Camarillo's Montelena 1 Tract
There are many wonderful neighborhoods in Camarillo, but one of the nicer mid-priced tracts is Montelena 1. Built 1990 through 1995, these are very comfortable Mission Oaks homes, with a number of view locations. They are 3 and 4 bedroom homes with 2.5 to 3.5 bathrooms which range from about 1800 sq ft to almost 2800 sq ft. Lots range in size from about 6,000 sq ft to over 9,500 sq ft. The homes are all uniform stucco with red tile roofs, built with many luxury amenities, nicely landscaped and with no HOA!
The homes in Montelena 1 are located in the Mission Oaks area with a hilltop view overlooking the Calleguas Creek. Flynn and Lewis Roads are part of the expansive view to the North and West with mountain and partial ocean views on the horizon. This is a fairly quiet neighborhood with limited access to the busier streets of Creekside Drive and Mission Oaks Boulevard.
The neighborhood itself resembles a flattened loop with 3 streets and a cul-de-sac. Via Pacheco and Paseo Montelena have some amazing view locations, while Via Cupertino runs a block behind the cliffside homes. Chula Vista Court is a small cul-de-sac off of Paseo Montelena with a quiet, friendly feel.
Most of the homes I've seen have generous back yards that often sport large patio decks (especially the cliffside homes) or very private, lushly landscaped gardens. More than a few of these homes have gorgeous inground pools, built-in barbeques and decorator deck furniture.
Most of the kitchens I have seen are expensively upgraded with granite countertops and stainless appliances. They usually face the backyard and often have part of the valley view. Living rooms and family rooms enjoy vaulted ceilings and at least one fireplace. The master bedrooms are usually downstairs with backyard views or patio access. Huge master baths sport upgrades that may include double marble vanities, separate tub and tile shower enclosures, designer light fixtures and cabinetry.
There are usually 2 to 3 upstairs bedrooms which are quite a bit smaller than the downstairs master and a bit tight in my opinion for a home in this price range. That would be my main criticism of these homes. If Mom and Dad are using the downstairs master and the kids are upstairs, it's okay. However, if grandma is living here or one of the kids have moved back in, the upstairs bedrooms are small.
Most homes have a downstairs hallway half bath that opens to the living room and the laundry is usually downstairs as well. Inside access to the two car garage is internal also, and a very few homes even have a 3 car garage. If you are retired or the kids are away at college, you essentially have a single story home with upstairs office and guest room. Pretty darn comfortable and often with the perfect backyard view for a couple to enjoy at sunset with an ice cold beverage or maybe a little barbeque with friends.
Eleven homes have come to market in the last year.
Two properties expired last summer after 6 month listings when they didn't sell at $715,500 and $719,500 respectively.
Five homes have sold for an average of $635,000 with the highest sale price at $687,000 for a 2,400 sq ft home and the lowest sold at $600,000 for a 1,800 sq ft home.
There are four homes actively being marketed in this tract for an average listing price of just over $623,000. The lowest priced home is listed at $539,000 and 1,800 sq ft (it's a short sale), while the highest priced home is listed at $690,000 for 1,800 sq ft and priced at $690,000 though it does have a nice view.
There is one home currently listed for $679,900 with 2,767 sq ft and a large backyard in ground pool that looks very tempting.
By my calculations only one of these eleven homes was a distressed sale, meaning only one home was a short sale or foreclosure. That makes this tract a very stable investment for any home buyer. Just the same, values appear to have eroded about $1,000 to $1,500 a month over the last year. This compares to over $4,000 a month in some Oxnard neighborhoods with even larger, newer homes. (see my blog on Victoria Estates).
Four or five years ago, these homes were selling for the high $600,000's to low $700,000 range, so they really have not come down as much as I would have expected. These homes are very comfortable, built in a premium location, and are a very solid investment for those with the means to take advantage of our current market.
Warmest Regards,
Mark Thorngren
Ventura County Market Insights Video Report
Ventura County Real Estate
mark@markthorngren.com
(805) 504-0228
