By: Derrick Timmons
After reading a Ventura County economic study conducted by Cal Lutheran University reporting for 2015, I noticed Housing Affordability showed something important. The numbers indicated that only 25% of all First Time Home Buyers can afford the median price home of $619,060 in Ventura County.
To look at it a different way, 75% of all qualified prospective home buyers cannot buy an average home in the location they are looking for. What does this mean for most of the new home buyers in Ventura County? You need to keep looking. While this may be daunting there are still homes available in the lower price range, in desirable areas- it just might take a little more time and expertise to find them. Here are a few examples of quality homes that have sold lower than the average Ventura County Home Sale price but are still good values in good areas:
2163 Farnworth St. Camarillo SOLD for $470,000. It is a 3 bedroom, 2 bathroom home with 1500 sq. ft. interior and 7100 sq. ft. lot size.
1008 Gracia St. Camarillo CA SOLD for $471,000. It is a 3 bedroom, 2 bathroom home with 1930 sq. ft. interior with a lot size of 7200 sq. ft.
1400 Lodgewood Way Oxnard CA SOLD for $460,000. It is a 3 bedroom, 2 bathroom home with 1350 sq. ft. interior with a lot size of 6090.
As you can see from the above examples, there are nice, lower price homes available for First Time Home Buyers. There may be challenges to finding them, but they ARE out there. A Realtor’s expertise is very useful in this type of situation because if there are only a few of these types of homes you need someone who is working hard for YOU and can give you the most up-to-date information available and help you quickly and professionally make an offer. It may seem daunting to find a deal like this but if you don’t find it some other buyer WILL.