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.
