Simi Valley - Moorpark Homes & Real Estate

Understanding The Short Sale Process From A Seller's Perspective

Tue, 10 Nov 2009 23:43:30 -0600

I just posted up on my homebuysblog.com website, information for sellers so they can better understand the short sale process.

What is a short sale and can I sell my house short?

Additionally, as a buyer the information is very useful so you can better understand some of the issues that sellers have to work through in the short sale process.

In Simi Valley, only about 10% to 12% of all houses listed as short sales close escrow. For single-family detached homes in Simi Valley, we are averaging about 80 closings a month. If you look at huge number of escrows open each month, you would be led to believe that our closings should be double or higher.

There is discussion that the banks are reorganizing their short sale departments in order to stem the flow of future foreclosures, the closing ratio is still low and those planning to sell their home short need to understand their situation, be organized, be persistent and work with a professional that understands the intricacies of the short sale process.

Thanks for reading
Author - Ted Mackel Simi Valley Real Estate Agent - Keller Williams Realty
Ted Mackel is a top producer at Keller Williams Realty Simi Valley,
specializing in Simi Valley Real Estate
(805) 432-7705

Home Buyer Tax Credit To Be Extended

Thu, 05 Nov 2009 22:30:53 -0600

Earlier today the House of Representatives voted 403 to 12 to approved legislation to extend and broaden the homebuyer tax credits. The Senate had already voted and 98 to zero for approval. Over the course of the last several months I have seen Simi Valley home buyers have been snapping up properties in an effort to get their share of the $8000 tax credit. With the expiration date set for November 30th there much speculation about extending and expanding the tax credits and what form they may take.

The National Association of Realtors is one of the largest political lobbying forces in the United States which represents not only my industry, real estate agents, but also represents the interests of property owners and homeowners across America. The National Association Realtors fought hard to lobby Congress to extend and expand this tax credit. There is no doubt that NAR's efforts played a big part in today's victory.

Here are some of the points of the new expansion and extension.

First-time homebuyers credit can total up to $8000
Existing homeowners who have owned their home for a minimum of five years can apply for credit of up to $6500 on their purchase.
April 30, 2010 is the cutoff point for buyers to put a purchase under contract.
Any purchase under contract prior to April 30, 2010, will have until June 30, 2010 to close escrow.
Those claiming the credit on their next tax return will need to attach proof of purchase with their return.
Income limitations have been raised to 125,004 single buyers. And 225,004 couples.

The credit is based off 10% of the purchase price with the maximum credit of $8000 for first-time buyers and $6500 for move up buyers. California purchasers should have no problem hitting the maximum amounts as our base-level homes far exceed the national medium home price.

All that is left is for President Obama to sign the legislation.

It looks as if the shorter time frame coupled with the 60 day escrow. Expiring June 30 is an indicator that this program will not be continued. If the tax credit is a big factor in your next home purchase your window of opportunity is very small. Simi Valley has been experiencing historically low inventories in the entry-level market, combined with low interest rates and the decline in pricing, competition among buyers will remain brisk.

One advantage from now until Super Bowl Sunday is that many in the real estate industry go into hibernation mode. This could create opportunity for buyers who are persistent and diligent in the process.

Ted Mackel Simi Valley Real Estate Agent - Keller Williams Realty
Ted Mackel is a top producer at Keller Williams Realty Simi Valley,
specializing in Simi Valley Real Estate
(805) 432-7705

Simi Valley SnowFest This Weekend - Free Family Activity

Mon, 02 Nov 2009 16:07:45 -0600

Simi Valley SnowFest This Weekend - Free Family Activity

The Simi Valley Park District is hosting an day at the park complete with several tons of manufactured snow on Sunday November 8th starting at 10:00 going till approximately 4:00 pm. Bring the kids as this might be a great way to cool of this fall with the hot temperatures we have been having. It's 90 degrees today. There will be activities and an Arts & Crafts fair.

This will take place at the park near the corner of Stearns and Los Angeles across from the Metrolink Train Station.

Simi Valley - 1st time Home Buyers Tax Credit Uncertainties

Thu, 29 Oct 2009 13:14:13 -0500

Simi Valley - 1st time Home Buyers Tax Credit Uncertainties

The tax credit for 1st time home buyers is ending on November 30th. If you do not have a home in escrow by tomorrow, unless your offer is all cash, it will be difficult to get a financed purchased closed by November 30th. The Thanksgiving Holiday will shorten the time for lenders to fund loans considerably.

There is much discussion in the media about an extension, but that is still far off in the distance as the Senate and Congress discuss options to include regular home owners in the program with the 1st time buyers. The proposals really do not mean much until a bill is drafted out for discussion and vote.

The media coverage points to a favorable conclusion, but it is far too early to claim victory for future Home Buyers.

Thanks for reading Simi Valley's Premiere Real Estate Blog! Author - Ted Mackel Simi Valley Real Estate Agent - Keller Williams Realty Ted Mackel is a top producer at Keller Williams Realty Simi Valley, specializing in Simi Valley Real Estate (805) 432-7705

Simi Valley Homes Sales Volume January through September 2009

Sun, 18 Oct 2009 13:20:57 -0500

Simi Valley Homes Sales Volume January through September 2009

This is the chart for Simi Valley Single Family Detached Homes only. The trend of the entry level market dominance is evident by the graphic. Looking at the list price to sale ratio is another important factor as well. At the very bottom end of pricing the list to sell rations are close to 100%. As the pricing moves up home sales begin to average 97% and at the upper end of the market, Simi Valley homes are selling for 94% of the listed price.

Help Stop the spread of H1N1 in Simi Valley

Thu, 15 Oct 2009 15:19:13 -0500

Help Stop the spread of H1N1 in Simi Valley (youtube video clip) This is a public service announcement

The ad firm that put this together used some cool retro flash animation. I am ready to see those old Duck and Cover public service announcements. We have had a few cases of H1N1 here in Simi Valley. I am trying to stay healthy.

Simi Valley Homes Sales Volume down 11.1%

Fri, 02 Oct 2009 15:11:31 -0500

Comparing September 2008 with September 2009, this really is not very alarming other than September 2008 had some very troubling developments. Fannie Mae and Freddie Mac were taken over by the government; AIG, Indy Mac, Lehman, JP Morgan Chase and Merrill Lynch created a panic, yet more homes sold in September 2008 than September 2009. Part of this phenomenon is that the real estate market is not in recovery yet and the other part is that we are in a normal market trend period.

I have been digging around for this chart in my file cabinet and scanned this chart in so you can see how the Simi Valley Housing market moves. The chart below was put together by Lawyer's Title in 2007 and it really shows how sales slow in the fall and winter.

Breaking out the Single Family Detached Sales for Simi Valley shows that there was 22.6% fewer homes sold in September than in August of this year. We still have a way to go to get back to levels over 100 units per month.

What this means in the long run is that it is still a buyers market. The low inventory is helping sellers with less competition, but as we are seeing with a new REO Listing up on Fitzgerald this week, the price is still low even with 20 or more offers.

Simi Valley Market Update YTD through August 2009

Fri, 25 Sep 2009 00:56:40 -0500

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 recovery.

So what do you do if you are thinking of Buying or Selling?

If you are Selling you have somewhat of an advantage. The low inventory has created fewer competing homes in Simi Valley. We are moving into the fall which has a very typical pattern of few sales, even lower inventory and the going concern for most Real Estate offices, is that a large percentage of agents stop working till about Superbowl Sunday. As a seller you can take advantage of the low inventory, but a comprehensive plan of exposure for your house is critical. Typical agent marketing at this time of year will not suffice. Additionally, interviewing agents is very important as the real estate industry fall-winter-hibernation could land you with an agent that is in the middle of their hibernation period.

If you are Buying, Buyer Beware! Don't get enticed into a purchase over the $8,000 tax credit. The competition for entry level homes is stiff. Don't get saddled with a home that is loaded with tens of thousands of dollars in deferred maintenance. The credit may not go away, there are people working to extend and broaden the tax credit. Even if the tax credit expires and is not renewed, we will see a good portion of the buyers step back and ease some of the competition which will give the patient Buyer an opportunity to make a less pressured purchase. The homes above the $500,000 mark are providing some very nice opportunities for Buyers looking for a move up. The upper end tends to see homes in better condition and fewer distressed sales. This could all change on the next mortgage rate reset we are about to experience next year as the loans for purchases and refinances for 2005 reset or recast.

I keep a monthly log of the market activities at www.HomeBuysBlog.com where you can go back a search out old reports and see the trends. Follow along as a post each month.

Don't be fooled. Is the Simi Valley Housing Market Really Stabilizing?

Mon, 17 Aug 2009 00:18:27 -0500

Don't be fooled. Is the Simi Valley Housing Market Really Stabilizing?

I have written a few posts at HomeBuysBlog.com on the situation in the Simi Valley Housing Market. While things look hot, it is neighborhood and price range selective. We are about to witness another example of how people don't learn by the mistakes of others as they chase one of the lowest inventories we have had in years; all for a $8,000 tax credit. When you dig down into the sales and escrows each month several important issues come to light that are diving this market.

Interest rates are at all time lows
Inventory is at all time lows
$8,000 tax credit expires December 1st

What gets lost in translation of Realtor drivel/hype over a seemingly hot market, is that Simi Valley Sales Volume peaked in May and has been lower for the last two consecutive months. Unemployment is going to continue to be a problem for any true housing recovery. On average each month two-thirds of the escrows are SHORT SALES, which most never close escrow, leaving frustrated stranded buyers. For example Simi Valley is averaging 78 single family detached closings per month for 2009. With 265 homes in escrow, there are going to be many disappointed buyers as many of these escrows are distressed sales which will never be approved in the Short Sale process. Simi Valley has averaged under 20 Closed Short Sales per month and there is nothing to change that pace for August of September. Do the math, a real recovery is still a way in the distance.

If you are a buyer, relax, make a smart buy and don't get dragged into an impulse purchase. If you are a Seller or potential Seller, now may be the time to put your home on the market as the inventory is low and the competition in some of the price sectors is low If you are upside down on your home, I have a PSC Short Sale certification and can help you evaluate if your home fits the parameters that will qualify for a short sale. There is no cost for a consultation.

Please make sure to see:

Simi Valley Market Update YTD 7-31-09

False Recovery?

Adjustable Mortgage Reset Schedule

Simi Valley Home Sales Chart for June 2009

Sun, 19 Jul 2009 19:07:34 -0500

Simi Valley Home Sales for June 2009

The above chart is the activity for Simi Valley detached home sales in June 2009. The condo - attached market is reacting differently and should not be included in a market activity report for detached homes. The continuing trend of brisk sales in the low end of the market is no surprise. This trend is very fragile relying on

Historically low inventory
Historically low interest rates
Government tax credits and incentives

We saw in the hot markets of 2004 that when interest rates went over 6.0% that sales slowed. An increase in inventory and/or interest rates would really upset the hype we are seeing on the low end. We have not hit the bottom of this market and a recovery is far off in the distance. the Chart above is a tell tale that no balance has returned. This is a time to make a smart purchase and bad time to buy on impulse or a feeling that you will be locked out.

There is still much future trouble ahead in the market with bad loans, rising unemployment and a state government that is spending itself into bankruptcy will all negatively influence the housing market for several years to come. For one of the problems that will start hitting us next year see: http://homebuysblog.com/2008/10/15/adjustible-rate-mortgage-reset-schedule/

A full video report will be coming soon at http://www.HomeBuysBlog.com

6 Reasons why you don't deserve to be Followed Back on Twitter

Sun, 19 Jul 2009 14:13:12 -0500

I have been a Twitter user almost a year and a half. Over the course of the last six months; the new Twitter users that have been joining obviously have no idea how to use Twitter or even have a clue as to what does and does not work. If you are a violator of any of the following Twitter Faux Paux s then don't expect any quality follow backs.

1. Your profile claims to be a Social Media expert, SEO expert or Coach.

Your profile is read by people interested in following you back. FYI .... there are 100,000 other Twitter dorks claiming to be the same thing as you. You profile screams "SALES PITCH and ANNOYING DMs coming soon". Also if you are new to Twitter then you are late to the party and not an expert. Any experienced Twitter user can check you follows, your post count and DM counts and know right away if you are a player or a poseur.

2. Make money in your spare time will sitting on your rear end.

You have some lame program or product to sell. Your lameness is transparent. Get this garbage out of your profile. You are annoying.

3. Self Proclaimed GURU

You are worse than white noise on the TV. If you have to tell us you are a GURU then you are not.

4. Lead generation.

If you have a lead generation program, it must not work very well if you have to use cold calling techniques on Twitter to find people to buy your program. If you cared about your current customers, then you should have a steady stream of referrals, making cold marketing a waste of your time.

5. MLM marketing

No, I am not going to be part of your downline. Amway, Mona Vie, KM, Water Filters; what ever it is you have to sell, take it some where else.

6. Link Posters

If you are Twitter to post links and nothing else, NO ONE IS LISTENING. The only link posters that can get away with this practice is the Traditional News. This goes for Real Estate Agents who think they can just spam Twitter with listing links and Foreclosure Spam.

If you are in the RE.net space (for real) and you want to get the most out of Twitter, then you have to erase all thoughts of Realtor Drivel from your brain and engage in a manner that will seem very awkward at first. If you are truly a Realtor and plan to make money as a Realtor; then all the distracting side businesses you are involved in have to go. Your credibility is automatically discounted when your profile reads about the 20 different MLMs, coaching services and marketing programs you peddle. I have enough spam in my email, I don't need it coming through on Twitter.

IMHO - The two best resources on Social Media and Twitter are:

http://www.mytechopinion.com/

Down on the right hand side margin look for the link to @Nik_Nik's free eBook on Twitter.

If you can handle a podcast, this may be the best interview I have heard on Social Media. The interview is from Tomato Radio with Jeff Turner - @respres If you don't understand how the content of this interview applies, then don't bother with Real Estate marketing and Tech, it's hopeless.

You can find me on Twitter http://www.twitter.com/RealtorTed

or my main Blog http://www.HomeBuysBlog.com

Tribute to Chris Loveall Former Team Leader of Keller Williams Simi Valley

Sat, 27 Jun 2009 14:08:48 -0500

Tribute to Chris Loveall Former Team Leader of Keller Williams Simi Valley

March 22, 1970 - June 27, 2009

Chris Loveall past away yesterday of a possible heart attack while visiting his father. This unexpected and sudden passing is shocking to all of us who new Chris. Chris was a big part of recruiting me to Keller Williams Realty in Simi Valley just last year. Chris was very supportive of the Simi Valley Moorpark Association of Realtors serving on committees and also as a director. Please keep Chris and his family in your thoughts and prayers. You will be missed Chris.

Chris Loveall is seen here with Robert Harris Owner of Keller Williams Simi Valley and Denise Rasmussen taken this last Christmas 2008 in the Keller Williams Simi Valley Market Center.

Arrangements for Chris are as follows:

A service for Chris will be held on Sunday July 5, 2009 at 2:00pm at Griffin Family Chapel located at 101 East Wilbur Road Thousand Oaks, Ca 91360.

Please share you memories of Chris below in the comments.

Simi Valley Homes For Sale Video Tour 1267 Fitzgerald

Sat, 27 Jun 2009 10:38:11 -0500

Simi Valley Homes For Sale Video Tour 1267 Fitzgerald Road Here is another Simi Valley home to see just down the street from Mike's listing. Check out the video tour below.

Some of the great Features Include:

Dual pane windows
Upgraded HVAC
Spectacularly Remodeled Gourmet Kitchen with granite
Whole house Water filtration and softening system
Large master suite with two person Spa Tub
Mountain Valley Views
Two car garage with Third stall workshop
Additional work shed in yard with 220 electric
Flat rear yard with waterfall stream and fountain
4 Bedroom
Immaculately Maintained

For more information on Simi Valley homes for sale and Simi Valley Real Estate market conditions please visit www.HomeBuysBlog.com

HVCC is bad for Simi Valley home values

Wed, 17 Jun 2009 16:11:53 -0500

I recently wrote a post on my blog about how the HVCC is negatively affecting Simi Valley Home Sales. This video is is a must see as the new legislation is already creating major problems for Simi Valley Home Buyers and Sellers. The "True"Value for your home is under attack and a bad appraisal will only cause more home Buyer - Seller frustration.

Simi Valley Emergency Preparedness - Lesson Learned

Wed, 17 Jun 2009 01:45:37 -0500

Simi Valley Emergency Preparedness - Lesson Learned

As a young boy I was a boy scout and trained in First Aid. When Cathy and I were the owners of the Simi Valley Gold's Gym in the Target Center, we had CPR certification and basic first aid training. Well, years later you get rusty.

This past Sunday we were preparing for a large family party at my Simi Valley home to celebrate my oldest daughter's high school graduation. About an hour before the party I heard my wife screaming to call 911. She had gone over to my neighbor house and about the same time she was walking in their back yard, my neighbor making repairs to his patio cover fell off on to the bricks hitting his head. He was knocked out cold, bleeding and not moving. The wait for the fire department, paramedics and police seemed like and eternity. I soon realized how little first aid skills I remembered. A few other neighbors heard the yelling and came to help us. I went into the house looking for a cell phone or regular phone to see if I could call my neighbor's family and there was no cell phone or pone with a programmed address book, nor was there an emergency list of numbers anywhere in the house. When the police arrived, they helped locate a phone book that was not well organized and they went though the book trying to hunt down contact information for his adult children and a possible cell phone for his wife.

My neighbor was very lucky, by the time the paramedics arrived he was talking and moving his arms and legs. He broke a couple of ribs and hurt his shoulder along with a concussion, but is already home from the hospital.

I learned that I need an emergency list of important contacts and family members on the refrigerator; also that I need to go get my first aid training and CPR certification updated. I feel fortunate that I live on a street where we are all not total strangers, but we all walked away from that day thinking about how we could improve our own Emergency Preparedness.

Simi Valley Homes For Sale Inventory Update 5-09

Tue, 19 May 2009 11:28:38 -0500

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 break it down by price ranges, the higher we go the worse the news is for home sellers.

The index typically works that less than 5 months supply is a Seller's market, 5-6 months is a balanced market. over 6 months is a Buyer's Market. The Higher end homes in Simi Valley all have over a 13 month supply.

I will have more on Simi Valley homes for Sale at http://www.homebuysblog.com soon.

Simi Valley E-Waste Recycling May 16, 2009

Tue, 12 May 2009 11:26:22 -0500

Simi Valley E-Waste Recycling May 16, 2009

This Saturday May 16th, 2009 is the day to get rid of al the electronic junk you have stored in the garage. Old computers, Monitors, TVs, VCR, you name it. Bring your waste to the Simi Valley Unified School District office at 875 Cochran Street between 9:00 am and 3:00 pm. The Simi Valley Education Foundation will earn money for every pound of your electronic junk.

Simi Valley Real Estate Market Commentary (Video Blog) May 2009

Mon, 11 May 2009 20:21:32 -0500

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.

Another Great Reason to Dump Micorsoft - OpenOffice.org

Wed, 22 Apr 2009 11:15:30 -0500

The cost to own a Windows based PS is nebulous at best as Microsoft regularly offers newer version of their Windows operating System and their Office Suite for word processing, spreadsheets and presentation software in Word, Excel and Power Point. These regular major upgrades typically require an upgrade in hardware and the purchase of a flavor of the new product. Both Micorsoft and Adobe could learn something from software developer Intuit who's Quick Books and Quicken products seemed to have the most reasonable upgrade pricing. While Microsoft's dominance is troubling to many and others just accept their products in lemming-like fashion, there are alternatives that are compatible with Microsoft Office documents. Since there is a good chance you will get a Word doc, Excel file or Power Point presentation as an email attachment, it will be difficult to completely unplug form the Microsoft grid.

My departure from the Widows based Operation System challenged me to see if I could leave MS Office dependence. Five months prior to leaving the Windows OS, I have broke completely with Microsoft's Outlook and dove into gmail usage full time. I knew that after five months of being Outlook free, that I could do the same over the rest of the Office Suite if I could deal with the occasional MS Office attachments that come to my email. Being a Adobe Acrobat user it is far more advantageous to convert all files to PDFs that will be attached to emails, but the cost of Acrobat and the fact

that most users are not willing to go past the free offering in Acrobat Reader, MS Office docs will be attached to email docs for a while to come.

My solution to dumping MS Office completely came in three forms.

My first option was to use Google Docs. However the formating really did not hold up as well as I needed.
My second option was just to use Apple's iWork. While iWork is fine 80% of the time it seems that MS Office docs I tend to share with others has very complex formating. Many of the documents I deal with are forms and files with a TOC, tables and footnotes. There are times it just does not work with iWork to my satisfaction.
Last comes OpenOffice.org This is a free suite owned by Sun, it works on many different Operating Systems including Windows and allows me to open Word, Excel and Powerpoint files. So far it looks like the docs I get hold up well with this software and allow me to share those files without worry. While I still use iWork the majority of the time, I now have open office as a backup with the few trouble some MS Office docs that are sent my way.

Just to side track everyone a little on the Windows side, there is a free PDF printer driver that will allow you to turn any document on your Windows PC that you can send to your printer. It will allow you to combine several different files into one PDF file as well. That is the Bullzip free software.

If you are tired of the expensive upgrading of MS OFfice or have moved to a different operating system and want to break ties with Microsoft, products like OpenOffice.org are providing an opportunity.

Tea Party April 15th Protest set to display outrage over Tax Increases

Sun, 12 Apr 2009 13:02:09 -0500

Locally, if you have not notice the sales Tax Increase or your vehicle registration fees and the clever ways our state government has increased your taxes by finding a loop hole to label taxes fees....your day of reckoning is coming. This problem is not only isolated to our state, but our federal government as well. A national effort to bring attention to the serious missteps of our beltway politicians is scheduled to take place on Tax Day, April 15th. In California we can use this day to protest both Federal and National Taxation, the stimulus bill & TARP faux paux and career politician waste.

The two closest demonstrations you can participate in will be at the Ventura County Government Center and the Los Angeles City Government Center in Van Nuys. You can learn more at Tax Day Tea Party What you see on the news and what is happening with the bail out money is not even close to reality. The waste and profiteering the banking industry is engaged in while crying 'Poor" is disgusting. We are fortunate to live in a country where protest can not be silenced. I will be out at the demonstration in Van Nuys with my video camera to catch the action.

Video Blog - Simi Valley Real Estate Market Update

Thu, 09 Apr 2009 14:28:50 -0500

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 where this is going.

Simi Valley Real Estate March 2009 Closings coming in at the Wire

Tue, 31 Mar 2009 16:07:20 -0500

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 market.

Make sure to set your RSS reader to pick up the feed from http://www.homebuysblog.com for the monthly market report on Simi Valley Real Estate and other important Simi Valley news related to home ownership and living in Simi Valley.

Simi Valley Real Estate Reality - Why Multiple Offers Don't Mean Squat!

Wed, 25 Mar 2009 12:39:50 -0500

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 like the recovery is underway. Well, I'm going to take the air out of this balloon, before the trouble begins again.

My REO listings all but one have multiple offers. Only a few of the offers on each property were serious. The rest were testers.
My Buyers are all up against multiple offers. I am winning some of those battles with some key strategies I have been using for the last year.
The Simi Valley closings for March 2009 right now look no better than 2008 in volume; in price - the decline is real.
The average closing price in March currently is $6,000.00 below February 2009. This is about a 1.7% decline in the price sector with all the action.
More than half the single family detached homes that have sold for less than $400,000. The most activity has been at the $350,000 price.

The newspaper, TV, Magazine all say that sales are way up. What we need to look at is, that the market is different zip code to zip code and Simi Valley, while looking better than the fall winter of 2007 - 2008, still has a long way to go before a recovery can be claimed.

Why are there multiple offers, shrinking inventory and declining prices?

Most properties coming onto market are in very poor condition with serious deferred maintenance issues.
50% of the sales are Foreclosures. Buyers want to "stick it to the man" and see how low the bank will limbo.
Short-Sales are like a wounded water buffalo in the midst of a pack of hyenas. Buyers figure the bank is already on the ropes.

Low interest rates, tight inventory and tax credits are are getting buyers excited, but the numbers clearly show that a recovery just is not here yet for Simi Valley Real Estate.

What should you do if you are a buyer?

BE PATIENT, do not get whipped up into an eBay auction mentality.
Make a smart buy and don't worry if you are up against multiple offers.
Pick the right agent to help you get an offer through in a multiple situation, if the home is the right home for you. Picking the right agent is easier said than done.
Subscribe to my two Blogs via RSS or email and check the monthly posting on my Simi Valley Real Estate Market Updates page.

Apple Mac - Real Estate Agents Making The Transition

Tue, 24 Mar 2009 10:08:29 -0500

Apple Mac - Real Estate Agents Making The Transition

I 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 some hope to free myself of the bondage Bill Gates has kept me in for a long time.

Unfortunately the Real Estate industry believes the fax machine is an advanced business tool and our software vendors only know how to write for Internet Explorer using Active X. These limiting attitudes are crippling to a business that is all about promotion and the exposure of our client’s properties.

Apple’s move to the intel chip allows our industry to finally make a 90% break away from the Microsoft anchor and work with computing tools that are easier to use and far more efficient. While the cost to move to a Macintosh may be a concern, the efficiency and the material you can create quickly takes the sting out of the move. The following is a list of what you will need to make the switch.

MacBook Pro 15” - You can get away with a lower model but if you plan to use video, then this is the machine to get. Also the 15” has a backlit keyboard and a large display for showing homes while out on the road.

iWork 09 - Goodbye Microsoft Office!!! iWork will make the beginning computer user look like a professional desktop publisher in minutes. I am not sure how to convey here how this program blows Office out of the water. As a real estate agent I have to communicate ideas in a sales setting. Microsoft Office produced documents look like kindergarten finger paintings next to iWork documents. The ability to manipulate pictures and charts is so fun and easy I am looking for excuses to open up iWork every day to see what I can create. Apple’s drag and drop genius is taken to new levels in this productivity suite.

If you are a Power Point user, you will never go back after using Keynote. I will challenge you to a presentation duel if you don’t believe it. Again the quality of the graphics, transitions and builds leaves Power Point in the dust. I have already used Keynote at the Women’s Council of Realtors Luncheon, a business tech seminar I gave, a PDF training class I did for real estate agents and I will present next week on real estate video. I will have a Keynote listing presentation worked out soon.

Numbers - the replacement for Excel, is a statical communicator’s dream. The charts and graphs are far higher in quality over Excel and the manipulation is 100 times easier.

Looking at the Excel chart (the first chart) compared to the iWork Numbers chart, it is pretty easy to which chart from the most basic chart settings wins.

The iWork suite builds on Apple’s 25 year tradition to make all the commands similar between products so as soon as you learn one product you can easily move to the next.

A system wide dictionary is built into the operating system so no matter what you are doing your spelling can be fixed on the fly.

Next you will need either Parallels or Fusion. These are virtual Machine programs that allow you to run Windows on your Mac at the same time you are running OS X. If you still have your Windows XP installation disc and serial number then you are all set to run Windows on your Mac. Currently the MLS systems and Win/ZipForms need Active X to run. Having Window installed will give you the ability to use your MLS and Contract forms.

Last you will need Aperture to manipulate your photos similar to photoshop.

There is free software on the internet to work with Microsoft Office documents called OpenOffice. While iWork opens all my Word and excel docs, I had trouble with a form in Excel where the drop down choices did not work in iWork’s Numbers.

What really makes this whole experience even better is that Apple sells a service, “One to One”. For $100.00 you get one hour a week FOR AN ENTIRE YEAR (by Appointment) with a trainer at the Apple store that will help you with any Apple product. This service pays for itself in just the first couple of visits.

Real Estate Agents of today and the future have to be mobile, tech savvy and be able to communicate visually. If you are considering another desktop computer you will be making a big mistake. While your files and contracts are anchored to your home office or regular office I will be on WIFI in Starbucks showing homes on the MLS to my clients on my MacBook Pro enjoying a Cafe Latte.

A blog post is a hard place to go into detail and properly extol the virtues of Apple’s offerings, but the mantra that “you’re into graphics so you need a Macintosh”, is a wrong statement. You’re darn right I’m into creating and communicating ideas that make it easier for my clients to understand, but what gets overlooked, is that a Macintosh as a business tool gives the real estate agent an edge, because a large part of what any sales person does in engage in the art of persuasion. This ability to easily create work to communicate with next to no hassle, puts Windows and Microsoft office in second place.

Places to visit Simi Valley's Santa Susana Train Depot

Tue, 24 Mar 2009 01:20:18 -0500

If you are looking for something a little different to do on the weekends. Something you can take the kids to; then the Santa Susan Train Depot located on the east end of Simi Valley is open from 1:00 pm to 4:00 pm on Saturdays and Sundays. The Santa Susana Historical Train Society maintains an HO scale model train layout depicting the 1950's Simi Valley Area. Please visit the Depot's site for more information viewing the trains as I noticed their website has some conflicting information on when the model trains run. http://www.ranchosimifoundation.com/

The original 1903 depot has been restored and houses the model train layout. you can enjoy a piece of our Simi Valley history an enjoy a large model train layout maintianed by the Santa Susana Railroad Historical Society.