Sold! – Doane Street, Ventura, CA

default

I helped my client from Minnesota purchase this wonderful home located in Ventura’s desirable ‘ABOVE THE COLLEGE’ neighborhood! This 4BR+3BR home has newer dual pane windows and wood-like flooring throughout. The large living room has a custom fireplace mantel and two skylights. There is a wet bar in the family room which leads to the big backyard with patio, perfect for entertaining or relaxing. The roof and gutters were replaced in 2018, followed by the furnace and all ducting in 2019. There’s room for 6 to park in the driveway, with an attached two car garage as well. Close to grocery stores, shopping, dining, entertainment, parks, and of course the beaches of Ventura! It’s also in the Loma Vista Elementary School, Cabrillo Middle School, and Ventura High School zones. This home is in the heart of Ventura!

Sold! – Broadway condo near downtown San Diego, CA. An Urban Oasis in Golden Hill!

I helped my clients sell this condo in the heart of the sought-after Golden Hill neighborhood of San Diego. This charming condominium features a blend of comfort, convenience, and and city living at its best. Built in 1984 and beautifully maintained, this single-story gem has 521 square feet living space. As you step inside, you’re greeted by a warm and inviting atmosphere. The living room, illuminated by a large North-facing bay window, bathes the space in natural light, creating an airy and welcoming ambiance. The kitchen blends functionality with style and comes fully equipped with a refrigerator, dishwasher, electric range, and disposal, making meal prep a breeze. The bedroom features a walk-in closet, offering storage space to keep your sanctuary clutter-free. Waking up here means starting your day in a peaceful enclave, away from the hustle and bustle of the city life nearby. Step out onto your private balcony to sip your morning coffee or unwind after a long day. Parking is a breeze with two designated underground spots in the community garage, each with electric vehicle charging stations, a rare find in this bustling city. Living in Golden Hill in San Diego, you’re at the crossroads of culture and convenience. Just 1.6 miles from downtown San Diego and the Gaslamp Quarter, your options for entertainment, dining, and shopping are virtually endless. For those seeking an active lifestyle, Balboa Park’s sprawling green spaces and recreational facilities are just a stone’s throw away. And with easy access to interstate freeways, weekend getaways and daily commutes are equally convenient. Here, every day is an opportunity to experience the best of San Diego living.

What’s really going on with real estate now?

Roylin Downs- Right now, with ever-changing forecasts about real estate, many people want to know what’s really going on with the housing market. These days I’m getting a lot of questions about home prices, interest rates, and whether the market will be more or less opportune this spring.
For more than twenty years and through multiple market cycles, I’ve been actively involved in Southern California real estate. Through those ups and downs, I’ve learned to separate correlation from cause and one-off blip from pattern. This has helped me make sense of today’s market.
Let’s run through the major forces that have shaped our market up to this point and where they leave us today. Along the way, I’ll give you my take on what’s ahead.


The Boom and Inflation
After the initial shock of the pandemic, in 2020 and 2021 demand for homes far exceeded supply. Interest rates were low, remote work compelled people to move, and investors raced to the residential market. Resale listings increased but couldn’t keep up, and new home construction stalled. The market expanded while prices soared; this was the “pandemic boom.”
Meanwhile, at the beginning of the pandemic our money supply increased 27%, but families and businesses were saving at a high rate. By 2022, spending picked up and the new money finally started circulating. Inflation hit a high of 8%, and the Fed responded with aggressive action. It worked; by January 2024, the 12-month inflation rate was down to just 3.1%.
Now, most pandemic-related moves have already occurred, investors have pulled back, and interest rates have risen, so there’s no reason to expect another sensational rally anytime soon. Barring a broader economic upset, lower-than-2023 rates should bolster the market in 2024, but the growth should be slow and steady.


Interest Rates
This past October, the average 30-year fixed mortgage hit 7.75%, and just a few months later it was down to about 6.6%. Potential buyers and sellers hoped this steep trajectory would continue, but it didn’t.
Mortgage rates fell sharply in late 2023 because the third-quarter inflation rate beat expectations, and again in early 2024 after the Fed announced a stop to the rate hikes. This caused banks to reduce mortgages, despite no actual rate adjustment by the Fed, because they set long-term rates based on short-term rate expectations. Now that they’ve already brought those potential reductions forward, what we’re seeing now are supply-and-demand driven fluctuations.
That’s why in February the average 30-year mortgage went up a few basis points. This caused some to worry that rates might to shoot back up. But I don’t think they will. According to a February prediction from mortgage research firm HSH, in 2024 the average 30-year mortgage should fall between 6.35% and 6.89%, compared to the current average of 6.90% (per Freddie Mac).


Market Activity
When the boom ended in late 2022, there was no “bust.” Instead, just like during the Savings and Loan Crisis of the 1980s, buyers and sellers both retreated. Transactions fell as much as 50%, with Ventura getting hit particularly hard. But our market proved resilient.
Currently, Ventura home sales are down 14% year-over-year, with 37 homes sold in January compared to 43 last January. In hard numbers, this marks a new 5-year low for the city, but our dataset is too small to conclude we’re trending downhill. Panning out to Ventura County, home sales are up 4.2% year-over-year (324 sales compared to 311 last January).
In Ventura County, and especially in Ventura, we saw a big uptick in listings over the last few months. This is due largely to rates dropping more than a point; sellers who had been holding off since 2022 finally decided to make a move. This drove inventory up quickly, and we didn’t see a commensurate number of new buyers enter the market.
However, demand had been outpacing supply since the fall, and our housing shortage remains severe. But the upshot in listings slowed the market down, as new sellers and existing buyers worked to find alignment. We didn’t see the market tip to favor buyers, but we did see longer selling cycles locally and a month-to-month dip in prices countywide (despite a substantial year-over-year gain).
That said, there’s a lot of “pent-up demand” across the country right now. With rates better than they were last year, many of these buyers are expected to enter the market this spring; here locally, I expect a strong turnout. I also expect more sellers to hit the market, and for transactions to increase overall. Annually, the National Association of REALTORS® is predicting 13.5% year-over-year increase in transaction volume in 2024.


Home Prices
In January 2024, the median home sale price in Ventura was $850,000, a 4.9% increase over January 2023. At that time, prices were down 3.8% year-over-year, so prices have more than fully rebounded from last year’s correction. The median hasn’t returned to peak levels, but homes have retained most of the appreciation earned during the surge. Consider that in 2019, January’s median was $602,000.
January’s performance coupled with growing demand suggests we may see slightly higher prices this spring.
Bottom Line
Currently, the Ventura market is strong. Prices are up, homeowners are sitting on an unprecedented amount of equity, and mortgages have a low risk of default. If a slowdown in the economy occurs, our market (nationally and locally) will weather it. If the economy ekes out a “soft landing,” we’re poised for steady growth.
All else being equal, this spring I expect a good, competitive market for sellers and more options for buyers. Homes that are prepared, priced, and marketed strategically will do the best, and buyers willing to look past cosmetics will find bargains.


If you have questions about the market or your own home, give me a call at 805-850-5443. I’m eager to get to know you and help make your next move a success!

Sold! – 2337 N Ventura Ave, Ventura, CA

Ventura Ave condo

I helped my clients sell this wonderful turnkey, single-story 2-bedroom, 2-bath condominium in the heart of west Ventura. This well-maintained unit, situated in a friendly community, offers over 1100 sq ft of living space designed with practicality in mind. The spacious living room, complete with a custom tiled fireplace, provides a cozy hub for everyday life. The adjoining private patio offers a nice spot for your morning coffee or casual get-togethers. The 2 bedrooms and 2 baths are each on opposite ends of the floorplan, allowing for optimum privacy. The attached two-car garage and in-unit washer/dryer make daily living a breeze. The nearby Ventura River bike trail offers access to the beach, Main Street downtown Ventura, or Ojai to the north. Experience the convenience of walking to nearby schools, shopping, and parks. Within the well-maintained complex is a gated community pool and spa, ideal for unwinding after a busy day or hosting a weekend barbecue with friends and family. This property is strategically located for commuting, providing quick access to HWY 33 and HWY 101.

Sold! – Sapphire Avenue, Ventura, CA

Sapphire Ave Ventura

My client flipped over this house and I was able to get it for her in the first week it was on the market! This home exudes pride of ownership and may be the nicest two bedroom home in all of Stonehedge in Ventura! The property is ideally situated within the neighborhood and has a fantastic floor plan with a large kitchen with attached dining area, formal living and dining rooms, and two en-suite bedrooms. The yard is low maintenance and private; perfect for relaxing, entertaining, and enjoying the great Ventura climate. The previous owner spared no expense in updating this property. The list of upgrades include a completely remodeled kitchen with a gas range, custom cabinetry with plenty of pull-outs and storage, Silestone counters, stainless steel appliances, and a large pantry and built-in desk/office area; bathrooms are custom with newer vanities, mirrors/sinks/faucets; newer dual pane windows, newer furnace in 2023, newer roof, re-paved driveway, garage door, water heater, wood and luxury vinyl plank floors, scraped ceilings, great landscaping, security lighting, and the list goes on. This fantastic community has landscaped walking paths, a gated private park, is located within close proximity of highly rated schools, Kimball Sports Park, grocery stores, restaurants and within easy access of the 101/126 freeways. This is truly one of the best Ventura homes in Stonehedge!

Sold! – Stage Trail Road, Camarillo, CA

My client was overjoyed to get this 2017 built home in the highly coveted Springville neighborhood. One of the most unique features of this property is the DOWNSTAIRS bedroom and full bath. On the first floor is also the living room, dining area, kitchen, spacious pantry, sleek kitchen island, and direct access to the garage and yard. The second floor offers 2 bedrooms, 2 baths, a laundry room with sink, and a spacious loft that can be used as a TV room, office or even a reading area. The kitchen offers a modern open concept with stainless steel appliances, quartz countertops and tasteful cabinets along with LED recessed lights. The outdoor concrete patio is perfect for entertaining friends and family. There is also air conditioning for those warm Camarillo summers. A total of 3 parking spaces (2 in the attached garage and one just outside of the garage) offers ample space for your vehicles. This home is located walking distance to Mel Vincent Park where you can enjoy the grass area, walking trails, playground, sports courts, and more. The property is conveniently located near the 101 HWY and just across the way from the popular Camarillo Premium Outlets, a short distance to Cal State Channel Islands University, and just a quick drive to the Ventura and Oxnard beaches.

Sold! – Rodgers Street, Ventura, CA

This unique triple-wide manufactured home in Ventura features nearly 1900 sf of living space! As you arrive, you can imagine star gazing from the covered porch. Stepping into the home, you will be taken with the grand living room and dining area with high ceilings, filled with natural light from one of the many dual-paned windows. The primary bedroom has a walk-in closet and a second closet. The open kitchen has great storage, a large pantry, and pull-out drawers with a separate laundry room just to the back of the kitchen. The home has central AC/heat and ceiling fans, TWO parking areas for up to 4 cars, plus 2 sheds. Imperial Park has pools, spas, and parks. The mobile home is across from Thille Park and near a private path leading to Kimball Park. You are also close to grocery stores, shopping, restaurants, schools, and near 101 & 126 freeways. The office space has a separate entrance, and could also be a 4th bedroom.

Unlocking the Doors to Your Dream Home: A Recap of Our First-Time Homebuyer Seminar

Last month, Lee and I had the pleasure of hosting an illuminating event aimed at making your homeownership dreams come true. Our commitment to helping individuals like you become proud homeowners is unwavering, and we’re thrilled to announce that this seminar was just the beginning of many more to come, spanning Ventura County and Santa Barbara County.

Our event featured the insights of two industry experts, Leanne Walker from CalHFA and Lynda Bernal from Prosperity Home Mortgage. Their knowledge proved invaluable as they shared with us some eye-opening facts and possibilities in the world of first-time homebuyer programs.

Leanne dove into the details of the CalHFA Dream For All program, which generated tremendous interest earlier this year. However, she didn’t sugarcoat it—getting into this program won’t be a cakewalk. With a lottery system in place, it’s no longer a mere race to secure a property; it’s a guarantee of loan approval for 90 days. This assurance benefits both buyers and sellers alike, as it instills confidence in the transaction.

One key advantage of the Dream For All program is the generous 20% down payment contribution, allowing buyers to stretch their budget further. But, of course, there are some stringent eligibility criteria. First, the buyers must be first-time homebuyers, meaning their parents haven’t owned a property in the last decade. Additionally, there are income and down payment restrictions.

Despite the hurdles, Leanne’s enthusiasm remained unbridled. She encouraged us not to be disheartened by the challenges of the Dream For All program. CalHFA offers a treasure trove of other programs, each designed to make homeownership attainable. Leanne highlighted two standout options: the MyHome Program, providing 3-3.5% for a down payment with a 1% simple interest loan, and the Zip Program, covering 2-3% of closing costs—interest-free!

To qualify for these programs, there are certain guidelines to consider, including credit score requirements and income limits. Interestingly, “first-time homebuyer” isn’t as straightforward as it sounds. There are exceptions. For instance, if you haven’t lived in a property you own for the past 10 years, or if you haven’t owned any property in over 3 years, you might still qualify.

Now, let’s talk about the property itself. The house must meet specific requirements to be eligible for a CalHFA loan. It must be a single-family residence, although mobile homes do qualify. Additionally, properties with ADUs (Accessory Dwelling Units) can also be eligible if the tax records classify them as single-family residences. Another essential requirement is a Home Warranty at the time of closing, ensuring peace of mind for first-time homebuyers.

As we move into the new year, we’re excited to share that we have two more seminars planned. On January 24th, 2024, we’ll be in Santa Barbara County (location TBD), and on February 2nd, 2024, we’re coming to Oxnard (location TBD). We’re here to answer all your questions about these programs and guide you through the qualification and homebuying process. Feel free to reach out to us for all your real estate needs. Your dream home is closer than you think!

Stay tuned for more updates and valuable insights as we continue our journey toward making homeownership a reality for everyone.

Sold! – Fern Oaks Drive, Santa Paula, CA

My clients fell in love with this secluded property situated in the enchanting neighborhood known as “the Oaks” in Santa Paula. This single-story 3-bedroom, 2-bathroom home, constructed in 1955, offers a myriad of mid-century modern features. These include an open living area, exposed beamed ceilings, expansive walls of glass that frame the serene mature trees and natural landscape surrounding the free-form patio, as well as numerous skylights that grace the interior. These elements seamlessly merge the indoors with the outdoors, flooding the home with abundant natural light and enhancing its already generous 1,550 square feet (approximately) of living space. A striking floor-to-ceiling fireplace, suitable for both gas and wood burning, adds to the overall ambiance.

Recent enhancements included a new roof installed within the last year, new wood-like vinyl plank flooring, rejuvenated kitchen countertops, refreshed tub and stall shower, and some fresh interior paint. Remarkably, this marked the first time in 50 years that this home had been available on the market. Welcome to this Santa Paula gem in Ventura regional real estate.