Every month I post the YTD Home Sales numbers for Simi Valley on my blog at http://www.homebuysblog.com.  The encouraging news is that volume is up from last year, inventory is shrinking, however sellers are still frustrated by declining prices and  patient/methodical buyers.  Struggles ahead include unemployment that is over 8% for California, our current state budget is a disaster and that our own State Assembly/State Senators tried to sneak all kinds of new taxes (disguised as fees) into new legislation.  The climate for a recovery has not arrived.

If you you think I have a bearish outlook for Simi Valley Real Estate,  you are partially correct.  What I know from experience is that times like these create wealth for those who are positioned to make smart purchases now.  Interest rates are at 37 year historical lows.  The government is trying everything it can to cause a recovery that is not going to ripen for a while.  While our elected officials flounder in stupidity, they will do things that will create opportunity and this interest rate drop is one example.

The experience I spoke of earlier is the home I bought in 1994....a 3 bedroom 2 bath, 1500 sq ft Kingspark in central Simi Valley (still have it as a rental).  I paid $167,000 and at the top of the market, in the late 80s it was selling in the $200,000s.  Rates were below 10%, Fannie Mae offered me a 3% down payment and no mortgage insurance. The house fit my needs, I had no idea if the market had bottomed out, but I saw the opportunity and now wish I could have bought several more back then.

We are in the same position today as I was in 1994; opportunities will make themselves available we just have to be smart and ready to act when it is time.

Please check out the charts below and visit the full report on the figures for Simi Valey Moorpark Home Sales at http://homebuysblog.com/2008/12/10/simi-valley-moorpark-real-estate-market-update-nov-2008/

Below are a couple of excel charts I created to give a better visual picture for the last 3 years.

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