February 22, 2012

Simi Valley January 2012 Home Sales Report

After increased sales in December should we expect a carry over into the new year?  Probably not.  January closings for Simi Valley Single Family Detached (SFD) homes back off as I suspected.  This retraction does not indicate another drop in prices, but is more of the same of what we have seen over the last 6-8 months.

Not to sound like a broken record, but here is how January ended up:

  • The number of SFD Simi Valley homes under $300k remain elevated
  • Less than half of the SFD homes under $300k are purchased using low down payment financing
  • Investors/Landlords are still accumulating and looking for additional rental properties
  • Sales of Simi Valley Homes above $800k  are still sluggish
  • Buyers continue to try and time the market while the investors are out tying up properties with low interest financing and attractive selling prices.

The list to sell ratio has moved from a 3% average to almost 7% average over course of the last couple years.  This gap is wide enough to show that buyers are not bidding home prices up.  That any property listed for sale that is not competitive with the surrounding homes go through a course of price reductions till it meets buyer expectations.

January 2012 Simi Valley Home Sales

 

 

 

Simi Valley December 2011 Home Sales Report

This is the second year in a row that Simi Valley Home Sales Spiked in December.  Does this indicate a turn around in the Simi Valley housing Market?  Not necessarily and here are the reasons why.

  • December 2007 only 42 Single Family detached homes close escrow in one of the lowest volume months for Simi Valley home sales.
  • December 2008 only 66 Single Family detached homes close escrow in Simi Valley.
  • December 2009 = 98, December 2010 = 94 and December 2011 = 104

What happened, why the increase?  Not only has interest rates and pricing helped bring more closed escrows, but additionally the distressed market pushes to close out files before year end in the Short Sale and Foreclosure sectors.  With almost a quarter of the single family detached homes selling in December at a price point below $300,000  and 52% of all the sales for December either a Short Sale or Bank owned property, it’s too early to celebrate a recovery.

Simi Valley has certainly hit a low and has been setting a repeating trend over the last 6 months, but any sign of movement up or out of the current situation is not showing.  Looking at the entry level single family Simi Valley homes sold in December 2011,  the longer days on market and the lower list to sale price ratios show that buyers are still looking for bargains.

Simi Valley Home Sales December 2011 Chart

 

 

 

 

Simi Valley November 2011 Home Sales Report

Simi Valley Homes For Sale Long CanyonThe 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.

Simi Valley Home Sales Report for November 2011

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

Simi Valley City Hall SignAs 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.

Auto Detailing vs Home Staging a NO BRAINER for Home Sellers

(Simi Valley Real Estate Home Staging bedroom messSimi 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:

  1. The Stagers come in as a buyer and point out the good and bad points of the home from the buyer’s perspective.
  2. 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.
  3. 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.

simi valley home seller staging tipsIf 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

Simi Valley October 2011 Home Sales

Simi valley Real Estate homes for saleOctober 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.

simi valley homes sales october 2011

 

 

 

 

 

 

 

simi valley homes sales october 2011 by volume

 

 

 

 

 

 

 

 

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.

30 year interest rates monthly  average

29203 Village 29 Camarillo CA 93012 Leisure Village Home for Sale

29203 Village 29 Camarillo, CA 93012 Leisure Village(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.

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

Mourning Rose Manor Simi ValleyLooking 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

2848 Ivory Ave Simi Valley House For Sale

2848 ivory simi valley house for saleThank 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

2767 Licia Place Simi Valley CA 93065 Homes For Sale

Homes for sale 2767 Licia Place Simi Valley CA 93065(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.

Link to see MLS details for 2767 Licia Place including price and pictures

Property Information (Seller Provided)
Location – Neighborhood – Single Family Detached Style Homes

  • Cul-de-Sac (Peaceful Street)
  • Friendly Neighbors
  • Easy Freeway Access

Area Amenities

  • Near Local Hiking Trails and Bike Paths
  • approx. ¼ mile – Atherwood Elementary
  • approx. ¼ mile – Simi Adventist Hospital
  • approx. ¼ mile – Atherwood Park?
  • approx. ½ mile – Sycamore Square Shopping Center
  • approx. 1 mile – Simi Town Center (Mall)

Location – Savings

  • Not in Flood Plain (Saves on Insurance)
  • No HOA, No Mello roos

Updates and Upgrades

  • Solid Oak Front Door with Screened Side Door for Ventilation
  • Recessed Lighting
  • Ceiling Fans in every bedroom, kitchen and dining room
  • Freshly Painted New Crown Molding and Base Boards
  • Patio French Doors Screened Side Doors Open for Great Ventilation
  • Kitchen – Nicely Tiled Counter Tops, Cast Iron Sink & Tile Floors
  • Whole House Fan (1600 cfm) Quiet – Derived from Super Computer Technology
  • Mirrored Closet Slider Doors in the Bedrooms
  • Windows – Dual Pane, Argon Filled, Low-E Windows
  • Attic Fan Temp control -  On When Attic Temps Exceed 100°F

Master Bath (Remodeled Two Years ago)

  • Two Medicine Cabinets
  • Tile Flooring
  • Wall Mounted Face Mirror
  • Halogen Lights and Decorative Lights of Mirror
  • Grohe Faucets
  • Newly Tiled Shower w/ Rain Shower Head, Inset Soap Dish, Niche and Corner Step
  • Grohe Fixtures and Glass Doors

Hall Bathroom (Remodeled two years ago)

  • Dual Sink,
  • Three Door Medicine Cabinet
  • 32” Cast Iron Tub
  • Obscured Glass Shower Door
  • Ventilation and Halogen Light over Shower
  • Moen Fixtures
  • Inset Soap Dish
Laundry  Room and Half Bath off Kitchen

Exterior and other Features

  • 2 Car Garage with Roll up door.
  • Two Whirlybird Fans Installed on Back Roof
  • New “Ridge” Shingles
  • Motion Triggered Security Lights in Four Locations
  • Chimney and Whole House was re- Stucco-ed  in 2005
  • DirecTV Satellite, also Wired for Cable & ATT Uverse
  • Side Door to Laundry Room has Doggy Door
  • Rose Garden – 120 V for Fountain, etc.
  • Patio Cover and slab patio
  • Boston Ivy Covers Wall
  • Low Maintenance Shrubs
  • Side of Yard
  • Used as Vegetable Garden
  • Bushes, Electric Valves for Automatic Sprinklers and Hose Spigot
  • Side of House used as Dog Run
  • Drainage System (Not Pictured) From Backyard to Street
  • Outdoor Outlets on rear of house an switched outlet for front of house
  • Grapefruit Tree (Prolific – December)
  • Dwarf Lime Tree (Young)
  • Peach Tree (Prolific – May)
  • Plum (Non-fruiting)