Ventura County

mvgrl_IHB

New member
Having just read the analysis on the main blog as well as several comments on Calculated Risk, I would like to seek your opinion on investing in the outlying regions of Los Angeles, mainly Ventura County - Simi Valley, Thousand Oaks, Moorpark. What is your overall impression of the area. Are there any good investment opportunities in that area? What are the job prospects and school system like?
 
It's boring as all hell and my team members who live up there can't wait to get out. My understanding is that it's okay for a family, but not so great if you are young and trying to meet someone to have that family with. I venture up that way for business rather frequently, and if it weren't for the gym I'd be miserable. There's only so much shopping one can handle at the Camarillo outlet mall.



And I do think they overbuilt the entire area and it has plenty of room to drop in price.
 
[quote author="caycifish" date=1239624619]It's boring as all hell and my team members who live up there can't wait to get out. My understanding is that it's okay for a family, but not so great if you are young and trying to meet someone to have that family with. I venture up that way for business rather frequently, and if it weren't for the gym I'd be miserable. There's only so much shopping one can handle at the Camarillo outlet mall.



And I do think they overbuilt the entire area and it has plenty of room to drop in price.</blockquote>


She is dead on here. I lived in Agoura Hills for two years in my earlier 20's and couldn't wait to move. Now that I'm older, Camarillo wouldn't be a bad place to live and Ventura is quite charming. Simi is a big Mormon community, fwiw. When I lived out there TO was always ranked as the super safe city in America. Simi was very middle class, more blue collar than TO, but there were a few newer communities that were considered nicer down at the south side. I imagine it's been built out beyond recognition to me. BTW, what do you get when you spell Moorpark backwards?
 
[quote author="graphrix" date=1242312584]Foreclosure Radar for 93003:



http://i41.tinypic.com/33w1mcz.jpg



93001 (There are a couple more at the top of the 33, but I wouldn't think anyone would want to live in BFE):



http://i39.tinypic.com/wbywb5.jpg</blockquote>


Please excuse my ignorance, but can you detail what the letters and colors of each bubble represent?



As for the area.....I grew up in Agoura (went to AHS in the mid-80's). Hung out in the surrounding areas (Westlake, TO, NP), and really liked it. Had no problem meeting someone (met my wife in TO, been married nearly 20 years). We now live in Ventura, and are looking to buy a place.



Schools in Agoura, Westlake, TO, NP are all very good. Camarillo is ranked well, too. I wouldn't put my worst enemies kids in an Oxnard or Port Hueneme school - period.



It's all a matter of perspective.
 
Red B= bank owned

Green P= pre-foreclosure (at least 90 days behind, but not scheduled for auction yet)

Blue A= auction (scheduled to go to the courthouse steps)
 
[quote author="Adam Ginsberg" date=1242340301]



Schools in Agoura, Westlake, TO, NP are all very good. Camarillo is ranked well, too. I wouldn't put my worst enemies kids in an Oxnard or Port Hueneme school - period.

</blockquote>


Amen to that. Camarillo has very nice houses and has plenty of things to recommend it. However, having a corporate apartment in Port Hueneme for a few years and living there part-time is why I have Lowjack on my car.
 
We lived in Agoura for a couple years. Just on the Ventura county side in Oak Park.

Its too far away from everything if your younger. The schools were not bad but I could not wait to getback behind the Orange Curtain. At that time I worked in Camarillo. The only thing I do miss is that Outlet Mall. It was great for a lunch break and shopping. In a way Ventura County is still very rural and still has its agricultural business as a focus.



We tried it. But personally I regret that moving decision in hindsight.
 
[quote author="bltserv" date=1242346222] In a way Ventura County is still very rural and still has its agricultural business as a focus.



We tried it. But personally I regret that moving decision in hindsight.</blockquote>


Speaking from my experience, that regret you feel from moving from a rural/ag town to a urban town is a knife that cuts both ways, and as you get older, it becomes increasingly sharp.



All I can think about here is how much I miss home, and all I can think about back home is how bad it sucks compared to here. Ventura county is a little different because you still have all the SoCal trappings. Try moving to Fresno and browsing the wine section at the local grocery store.
 
From a Ventura RE Agency:



[quote author="VC RE Agency" date=1244183654]Attached are five graphs illustrating current housing inventory levels for Ventura, Camarillo and Oxnard. This includes MLS Area numbers 21 through 45.



We have seen fifteen months of continuous drops in inventory and the inventory turn (months coverage) has reached 3.0 months on a consolidated basis. This is most significant.



Without a renewed dumping of large numbers of distressed properties onto the market during the coming weeks, prices should start to stabilize in the near future. This assumes, of course, that present demand for housing remains strong.

</blockquote>


Along with these graphs:



<img src="http://www.shrackracing.com/hosting/vc-re/1.jpg" alt="" />

<img src="http://www.shrackracing.com/hosting/vc-re/2.jpg" alt="" />

<img src="http://www.shrackracing.com/hosting/vc-re/3.jpg" alt="" />

<img src="http://www.shrackracing.com/hosting/vc-re/4.jpg" alt="" />

<img src="http://www.shrackracing.com/hosting/vc-re/5.jpg" alt="" />
 
Thanks for the update, zovall.



The market has been strange here over the past few months. Homes in our price range ($500k and under) that are in very good/move in condition get MO's, and are regularly bid up (eh...yeah, like I'm going to get into a bidding war...f'that). Inventory is a low of ~3 months, if nothing else comes onto the market.



Over $500k, say, $600k and above, has a 1.2 year supply, and is moving very slow, regardless of condition and location, even the coveted beach area. Upper end prices have dropped rather dramatically....but that doesn't mean a home that sold ~3 years ago for $2M is now down to $400k. Wish it was true. ;)



Interestingly enough, there are several very nice, move-in condition homes, in damn good locations that have been sitting. Their prices are high (based on what I've seen, about ~$60-$70k too high), and people realize it.



We're simply in a holding pattern - we <strong>really</strong> love where we live (~1 block from the beach, have great neighbors, great landlord), are paying down what little debt we have (just paid off the wife's car, down to a single car payment now), watching the market(s) closely, and keeping money in the bank. Our REA knows exactly how I feel, as I've made it abundantly clear to him - damn near ALL REA's are full of shit, and the "bottom" is not in when we still have double digit unemployment, and continuing RE/bank/stock market problems.
 
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