County Has Highest Rate of Home Sales at a Loss

The percentage of homeowners in Ventura County who sold their property at a loss was the highest in the state last year, a real estate information service reports.

More than half the homes sold in the county in 1994 went for a price lower than that originally paid by the seller, according to Dataquick Information Systems. Statewide, slightly fewer than 35% of home sales were at a loss.

Still, real estate’s rebound resulted in fewer Ventura County home sellers losing money last year than in 1993.

Sales at a loss represented 52% of the county market last year, down from 61% the previous year. In 1992, sellers of just under 52% of the homes sold in the county accepted a lower price than they originally paid.

Ventura County’s large proportion of recently built houses probably was a factor in losses suffered by the county’s homeowners, Dataquick said in its report.

“Large, newly built homes that were bought during the 1989 sales surge have been particularly exposed, but the problem has spread into other categories as well,” said Donald L. Cohn, the service’s chief executive.

Home sales at a loss peaked in September and declined after that, Dataquick said. The statewide median loss was $23,000.