Simi Valley Real Estate is #6 on the Business Week most improved home sales list (national)

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 multiple offers

True - Buyers are getting frustrated

False - You better buy now before you are locked out

True - Now is a good time to buy

True - You have time to make an educated smart buy

True - If you miss out on a property there will be more and better properties coming on market.

I am an advocate of making a smart buy and being able to walk away from a buy or escrow if the situation is not right.

Businessweek has Simi's 93065 at Number 6 on thie list:

No. 6

Simi Valley, Calif.
ZIP: 93065
Metro area: Oxnard-Thousand Oaks-Ventura
Annual home sale increase: 77%
Fourth-quarter sales: 207
Median home price: $405,000
Median home price change: -16.3%
Non-distressed sales percentage: 57%

A quick look shows that the number of homes sold is up 77%. That was relatively easy as this time last year the market was so dead even a defibrillator could not jump start buyers into action. Notice that the median price is down, not even and not positive. Also notice that the distressed market is accounting for nearly 43% of all sales. Notice that this report includes only the west side of Simi Valley which is home to a larger percentage of higher value homes. I am sure if we add the numbers in from the 93063 zipcode that the report would be much different. Business week's most improved home sales list might look different if we took it by area and not individual zip codes. With that said, it is true that certain areas are relatively holding their own and not caught up in the decline, but Simi Valley has seen a good drop in price citywide.

What does this all mean for those looking to make a purchase now.

1. Don't get caught in the hype of a low inventory market,
2. do your homework,
3. get your financial house in order,
4. when you find that house that gets you really excited then be ready to work diligently.
5. Call Ted Mackel ........ :)

Please be sure to stop by www.HomeBuysBlog.com for more up to date information on the Simi Valley Real Estate Market.