Slide 1

Presidio Real Estate Services Bi-Annual Housing Market Report Source Ventura County Regional Datashare Foreclosure Radar and Presidio Independent Research Associates Rental Market Summary Select Cities Active Rental Listings Leased Properties Sales Market Summary Select Cities Bank Owned Properties Normal Market Summary Foreclosure Market Summary New Filings Filings by Market Value Misc. Data Rental Market Summary Select Cities Active Rental Listings Leased Properties Sales Market Summary Select Cities Bank Owned Properties Normal Market Summary Foreclosure Market Summary New Filings Filings by Market Value Misc. Data Report Highlights Slide 2 Total Homes Leased & Avg. Price Thru July 2010 Source Ventura County Regional Datashare and Other Data Providers Single Family, Condo, Townhomes- Priced Between $1,000-$6000 Slide 3 Source Ventura County Regional Datashare and Other Data Providers Total Leased and Avg. Prices by Month Slide 4 Ventura County Leased Properties Jan-July 2010 Source Ventura County Regional Datashare and Other Data Providers Total LeasedPriceDays on MarketAvg. SizeAvg. PSQFTAvg. Deposit Agoura Hills53$2,671391,855$1.50$4,320 Camarillo180$2,091411,655$1.33$2,549 Moorpark52$2,517402,086$1.27$3,606 Newbury Park120$2,532391,867$1.40$3,762 Oak Park58$2,423561,619$1.53$3,825 Oxnard305$1,791491,661$5.06$1,949 Port Hueneme100$1,384601,132$1.27$1,457 Santa Paula13$1,431471,302$1.14$1,587 Simi Valley124$2,251411,763$1.37$3,244 Thousand Oaks218$2,394451,784$1.39$3,751 Ventura239$1,860461,424$1.40$2,161 Westlake Village168$3,003482,023$1.54$5,174 Grand Total & Avgs.1630$2,176461,685$2.08$3,015 Single Family -Condos, Townhomes, Priced Between $1,000-$6000 Slide 5 4 Bedroom Properties Source Ventura County Regional Datashare and Other Data Providers Total LeasedAvg. priceDays on MarketAvg SizeAvg. PSQFTAvg Deposit 2 Bedroom Camarillo50$1,551511,175$1.35$1,871 Moorpark4$1,675811,214$1.40$2,650 Newbury Park13$1,48757972$1.53$1,798 Oxnard112$1,451551,536$1.39$1,626 Simi Valley25$1,498501,020$1.49$1,843 Thousand Oaks30$1,629501,116$1.49$2,412 Ventura84$1,519611,049$1.49$1,706 Westlake Village52$2,232451,433$1.60$3,739 2 Bedroom Total370$1,611541,270$1.45$2,070 3 Bedroom Camarillo74$2,163371,650$1.33$2,695 Moorpark21$1,971341,439$1.39$2,421 Newbury Park53$2,312381,642$1.43$3,251 Oxnard115$1,942411,647$1.25$2,162 Simi Valley46$2,237491,670$1.37$3,340 Thousand Oaks88$2,261451,610$1.42$3,578 Ventura98$2,010341,541$1.36$2,385 Westlake Village57$2,928441,875$1.59$4,996 3 Bedroom Total552$2,197401,640$1.38$3,004 4 Bedroom Camarillo35$2,585382,240$1.18$2,904 Moorpark20$2,917342,517$1.19$4,348 Newbury Park45$2,923382,231$1.34$4,463 Oxnard56$2,217412,088$1.10$2,234 Simi Valley35$2,530282,061$1.28$3,122 Thousand Oaks77$2,916432,286$1.30$4,570 Ventura32$2,271391,959$1.21$2,580 Westlake Village45$3,682572,595$1.43$6,401 4 Bedroom Total345$2,771412,243$1.26$3,902 5 Bedroom Camarillo9$3,642503,307$1.12$4,972 Moorpark7$3,492513,297$1.07$5,586 Newbury Park7$3,950273,210$1.24$7,246 Oxnard7$2,421712,575$0.94$2,650 Simi Valley10$3,930283,656$1.08$7,928 Thousand Oaks11$3,016372,467$1.23$5,101 Ventura9$2,655262,468$1.10$3,055 Westlake Village11$4,767343,584$1.36$8,807 5 Bedroom Total71$3,530393,080$1.15$5,815 Grand Total1338$2,254441,769$1.36$3,126 Slide 6 Sales Comparison 3 & 4 Bedroom Homes 3 Bedroom Single Family Homes Time PeriodMedian Price# Units Jul-10380,000181 Jun-10392,500215 May-10391,000225 April-10370,000202 Mar-10374,750204 Feb-10365,000159 Jan-10365,000134 Dec-09360,000205 4 Bedroom Single Family Homes Time PeriodMedian Price# Units Jul-10490,000181 Jun-10490,000201 May-10465,000200 April-10466,000216 Mar-10485,000177 Feb-10520,000134 Jan-10445,000127 Dec-09491,000202 Source Ventura County Regional Datashare and Other Data Providers Slide 7 Ventura County Leased Properties 2-3-4-5 Bedroom Units Total LeasedPriceDays on MarketAvg SizeAvg. PSQFTAvg Deposit 2 Bedroom Agoura Hills 8$1,49145933$1.60$1,959 Camarillo 50$1,551511,175$1.35$1,871 Moorpark 4$1,675811,214$1.40$2,650 Newbury Park 13$1,48757972$1.53$1,798 Oak Park 19$1,830711,190$1.54$2,833 Oxnard 112$1,451551,536$1.39$1,626 Simi Valley 25$1,498501,020$1.49$1,843 Thousand Oaks 30$1,629501,116$1.49$2,412 Ventura 84$1,519611,049$1.49$1,706 Westlake Village 52$2,232451,433$1.60$3,739 2 Bedroom Total 397$1,619551,260$1.46$2,104 3 Bedroom Agoura Hills 17$2,573471,695$1.54$4,012 Camarillo 74$2,163371,650$1.33$2,695 Moorpark 21$1,971341,439$1.39$2,421 Newbury Park 53$2,312381,642$1.43$3,251 Oak Park 19$2,570381,641$1.58$3,733 Oxnard 115$1,942411,647$1.25$2,162 Simi Valley 46$2,237491,670$1.37$3,340 Thousand Oaks 88$2,261451,610$1.42$3,578 Ventura 98$2,010341,541$1.36$2,385 Westlake Village 57$2,928441,875$1.59$4,996 3 Bedroom Total 588$2,220411,641$1.39$3,057 4 Bedroom Agoura Hills 22$3,054282,249$1.38$5,204 Camarillo 35$2,585382,240$1.18$2,904 Moorpark 20$2,917342,517$1.19$4,348 Newbury Park 45$2,923382,231$1.34$4,463 Oak Park 10$3,305262,279$1.48$5,688 Oxnard 56$2,217412,088$1.10$2,234 Simi Valley 35$2,530282,061$1.28$3,122 Thousand Oaks 77$2,916432,286$1.30$4,570 Ventura 32$2,271391,959$1.21$2,580 Westlake Village 45$3,682572,595$1.43$6,401 4 Bedroom Total 377$2,801402,244$1.27$4,026 5 Bedroom Agoura Hills 3$3,383702,332$1.45$4,783 Camarillo 9$3,642503,307$1.12$4,972 Moorpark 7$3,492513,297$1.07$5,586 Newbury Park 7$3,950273,210$1.24$7,246 Oak Park 5$3,479572,689$1.33$5,916 Oxnard 7$2,421712,575$0.94$2,650 Simi Valley 10$3,930283,656$1.08$7,928 Thousand Oaks 11$3,016372,467$1.23$5,101 Ventura 9$2,655262,468$1.10$3,055 Westlake Village 11$4,767343,584$1.36$8,807 5 Bedroom Total 79$3,521423,027$1.18$5,782 Grand Total 1441$2,278441,770$1.37$3,197 Slide 8 Source Ventura County Regional Datashare and Other Data Providers Slide 9 UnitsAvg. PriceAvg. SizeAvg. Days ListedAvg. PQSFT 3 Bedroom Agoura1$3,9001922442.03 Camarillo12$2,3571857391.29 Moorpark5$2,079135771.55 Newbury Park6$2,5831823311.48 Oak Park4$2,8731491151.93 Oxnard49$2,2821727341.38 Port Hueneme11$1,6671223581.38 Simi Valley16$2,1151408281.51 Thousand Oaks18$2,4361607341.56 Ventura25$2,2571528771.53 Westlake Village18$3,3301972661.71 3 Bedroom Total165$2,3871643441.49 4 Bedroom Agoura1$4,0002327231.72 Camarillo2$2,275183321.24 Moorpark3$3,3832955731.17 Newbury Park9$3,3392474201.39 Oxnard15$3,3752583341.35 Port Hueneme1$2,3002425500.95 Simi Valley5$2,3571936741.22 Thousand Oaks15$2,9132154261.39 Ventura8$2,8662216401.31 Westlake Village10$4,4052783621.59 4 Bedroom Total69$3,2482404391.37 5 Bedroom Camarillo1$4,500383431.17 Moorpark2$3,0003169200.95 Newbury Park1$4,2503964161.07 Oak Park1$5,500401071.37 Oxnard3$2,583278850.93 Simi Valley2$4,4503501591.28 Thousand Oaks2$5,8754147681.42 Westlake Village2$4,450336751.35 5 Bedroom Total14$4,1113467251.17 Slide 10 Source Ventura County Regional Datashare and Other Data Providers Ventura County Active Rental Listings Jan-July 2010 Ventura County Active Rental Listings Jan-July 2010 Slide 11 Ventura County Active Rental Listings Source Ventura County Regional Datashare and Other Data Providers UnitsAvg. PriceAvg. SizeAvg. Days ListedAvg. PQSFT Agoura 3$3,2501831291.75 Camarillo 20$2,4341892321.38 Fillmore 1$3,5003800510.92 Moorpark 13$2,4151926311.38 Newbury Park 21$3,0022173341.53 Oak Park 9$2,7091592261.76 Ojai 3$2,4971671961.50 Oxnard 123$2,1852067481.43 Port Hueneme 45$1,4011078531.37 Santa Paula 8$1,2092358670.81 Simi Valley 37$2,1221544421.45 Thousand Oaks 42$2,6331821351.51 Ventura 67$2,0031364551.56 Westlake Village 46$3,2821953471.76 Grand Total438$2,2921766461.48 Slide 12 Ventura County Active Rental Listings July 2010 Source Ventura County Regional Datashare and Other Data Providers UnitsAvg. PriceAvg. SizeAvg. Days ListedAvg. PQSFT Agoura 3$3,2501831291.75 Camarillo 20$2,4341892321.38 Fillmore 1$3,5003800510.92 Moorpark 13$2,4151926311.38 Newbury Park 21$3,0022173341.53 Oak Park 9$2,7091592261.76 Ojai 3$2,4971671961.50 Oxnard 123$2,1852067481.43 Port Hueneme 45$1,4011078531.37 Santa Paula 8$1,2092358670.81 Simi Valley 37$2,1221544421.45 Thousand Oaks 42$2,6331821351.51 Ventura 67$2,0031364551.56 Westlake Village 46$3,2821953471.76 Grand Total438$2,2921766461.48 Slide 13 Sales Market Summary Source Ventura County Regional Datashare and Other Data Providers Slide 14 Sold Properties By Month Full Market and Bank Properties Source Ventura County Regional Datashare and Other Data Providers Month# PropertiesMedian PriceAvg DOMBank # Properties% BankBank Median Price Jul-10 212 530,000 96 56 26.42 435,500 Jun-10 247 555,000 100 76 30.77 452,000 May-10 239 512,000 83 71 29.71 424,900 Apr-10 226 512,500 96 73 32.30 410,000 Mar-10 226 555,000 113 59 26.11 425,000 Feb-10 158 505,000 112 61 38.61 410,000 Jan-10 165 512,000 98 49 29.70 412,500 Dec-09 231 535,000 97 63 27.27 410,000 Nov-09 203 510,000 91 62 30.54 425,000 Oct-09 230 559,500 104 66 28.70 423,500 Sep-09 214 562,500 97 65 30.37 482,000 Aug-09 242 574,500 96 67 27.69 399,000 Jul-09 264 610,000 115 77 29.17 420,000 Slide 15 Source Ventura County Regional Datashare and Other Data Providers Slide 16 Housing Supply and Demand Select Cities Source Ventura County Regional Datashare and Other Data Providers Month# Units For Sale For Sale Average Days Listed # Sold UnitsSold Average DOM Jul-10 1,523 99 212 96 Jun-10 1,466 124 247 100 May-10 1,410 144 239 83 Apr-10 1,399 155 226 96 Mar-10 1,378 166 226 113 Feb-10 1,246 184 158 112 Jan-10 1,201 194 165 98 Dec-09 1,153 208 231 97 Nov-09 1,263 204 203 91 Oct-09 1,350 202 230 104 Sep-09 1,407 206 214 97 Aug-09 1,420 207 242 96 Jul-09 1,462 208 264 115 Slide 17 Source Ventura County Regional Datashare and Other Data Providers Month# PropertiesMedian PriceBank # Properties% BankBank Median Price Jul-10 404 615,000 100 24.75 464,500 Jun-10 409 594,000 91 22.25 465,000 May-10 390 650,000 101 25.90 450,000 Apr-10 408 597,000 105 25.74 475,000 Mar-10 446 589,250 130 29.15 454,500 Feb-10 332 577,250 83 25.00 464,500 Jan-10 323 549,000 103 31.89 399,950 Dec-09 201 545,000 70 34.83 464,975 Nov-09 250 549,000 72 28.80 404,900 Oct-09 298 590,000 85 28.52 449,000 Sep-09 313 599,900 86 27.48 449,500 Aug-09 322 599,000 96 29.81 449,000 Jul-09 339 609,900 93 27.43 474,000 Newly Listed Properties Jul-09 vs. Jul-10: The number of New bank properties is up 8% Jul-09 vs. Jul-10 Slide 18 Source Ventura County Regional Datashare and Other Data Providers Housing Supply Has Been Steadily Increasing Since Dec 2009 Slide 19 Source Ventura County Regional Datashare and Other Data Providers Expired Listings By Month The Bank Median Price is Significantly Lower Than Non Bank Owned Units Slide 20 Source Ventura County Regional Datashare and Other Data Providers Slide 21 New Properties by Month (Bank) Jul-09 vs. Jul-10: The number of new bank properties is up 8% Slide 22 Source Ventura County Regional Datashare and Other Data Providers Month# PropertiesMedian PriceBank # Properties% BankBank Median Price Jul-10 404 615,000 100 24.75 464,500 Jun-10 409 594,000 91 22.25 465,000 May-10 390 650,000 101 25.90 450,000 Apr-10 408 597,000 105 25.74 475,000 Mar-10 446 589,250 130 29.15 454,500 Feb-10 332 577,250 83 25.00 464,500 Jan-10 323 549,000 103 31.89 399,950 Dec-09 201 545,000 70 34.83 464,975 Nov-09 250 549,000 72 28.80 404,900 Oct-09 298 590,000 85 28.52 449,000 Sep-09 313 599,900 86 27.48 449,500 Aug-09 322 599,000 96 29.81 449,000 Jul-09 339 609,900 93 27.43 474,000 New Properties Listed By Month Bank and Normal Market Source Ventura County Regional Datashare and Other Data Providers Slide 23 The Housing Market is Still Soft Increasing supply may depress pricing further if demand does not pick up Homes Priced Above $600,000 can and will continue to drop in price Floor or Bottom Established in some areas and some price ranges ($300,000-$400,000) Investment Opportunities Abound Mortgage Rates are at 4.375-4.50 No Points for a Purchase under $417,000 (08/05/2010) Source Ventura County Regional Datashare and Other Data Providers Slide 24 Run a Detailed Analysis Understand Pros and Cons Where and How you will get a good deal Tax Implications and how it effects your returns Understand Financial Terms Network with Professionals Have a good team in place Good agents will help younot hinder you Seek advice of your local real estate investment firm Run a Detailed Analysis Understand Pros and Cons Where and How you will get a good deal Tax Implications and how it effects your returns Understand Financial Terms Network with Professionals Have a good team in place Good agents will help younot hinder you Seek advice of your local real estate investment firm Source Ventura County Regional Datashare and Other Data Providers Short Sales Foreclosures Slide 25 FORECLOSURES Lenders are Discounting Properties Significantly from what is owed at Foreclosure Auction Some are great deals Beware of hidden items Professional Investors Streaming In Short Sales Great Opportunities New Guidelines for Loan Servicers Fannie Me and Freddie Mac establish set guidelines Source Ventura County Regional Datashare and Other Data Providers Slide 26 Slide 27 New Notice of Trustee Sale Filings By Estimated Home Value July 2010 Foreclosure Radar Notice of Sale: there is less than 20 Business days until Foreclosure Slide 28 Source Ventura Source: Foreclosure Radar Slide 29 Foreclosure Radar 6/7/20106/14/20106/21/20106/28/20107/5/20107/12/20107/19/20107/26/2010 PublishedBid $ 485,937 $ 510,079 $ 485,580 $ 462,057 $ 384,616 $ 503,789 $ 501,849 $ 463,706 Opening Bid $ 359,335 $ 344,906 $ 345,380 $ 320,415 $ 293,279 $ 360,110 $ 386,663 $ 359,397 % Discounted 35%48%41%44%31%40%30%29% Diff $ 126,602 $ 165,173 $ 140,200 $ 141,642 $ 91,337 $ 143,679 $ 115,186 $ 104,309 WinningBid $ 368,857 $ 348,542 $ 354,114 $ 330,443 $ 302,310 $ 366,777 $ 391,163 $ 363,657 Foreclosure Auction Results June 7 th July 19 th Slide 30 Rental Market Holding Steady Tenants are More Selective Quality Properties Rent Fast Decent supply of well qualified tenants Increased supply of tenants with poor credit Quality Properties--- Get Quality Tenants Source Ventura County Regional Datashare and Other Data Providers Slide 31 Property Management and Leasing Solutions For Owners and Investors Source Ventura County Regional Datashare and Other Data Providers Poor Tenant Relations Costs Owners Thousands Of Dollars Every Year Call 805-499-7300 To Get the Advice and Guidance You Need