Lynn's Blog

Breaking News

Lynn Kenton Ventura Real Estate (Ventura Property Shoppe) — Thu, 05 Nov 2009 17:02:32 -0600

First-time Homebuyer Tax Credit Extended

The U.S. Congress has approved a bill that extends and broadens tax credits that were set to expire this month. The bill extends the credit for contracts signed by April 30th and closing by June 30th.

Income limits are expanded to cover more affluent buyers; couples earning up to $225,000 and individuals earning up to $125,000 annually now qualify. It also creates a new $6,500 credit for buyers who have owned their current home for at least five years. Homes worth more than $800,000 wouldn't be eligible.

President Obama is expected to sign the bill as early as tomorrow, although he may have his hands full with the Fort Hood situation...

GOT THE REO BUYER BLUES???

Lynn Kenton Ventura Real Estate (Ventura Property Shoppe) — Wed, 04 Nov 2009 13:28:17 -0600

The days of flagrant overbidding may be coming to an end- even for well qualified investors- unless it's an all cash offer. One of our local Ventura Real Estate Brokers who does a lot of business in REO'S has reported a new trend on the part of the seller/ lenders.

Typically, what we've seen with multiple offers is buyers offering far over list price and value just to be "the chosen one". All the while you're head is straining from the HIGHEST AND BEST OFFER guessing game. The logic is that if it doesn't appraise, the seller will negotiate a lower realistic price rather than put it back on the market and start over.

I'll admit to being guilty of this because, after all, I have a selfish streak and I want MY buyer to get the property after I've written 8 realistic offers and gotten knocked out by those pesky over-bidders. It's particularly daunting if you have an FHA or VA buyer...(picture PeeWee Herman in the ring with Mike Tyson- not a pretty sight, eh?)

So now if they're considering accepting an offer absurdly over market value, they require the buyer to ammend out or delete the appraisal contingency and pay the price difference in cash if it doesn't appraise.

In all honesty, I'm surprised they haven't caught on sooner and it will be interesting to see how quickly the rest jump on the band wagon and level the playing for all.

I'd love to hear if any of you have had any experience with this yet!

Therapy For Real Estate Professionals

Lynn Kenton Ventura Real Estate (Ventura Property Shoppe) — Fri, 30 Oct 2009 08:31:00 -0500

Is the market still getting you down? Are you struggling to get in that Happy Place and keep on your Game Face? Ready to pull that short sale Negotiator who lost your file for the last four weeks through the phone lines?

Fear not! I have the perfect answer to your mental woes! PLAY WITH YOUR FOOD!!!!

The merits of this treatment are as follows:

1. It's cheaper than a Shrink.

2. It doesn't have to come in at value.

3. You can use common household items. (i.e. It's inexpensive)

4. Doesn't need recharging and so eliminates the pesky daily task of finding the right charger.

5. The wine corks have to come from SOMEWHERE.

Any additional ideas my friends? Happy Carving and Happy Halloween!

RUMOR HAS IT...

Lynn Kenton Ventura Real Estate (Ventura Property Shoppe) — Wed, 28 Oct 2009 12:55:38 -0500

I heard from one of my lenders recently that we may know in the next week of the fate of the First Time Homebuyer Tax Credit. There are a few possible tweaks to the current system if they renew it, such as:

The current tax credit of $8,000 may be increased to $15,000
Income restrictions may be changed or eliminated. At this time the maximum income is $75,000 for a single person and $150,000 for a couple.
May be used by anyone, not just first time homebuyers. (Defined as someone who hasn't owned a home in the last 3 years.)
6 -9 month extension after the new bill is in place.

There are, of course, pros and cons if this occurs. (Like how much money can we print?) But I don't believe anyone can contest the fact that the current credit has contributed in large part to the increase in sales over the last several months- at least in the Ventura Real Estate market- which is a crucial component in the economic recovery.

Rumors abound like sad tales and short sales what the "powers that be" have up their sleeves. Any scoop out there in AR land???

Welcome Home!

Lynn Kenton Ventura Real Estate (Ventura Property Shoppe) — Mon, 26 Oct 2009 14:07:48 -0500

Very clean, move-in ready Oceana Tract home. 4 bedrooms, 2 full baths. 2 story w/ one bedroom and bath on first floor. Hardwood floors, crown moldings and a good size yard. Over 1800 s.f.

Listed at $315,000. For more information and pictures on this and other Ventura County Homes for sale, contact me or visit my website at http://www.LynnKenton.com

Finally!!!!!

Lynn Kenton Ventura Real Estate (Ventura Property Shoppe) — Fri, 16 Oct 2009 15:57:38 -0500

Let's be honest, the market is coming around, but it's a test of fortitude and resilience for agents and their buyers to find and close a deal these days. You put in offer after offer and the entry level buyers frequently get knocked out of the ring by investors with a higher down payment or cash. Now, PLEASE, all my investor friends, don't misinterpret that last statement, just know that everyone has to start somewhere and sometimes the first time home buyers feel like Peewee Herman in the ring with Oscar De La Hoya.

Being encouraging and accessible as an agent when they're feeling downtrodden can keep a buyer on the right track and make for some good referrals down the line. This latest closing took awhile to come to fruition, but we were blessed with another set of great buyers who stuck it out for over a year total!

After following my web site for several months (thank you AR for Google placement assistance!) I received a call from Aaron and Kristyn who were getting discouraged having written about a dozen offers with another Realtor. Not sure what transpired there, but we began working with them. After a seven more offers and a lot of patience and pep talks , we closed escrow yesterday on a great Ventura Home!

The absolute best part...?

When you can hear the wife squealing with unbridled glee a 1/4 block away, you know it's a good day!

It's Raining Puppies!

Lynn Kenton Ventura Real Estate (Ventura Property Shoppe) — Wed, 14 Oct 2009 19:18:26 -0500

It's a trifecta today!

1. Closed an escrow for some great clients on a Ventura Home. (I think we wrote a total of 8 offers along

the way.)

2. Got some much needed rain in Ventura - 2 " +!

3. "Taxi" the wonder dog is in labor since 7 AM and has birthed 7 healthy white lab puppies so far.

A Class Act In Downtown Ventura

Lynn Kenton Ventura Real Estate (Ventura Property Shoppe) — Mon, 28 Sep 2009 11:11:22 -0500

First, let me say that I LOVE good food. I also love to cook. Unfortunately I've cooked myself into a corner. I usually love my job, but after a long day of dealing with Ventura Real Estate, I don't always have the desire to create a gourmet meal. My husband says I can cook as good as any chef and rarely wants to go out to a nice dinner. (Pizza and such does not count, though I like that too.) Is he being complimentary or being a cheapskate? Hmmmm, I'll not ponder that for long.

So when the opportunity came up last week to take our daughter out for her birthday while he was out of town, we jumped at the excuse to go out and have a REALLY NICE DINNER. On his dime, I might add:)

Westside Cellar

in Charming Downtown Ventura has been around for a few years and has gone through some changes in owners and chefs. Having heard some good chatter about the new chef we decided to give it a try. Turns out it was a fantastic choice.

The Prosciutto Wrapped Scallop appetizer was delectable served with a cilantro pesto and a balsamic reduction. I could have eaten a dozen of those!

For our main course we both chose the seared duck breast which was cooked to perfection. Crispy skin (gotta have it sometimes) slightly pink in the middle and succulent with a fruit compote to offset the rich flavor. We opted out of the apple risotto (wouldn't want too much fruit with my meat) and substituted the truffle pomme frites. OMG! Pure heaven on a pretty plate! (The gym is only a day away...)

Our servers, though young (guess I can't hold that against them), were both attentive and knowledgeable with the food and wine. The atmosphere is cozy and elegant and I can't wait for an excuse to go back. Ideas are welcome!

Give it a try next time you're in Ventura looking for a dining experience that's a notch above the norm.

(Sorry about the grainy pictures but it was the best I could do with my Blackberry and a glass of wine. Or two...)

(The Happy Birthday Girl!)

Ventura Homes Real Estate Snapshot

Lynn Kenton Ventura Real Estate (Ventura Property Shoppe) — Tue, 08 Sep 2009 14:41:59 -0500

I updated the bi-weekly Market Stats for Ventura Homes last week. We're still holding strong especially in the $450,000 and under range with homes in escrow now outnumbering the available homes by almost 6 to 1.

Wondering when and if any more REO's will be released and to free up more inventory for our anxious buyers!

9/2/09

Active Contingent Pending In Escrow Sold DOM Av. $ Med $

All Prices 233 169 116 285 432 85/103 $408,870 $372,500

-$450,000 74 143 85 228 308 74/88 $296,100 $307,500

GOT TOYS? THIS HOUSE ROCKS!!!

Lynn Kenton Ventura Real Estate (Ventura Property Shoppe) — Fri, 28 Aug 2009 14:59:44 -0500

A B-E-A-utiful Ventura home with extensive upgrades. Custom tile & paint thru-out. Granite countertops in a gourmet kitchen with custom cabinets. French doors lead to a beautiful covered patio in backyard for entertaining. Expansive Master boasts a bedroom size walk-in closet for all your sartorial cravings. Loft area is large enough for pool table or another bedroom. 3 Car Garage and a huge lot complete the picture!!!

Listed at $625,000

http://idx123.realtytech.com/lkenton/nacimiento.aspx

http://www.LynnKenton.com

Sad To Say, Back On The Market.........!

Lynn Kenton Ventura Real Estate (Ventura Property Shoppe) — Wed, 08 Jul 2009 18:19:12 -0500

And no, it wasn't an appraisal issue here! This well cared for 4 bedroom, 2 bath home has hardwood floors, upgraded kitchen and baths,office/bonus room off of the kitchen, lots of cabinets, lots of windows, bright home. New Pool and spa in backyard.

Listed at $429,000

2118 Antonio Dr., Camarillo, CA

OPEN HOUSE THIS SATURDAY & SUNDAY FROM 1-4!

Department of Insurance Has Come To Their Senses...For The Moment

Lynn Kenton Ventura Real Estate (Ventura Property Shoppe) — Tue, 07 Jul 2009 11:09:32 -0500

According to a title company source, the Department of Insurance has finally seen the light and retracted their recent misguided decision of no documents and comps from our hard working Title Companies! Thank you CAR and NAR for your efforts in making my job of selling Ventura homes a tiny bit easier. Now if only we could fix this HVCC mess....

A Sign of the Times?

Lynn Kenton Ventura Real Estate (Ventura Property Shoppe) — Wed, 01 Jul 2009 14:42:47 -0500

We finally got our approval on a short sale that's been in escrow for almost 4 months. Yeah! Sold for $350,000 and appraised at that - 3 1/2 months ago.

Sooooo, the sellers lender (Countrywide) says it's a go, but we'll only take $315,000 for it. Apparently they're afraid of a review appraisal that would begin the whole process again. Say what??!!!! The buyer is elated because they just saved themselves $35,000 due to the slow response time.

And word has it that now WAMU has a crew of five full time employees to just process and post the incoming faxes. Maybe the loss mitigation and asset management departments are finally getting a clue? I'd love to hear from someone who works in that capacity and get some insight... Time is money for all of us!

Visit Ventura!

Lynn Kenton Ventura Real Estate (Ventura Property Shoppe) — Mon, 22 Jun 2009 09:59:48 -0500

Butterflies Alive!If you're planning a trip to Ventura, CA this summer, make it a point to take the short drive north to Santa Barbara (about 35 minutes) and visit the Santa Barbara Museum of Natural History (www.sbnature.org) to take in the BUTTERFLIES ALIVE! exhibit. An open air enclosure housing over 1,000 butterflies is home to these flying specimens and the plants that attact them.

Enter the enclosure and experience the grace and beauty of nature at it's best. It's a treat for all ages and you can spend all the time you want there. It IS unforgettable!

Appraisal Woes??? Get On The Bandwagon And Sign The Petition!

Lynn Kenton Ventura Real Estate (Ventura Property Shoppe) — Fri, 12 Jun 2009 14:39:39 -0500

Meeting an appraiser some days is akin to, hmmm, let's see, scheduling a root canal, preparing for an IRS audit, seeing a flashing red light in your rear view mirror. The list goes on and on.

This HVCC fiasco is costing untold amounts of money to consumers (some estimate in the billions of dollars). And what about the real estate market that is finally starting to show some tiny rays of light at the end of the tunnel?

I don't see this new system as being a fix. Not that all appraisers are to blame. I have two brothers and several friends who are appraisers. Unregulated Appraisal Management Companies (AMCs) are causing good appraisers and lenders with integrity to leave the business, causing huge delays in real estate transactions which affects everyone from the homeowners to the third party companies.

And now that the buyer can't take their appraisal to a different lender, they're stuck with the original lender even if he/she's an idiot unless they want to fork out another appraisal fee.

We're all in this together so let's put on some pressure. It will only take a minute to click on this link and voice your opinion before it really gets out of hand. Please sign it today!

www.hvccpetition.com

Ventura Hillside View Home

Lynn Kenton Ventura Real Estate (Ventura Property Shoppe) — Wed, 10 Jun 2009 13:35:49 -0500

Ocean views and a large lot compliment this classic custom home. Over 2600 ft. of tastefully appointed living area is accented by flagstone, slate, tile, & rich wood paneling. Enjoy the sun-soaked flagstone patio or large lawn area dotted with fruit trees in the fully-fenced back yard.

For more pictures and info on this and other Ventura Homes for sale, http://idx123.realtytech.com/dorothy.aspx?user=lkenton

It's A Jungle Out There!

Lynn Kenton Ventura Real Estate (Ventura Property Shoppe) — Wed, 10 Jun 2009 13:27:49 -0500

Wordless Wednesday- Fun In The Sun

Lynn Kenton Ventura Real Estate (Ventura Property Shoppe) — Wed, 03 Jun 2009 11:52:30 -0500

Every Closing Is An Event

Lynn Kenton Ventura Real Estate (Ventura Property Shoppe) — Tue, 02 Jun 2009 12:21:51 -0500

Although I have to give credit to my broker Jeanne for this idea, I liked it enough to pass it on...

Most of us like to do something nice for our buyers when they close their escrow. I try to go to the home before they arrive to leave flowers, champagne, or a gift. This time we Rolled Out The Red Carpet, literally. It was a big hit!

A word of advice- the runner that we used that day was cumbersome and stiff. Broke a nail rolling it up (I know, big deal!) I'll invest in one of those lightweight plastic red runners for the next one.

The Happy Family In Their Ventura Home

Thank you Phil & Erinn!!!

Improvement on First-Time Buyer Tax Credit

Lynn Kenton Ventura Real Estate (Ventura Property Shoppe) — Sat, 16 May 2009 09:49:22 -0500

Recently, Shaun Donovan, secretary of the U.S. Department of Housing and Urban Development, on said that the Federal Housing Administration will permit its lenders to allow home buyers to utilize the $8,000 tax credit as their down payment.

Until this is signed most buyers couldn't take advantage of the funds until they'd filed their tax returns. This prevented some people from utilizing the credit. The NATIONAL ASSOCIATION OF REALTORS® has been calling for the change.

"We all want to enable FHA consumers to access the home buyer tax credit funds when they close on their home loans so that the cash can be used as a down payment," Donovan says. His remarks came in an address to several thousand REALTORS® gathered Tuesday morning at "The Real Estate Summit: Advancing the U.S. Economy," at the 2009 REALTORS® Midyear Legislative Meetings & Trade Expo in Washington, D.C..

He says FHA's approved lenders will be allowed to "monetize" the tax credit via short-term bridge loans. This will enable eligible home buyers to access the funds immediately at close of escrow instead of waiting.

One thing I'm advising my 2008 first time buyers to do is talk to their tax preparers about doing an ammendment to their returns this year rather than waiting till next year if they've already purchased. We have to assume that this credit money won't be around forever.

News at eleven...

TIME TO GET A MOVE ON (Literally & Figuratively)

Lynn Kenton Ventura Real Estate (Ventura Property Shoppe) — Thu, 30 Apr 2009 13:08:48 -0500

If you're a buyer that's on the fence, it could be perfect timing right now.

I just updated the biweekly Market Stats for Ventura and Ventura County Homes this morning. We're still holding strong especially in the $450,000 and under range with homes in escrow outnumbering the available homes by about 2 to 1.

It remains to be seen what will happen when the banks release some of the REO's they've been hanging on to..........

Ventura MLS Statistics

4/15/09 Active Contingent Pending In Escrow Sold DOM/CDOM

All Prices 228 115 102 217 442 83/107

-$450,000 78 91 72 163 335 77/98

4/30/09

All Prices 231 133 104 237 430 83/106

-$450,000 84 105 77 182 322 77/96

New Listing!

Lynn Kenton Ventura Real Estate (Ventura Property Shoppe) — Wed, 22 Apr 2009 17:54:49 -0500

This beautiful home shows like a model!

3 bedrooms, 2.5 baths, plus a loft Easy commute to Santa Barbara or the Southland.

Ammenities include hardwood floors, custom tile in kitchen, window shutters, family room with fireplace. http://www.LynnKenton.com or http://idx123.realtytech.com/pacos.aspx?user=lkenton

HEY!!! You lookin' for a new home too?????

Lynn Kenton Ventura Real Estate (Ventura Property Shoppe) — Wed, 22 Apr 2009 13:37:00 -0500

Ventura, CA Real Estate Snapshot

Lynn Kenton Ventura Real Estate (Ventura Property Shoppe) — Tue, 21 Apr 2009 19:36:34 -0500

We just pulled the stats from Ventura County MLS for the County and the cities of Ventura and Oxnard/ Port Hueneme for attached and detached single family residences. It appears that the low end properties under $450,000 have finally settled into a bottom.

For the first time in a couple of years, the amount of properties that are in escrow consistently outnumber the amount of properties that are currently on the market for sale. Any well priced property is currently receiving multiple offers in this range. This is due to the very low interest rates and FHA programs available to home buyers.

Here are the stats... Buyers that have been waiting for the bottom in this price range should act now...

__________________________________________________________________________________________

City of Ventura MLS Statistics

Active Contingent Pending In Escrow Sold DOM

3/4/09 91 73 75 148 333 81/106

4/15/09 78 91 72 163 335 77/98

______________________________________________________________________________

Oxnard & Port Hueneme MLS Statistics

Active Contingent Pending In Escrow Sold DOM

3/9/09 459 285 332 617 1160 87/117

4/15/09 352 335 324 659 1183 86/114

____________________________________________________________________________________________

All Ventura County MLS Statistics

Active Contingent Pending In Escrow Sold DOM

3/4/09 1159 656 704 1360 2677 90/118

4/15/09 899 828 729 1557 2729 88/114
__________________________________________________________________________________________________________

* Note that the number of active listings has decreased while the homes in escrow are increasing, indicating a change in direction for the market.

Spring Fresh Cleaning For The Heart, Soul and Mind

Lynn Kenton Ventura Real Estate (Ventura Property Shoppe) — Wed, 15 Apr 2009 13:22:58 -0500

Spring break was approaching and I was eagerly looking forward as always to having my ten year old niece visit us for a few days. As always, we endeavor to find something fun and preferably new to do together that hopefully will not break the bank.

I'm fortunate to have a few creative souls in my life that I lean on for novel ideas and input, one of them being my daughter, Jen. She emailed me with " I know this isn't up your alley, but how about a day of fishing at Rose Valley?" Not up my alley indeed! I'll show her... I even text-ed her back to show how grown up I've become and said "You are ON."

Fishing day arrived. We packed sunscreen, lunch, several layers of clothing, poles and tackle. Stopped at the Corner Market to buy live bait and the three of us headed for the "hills".

Upon our arrival, a man approached us and offered us two of his trout as he'd limited out. Now this could be construed as a bad sign (maybe he didn't trust our abilities as the seasoned anglers we were) or we had an ace in the hole in case we arrived too late in the day for the fish to be hungry. I wisely decided not to over analyze the gesture and not being one to look a gift fish in the mouth, we gratefully accepted and proceeded to set up our poles.

Teaching a left handed ten year old to cast is an experience in patience for all involved. We finally got it to click and she threw the line straight out about fifty feet. The look on her face was that of someone experiencing gleeful epiphany and pure unadulterated joy. Think hair blowing in the wind, big brown eyes opened wide in surprise and a smile that reached from the beach to the state line. This is what it's all about for me. Stress melts away, troubles are gone for the moment. These are the good times we must etch in our poor overloaded hard drives. Spending some quality time with people we love and love to be with!

I have to tell you all, even if you hate fish or fishing, try this for even an hour or so. Go somewhere outdoors away from crowds, traffic and cell service (or turn off your phone- and don't cheat!). Take a book, music, camera or nothing at all if you like and just CHILL. This was a mental overhaul and Spring Cleaning of biblical proportions! I came out of there feeling a lot lighter.

When was the last time you took some time for yourself? Excuses abound...

I'm too busy.

(Make an actual appointment with yourself- yes you can do it!

What if I miss a good lead with my phone turned off?

(Partner up with someone at your office and exchange the favor- trust me, it's a great system)

I can't afford it.

(I think public parks are still free...)

When I have time off, I need to catch up on laundry, yard work, etc.

(Trust me it will all still be there when you return and you don't have to take an extended sabbatical to reap the benefits)

With all of the negativity we're bombarded with on a daily and hourly basis from the time our feet hit the ground to when our heads hit the pillow, we have strive to be good stewards of our own well being and achieve some balance in our lives. You'll thank yourself and so will those around you. Let me know how it works for you...

And yes, I put the worms on by myself.