Moorpark Average Price – October ’08

This is a comparison of average prices for the area of Moorpark, CA, between 2007 and 2008.

Moorpark
October 2008 List Price Sold Price Diff. SP/LP % DOM
  $521,306 $506,092 -2.92% 100
October 2007 List Price Sold Price Diff. SP/LP % DOM
  $700,254 $661,062 -5.60% 60
Diff. ’08/’07 % List Price Sold Price   DOM
  -25.55% -23.44%   66.67%

All information is gathered from the Ventura County MLS and is deemed reliable but not always accurate.

Simi Valley Average Price – October ’08

This is a comparison of average prices for the area of Simi Valley, CA, between 2007 and 2008.

Simi Valley
October 2008 List Price Sold Price Diff. SP/LP % DOM
  $463,292 $451,197 -2.61% 74
October 2007 List Price Sold Price Diff. SP/LP % DOM
  $611,452 $589,097 -3.66% 89
Diff. ’08/’07 % List Price Sold Price   DOM
  -24.23% -23.41%   -16.85%

All information is gathered from the Ventura County MLS and is deemed reliable but not always accurate.

Westlake Village Average Price – October ’08

This is a comparison of average prices for the area of Westlake Village, CA, between 2007 and 2008.

Westlake Village
October 2008 List Price Sold Price Diff. SP/LP % DOM
  $960,596 $861,778 -10.29% 77
October 2007 List Price Sold Price Diff. SP/LP % DOM
  $1,012,736 $948,143 -6.38% 61
Diff. ’08/’07 % List Price Sold Price   DOM
  -5.15% -9.10%   26.23%

All information is gathered from the Ventura County MLS and is deemed reliable but not always accurate.

Thousand Oaks (West) Average Price – October ’08

This is a comparison of average prices for the area of Thousand Oaks (West), CA, between 2007 and 2008.

Thousand Oaks (West)
October 2008 List Price Sold Price Diff. SP/LP % DOM
  $455,786 $446,361 -2.07% 64
October 2007 List Price Sold Price Diff. SP/LP % DOM
  $544,337 $516,358 -5.14% 91
Diff. ’08/’07 % List Price Sold Price   DOM
  -16.27% -13.56%   -29.67%

All information is gathered from the Ventura County MLS and is deemed reliable but not always accurate.

Thousand Oaks (East) Average Price – October ’08

This is a comparison of average prices for the area of Thousand Oaks (East), CA, between 2007 and 2008.

Thousand Oaks (East)
October 2008 List Price Sold Price Diff. SP/LP % DOM
  $491,933 $483,213 -1.77% 86
October 2007 List Price Sold Price Diff. SP/LP % DOM
  $677,709 $644,292 -4.93% 81
Diff. ’08/’07 % List Price Sold Price   DOM
  -27.41% -25.00%   6.17%

All information is gathered from the Ventura County MLS and is deemed reliable but not always accurate.

Newbury Park Average Price – October ’08

This is a comparison of average prices for the area of Newbury Park, CA, between 2007 and 2008.

Newbury Park
October 2008 List Price Sold Price Diff. SP/LP % DOM
  $741,207 $715,851 -3.42% 86
October 2007 List Price Sold Price Diff. SP/LP % DOM
  $863,247 $833,371 -3.46% 73
Diff. ’08/’07 % List Price Sold Price   DOM
  -14.14% -14.10%   17.80%

All information is gathered from the Ventura County MLS and is deemed reliable but not always accurate.

Agoura Hills Average Price – October ’08

This is a comparison of average prices for the area of Agoura Hills, CA, between 2007 and 2008.

Agoura Hills
October 2008 List Price Sold Price Diff. SP/LP % DOM
  $773,188 $734,829 -4.96% 94
October 2007 List Price Sold Price Diff. SP/LP % DOM
  $733,152 $710,000 -3.16% 87
Diff. ’08/’07 % List Price Sold Price   DOM
  5.46% 3.50%   8.04%

All information is gathered from the Ventura County MLS and is deemed reliable but not always accurate.

New Conforming Loan Limits for Ventura County


For those of you who do not know what these are, we will briefly try to explain with an example. Let’s say there is a property for sale with a price of $500,000. An average buyer will put 20% down and will need to get the rest, 80% (or $400,000) in some sort of loan. Usually the best loan to get is a conforming loan, known for it’s lower interest rates, stability, equity build-up and tax benefits. However, there is a limit, set by HUD (U.S. Department of Housing and Urban Development), on how much money lenders are allowed to lend on a conforming loan. The current conforming loan limit is set at $417,000. In the example above, the buyer could qualify for this loan.

What happens if the buyer could only put down 10%, leaving $450,000 for a loan? Or, what happens when a buyer wants to purchase a house for a $700,000? The buyers could qualify for a conforming loan up to $417,000, but the rest would have to be covered by a second loan or jumbo loans. Normally second loans or jumbo loans are harder to qualify for and their interest rates are higher.

Realizing that our real estate market is in need of some help, HUD has decided to make a change. Starting January 1st, 2009, the new conforming limits for the Ventura County will be $598,000. With a limit that high, 20% down buyers can start looking for home around $747,500 and still qualify for a conforming loan. This will definitely give the housing market a boost.

Real Estate Market Snapshot

  ACTIVE SOLD – w/in Last 6 Months
  Number of
Listings
Average Price Days on
Market
Number of
Listings
Average Price Days on
Market
Today 874 $1,352,137 99 960 $692,545 87
Last Year 1253 $1,186,432 89 959 $881,583 74
% Difference 71% 114% 111% 100% 79% 118%
 
GREEN Indicates an improvement from the previous year.
RED Indicates a decline from the previous year.
Information is gathered from the Ventura County MLS. All information is deemed reliable but not guaranteed to be accurate.

The spreadsheet above is updated almost daily by going to this link: http://www.themmteam.com/2008/09/conejo-valley-stats.html

We know that this is not usually the time to post a market snapshot, but today we have really good news!

For the first time in over TWO years the Conejo Valley is finally starting to sell more homes than it did the year before. You’ll notice that in the spreadsheet above, today, we sold one more home than we did last year. This stat fell to it’s lowest in March where Conejo Valley only sold half of the homes it did the year before.

Not only has Conejo Valley made a vast improvement in sales, we also expect this number to continue growing. A new snapshot will be provided at the end of the month, unless something else spectacular happens!

Is this a sign of things to come? The M & M Team is excited and you should be too!

Benefits of Ownership


Owning a home is the American Dream. It not only provides amazing tax benefits but it also provides shelter and security to families. Did you know that:

  • Dollar for dollar, the rate of return on an individual’s home cash down payment on a house is substantial? And that repeat buyers are able to put 19% more down on a new home due to appreciation?
  • Home owners move less often and are more likely to vote and volunteer time for political and charitable causes than renters?
  • When you own a home you can deduct the property taxes and mortgage interest from your income taxes?
  • The gains that you make on a primary residence that you’ve occupied for two years out of 5 can be tax free?