Rental Property Investor · San Diego, CA · Member since 2016 · 507 posts · 171 votes
So, I live in Oxnard, CA (Ventura County) and there has been a huge spike in crime this year. Since Jan 1, there have been 9 shooting homicides (pretty much all gang related), 15+ shootings (most appear to be gang related from initial investigations), and a bunch of car thefts (had a recent one month stretch that had 25 thefts).
I'm sure this will affect the local market a but as potential buyers would see this and be turned off right? Are there any VC investors that can shed some light on this from their experience. Other investors from different areas are welcomed to share their experiences too if they've had to deal with a local market like this.
Would this trend (unsure if it's short term or long term) cause lots of people to sell quickly just to get out?
Would that open opportunities to acquire property for below retail?
Is it even worth looking for properties in this city?
IMHO, I doubt the info you provided will have any effect on the local market. I would question how many people are even aware of the numbers you provided. I've lived here since 2001 and i couldn't tell you anything about what the crime rate has been year-to-year, and i doubt many other people could either. My guess is that most of the crime you've reported (especially the shootings), are in the areas that are already known to be not the greatest. I could be wrong, but i wouldn't hold my breath waiting for people to sell quickly and leave because of this.
Rental Property Investor · San Diego, CA · Member since 2016 · 507 posts · 171 votes
9y
@Cornelius Charles One homicide happened right outside of my place (Corner of Vineyard and Oxnard near the collections) and rest has happened a few blocks south from there. Definitely in the known trouble areas.
I am part of a few Oxnard community Facebook pages because I like to keep track of whats going on in the neighborhood. Because of the recent uptick in crime, there has a been an increase in raids conducted by OPD, CHP, FBI, and ICE. Just the other night they hit several locations at once. From what I see in the groups, the community definitely is taking notice to the huge spike in crime this year.
I don't plan on leaving anytime soon because of my job but am trying to make a decision on whether to buy investment property here. My intentions is to one day transfer down to San Diego and stay there.