Real Estate Market

Featured Listing

Featured Listing

For Sale: $672,000

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Market Trends for Ventura County

How Reliable is Zillow

One of the common questions I receive is how accurate or reliable is Zillow, Trulia or Redfin in estimating the value of my home?  Generally, speaking the online estimates are usually between 5-15% plus or minus  of the actual market value for most tract homes. That is a pretty significant swing when you consider that homes typically sell within 2-3% of their list price.  Also consider that there is no lender that will lend on a property based on an online estimate.  Watch todays video to hear why there can be discrepancies for online estimates.

 

Federal Reserve Holds Interest Rates Steady

The Federal Reserve left borrowing costs unchanged, continuing to delay any rate moves amid persistently low inflation.

The U.S. central bank voted unanimously to maintain its benchmark interest rate in a range of 2.25 percent and 2.5 percent, a move that many anticipated despite stronger-than-expected growth in the first quarter of 2019 and an unemployment rate near a half-century low.

“Economic activity rose at a solid rate,” while job growth continued to be “solid, on average, in recent months,” the Federal Open Market Committee (FOMC) said in its post-meeting statement released Wednesday in Washington. “Overall inflation and inflation for items other than food and energy have declined and are running below 2 percent.

After a bout of market volatility, Fed officials in January backed away from their plans to continue tightening rates in 2019, with officials primarily citing concerns about a global growth slowdown, Brexit and rocky trade tensions between the U.S. and China. Central bankers had originally signaled two rate hikes this year, but slashed those projections to zero at the end of their last policy meeting in March.

Following the April 30-May 1 gathering, however, Fed Chairman Jerome Powell said during a press conference that those global threats to growth had “moderated” since officials last met.

At the same time, central bankers also noted that household spending and business investment “slowed,” referencing the weaker-than-expected sub-components of the first quarter gross domestic product (GDP) data. Without the boost in the volatile trade and inventory categories, GDP would’ve come in below 2 percent, economists said.

3 Things a Good Loan Officer Will Do For You

There are many different loan options out there for aspiring homeowners. Choosing the right one is important, but so is choosing the right loan officer. Your loan officer will be responsible for helping you through any mortgage-related roadblocks you encounter so you need to make sure your loan officer is prepared to help you.

1. The title of a home is a very important piece of your home purchase. A good loan officer will order a title search to make sure the homeowner is the only person with a claim on the property you’re interested in. They’ll also order an appraisal to make sure the home is worth what the seller is asking for.

2. When you buy a home, you have to meet certain deadlines or your deal could fall through. A good loan officer will stay in touch with you about important deadlines and paperwork requirements throughout the home buying process to make sure everything goes smoothly.

3. When you do get to the finish line, a good loan officer will attend your closing so they can answer any last-minute questions you have as you work your way through the paperwork involved in buying a home.

Contact Information

Photo of Harold Powell Real Estate
Harold Powell
RE/MAX Gold Coast Realtors
5720 Ralston St. Ste. 100
Ventura CA 93003
(805) 339-3516