Dave & Pat Zumbrun
(805) 340-9338
Pat Zumbrun
Broker/Owner-SFR
Email Pat at patz4re@aol.com
Cell: (805) 340-9338
BRE #01229401
Dave Zumbrun
Broker/Owner-SFR
Email Dave at zman4re@aol.com
Cell: (805) 340-9339
BRE #01227683
The Pandemic’s Effect on the Ventura Housing Market
Ninety years ago, the United States experienced the Great Depression. Twelve years ago, we saw the Great Recession. Now? A global pandemic. During the first two eras, the housing market took a massive hit. The Ventura housing market seems to differ during the global pandemic. Low inventory and even lower interest rates kept prices from dropping like a rock. Is it still a good time to buy a Ventura home right now? The answer might surprise you.
The Pandemic’s Effect on the Ventura Housing Market
State of the County
Yes, sales have slowed down. Part of this is due to the shelter-in-place order Governor Newsom put into effect several weeks ago. And part of it is due to so many out-of-work people. However, Ventura County opened up their beaches (with limitations) on April 20th. Other businesses slowly began reopening to the public earlier this month. Soon, we may see more buyers looking for properties to purchase again. That means more competition which might force prices to increase.
Equity Helps
As prices steadily rose over the last few years, Ventura County homeowners enjoyed a nice equity boost. Even if you bought your house just a couple of years ago, you most likely saw your home values go up a bit, too. That helps cushion the blow of any declines in home values over the last couple of months.
Low Inventory
All across the country, we have seen housing inventory decrease. The same rings true for the Ventura housing market. Builders have trouble keeping up with demand in many areas. And with government offices shut down, obtaining permits for new builds pretty much ground to a halt. Any building going on since mid-March was taking place on already approved permits. So, the backlog we might see if the shelter-in-place order is lifted in July like the governor hopes could create an even larger inventory drop.
Bottom line: if you want to buy a Ventura home right now, go for it. Interest rates remain extremely low. Anyone with a decent credit score, a little money to put down, and a steady income should be able to take advantage of the Ventura housing market right now. We might start to see housing prices go up in the next few months. So, the time to act is now. Contact the Z Team if you’re interested in looking at properties for sale in Ventura County.
Dave & Pat Zumbrun, your Ventura County real estate specialists
Ventura Beaches Open Up With Limited Use During COVID-19
Back in mid-March, Governor Gavin Newsom issued his Stay at Home order for the state of California. Government officials eased these restrictions a little bit in mid-April. While restaurants still only offer to-go or delivery options, golf courses, bike shops, and car lots opened back up to the public. From April 4th to April 20th, Ventura beaches shut down due to COVID-19 concerns. However, as of April 20th, local officials opened up Ventura Beaches for limited usage. They want the public to enjoy our gorgeous Southern California weather but strongly encourage continued social distancing.
Ventura Beaches Limited Use
What’s Allowed?
For now, officials allow the following activities on Ventura beaches, parks, trails, and pathways:
- Walking
- Hiking
- Biking
- Running
- Jogging
- Ocean activities (swimming, surfing, parasailing, boating)
What’s Not Allowed?
- Group gatherings
- Sitting or standing
- Lying down
- Fishing
For now, playgrounds, skate parks, picnic areas, pools, public restrooms, baseball fields, tennis courts, and parking lots remain off-limits for public gatherings. However, the modified order from Ventura officials allows public gatherings of people as long as they stay in the cars with the windows rolled up. And the gathering must be in an open-air location/outdoor venue. Cars cannot be parked closer than six feet from each other and cannot contain more than five people at a time.
Remember, though, to stay at least six feet from others that don’t reside in your household. We’re not in the clear from possible COVID-19 exposure. Even when asymptomatic, you may still infect others in your friends and family circle that are vulnerable to this disease. If we all adhere to social distancing rules, wash our hands regularly for at least 20 seconds at a time, and disinfect doorknobs, countertops, and other high traffic areas of our houses, we can open the entire state back up soon. Do your part to stay healthy and safe.
Ventura County Featured Home for Sale
For more information about this and other Ventura area homes for sale, please visit our Featured Listings page here.
Dave & Pat Zumbrun, your Ventura County real estate specialists
