Archive for January, 2016

SNAPSHOT OF HOUSING ECONOMY
January 31, 2016

Much has been written about the housing market of the last decade, but many still have trouble understanding where we are now as opposed to then.  This is just a microcosm look at one home model built in the Wildwood area of Thousand Oaks, California.house_money_pile_shutterstock_83573653

The tract is Wildflower built between the years 1976 and 1979.  The model, a two-story, four-bedroom, three-bath home of 2,150 square feet, is called Plan 400 or Wild Rose.  This model made up about 30% of the tract which was comprised of four models and has proved very popular with a downstairs bedroom and full bath plus an indoor laundry.  Highs and lows reflect differences in locations within the tract and the degree of improvements made to individual homes.  Since this snapshot is dealing with one model, the median and average prices are very close.  The market still needs to increase over 10% to reach 2005 levels.

Chart2015

Year Low Medium Average High # of
Sales
2003    465,000    514,000   505,600    525,000 5
2004    615,000    672,500   707,167    835,000 6
2005    750,000    760,000   765,360    789,900 5
2006    725,000    746,000   746,750    770,000 4
2007    612,000    690,000   690,167    750,000 6
2008    505,000    587,000   568,400    635,000 5
2009    569,000    597,000   588,667    600,000 3
2010    600,000    602,500   602,500    605,000 2
2011    550,000    590,000   618,333    715,000 3
2012    515,000    535,000   535,000    555,000 2
2013    620,000    629,000   638,250    675,000 5
2014    612,000    616,000   616,000    620,000 2
2015    620,000    679,250   687,125    770,000 4

IMPORTANT VETERAN BENEFIT
January 1, 2016

Veterans-Day-Clip-Art-Images-Free-2A word to our local veterans.  The home loan guaranty program was originally conceived in 1944 as a part of an attack on the harsh aftermath associated with wars. Its overall objective was to diminish to the greatest possible extent the economic and sociological problems of post war readjustments of millions of men and women who served in the Armed Forces.

 Program Features Include:

  • 100% Financing available
  • NO monthly mortgage insurance
  • Limit on costs that the Veteran is allowed to pay
  • Seller can pay up to 4% or closing costs
  • 15 or 30 Year, Fixed-Rate loan periods
  • Purchase or Refinance transactions available

If you would like to speak to a Mortgage Consultant to discuss how the program can help you, please feel free to call us at (805) 217-1960 for a reference. (All readers: please pass this message on to the veterans you know with our gratitude for there service.)

Rich & Jan McMillen

www.TOHomes.com0d82e415b9bc0baddc75c95f5c1d7e8c