Home Sellers

Top 5 Upgrades Simi Valley Home Buyers look for in a Purchase

April 7, 2012 By Ted Mackel 1 Comment

Simi Valley home owners considering selling their home who would like to know what upgrades will make the difference when it comes time to sell, should look at the following list to understand what kind of competition they may be up against in the market place. Home owners not looking to sell, but who are trying to figure out where to put their money should look at the following list as a good place to start:

1. Upgraded Kitchen – This tops the list. Don’t start anywhere else in your house before you tackle the kitchen. The home remodeling channels, cooking channels, and the numerous infomercials for kitchen products are enough indicators that the kitchen the focal point of any house. A full kitchen remodel can run from $15,000 to $100,000 depending on the size and what people desire. If you have the ability to do work yourself and hire subcontractors then the saving can be huge. Buyer will know the difference between new cabinets and old cabinets dressed up with new doors and paint. Old outdated tile, vinyl flooring and old appliances can make the entire house feel tired and detract form other updates that may have been done.

2. Master Bathroom – This is where the new home owner is going to spend their mornings getting ready for the day and at night getting ready for bed. Before putting money into a hall bathroom or guest bathroom, the master comes first. As little as $5,000 can go a long way.

3. Windows – Simi Valley has plenty of homes built in the 1970s and 1960s with single pane aluminum framed windows. Old windows shout loudly to potential home buyers that your home is going to be expensive to keep warm in the winter and cool in the summer. Simi Valley can get windy and older windows also allow plenty of dust in your home in the high winds. A standard bedroom window, vinyl-dual pane with low-E glazing from Home Depot can run as low as $400 for a retrofit window. There are a ton of do it yourself videos on Youtube that show how the retrofit windows are measured, ordered and installed that you might be able to handle a window upgrade on your own.

4. Heating and Air Conditioning System – Much like the problem with old windows in Simi Valley the HVAC system on your home is important. AIR CONDITIONING is not optional. If you dont have it, you home is going to suffer in the market place, and when you finally do get an offer, it is going to be a big negotiating point with the potential buyer.

Why? If you have an old furnace, good luck finding a reputable HVAC contract that is willing to risk placing a new Air-conditioning system on an old inefficient furnace. The point really is that California has minimum energy standards and you may not be able to keep your old furnace. A complete system installed in Simi Valley for heating and air condition on a 1500 – 2000 square foot home is going to run around the $8000 range. An important issue to consider on homes built before 1980 is that the ducting system in the attic is most likely going to contain asbestos with will keep the the price of the system upgrade up around that $8000 price tag.

5. Roof – The majority of homes selling in the hast 3 years are in neighborhoods where composition shingle roofs dominate the material used. This style roof will last 20-30 years and some simple maintenance along the way can gain the longer lifespan. The ridge caps on this system will fail long before the field shingles. replacing the ridge caps will make the whole roof look better and help prolong the life of the field shingles. When you have the ridge caps replaces have your roofing contractor tune up the whole roofing system by resealing around all penetrations and spay painting vent pipes and roof vents with a matching color. One of the common problems I have run into with cement tile roofs with leaks is cracked tiles and failing underlayment. A roofing contractor can remove the tiles carefully and replace the underlayment paper. IMPRORTANT NOTICE: Anytime you have your roof replaced or in the case of replacing the underlayment in a tile roof replace any wood damaged by dryrot, insects and/or termites – it will be less costly in the long run. If you think you have termites, get a termite company out for treatment.

Look for my follow-up article “The difference between upgrades and a remodel” comming soon

Filed Under: Buyers, Home Improvement, Money matters, Sellers Tagged With: Home Buyers, Home Sellers, remodel, Simi Valley, upgrades

The Appraisal Bottleneck Adding a Twist to our Current Simi Valley Real Estate Market

April 5, 2012 By Ted Mackel 1 Comment

Housing inventory has plummeted to 1.75 to 2.25 months supply for Simi Valley. This super tight market condition has real estate agents excited, home sellers excited and is creating stressed out buyers. While sellers have become more reluctant to put their homes on the market over the last couple months; the same pool of buyers during this time frame, having fewer homes to choose from, are not ready to drive prices up and the Appraisal Value is one of the key reasons that will keep this rally in check.

Simi Valley saw in the market run up between 2000 and 2007, Appraisals that were brought in over value all the time; so much that part of the responsibility of the meltdown was related to those jacked-up appraisals. Dodd-Frank reigned in the appraisers and in some cases went too far, but as indicated by Well’s Fargo’s 2012 outlook on housing, with 2 million homes in serious default and with the large amount of homes sold as short sales, underwriting guidelines for purchase loans will single out any attempt to jack-up prices with appraisals again.

Another factor for the Simi Valley housing market is that we have seen on average a 10% (even more in some tracts) decline in selling price over the last year and those declines were continuing in to February of this year. The same Wells Fargo report is projects an addition 6% decline in pricing for 2012. Since that is an over all average for the country we need to remember markets are local and sometimes hyper-local. Could we see some bounce up in pricing for Simi Valley home sales in April and May? It is likely, but more likely for homes in top condition. Homes with deferred maintenance and lacking core components will continue to significantly lag their updated and upgraded counter parts. Long gone are the days where (as in 2005) buyers ignored significant issues and competed for average homes in bidding wars.

Sellers facing the current market conditions, trying to get the highest price possible for their home, now face a tougher appraisal process and more cautious buyers. Home Sellers trying to get a handle on an appraisal value for their home should consider the following:

1. Sites like Zillow and Trulia cannot give you an accurate value, the algorithms that are used to create their estimated values are limited by many factors that will make an accurate assessment difficult. These values can be a starting point, but only an appraisal attached to a purchase contract will give a justifiable value.

2. Draw a one mile radius around your home. That is the limit. Homes in that radius are going to be used as the bench mark for your home.

3. Age, Size, Bedrooms and Baths – An appraiser cannot skip over a comp. If your home is 3 bedrooms, 40 years old and 1500 square feet and there are 15 closed sales in your one mile radius with similar characteristics, the appraiser cannot skip over those, pick a 4 bedroom and adjust your home value.

4. 90 days may be as far as the underwriter will allow the appraiser to go out for closed sales. That number in the past was 6 months and in some cases may still be 4 months, but again if there are enough homes with similar characteristics in the one mile radius the appraiser is going to use the most recent sales and older comps are given less weight in determining value.

5. Your home may have upgrades. Your home may be the nicest in the tract, but increases for those upgrades are not granted liberally by appraisers and the value will certainly not be moved up by the replacement value. You will receive a favorable appraisal compared to the surrounding homes, but not an unrealistic appraisal.

A tight inventory tilts the advantage in negotiations to the Seller, but the Appraisal process is going to be the bottleneck on any properties with multiple offers. Sure we will see a few properties where the buyer will bring in additional money over the appraised value, but as we are seeing in the majority of these multiple offers buyers are responding to counter offers cautiously.

Filed Under: Buyers, Sellers Tagged With: appraisals, appraisers, comp, Home Buyers, Home Sellers, Simi Valley, Trulia, Zillow

Who pays for What? Simi Valley Home Buyers & Home Sellers want to know

August 11, 2011 By Ted Mackel Leave a Comment

What is customary for a buyer and seller varies from state to state and in some states like California what is customary for buyers and sellers in Southern California may be different than in Northern California. The following list is what is generally customary for Home Buyers and Sellers in the Simi Valley and Southern California area on purchases, not involving distressed properties (i.e. Short Sales and Foreclosures/Bank Owned):

The SELLER can GENERALLY be expected to pay:

Real Estate Commissions
Document preparation fee for deed
Documentary transfer Tax (deed tax stamps), if any
Pay off all loans in Seller’s name
Interest accrued to lender being paid off
Statement fees, re-conveyance fees and any prepayment penalties
Termite inspection (or according to contract)
Termite work (or according to contract)
Home warranty (or according to contract)
Any judgments, tax liens, etc., against the seller
Tax proration (for any taxes unpaid at the time of transfer title)
Unpaid homeowner’s dues
Recording charges to clear all document of record against the seller
Any bonds or assessments (or according to contract)
Any and all delinquent taxes
Natural Hazards Disclosure
Seller notary fees
Escrow fee (one half)
Repairs on deferred maintenance (if agreed to or according to contract)
Title insurance premium for owners policy
Homeowners Association transfer fee and documents fee
City transfer/conveyance tax (or recording contract)
Mandatory Government Compliance issues (i.e. Smoke detectors, Carbon-monoxide detector, water heater bracing, etc.)

The BUYER can GENERALLY be expected to pay:

Title insurance premium for lenders policy
Escrow fee (one half)
Document preparation (if applicable)
Buyer notary fees
Recording charges for all documents in buyers name
Tax proration (from date of acquisition)
Appraisal
Cost to run Credit Scores
All new loan charges (except those required by lender for seller to pay)
Interest Buy-down points (or according to contract)
Interest on new loan from date of funding to 30 days prior to first payment date
Assumptions/change of records fees for takeover of existing loan beneficiary statement fee for assumption of existing loan inspection fees (roofing, property inspection, sewer, pool, geological, etc.)
Buyer insurance premium for first year

Filed Under: Buyers, Sellers Tagged With: California, Escrow, Foreclosures, Home Buyers, Home Sellers, short sales, Simi Valley, title

Simi Valley July 2011 Home Sales Surge on Volume Average Sale Price drops $57k

August 4, 2011 By Ted Mackel 1 Comment

See Simi Valley Homes For Sale under $300,000

The Simi Valley Real Estate Market is in the middle of a very interesting transition and while the traditional media and my industry tend to create reports that either cheer-lead or sell subscriptions; it would be prudent to really look at what has happened in July and a trend that started back in December of last year.

Sales of Simi Valley Single Family detached housing under $300,000 has been growing in volume. Now, more than any other time since the bottom fell out of the real estate market in 2007, we are seeing prices drop and affordability rise with continued low interest rates. In the Spring of 2009 we saw similar pricing, but investors rushed in and pushed pricing in this segment back up to the low $300,000 range.

What becomes even more interesting this time around is that of the 19 Simi Valley homes that sold under $300,000 in July 2011, 60% were purchased with conventional financing or cash with an average price of $278,000. Cash and conventional purchasers can be attributed to increased activity by investors looking for rental properties and properties in poor condition that could be restored and flipped.

What is causing Volumes to Surge?

1. Prices/affordability 2. Low interest rates.

What is not happening on surging volumes?

Prices are not being run up. Looking at Simi Valley Home Sales for July 2011 we can see that 84% of all sales were under $500,000 and that the top end over $900,000 had no sales for the month. Sluggish sales over $500,000 contributes to the lower average sale price.

Tracking the average sale price does not necessarily mean that Simi Valley Home Owners have lost $57,000 in value, what it does indicate, is when you compare the average sale price each month over the course of time you can spot trends over the whole spectrum of price ranges, any major shifts between months as we are seeing between June (Simi Valley June Market Report) and July, helps us to look close at what is selling, who is buying and what are the conditions that are driving these sales.

Real Estate Markets are local, traditional media tends to report regional and statewide Real Estate trends, which you can see don’t amount to much when we look at the activity for Simi Valley.

The local, State and Federal economic issues, $4.00 a gallon gasoline, employment opportunities have a huge influence on home buyers. Additionally, the Foreclosure market, Short Sale Market and Loan Modification Market are still in the middle of their mountain of problems.

What is becoming clear from my experience with buyers in my car and looking at the trending data; buyers are very interested when pricing and condition are right, but they are unwilling to jack up the pricing (above market value) in bidding wars.

While this all may sound horrific to home sellers, this is all part or a greater stability that is forming. Increasing volumes on lower prices is positive, what we don’t want to see is decreasing volumes and lower prices.

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

Asking for Closing Costs Could Cause Home Buyers To Over Pay For Their Purchase

July 1, 2011 By Ted Mackel 1 Comment

Home Buyers many times ask Home Sellers for concessions or assistance when they make an offer to purchase a home. The typical request from a home buyer is for closing costs, a home warranty, repairs or for the seller to include certain personal property items for sale. This article will focus on closing cost requests from home buyers.

The following information pertains to California real estate only. Real estate settlement and closing procedures vary from state to state, so if you are looking for information for real estate transactions in a state other than California, the information below may not apply to your situation.

As the Simi Valley housing market has lost value and sales have slowed, the requirements for buyers to get financing has become difficult at the same time. The Simi Valley real estate market has seen the most activity in homes selling under $450,000. The buyers in this price range typically have low down payment offers and do not have significant reserves or savings. The FHA loan program allows those buyers with limited resources to purchase homes with as little as 3 1/2% down. For Simi Valley this translates into approximately $8000-$15,000 minimum down payment needs; the FHA program helps these buyers get into homes.

Looking at Simi Valley homes selling for under $450,000, the typical closing costs associated with those home purchases can range in the $8000-$10,000 range. It has been a pretty common practice for buyers to write an offer asking the seller to concede up to 3% of the sale price to assist the buyer with these closing costs. While not all sellers have the ability to make this concession, the buyers will add this figure on top of their offer price so the seller will realize a net sales price closer to what is acceptable to the seller.

In 2010 the federal government changed the Good Faith Estimate (GFE) and tightened down regulations on this form to protect buyers from overpaying fees associated with obtaining financing. Once the buyer’s lender issues the GFE, the lender is bound by those numbers and has very few options to increase any of the figures on that statement. The 2010 GFE does allow for some minor adjustments, but overall the buyer can feel pretty good about the actual closing costs associated with their purchase and loan after receiving this document. These new regulations with the GFE have created an issue in how buyers should ask for a closing cost credits from the sellers. If these credits are asked for without consideration of the new GFE requirements, the buyer can end up paying more for the property than they intended.

For example,

The buyer asks for $10,000 credit toward closing costs in their offer to the seller.
The seller is clear that they would like to receive no less than $400,000 for their property.
The buyer’s offer is for $410,000 with the seller crediting back $10,000 toward the buyer’s closing costs.
The seller accepts the offer and escrow is opened.
The buyer now makes loan application with their lender.
A GFE statement is issued within three days of the loan application outlining all the buyers costs.
Those buyer costs total $8,000.
The seller’s obligation is only $8,000 and the $2,000 difference is now realized by the seller in a net sale price of $402,000.
The buyer just overpaid $2,000 more for the property than they originally intended to.

The example above outlines one of the problems Simi Valley home buyers may encounter when asking for closing costs to be credited by the sellers.

Some might say, ” when the buyer makes loan application, shouldn’t the lender set all the fees on the GFE statement to equal the $10,000?” The 2010 GFE was designed to outline and identify the costs to obtain financing, so buyers could go out and compare the costs between different lenders. How would it be to the lender’s advantage to inflate the costs and fees; just to try and burn up a concession/credit from the seller? Also, why would anyone want to pay more for property or pay more for costs than they need to?

If you are a buyer who is considering asking for a seller concession in closing cost assistance, understand the ramifications of such requests. If reserves/savings are one of the driving issues into asking for this type of seller concession that is one thing, but if you are asking for the seller concession while you have the money to pay for these closing costs, consider the following:

Your property will be assessed for property taxes in the amount of the sales price. Is increasing the sales price worth paying additional property taxes over the course of time you own the property?
By offering more than the original listing price to cover your closing costs, remember you will be paying interest on the higher purchase loan amount for next 30 years (if your loan is amortized on a 30 year schedule). I’ve always felt that home buyers should deeply reconsider (if possible) financing closing costs for 30 years. It’s does not make much since to pay interests on fees, since the first 20 years of the 30 year amortization schedule is weighted toward paying down the interest on the note.

Last, if you’re reading this article and you end up educating and instructing your real estate agent on these issues, ask yourself how well you’re being represented by an agent who’s not aware of these issues. If your real estate agent is not aware of issues as important as the impact of closing costs on your pocketbook during negotiations of your home purchase; then what else are they unaware of that may leave your money on the table or put you at a disadvantage in negotiations?

My sellers will gladly accept the additional funds if your closing costs are overstated in your original offer. Wouldn’t you feel better if you had an agent representing you trying as hard as they can to make sure you’re not leaving money on the table? Call or text (805) 432-7705

Filed Under: Buyers Tagged With: closing costs, Home Buyers, Home Sellers, homes, Market, real estate, Simi Valley

5 keys to finding a good Real Estate Agent & Negotiating a Commission

May 31, 2011 By Ted Mackel 3 Comments

Every once a while my phone rings and I am asked, “ how much do you charge?” There are a few things that remain constant with this type of incoming call for my services. First, the people who usually call with this question are in the very early stages of research as to which is the best way to sell their home. Second, people trying to figure out what it is going to cost to sell their home.

Unfortunately such a simple question could end up costing the potential home seller more money than save them with the simple answer. I have no problem explaining to anyone, rates for my services, however very few want to know the details of my fee structure and the services rendered. If a home seller is rate shopping, it seems natural to me that the seller would want to know what they are paying for?

Real Estate Commissions

It’s easy to shop for the cheapest rates on any service or product. I do it all the time myself when making major purchase decisions. I have been doing online research for my major purchase decisions for more than 12 years. I know where to look, I have a good idea on who I can trust by their web presence and online reputation, but then again I’ve been doing this for over 12 years; shopping online is something I am very comfortable with. I take many things in to consideration, not just price.

The real estate business is little more complex than just calling a dozen people and asking for their rate schedule. Experience, expertise, production and track record will vary significantly between real estate agents. Commission sales has a number of predictable traits. One of those traits is the 90-10 rule meaning 90% of all real estate sales are done by 10% of the real estate agents in any given market.

If you are one of those potential home sellers shopping commission rates, how do you know if you are calling agents who are part of the 10%?

The average sale price of a single-family detached home in Simi Valley in the last 12 months has been approximately $460,000. In looking at the multiple listing service, the majority of commissions vary in the 5% to 6% range. Using the average sales price, negotiating 1/2% off a commission rate would save a seller approximately $2,300.

Understanding the 90-10 rule, is it worth $2,300 to end up with a sub par salesperson? There is a very good reason why 10% of the agents do 90% of the business. What may seem like a $2,300 savings in commission could result lower sales price due to poor negotiating skills or even worse, an agent who misses a costly item on a contract because they have not closed a transaction in a while.

Are all Real Estate Agents Equal? No and here are interview question you will want to ask other than “how much do you charge?”

How do you rank in your office in production?
What percentage of your sales are as the Listing Agent or the Buyer’s Agent?
What kind of transactions did you close in the last 12 months?
Do you work alone or do you have help?
Are you a member of any local organizations or civic committees?
How are you involved in the real estate community?

If your property is a candidate for a Short Sale ask the following questions:

How many Short Sales have you listed and closed escrow?
How many have not sold?
Do you work alone?
Do you use a negotiator?
Have you represented Buyers in a Short Sale?
Have you successfully closed escrows with those buyers?

The 5 keys to finding a good salesperson and negotiating a commission for both the Seller and the salesperson are rooted in the answers to the above questions. As a home seller you want to know that the salesperson you hire is

In practice, regularly working with buyers and sellers.
Has recent practical experience with all disclosures, forms and the different types of sales.
Can handle additional work load and is surrounded with the proper support to do so.
Has built a positive reputation in their industry and community.
Has a track record of successfully closing transactions.

If you are a home seller shopping for a commission, you can make the calls, ask questions that will help you qualify the salespeople you do call and more importantly set face to face interviews.

Last and more importantly for this day an age, “Google” the names of the real estate agents you plan to call.

If the Google search results show few matches and few results, you can move on to the next phone number. If the Agent can’t manage their own online exposure, how do you expect them to handle the online exposure for the sale of your home?

Research after research, after research shows that buyers spend months looking at houses on line before they make a decision to purchase. Salespeople that are difficult to find on Google may indicate that those salespeople are not in-touch with how buyers are looking for properties these days. Salespeople in real estate that are difficult to find online will probably be even harder to find offline.

Happy commission hunting, just make sure you don’t end up with a secret agent.

Filed Under: homes for sale, Sellers Tagged With: commission, Home Sellers, Short Sale, Simi Valley

Simi Valley Home Sales Report for November 2010

December 15, 2010 By Ted Mackel 3 Comments

Simi Valley home sales trends for November 2010 continued to match patterns we’ve seen over the last year. Volumes, pricing and most other factors remain unchanged month over month. While this stability is a good sign for the Simi Valley real estate market, most are still uneasy about future outlook of home sales.

Interest rates below 5% coupled with rates hitting their lowest point in November have not created any new stimulus for the Simi Valley real estate market. Looking at the Sales Volume chart below, you can see that over the past five years November has had a very common pattern except for 2007.

The bulk of the activity in Simi Valley home sales still remains in the under 500,000 price range while homes above this price point fluctuate, the luxury markets are still selling at a very slow pace. Distressed properties including short sales and foreclosures are still negatively impacting the market and will continue throughout 2011.

Current market conditions are still favorable for qualified Simi Valley home buyers as low interest rates and average home pricing afford good opportunity. Looking at the Average Sale Price Graph below shows that average pricing seems to be holding steady without any major swings. Much if this is related to the low interest rates and the rental payment comparison. Renters looking to buy over the last few years are looking to keep monthly mortgage payments near what they would pay for rent and have been unwilling to enter the market without out a bid up mentality just because rates are the lowest we have seen in a long time.

Purchases made in this market are a long term position. Until the employment picture both on the State, Local and national levels recover overall home pricing and the Simi Valley real estate market will react on a similar pace as we have seen over the last couple years.

Filed Under: Buyers, Market Updates, Sellers Tagged With: Home Buyers, Home Sellers, market. homes, real estate, Simi Valley, sold

Simi Valley Homes For Sale Market Report for April 2010

May 17, 2010 By Ted Mackel Leave a Comment

Simi Valley homes for sale for the month of April 2010 had a slight uptick. The gain in average sales price and the slight gain in the total number of Simi Valley homes sold, is largely related to the federal tax credit that expired April 30. Effects from the federal tax credit will be seen in the Home sales reported for May and June as part of the tax credit regulation required that Simi Valley home buyers have a property in escrow by April 30 but close their escrows by June 30.

Still looking at the charts below you can see that the action is in the lower end of the markets as this trend has continued over the last year. Even-though the tax credits have given us a little positive momentum there is still quite a bit of softness in home pricing throughout Simi Valley. A property I sold in May, in the Simi Valley Oakridge Estates, dropped below 2003 prices. Another property I am working on in the Madera Hills Tract would’ve had higher offers last fall than what we’ve been seeing this last week.

What has become significant in the Simi Valley market is the number of short sales occurring. Most of the listing calls I’m getting at this point are coming from people who need to short sell their property. While I work with plenty of equity sellers, short sales create their own drag on the overall market.

This is a Quick Graph of the Volume of Simi Valley Home Sales by Month since 2003 for single family detached homes. If you follow the chart you can see that the May, June and July figures all stay pretty close over the last couple years beginning after 2007. The news such as papers and TV reports on a much larger regional scale which lump the sales data for very large areas into one report. If you’re planning to buy or sell a home in Simi Valley, you need to know what’s going on in Simi Valley in order to come up with a strong strategy. Please bookmark or subscribe to this blog so you can see what is going on locally in Simi Valley.

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Thanks for reading Simi Valley’s Premiere Real Estate Blog!
Author – Ted Mackel Simi Valley Real Estate Agent – Keller Williams Realty
Ted Mackel is a top producer at Keller Williams Realty Simi Valley,
specializing in Simi Valley Real Estate
(805) 432-7705

Filed Under: Market Updates Tagged With: Home Buyers, Home Sellers, homes for sale, Market, Market Report, real estate, Short Sale, Simi Valley

Are Tax Credits Luring Simi Valley Home Buyers in a Cash for Clunkers Scheme?

April 11, 2010 By Ted Mackel Leave a Comment

Federal and California tax credits were created to lure home buyers into the market. Simi Valley home buyers have a small window of opportunity to take advantage of both tax credits and double-dip the system. The federal first-time home buyer tax credit of $8000 is set to expire April 30. More specifically, home buyers qualify for this program will need to have a house under contract by April 30, 2010. They will need to have escrow close prior to June 30, 2010. At the same time, starting May 1, 2010 any escrows closing prior to June 30 will qualify for the California first-time home buyer tax credit of $10,000. While this credit is good through December 31st, 2010. The opportunity to double dip the system needs take place before June 30.

My main concern with these home buyer tax credit programs is that Simi Valley home buyers (especially low down payment buyers) will rush to purchase a house and end up chasing a tax credit cash for a clunker. Many of the properties for sale in Simi Valley currently are short sales and foreclosures. These properties typically have significant amounts of deferred maintenance and repair issues. Many times the repairs needed to restore these properties will far exceed any monies gained in tax credits. Keep in mind, at the California tax credit is spread out over three years and not given all at once.

My second concern is that these tax credits are really not creating any additional interest in the market. In fact Simi Valley home sales volume and average home prices have dropped every month since December 2009. I believe that the attractive affordability and low interest rates are driving the market currently and that sales would not suffer much if at all if the tax credits were to go away.

Those Simi Valley home buyers concerned that they may be missing a market can step back, relax and breathe a sigh of relief as the market is certainly near or at the bottom and will be for a long time before the market breaks through and start pushing out to a real recovery.

If you are a Simi Valley home buyer there is limited time to be able take advantage of the double-dip but don’t get caught up in a frenzy and end up with a property that will cost far more to fix up and what you will gain tax credit.

If you are a Simi Valley home seller, if your home is been on the market for a while and has not received any offers, now is the time to review your pricing strategies compared to other homes on the market that compete with your home and the homes that have sold in the last 120 days that compete with your home and adjust your pricing to bring a buyer before April 30.

Thanks for reading Simi Valley’s Premiere Real Estate Blog!

Author – Ted Mackel Simi Valley Real Estate Agent – Keller Williams Realty

Ted Mackel is a top producer at Keller Williams Realty Simi Valley,

specializing in Simi Valley Real Estate

(805) 432-7705

Filed Under: Market Updates Tagged With: California, Cash for Clunkers, Federal, Home Buyers, Home Sellers, Simi Valley, Tax credit

(video) Simi Valley Home Sellers – This is a “Goodbye Market”

February 28, 2010 By Ted Mackel Leave a Comment

Simi Valley Home Sellers – Gary Keller Author of Shift say this is a “Goodbye Market”

ABC’s Good Moring America produced this piece to help Homes Sellers better understand the challenges selling a home in this market. The key message coming out of this, is that homes not only need to be priced right, but they need to staged and readied for market.

I have written a few articles on this subject:

Gary Keller Founder of Keller Williams Realty. HQ operating out of Austin Texas with Locations in the United States and Canada. Despite the recent challenges to the real estate market Keller Williams Realty is Debt Free and in 2009 profit shared over 32 million dollars with it’s agents. Keller Williams quietly sites behind RE/MAX., Coldwell Banker and Century 21 in agent counts presently. All three competitors lost agents in 2009 while Keller William Gained agents. If the current trend continues at the same rates then by the end of 2010 Keller Williams surpass all three companies.

Filed Under: Real Estate News, Sellers Tagged With: Home Improvement, Home Sellers, Simi Valley, Staging