real estate: NAR's Dog & Pony Shows Makes our Jobs Harder - 09/04/10 10:44 AM
Every-time I hear NAR's outlook on the Real Estate market I want to crawl under a rock.  The market will recover, but the real estate market is going to recover in it's own time on the market's own cycle.  Why my industry thinks that it can hype the real estate market into recovery is one of the most professionally embarrassing things I have to put up with almost daily.  This is great Video on Yahoo Finance that calls out the error and problems NAR creates for it's members with it's Polyanna-ish prognostications.  Before anyone claims that doom and gloom is not … (5 comments)

real estate: Understanding Simi Valley Homes For Sale - Real Inventory Levels Clash with MLS Reports - 03/24/10 12:26 AM
Understanding Simi Valley Homes For Sale Inventory Levels
Numbers are thrown around quite liberally by the media and my industry. The first thing to always consider is that local real estate is local for a reason and when looking at market conditions a hyper-local focus is necessary. Even when you dissect the market data for a city the size of Simi Valley, sales cannot be averaged citywide and the median number we see does not reflect this very delicate market.
For example, all throughout 2009 Simi Valley averaged approximately 160 to 180 single-family detached homes for sale at any one given … (4 comments)

real estate: Simi Valley Homes Sales Drop Again Decreasing Sales Not Unusual - 03/03/10 11:21 PM
February 2010 saw only 59 closed sales in Simi Valley for Single Family Detached homes. This is a drop from 74 closings in January and 98 in December. At first glance this is a concerning number, however for the last few years this really matches pace for February sales. There are many mixed signs in the Simi Valley real estate market, however the average sales price has remained stable over the last 12 months and has increased slightly. Looking closer at the closings, another interesting statistic sticks out. 60%-74% of all closings are being financed with 20% down and another 10% … (0 comments)

real estate: Simi Valley Market Update YTD through August 2009 - 09/25/09 12:56 AM
Simi Valley Market Update YTD through August 2009
More of the same.  Sluggish Simi Valley Market results still lag behind last year.  The only thing keeping this market alive is the Low Inventory, Low Interest Rates and the $8,000 tax credit which is about to expire.  Unemployment for California is expected to peak in December at over 12%.  No matter how hard the government, my industry or the news wants to cheerlead us out of the slump and recession, we still have a way to go.  Once some real reliable stabilization appears, it will still be a long - almost flat … (0 comments)

real estate: Simi Valley Homes For Sale Inventory Update 5-09 - 05/19/09 11:28 AM
Simi Valley Homes For Sale Inventory Update 5-09
This certainly is a crazy market for Simi Valley Real Estate.  Multiple offers, low inventory prices not moving up, low interest rates, tax credits.  If you want to see where the action is look at the chart below.  The Green line is very important this is how the inventory is pacing with the sales.  It is clear that once we get over the $600,000 price range in Simi the market is very different.
The unsold inventory index is calculated by dividing the inventory by the aver number of homes sold each month and when we … (2 comments)

real estate: Simi Valley Real Estate Market Commentary (Video Blog) May 2009 - 05/11/09 08:21 PM
Simi Valley Market Commentary (Video Blog) May 2009 This Simi Valley Real Estate market is a roller coaster and if you have been caught up in the craziness, then watch this report so you can catch a breath and think about getting caught up in a eBay style auction frenzy. Cooler heads will prevail. We're at the end of the beginning of this foreclosure mess so don't get carried away just yet. … (0 comments)

real estate: Video Blog - Simi Valley Real Estate Market Update - 04/09/09 02:28 PM
Video Blog - Simi Valley Real Estate Market Update
 

 
The archived reports are at my main Blog http://www.HomeBuysBlog.com  Please stop by and subscribe via RSS or email if you would like to be notified when future reports are posted.  The market continues to remain interesting and it will still be a while before any of us can make a claim as to where the market is headed.  One key issues sticks out and that is the low inventory.  Once the market returns to a more balance inventory and balanced sales across all price ranges will we really see … (0 comments)

real estate: Simi Valley Real Estate March 2009 Closings coming in at the Wire - 03/31/09 04:07 PM
Simi Valley Real Estate March 2009 Closings coming in at the Wire
We will know how good March was by Friday.  Usually the MLS is updated within 24 to 48 hours of each closing, so I will wait till Friday to post the Monthly activity for Simi Valley Real Estate.  So far about 15 closings were posted in the last 24 hours bringing the Single Family detached closing to 76 as of this post.  This is good news to see the trend upward and tough news for buyers as the shortage in inventory will create tough competition for was is on the … (0 comments)

real estate: Simi Valley Real Estate Reality - Why Multiple Offers Don't Mean Squat! - 03/25/09 12:39 PM
Simi Valley Real Estate Reality - Why Multiple Offers Don't Mean Squat!

I track every month, the closing statistics for Simi Valley and Moorpark sales on my Wordpress Blog, www.homebuysblog.com.  I started this detailed look last year and took the monthly closing data back to 2006 as our MLS systems until recently did not archive data. Our MLS system would purge the records that were three years or older and the database software could not handle the volume.  
I keep hearing from agents about how the market has bottomed out and that there are multiple offers on every property and that it looks … (2 comments)

real estate: Apple Mac - Real Estate Agents Making The Transition - 03/24/09 10:08 AM
Apple Mac - Real Estate Agents Making The TransitionI finally returned home to Macintosh after a 18 year exile into the realm of DOS & Windows.  Going from the Apple GUI to Wordperfect in 1990 was a shocker and then having to learn the command line to maintain my own 3 node coax Lantastic network was a major step backward in computing for me.  I had no choice.  Apple did not support the software I needed to run my business back then and it was only until after Apple moved to the intel chip with OS X did I finally have … (13 comments)

real estate: Keller Williams Simi Valley Welcomes New Team Leader Karen Betancourt - 03/13/09 01:20 PM
Karen Betancourt New Team Leader for Keller Williams Simi Valley
Karen’s career in the real estate industry began in 1984 when she obtained her real estate license and  began as a residential sales agent focusing in the Moorpark and Conejo areas for Century 21 Village Oaks.  She was asked to become the sales manager of the company 3 years later.  Approximately 2 years later, the owners of Century 21 Village Oaks merged with Century 21 Ambassador which was owned by Bob Majorino.  At that time, Karen worked closely with Bob Majorino in planning and executing the merger of the two companies … (4 comments)

real estate: Simi Valley Real Estate is #6 on the Business Week most improved home sales list (national) - 03/11/09 06:55 PM
Simi Valley Real Estate is #6 on the Business Week most improved home sales list (national)
I am not one to hype, so I will give you the good and the bad of this article.  As you dig into the details of Business Week's report on Simi Valley real estate, the trend of shrinking inventory and delcining prices is still in full motion.  Typically shrinking inventory is a stabilizing factor and helps prices to rise.  Not so in this case as there are major economic factors that are keeping a market turn around at bay.
True - Houses are selling with … (2 comments)

real estate: SMOKING HOT!!! calREDD California Statewide MLS Software - 03/09/09 03:34 PM
Today I was fortunate enough to see the demo of the calREDD MLS software system and I was very impressed.  My local MLS is a Rapattoni customer and my secondary MLS is a Tempo customer.  Both these systems can only run in Internet Explorer and Tempo is something straight out of the Flitnstones Cartoons.  I think the Tempo crew forgot that it might be a good idea to include some end users in the design as the GUI is not friendly at all.  This is where the Concentric Evolution MLS sofware exceeds.  Instead of trying to revamp or improve old technology, … (4 comments)

real estate: Simi Valley Real Estate Market Charts for February 2009 - 03/04/09 11:46 AM
Simi Valley Real Estate Market Charts for February 2009
 
Below are some visual illustrations of the Simi Valley Real Estate Market Climate.  For the detailed report please see the Simi Valley Real Estate Report at www.HomeBuysBlog.com






I create these charts from information taken from Ventura Conty Regional Data Share MLS.  The Charts are created in Apple's iWork '08 Numbers.  The Simi Valley Moorpark Multiple Listing service and Crisnet MLS systems do not have historical sales data earlier than 2006.  CRISNET had software limitations which required CRISNET to purge old data from the Database and … (0 comments)

real estate: 2008 Simi Valley Home Sales Wrap Up - 02/10/09 10:50 AM
2008 Simi Valley Home Sales Wrap Up
The chart below shows the List Price vs Sales Price for each month in 2008 for Single family detached homes. The overall decline in detached home prices for 2008 was 24.26% while the average list price adjusted downward 26.90%.  The average discount Simi Valley home buyers realized on their purchases was only 3.29% of the list price.
For more deatil at Homebuysblog.com  2008 Year Ending update 

Copyright 2009 Ted Mackel. Non-commercial use permitted with attribution. If you would like to use this chart, please contact me.
(5 comments)

real estate: Simi Valley Keller Williams Office Profit Shares in a tough market slump - 02/03/09 11:57 PM
The following press release was not too much of a surprise to the agents of the Simi Valley Keller Williams office.  While the Simi Valley office is only 3 years old, the Simi Valley Keller Williams office started profit sharing with it's agents in October 2008.  This is a remarkable accomplishment for a very difficult real estate market and in the midst of our competitors closing offices or closing down completely. 
The company philosophies in the press release below are a big attraction to agents looking to think outside the box of the traditional real estate brokerage.  I choose to work … (2 comments)

real estate: Simi Valley - Moorpark Economic Slug Fest on Trulia - 01/26/09 02:40 AM
Simi Valley Moorpark - Economic Slug Fest on Trulia
Over the last few days there has been some of the more interesting discussion on Trulia over a question posed by a couple trying to decide to pay down their loan or buy a condo as an investment rental.  I am very excited to see that the discussion coming from my own industry that is far more realistic than the typical Agent drivel that is posted all too often.
I have posted some additional information on the Phantom foreclosure inventory that is being completely neglected.  Please stop by the links below and … (0 comments)

real estate: Simi Valley Moorpark 2008 Year End Sales figures and Market Update - 01/16/09 12:47 AM
2008 turned out to be quite better than it started off.  From September of 2007 up till April of 2008 the housing re-sale market came to almost a dead stop.  While we had modest increases and never returned to 2007's demise,  the success of the market currently needs to be looked at cautiously.  The REO/Bank Owned (Foreclosure) market is driving this bus.  The low prices and low interest rates are bringing out 1st time buyers and investors looking for bargains.
I recently spoke with one of the larger insurance agency owners here in Simi Valley about new home owner policies and … (0 comments)

real estate: Simi Valley McKeon Condos Lose over 50% in value - 01/10/09 01:02 AM
The east Simi Valley McKeon Condos, otherwise known as the Vista Del Monte(s) have lost more than 50% of their value.  At the height of the market run up, the Simi Valley McKeons were selling at $310,000 to $320,000.  Currently units in the McKeon complex have closed at  $145,000 up to $154,000.  While this much of a drop may signal the we may be nearing a market bottom, it is a telling tale as to how big the housing market free fall has impacted Simi Valley real estate.
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real estate: Simi Valley Home Sellers Save Money on Title Insurance - 12/22/08 09:42 PM
Simi Valley Home Sellers Save Money on Title Insurance
In the wake of the LandAmerica Bankruptcy and laws that will go into effect January 1st for California Title Insurance; I have the pleasure to tell you that the playing field for Title Insurance companies is being leveled.  LandAmerica's bankruptcy news brings attention to a part of every real estate transaction and thus gives me this opportunity to help Simi Valley home sellers make an informed decision when choosing a Title company.
That's right you get to choose the Title company you want to use.  When home sellers are faced with the … (1 comments)