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Saticoy Local News

News for Saticoy, CA - October 14th, 2014 12:56pm
Market is strong and new construction is on the rise in this area as well as remodels. Time to buy or sell is now why this market remains very even in terms of buyers and sellers.
National Market Conditions
2017 3rd Quarter Market Report: Home Sales and Prices Hit a Wall

The 3rd quarter of 2017 ended with not much of a change from the 2nd quarter. Home sales are down slightly and home prices continue to rise with median home prices up 4.2% year over year, but down from the second quarter's 6.2% increase. The primary reason for the slow-down in sales is the limited number of homes for sale, higher prices and less buyers being able to afford to buy a home.

The most notable change in the 2nd quarter was a shift in the amount of buyer activity declining 16% from last quarter. Additionally we found a significant change in the amount of price appreciation. Although 91% of the markets reported price appreciation there was an 11% shift from those markets reporting 5-10% appreciation and over 10% appreciation to those markets reporting under 5% appreciation.

According the National association of Realtors (NAR) existing home prices were up 4.2% over last year; the inventory of unsold homes is at a 4.2 month supply and 48% of all homes were sold in under one month. Still home sales dropped overall due to the low inventory of homes for sale.

The data in this report is generated primarily from our survey of HouseHunt.com and MoveUp.com exclusive member real estate agents across the United States. This grass roots approach to studying the housing market gives us a thorough look at where the real estate market is through the eyes and perspective of the local real estate agents who are living and working in the trenches of each community.

Buyer and Seller Activity
The trend in buyer activity is significantly higher than seller activity, however there was a definite downward trend in the number of markets continuing to show increasing buyer activity in the 3rd quarter. Our Realtors reported increasing buyer activity in 73% of the markets - down 16% from last quarter, but up 7% compared to last year. Seller activity was increasing in 49% of the markets in the 3rd quarter which was no change from the 2nd quarter, but up 9% over last year.

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Fall 2017 Market Update
Qualify now, it is an exceptional time to buy a home. Low rates with rising home prices makes a home purchase a great value! Call now for more information at 805-312-0512
Average Sold Home Price: $475,000

Average Time on Market: 30-60 days

Best Selling Price Range: $400,000 - $449,000

Existing Home Prices for the past 90 days: Decreasing

Market Trend: Increasing

Buyer's or Seller's Market: Equal buyers and sellers

Buyer Activity for the past 90 days: Decreasing

Seller Activity for the past 90 days: Decreasing

Multiple Offers? Yes

Multiple Offers Commentary: Depends on condition of homes

What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales? 5-10%

Is Financing Available For Qualified Buyers? Yes

Comments on Financing For Qualified Buyers: I reccomend Brian Minkow at Prospect Mortgage 818-512-1111. He is simply the best and does what he says he will do. Tell him I sent you.

Housing Inventory: Very tight market

Greatest Activity: Repeat Buyers

Best reason to buy or sell: Good economic news

Nearest Metro Area: Ventura

Housing Hot Spots: Ventura, Camarillo, Oxnard, Ojai, Santa Barbara

Contact Information
Larry Krogh
805-312-0512
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Mortgage Rates for Nov 20th, 2017
30 year fixed rate: 3.84%
15 year fixed rate: 3.15%
30 year jumbo rate: 4.10%
15 year jumbo rate: 3.80%
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Real Estate Professional, Larry Krogh Larry Krogh
GP Real Estate Company
Specializing in Saticoy Real Estate
554 Main Street
Ventura, California 93001
805-312-0512
Email Me | Receive New Listings by Email
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(Because current market conditions can change rapidly in any given marketplace,
please check with Larry Krogh for current Saticoy, CA market conditions before acting on this information.)
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