moorpark

4th of July Celebrations in Simi Valley and Moorpark

July 2, 2008 By Ted Mackel Leave a Comment

The 2008 4th of July Celebrations in Simi Valley and Moorpark happen at different times and days.

Moorpark starts off with a July 3rd celebration. Moorpark’s 4th of July event is scheduled to start at 4 p.m. and the fireworks show to start at 9 p.m., at Arroyo Vista Community Park, 4550 Tierra Rejada Road. Come enjoy the fun with Live bands and family games. Admission is $3 per person. Children 4 and under are free. For more information, call (805) 517-6300.

Simi Valley on Friday July Fourth Free Admission!! Sponsored by the Rotary Club.

Kids Fun Zone – Food & Crafts Booths

Location: Rancho Santa Susana Park 5005 Los Angeles Ave., Simi Valley, CA 93063

Gates Open at 3:00 p.m.
3:30 – 4:00 p.m. Simi Valley Police Department — K-9 Demonstration
4:00 – 4:30 p.m. Puma Karate Demonstration
4:30 – 5:00 p.m. Polynesian Dance Group (music and dance)
5:00 – 9:00 p.m. The Platinum Groove
8:45 – 9:15 p.m. Patriotic Music and Flag Salute
9:20pm: Spectacular Fireworks Show!!!

Bring a blanket, or chairs. Dance, and enjoy the evening.

Where to See Fireworks in Simi Valley this 4th of July

Filed Under: Local Events & Activities Tagged With: 4th of July, moorpark, Simi Valley

Simi Valley and Moorpark Real Estate Market Data Through May 2008

June 11, 2008 By Ted Mackel Leave a Comment

Simi Valley and Moorpark Real Estate Market Data Through May 2008
The following information contains the year to date numbers for the Simi Valley Moorpark Housing Market taken from the Ventrua County Regional Data Share MLS.

The number of homes selling are picking back up. Prices continue to decline and financing is becoming harder to obtain for many buyers. Banks are still struggling to find their way in negotiating Short Sale properties.

Simi Valley & Moorpark

Market report January 1, 2008 through May 31, 2008

Activity – Single Family Detached Homes

Active Listings	Simi Valley	Moorpark
Active
# Units	524	192
Average List Price	618,220	855,239
Average Days Listed	91	95

Pending Sales in Escrow
# Units	149	25
Average List Price	509,479	612,740
Average Days on Market	71	81

Total Closed Sales for 2008
# Units	333	67
Average List Price	569,627	680,060
Average Sold Price	543,436	650,517
Average Days Listed	88	108

Average Closed Sales per month	66.6	13.4
Unsold Inventory Index (in months)	7.87	14.32

Activity – Single Family Attached Homes

Active Listings	Simi Valley	Moorpark
Active
# Units	176	54
Average List Price	358,871	331,296
Average Days Listed	85	79

Pending Sales in Escrow
# Units	24	3
Average List Price	310,925	364,103
Average Days on Market	53	67

Total Closed Sales for 2008
# Units	57	15
Average List Price	352,781	336,240
Average Sold Price	381,625	325,368
Average Days Listed	88	82

Average Closed Sales per month	11.4	3.0
Unsold Inventory Index (in months)	15.44	18.0

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

Simi Valley Home Buying Guide for 2008

May 19, 2008 By Ted Mackel Leave a Comment

As an adjunct to my Perfect Storm Blog post. I went to NAR’s website and looked at the historical sales data, to study the trends as I am constantly asked how long will a recovery take or when will the bottom hit. Those waiting for the bottom will likely miss it as the laggards in every business cycle always do. Sure there is probably some hold out time left, but if mortgage interest rates rise, then the rise in rates will washout perceived gains in timing the bottom.

The issue of mortgage rates is critical as in the Simi Valley Moorpark area, a typical home is well above the FHA preferred rate limits and the increased conforming limits under Fannie and Freddy just require a large down payment.

The volume of sales has been declining, but declining from what?

NAR Stats Chart >

The following decades show the volume trends nationally:

Decade	Low	Average	High
1970s	1.6 mil	3 mil	3.9 mil
1980s	2.2 mil	3.3 mil	4 mil
1990s	3.1 mil	3.9 mil	4.9 mil

In 2005 the Volume reached an all time high of 7.1 million homes sold
in the united states. 40% of these homes were non-owner occupied compared to a typical year where only 12% of the volume would yield to non-owner purchases. The market was so hot the Fed jacked the interest rates to cool off the speculation.

NAR is forecasting 4.5- 5 million units to be sold in 2008. Does this mean that the market will continue to decline? Different areas will have opposite reactions, for Simi Valley Moorpark, we will most likely see more of the same until the REO/short sale market begins to lose steam.

Let’s face it, the banks were giving money away and now they are holding on to their money with very restrictive lending requirements. Easy money will no longer drive our market.

Most of the major carnage has happened. Some neighborhoods are poised for continued price adjustments, however good homes that are priced well are selling and selling with multiple offers. If you find the home that you fall in love with and are worried that whether you have the timing just right, let me assure you, if you wait a replacement home that gives you the same feeling, it may not be available if you wait.

Ask yourself the following questions:

Is this the house I love for what I can purchase now?

Size?

Location?

Affordability?

Amenities?

Can I see myself living here for the next 5-10 years?

If your answer is yes to these questions then don’t try to second guess and let’s write your best offer

Filed Under: Buyers Tagged With: buying, fannie mae, fha, freddie mac, guide, home, moorpark, nar, Simi Valley

Facts Simi Valley Moorpark Home Sellers Need to Know

May 15, 2008 By Ted Mackel Leave a Comment

Planing on selling your Simi Valley or Moorpark home? This table was create so you could get an idea of who the buyers for your Simi Valley or Moorpark property are and what they can afford. The taxes and insurance are based on homes in the Ventura County – Simi Valley Area. Insurance rates may vary due to different conditions i.e. flooding.

Table 1

Purchase Price	20% Down Payment	Interest Rate	Monthly Payment	Monthly Taxes & Ins.	Yearly income needed to qualify

$300,000	$60,000	6.25%	$1,477.72	$400.00	$91,200
$400,000	$80,000	6.25%	$1,970.30	$500.00	$106,000
$500,000	$100,000	6.25%	$2,462.87	$600.00	$122,000
$600,000	$120,000	6.25%	$2,955.44	$700.00	$138,000
$700,000	$140,000	6.25%	$3,448.02	$825.00	$154,000
$800,000	$160,000	6.25%	$3,940.59	$930.00	$171,000
$900,000	$180,000	6.25%	$4,433.16	$1,040.00	$189,000
$1,000,000	$200,000	6.25%	$4,925.74	$1,155.00	$204,000

Table 2

Purchase Price	20% Down Payment	Interest Rate	Monthly Payment	Monthly Taxes & Ins.	Yearly income needed to qualify

$300,000	$60,000	5.50%	$1,362.69	$400.00	$88,000
$400,000	$80,000	5.50%	$1,816.92	$500.00	$103,200
$500,000	$100,000	5.50%	$2,271.16	$600.00	$117,600
$600,000	$120,000	5.50%	$2,725.39	$700.00	$133,200
$700,000	$140,000	5.50%	$3,179.62	$825.00	$150,000
$800,000	$160,000	5.50%	$3,633.85	$930.00	$162,000
$900,000	$180,000	5.50%	$4,088.08	$1,040.00	$177,000
$1,000,000	$200,000	5.50%	$4,542.31	$1,155.00	$193,000

Certain assumptions are made in the above tables. The above are estimates and are not to be considered as actual. The above information is deemed reliable but not guaranteed.

Before commenting that the new conforming rate is now $729,000 and the Buyers will only need 3% down under FHA guidelines, it is still obvious what kind of income will be need and how large the monthly payment will be required. The above 20% down tables will not require mortgage insurance.

Filed Under: Sellers Tagged With: home, income, moorpark, property, real estate, Simi Valley, Ted Mackel

Four reasons why MY future in Simi Valley Real Estate is bright!

May 14, 2008 By Ted Mackel 4 Comments

The following Blog post Jump Start the Housing Industry by Mandating Blackberry Usage by Matthew Ferrara & Co is something I have been talking about for long time. Yeah, I am more of a techie than most, but these tech tools are being used by the public and they are being used more by the public than by my colleagues in real estate related activities.

1. Latops are mandatory tools in this business and not just any laptop will do. I’m talking about small & light notebook style laptops not the boat anchor media center laptops rookie computer users purchase for their first laptop. This has been a mandatory tool for several years now.

2. A PDA cell phone is mandatory. At minimum a Blackberry. The iphone is moving in on our industry and will take over with the RE.net crowd when the next upgraded release hits the streets (which is soon). In the Southern California Area the Palm Treo is still a stong tool as the Supra ibox keysafe system works only with pda phones that have infrared capabilities. However even with the the lack of infrared capability on the Blackberry and iphone, both these phone features make some compelling trade offs. Still the iphone is light years a head of the Blackberry and is the front runner the RE.net crowd if you are willing to drop the Supra ibox compatability issue.

3. This entry should really be a subset of number two. Text messaging, picture, video capture and email needs to actually be used on these PDA phones. Youtube, Flickr and other services make it too easy to upload photos and video on the fly.

4. Paperless online transaction management systems and skills. This still takes some computer skill, like feeding the documents in the scanner and scanning them into a PDF file and then uploading those files to software designed to securely monitor and give access to those documents. This will be the mandatory system in just a few years Arizona is taking the lead on this one; it should be now, but Realtors have always lagged. All the consumer printer manufacturers still make all-in-one printers with a fax machine probably because there are so many Realtors that refuse to scan-to-email. I have not even touched on electronic signature packages which will make tablet PCs obsolete.

The four areas I touched on above are not James Bond type systems. Everything above can be purchased for very reasonable prices. The cost to be a Realtor is a fraction of what it would cost to open a franchise or start up any other business, so the cost is very a poor excuse. The costs for a PDA phone, Laptop and software it is still under $2,500.00. Has anyone checked to see what it costs to open a Subway Sandwich franchise lately?

When I look through the listing data on the Simi Valley – Moorpark Multiple Listing Service or when I call other agents to show their property or get feedback when they show my listings, it is painfully evident that I have the easy upper-hand in this business. My future is bright!

Filed Under: Personal Ramblings Tagged With: housing, moorpark, real estate, Simi Valley

What is REO?

May 7, 2008 By Ted Mackel 2 Comments

What is REO? Here’s one for the longtail and a sort of WIKI entry to my BLOG!!!

In any business it is hard not to slip into the industry vernacular and forget that our audience may not really be following. REO is an acronym for Real Estate Owned. Here in Simi Valley and Moorpark an REO property falls under the California process of foreclosure. California is a Trust Deed state. The term mortgage is a more universal term like Kleenex or Xerox for Californians.

When a person borrows money against a property the Loan is made and secured against the property with an instrument known as a Deed of Trust. The Deed of Trust has three partys. The Lender (Beneficiary), The Borrower (Trustor) and the Trustee – an entity or person who holds the Title to the property until the Loan (secured by the Deed of Trust) is paid.

In the event that the Trustor defaults on the Loan, the Trustee is vested with the right (power to sell) to foreclose (non Judicially) on the property with in the parameters allowed by the state of California. At the time the Trustee is entitled to set the date of sale, public notice is given. The minimum bid is set at the amount owed on the property plus payments in arrears, plus costs. This minimum amount is usually more that the market value of the property so the Beneficiary ends up with the property and then will either hire a real estate broker or private auction company to sell the property. Once the Beneficiary takes title to the property, the property is now known as an REO.

Filed Under: Buyers, Sellers, WIKIs Tagged With: beneficiary, borrower, California, deed of trust, foreclosure, lender, moorpark, property, Real Estate Owned, REO, Simi Valley, trustee, trustor

How to Jazz up that old Virtual (slide show) Tour.

April 25, 2008 By Ted Mackel Leave a Comment

Almost every listing I take now will have a video tour hosted on Wellcomemat.com, Google Video and Youtube. However that old slide show virtual tour will now be two tours. I was introduced to a new site yesterday and I will be exploring it with my listings. the site is Animoto.com. Below are an examples of what I can do with a slide show of my listing.

What is great about this service is that 30 second teaser videos are free. $30.00 for one year lets you create longer videos. If you use the following referral code wnrtgesd you will get $5.00 off. In my trade area of Simi Valley, Moorpark, San Feranado Valey and Conejo Valley, I do not see tools like this used on real esate homes listings, so it will be fun to be the first.