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The community contains two major new residential areas, Rancho Conejo Village (built on the site of the former Rancho Conejo Airport, where portions of the film It's a Mad, Mad, Mad, Mad World were filmed[4]) and Dos Vientos Ranch. Rancho Conejo Village is still being developed by S&S Homes, while the master planned community of Dos Vientos Ranch has approached build out. The first planned community in Newbury Park is census designated place Casa Conejo, located in a roughly square-shaped unincorporated area, is the only remaining part of Newbury Park not governed by the City of Thousand Oaks.
Real estate prices in Newbury Park have increased over 250% during the last ten years. Median home prices in the area and surrounding communities range from around $700,000 to $2.2 million in parts of the valley. Starting in 2006, real estate prices have started to drop due to the credit crunch affecting mortgage financing. As an example, a newer 2380 sq.ft. house in the gated Rancho Conejo community that sold for $880,000 in the summer of 2005 at the peak of the housing boom, would have fetched no more than $790,000 in the summer of 2007, and about $700,000 in mid March 2008.
The community is part of the City of Thousand Oaks, whose economy is based on a small range of businesses, with biotechnology, electronics, automotive, aerospace, telecommunications, healthcare, and financing occupying most of Thousand Oaks' employment sector. Amgen, Baxter International, General Dynamics Corporation, Jafra Cosmetics, J.D. Power and Associates, and Skyworks Solutions offer many high-tech jobs and have corporate headquarters in the city, while Countrywide, Verizon, Verizon Wireless, Volkswagen, Audi, General Motors, and WellPoint manage regional offices. The city was also the former home to the corporate offices of Wellpoint and GTE, which later became Verizon, which relocated in the last decade. As the city is usually considered a suburb, many residents also commute to neighboring Los Angeles. Although some of these businesses are not located in the Newbury Park section of the city, many of its residents are employed through these companies.
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