Written By: Cassandra Messmer
Inventory for rentals and active seller listings still remain low in certain areas of Ventura. The demand for rentals and purchases still remain high, people are looking. When it comes to purchasing, buyers who are putting in offers to purchase a home under $850,000 are being met with heavy competition. It is fierce at the moment and we are seeing prices continue to rise as a result of the current inventory. If you have been thinking about putting your home up in the Ventura County area, NOW would be the time. Keep in mind many companies have given the option to their employees to work from home, so we are seeing people wanting to from the Los Angeles and SF areas, increasing the demand. Then you look at the demand that is seen from first time homebuyers and current residents that are wanting to purchase, and you know … DEMAND IT HIGH! In order to be a contender in this market you must stand out from the herd, typically this is seen by upping the price and waiving the appraisal contingency. Meaning if the appraisal does not come in at the price you were offering, be prepared to pay the difference. Just remember if you won’t, your competition will.
When it comes to rentals the same thing is being seen in regards to inventory, there is just not enough to keep up with the demand. As soon as a rental hits the market the applications start pouring in. We cannot emphasize enough that landlords are looking for the top candidates! Great credit scores, income 3X times the rent, no pets and the list goes on. Keep in mind if you do not have a stellar credit you need to combat this, the best way is always a cosigner. However, in a market like this be prepared to pay 6 + months up front. Believe it or not this has been happening. If you have a pet offer more in the monthly rent, make your offer as appealing as you can to the landlord, you are up against people with amazing credit and no pets!
If you do need assistance or need advice please feel free to reach out to one of our Team Members here at New Beginnings Realty, we are always happy to assist.
