Saturday, July 31, 2004
Thank You to all who came to my BBQ Open House!
What a great time we had Thursday evening at my Open House BBQ Party. Over 40 people attended. Hamburgers, Hotdogs, Pizza and Soft Drinks were enjoyed by all. The kids all had a blast, with balloon animals and the magic show.
Sean Hart from Olympia Funding was on hand to answer questions on home loans and at the end of the night we were happy to see how much free information was taken home by those who came.
It was great to see old friends and meet some new friends in a very relaxed atmosphere. This event was so much fun and because of the feedback I have received, Sean and I will be hosting more of these kind of events in the future.
Sean Hart from Olympia Funding was on hand to answer questions on home loans and at the end of the night we were happy to see how much free information was taken home by those who came.
It was great to see old friends and meet some new friends in a very relaxed atmosphere. This event was so much fun and because of the feedback I have received, Sean and I will be hosting more of these kind of events in the future.
Friday Caravan Results
The SVMAR Friday Caravan hosted the following:
1 - 6 Bedroom Homes
6 - 5 Bedroom Homes
29 - 4 Bedroom Homes
23 - 3 Bedroom Homes
3 - 2 Bedroom Homes
1 - 1 Bedroom Homes
6 were condominiums, 1 BOM and in addition to the 63 listings we had, Price reductions were announced and several homesthat have been on the market a while,were offering increased commission to the buyer's agent or other incentives.
The total available inventory for Simi Moorpark as of this post is 812 with 131 of those listing vacant. It looks like we have hit a plateau for right now. The inventory was on the increase each week from May 1st and since the 800 level has been reached, inventory looks to have stabilized at this level for the last 7 days.
The good news is that there are just as many homes being sold as there were earlier this year, but what makes this difficult for sellers is that these same buyers have 20-30 (or more) homes to choose from in their price range and they have time to make their decision. This will put pressure on sellers who's homes have defferred maintenance issues, location issues or pricing issues. If you need help trying to determine what position your home will take in this market, please call or email me today for a FREE Home Inspection and
FREE Market Evaluation today.
1 - 6 Bedroom Homes
6 - 5 Bedroom Homes
29 - 4 Bedroom Homes
23 - 3 Bedroom Homes
3 - 2 Bedroom Homes
1 - 1 Bedroom Homes
6 were condominiums, 1 BOM and in addition to the 63 listings we had, Price reductions were announced and several homesthat have been on the market a while,were offering increased commission to the buyer's agent or other incentives.
The total available inventory for Simi Moorpark as of this post is 812 with 131 of those listing vacant. It looks like we have hit a plateau for right now. The inventory was on the increase each week from May 1st and since the 800 level has been reached, inventory looks to have stabilized at this level for the last 7 days.
The good news is that there are just as many homes being sold as there were earlier this year, but what makes this difficult for sellers is that these same buyers have 20-30 (or more) homes to choose from in their price range and they have time to make their decision. This will put pressure on sellers who's homes have defferred maintenance issues, location issues or pricing issues. If you need help trying to determine what position your home will take in this market, please call or email me today for a FREE Home Inspection and
FREE Market Evaluation today.
Tuesday, July 27, 2004
Tuesday Caravan Results
Tuesday Century 21 Hilltop - La Carre Caravan hosted 13 homes.
2 - 5 Bedrooms
8 - 4 Bedrooms
3 - 3 Bedrooms
1 - 2 Bedrooms
2 of the homes were Condominiums. One BOM was announced as well as 8 price reductions.
As of this evening there are 801 active listings for Simi Valley Moorpark and of those listings 128 are vacant.
2 - 5 Bedrooms
8 - 4 Bedrooms
3 - 3 Bedrooms
1 - 2 Bedrooms
2 of the homes were Condominiums. One BOM was announced as well as 8 price reductions.
As of this evening there are 801 active listings for Simi Valley Moorpark and of those listings 128 are vacant.
233 Homes SOLD in June!
That's right, there were 233 homes that closed escrow in June. The average was at 200 per month in the preceding 3 months. Even though inventory has increased, buyers are still out shopping for homes. What we have seen is that prices are 20%-25% higher than last year at this time, but that the large increases have begun to stabilize. The homes that sold in June sold at 2%-3% higher than the month prior.
As I have been posting, intelligent pricing is very important in determining if and when your home will sell.
As I have been posting, intelligent pricing is very important in determining if and when your home will sell.
Saturday, July 24, 2004
BBQ OPEN HOUSE PARTY THIS THURSDAY!
DON'T MISS MY BBQ OPEN HOUSE PARTY THIS THUSRDAY EVENING!
Located in Indian Meadows. I will be serving hamburgers and hot dogs for the whole family. There will be entertainment for the kids, so come an enjoy a relaxing evening and FREE dinner at 5566 Salinas Court in Simi Valley.
This will be a great chance to talk about the real estate market whether you are ready to buy or sell or even if you are not sure what you want to do. Sean Hart from Olympia Funding will be there to answer any questions about financing and some of the new exciting loan programs that are coming available.
Go to mapquest and print out a map to 5566 Salinas Court in the 93063 zipcode area and join us any time between 4:30 and 8:30 pm.
Located in Indian Meadows. I will be serving hamburgers and hot dogs for the whole family. There will be entertainment for the kids, so come an enjoy a relaxing evening and FREE dinner at 5566 Salinas Court in Simi Valley.
This will be a great chance to talk about the real estate market whether you are ready to buy or sell or even if you are not sure what you want to do. Sean Hart from Olympia Funding will be there to answer any questions about financing and some of the new exciting loan programs that are coming available.
Go to mapquest and print out a map to 5566 Salinas Court in the 93063 zipcode area and join us any time between 4:30 and 8:30 pm.
Friday SVMAR Caravan Results
The activity for the Friday SVMAR Caravan is as follows:
11 - 5 Bedroom Homes
30 - 4 Bedroom Homes
18 - 3 Bedroom Homes
9 - 2 Bedrooms Homes
9 of the homes above were Condominiums, 1 BOM, 2 Sold, a few were re-caravans. Before the meeting began we had 8 price reductions and one listing offering a 4% commission to the agent representing the buyer.
We set a new level this Friday with active available homes for sale in the Simi Moorpark area busting past the 800 mark. Another factor that has put this buyer's market in prospective is that the number of listings that are vacant is now equal to the total inventory levels we had in April with 124 of the listings vacant.
11 - 5 Bedroom Homes
30 - 4 Bedroom Homes
18 - 3 Bedroom Homes
9 - 2 Bedrooms Homes
9 of the homes above were Condominiums, 1 BOM, 2 Sold, a few were re-caravans. Before the meeting began we had 8 price reductions and one listing offering a 4% commission to the agent representing the buyer.
We set a new level this Friday with active available homes for sale in the Simi Moorpark area busting past the 800 mark. Another factor that has put this buyer's market in prospective is that the number of listings that are vacant is now equal to the total inventory levels we had in April with 124 of the listings vacant.
Tuesday, July 20, 2004
Don't miss out on some great buys.
The mad rush to get out of California has been on for the last 6 weeks. Idaho, Arizona and Texas are the unscientific poll winners. This is creating some great buying opportunities. There are currently 114 vacant listings on the market out of 777 total listings. This is quite remarkable in that it was only last April that there were only 125 total active listings. One hot market is the $450,000 to $500,000 range which has 144 of the 777 total listings.
Make sure to give me a call. The inventory levels are so high that it is impossible for most agents to keep up on all the great properties. As a full time Realtor, I see more property than most. I attend both Caravans each week and report on the activity here on my blog, I preview property on the days in between Caravan and I work in an office with some of the highest producing agents in Simi Valley; where we are very cognizant of market activity.
Make sure to give me a call. The inventory levels are so high that it is impossible for most agents to keep up on all the great properties. As a full time Realtor, I see more property than most. I attend both Caravans each week and report on the activity here on my blog, I preview property on the days in between Caravan and I work in an office with some of the highest producing agents in Simi Valley; where we are very cognizant of market activity.
C21 Tuesday Caravan Results
Today's Caravan hosted 20 listings.
1 - 5 Bedroom
8 - 4 Bedrooms
7 - 3 Bedrooms
4 - 2 Bedrooms Condos
16 Price Reductions were announced as well as 1 BOM
Total Active and Available listings for Simi Valley - Moorpark is 777.
1 - 5 Bedroom
8 - 4 Bedrooms
7 - 3 Bedrooms
4 - 2 Bedrooms Condos
16 Price Reductions were announced as well as 1 BOM
Total Active and Available listings for Simi Valley - Moorpark is 777.
Sunday, July 18, 2004
What does all this inventory mean to sellers?
While the frenzy of earlier this year has cooled off, homes in Simi Valley are still selling 20% higher than last July. The next big jump in prices is not going to surface any time soon and sellers still have tremendous equity in their homes if they have stayed away from the cash-out refinance game.
The gigantic pool of inventory has not kept buyers away and homes are being sold each day. The homes that are moving the fastest, generally have the best location, upgraded masterbath and kitchen (at minimum), upgraded windows and tidy appearance. Homes with deferred maintenance, located on busy streets and or near noise, need to be priced lower than the competition or they quickly become lost in the sea of new listings and price reductions that hit the market each day.
Another consideration is that Big Sky will come online sometime near September, once these homes are available for sale, the inventory for Simi Valley-Moorpark will double. If you plan to sell now, intelligent pricing is going to determine whether your home sits or sells.
The gigantic pool of inventory has not kept buyers away and homes are being sold each day. The homes that are moving the fastest, generally have the best location, upgraded masterbath and kitchen (at minimum), upgraded windows and tidy appearance. Homes with deferred maintenance, located on busy streets and or near noise, need to be priced lower than the competition or they quickly become lost in the sea of new listings and price reductions that hit the market each day.
Another consideration is that Big Sky will come online sometime near September, once these homes are available for sale, the inventory for Simi Valley-Moorpark will double. If you plan to sell now, intelligent pricing is going to determine whether your home sits or sells.
SVMAR Friday Caravan Results
Sorry this is late. 88 Homes were on Caravan.
9 - 2 Bedroom
25 - 3 Bedroom
46 - 4 Bedroom
7 - 5 Bedroom
1 - 6 Bedroom
We had 16 price reductions announced, 6 homes were re-caravan, 1 sold prior to the meeting and 7 were condos. Moorpark accounted for 16 of the homes.
As of this afternoon we have 757 homes active and available for buyers to choose from. This covers the Simi Moorpark area.
9 - 2 Bedroom
25 - 3 Bedroom
46 - 4 Bedroom
7 - 5 Bedroom
1 - 6 Bedroom
We had 16 price reductions announced, 6 homes were re-caravan, 1 sold prior to the meeting and 7 were condos. Moorpark accounted for 16 of the homes.
As of this afternoon we have 757 homes active and available for buyers to choose from. This covers the Simi Moorpark area.
Tuesday, July 13, 2004
C21 Tuesday Caravan Results
This morning's Caravan hosted 16 homes.
8 - 4 Bedrooms
7 - 3 Bedrooms
1 - 6 Bedroom
Of these homes 3 were condominiums.
We had almost as many Price Reductions on other listings.
As of this afternoon there are 716 active listings available in the Simi Valley Moorpark area.
8 - 4 Bedrooms
7 - 3 Bedrooms
1 - 6 Bedroom
Of these homes 3 were condominiums.
We had almost as many Price Reductions on other listings.
As of this afternoon there are 716 active listings available in the Simi Valley Moorpark area.
Friday, July 09, 2004
85 Listings on SVMAR Friday Caravan
Another 80+ home Caravan.
1 - 1 Bedroom
4 - 2 Bedrooms
28 - 3 Bedrooms
40 - 4 Bedrooms
12 - 5 Bedrooms
1 - 6 Bedrooms
Half a dozen of the homes had been on caravan before and were reintroduced with large price reductions. Several of the homes were offering increase commissions to the agent representing the buyer and we had 17 homes from the Moorpark area.
The frenetic calls from Selling agents that the sellers must sell immediately is now too common to raise much reaction. The buyer's market is on.
As of this evening, there are 695 active listings for the Simi Valley Moorpark area.
1 - 1 Bedroom
4 - 2 Bedrooms
28 - 3 Bedrooms
40 - 4 Bedrooms
12 - 5 Bedrooms
1 - 6 Bedrooms
Half a dozen of the homes had been on caravan before and were reintroduced with large price reductions. Several of the homes were offering increase commissions to the agent representing the buyer and we had 17 homes from the Moorpark area.
The frenetic calls from Selling agents that the sellers must sell immediately is now too common to raise much reaction. The buyer's market is on.
As of this evening, there are 695 active listings for the Simi Valley Moorpark area.
Wednesday, July 07, 2004
Sizing up the competition
The number of new listings are on the rise and showing no signs of slowing. Your home will be in for steep competition and if you are not ready, your home will sit until you either lower the price and/or make your home more attractive.
Here are ways you can size up the competition and make you home stand out.
Preview the competition - You can call me to show you the homes in your neighborhood that will be on the same show list as your home.
Make a good First Impression - Even if your home does not have the upgrades as some of the other competing homes, a neat, tidy and home that looks well maintained will give you a leg up. See my article First Impressions.
Intelligent Pricing - Be realistic in your expectations. The banks and appraisers have become very cautious; buyers may qualify for the loan but appraisals are not coming in like they used to and the banks are rejecting pushed appraisals. Buyers have 10 times the inventory to look at and they are not writing quick offers. Prices are still much higher than last year, so staying with the recent comps will be very important.
Schedule me for a Free 25 Point Home Preview Inspection.
Here are ways you can size up the competition and make you home stand out.
Preview the competition - You can call me to show you the homes in your neighborhood that will be on the same show list as your home.
Make a good First Impression - Even if your home does not have the upgrades as some of the other competing homes, a neat, tidy and home that looks well maintained will give you a leg up. See my article First Impressions.
Intelligent Pricing - Be realistic in your expectations. The banks and appraisers have become very cautious; buyers may qualify for the loan but appraisals are not coming in like they used to and the banks are rejecting pushed appraisals. Buyers have 10 times the inventory to look at and they are not writing quick offers. Prices are still much higher than last year, so staying with the recent comps will be very important.
Schedule me for a Free 25 Point Home Preview Inspection.
Market Activity 7-5 through 7-7
The market activity for SVMAR is as follows:
12 - Back on Market
42 - Changes
40 - Price Reductions
34 - Pending
77 - New Listings
Back on Market (aka BOMs or aka BOMBs) are homes that have fallen (Bombed) out of escrow for various reasons including Appraisal issues. Changes are all the listings that have had the information changed and this can include the listing price. Realtors will change listing information just to get the property back on the MLS Hot Sheet for a few days.
Total Active Listings for SVMAR is 683 as of this post.
12 - Back on Market
42 - Changes
40 - Price Reductions
34 - Pending
77 - New Listings
Back on Market (aka BOMs or aka BOMBs) are homes that have fallen (Bombed) out of escrow for various reasons including Appraisal issues. Changes are all the listings that have had the information changed and this can include the listing price. Realtors will change listing information just to get the property back on the MLS Hot Sheet for a few days.
Total Active Listings for SVMAR is 683 as of this post.
Tuesday, July 06, 2004
19 new listings on Caravan this morning.
Tuesday Carvan new inventory is as follows:
1 - Condominium
1 - 5 Bedroom Home
1 - 2 Bedroom Home
6 - 3 Bedroom Homes
10 - 4 Bedroom Homes
1 rental property was listed - two separate 3 bedroom dwellings on one residential lot in Central Simi.
1 - Condominium
1 - 5 Bedroom Home
1 - 2 Bedroom Home
6 - 3 Bedroom Homes
10 - 4 Bedroom Homes
1 rental property was listed - two separate 3 bedroom dwellings on one residential lot in Central Simi.
Saturday, July 03, 2004
Market Activity 6-30 through 7-2
Market Activity for the Simi Valley Moorpark area is as follows:
11 - Back on Market
53 - Price Reductions
54 - New Listings
41 - Pending
Total Active Listings are 649 as of this wee hour in the morning,
11 - Back on Market
53 - Price Reductions
54 - New Listings
41 - Pending
Total Active Listings are 649 as of this wee hour in the morning,
Friday, July 02, 2004
52 New Listings on Caravan
This morning's Friday SVMAR Caravan had 52 new listings. Before the listings were pitched, there were approximately a dozen price reductions and of those reductions, half had raised commissions as incentives to try and get these properties sold. The over pricing phenomenon of earlier this year has clearly run it's course. Homes that are priced above comps are not selling.
This morning's breakdown is as follows:
23 - Four Bedrooms
15 - Three Bedrooms
8 - Five Bedrooms
5 - Condominiums/Townhomes
1 - Two bedroom home.
3 of the condominiums and one home had sold before our meeting this morning.
This morning's breakdown is as follows:
23 - Four Bedrooms
15 - Three Bedrooms
8 - Five Bedrooms
5 - Condominiums/Townhomes
1 - Two bedroom home.
3 of the condominiums and one home had sold before our meeting this morning.
Thursday, July 01, 2004
Interest Rates Rise!
The Federal Reserve raised it's bench mark interest rate a quarter point (25 basis points) yesterday. This will help those who have money in savings accounts, but the rates on credit cards, auto loans and HELOCs will go up.
Higher rates will make it more expensive to borrow. This will create less borrowing, which in-turn means less money will be available in the economy.
This one quarter point move will have an impact on home buyers and could take some buyers out of the market. With the dramtic increases in real estate inventory levels and fewer buyers, price reductions will continue as we have been seeing over the last 6 weeks.
While this all sounds gloomy, over all home prices seem to be stablizing at January -March pricing. The overpricing frenzy is slowing and those home sellers that try to price over the recent sales are learning the hard way that the market has changed.
Higher rates will make it more expensive to borrow. This will create less borrowing, which in-turn means less money will be available in the economy.
This one quarter point move will have an impact on home buyers and could take some buyers out of the market. With the dramtic increases in real estate inventory levels and fewer buyers, price reductions will continue as we have been seeing over the last 6 weeks.
While this all sounds gloomy, over all home prices seem to be stablizing at January -March pricing. The overpricing frenzy is slowing and those home sellers that try to price over the recent sales are learning the hard way that the market has changed.
