The 42nd Annual Great Auction fundraiser for the Boys and Girls Club of Ventura will be held at the Marriott Ventura Beach on Saturday, November 21, 2009 at 4:30pm. The theme of this year's fundraiser is "Step Up for Kids - Our Stars of Tomorrow". Attendees will be able to participate in live and silent auctions of great items that have been graciously donated by some great companies. All proceeds from the fundraiser will benefit the five Boys and Girls Clubs in Ventura, Saticoy and Oak View. You can reserve an individual seat for $150 each or get a whole table for $125 per seat. Donations for the live and silent auctions as well as sponsorships for the event are still being accepted. For more information on tickets, answers about the event or donations, please contact Amanda at 805-641-5585 or visit the Boys and Girls Club of Ventura's website.
California's Buyer's Choice Act (Assembly Bill 957) was signed into law by Governor Arnold Schwarzenegger on October 12, 2009. The Buyer's Choice Act prohibits the seller of a property acquired through foreclosure to require a buyer to purchase title and escrow services from a company of the seller's choice as a condition to receive offers or sell the property. That doesn't mean that the buyer can't accept the seller's recommendations for a company for their title and escrow. The seller just can't make it a required for the sale. This new law only applies to residential properties that are improved by four or less units.
Penalties for violating California's Buyer's Choice Act are that the seller is liable to the buyer for three times the amount of all charges made for the title insurance and/or escrow services. In addition, the seller will be considered to have violated their licensing law. However, a sale cannot be set aside solely because this law has been violated. California's Buyer's Choice Act will remain in effect until January 1, 2015, unless it is extended by the Legislature.
Why was California's Buyer's Choice Act put into place? The government felt that the troubled real estate market created a situation where the majority of homes available for resale were in the hands of the foreclosing lenders, which created a high potential for unfairness and abuse by sellers on foreclosed homes.
Loan modification gets a modification in California. Governor Arnold Schwarzenegger signed Senate Bill 94 on October 11, 2009 that prohibits anyone from charging an advance fee for any loan modification or loan forebearance services in California. This includes licensed real estate agents and lawyers. What does this mean for the consumer? If anyone, and that means ANYONE, is trying to get money up front from you when you try to modify your loan, they are doing so illegally. If you entered into an agreement with a California-based loan modification company who demanded an advanced fee before October 11, 2009, this law does not apply to you. However, if you entered into an agreement with a loan modification company in California after October 11, 2009 and had to pay an advance fee, the company is required by law to fully refund the fee.
You've heard of blue-collar and white-collar jobs. Well, Ventura County is embracing green-collar jobs. With the Governor's Global Climate Summit concluding today in Los Angeles, talk of how to help the economy and the planet at the same time is on everyone's lips. Ventura County is trying to work with neighboring Santa Barbara and San Luis Obispo Counties to create a Green Coast Innovation Zone in an effort to both expand and create "green" jobs. This is a big undertaking, but one well worth the efforts. It depends on the cooperation of businesses, government agencies, schools, military and even non-profit organizations to join forces in fostering a green economy and environment. Thanks in large part to the many universities, military establishments and large agricultural industry, the Ventura County community and the surrounding areas are in a fantastic position to make this a reality.
Creating a sustainable Ventura County is the goal of Compact. Compact is made up of various Ventura County governments and 10 cities, all of which have voluntarily agreed to work towards keeping Ventura County a great place to live.
Ventura County has worked hard in the past to keep a balance between growth and protecting its open spaces and agricultural community. Compact believes the best way to balance the economy, the environment and growth is to find solutions through grassroots efforts. Compact will be hosting meetings throughout the county to ask what issues are important to the people of Ventura County and what solutions they think will work. Some of the questions which will be addressed are present and future economy issues, housing costs, growth issues such as transportation and traffic congestion and environmental issues.
"County residents now have a unique window of opportunity to develop a vision for our future and to put in place a set of policies and standards for building sustainable communities that minimizes our climate footprint, increases our food and energy security, promotes a robust economy, enhances social equity and protects large, contiguous areas of natural habitat, wildlife corridors and working farmland." Ventura County Star
Your opinion is important and desired. Compact has developed an online questionnaire to discover what issues are most important to you. Please take a few moments to participate in creating a sustainable Ventura County. The questionnaire only takes about 10 minutes to complete. You can actively take part in the shaping of Ventura County by attending one of the Compact meetings listed below.
Compact Meeting - September Sept 21, 1:30-4:00pm – Ventura Ventura County Government Center 800 S. Victoria Avenue, Ventura, CA 93009
Sept 21, 6:00-8:30pm – Oxnard (Traductores Español) Pacifica High School 600 East Gonzales Road, Oxnard, CA 93036
Sept 22, 6:00-8:30pm – Santa Paula (Traductores Español) Santa Paula High School 404 North 6th Street, Santa Paula, CA 93060
Sept 26, 9:00-11:30am – Thousand Oaks California Lutheran University 60 West Olsen Road, Thousand Oaks, CA 91360
Sept 28, 6:00-8:30pm – Simi Valley Simi Valley City Hall City Council Chambers 2929 Tapo Canyon Road, Simi Valley, CA 93063
Sept 29, 6:00-8:30pm – Camarillo Camarillo Library 4101 Las Posas Road, Camarillo, CA 93010
Planning for Ventura County "Ventura County is known throughout California and indeed the entire west as a county that has successfully limited the sprawl-type development that has characterized much of our state, in spite of being perched on the edge of a major and rapidly growing metropolitan area. By doing so, it has also protected most of the open space and agricultural lands surrounding its cities. This has been accomplished through a series of policy measures over the last several decades from the Guidelines for Orderly Development in the late 1960s through the SOAR urban-growth boundary initiatives, which were adopted by the county and eight out of 10 cities in the late 1990s. But Ventura County continues to experience the same growing population and housing pressures as the rest of the state. (read more)
It is time for an update on the real estate market in Ventura. I am happy to report that the Ventura real estate market is improving. But before I give you that information, let me tell you what is happening on a national and statewide level.
Nationally, homes sale prices are up by 2 1/2%.
Standard and Poors reports that 14 of the 20 major market areas have seen sale prices increased.
Case-Shiller reports price increases for the first time in three years.
Case-Shiller also reported that, nationally, prices are reversing from the downward trend and that the real estate market has fully turned the corner.
The NATIONAL ASSOCIATION OF REALTORS® (NAR) reports that resale home sales have risen for the past four consecutive months.
The U.S. Department of Commerce reported that new home sales were also up, increasing by the largest percentage in eight years.
Statewide, the California Association of Realtors® reports that the California real estate market has not seen this much activity since December 2000.
Home sales have been on a steady increase since late 2008.
June sales were up by 20.1% over the same period last year.
New home sales were up by 11%.
Ventura County sales and median sales prices are also on an upswing.
The California Association of Realtors® (CAR) report shows the number of resale homes sold in Ventura County is up by 14.8% from a year ago.
CAR also reported that the median sales price increased by 6.8%.
A good indicator of the strength of the real estate market is the average number of days a home is on the market before it sells. Homes in Ventura County with prices under $600,000 are selling on an average in less than 90 days! Homes in the $700,000 - $800,000 range are taking slightly longer. Homes over $800,000 and up to $3,000,000 range are averaging 6 months to over 13 months to sell.
Normally, 90 days on the market would indicate that the Ventura real estate market has moved into to a sellers market. The truth is we are not quite there yet. Foreclosures are still affecting the market. But, sellers are in a much more favorable position than they were just a few months ago. One final caveat regarding days on market. The average days a home is on the market is strongly influenced by location, condition and pricing.
Buyers, time is running out! You need to take advantage of the current market conditions because they will not be there for long.
If you have been waiting for the bottom of the market, it has come and gone; today's affordable pricing is already changing.
The historic low interest rate of 4.75% is gone as well. However, interest rates are still low (5.2%), but for how long is anyone's guess.
The California Home Buyers Tax Credit has already used all of its allocated funds and is no longer available.
The Federal First-Time Home Buyers Tax Credit program will be ending soon (escrow must be closed by November 30, 2009).
The inventory of homes is shrinking. So, the choices you had a few months ago have also passed you by.
Contact us today so we can help you get into the Ventura home of your dreams today!
Fireworks are illegal in most areas of Ventura County. However, several cities in Ventura County will be hosting public firework displays for this year's 4th of July celebrations.
Public Fireworks Shows:
* Camarillo -July 4th Fireworks Spectacular and Fun Day
Camarillo High School's football stadium (4660 Mission Oaks Blvd). Gates open at 4 p.m. Fireworks show begins at 9:00 pm. Admission: $2 per person, children 5 and under are FREE. Pre-sale tickets may be purchased at City Hall, Pleasant Valley Receation and Park District Office and will be sold at the High School on Saturday. Free Parking: Camarillo High School, the Metrolink Station (Ventura Blvd & Lewis Rd) and Semtech (200 Flynn Rd). Shuttle service is available at the Metrolink and Semtech sites beginning at 4 p.m. until appproximately one hour after the show. Admission includes: live entertainment. Food and beverages will be available for purchase. For more details contact the Park District office at 482-1996.
Downtown Fillmore. Hours: 9:00 am - 9:30 pm. Fireworks show begins at 9:00 pm. Admission is FREE. Activities include car show, music, arts, crafts, vendor and food booths. For more details, contact Kathleen McCreary at 524-2546.
Channel Islands Harbor. Hours: 8:00 am - 10:00 pm. Parade: 11:00 am. Parade route begins at the Harbor Landing Center and ends just past the Whale's Tail Restaurant. Fireworks show begins at 9:00 pm. Festivities include: parade, live entertainment, exhibits, children's activities, arts, crafts and food booths.
* City of Ventura - Ventura Independence Day Celebration
Ventura College Athletic Field (4667 Telegraph Road). Gates open at 5:00 pm. Fireworks show begins at 9:00 pm. Admission: $8 for adults, $6 for children, children under 3 are FREE. Family Package is $35. Tickets will be sold at the gates. Pre-sale tickets are also available and are sold at a $2 discount. The Family Package will be discounted $10. Admission includes, games, music, and food booths.
Have a wonderful 4th of July and remember to be safe!
Distressed homeowners in the Ventura County area should definitely contact their lender or a HUD-approved counselor regarding a loan modification. A loan modification can be just the help a homeowner needs to avoid foreclosure. However, there are some things you should know before you accept the a loan modification agreement.
1. Can you afford a loan modification?
* Unfortunately, 55% - 60% of homeowners find themselves re-defaulting within the first year. * You must be very candid with yourself about your financial future and your ability to pay the new loan terms. * Do not let desperation cloud your judgment and you will be financially better off later down the road.
2. A loan balance reduction unlikely.
* Currently, loans which are modified very rarely receive a reduction to the balance owned on the loan.
3. Loan balance is likely to be higher than before the loan modification.
* Unpaid interest, legal fees and related foreclosure costs (for the work already done) can be and are usually added to the principal balance of the loan.
4. Your monthly mortgage payment may be higher than before the loan modification.
* The monthly payment may be increased rather than decreased due to the unpaid interest, legal fees and foreclosure costs of fees added to the loan balance. * The monthly payment may be increased when the lender negotiates terms which allow you to "catch up" on back payments. The back payments are added to the loan balance with the new payment based on the increased loan balance. * ACORN reports in one study that approximately 45% of loan modifications result in the homeowner paying a higher mortgage payment.
5. Most mortgage payment reductions are temporary.
* Most loan modifications allow for a gradual increase in the monthly payment back to the original monthly mortgage payment. * Most loan modifications allow the interest rate to reset within 5 years to whatever the going interest rate is at that time.
6. Most loan modifications will not be lowered to a 2% interest rate.
* The interest rate on most loan modifications are not negotiated below 4.75%. * A reduction in interest rate is based on your ability to pay, your long term financial outlook, as well as your credit score. * A credit score of 740 or higher is needed to receive a substantial interest rate reduction.
7. Loan modifications can affect your financial future.
* The life of the loan could be extended up to 40 years, costing you tens of thousands of dollars in interest. * Your credit report may be affected if the lender chooses to report your mortgage payments as late until all back payments are paid up. * The homeowner may be requested to sign a bankruptcy protection wavier. * The homeowner may be denied a loan modification in the future should another financial crisis emerge.
Please let me state again: if you find yourself in financial difficulties, a loan modification just may be the perfect answer for you. However, before you sign the newly negotiated terms:
* Read them carefully * Consider all your options * Consider your financial future
The City of Oxnard updated its 100-year Flood Maps in March. Here is what you need to know:
* The new flood maps impact 1,761 homes. * All FHA financed homes must carry flood insurance in addition to homeowner insurance. * Homeowners insurance does not protect you in case of a flood.
Portions of the following areas are affected:
* Sierra Linda * South Bank * River Ridge * Windsor North * Most of the homes affected lie in the South Bank and River Ridge neighborhoods
Save money and purchase your flood insurance now:
* Flood insurance costs about $1,700 annually. * Purchasing flood insurance early can save you thousands of dollars.
Homeowners who purchase flood insurance within six months of the final map approval date will only pay about $300 for the first year and about $880 each year thereafter.
The California Association of Realtors® has just announced a FREE Mortgage Protection Program for first-time home buyers. If you have been sitting on the fence wanting to buy a home but are worried about what the future holds, here is some good news for you. First-time home buyers that are buying a home in California may be eligible for mortgage protection against job loss, disability or accidental death. The CARHAF Mortgage Protection Program is being offered by the California Association of Realtors® to first-time home buyers.
CARHAF Mortgage Protection:
* Covers first-time home buyer's mortgage payment during their first year of ownership. * Covers first-time home buyers in case of loss of employment * Covers first-time home buyers in case of disability * Covers first-time home buyers in case of accidental death * Will pay up to six months of the first-time buyer's mortgage payment
CARHAF Morgage Protection Qualifications:
* Must be a first-time buyer (buyer who has not owned a home for three years or more) * Must purchase a home in California * Must use a California Realtor® to represent them in the purchase of the home * Must open escrow after April 2, 2009 * Must close escrow no later than December 31,2009 * Must be a W-2 employee (self-employed buyers do not qualify)
Don't sit on the fence if you want to take advantage of the Mortgage Protection Program. It is a limited-time offer! The program will end on December 31, 2009. Loan processing time has increased due to loan scrutiny of underwriters. Further documentation may be required throughout the process all the way up to funding of the loan. This can cause a delay in your escrow closing. Remember, escrow must close on or before December 31, 2009; the reason for a delay in closing will not matter.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
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