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Home Buying in Oxnard : Real Estate Advice

  • All161
  • Local Info10
  • Home Buying46
  • Home Selling8
  • Market Conditions0

Activity 48
Fri May 3, 2013
Barry Shapiro answered:
If you are buying as an investment property, you will need 25% down. The lender will only factor in (calculate) 75% of your anticipated rental income. That's because they factor in a 25% vacancy factor. Be sure you pay close attention to the HOAs, as sometimes rentals are not allowed for a year or so. Also, the HOA fee can affect your cash flow. The good thing is that Uncle Sam (IRS) provides for tax advantages in leveraged long-term investment properties. You can depreciate the building, write off the interest, deduct for repairs, and even deduct the property taxes and insurance + HOAs. Consult with a tax advisor to discuss your particular situation. Contact me for you free copy of 'Millionaire Real Estate Investor', written by Gary Keller, the founder of Keller Williams Realty. Keller Williams just so happens to be the largest real estate company in the U.S. -- I've owned 5 rentals myself, so you should consider working with an agent that has already been around the block in relation to long-term real estate investments. Good luck! ... more
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Sat Jun 1, 2013
Chris Chin answered:

Proof from your lenders should suffice underwriters requirements. But it is best to ask your loan officer to give you specifically what the underwriters need to satisfy the requirements as they can differ lender to lender. Contact me if your current lender will not give you a pre-qual or pre-approval letter. I work with a few good local lenders.

Chris Chin
Seaside Realty
... more
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Mon Sep 23, 2013
Brent and Rebecca Conley answered:
The time it will take to close. If it is a real price that the bank may accept. (Within 10% of sold comps, typically) What will stay with the property at COE. (if its rented things go missing...Oven, ceiling fans, etc.) There are more but that is why you need to hire an agent that understands these risks. (Doesnt have to be me just get a good one) ... more
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Sun Oct 14, 2012
Barry Shapiro answered:
The question right now is not 'Should You Buy?" -- but, rather, 'Can You Buy?' a home. There are multiple offers over list price and very low inventory. Oxnard only has 30 homes 'active' under $300K. So, I recommend you do not try to buy if you do not have ALL CASH. It will be a very frustrating experience for both you and your agent. You will be running around from home to home, getting emotionally involved with the property, only to find out they accepted a cash offer. The cash buyers are snapping up the deals right now. So, pass for now... wait for a surge in inventory once the shadow inventory gets released, and then you'll have more homes to choose from and more negotiating power. Interest rates should remain stable for the reason you sited above -- the economy isn't growing. ... more
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Mon Oct 22, 2012
Carina Powers answered:
Hello, Where are you looking to buy? I am happy to help you.
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Fri Aug 31, 2012
Team Komar answered:
I have closed 6-7 VA lender homes with NAVY SEABEE Officers since January. I highly recommend UNITED VETERANS formerly VA Home Loans. Let me know if you have any further questions. I have served from E7 Chief Petty Officers to 2nd in Command at Port Hueneme. As a smaller
independent available 24/7, I would feel priviledged to help another selfless Warrior of this great nation.
... more
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Fri May 3, 2013
Cindy Davis answered:
You will pay it along with your property tax. It will just be a higher tax payment than for a home without mello roos. If there is any good news about Mello Roos, is that you can write it off on your taxes. ... more
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Wed Aug 29, 2012
Harold Sharpe answered:
You should consult with your CPA.
you might want to read the IRS website info,,id=204671,00.html

Harold Sharpe - Broker
So Cal Homes
(951) 821-8211
California Department of Real Estate Broker License # 01312992
... more
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Sun Jul 15, 2012
Barry Shapiro answered:
These brand new homes are located in a gated community and come with an alarm system. Check with the Port Hueneme police dept and city hall for local crime stats., etc. The HOAs are a bit on the high side. It's a good idea to be represented by a real estate agent, even on new construction homes. Be aware that the commute to the 101 fwy to access the rest of Ventura County can be time-consuming from PH. Good luck exploring! ... more
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Wed Apr 25, 2012
Alain Picard answered:
The first thing you would need to do is talk to a few lenders about getting pre-approved for a loan. If your parents are willing to co-sign for you let your lender know about their situation and find out if it will help you or not. Once you've been pre-approved for a loan you will know how much house you can afford and you can find a local real estate agent to help you start looking for your new home. ... more
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Sat Feb 18, 2012
Barry Shapiro answered:
There are programs and creative financing approaches. You would want to explore these and then get prequalified.
0 votes 8 answers Share Flag
Tue Aug 2, 2011
Barry Shapiro answered:
Hi Alan... This is an excellent question to ask up front before proceeding with the home-buying process.
Get to know us at Keller Williams:
Keller Williams Realty, Inc. is an Austin, Texas-based, real estate franchise company with almost 80,000 real estate agents, operating in more than 700 market centers (offices) across the United States and Canada. Keller Williams Realty is currently the second-largest residential real estate company in the United States.

Keller Williams Realty was founded in 1983 by Gary Keller and Joe Williams with the mission to build careers worth having, businesses worth owning and lives worth living® for its associates.

Read more about our company and the awards we have received:

When you are ready to learn more about the home-buying process, contact us for your complimentary copy of "Your First Home", written by our founder Gary Keller. When you are ready to relocate, find Oxnard real estate here:
... more
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Wed Jul 13, 2011
KARIN ZELLER answered:
Dear Wayfarer, How far into escrow are you? IF you are within your 17 days per the Purchase Agreement, then you should be able to get your deposit back with no penalties. As long as you didn't alter the contrsact, sogned no paperwork that states the seller would be abe to keep your deposit, then you have every right to cancel & get ALL your monies returned. ... more
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Fri Dec 10, 2010
Janis Calkins answered:
If you want an excellent agent for that area, contact Hope Goss. She is a very knowledgeable agent.
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Wed Nov 17, 2010
Paul Burton answered: will probably be your best bet here.
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Fri Aug 6, 2010
Barry Shapiro answered:
As you may be aware, there is a plethora of lendng products available for those that qualify. If you are seeking choices, followed by a decision, give Platinum Mortgage a phone call. They SPECIALIZE in VA and other loan programs that best suit you:

Steve Carrigan, CMPS CLA
Financial Educator
Platinum Home Mortgage
Carrigan Financial Group
805-389-0282 ext 806
FAX 805-228-4034
Mini Application Online:
... more
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Thu Jun 3, 2010
Karen Parsons Fiddler answered:
HI Yajaira,

Sounds like you are doing fine. Most likely the bank came back and needed a higher "net" which your agent told you about? So you agreed to that number? is that right? Generally, the lenders then just move forward to generate the approval letter. Either your agent, or the listing agent are in contact with the lender and can get you a timeframe when they expect the letter to arrive. I've had it happen the same day, and I've seen it take 10 days...just depends on the lender. If the new price is based on the guidelines, and now the lender is submitting for final approval (or perhaps to the investor) it can take another couple weeks. Talk to your agent! They can give you a better answer.

Good luck and congratulations on your new home purchase,

... more
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Fri May 17, 2013
Barry Shapiro answered:
Hello Flipperdave,
The city of Oxnard, CA is a difficult market to buy-and-flip in, although it can be accomplished if the right deal should come along. You would want to start with a 100-day plus on market REO property that needs $30K in work, for instance. The Oxnard market has returned to prices last seen in early 2002. The rest of Ventura County, with some exceptions, has returned to prices last seen on 2003, comparatively. Oxnard was a boom-town in the 2003-2007 bubble -- experiencing double-digit price appreciation each year. Well, those same homeowners are now a part of a mortgage disease that has forced a tremendous number of distressed properties onto the market, causing the rapid and extreme price declines. So, bottom line -- exercise extreme caution when flipping in this area, as you will have competition in similar homes that will be on the market when you are ready to relist your investment property. ... more
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Sun Dec 28, 2014
Jacqueline Walker answered:
Rory.....this question really needs to be discussed with your real estate agent and/or a real estate attorney. Did the previous buyers cancel their escrow? Was your offer accepted subject to cancellation of the prior escrow? ... more
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Tue Apr 27, 2010
Barry Shapiro answered:
Hi Blue,

We are here for you and ready to help you locate the perfect home for your needs. Feel free to check out our website, where we post the new listings for you. Steve Robles is our local Oxnard Buyer's Agent, ready to assist you Sunday (tomorrow) as soon as you are ready to rock 'n roll. Give Steve a call tonight or in the morning, at 750-1000. Our team can make the homebuying process a pleasant one. ... more
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