2011

Simi Valley November 2011 Home Sales Report

December 11, 2011 By Ted Mackel Leave a Comment

The year is wrapping up. Simi Valley Home Sales or should I say the number of homes sold for the year are improving. Prices many not have improved, but the increase in volume is always good for housing. The questions for Simi Valley are who is buying and what is selling?

The trend continues with homes under $450,000 commanding the largest sector selling in this market. Approximately 33% of those homes are selling with low down payment or FHA financing with the balance going to Cash and conventional Financed buyers. At Simi Valley open houses, I am running into many people looking to pick up their first rental property or additional rental properties. Additionally, with many buyers looking to keep the home they are in as a rental and making the move up purchase on the second home. These buyers are out in larger numbers because they understand money is cheap at the current interest rates and pricing is at it’s most aggressive point it has been at in the last few years with more single family detached Simi Valley homes selling below $300,000 than in any other year since the market collapsed. If you follow the monthly postings here on my blog, you can see the trends in the activity.

Filed Under: Market Updates Tagged With: homes for sale, real estate, Simi Valley

Simi Valley Library City Control or County Control Shakes Up The Community

November 22, 2011 By Ted Mackel Leave a Comment

As local governments face the difficulty of budgeting with reduced revenues, County and State agencies are threatening to take money from city coffers; it’s no surprise that local government is scrutinizing all services offered to their communities. I have really stayed away from the issue surrounding the future control of the Simi Valley Library as it is not a hot button topic for me. However, I was sitting at the city council meeting tonight waiting to speak on the agenda item for City Council Compensation and had to endure a couple hours of comments from the public on the Library issue.

As a person without a a big attachment to the issue, several things became very apparent. Most the people there were spewing misinformation left, right and center. Continually those that supported the County control of the Library kept accusing the city of trying to “Privatize” the Library. The City plan was to take the control of the Library away from the County and contract out to run the Library under the control of the city. The city plan could include contracting with the County to provide the employees, an outside company to provide employees or the city to hire the employees directly. Comments alluded to the City of Simi Valley saving close to 1.2 million dollars annually that could be redirected back into the Library to buy new books and add additional programs.

Proponents of County control argued that a country run program is better in that books can be shared between the various county controlled libraries and that the library system is strong unified under County control. They were also concerned that the a City control library would not be able to properly serve the community, that book selection would be limited, programs would be limited or cut.

One thing that was very clear is all present love the Simi Valley Public Library; the difference was in how it should be managed. I am a local control guy. I think it is obvious with the actions of the Governor last June, that his taking away redevelopment funds away from all California cities for the sate budget is an indicator local control is is not longer and option but a necessity. Imagine if the county ran into funding problems for the county wide library system in the future, who is going to step up to the plate to solve that problem. I believe the City of Simi Valley has been forced into a defensive position to protect and preserve the Public Library and after watching the discussion I have to side with Mayor Huber and the City Council for taking on this issue.

Filed Under: Simi Valley News Tagged With: Library, Simi Valley

Auto Detailing vs Home Staging a NO BRAINER for Home Sellers

November 20, 2011 By Ted Mackel 1 Comment

(Simi Valley) – Consider that when people decide to sell their used car they will have no qualms in spending $200 on an auto detailing job. If the car they are selling has a $10,000.00 asking price, that is 2% of the asking price. Even digging down deeper, these same sellers will remove any personal affects from the car and make it look like it just rolled off the lot.

These very same people suddenly have a heart attack when you explain the benefits of having their home staged on the listing appointment. Consider a very basic staging for $650 on a home with a asking price of $650,000. Let’s see……….that’s one tenth of a percent of the asking price of the home. What gives? Recently I saw the tail end of Get it Sold on HGTV and here is a great example of the little things that can be done for very few dollars. Sabrina Soto is not coming over to my client’s and potential client’s home anytime soon, but there are stagers in my area that can accomplish the same affordable miracles that are seen on this program.

A home is probably the largest investment a family has. Thinking of that investment compared to the depreciating asset of a car they have, I am still scratching my head trying to figure out why there is such a disconnect when it comes time to prepare a home for sale……….especially in the market conditions we are experiencing now.

Recently I was working with a home seller who’s home was on the market and no offers had come in. Traffic was initially good and open houses picked up traffic, but failed to produce any buyers willing to submit an offer. With a home now being the lowest price in the neighborhood and still no offers being generated, it was time to bring in a Stager and evaluate the home. The evaluation with a written detailed report costs approximately $250.00. Well worth the investment for the following reasons:

The Stagers come in as a buyer and point out the good and bad points of the home from the buyer’s perspective.
The Seller has usually been in the property for many years, some simple issues to fix or items to put away may not be apparent.
The list of items to address can be addressed individually and even if the seller can accomplish the entire list some changes are sure to help the over all attractiveness of the house.

If the house is priced right and offers are not being generated, then something is distracting the buyers. Stepping back and letting a third party evaluate and give an opinion can be a painful process for the home seller. Pride of ownership and pride of the things home owners have done to the home can get in the way of objective criticism. If getting the home sold for the highest price is the objective, then why is it so easy prep and ready when it comes to selling a car vs selling a home?

If you need a referral to a good home stager please call (805) 432-7705

Filed Under: Sellers Tagged With: home, home staging, Seller, Simi Valley, stager

Simi Valley October 2011 Home Sales

November 14, 2011 By Ted Mackel Leave a Comment

October Single Family Detached Home Sales for Simi Valley did not react much different that September. Volume is up over 2010 and 2009. Homes under $400k are pulling the lion’s share of the activity and as interest rates drop into low 4′s and high 3′s buyers still remain cautious.

I mentioned last month the sluggish upper end of the market. If you have a home in the $900k to $999,999 price range, did you know that only 4, yes that is right FOUR homes have sold since January 1, 2011 in this price range for Simi Valley real estate? Currently there are 6 homes on the market in this price range and the last sale for the price range was in May. So, if you are listed in this range and wonder what is happening, wonder no more, even with attractive interest rates buyers for this range are not abundant at this time. At the same time, 10 Simi Valley homes have sold over 1 million with one of those being a custom spec house.

The ditressed market still is a major influencer on the overall market. RealtyTrac recently reported:

California default notices increased 17 percent from the previous month to a 13-month high, helping the state post the nation’s second highest foreclosure rate: one in every 243 housing units with a foreclosure filing in October. A total of 29,240 default notices were reported in California in October, a 1 percent increase from October 2010 — the first year-over-year increase in defaults in California since November 2009.

Even though other parts of the country are seeing some relief. However; Nevada, California, Florida and Arizona continue to battle through many struggling home owner’s loans with modification attempts, short sales and foreclosure.

Below is the 30 year interest rate chart for 30 year conforming loans. 2011 has continues to average with the lowest rates. It is no wonder that investors are out snapping up deals with money this cheap. The Blue line below should be a wake up call to those sitting on the sidelines. The distressed market is continuing to to keep prices in check.

Filed Under: Market Updates Tagged With: Foreclosures, Home Sales, interest rates, Loan modification, short sales, Simi Valley

29203 Village 29 Camarillo CA 93012 Leisure Village Home for Sale

November 7, 2011 By Ted Mackel Leave a Comment

(Video Tour) 29203 Village 29 Camarillo CA 93012 Leisure Village Home for Sale

Largest Model in Leisure Village with two car garage and fireplace. Located in Leisure Village’s Village 29, this home has been freshly painted, new flooring including tile in the entry and bathrooms. Brand new Stove/Oven, Microwave, dishwasher installed. 1 full horsepower Insinkerator garbage disposal. New toilets and faucets in the bathrooms. Rare Two car attached garage model with shelving and storage. Covered Patio with block wall screening. Double front door entry. Formal dining room. Formal Living Room. Family room off kitchen with Fireplace. Copper plumbing re-piped in June 2003. This home looks sharp call for a showing today. Below is a Video tour of the home and and Video tour of the Leisure Village Community.

Filed Under: homes for sale Tagged With: camarillo, home for sale, leisure village

Mourning Rose Manor Halloween Haunt – 365 Things do in Simi Valley

October 29, 2011 By Ted Mackel Leave a Comment

Looking for Things to do in Simi Valley for the Halloween Season? Mourning Rose Manor in East Simi Valley at 5250 Aurelia Street has been delighting Simi Valley Halloween fans for 6 years. Lydia and her husband have created a unique Halloween experience complete with Ghosts, Skeletons, Grave yard with Crypt, Spiders, Spooky Sounds and more. You can find out more at http://www.MourningRoseManor.com

Filed Under: 365 Things to do in Simi Valley, Sights to See Tagged With: halloween, haunted houses, mourning rose manor, Simi Valley, things to do

2848 Ivory Ave Simi Valley House For Sale

October 24, 2011 By Ted Mackel Leave a Comment

Thank you for visiting the information page for 2848 Ivory Ave Simi Valley, CA 93063. This home is located in the Gem Tract in Central Simi Valley north of the 118 freeway near Galena and Alamo. Please enjoy the Video Tour.

For MLS data on 2848 Ivory Ave

2848 Ivory Ave

4 Bedrooms

2 Bathrooms

Approximate Interior Square Feet 1,948

Approximate Lot Size 9,288 Square Feet

New Exterior Paint

Dual Pane Windows

Tile Roof

Kitchen

Dishwasher
Garbage Disposal
Range and Micorwave
Refrigerator
Granite counters
Breakfast Bar with Bar Stools

Living Room

Fireplace
Laminate Floors
Vaulted Ceilings
Plantation Shutters

Master Bedroom

Dressing Area
Double Closets
Double Sinks

Garage

Storage Cabinets on all walls
Laundry
Washer and Dryer included
Roll up Garage Door

For Simi Valley Real Estate and Homes for Sale

Filed Under: homes for sale, Simi Valley Tagged With: 4 bedrooms, gem tract, house for sale, real estate, Simi Valley

Simi Valley September 2011 Home Sales Volume at 2008 Levels

October 10, 2011 By Ted Mackel Leave a Comment

Do Simi Valley September Homes Sales show another false positive for the real estate market? In 2009 and 2010 September sales volume for single family detached homes tailed off after a 2008 rebound over a record low in 2007. Fast forward to today and low interest rates are enticing investors and home buyers to enter the market, however pricing is still flat. The market for homes below $400,00 is still leading the way with 53% of the sales for the month. 57% of those sales are dominated by Short Sales and Bank Owned homes. 25% of all the Simi Valley SFD homes sold were snapped up by all cash buyers and 40% with conventional financing. This high percentage of Cash and Conventional buyers shows that low interest rates combined with attractive pricing is bringing savvy real estate buyers to the table.

Pricing is in a low trough at this point and has remained in this trend for most of 2011. The mid to high $200k price point has solidified a low for Simi Valley Single Family Detached Housing and only dips below this range if the properties have significant damage. A recent article from CoreLogic^® (NYSE: CLGX) stated:

“Even with low interest rates, demand for houses remains muted. Home sales are down in September and the inventory of homes for sale remains elevated. Home prices are adjusting to correct for the supply-demand imbalance and we expect declines to continue through the winter. Distressed sales remain a significant share of homes that do sell and are driving home prices overall,” said Mark Fleming, chief economist for CoreLogic.“

What does this mean for housing above the $500k price point? Those homes have trended selling at 8%-10% below the original list price showing the the market absorption rate for these houses is still dictated by buyer mood. The homes between $400k to $500k experience on average only a 3%-4% drop in price from List to Sell.

We can take away the following five points

Low interest rates are bringing buyers out.
Buyers refuse to bid up pricing and remain patient.
Homes in well maintained condition are seeing short market times when price matches buyer sentiment.
Investors are out accumulating rental property.
Distressed property still make up over 50% of the inventory.

Filed Under: Market Updates Tagged With: Bank Owned, Buyers, homes, homes sales, investors, real estate, Sellers, Short Sale, Simi Valley

Video Marketing – The most neglected tool in the Real Estate Industry.

October 10, 2011 By Ted Mackel Leave a Comment

A recent report on Mashable.com on how the real estate industry is using social media reported that only 12% of Real Estate Agents have a Youtube Channel.

Going back to 2008 there was big push from the industry for Agents to purchase Flip camera; over that time Kodak has entered the Market with shirt pocket sized cameras and the emergence of the iPhone and it’s influence over video on smart phones has really made many wonder why the Real Estate Industry is so slow to adopting a Video Marketing Plan. I have been consistently been using Video in my Real Estate business since 2007, in 2003 I had a goal to video all my listing and host them online, but prior to Youtube, bandwidth and hosting was a problem, let alone people at home with computers and connections fast enough to deal with online video then.

Fast forward to today and the neglect is astonishing. The iPad and android devices have people looking for more intense visual experiences, The maturation of Youtube over the last few years has made Youtube a viable means to distribute content for a Real Estate Agent if done correctly. So why only 12%?

There is a learning curve – editing and basic equipment usage really can make a difference in the outcome of the final production quality of video. Many simply refuse to learn some new skills.

Low Self-Esteem – Yes the same people who put their name and image on everything they hand out are worried about how they will look and sound on video.

Too much work – It is simple enough to get a couple dozen photos, make a slide show and call it quits.

Most research shows that home buyers respond highly to online property information with multiple pictures. The research also shows that buyers want to see more pictures. This is where real estate Video can dovetail and provide a marketing edge over listing that only provide photos.

Video can highlight and explain special features of a seller property better than photos.
Video can show off the the nieghborhood and surrounding homes where photos cannot.
Video can educate potential buyers on the schools, shopping and parks in the community, where photos cannot.
Video on Youtube and other similar sites is very compatible with mobile playback and provides that extra edge in marketing that a slide show or still photos cannot.

So the question remains … Why would a home seller hire agents that don’t provide video home tours?

To see my Youtube Channel http://www.youtube.com/tedmackel

Filed Under: Sellers Tagged With: home tour, marketing, Sellers, Simi Valley, video

Simi Valley CA 93065 Homes For Sale

October 10, 2011 By Ted Mackel Leave a Comment

(Video Tour) If you are looking at Homes for Sale in Simi Valley, 2767 Licia Place could be your next home. A very well maintained 4 bedroom two and half bathroom home in Simi Valley’s Kingspark tract near Sycamore and Alamo is centrally located, has quick access to the 118 freeway and is close to shopping including Sycamore Plaza and the Simi Valley Town Center.