Friends,
After watching this video, you will want to take a very, very cautious approach to buying a home in today's market. Yes, I am a Camarillo real estate agent. Yes, I make a living off helping people buy and sell Camarillo homes. Yes, I want you to think of me when you think of real estate. However, I want to help you stay informed in order to make a prudent and timely decision. I feel this is a major part of my responsibility to you, a valued future client.
I am not so sure the timing is right just yet to purchase a home in Camarillo. What if properties decline in value another 20-25%? Would you be comfortable with your purchase today at 5-10% off market value?
This "insider" video runs for about an hour. So, grab a glass of your favorite wine and be prepared for some "expert" opinions on the housing economy: http://www.wellcomemat.com/video/0DC1587DB7
As I have been saying all along, this correction period is nothing more than a balancing of the scales between household incomes and local home prices. Unfortunately, a lot of uninformed homebuyers were swept up into the homebuying frenzy with inappropriate and irresponsible lending standards. They are now paying the price, along with their lenders. News came out recently that BofA will be buying Countrywide to keep it from going under... If you should decide to wait even longer to buy a home after watching this video, I just want you to know in advance that I will respect your decision. Otherwise, I am prepared to assist you in meeting the challenge(s) of being a buyer in an uncertain local real estate market full of equity-rich sellers in (as the video states) Stage One of denial. I do not control the Ventura County, CA real estate market. I can only assist in interpreting the data to benefit you, my valued client. As my website shows, the median home price in Camarillo is declining 1% every month, on average. That figure equates to $5,000 per month in declining values. I feel strongly the trend will continue. For how long, we do not know. We've seen the ceiling (in prices) -- we do not when we will see the floor. Enjoy the video - Stay informed!
Sincerely and without regrets,
~ Barry Shapiro
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