•  Local Market Update

• Dan and Patty offer 68 years combined local Real Estate Experience!
  
   

  NEW YEAR MARKET COMMENTS
  Last year, bank sales and short sales dominated the market and pushed prices lower. Seabridge, which sold at the peak of the market, had the highest number of distressed sales in the Channel Islands Marina market. Hopefully, we are past the majority of these problem properties.

  With low interest rates and low prices, it is an excellent market for Buyers. We expect the market to improve this year as the economy slowly recovers. Loan qualification remains very tight, which will continue to be a restraining force in our market, especially effecting second home buyers. As an interesting change, some buyers have picked up bank sales, fixed them up and are putting them right back on the market instead of holding the properties.

  On a bright side, Scott-McInnes Realtors’ listing at 4215 Romany, a main channel corner home, just went into escrow at the beginning of January. The home was listed at $1.895 and is a great sale for the market.

  #There have been about 30 sales of Channel Islands Marina waterfront homes for each of the past three years. Marina prices had held fairly well until last year, when the distressed sales had a significant effect on pricing.
  # Oxnard beach sales volume increased from 2008, with more low end sales. Distressed oceanfront homes continue to be a factor in the beach market. Mandalay/Oxnard Shores finally showed an increase in sales volume.
  #The Ventura beach and marina sales volume has been rather consistent, but prices declined as elsewhere.
   #Condo sales volume in Oxnard-Port Hueneme increased substantially in 2009 but, again, with lower prices. The Colony had the highest condo sale in 2009, with a Vina del Mar large end unit townhome closing at $750,000.
  Dan & Patty McInnes offer more than 33 years experience as Oxnard/Ventura marina and beach specialists.

Dan & Patty mark 35 and 33 years as Realtors & Marina/Beach Specialists!
Dan McInnes earned his real estate license in 1975 and his Broker’s license in 1979, and Patty earned her license in 1977 and also earned her Broker’s license in 1979. They have been top producers throughout their 30+year careers. This year also marks the 24^th anniversary for their company, Scott-McInnes Realtors. They have seen the local real estate markets go up, down and sideways, but also these 30 years have brought outstanding development of our local beach and marina areas and increased property values over the long term. For the most experienced team, call Dan & Patty!