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Inside Ventura County Real Estate

Teri Pacitto


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Westlake Village Real Estate Market Update May 21, 2014

by Teri Pacitto

I have conversations with my clients constantly about home prices and the few homes that are on the market in Westlake Village and Thousand Oaks, CA which includes 91361 and 91362 zip codes and both Los Angeles and Ventura Counties.  Even though we have seen an increase in the number of homes for sale our inventory is still low and home buyers are still in competition for the best properties.  Some homes do sit on the market for a period of time and typically it is due to price, condition and location which are always factors in salability of a home.  Most home buyers are looking for the best home they can get for their money and that means they want a home that does not need a lot of work and one that is in move in condition.  Often the homes that are in move in condition will be priced higher and that might price homes out of the market for a buyer.  I have always tried guide buyers to find a home in a location and has most of what they are searching for and to see through the cosmetic aspects of their "Dream Home".  

Finding a "Dream Home" is often a process of give and take and also negotiating which is what a full time, experienced REALTOR does.  Having assisted home buyers and sellers in the Westlake Village and Thousand Oaks area since 1988, I have always been able to match the home that fits the buyers needs.  

Even with the lack of inventory there is always a home for everyone.  Homes come and go daily and to not miss your opportunity to Buy or Sell it's best to choose and stick with a real estate professional that has your needs as #1 and will stick with you to guide you to your best decision and one of the most important decisions you will ever make.  

This local real estate market update gives you an idea of what the real estate market looks like in the Westlake Village and Thousand Oaks area.  This data does change and the best way to keep current is to visit us on our Local Information Site or call us to discuss your current and future real estate needs.  If you would like to compare your homes value today you can do this instantly at My Home Value Toolbox

This is a Market Snapshot for homes in the Westlake Village and Thousand Oaks area for homes priced to $1M.  

Property Type  Residential    Include Property Subtype  Single Family    Areas  Westlake Village, Thousand Oaks (L) Counties  Los Angeles, Ventura ZIP Codes  91361, 91362 , Sold (11/22/2013 or after) Price  999,999 or less     
 listings per Status
 Minimum, Average, Maximum
 Days On Market Analysis
 Listing Price\Selling Price

An Experienced Agent Could Mean $25,000 More for Your Home!

Short sale Agent in Thousand Oaks, Westlake Village, Newbury Park, Oak Park, Agoura Hills can help you with the sale of your home.  Why not give us a call today to see how this might be your best option. 

For real estate agents, experience brings a number of advantages. With experience, agents gain deep market knowledge, stronger negotiating skills, a wider professional network and more. According to a recent study in the Journal of Housing Research, these tools could mean the difference of $25,000 for your home!  Teri Pacitto has listed and sold and helped families just like yours with 100's of short sales in the past few years and can assist you as well. 

In the study, homes listed by experienced real estate agents sold for $25,000 dollars more, on average, than those listed by rookie agents. Experienced agents were also more likely to sell the home and to sell it faster.

For homeowners who are struggling with their mortgages and looking for answers, finding a trained and experienced Agent is even more important. It takes an experienced agent to help homeowners understand their options and help them find the best path through their unique situations.

I have a report entitled “The $25,000 Home Selling Bonus” that explains how working with an experienced and trained Agent can benefit you. I think you’ll be surprised by the difference that experience makes.

If you or someone you know can use my help, please Contact us for a copy of this report or go to our informative Short Sale website to view it today.  After you review the report,  contact me for a free, confidential consultation.

For information on how a Short Sale might be your best option please Contact us via email or call us 805.444.7013.  All inquires are confidential.  


Interested in knowing the value of your home in today's market?  It's quick and easy...go to the link below and click on  Value Check...home prices are going up and your home is worth more in today's real estate market.  

Today’s real estate market is very different than it was a year ago. Prices have increased rapidly over the past 6-8 months. In fact, prices have increased 7-12% nationwide in the last 12 month

If you or someone you know has been waiting the market out for prices to increase before selling their home, then the time has arrived to start exploring options again.

I would love to talk to you about today’s market and answer any questions you might have. If you or anyone you know could use my expertise, please feel free to reach out to me!

Find out the value of your home now.  Value Check 



Common Closing Costs for Home Buyers.

by Teri Pacitto

Common Closing Costs for Home buyers

You’ll likely be responsible for a variety of fees and expenses that you and the seller will have to pay at the time of closing. Your lender must provide a good-faith estimate of all settlement costs. The title company or other entity conducting the closing will tell you the required amount for:

  • Down payment
  • Loan origination
  • Points, or loan discount fees, which you pay to receive a lower interest rate
  • Home inspection
  • Appraisal
  • Credit report
  • Private mortgage insurance premium
  • Insurance escrow for homeowner’s insurance, if being paid as part of the mortgage
  • Property tax escrow, if being paid as part of the mortgage. Lenders keep funds for taxes and insurance in escrow accounts as they are paid with the mortgage, then pay the insurance or taxes for you.
  • Deed recording
  • Title insurance policy premiums
  • Land survey
  • Notary fees
  • Prorations for your share of costs, such as utility bills and property taxes


A Note About Prorations: Because such costs are usually paid on either a monthly or yearly basis, you might have to pay a bill for services used by the sellers before they moved. Proration is a way for the sellers to pay you back or for you to pay them for bills they may have paid in advance. For example, the gas company usually sends a bill each month for the gas used during the previous month. But assume you buy the home on the 6th of the month. You would owe the gas company for only the days from the 6th to the end for the month. The seller would owe for the first five days. The bill would be prorated for the number of days in the month, and then each person would be responsible for the days of his or her ownership.

Hire an Experienced Real Estate Professional Today!  

Teri Pacitto, Broker Associate, REALTOR   Contact me today!

Tips for Buying in a Tight Real Estate Market.

by Teri Pacitto

Tips for Buying in a Tight Market

Increase your chances of getting your dream house in a competitive housing market, and lower your chances of losing out to another buyer.

1. Get prequalified for a mortgage. You’ll be able to make a firm commitment to buy and your offer will be more desirable to the seller.

2. Stay in close Contact with your real estate Agent to find out about the newest listings. Be ready to see a house as soon as it goes on the market — if it’s a great home, it will go fast.

3. Scout out new listings yourself. Look at Web sites such as, browse your local newspaper’s real estate section, and drive through the neighborhood to spot For Sale signs. If you see a home you like, write down the address and the name of the listing Agent. Your real estate agent will schedule a showing.

4. Be ready to make a decision. Spend a lot of time in advance deciding what you must have in a home so you won’t be unsure when you have the chance to make an offer.

5. Bid competitively. You may not want to start out offering the absolute highest price you can afford, but don’t go too low to get a deal. In a tight market, you’ll lose out.

6. Keep contingencies to a minimum. Restrictions such as needing to sell your home before you move or wanting to delay the closing until a certain date can make your offer unappealing. In a tight market, you’ll probably be able to sell your house rapidly. Or talk to your lender about getting a bridge loan to cover both mortgages for a short period.

7. Don’t get caught in a buying frenzy. Just because there’s competition doesn’t mean you should just buy it. And even though you want to make your offer attractive, don’t neglect inspections that help ensure that your house is sound.

Inventory is low and there is a lot of competition for buying homes.  I can help you make your offer stand out and get you the home you want.

It pays to hire an experienced real estate professional if you are serious about buying a home in todays market.  

Teri Pacitto, Broker Associate, REALTOR 

Serving Home buyers and sellers Since 1988.   Contact me to represent your next home purchase or sale. 

Making an Offer on a Short Sale? What You Need to Know...

by Teri Pacitto

Thinking of Making an Offer on a Short Sale? What You Need to Know

Are you looking to buy a idx? Are you thinking that now's a great time to find bargains? That's true, but it pays to know a little about the seller's situation before you make an offer.

If a home is being sold for below what the current seller owes on the property—and the seller does not have other funds to make up the difference at closing—the sale is considered a short sale. Many more home owners are finding themselves in this situation due to a number of factors, including job losses, aggressive borrowing against their home in the days of easy credit, and declining home values in a slower real estate market.

A short sale is different from a foreclosure, which is when the seller's lender has taken title of the home and is selling it directly. Homeowners often try to accomplish a short sale in order to avoid foreclosure. But a short sale holds many potential pitfalls for buyers. Know the risks before you pursue a short-sale purchase.

You're a good candidate for a short-sale purchase if:

  • You're very patient. Even after you come to agreement with the seller to buy a short-sale property, the seller’s lender (or lenders, if there is more than one mortgage) has to approve the sale before you can close. When there is only one mortgage, short-sale experts say lender approval typically takes about two months. If there is more than one mortgage with different lenders, it can take four months or longer for the lenders to approve the sale.
  • Your financing is in order. Lenders like cash offers. But even if you can’t pay all cash for a short-sale property, it’s important to show you are well qualified and your financing is set. If you're preapproved, have a large down payment, and can close at any time, your offer will be viewed more favorably than that of a buyer whose financing is less secure.
  • You don’t have any contingencies. If you have a home to sell before you can close on the purchase of the short-sale property—or you need to be in your idx by a certain time—a short sale may not be for you. Lenders like no-contingency offers and flexible closing terms.

If you're serious about purchasing a short-sale property, it's important for you to have expert assistance. Here are some people you want to work with:

  • Experienced real estate attorney. Only about two out of five short sales are approved by lenders. But a good real estate attorney who's knowledgeable about the short-sale process will increase your chances getting an approved contract. Also, if you want any provisions or very specialized language written into the purchase contract, a real estate attorney is essential throughout the negotiation.
  • A qualified real estate professional.* You may have a close friend or relative in real estate, but if that person doesn’t know anything about short sales, working with him or her may hurt your chances of a successful closing. Interview a few practitioners and ask them how many buyers they've represented in a short sale and, of those, how many have successfully closed. A qualified real estate professional will be able to show you short-sale homes, help negotiate the purchase when you find the property you want to buy, and smooth communications with the lender. (All MLSs permit, and some now require, special notations to indicate that a listing is a short sale. There also are certain phrases you can watch for, such as “lender approval required.”)
  • Title officer. It’s a good idea to have a title officer do an initial title search on a short-sale property to see all the liens attached to the property. If there are multiple lien holders (e.g., second or third mortgage or lines of credit, real estate tax lien, mechanic’s lien, homeowners association lien, etc.), it's much tougher to get that short sale contract to the closing table. Any of the lien holders could put a kink in the process even after you’ve waited for months for lender approval. If you don’t know a title officer, your real estate attorney or real estate professional should be able to recommend a few.

Some of the other risks faced by buyers of short-sale properties include:

  • Potential for rejection. Lenders want to minimize their losses as much as possible. If you make an offer tremendously lower than the fair market value of the home, chances are that your offer will be rejected and you’ll have wasted months. Or the lender could make a counteroffer, which will lengthen the process.
  • Bad terms. Even when a lender approves a short sale, it could require that the sellers sign a promissory note to repay the deficient amount of the loan, which may not be acceptable to some financially desperate sellers. In that case, the sellers may refuse to go through with the short sale. Lenders also can change any of the terms of the contract that you’ve already negotiated, which may not be agreeable to you.
  • No repairs or repair credits. You will most likely be asked to take the property “as is.” Lenders are already taking a loss on the property and may not agree to requests for repair credits.

The risks of a short sale are considerable. But if you have the time, patience, and iron will to see it through, a short sale can be a win-win for you and the sellers.

* Not all real estate practitioners are REALTORS®. A REALTOR® is a member of the NATIONAL ASSOCIATION OF REALTORS® and is bound by NAR’s strict code of ethics.

Note: This article provides general information only. Information is not provided as advice for a specific matter. Laws vary from state to state. For advice on a specific matter, consult your attorney or CPA. 

Before you start the process of Buying or Selling a Short Sale it is important to hire an Agent who knows the process. 

Teri Pacitto, Broker Associate, REALTOR, CDPE, CHS,SFR - Your Short Sale Professional

Contact us to find out more information about short sales.  

Why Banks will Give You Money to Sell the Home You Can't Afford

by Teri Pacitto

In the past, homeowners enduring these challenges had very few options, and most of them would either be forced to lose their home to foreclosure.

Today, however, there are more options. The government and the banks have created a multitude of programs and foreclosure alternatives that can help people in these circumstances find a dignified solution for their problems without crippling their financial future. These options include loan modifications, refinancing, or short sales.

The most amazing development in today's market, however, is one simple fact: Banks are now willing to give cash to homeowners to sell the home they can't afford.

Click Here to take a look at my website, read the free reports, and write down any questions you have. Then, call me today for your free, confidential consultation.

Teri Pacitto, Broker Associate, REALTOR, CDPE, SFR, CHS 

Providing Value to Homeowners Since 1988  


Thousand Oaks, Westlake Village, Newbury Park, Agoura Hills, Oak Park Preferred Short Sale Professional for Bank of America short sales.

If you want to sell your house but it is worth less than the amount remaining on the mortgage, a short sale may allow you to sell your house and settle your mortgage debt.

By completing a short sale rather than allowing your house to go through foreclosure, you avoid eviction and your house will not be sold at a public sale or auction. Plus, depending on your circumstances, you could qualify for financial assistance to help with relocation costs.

To get started with a short sale, call us today at 805.444.7013 or Click here for More Information.


More distressed homeowners finding relief in Thousand Oaks, CA

by Teri Pacitto


More distressed homeowners finding relief in Thousand Oaks, CA

 For homeowners in danger of losing their home to foreclosure, it is common to feel alone and as though there is no help. In Thousand Oaks homeowners in this situation are finding relief thanks to a dedicated Agent trained specifically to help distressed homeowners.

“There are more people who find themselves in this situation than many realize,” says  Teri Pacitto, Broker Associate, REALTOR®, SFR, CHS, CDPE – Aviara Real Estate. “Once they realize they aren’t alone and that there are options, it’s like a whole new world opens up for them.”

There are a number of ways in which homeowners might avoid foreclosure, even if they are late on their payments. Loan modifications, in which the bank changes the terms of the loan so that it is more affordable; mortgage forgiveness, in which the bank agrees to eliminate some or all of the amount owed; or short sales, in which the bank agrees to sell the home for less than the amount owed, are just some of the options available.

As a Certified distressed Property Expert® (CDPE), Teri Pacitto is specially trained to help homeowners who find themselves facing foreclosure understand the options available and choose the solution that is right for them. “It is important to me that homeowners know that they have options and that they are not alone,” Teri Pacitto said.

Teri Pacitto has developed a free report stories of people who have been helped by CDPEs. The report, entitled, “From Foreclosure to Freedom,” is accessible from her website

Teri Pacitto has assisted homeowners who are having difficulty with their mortgage and facing foreclosure.  

Call or email Teri today!  



Educate Yourself So You Don't Become a Victim!

Homeowners in Thousand Oaks, Westlake Village, Agoura Hills, Oak Park, Newbury Park and Moorpark


For distressed homeowners in danger of losing their home, there are already a lot of problems. The last thing a homeowner in this situation needs is to fall victim to a scam. Unfortunately, people in this situation are often the most vulnerable to a kind of fraud called “mortgage relief fraud.”

Fraudsters will prey on people who are looking for a loan modification, short sale or other foreclosure alternative because these are the most common options for distressed homeowners.

There have been legal cases brought against many, but scammers always try to stay a step ahead of law enforcement. Even though many of them have been caught, there are still people who prey on vulnerable homeowners with too-good-to-be-true promises.

In fact, in a recent example highlighted in the New York Times, con artists told homeowners that they represented the bank and that the homeowners were already approved for a loan modification. Only after the homeowners paid thousands of dollars up front did the truth come to light.

I have a report that outlines the most common forms of mortgage relief fraud. Download it for free to educate yourself, then Contact me for a free confidential consultation to ensure that you or someone you know doesn’t become the next victim!

Teri Pacitto, REALTOR®, Broker Associate, DRE# 00997649, CDPE, SFR, CHS

The Shortsale   for FREE Reports and information about how we can help you now!

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Contact Information

Photo of Teri Pacitto Group Real Estate
Teri Pacitto Group
RE/MAX Olson & Associates INC.
30699 Russell Ranch Road, Suite 100
Westlake Village CA 91361
Fax: 805.367.4163

Cal BRE# 00997649