Beautiful Newer Home In Moorpark

Desirable Waverly Place townhome in the Moorpark Highlands! This beautiful home was built in 2008 and features granite in the kitchen and baths, stainless steel appliances, and beautiful tile floors. Spacious three bedrooms and two baths with a downstairs powder room. Master suite includes a bath with a soaking tub and walk-in closet. Plantation shutters in most rooms and designer paint. Contemporary fireplace in the living room makes this wonderful Townhome a true delight! Garage has flecked painted floors and a built in workbench with built in cabinets per builder. The Waverly Place community features a pool, spa and playground. Close to shopping and restaurants. Come see this gorgeous unit! This listing is presented by Gaye McLean (DRE# 0142076) from Prudential California Realty's Thousand Oaks office.  To schedule a showing, please contact Gaye at gmclean@prucalhomes.com, or visit our website at www.prucalhomes.com.

Opening Homeownership Doors For More Veterans

Military personnel looking for financing in today’s mortgage environment can take advantage of the VA loan program, which has been available for more than six decades to help members of the military own their own homes. The program, established in 1944 as part of the Servicemen’s Readjustment Act, is available for any individual who has served in active duty in any branch of the U.S. military for a minimum of 90 days.

         “The beauty of this loan is that it allows financing without requiring a down payment,” said Eric Kandell, founder of lowvarates.com. “It also doesn’t allow the mortgage lender to charge the veteran private mortgage insurance.”  A VA loan requires the borrower to pay a one-time funding fee on their purchase, which can be paid up-front or financed into the total cost of the loan. The funding fee for regular military members is 2.15% of the loan. Reservists pay a fee of 2.40%.

         Non-active duty personnel, such as individuals in the Army Reserves or National Guard, may apply for a VA-backed mortgage provided they have completed six years of service. Spouses of deceased or missing military members are also eligible if they have not remarried. Those who were dishonorably discharged from any military branch are not eligible.

The Department of Veteran’s Affairs states that roughly 25 million people are eligible  for a VA loan yet only 10%-15% of those have taken advantage of it when buying or refinancing. For many years, leading up to the mortgage crisis there were many conventional mortgage products that were easier or more economical to the veteran than the VA loan. “In the wild, wild west of mortgage lending from the early 2000s to 2008, 100% financing was common,” Thorne said. “So why pay the VA funding fee just to have 100 percent financing?

   Today, veterans remain in the dark about VA loan benefits or that the program even exists. Thankfully,  Prudential California Realty has an in-house Lening company to assist potential buyers with finding the right type of financing.  For more information about homes in Ventura County or to contact our agents or lending company, please visit www.prucalhomes.com

Look At Our Beautiful New Website!

See it now at www.prucalhomes.com

Prudential Real Estate is a reputable worldwide brand, now owned by one of the most respected and recognized brands, Berkshire Hathaway Home Services.  While the brand itself is a global powerhouse, the company also felt the need to emphasize its local ownership and community presence through a more community-focused website.

Broker/Owner Bob Majorino started the company in Thousand Oaks over 30 years ago, and has expanded Prudential California Realty to five offices located throughout Ventura County.  “Our agents are experts in the community and our goal in the website re-design was to provide our customers with exceptional service by providing relevant community and real estate information,” said Majorino.

The new site is hyper-localized to Ventura County, with individual pages for each local area with easily accessible market statistics and community information.  “It was really important for us to continue to localize the brand in a way that Ventura County consumers can relate to on a personal level, while still conveying the strength of a national brand,” said Marketing Director Gina Lipari.

Another important factor for the company’s new site was the property search functionality. All search results are easy to navigate and sort, and each search result features a virtual tour with voiceover.  Individual results also include a “Walk-Score,” ranking each listing by its location and access to area amenities and a “Chalk Score” ranking the local schools.  In addition to general property searches, consumers can now save searches and receive alerts when new listings match their criteria.

With five offices throughout Ventura County, Prudential California Realty is an independently owned and operated member of BRER Affiliates Inc.  For office locations or to view the company’s new website, please visit www.prucalhomes.com.

The Life of A Working Real Estate Agent

One of the most complex and significant financial events in peoples’ lives is the purchase or sale of a home or investment property. Because of this complexity and significance, people typically seek the help of real estate agents when buying or selling real estate.

Real estate sales agents need to have a thorough knowledge of the real estate market in their communities. They should know which neighborhoods will best fit clients’ needs and budgets. They are familiar with local zoning and tax laws and know where to obtain financing. Agents and brokers also act as intermediaries in price negotiations between buyers and sellers.

Agents spend a significant amount of time looking for properties to sell. They obtain listings—agreements by owners to place properties for sale with the firm. When listing a property for sale, agents and brokers compare the listed property with similar properties that recently sold, in order to determine a competitive market price for the property. Following the sale of the property, both the agent who sold it and the agent who obtained the listing receive a portion of the commission. Thus, agents who sell a property that they themselves have listed can increase their commission.

Agents may meet several times with prospective buyers to discuss and visit available properties. Agents identify and emphasize the most pertinent selling points. To a young family looking for a house, for example, they may emphasize the convenient floor plan, the area’s low crime rate, and the proximity to schools and shopping. To a potential investor, they may point out the tax advantages of owning a rental property and the ease of finding a renter. If bargaining over price becomes necessary, agents must follow their client’s instructions carefully and may have to present counteroffers to get the best possible price.

Once the buyer and seller have signed a contract, the real estate broker or agent must make sure that all special terms of the contract are met before the closing date. The agent must make sure that any legally mandated or agreed-upon inspections, such as termite and radon inspections, take place. In addition, if the seller agrees to any repairs, the broker or agent ensures they are made. Increasingly, brokers and agents are handling environmental problems as well, by making sure that the properties they sell meet environmental regulations. For example, they may be responsible for dealing with lead paint on the walls. Loan officers, attorneys, or other people handle many details, but the agent must ensure that they are carried out.

Advances in technology and the ability to retrieve data about properties via the Internet allow many real estate agents to work out of their homes, in addition to their real estate offices. Even with this convenience, agents spend much of their time away from their desks—showing properties to customers, analyzing properties for sale, meeting with prospective clients, or researching the real estate market.

The most successful agents often work more than a standard 40-hour week. They usually work evenings and weekends and are usually on call to respond to the needs of clients. Although the hours are long and frequently irregular, most agents and brokers have the freedom to determine their own schedule. They can arrange their work so that they have time off when they want it. Business usually is slower during the winter season.

In every State, real estate agents must be licensed. Prospective agents must be high school graduates, be at least 18 years old, and pass a written test. A large number of agents have some college training. College courses in real estate, finance, business administration, statistics, economics, law, and English are helpful. More than 1,000 universities, colleges, and community colleges offer courses in real estate. Most offer an associate or bachelor’s degree in real estate; some offer graduate degrees. Many local real estate associations that are members of the National Association of Realtors sponsor courses covering the fundamentals and legal aspects of the field. Advanced courses in mortgage financing, property development and management, and other subjects also are available.

Our firm offers formal training programs for both beginners and experienced agents.

As agents gain knowledge and expertise, they become more efficient in closing a greater number of transactions and increase their earnings. 

Employment of real estate agents is expected to grow 11 percent during the 2008-18 decade. Relatively low interest rates and the perception that real estate usually is a good investment, coupled with the recovery from a recent sharp decline in property values may continue to stimulate sales of real estate, resulting in the need for more agents.

Well-trained, ambitious people who enjoy selling—particularly those with extensive social and business connections in their communities will have the best chance for success.

Interested in a career in Real Estate with one of the most highly-recognized and well-respected brands in the country?  Visit www.PruCalCareers.com to apply today!

Prices Up, Sales Up, Foreclosures Down... Why Wait?

California home prices posted an eighth straight annual increase in October, the latest evidence that the state's housing market recovery is picking up steam amid tight inventories. The median price for new and existing houses and condominiums reached $285,000, up 18.8 percent from $240,000 in October 2011 and hovering near a four-year high of $287,000 in September, DataQuick said.

To view local market conditions and real estate prices throughout Ventura County, please visit www.prucalhomes.com to sign up for weekly market update reports. Foreclosed properties made up a smaller part of the sales mix, lifting the median price because they tend to sell at steep discounts. DataQuick said homes that were foreclosed upon in the previous year accounted for 17.4 percent of existing home sales last month, down from 34 percent a year earlier and down from 58.5 percent in February 2009.

The total number of homes sold is actually up, even though we hear inventory is low.  It is just selling too fast.  There were 39,254 homes sold in the state last month, up 15.2 percent from 34,087 sales the same period last year, DataQuick said. The gains come in an environment of low borrowing rates and a limited supply of homes for sale.

Many homeowners are still owe more than their property is worth, making them reluctant to put their homes up for sale until prices climb. According to research firm CoreLogic, several California markets exceed national figures for homeowners with "negative equity." At Prudential California Realty, we have a dedicated Short Sale Department, fully-staffed with expert negotiators to ensure a stress-free and smooth transaction. 

If you or someone you know wants to take advantage of this great market to buy or sell a home in Southern California, please visit www.prucalhomes.com to contact a local real estate agent, or call 888-352-1652.

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