ADVERTISING SECTIO

STAR HOMES

VENTURA COUNTY SHOWCASE

Investors, distressed sales less common in county market

BY WENDY DAGER
SPECIAL TO STAR HOMES

STAR HOMES | VCSTAR.COM/HOMES

| Sunday, April 24, 2016 |

When the housing bubble burst in 2008 and

many properties went into foreclosure, real
estate investors sprung into action within four
years, purchasing homes for cash, either to
flip or use for rental income.
This trend has since declined due to the
markets current inventory shortage, as well as
the fact that many homes are selling for listing
price or even higher, particularly when there is
a bidding war between multiple buyers. There
are also fewer distressed properties short
sales, bank foreclosures or at auctions than
there were in the years following the 2008
crisis.
According to a recent California Association
of Realtors (C.A.R.) survey of its members, investors are purchasing more niche properties,
such as commercial, land and mobile homes
rather than single-family dwellings.
Also revealed in the survey are that fewer
California investors are renting out their properties, 26 percent of investors are flipping their
properties, and 12 percent are leaving them
vacant to use as vacation homes or for other
reasons. Only 55 percent of California investors
paid cash for properties so far in 2016, compared to last years 66 percent.
According to Daren Blomquist, RealtyTracs
senior vice president of communications, this
data corresponds with the national trend. RealtyTrac, which provides real estate data about
homes across the U.S., showed that 44 percent
of all home sales, including single-family and
condominiums, were distressed sales at the
peak of the housing crisis in the first quarter of
2009.
Now, as of the first quarter of this year,
its down to 18.2 percent nationwide, said
Blomquist. Its still elevated because we
have this long tail of distressed sales, but its
definitely trending downward and theres less
opportunity for investors to buy properties at a
discount.
In Ventura County, distressed sales are even
lower at 13 percent, so if investors are looking
into other housing markets, the highest percentage of distressed sales are in metro areas
such as Chicago; Flint, Michigan; Baltimore; and
6 Tallahassee and Jacksonville, Florida.

MARC & TIFFANY ANGELES/TNS

Derek Fishers traditional-style home in gated Hidden Hills sits on more than an acre with a swimming pool and spa, a detached guesthouse and a two-stall horse barn.

For home sellers, cash is still generally king in

terms of accepting offers, but the percentage of
cash buyers was down from 40 percent in 2012
to 32 percent nationwide this year. In Ventura
County, cash buyers comprised only 20 percent
of sales.
The cash buyers are also backing out
because they were trying to get in near the bot-

tom of the market and buy some great deals

and many of them have pulled back because
prices have jumped pretty fast, said Blomquist.
We see the mix shifting back toward first-time
homebuyers nationwide.
FHA loans have become appealing to firsttime homebuyers, with this type of loan used
for 15 percent of all sales the first quarter of this

year. The problem, however, is that higherpriced markets that are less affordable where
home price growth has outpaced wage growth
there are likely going to be fewer FHA buyers.
Ideally, if a homebuyer has cash, or at least a
substantial down payment, there is a better chance of purchasing a home in Ventura
County in current market conditions.

ADVERTISING SECTION

  
   

 



   


 



 


 

      

$#  $ "  "% #&&

! ' +"'' !'*'-  ! '*! !!'- ,' ',
*""   ' " " ! !' ! !" '  
" '- ! "'  !+
' *"" *"'
 *! "
''! !' *" )  " (
 !"  
'

*" )( " ', + *' ' '  " (
 !"   
'"
!+, - ,'  !  ""#  * *"    !  !  "  "
!!'-  " ' ' !  " *"' "

$&&&




  % $(($(


  ($ 

   


8 !#1- + !68- "8 1%' '+%+18 #  #%6 61 - "'%+1#1 1% 1"*
1+ 8%4 + 48# %+ -!!#  %"  5 1 "+ 1 #%6!
4-#-- -558 1%# # !! 1 + 1 1 - 1% !' 8%4 "  1 "%-1
% 8%4+ ! -11 %''%+14#18*  " %""11 1% '+%5# %+!!--+5 1+%4 1 #1+ 1+#-1%# # 8%#

(#$($(

118 %-
'
!-
--%1  9&$9
(9) 9323 (%!)
(9) 2323.9 ()
#118-+"7*#1
666*+!-118#118*%"

" 
& '

 

 /
,  - #'##1!8 %6# # %'+1*


 



!!
 

  8%4+ -1 -1' 1%  11+ !-18!  !!  %8


 

/
 %! %-1

&&&
1%+
5
7#+ 
$292

 %
 $  !
!% 


 # 
 
   

 


 !! 


  #
  " %!




%

 +/"
 %))
+// !
| Sunday, April 24, 2016 |

2++
!/+
^+

$
E >

  

 

 .*'&&
.*'&&
 %%#
 %%#  

 

  .&'+!


 

 
.&'+!
%# 

$
$%#


$! +  *$$!+ ' /+ 5-5 )/'

1'( *+ 0 * * /2""" $/$"

+/ / %1555

$! +  *$$!+ 1 /+ %0,1 )/'

+  *$$!+
/+

+/ $!
2&  $"
$$/ " 1 */
%0,1 )/'
+/
$" $$/
"$*$$
"$"2& )2/
+/*/' " 
*/ "$*$$ " $"  )2/ +/*/'

+/ / 5555

    

! 

  "

   

0@ /, *(2 E

 0@'?


@4@ 9, C >A,,(,%
,A">A9 /+
9):&(9 >&CE

9*, 9*>>(
/,, *:/, G#3$;-3$ -G

?<- &A,% 9(B

 0'$
 

/**EC// E >& : (*B9
>9, & $4$
=
 /* /:>
9 B,:
G#3??-3?#G@

0;<< ,*E
B

A,3 0'$2+



#4@ 0 >/9E B9 0;GG :5">3
/+2*> +/*
,>A9E @0 (**>/2
/, A%&9>E G#3?;;3G$;?

-@$ (B(, (93

 0'$



$  4 $ 
@; G 3
9//2 * :>>
&99E (*C/9>&
G#3@?03 G;

-<0 3 (%&*, 93

 0'$



?4@ C= 2>A*9 B(C:!
=
 /* /:>
&A9&(**  *,(
G#3$<-3--G@

$-?; 9*(, E

 0'$



+9)* $4?3# &/+3
,
,>9>(,98: *(%&>3
/*C** ,)9

"" ,>(B9/: G#3;<#3#@#$

@@-G 9/+"(*
 0'$


#  4 ? 
@$- 3
9//2 * :>>

*D ,*
G#3#@@3<;

  
0G0G /9>
A%
 0'$
$4? /*" (** C
9):&(9 >
9E  (: 
G#3?@G3$$;@
0;< (
9
A,3 0'$2+
#4$3# +/
(**: 2//* &/+
 D /* 

/,, 9/*

   








$ 

   



%

?$#


A,3 0'$2+
$4? /9+> )
C,9:&(2!
/9 * E 
/, ) G#


  5 36/! 
 0     

  '&4$* 93 #1*&4 ,7*412  1&$ 9,,
&*41: .(*44&,* 2$74412 (,8(: ':1 93 &1 .&4  )*:
17&4 412 *1 .1' .(:#1,7* )1&* * 2$,..&*#/



 




  
  
 

 


 

@;0< ( * /

 0'$
#4? //* /+
  
   ##      

  

9):&(9 >

A*( ,A>:/,
G#3?;;3000;

&!"& !"##"

  
   %    

&#$&$$%$

    .8- (9&(* *,( &**2,&( ;#6!

??3 *(93 2**' #( (2&= 8??3 3#( & &:&
*:&=
:#363 :9&6 #&#( 3 9, 2 %#6!( ( 6!3
(62&
5 +57 2 &6 &*6



  

G- /B9 ,
 0'$



#4?
@$G? 53>3
,/:> * :>>
99(*E,, 2A>/
#3$<-3 @##

&!$&!

  
   $$#   

 


$$  
    




/B9 ,
 0'$



/>: "9/+ :,! @@GG 5>
,/:> * :>>
99(*E,, 2A>/
#3$<-3 @##
0#
,&/9: E .0#?
 0'$


@ /+ : >&(: %+ C(>&
, F:!
9):&(9 >&CE
*, 9*>>( G#3$;-3$ -G

#$

  
    %  
 

  
 
  /

2  &#:#( 2**' ( #2,& 96#9& 2#%"369 22 =2*2'& #(#( 2**' (; %#6!( ( '#&= 2**'


  

&!$&!&%

  
   "#%  
  

 

 -++;;;/ 
 
    /

   
   
   
    
  
  "
 

# 
 
$ 
  

   
 

 !
 
  
 



!

 
 


 $  !



  

&!& !&&&

  
 $    !


  

  


     

 &  +(+ %.&('. %&  &  &( &(
*// &#! (!  , &  -( ") -'(  )  %  % !
+& (    %   -(
 %- %&
&  % % ( -(    (& %  &(  %  &
(   &  &  & %
( +(% ( &!  %  &(% % -( * -  &(& ( %& 


 &(%  (%  % ( +(% ( &! % ( % -(  
$
!



! 

&!&!"#

  
 $    $ 
     

  



$


%$.$

  

    


   
/ !#3 3,#*93 43/-6- . !*' ;#6!  #236
&**2 (39#6 2**' '%3 6! ,26 &**2 ,&(- !2 #3 ( (626#(213
% =2 ;#6! ,**& 3, #2 ,#6 ( 369((#( '*9(6#( :#;3-
2  6"#( %#6!(
*2'& #(#( 2**' &#:- 2**' ( '#&= 2**' ,2*:# 2**' 6* 2*' ( &*; 3#&=
#(6* 6! 3,69&2 *96**2 3,

 
 

&!%$#! #%

  
  "   
   

 


  
 
 

    
%%


#( 6! <&93#: (&: * ! *;3 6 *26! (!
'(#6#3 #(&9 (
,,2*<- 7?  6! 369#* #3&( %#6!( ;#6! 936*' #(62= 2(#6
*9(62 6*,3 ( ;&%"#( ,(62=- ,#*93 '362 ;#6! :9&6 #&#( 3 ;&%"#( &*36 (
'362 6! ;#6! 3,26 :(#6#3 3, 69 ( &2  3!*;2- *' 3
  


    


 !$ !#&#

 
   

     



   

   
   

 
 #66#( *( ( ,,2*<- 8???4 ,2#:6 &*6 6!#3 029 936*'11
*363  2 7  ( ,,2*<- 7+?? * &#:#( 3,- <62#*2 '(#6#3 #(&9  2"
36(#( ,2 *& #(" 2*9( 3, &2  233= 2 ( 96#9& &*;23 && %#( 6* 
&*;#( =2 2*9( 2% ;#6! '$36# *% 623



    


 !$ !#&#

 
            



%$)


%$




 
 

      

   

  
   ,6 2*' 6*, 6* *66*' ;5;*(29& 6#&3 6 :2= 692(
2  ;#(*;3 &&*; 6! :#; 6* *' ,26 * 6! !*'- *92'6 %#6!( ;#6! #3&(
36#(&33 36& !2'*2 ,,&#(3- ,#2& 36#23 &3 *;(36#23 6* 8 2**'3  '*2
&#:#( 3,- 7  8 6! ;#6! 874) 3 * &#:#( 3,- ;;;-)4+# !&(-*'


 
 3
 
 

*:&= + 36*2= ;#6! (626#(213 =2- #6!(
 6!3 !: ( (#&= 9,6- &#2 **23 *,( 6*  26 (&*3 ,6#* 2**'- !
% =2 3!*;33  &2  36', *(26 ,6#* % 3922*9(#(  3,2%&#( 3&6 ;62
,**&53, ,&93  ;62 3&# *2  9( <,(3#: 6 


   



  

&#&%


#

&!%!%&&

@ **E 29(,% 93

 0@'$



? 29C*(,%
(>99,, (,%* >/9E
*  /*)9:
, &(+2
0 3?0$3 <G<

$;G C B, >3

 ?'#
 

? C= *9% E9!
9):&(9 >&CE
, +/C:)(
#3?@G30@G<




 


;-
*99) *
 0@'$



(>(/,* &9+ , /"
'3
*  /*)9:
, &(+2
0 3?0$3 <G<

:>9(% 93
 0'$



? A>:>,(,% 9+/*3
*(B*! A:> !
9):&(9 >&CE
) (*:/,
G#3;?03 #0$


%


    936*' 36&% 3&(

!*' ;#6! &33# 96=- 2 . 7-6!3- !13 %#6!( ;5
(62 #3&(- 2#:6 *% ( 369((#( ;622*(6 :#;
'>#( ,2#


 
0? ? /A>&C(, (9*
 0'$



,>:>( /22/9>A,(>E!
4?3#
/, >& *)
9):&(9 >&CE
9E *)/"" G#3<?G3??@?




   

   


%



! ! !%

%% )'! %'! '%) %!
!!"%%( %) ! 
* &#*&&#


.$)%$

0-<G (9 93

 0@'@


$4?
+F(,% +/A,>, B(C:!
9):&(9 >&CE
**E, +/C:)(
G#3?@G30@G<


  "5;;0   
  
  

 
 
/  2**'3  6!3   936*' #2,&3- #6!(
!3 936*' #&#( &# !6#(  &2  #3&(  #%#( 2( - 9  '362 2626 ;#6!
*(:236#*( ,#6 3#66#( 2**' ,&93 <6(3#: &*36 3,
3 3*&2 ,(&3 3: *(
(2 = #&&3- 8 ;62 !623 


  

&!%!%&&

 




& #/2) $2#/5 /)

  %,,6+ 2#5 ))*

  
-# ** /:
(>A,/:
A,E 0'$2+



$4? 2>A*9 9,) */E
9(%&> (,:2(9 +:>92(
*>E , 9/A2

,>&/,E (+/ G#3?;;30;@<

<0?G 9(>% 93

 0'$



#4# A/9 :>E* &/+
9):&(9 >&CE
99( /%,/C(F
G#3@?<30<@$

 
 
 


      

   
           

    
@;$?G 9>/C, ,
 0'$


$4$ ++A*>  E
"/9 /A!
9):&(9 >&CE
&99( C,E G#3$G@3<0?#

#

0 9+/: >3
,3 @'$2+
? 9> //*!
(( /*""
#3;G030;-

 


STAR HOMES | VCSTAR.COM/HOMES

"


"

0-% $ 2+
3 "/2* #055

0-% $ 2+
3 "/2* #055

#
  
 %
! ((( #$
$#' 

%' $
' &
 '$
#   #$
$#'
' &' 
  #
# #
" 
 % %#

#
 "



#$
$ #

 *
(
#(
$(



$

#'


%-, 
%6
%%0
0
&#

2)/)
#
 #'
16
%$
%0
! 
00 #'
1
#
6
& 
2!! 
,0
 # 6
# 

,

# $#
#    ##
"%"
% "
) 3)5
&

 2#5
#
  %
   ) #*5 &"

$#

#
$'
  

 )5 1&"

 




"

*$4
+

"   3)5 2#5

/) $"* )* $3) %,666 #/2) $2#/5 ))* 3)5

2#5' $4* 5$2) !#/(* $" # #/2) $2#/5(* $#!5
4 !5 )! *// */$# /) $"*' /2)# / "2*/)
&# $2* )/$)5 #
#/ )/$)5 4/ 2!!$!$) &$/$*
 4 $"* )/$)5 !*/#* $ )#/ $" *!* # /
2!/"/ $"* $ */#/$# *$4* /) $"* !3)*
)*2!/* $) $/ 25)* # *!!)*'

 



  ,) %))%

$ "$)-

"% %")  "" ' 

 
 


%%5# ""$ *  4 #0511