February 10, 2012

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#26 Simi Valley Dream Cuisine at St Rose of Lima Church – 365 Things to to in Simi Valley

August 18, 2011 By Leave a Comment

Simi Valley Dream Cusine(Video Below) What happens when you have a dynamic leader, a seemingly impossible goal and a group of dedicated people? You get over 2500 people to show up on a Sunday evening for Simi Valley’s very first Dream Cuisine.

Father Joseph Shea came to St. Rose Lima just two years ago. From the first day, the parishioners knew things would be different.  Father Shea is known for big goals and the ability to motivate people to do things they might normally shy away from.

Saint Rose of Lima Christian services working together with Serving Those In Need, Inc.  have been serving the poor, the needy and the homeless in Simi Valley for the past 45 years. All proceeds from the Simi Valley Dream Cuisine will help support this invaluable service. Additionally this will also help needy students of the St. Rose of Lima School.

The Simi Valley Dream cuisine provided an opportunity to dine on gourmet foods from Simi Valley, Moorpark, Thousand Oaks and from the San Fernando Valley’s finest restaurants. Those that attended enjoyed food from over 50 restaurants, sipped on fine wines from some the most prestigious wineries, drank beer from well-known breweries and taste desserts from outstanding bakeries and establishments.  In all there were 78 different vendors at the event covering just about any kind of food you could imagine.

Tickets were $60.00 per person, $100 per couple, which was a complete bargain. Enjoy the video below and plan to attend next year.

Filed Under: 365 Things to do in Simi Valley, Events Tagged With: , , ,

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

August 11, 2011 By Leave a Comment

Estimated Costs to Sell Your Simi Valley HomeWhat 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

Related Articles:

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

August 4, 2011 By 1 Comment

simi valley homes sold market updates for simi valley home sellers and buyersSee 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.

Simi Valley homes Sales for July 2011

Simi Valley homes Sales for July 2011 Graph

Filed Under: Market Updates Tagged With: , , , , ,

Night Golf In Simi Valley Anyone? Lights Out” No Frills 9 Hole Scramble Golf Tournament

August 2, 2011 By Leave a Comment

Simi Valley Night Golf TournamentSave the date
Saturday, August 13, 2011

Yes, that’s right night time golf in Simi.  What a great way to get out and have some fun on the golf course, at night.  Using glow in the dark golf balls can 9 hole finish up before midnight?  Super low entry fee of $80.00 to play.  Come out and join the fun.

Loving Heart Hospice Foundation is pleased to host the 1st Annual “Lights Out” No Frills 9 Hole Scramble Golf Tournament. The proceeds support terminally ill low-income Ventura County hospice residents. Registration and sponsorships are accepted on a first-come, first served basis. Submit full payment along with your completed application or register online at lovinghhfoundation.com.

Filed Under: Events, Local Events & Activities Tagged With: ,

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

July 24, 2011 By Leave a Comment

Selling Simi Valley Real Estate in divorceDivorce 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.

  1. Does one spouse want to retain the home?
  2. Try to retain the property while the children are in school and then selling the asset later?
  3. Not happy with the market conditions and want to try to hold on to the house and sell it later for a larger profit?
  4. 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: , , , , , , ,

Simi Valley First-Time Homebuyer Assistance Program

July 22, 2011 By Leave a Comment

simi valley-first time home buyer assistance programSimi 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 1st and 2nd 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: , , , ,

Why QR codes won’t sell your Simi Valley Home

July 20, 2011 By 2 Comments

QR codes for simi valley home sellersI 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.

Ted Mackel on QR Codes for real estate marketing 2009

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: , , , , , ,

How the right Lockbox can help your Simi Valley Home Sell Quicker

July 16, 2011 By 1 Comment

(Master Lock Key SafeUpdated 7/16/2011) In my last article on this subject “The importantance of a lockbox when selling your Simi Valley Home” we discussed the importance of giving flexible access.  A concern for any seller when giving access to their home is security.   In this article I will discuss the GE Supra iBox vs. an old style combination box and how that affects your listing agent’s ability to track who has been in your home..

To the right is a picture of a combination style lock box.  While these are effective in providing an extra key, once the combination is given out there is no way to track who has opened the box or control people from giving the combination code to others.  These style boxes are ideal for family members or setting up access for handymen or utility providers if the home owner so desires, but this is a very poor choice for Simi Valley Real Estate Agent showings due to the lack of control.  These mechanical combination lockboxes should only be used for temporary purposes and in my profession recommendation never use this type of box for giving access to agents who want to show your home.

Supra iBox Lock box for Simi Valley Real EstateIn my trade area (including Simi Valley and Moorpark) the SoCal MLS and the Ventura County Regional MLS have chosen to use General Electric’s Supra iBox lockbox system.  This blue iBox is controlled through an infrared communication device on the front of the box.  Agents can rent an electronic key pad or have apps loaded onto any PDA Smart phone.  There is an additional device that pairs with Android and non Apple Smart Phones so the real estate agent’s phone can communicate via infrared. Apple iPhones have a very small device the plugs into the bottom of the phone.

The iBox has a computer chip inside that stores data on all who enter through the box.  The Smart Phones and the keypads call the system every 15 mins when the software is on or the key pad is powered up and transmits which properties the agent has accessed.  If the Listing Agent has registered their lockboxes and has their current email address in the GE Supra system, the Listing agent will receive an email  almost immediately after any of their lockboxes are accessed.  The email contains the agent name and contact information of who just opened the box.  This provides security in that the listing agent knows at all times who has accessed the property with a time a date stamp and if a real estate agent has not paid their bill or is disciplined by the MLS, the system can be set to not authorize their keypad or smart phone to open any of the boxes.

The software on these computerized lockboxes allows for some very flexible programming. For example, the weekdays, Saturday and Sunday can be programmed so the boxes will open only certain times.

If you really want to crank down on who gets in your Simi Valley home, there is a CBS setting. The Call Before Showing (CBS) setting requires the buyer’s agent to call the Listing Agent for an additional unique code to open the box. Using the CBS you could prescreen the agent calling and determine if you are comfortable enough to give out the CBS. Additionally you know right then and there who is going in and at what time.  Please remember that the more restrictive you are with the times buyers can view your home, the fewer showing you will get as I pointed out in the last article The importantance of a lockbox when selling your Simi Valley Home“.

There is a note section in the software so a note will pop up right after the box is opened and you can type in any important notices for the agent, for example, “please leave your card or please turn off the lights”.  ”Feed the dog or take out the trash” is probably not a good way to greet a buyer’s agent.  Another positive feature is that the Listing agent can put their contact information in as a virtual business card and Listing comments as an electronic flyer.  When used as designed and programmed properly, the iBox lockbox system not only becomes powerful tool to increase exposure, but help provide a record of who is accessing the property and a complimentary way to help follow up on potential buyers for your Simi Valley home.

As a side note,  most properties that have been foreclosed on and are now owned by the bank, will use both boxes.  I work with several banks as a listing agent for their Simi Valley properties.  The mechanical lockboxes are used for bank personnel only, handymen etc.  Those codes are not supposed to be given to real estate agents.

The Supra iBox costs a Simi Valley Real Estate Agent approximately $130.00, I own 25 boxes.  When you are interviewing agents, ask if they have a Supra iBox.  If they don’t or they suggest to use a mechanical box; please take this advise, stop the interview and show them the door.  Homes for Sale in Simi Valley range from $150,000 (condos) in to the millions; I think it is reasonable to assume a listing agent can afford a $130 box.

There is an argument against any use of any box and that the listing agent needs to be present for all showings. That can be an article all by itself.  The short answer is that Simi Valley is a bedroom community,  people have conflicting schedules, a listing agent can only be in one place at one time.  Why limit the times a potential buyer can see your home?  And no, a listing agent cannot do a better job selling or touring the prospective buyer; many times the listing agent becomes an annoyance to the the buyer and their agent.  It really does not mater how it is done in other parts of southern California or other parts of the country, it only matters how it is done in Simi Valley because your competition (the other Simi Valley homes for sale) are using the system very effectively.  Don’t be the last to sell your home over lack of access.

Originally posted April 27, 2008.

Filed Under: Buyers, Sellers Tagged With: , , , , , , ,

The importance of a lockbox when selling your Simi Valley home

July 15, 2011 By 3 Comments

Simi Valley Home Sellers Lockboxes and showing access(Updated 7/15/11) The internet has changed the way Realtors do business and has changed the way buyers shop for homes.  Additionally, technology is changing our daily routines and work habits.  Buyers have limited time to look at homes for sale so they spend most of their time conducting online search for Simi Valley Homes sifting through listings before calling a Realtor.

Buyers also have busy lives, so when it comes time to look at homes, they want to go out and look at homes on their time schedule, not the seller’s.

As an active Simi Valley real estate agent showing buyers homes, I generate a showing list based on my clients needs.  Usually there are 8-9 homes on the list that closely match (my client’s wants) and that list is sorted starting as follows:

  1. Vacant listings,
  2. Listings to call, leave a message and go direct,
  3. Call and make special arrangements (put away pets etc.)
  4. Appointment needed with the agent, the owner or both.
  5. Homes that are only available at certain times or days.

Nine times out of ten times my clients will sort the list the same way if I give them the stack of paper; they want to know which houses are the easiest to see.  The reasoning behind this is that the homes on our list already fit their criteria and second that they can see as many homes possible as their time is valuable.

Clients also prefer to see a home without the seller present.  Even though a seller can be helpful in explaining things they have done to the property, home buyers like to comment about features or non features of the house and would like to do so freely.

Usually the homes (listings) that fit the first 3 scenarios above, all have lock computerized boxes.  If you have your home listed for sale and fall into the 4th or 5th scenario and wonder why you are not getting many showings, wonder no more.  I’ve shown thousands of homes in my career and EASE OF SHOWING rules the day.  If your house is priced with the competition in mind and you are not getting decent showing traffic; ask yourself which of the 5 choices you have given your prospective buyers and their Realtor.

Last here is an example of a day showing properties to buyers.  Last weekend my buyers wanted to see as many homes as possible.  There were 39 active Simi Valley homes for sale that met their criteria.  3 homes in particular said we could only come after 3:00 and each home was located far apart.  One Simi Valley home was in Wood Ranch, one in Simi Valley’s Big Sky and one in Simi Valley’s Auburn Hills by the Metrolink station.  Because we started out showings in Wood Ranch, guess which home got kicked of the list?  My buyers wrote and offer on a home on the east end of town. You are the seller, consider if you want to be an obstructionist or want to be inviting?

A blog post will follow soon “Lockboxes Part II” and I will go into depth on the power of the Supra iBox vs the old style combo box.

What’s my Home Worth

**This post was originally written April 27, 2008 and has been updated.

Filed Under: Sellers Tagged With: , , , , , , , ,

Simi Valley Indian Hills Indian Estates Tract Sales History 2003-July 2011

July 13, 2011 By Leave a Comment

Simi Valley Indian Hills Estates homes for salesSee properties for sale

Below are tables representing Simi Valley Indian Hills Estates Tract Home Sales History. The Indian Hills Estates Tract is located just north west of Alamo Drive and Yosemite.  There were just under 100 homes built in this tractand they are considered the more luxurious of the 5 tracts. This is a quick snapshot at how the Indian Hills Estates Tract has reacted to the changing market. Sales data is from 2003 through July 13th 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 with the Indian Meadows being the third largest.

Indian Hills Estates Simi Valley 2003 Sales History
Average Sale Price $644,470
List to Sale Ratio 99.45%
Average Days on Market 50
Number of Homes Sold 5
Indian Hills Estates Simi Valley 2004 Sales History
Average Sale Price $791.190
List to Sale Ratio 99.43%
Average Days on Market 58
Number of Homes Sold 5
Indian Hills Estates Simi Valley 2005 Sales History
Average Sale Price $926,500
List to Sale Ratio 97.12%
Average Days on Market 9
Number of Homes Sold 4
Indian Hills Estates Simi Valley 2006 Sales History
Average Sale Price $894,112
List to Sale Ratio 93.12%
Average Days on Market 64
Number of Homes Sold 4
Indian Hills Estates Simi Valley 2007 Sales History
Average Sale Price $892,300
List to Sale Ratio 94.17%
Average Days on Market 90
Number of Homes Sold 1
Indian Hills Estates Simi Valley 2008 Sales History
Average Sale Price $515,000*
List to Sale Ratio 81.88%
Average Days on Market 142
Number of Homes Sold 1

* This house was the smallest model in the tract. It was a short sale ans was a fixer that needed work.

Indian Hills Estates Simi Valley 2009 Sales History
Average Sale Price $650,000
List to Sale Ratio 91.55%
Average Days on Market 194
Number of Homes Sold 1
Indian Hills Estates Simi Valley 2010 Sales History
Average Sale Price $628,316**
List to Sale Ratio 100%**
Average Days on Market 10**
Number of Homes Sold 3

** One of the properties started with a list price of $849,900 and eventually sold for $665,000. It was on the market for 1 year. It sold close to the reduced price and had a sales price close to the the other two sales. The one year market time and the huge price reduction skews, how this home would have reacted to market conditions if priced properly as the other two properties.

Indian Hills Estates Simi Valley thru July 2011 Sales History
Average Sale Price $712,500
List to Sale Ratio 90.21%
Average Days on Market 73
Number of Homes Sold 1

There are currently two homes for sale in the Indian Hills Estates tract as of July 13 ,2011. The average list price of the two homes is $626,975 with an average of 40 days on market, I have been most these homes and based on location amenities and pricing the final sales price will most likely average down close to the list price on one of the homes as it is in very good condition and the location is better.  The other listing (which is the same model) is in poor condition and backs Yosemite. It may close lower than the asking price.

The one sale in the Indian Hills Estates tract for 2011 at $712,500 in not an indication that prices are rising, this property really goes back to the rule of “Location, Location, Location.” It sits perfectly opposite the 5th tee at Simi Hills Golf Course and over looks the 5th green / fairway approach.  A good size lot for the tract and pool.  The sales comp will help the neighborhood, but it would be premature to say it will drive average pricing for the neighborhood over $700k.

Filed Under: Simi Valley Tracts Tagged With: , , ,
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