Earlier this decade when money was flowing, homes were selling like hot cakes and cab drivers were flipping houses like seasoned real estate investors, many wondered if they would ever be able to afford a house in Simi Valley's Wood Ranch. My, have the tables turned in just four short years. The good news for those who were forced to the sidelines and wondered if Wood Ranch would ever be attainable, is:
- Low interest rates,
- A banking industry that will be reeling for years as its slugs through hundreds of thousands of bad mortgages and
- The California economy that's going to take a long time to get straightened out
Home pricing throughout Simi Valley will remain attractive for a long time. The reason why? Values will not rise dramatically for a while because purchasing is tied to provable income which is a lender requirement. Buyers can only get loans based on their ability to repay and unless a property is very special, it is going to be hard to get buyers to pay above appraisal values and even more difficult to get buyers to take on payments at their upper approval limits.
Simi Valley home Prices definitely hit a bottom last year, our recovery will be a very slow process. So if you are contemplating a move to Simi Valley's Wood Ranch, now is the to begin the search. For the breakdown by year see Simi Valley Wood Ranch Home Sales
The Following Tables breakdown the Simi Valley Wood Ranch Community Home sales activity by price range for the years 2006 through July 2010. If you are a Wood Ranch Home owner this will give you a idea on how the market has reacted since it's high in 2006 with market timing and volumes for the different price ranges. To stay on top of what is happening in the Simi Valley Real Estate Market make sure to book mark http://www.HomeBuysBlog.com