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Foreclosure in Ventura : Real Estate Advice

  • All169
  • Local Info14
  • Home Buying52
  • Home Selling4
  • Market Conditions11

Activity 7
Mon May 23, 2011
David Cooper answered:
Why don't you believe your real estate agent? I am sure she wants to make the sale and collect her commission as much as you want to buy the house.

David Cooper! Las Vegas Foreclosure Investor in Bank Owned REOs with Huge Cash Flow. for Freee List email: or Call +1-7024997037 ... more
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Sun Apr 24, 2011
Anna M Brocco answered:
Yes, do acquire a mortgage pre-approval beforehand--also consider working with any local agent of your own--interview a few agents from different realty offices in person, then choose the one you like best--choose your agent with care. ... more
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Tue Oct 12, 2010
Ryan John answered:
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Sat Feb 20, 2010
Hope Goss answered:
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Tue May 13, 2008
Barry Shapiro answered:
As in all real estate transactions a BUYER determines the price they are willing to pay and either the seller accepts it, rejects it or counters the price. Evidently, the Listing Agent determined that the current list price is what the "market price" should be. The REO bank has never seen the property and bases it's decision on both what the market will bring and how motivated they are to unload this asset from their balance sheet.

I would recommend you have a Pest Control/Termite Inspection done on the property prior to submitting an offer. The REO lender will not generally pay for the termite work, but you can ask for a credit or bake it into your offer. I can refer you to a termite inspector (local) that will bill his inspection to escrow -- so no out-of-pocket expenses to you. Bottom line... Any property you write an offer on better include a 10% anticipation in further price declines and remember YOU determine the final price you are willing to pay. I suggest you ignore the "sticker" price in today's uncertain market. Good luck!
... more
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Thu May 22, 2008
Laarni G. Omingo answered:
Hi Deborah,

If you have an agent, he/she can help you get this info especially if you are planning to buy a unit in this development.
Good Luck,
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Tue Feb 8, 2011
Bonnie Sterling answered:
I honestly believe that what you read is optimistic for housing as a whole. All indications are that depreciation will last longer. Ventura is somewhat unique and that is supported when you check the link below for depreciation percentages reported for last month. Overall the VC is down just over 4% for Single Family homes but for your zip code the percent of change is a low 1% but condos are slipping in your area (they are typically the hardest hit by percentage in a down market). Ventura prices stay strong, stronger than other areas of the VC for just the reasons you mention but I think that if we see strong value declines throughout the county, it will eventually impact even your area. There are a lot of people who have weekend homes in the beach communities. If these homeowners encounter financial distress some of these weekend homes may end up foreclosed or sold by desperate Sellers. This is what is happening elsewhere and I dont think Ventura will be sheltered completely. Specifically, your questions asks about the next 6-12 months. Of course no one has the crystal ball but I think that typical winter slow down, coupled with high inventory, layoffs of major local employers (Amgen and Countrywide), the influx of lots of new foreclosure activity in addition to people who willl just have to sell for a variety of reasons, is going to cause some depreciation in home values, even in your area. To keep tabs, I have referenced dataquicks posting below. ... more
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