s interest rates around 4% for 30 year fixed rate loan it costs about $477 per month for every $100,000 you borrow. If your HOA dues are $350 per month you could spend $70,0000 more to purchase a property without an HOA. This means the property in the community with an HOA needs to be priced about $50,000 lower than a property without an HOA assuming the HOA is paying for the Hazard Insurance on the property.
As 2011 comes to a close we wanted to take a look at how the Conejo Valley Real Estate market is holding up. This report includes home sales data from the following cities, Thousand Oaks, Newbury Park, and Westlake Village and includes all Single Family Homes and Townhome/Condo Sales. You can download the full report using the link at the end of this story.
It is always interesting to compare our local market information to the information many of us are bombarded with in the national news media. Let’s see how we stack up. The median home price fell 9%, from $585,000 to $530,000 and the number of properties for sale also fell off rather dramatically, falling from 852 units in Oct 2010 to 658 in October 2011. It is taking homeowners on avg. 112 days to sell their property.
Thousand Oaks and Newbury Park Home Sales
If we remove Westlake Village from our data set, the median price in Thousand Oaks and Newbury Park was $510,000 up from from ($497,000) in Oct. 2010. This headline could read home prices increase 3% year over year. That news might make homeowners feel better. One reason for this increase is the limited supply of homes for sale. The months supply of inventory is at is lowest level in 18 months, with just over a 4.5 months supply of housing. Low inventory has helped prop up prices.
Home Sales Activity By Price
Last 365 Days
The Conejo Valley Housing Market is holding up fairly well. The most popular properties are homes priced between $ 450,000 – 650,000. Low interest rates continue to make properties more affordable. Assuming you purchased a property for $500,000 with 20% down payment your monthly payment including taxes and insurance would be roughly $2504 based on today’s interest rates. If you had no other debt, it would take a minimum gross monthly income of $5568 per month and a credit score of over 620 to qualify to purchase this $500,000 home. I have to say we are getting close to a bottom. All the figures and statistics are lining up to make purchasing a home a smart decision. Please remember a home is not an investment. It is a place to live. If it goes up in value great. Your home is an investment in your lifestyle. If you want an investment, let’s talk and we’ll show you how to buy investment real estate.
Download Charts and Tables Here: Conejo Valley Housing Data Oct 2011
Source: Ventura County Regional Datashare
Source: Ventura County Regional Datashare
Presidio Real Estate Services is not your typical real estate brokerage. You may ask, what does this mean for me ? Hopefully a lot. We use the underlying market data to identify trends and characteristics buyers and sellers need to be aware of. For instance, did you know that when a home is sold in less than 30 days, the sellers usually get no less than 97% of the asking price and they close escrow in less than 85 days. Not bad in today’s market. How could you use this information to price a home for sale or buy a home ?
Selling a Property
When we meet with prospective clients they often think they know the market better than we do. This is because a lot of real estate agents are thought of about as highly as car salesmen. Sorry guys and gals but it is true. We usually ask clients what they think the home is worth when we meet with them. The answer, usually a higher price than the actual value. But that is ok. Optimism is important in today’s economy. If we look at the underlying market data, homes that have one (1) price reduction while on the market, sell for about 93% of the original asking price and take almost 126 days to close. If the price needs to be lowered more than once, sellers can expect to get only 89% of the original price, and it will take them more than five months to sell the property. The longer a property sits on the market the more buyers and their agents buyers perceive there must be some sort of problem. This translates into to a lower price for sellers.
Using Housing Market Data To Save or Make you Money
Examine the market data and price your home accordingly. Most homeowners meet with agents and brokerages that show up with a few recent comps from the MLS and determine a price from there. Hardly a solid way to do it. The average homeowner has little knowledge of all the local market details. They have put a lot of time and money into the property and usually think it is worth more than it is. Pricing a home based on what you think it is worth and and what buyers will pay may be miles apart. The last two properties we sold received offers that were less than 1% below the asking price and the sale closed in less than 60 days. Our sellers saved themselves a lot of time and money. Our market reports help you make smart decisions.
Buying a Home
For home buyers it is important to know the intricacies of the market. In today’s environment everyone wants a bargain. But throwing out an offer 50K below the asking price usually doesn’t work. However if you make an offer knowing there are 5 properties going into foreslosure around the corner, and a few other details you may be able to convince a seller that your low offer really isn’t that low. If you know a property is priced right then offer 3% less to start with. Maybe you will save 5-10K. I can say this, you won’t save any money if you do not understand how the local market is behaving. And if you don’t care, we will always accept money that is thrown away. I have kids to put through College. Save money, make smart decisions, and use market data to help you buy or sell your home.