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March 2019 Ventura County Real Estate Market Update

April 11, 2019 by Derrick Timmons

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What are your goals? How do market stats help you? Is it just interesting or do you use stats as an actual guide to how you consider your Real Estate buying and selling? Either way this months market is interesting. We have many predictable patterns but there are a few stats that may indicate a shift. Overall we are still in a steady seller’s market but this could be changing soon. 2018 and now into 2019 has seen more homes for sale than the two years prior. Does this mean we have more homes on the market than buyers can handle? The continued pressure from buyers causes there to be a consistent sellers market. See the below stats for Ventura County.

Ventura County low Months of Inventory indicates we are in a strong seller’s market where seller’s still have leverage due to lack of inventory.


Ventura County’s sales numbers indicates that this spring had a predictable upward trend especially for pending homes.
The last three years for Ventura County Sales
This shows Ventura County average home prices for sold homes have increased slightly but aren’t as high as last year, yet.
Ventura County
average home prices for sold homes over the last 5 years.

Based on the above stats, please review the following ideas to help guide your decisions:

Investing
IF you can find an under market value property, it is always a great time to buy.    Everyone wants a deal, but the only way to find an outstanding deal is to know someone. If you are going to buy a single family home or condo on market to invest, you MUST know the area very well to determine if it is in a pocket that is highly desirable.  If you find a good deal, now may be a sweet spot in the market. There are some homes that have been on the market for too long with hungry sellers and rates have dropped. As always, a careful evaluation of what your monthly mortgage will be and your future monthly rental income would reveal what your best option is.

Buying
Rates have dropped a lot with some pretty remarkable rates and there are some pretty good deals out there for homes that have been on the market for a long time. Most people buy in late spring and summer, so this may be your chance to buy since more homes will become available for you to choose from.  Are you prepared?  Have you spoken with your mortgage professional to clearly understand what you can qualify for?  Do you fully know your monthly budget?  Doing these tasks can prepare you for when the time is right. Finally, will you wait too long for the right time while passing up good opportunities to buy?

Selling
As noted above, now is still an overall good time to sell. Home values are up and inventory is down from the holiday slow down. Remember, don’t trust Zillow’s Zestimate completely. Its good, but you’ve got to talk to an agent who can price your home accurately based on all the aspects the home represents not just an algorithm. Be sure to price competitively so you don’t get stuck on the market for very long.


If you liked these stats please reach out and let me know about it!  If you have any questions about the Real Estate market or the process of buying or selling a home please contact me. Contact me today if you are ready to buy or sell a home.

Derrick Timmons
805.807.3987
realtortimmons@gmail.com
www.derricktimmons.com

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Derrick Timmons

realtortimmons@gmail.com
805-807-3987
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Our Mission Statement

“Personal Service, Professional Results”

Personal Service

In Real Estate there are deals and there are people behind the deals.  We focus on creating a smooth Real Estate experience for you by doing our best to understand what you need from us to make buying or selling a home successful.  We do our best by asking questions and listening to you carefully then genuinely serving your needs. 

Professional Results

We also, however, strive to get you the results you want by being tough in negotiating the best deal for you and being organized and communicative during this complex transaction to make sure every part of the process is taken care of properly.  To help you accomplish your goals, Derrick applies his successful competitive experiences in sports and education to exceed performance expectations and get you the results you want.

What others have said

Derrick helped us find our first house and I can't even begin to say how thankful I am for using him. For a process that can be so incredibly tedious and hard, he made it such a breeze. He is honest, hardworking, and will go above and beyond. I have and will continue to recommend him to everyone that I know. In the future whether we are buying or selling we will not use anyone else. He is THE absolute best. Thank you so much so helping us buy our first house Derrick, we are forever grateful!

Kaitlin Winter

When we needed to find a realtor to help us find a property in Camarillo as part of a 1031 exchange, we thought of Derrick.

Our transaction was a little more challenging than most in that we were selling two properties out of state that were also involved in the exchange and finding a replacement property and closing was key. Finding a property was time consuming in a hot market but Derrick never gave up hope that we would find a property. Once we entered into escrow, Derrick connected us with an exchange company and the transactions were closed in a smooth and timely manner.

Derrick was a pleasure to work with and we would definitely recommend him to our friends.

-Lisa

Derrick is AMAZING. He went above and beyond my expectations of what an agent would/should do. Derrick is the true definition of caring, compassionate and trustworthiness you will ever find. We would not trust anyone else to sell our house.

The Law Family

Derrick is as good as it gets, possibly even better! He helped us purchase our first home. He knows his stuff and did a great job helping us find a place in our budget. He understands the process and communicates with his clients which to me is the most important part of picking a professional to work with. Derrick is highly recommended!

Shawn Lakhani

I just wanted to say again how amazing and easy Derrick made this process...I hope you know that you are part of the family!

Chad Sullivan

Wow! Well done!! I've been a commercial real estate agent for 16 years and I had dozens of agents who wanted to work with me. Derrick dug up the right property and then far exceeded my expectations. Bonus: We had a lot of fun in the whole process! Derrick is knowledgeable, professional, proactive AND a highly moral level headed guy. He's a gem of a find. As my buyers agent Derrick tracked every aspect of the deal for me which made the whole transaction a breeze. He answered all my questions and/or tracked down the information I wanted/needed. To top it off his referral source of trades and related resources was equally impressive. There's no question that he and I will be working together in the future. If you want a good experience (life is short, EVERY experience should be good, and fun) do yourself a favor and just give Derrick an interview and you'll immediately see what I'm talking about.

Shaun Bieniek

Working with Derrick was an honest pleasure. He always went out of his way to accommodate our busy schedules when it came time to looking at houses. He had a series of questions before we started looking to insure that he set us up with the right home for our future. He is professional, knowledgeable, creative in his methods, personable, and best of all effective. I highly recommend him.

Itzie Alarcon

I was really impressed with Derrick's overall real estate service. Within less than two weeks of putting my house on the market, we had a great offer! Derrick was a true professional guiding me through the process of selling my home. Derrick is knowledgeable, diligent, and caring. I highly recommend Derrick to handle your real estate needs!

Maria Callan

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