I've come to the realization that there are several types of markets out there today.
We have non-distressed sellers. Bank owned homes in Simi Valley are soaring. The Wood Ranch homes continue to go on the market. Condos and townhomes continue to be listed too. And, of course, the short sales.
Non-distressed sellers are being educated that they have to price their homes back to the 2003-2004 levels.
Bank owned homes in Simi Valley are a different animal than the rest. Banks price them (for the most part) to get them sold quickly and there are multiple offers. Wood Ranch homes are being listed all over the place, but for the most part, they are being priced correctly. Condos and townhomes that are bank owned are also receiving multiple offers.
The answer? Price them right and they will sell...this one has just been adjusted to under $1 Million, so we are expecting someone to love the property just like the Sellers and me!
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