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Sprucing up before Selling Exterior Painting Strategies for your Simi Valley Home

April 18, 2012 By Ted Mackel 1 Comment

Dry Rot and Termites Simi Valley Home Sellers

Dry rot under new paint

Getting ready to Sell your Home? First, I want to congratulate you for least considering strategies making your home more attractive to potential home buyers. You only get to make a first impression once and the exterior of your home is the first thing a potential buyer is going to see. So if you’re painting the exterior of your home, prior to putting on the market, here’s a tip that could save you money down the road.

A reputable painting contractor will not only give you a written estimate outlining the scope work; they should also alert you to any problem areas before painting. Any wood on the exterior of your home is more vulnerable to wood destroy organisms which could include fungi and or insects. Homes in Simi Valley California often see dry rot and/or termites.

If the painting contractor you hired comes across problem areas on the exterior of your home, you should consider hiring a termite company to come out, investigate and give a written report as to the extent of the problem areas. The termite companies are completely equipped to remove and replace damaged wood and treat with chemicals to eradicate any wood destroying organisms. Any damage wood should be replaced before your painting contractor begins painting.

When the time comes to sell your property, 99% of the time, the buyer will ask for the seller to provide a termite inspection report. Typically buyers will ask sellers to pay repair for any items listed under section 1 of the Wood Destroying Organisms Report. Home sales in the Simi Valley area see this as a customary request as this type of damage to a property is seen as a deferred maintenance item. Many sellers do not realize that if they refuse a termite inspection or termite repairs, the buyer can still bring in their own termite inspector during the investigation period and cancel the purchase under the general inspection contingencies if that report reveals enough treatment and repairs to scare away the buyer. Now the Seller has a material fact with this termite inspection and will need to disclose it to all future prospective buyers.

The reason why mentioned earlier that the damaged wood should be replaced before painting is, that termite inspectors are very critical of newly painted houses. They are concerned the prior damage may be hidden behind the new paint job. Any dry rot or damaged wood under new paint is easily ferreted out during the inspection.

Sprucing up your house for a good first impression is the right thing to do. Be proactive when it comes to any issues that may pop up while you’re improving curb appeal of your home. It will save you frustration and headaches when it comes time to negotiate with a home buyer.

Filed Under: Home Improvement, Sellers Tagged With: Buyer, fungi, home, inspection, inspector, report, Seller, Termite, wod destroying organisms

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

Ramifications on Real Estate in Divorce. Is it time to sell your Simi Valley home?

July 24, 2011 By Ted Mackel Leave a Comment

Divorce happens, not every marriage is successful and as a Simi Valley real estate agent I have been called to help divorcing couples sell what usually amounts to their largest asset in the marriage, their home. This is typically one of the more stressful events in a divorce as not only is the home a large monetary asset for both the husband and wife, but it is also very personal, as it was home to a family with many memories.

Simi Valley like most of the nation is trudging economic challenges, significant drop in housing values and employment challenges which has added additional stress on families and has contributed to increased divorce rates. The stress and emotions involved in divorce can create many challenges as couples move through the process. The division of real estate assets and the protection of that significant investment for both the husband and wife requires a seasoned real estate agent who can work to protect that investment and be flexible to work through the emotions and stress of a divorce environment. The bottom line is that many times in divorce, emotions are out of control, which undermines common sense and when common sense gets undermined, the monetary cost to the divorcing couple is significant and wasteful.

It would be nice to wave a wand so both parties in the divorce could work on the division of their real estate assets in a amicable manner, but since that does not always materialize, if you are in a divorce please remember that with less emotional reactions and the more you approach the sale of the real estate assets with common sense and a business like attitude, can protect and save money.

What are some of the plans of the divorcing couples with the real estate asset(s)? Well that depends on if the divorce is amicable or turbulent.

Does one spouse want to retain the home?
Try to retain the property while the children are in school and then selling the asset later?
Not happy with the market conditions and want to try to hold on to the house and sell it later for a larger profit?
Sell the real estate assets now?

One of the challenges of one spouse trying to retain the home is reaching an agreement on value. Sometimes an attitude of retribution will possess either the husband or wife in that they think by holding on to the house they can buy out the the other party at a discount and get a leg up in the divorce. This is a bad plan as the house will be appraised and possibly a few broker price opinions ordered to determine the value of the home.

Sometimes when children are involved and/or the real estate market is declining there is motivation to try and keep the house and sell it after the children are grown. If this will be 5 or more years, who is going to pay for the deferred maintenance that will occur. The house may need costly items, such as a roof, paint, etc. If the spouse retaining the home in this transitional period does not have the money to make these repairs, the plan to sell the home later for more money may backfire as the deferred maintenance items will negatively impact the value at sale time. When the property does sell later money used to maintain the house will probably need to be reimbursed which could cause more points of disagreement.

Financial Implications and Taxes

Unfortunately, divorce will cause both the husband and wife to make decisions that will not be easy. Selling the house should not turn into a contest to see who wins the trophy. The winner could put themselves in a tough financial position trying to keep the home.

Consider that there could be tax advantages to selling the property now. This is not tax advise, but rather questions think about and hopefully a prompt to push you to consult a qualified tax professional. Currently a married couple selling their primary residence may have up to a $500,000 exemption in capital gains value while an individual has only $250,000. Here’s the rub, and why you need to see a tax professional. If one spouse retains the property, then can the other can spouse claim the house as their primary residence while they are not living there? Does the spouse who moves out now turn their interest in the property to an investment interests which could hold larger tax implications?

Unpopular as it is, sale of the house as terms of the divorce will provide a solution that will bring closure to the situation. Replacement property can be found for either spouse to relocate to, while the standard of living, i.e. house size and neighborhood may not be the same, Simi Valley provides many great neighborhoods and getting re-established in Simi Valley will provide opportunity that may not be available in other communities.

If facing divorce and the value of the property is has dropped significantly, in that it there is not going to be enough money to pay off the debt against the house, take a step back form the scorched earth policy of trying to get back at the other spouse by letting the house go to foreclosure. Today the alternative of Short Sale will help both spouses get back on their feet quicker. I cannot emphasize enough, don’t let the stress and emotions get the better of your common sense. You are making a break, make it with the smallest amount of collateral damage, selling now can be achieved if you have equity and even if you do not (with a Short Sale to avoid foreclosure).

How to choose a Realtor

This is where things can get tough. Ladies, you probably have friends that are in the business, getting your husband to agree to using one of your friends is going to be as likely as you allowing your husband to use one of his buddies. Selling your house in divorce is not about having a person to complaint to about your spouse. You need a professional that is going to work to get you home sold for the highest price possible and be able to facilitate and protect the interests of both husband an wife through the process. Document execution and disclosure needs to coordinated and monitored in a timely manner as to not affect a buyer’s ability to conduct investigations or complete their loan process. Many times the husband and wife will not agree on negotiating terms with the buyer which takes extra skill to work out the differences for a successful sale. You will need an experienced, skilled practitioner, especially in this market with Short Sales common in divorce situations.

Marketing your home is a topic in itself, but the ability for the Realtor to remain calm in the middle of divorce negotiations is not a skill possessed all.

Filed Under: Buyers, Sellers Tagged With: Broker Price Opinion, Buyer, divorce, home, real estate, Realtor, Seller, Simi Valley

Simi Valley First-Time Homebuyer Assistance Program

July 22, 2011 By Ted Mackel Leave a Comment

Simi Valley First-Time Homebuyer Program

The City of Simi Valley offers a First-Time Homebuyer Assistance Program to qualified low-income first-time homebuyers who wish to purchase their first home in Simi Valley. The property may be a detached or an attached single-family home, a condominium, or a townhome. The Program is available to those who have not owned a home in the last three years. Single parents who owned a home while married and displaced homemakers may qualify even if they owned a home in the previous three years. Following is a brief summary of the Program:

The Simi Valley Program offers low-income housholds a deferred payment second trust deed loan (no monthly payments required) up to $50,000 per bedroom, not to exceed $200,000.
Restrictive Covenants (Resale Restrictions) will be recorded against each property upon the initial purchase and shall restrict the resale of the unit at a price-affordable to low-income first- time homebuyers for 55 years. The 2nd trust deed loan will be assumed by an eligible low-income first time homebuyer throughout the 55-year term of affordability.
Applicants with an average FICO score of 700 or higher will be required to provide a minimum of 3% down payment. Applicants with an average score between 600 and 700 will be required to provide a 5% down payment. Buyers with additional cash assets in excess of $10,000 will be required to use such assets towards down payment and closing costs.
Applicants with an average FICO score below 600 or who have had a bankruptcy within the past four years are not eligible to participate in the Program.
Gift letters are acceptable in meeting up to one half of the minimum down payment requirement as long as there are no repayment terms. A minimum of one half of the required down payment must come from the applicant’s personal assets.
The household’s projected annual gross income (income before taxes) cannot exceed the folllowing limits:

Number of Persons in Household	Low-Income Limits
1	$49,850
2	$57,000
3	$64,100
4	$71,200
5	$76,900
6	$82,600

The above limits apply to the income of all members of the household 18 years of age or older. The income limits are based on figures published by the U.S. Department of Housing and Urban Development (HUD).

Simi Valley’s Program eligibility will be based on total household income, a housing cost ratio not to exceed 35%, and a debt-to-income ratio not to exceed 45%. Housing costs include principal and interest, property taxes and insurance, private mortgage insurance, homeowner association dues, if any, and a utility allowance. Ratios are determined by dividing monthly housing and long-term installment expenses by the gross monthly income.
The primary loan must be a fully amortized loan provided by a bank, savings and loan, mortgage banker or other institutional lender. The City will not allow balloon payments or stated income loans.
Buyers must occupy the unit as their primary residence.
A portion of the proposed $50,000 per bedroom subsidy may be used for necessary repairs to bring the property into compliance with the City’s Housing Quality Standards (HQS). A third trust deed for a home rehabilitation loan will be recorded after the close of escrow to address repairs identified. The maximum $50,000 per bedroom subsidy will not be exceeded since the City’s second will be reduced by the amount of the rehabilitation loan.

The maximum home price and City subsidy limits appear below:

Bedroom Size	Maximum Market Purchase Price	Per Bedroom Subsidy Limits	Maximum Affordable Sales Price
1	$206,700	$50,000	$156,700
2	$280,950	$100,000	$180,950
3	$349,300	$150,000	$199,300
4	$418,600	$200,000	$218,600

Maximum home price limits are subject to change when new Income Limits for Ventura County are published each year. Please note that the City’s per bedroom subsidy will at no time write down the property to an amount lower than the maximum affordable sale’s price. Therefore, the maximum per bedroom subsidy may be lower than the amount shown above.

Upon Pre-Qualification of Eligibility, applicants will be provided a copy of the Policies and Procedures Manual for the Program, which gives detailed information on the Program.

Applications are available through the Department of Environmental Services. The First Time Homebuyer Application is available as an Adobe Acrobat document. Complete and return the Application and all required documents to the Department of Environmental Services, Housing & Special Projects Division, 3855-A Alamo Street, Simi Valley. If you need further help please contact me at (805) 432-7705 or via email.

The City also partners with other available First-Time Homebuyer Programs such as the Ventura County Regional Mortgage Credit Certificate Program (MCC) administered by the County of Ventura and the California Housing and Finance Authority (CHFA). The CHFA Programs offer down payment assistance and in some cases assistance with closing costs. The MCC Program offers a 15% tax credit of the annual interest you pay on the home mortgage, reducing your federal income taxes and increasing your earnings. The income limits, the down payment assistance, the type of 1^st and 2^nd mortgage loans, and the maximum purchase price differ for each First-Time Homebuyer Program.

NOTE: This information was obtained from the City of Simi Valley.

Filed Under: Buyers Tagged With: assistance, first time buyer, home, program, Simi Valley

Why QR codes won’t sell your Simi Valley Home

July 20, 2011 By Ted Mackel 2 Comments

I recently was showing a Simi Valley home and the flyer advertising the listing had every element of what real estate agents will hear out in the training seminar circuit. QR codes have been around for a while and it has taken a while for this older technology to emerge in the United States. QR codes are still a long way from being understood and embraced. The success of the iPhone and Android smart phones just may be the catalyst that will help push this technology forward as QR codes are now starting to appear in many different places across the US.

While these codes are convenient and useful, how many people do you know, who know what QR codes are and have software on their cell phones to take advantage of the technology?

My question to you as a Simi Valley home seller, are you being oversold on gadgets and shiny objects by the Rea Estate Agents you are interviewing? Is the push to show all these flashy items really the agent’s way to distract you from the more important questions like challenging the agent’s experience, expertise and dedication to the real estate profession?

Here are the concerns home owners need to understand when any agent pitches technology as a means to sell your home.

Mobile Friendly – QR codes are used with a mobile phone to scan and the codes will direct you to web content on that mobile phone. Did you know that most Real Estate sites are not very Mobile friendly? Part of the problem is that most Real Estate web developers are behind. These developers still design for flash, they still “frame in” solutions, they still are hooked on Internet Explorer. The fact is that the Blackberry was the predominant phone and it is still widely used, Blackberry doesn’t do flash. It’s hard to argue the success of the iPhone and it doesn’t do flash. Android is the other platform dominating smartphones and what is extremely important is that Windows phones are not even in the same hemisphere when it comes to user base. We have to divorce ourselves from preconceived ideas and understand we don’t control what phones or computers consumers are going use. My industry has continued to live up to it’s knuckle-dragger reputation on technology and still tries to force non universal solutions on unsuspecting real estate agent agents. “Consumer compliant” equals universal; my industry needs a swift kick in the head to wake them up and understand there is no excuse to not develop universally.
Tracking – I can make all the QR codes in the world I choose, but what good are they to me or you the seller, if we cannot track if anyone is using them. The flyer I mentioned in the beginning of this article had a QR code and when I clicked it, it went to a YouTube slide show of the property. There was no way to track how the YouTube viewers got to the video. No way for that real estate agent to show if using a QR code provides any extra value to you the seller. There is a method to enable tracking on QR codes which we can discuss when we are listing your home.
Regurgitation - Is the information at the other end of the QR code the same information as on the Multiple Listing Service (MLS) and every other property search website? This regurgitation of the same old information will only frustrate potential buyers as they have most likely seen the information already, they are looking for something new and fresh. Your “tech savvy” potential real estate agent that is desperately trying to sell you in the interview, probably has not told you that prospective home buyers Google the addresses of the properties they are interested in. Why? Because they are looking for new, fresh information that is not the same as what they have seen on every other site so far. They are Googling to find additional information not found elsewhere.
Lack of Understanding – The use of QR codes in real estate currently shows a lack of understanding. QR codes are primarily geared for mobile use, you scan the code with your phone; so where the code takes you is very important.

Consider the following:

The listing flyer - already has a ton of information about the house. The QR code needs to link to something different and fresh than what is on the flyer or on internet property search sites. The prospective buyer is going to take that flyer home and go to their computer. It is unlikely that they are going to scan a QR code when they are sitting next to their computer with a flyer, rather will type a website address directly into the computer.
The yard sign – A yard sign is typically static. Agents buy a dozen signs that are all identical. A QR code pointing to the agent’s website really is not doing much to showcase your home. Remember that most sites are not very mobile friendly. What are the chances that buyers get to the agent’s site and find your home? Imagine having to navigate an agent website on the small display of a mobile phone, maybe outside in the sunlight. Signs these days can be customized very inexpensively, the QR code needs to be unique for that property directing the consumer to content that is optimized for mobile devices (phones, iPads and tablets) and different than what is already found on the typical property search sites.
Direct mail or Print Advertising - Here is another piece that will be brought to the computer and the likelihood that a Simi Valley home buyer is going to scan the code when they have a computer with much larger display has to be considered. Again a QR code on this type of advertisement needs to direct the person to something mobile friendly, different and fresh.
On a website - You may see a QR code on a website, why? I mean, why scan your computer screen with your mobile device to view information that can be easily viewed on screen with an old fashioned web link? (aka hyperlink). A QR code on a website should point to information the consumer will need to take with them on the go, information about your property they will need when they are out looking at properties. For example a Google map with the location of your property.

There are many other uses for QR codes and several for the real estate industry, but for marketing your home the above four are directly related to selling your Simi Valley home. I cannot stress enough that the use of QR codes needs tracking. You want to be able to measure and see how many people are clicking through so you can adjust your efforts if the click through rates are better in some uses than others.

I mentioned several times above that QR codes need to be directed at content that is different and fresh compared to what is found on a typical property search sites. So what does that look like? Well, you will have to schedule an appointment with me to find out. Additionally I have stressed the importance of being mobile complaint, this is just not optional, with the iPhone (rumored) coming to Sprint and more people moving to smart phones, the chances prospective Simi Valley home buyers are going to view information about your phone mobily grows every day.

QR codes are not the end all be all of real estate marketing, they are a very small part of the marketing issues that factor into selling a house. Price, Condition and Location still rule the day. QR codes, full page newspaper ads, heck I could fly the Goodyear Blimp with a scrolling message advertising your house, but if the price-condition-location formula is mismatched, marketing your home to death will not make it sell.

Back in 2009 I commented on an article (Pictured above) on the Agent Genius website that was marveling at the technology. In that entire article from the fall of 2008, there was no connection made to marketing real estate. It looked better suited as an electronic business card. Recently at this year’s Keller Williams Family reunion in Anaheim California, agents had QR codes with their contact information and QR codes for their websites to be exchanged instead of business cards. This was a big shift form the prior year where I did not see this happening.

My brother first showed me QR codes in 2008 and when I talked about them people looked me as some sort of “Uber Geek”. Well it looks as the shift of smart phones is spreading this may catch on, probably not to the extent is has in Asia, but that if used properly can assist Simi Valley home buyers in their search for their next home. As a Simi Valley home seller you will need someone who understands the technology, where it best fits in and how to implement a real estate marketing strategy properly. Give me a call at (805) 432-7705 and I will be happy to meet with you and discuss how we can market your home. The QR code at the top of this article goes to a YouTube video I created for a client, but the difference is I can track if anyone has actually scanned and used it and it goes to content that not found on the plethora of property search sites making is fresh and useful for the home buyer.

As you watch this clip, pay attention to the common theme. Tracking & mobile compliant. What we are seeing in the real estate industry is just a Hodge-podge of shiny object syndrome where agents are being taught about a new technology, but are being taught poorly.

I will leave you with this video how a market in South Korea has used the technology to grow their business. For a code developed many years ago at Toyota to track car parts on the assembly line, QR code use working it’s way in to main stream society.

Filed Under: Sellers Tagged With: Buyers, home, mobile, QR codes, real estate agent, Simi Valley, technology

Simi Valley Indian Hills Ranch Home Sales History

June 8, 2011 By Ted Mackel 1 Comment

See properties for sale

Below are tables representing Simi Valley Indian Hills Ranch Tract Home Sales History. The Indian Hills Ranch Tract is located off Simi Hills Drive and Alamo Drive. This is a quick snapshot at how the Indian Hills Ranch Tract has reacted to the changing market. Sales data is from 2003 through May 31st 2011.

The Indian Hills area in Simi Valley consists of 5 tracts. The Ranch and Ridge Sections are the two largest tracts in the development. The following sales data represents just the Ranch area. The Sales have pulled back to 2003 averages and in the last year have begun to bounce back a little. Homes that are upgraded, well maintained and in excellent showing conditions are commanding sales prices above the current average sales price.

Indian Hills Ranch Simi Valley 2003 Sales History
Average Sale Price	$528,538
List to Sale Ratio	97%
Average Days on Market	23
Number of Homes Sold	13

Indian Hills Ranch Simi Valley 2004 Sales History
Average Sale Price	$619,121
List to Sale Ratio	98%
Average Days on Market	11
Number of Homes Sold	8

Indian Hills Ranch Simi Valley 2005 Sales History
Average Sale Price	$719,536
List to Sale Ratio	98%
Average Days on Market	14
Number of Homes Sold	22

Indian Hills Ranch Simi Valley 2006 Sales History
Average Sale Price	$770,618
List to Sale Ratio	96%
Average Days on Market	63
Number of Homes Sold	8

Indian Hills Ranch Simi Valley 2007 Sales History
Average Sale Price	$742,500
List to Sale Ratio	97%
Average Days on Market	66
Number of Homes Sold	4

Indian Hills Ranch Simi Valley 2008 Sales History
Average Sale Price	$575,050
List to Sale Ratio	94%
Average Days on Market	97
Number of Homes Sold	10

Indian Hills Ranch Simi Valley 2009 Sales History
Average Sale Price	$525,730
List to Sale Ratio	96%
Average Days on Market	65
Number of Homes Sold	13

Indian Hills Ranch Simi Valley 2010 Sales History
Average Sale Price	$525,166
List to Sale Ratio	89%
Average Days on Market	28
Number of Homes Sold	6

Indian Hills Ranch Simi Valley 2011 Sales History
Average Sale Price	$567,571
List to Sale Ratio	95%
Average Days on Market	95
Number of Homes Sold	7

Filed Under: Simi Valley Tracts Tagged With: home, Indian Hills, Indian Hills Ranch, Sales, Simi Valley

Simi Valley Home Sales Report for September 2010

October 3, 2010 By Ted Mackel 3 Comments

Simi Valley home sales for September 2010 held their ground and blended in with the running averages. Interest rates remained below 5% in September and some buyers were able to lock rates below 4 1/2%. Even with historically low interest rates Simi Valley Home buyers remain cautious. While the number of distressed properties listed for sale does not dominate the inventory, there is still a significant number of homeowners in trouble which adds negative pressure to the market.

Homeowners trying to modify and keep their homes, sometimes end up more than half a year behind on payments only to find out that they do not qualify for modification. This backlog of distressed inventory is part of what’s driving lack of confidence in the market.

Simi Valley saw a low in May of 2009 and so far, the market has not retreated back to those numbers. The Simi Valley Housing Market looks to have stabilized and is holding ground for the time being. Only has the tax incentives added any excitement to the market.

Buyers tend to have a slight advantage in purchases now as inventories are more balanced, Interest Rates are incredibly low and the distressed market created some influence in favor of Simi Valley Home Buyers.

This first chart has the Simi Valley detached home sales broken down by price range for the month of September 2010.

This next chart represents the number of single family detached Simi Valley homes sold by month.

This chart show the average sales price of single family detached homes ove the last 3 years

Filed Under: Market Updates Tagged With: Buyers, home, Home Sales, report, Simi Valley

Simi Valley Indian Hills Ridge Home Sales History

August 20, 2010 By Ted Mackel 1 Comment

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Below are tables representing Simi Valley Indian Hills Ridge Home Sales History. The Indian Hills Ridge Tract is located off Flanagan east of Yosemite. This is a quick snapshot at how the Indian Hills Ridge Tract has reacted to the changing market.

Indian Hills Ridge Simi Valley 2003 Sales History
AVERAGE Sale Price	$558,989
HIGH Sale Price	$650,500
LOW Sale Price	$470,000
List to Sale Ratio	98.6%
Average Days on Market	28
Number of Homes Sold	12

Indian Hills Ridge Simi Valley 2004 Sales History
AVERAGE Sale Price	$710,077
HIGH Sale Price	$775,000
LOW Sale Price	$570,000
List to Sale Ratio	96.2%
Average Days on Market	11
Number of Homes Sold	11

Indian Hills Ridge Simi Valley 2005 Sales History
AVERAGE Sale Price	$791,884
HIGH Sale Price	$875,000
LOW Sale Price	$705,000
List to Sale Ratio	97.6%
Average Days on Market	33
Number of Homes Sold	13

Indian Hills Ridge Simi Valley 2006 Sales History
AVERAGE Sale Price	$793,428
HIGH Sale Price	$900,000
LOW Sale Price	$739,000
List to Sale Ratio	97.1%
Average Days on Market	62
Number of Homes Sold	7

Indian Hills Ridge Simi Valley 2007 Sales History
AVERAGE Sale Price	$760,930
HIGH Sale Price	$825,000
LOW Sale Price	$688,000
List to Sale Ratio	95.5%
Average Days on Market	56
Number of Homes Sold	10

Indian Hills Ridge Simi Valley 2008 Sales History
AVERAGE Sale Price	$661,875
HIGH Sale Price	$697,500
LOW Sale Price	$595,000
List to Sale Ratio	98.7%
Average Days on Market	113
Number of Homes Sold	4

Indian Hills Ridge Simi Valley 2009 Sales History
AVERAGE Sale Price	$613,000
HIGH Sale Price	$665,000
LOW Sale Price	$580,000
List to Sale Ratio	91.1%
Average Days on Market	97
Number of Homes Sold	4

Indian Hills Ridge Simi Valley 2010 Sales History Up through August 20th
AVERAGE Sale Price	$632,500
HIGH Sale Price	$660,000
LOW Sale Price	$565,000
List to Sale Ratio	95.6%
Average Days on Market	72
Number of Homes Sold	4

Simi Valley indian Hills Ridge Sales Data Graph

Click on this Chart to see a larger copy

Filed Under: Sellers, Simi Valley Tracts Tagged With: home, indian hills ridge, sales history, Simi Valley

3 Signs your home is not Ready to Show- (Simi Valley Homes for sale)

July 29, 2010 By Ted Mackel 2 Comments

I was out this week showing Simi Valley homes to clients and the bank owned Simi Valley homes (REOs) have enough issues that can be understandable; however, the owner occupied properties could really use some help as well. I shot a few pictures while out and decided to bring up this topic again as Simi Valley home sellers really need to think about how they might approach the sale of their home. I think every home seller needs to ask the following question.

Am I (Home Seller) a willing participant ready to do what it’s going to take in this market to sell my home or am I an obstructionist whether aware or unaware of how I drive buyers away from my home?

Are you shooting yourself in the foot? You want to sell your home but when Realtors call to show your home do you suffer from the following maladies:

You need time to clean
Your animals have free run of your house and need to be put away
Realtors can only come at very specific times with an appointment

There are plenty of Simi Valley homes for prospective buyers to see; if your home is the most difficult and it is not ready, then you might as well take your home off the real estate market.

Simi Valley is not unique to people’s busy schedules, so access for buyers and Realtors is very important. Creating obstacles and barriers to letting your home be seen by perspective buyers will only cost you money and time in the long run, as buyers in this real estate market will have other opportunities.

First, if you have a hard time keeping your home clean it may be a good idea to hire a house cleaner while your home is on the market. The money you add to your home budget will pay off with a quicker sale and maybe even a better price for your home, if your home is in tip-top shape when prospective buyers come through.

Next, if you have not created obstacles and barriers for buyers and Realtors accessing your home; do you have family pets? While we all love our pets, prospective buyers may have fears. Large dogs with free run of homes is a very common occurance. It seems like the larger the dog the more liberty the owners give their pet(s) inside their homes.

I am helping three clients find a home in Simi Valley right now that have a fear of dogs and at least 30% of the homes we go to, have dog issues that distract my client’s full attention when looking at those homes. Other than your dog scaring my clients way from your home, the odor that an indoor pet creates is now noticeable to the pet owner, but can be another distraction to prospective buyers. Yes I know that your dog won’t hurt anyone and that your dog is the nicest dog on the planet, but prospective buyers with a fear of dogs really do not care about those claims. Those buyers will be so concerned about where you are keeping your dog, they never get to enjoy your home.

Last, appointments and limited access. The Lock box system we use in the Simi Valley Moorpark Association of Realtors is computerized and a secure system. The agent’s keys are electronically updated every 15 mins when on and will update when turned on so it is very easy to lock out problem agents. Their is a CBS code (Call Before Showing) that can

be given to the agents before they come over to see your home. The importance of using the computerized boxes we use in the Simi Valley Moorpark Association of Realtors is that a report of who has been in your home is available daily. Also the key automatically calls the system after it is used to open a lockbox and the Listing agent receives an email notification of the showing. Most agents now carry Android, iPhone or Blackberry and can access email at any time.

While I understand the different reasons why sellers would like appointments and a restriction, please remember there are many other homes out there that are easier to see.

Putting all together….Keep your house clean, manage your family pets and make it easy for buyers to access your home. If you remove these obstacles, that will be the first step towards getting more people to show your home and be interested after they have visited.

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Filed Under: Sellers Tagged With: Buyers, home, homes, lcok box, prospective buyers, real estate, Simi Valley

SB 401 – What’s My Short Sale Tax Liability With The State of California?

April 27, 2010 By Ted Mackel 4 Comments

So, you’re trying to figure out if you have California Tax Liability With The State of California if you sold your Simi Valley home via Short Sale or are planning to short sell your home.

SB 401 is set to work in line with the IRS Mortgage Debt Relief Act of 2007 forgiving tax liabilities that could affect Californians who disposed of their property through a Short Sale in 2009 . It also includes relief for those who received a reduction of principle through a Loan Modification or Cancellation of Debt income from a foreclosure.

Who is affected:

If you were party to or will be a party to a Short Sale, Foreclosure or Loan Modification between 2009 and 2012. 2007 & 2008 already had this provision, SB 401 extends this relief now up through 2012.

What Do You Have to Do to Participate?

If you qualify for the IRS Mortgage Debt Relief Act, then you could possibly qualify for SB 401.

WARNING: There are serious liabilities related to home loans if you are foreclosed on, participate in a deed in lieu or participate in a Short Sale. Make sure to consult with an attorney

DISCLAIMER: I am not a Tax professional nor is this information offering you Tax Advise. This is merely a report on the current passage of SB 401. All information above should be verified with your Tax Preparer/Professional.