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It’s A Buyer’s Market…
Now Is The Time To Buy!
Even though there are many who claim they can do so, it is impossible for anyone to accurately predict when our current real estate market will “bottom
out.” The actual fact is that it has slowed considerably from last year. Home sales are down, and prices have dropped. However, they have not
dropped a lot in Ventura County and its adjacent communities, nor are they likely to go a great deal lower. This is a very desirable area. If you are
considering buying a home, it is an extremely favorable time to do so.
During this period of healthy adjustment, as the market evens out to a more normalized status, several factors provide the buyer with favorable
conditions. Inventory is on the healthy side, so there are choices. There is also room for negotiation with sellers. This is a nice change from
just a couple of years ago, when any property under consideration needed to be snapped up in a big hurry, frequently with competing offers driving
the price above market value. Negotiation, however, should not be confused with discounting. Knowledgeable sellers, working closely with their
agents, are pricing their properties accurately so they will sell in an appropriate amount of time. They know what their properties are worth and,
for the most part, are standing firm on their sale prices.
By now, almost everyone is aware of the current foreclosure situation. Lenders are back to being a lot more cautious, which is exactly how it should
be. For qualified buyers, foreclosures are a viable part of the market and provide an excellent opportunity. However, this is a highly specialized
market and an experienced Realtor is a must if you’re interested in considering these properties.
Thanks to the Fed, interest rates remain historically low. So, even though lenders may be more stringent in their policies these days, the interest
rates are keeping mortgage payments at a very reasonable cost. This makes it easier to qualify. Working diligently with your real estate agent is
crucial. Your expert representative helps you to stay abreast of the lending rates and the various mortgage offerings available, ensuring that you
select the product that’s just right for you.
There are a lot of good buys out there right now. If you are gambling on a significant drop in sale prices or interest rates, this is no better an
idea than trying to time the stock market. Ask your agent to help you find a property that you really like, negotiate soon, and buy a home you’ll
love for years while you have a lot of choices and a lot less pressure.
This newsletter is not a solicitation for already-listed properties. Prudential California Realty is an
independently owned and operated member of Prudential Real Estate Affiliates, Inc., a Prudential Financial company.
Equal Housing Opportunity. |
From the desk of...
The M & M TEAM |
Hello Family and Friends,
Happy Holidays! In this season of warmth and goodwill, we want to express our heartfelt thanks to all of our valued
clients. We extend our very best wishes for a wonderful holiday season, a prosperous new year, and health and happiness to you and yours. It is
because of all of you that we continue to "make your move sweet!" and we are grateful to continue our wonderful relationship for years to come.
It is our promise to you that you can always count on us. Whether you have a complex transaction or a simple question, The M & M Team is always there
for you, so don’t hesitate to call.
Warmly,
Ryan and Linda
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Activity
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The Speedy Gourmet
Great Recipes for Busy People
Mulling it Over
One of the definitions of the word “mull” is “to heat and spice.” Nothing smells more inviting than the spices used for mulling
hot cider or wine. They are about the same for each. Most recipes tell you to put the mulling spices in cheesecloth or a
coffee filter; I threw them into the pot and poured the hot cider into mugs through a strainer. It’s easier and quicker but
splashes a bit, so be careful where you pour. Mulling is not exactly speedy, but the aroma factor makes it well worth the wait.
Here are two recipes, one for each drink:
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Hot Mulled Cider
Ingredients:
2 Quarts Apple Cider, ½ C Brown Sugar, 1 Tsp Whole Cloves, 2 Cinnamon Sticks
Preparation:
Combine ingredients in a pot. Bring to just under a boil over medium heat. Reduce heat to low. Simmer for 20 minutes.
Serving Suggestions:
Float an orange slice and add a cinnamon stick to each mug. Add a splash of rum or brandy to warm up a chilly day!
Hot Mulled Wine
Ingredients:
½ C Water, ½ C Brown Sugar, Rind of 1 Lemon, Rind of 1 Orange, 1 Tsp Whole Cloves, 2 Cinnamon Sticks, 2 Bottles Red Wine, Rest of the lemon
- sliced, Rest of the orange - sliced
Preparation:
Zest the fruit, avoiding the white pith (use a vegetable peeler — easier than a zester). Put this, the sugar, cloves and cinnamon into the
water in a pot. Bring this to a slow boil for 5 minutes. Remove from heat. Now add the wine. Add in orange and lemon sliced fruit. Warm this
on low heat for 40 minutes (do NOT boil). Strain and serve.
Serving Suggestions:
Sing "Auld Lang Syne"
Recipe courtesy of Victoria Wood,Publicist, Prudential California Realty
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| VIDEO TOURS |
Be on the lookout for The M & M Team's latest service!
Did you ever wanted to see a property or neighborhood, but you just didn't have enough time in your day? That's where we can be of
service. We will take the time to video record a property or neighborhood and provide you with a link so you can view it online.
You can see the positives and negatives of any property without leaving your home. We'll also provide a detailed narrative on the
video so it will acutally resemble us taking you to the property in person.
Please be on the look out for our newest service on our website. We'll be announcing it via email, shortly!
In the meantime, if you would like us to get started on a property or neighborhood, please provide some details HERE.
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| Interest Rates |
| 30 Year Fixed Conforming | 5.875% |
| 30 Year Fixed Jumbo | 6.50% |
| 7 Year Fixed/1 Year ARM Conforming | 5.875% |
| 7 Year Fixed/1 Year ARM Jumbo | 5.875% |
| 5 Year Fixed/1 Year ARM Conforming | 5.50% |
| 5 Year Fixed/1 Year ARM Jumbo | 5.50% |
| Source: Countrywide Home Loans. Rates are based on 1 point and are subject to change without notice. |
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Median Sale Prices
| Here are the median sales prices recorded in October for single family homes, condos and new construction in the following communities: |
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| Agoura Hills | $600,000 | 
Source: Data Quick |
| Calabasas | $1,125,000 |
| Camarillo | $542,500 |
| Fillmore | $425,000 |
| Moorpark | $690,000 |
| Newbury Park | $704,500 |
| Oak Park | $714,000 |
| Oxnard | $500,000 |
| Santa Paula | $357,500 |
| Simi Valley | $525,000 |
| Thousand Oaks | $573,000 |
| Ventura | $530,000 |
| Westlake Village | $775,000 |
| Woodland Hills | $596,250 |
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