Presidio Real Estate Services has completed it’s bi-annual real estate market report. This report covers the rental market, the sales market and the distressed property market in select Ventura and Los Angeles County Cities. The housing market continue to be put under a lot of stress. Bank owner properties are increasing at an alarming rate and this in our opinion will continue to put pressure on home prices.  Lower home prices have had some effect on rental rates, but only on the higher end properties. Properties that once commanded rents over $2800.00 per month are leasing for $2400-$2600.  The rental supply has decreased dramatically in the last few months and this has helped to maintain current rental rates. We are seeing lenders begin to reduce the opening bid at auction substantially from what is owed on the property. What does this mean. Typically the opening bid is what the original loan amount was plus any late fees, late payments etc. Lenders know that in many cases these properties will not sell since they are over leveraged. To move the home the lender discounts the property below market value and writes off the loss. Good deal for investors, good deal for lenders. Download the complete report using the link below. Presidio Real Estate Services specializes in all things related to investment properties. If you are looking to purchase a property or for someone to help you manage your investment please do not hesitate to call.

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