HAL CUTLER

Find Oxnard Real Estate, Port Hueneme Real Estate & Channel Islands Harbor, California Real Estate!

Affordable Homes

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Welcome to western Ventura County

Here in Ventura County, the last peak real estate market ended in 1990 and prices fell for five years, leveled off and began to increase in 1997. Once the then existing inventory was gobbled up, new construction began in a big way in 1998. So after nearly 10 years of price growth, we are seeing a natural adjustment in the market now.

If you bought a house in 1990 and allowed for an average 3% inflation for 15 years, that property would be worth 45% more in today's dollars. Factoring in lower mortgage rates and higher incomes, housing prices are not as high as they might otherwise appear so prices are continuing to "soften", but are reasonably strong except for the foreclosure market. This is where the real bargains are found. Here in Ventura County, nearly every section of the market has a few foreclosures, but once they are gone, we are not likely to see such bargains again. Areas such as Riverside or San Bernardino Counties have huge numbers of distressed properties available, but not Ventura County.

Affordability is the key. As prices moderate, the essential value of homes will move in line with more and more able buyers, those able to make the payments. Prices should level off and then begin to move up again. This is the nature of the housing market.

In order to determine what you can afford, it is essential to consult with a lender. Click through to complete financing information contained in this website-----Financing!

TOWNHOMES

Affordability is increasing as prices are gradually declining overall. The least expensive condo is priced under $200,000 now, was as high as $300,000. Low end properties are always the first to drop in price.

Although other desirable properties are available from time to time, those featured below offer a good cross section of the possibilities from about the $400,000 range.

Seaside Village

Built in the mid 1980's, this Mediterranean style community is among the most attractive and desirable in the area. Just 1/2 mile from the Channel Marina, prices start around the $400,000 range,

California Lighthouse

Built in the early 1990's, this gated, beautifully landscaped community in Oxnard features Mediterranean architecture and large floor plans with vaulted ceilings. Prices start around $400,000 range.

The beach in Port Hueneme

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Surfside I, II, III & Anacapa View Condos

On the beach in Port Hueneme, these apartment size condos with 2 bedrooms and 1-2 baths are selling from just under $300,000 and up.

SINGLE FAMILY HOMES

As important as location is, today's home buyer is faced with compromise when choosing a single family home. Please see the following guide to help determine the suitability of single family homes selling under $500,000.

Most importantly, selecting a home in this category requires a field trip. Turn off the computer, get in the car and preview some properties and neighborhoods in person.

Features	Price range
2 or 3 bedrooms, 1 bath, usually under 1200 square feet, built prior to 1960. Many of these home were built in post-war tracts. Some are custom built, but all were very basic, affordable homes at the time of construction and now in need of repair and maintenance and in short supply.	from under $400,000 These are the least expensive SFR homes with standard construction (not modular), detached with an average size lot (about 6000sf) more or less.
3 or 4 bedrooms, 1.75-2.00 baths, usually under 1200 square feet. Built in the 1950's - 1970's. Prior to 1960, this type of home was a cut above the basic home of the day. Additional features might include a family room or formal dining room and built-in appliances.	$450,000 - $550,000
3 or 4 bedrooms, 1.75-2.00 baths, usually 1200-1800 square feet. Built in the 1950's - present. Homes in this category, largely developed in the 1970's account for some best buys in the local area. Features might include a family room or formal dining room, built-in appliances and a contemporary floor plan.	$550,000+
Location, Location, Location--Condition, Condition, Condition. Largely sharing the same features as the category above, property in this category are generally better, nicer, newer and offer more desirable neighborhoods and features. This price category is the "sweet spot" for many buyers.	$600,000+
Newer Homes, Affordably Priced, both attached and detached single family homes.	$500,000+
Redevelopment Many opportunities exist for the more adventurous. Large areas are being redeveloped by private developers or with the help of local government. Formerly old and undesirable housing is turning around dramatically.	$400,000+

If you are priced out of the market here in Ventura County or your return on investment does not make sense, think about Las Vegas. I works for me!

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Contact Information

Telephone: business: 805-984-1995; home office: 805-984-4199
cell: 805-377-1090
FAX: business: 805-985-1242; home office: 805-984-0438
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Electronic mail: General Information, Sales & support:; hal.cutler@verizon.net

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Send mail to hal.cutler@verizon.net with questions or comments about this web site. Surfside-Anacapa Real Estate is independently Owned and Operated. Information contained herein is deemed reliable, but not guaranteed. References to size or square footage is taken from public records but is not verified. If your property is listed with a Broker, this site is not intended as a solicitation of the listing. Property offered is subject to prior sale. Consult a qualified specialist for legal or tax issues.
Copyright © 2001 HAL CUTLER - Realtor
Last modified: March 21, 2008 18:34