The year is wrapping up. Simi Valley Home Sales or should I say the number of homes sold for the year are improving. Prices many not have improved, but the increase in volume is always good for housing. The questions for Simi Valley are who is buying and what is selling?
The trend continues with homes under $450,000 commanding the largest sector selling in this market. Approximately 33% of those homes are selling with low down payment or FHA financing with the balance going to Cash and conventional Financed buyers. At Simi Valley open houses, I am running into many people looking to pick up their first rental property or additional rental properties. Additionally, with many buyers looking to keep the home they are in as a rental and making the move up purchase on the second home. These buyers are out in larger numbers because they understand money is cheap at the current interest rates and pricing is at it’s most aggressive point it has been at in the last few years with more single family detached Simi Valley homes selling below $300,000 than in any other year since the market collapsed. If you follow the monthly postings here on my blog, you can see the trends in the activity.
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