Zillow emailed the following report for Simi Valley real estate home values. Whether you love or hate Zillow, I have been monitoring the Sold listings and it is clear that the average Sales Price has dropped this year. See my following blog post for the lastest numbers:

http://homebuysblog.com/2008/05/10/simi-valley-real-estate-homes-sales-update/

Until the fallout of the lending industry has reached it’s cooling point, the buyers will definately have the advantage under the current market conditions.

A great quote from the February 25th, 2008 edition of Time Magazine (Ignore the Headlines! page 54) “When prices are falling, few people have the discipline to buy stocks, a house, gold, art or any other asset. But those who do pull the trigger excel in the long run.”

In the same article Peter Lynch is quoted as saying “A top reason to not buy stocks, is if you don’t already own a home, in which case that should be your first investment.”

According to N.A.R. the average networth of a home owner compared to a renter is 36 times. This is a great time to make a real estate move in Simi Valley. Even if you are a frustrated Simi Valley home seller remember that the home you purchase will be bought at a bargain and you will have more choices.