Matt Cooper Ventura County Real Estate

It's funny how the turning of a calendar page can make a world of difference in our lives. Somehow, it brings with it a fresh start, full of resolutions and goals. New plans to change your life. In my life as a REALTOR, 2007 ruined me financially. It caused stress in my marriage, stress in my stomach in the form of physical illness, and stress in my head. In fact, on new years eve, my wife and I just sat on the couch, struggling to stay awake until midnight, flipping channels from one ball dropping ceremony to the next, completely numb to any excitement coming from our celebrating neighbors. We were so mentally exhausted, we could barely muster a smile as 2007 ticked into history.

Oh, how life has changed just 3 weeks into 2008. It's not over-exaggerating to say that I've been busier with clients over the last two weeks than all of last November and December, combined. New clients from sitting floor time in the office on a Saturday. New clients from my web site. New clients from signs in front of homes for sale. And, the most satisfying of the bunch, repeat and referral business from past clients. Could it be that all those buyers out there are starting to climb down off the fence? It depends on who you ask. As the fine print reads at the bottom of a weight loss commercial, "Results not typical" or "Results may vary."

What I do know, is that in my world, things are picking up. I was showing a client homes in Camarillo on Sunday afternoon (after a depressing Chargers loss to the Patriots) and we repeatedly ran into buyers out looking at the same homes. I previewed a home for my list of investors in the hill above Ventura college this past Saturday (which is a great fixer/buy) and ran into buyers when I got there and as I was leaving. Through conversations with some of these buyers, without prompting by myself or any other REALTOR, three different individuals said it was a great time to buy. Again, that doesn't come from the mouth of any REALTOR, that's straight from the home buyers on the street.

Personally, I think it has a lot to do with how you view the real estate market. I choose to view it with excitment and a positive attitude. I'm excited because for all of the buyers out there, we're seeing some really great buys. Not to mention interest rates continue to be incredible. If you would like to investigate the interest rates on your own and not just take my word for it, I suggest you call my friends Brad or Diego (or both) at WaMu for more information. Or, if you'd like a third and fourth opinion, call my friends Karly or Filiberto at Countrywide to verify (I'll post their info below).

I hope your version of 2008 is just as positive and exciting. You can always call or email with any questions. You'll always receive a fast response. Now, I have to get back to work...I'm actually busy. That, and I have to get back to my new years resolution which is to GAIN weight. I've failed for the past 36 years at that one. I'm better at Real Estate.

Matt Cooper
CENTURY 21 Buena Vista
805-407-4671
matt@mattcoopersells.com
http://www.mattcoopersells.com/

For more info on todays great interest rates or financing questions in general, call any of the following friendly people.

Diego Germann - WaMu 805-390-3358
diego.germann@wamu.net
Brad Cottrell - WaMu 805-551-5555
bradley.cottrell@wamu.net

Filiberto "Fili" Rosalez - Countrywide 805-383-4246
filiberto_rosalez@countrywide.com
Karly Rutschman - Countrywide 805-383-4248
karly_rutschman@countrywide.com

Every day I spend time in the exciting, yet somewhat depressing world of Foreclosure Real Estate. It excites me because I see deals for buyers and investors. Not just average deals, GREAT deals. I'm blogging about Oxnard, but while I'm on the subject of foreclosures and the state of the real estate market, I can't emphasize enough how Sellers have been ruling the market for the past few years. Virtually imposing their will and their top-dollar prices upon all who dared to buy their homes for sale. Now, though, the tables have turned. Oh, how things have changed, but it's only a good change if buyer's take advantage of it. Buyer's, the ball is in your court.

Now, on to Oxnard. If you're an average seller in Oxnard, and when I say ‘average seller' I'm talking about someone who's trying to conduct a normal market sale, you're in a really tough spot. As of today, 12/15/2007, there are 1,530 properties for sale in Oxnard/Port Hueneme. A whopping 45% of those listings are what we call ‘distressed sales.' These are properties that have been foreclosed upon or are heading towards foreclosure. Those two types of properties are known as Short Sales or REO's. REO is the fancy acronym for Real Estate Owned. It's kind of stupid as every piece of real estate is owned by someone, but apparently when the bank takes the property back it's REALLY owned. These REO's are foreclosures, corporate owned, bank owned, lender owned, etc. To think that 45% of the inventory in Oxnard/Port Hueneme is either heading for foreclosure or has been foreclosed upon is mind boggling. Let me break down the numbers for you. FYI, SFR stands for Single Family Residence or Detached Residences.

Oxnard Properties for Sale (SFR + Condo) = 1,530

SFR = 1,107
Condo = 423

SFR REO = 214
Condo REO = 85

SFR Short Sale = 288
Condo Short Sale = 103

45% of Oxnard Inventory is some form of a Distressed Sale (either Short Sale or REO).
20% of Oxnard Inventory is REO.
26% of Oxnard Inventory is Short Sale.

26% of Oxnard SFR's is Short Sale.
19% of Oxnard SFR's is REO.

24% of Oxnard Condo's are Short Sale.
20% of Oxnard Condo's are REO.

Oxnard is in distress, to say the least.