Have you sold your home in Oxnard and bought in Camarillo yet? You should absolutely be able to find a home in Camarillo with a payment of $2500. Of course the more of a downpayment you are able to put down the higher the price of the home you will be able to afford. Be sure to call me if you I can be of any assistance.
Blanca Dover, REALTOR
Century21 Hometown Realty
As you probably already know, the Oxnard real estate market was hit heavily by sub-prime (Option-ARM) lending practices during the early 2003-2007 period. For the most part, Ventura County has returned to prices last seen in early 2003. Oxnard, however, is struggling with a huge supply of short sales and REOs, coupled with stricter lending practices.
On the brighter side, I feel Oxnard values will appreciate more than the rest of the County, as homebuyers recognize an opportunity to purchase more home for the money. That being said, it is crucial for you to "ride the wave" of any price correction in Oxnard, before selling and bringing that equity over to neighboring Camarillo. Overall, I would not predict or expect any substantial pricing variances in only 2 years, but Oxnard's real estate may experience more appreciation as part of it's correction (as discussed above).
I assume you have equity now in your present residence. I suggest you look to refinance in the next several months into a 4-5% rate, and plan to save the difference (in payment) towards your down payment in Camarillo. One could argue that nows a great time to sell & buy based only on interest rates -- but I feel it will be at least 3-4 years before we have mortgage rates over 7% (if even then).
Watch my Camarillo website daily so you can track our home values and trends. You may want to sign up for a free Market Snapshot, so you can keep an eye on your own neighborhood housing activity.