http://www.viddy.com/1wisedad/v/april-18-30-sec-real-estate-market-update-price-up-Cpa4OY
Fannie Mae announced in their most recent economic report that the real estate recovery is "more robust" than they anticipated and that they are now projecting real estate values to increase by 5.1% over the next year. In Ventura County we have already seen a spike in rates with real estate values up over 10% from a year ago. In Camarillo, values have increased by over 13% from a year ago. See the chart below.
These are welcomed gains, but when you put this in perspective with where we have come from, it just appears as a good sign. The chart below gives you a little deeper look at home prices in Camarillo over an extended period of time.
The question is how long can the markets sustain that type of growth in spite of the overall economy. At some point this year or beginning of next we are expecting inventory levels to begin to rise. In addition, we also anticipate that interest rates are likely to increase in 2014. These changes will certainly lead to slower growth. So, if you are considering selling your home in Camarillo or the surrounding Ventura County or Los Angeles County market, now may be the right time to get the premium you have been needing to move on or move up. Call me if that time is now for you.
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