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Ted Mackel Simi Valley Homes For Sale Simi Valley Real Estate Agent

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NAR's Dog & Pony Shows Makes our Jobs Harder

09-04-10
Ted Mackel Simi Valley Homes For Sale Simi Valley Real Estate Agent

Every-time I hear NAR's outlook on the Real Estate market I want to crawl under a rock.  The market will recover, but the real estate market is going to recover in it's own time on the market's own cycle.  Why my industry thinks that it can hype the real estate market into recovery is one of the most professionally embarrassing things I have to put up with almost daily.  This is great Video on Yahoo Finance that calls out the error and problems NAR creates for it's members with it's Polyanna-ish prognostications.  Before anyone claims that doom and gloom is not the proper way either, I agree,  but how about just telling it like it is?

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Double Dip before housing market recovers? I am so not popular in the industry LOL!

08-16-10
Ted Mackel Simi Valley Homes For Sale Simi Valley Real Estate Agent
Here is some fun from Youtube. Real recovery is far off, do we have another decline coming? I hope not. The banking industry still has their hands full with problematic loans. I use a product, foreclosureradar.com and my market there will be plenty of short sales, modifications and foreclosures for long time to come.

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30% loss in value - Simi Valley Wood Ranch Home Sales Data 2006 through 2010

07-24-10
Ted Mackel Simi Valley Homes For Sale Simi Valley Real Estate Agent

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

Simi Valley home Sales Report for June 2010

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June 2010 Simi Valley Home Sales Are Unimpressive As Tax Credits Fails to Produce Stimulus Promised

07-23-10
Ted Mackel Simi Valley Homes For Sale Simi Valley Real Estate Agent

Simi Valley June 2010 home sales might not have lost ground from 2009, but surely the point of the federal tax credits should have produced more than a gain of only seven homes in the detached category. Home sales year-over-year are not improving much at this point. The positive outlook is that the bottom the Simi Valley housing market hit in May of 2009 has not been retested. The massive volume of properties with nonperforming loans will continue to keep the reigns on this market. The climb out will continue to be slow and long drawn out. I've posted a more detailed reporting of the activity from June and this article June 2010 home sales report for Simi Valley detached homes.

Number of Simi Valley Homes Sold 2006 through 2010

Simi Valley home Sales Report for June 2010

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What Buyers & Many Real Estate Agents Do Not Know about Distressed Property

06-29-10
Ted Mackel Simi Valley Homes For Sale Simi Valley Real Estate Agent

dunceThe text below is from a job posting that was just blurted out over Twitter in my area. BofA has facilities here so it is most likely a position up there. I have bolded several items of interest so you can see what a mess this whole Short Sale - Foreclosure market is.

Managing a portfolio of approximately 400 loans from referral through to sale of property. This is a full time position from 8am-5pm. Would prefer someone with foreclosure and/or mortgage experience however it is not required as we are willing to train. Must be proficient in Microsoft Office, especially Excel. Contractor must be able to work in a fast paced environment, quick learner, be able to multi-task and think outside the box. Candidate must be detailed oriented and work independently. Requires excellent written and verbal communication skills as candidate will be working with attorney's, internal/external customers etc.


Keep in mind they are offering a pay scale of $17 - $18 per hour.

  1. Managing a portfolio of approximately 400 loans from referral through to sale of property. I have talked about the volume that each individual is working with in other blogs, here it is in writing, 400 files - How many real estate agents manage 400 files with no team?
  2. This is a full time position from 8am-5pm. Yep deal with 400 files and you only need to be in the office from 8:00 to 5:00
  3. Would prefer someone with foreclosure and/or mortgage experience however it is not required as we are willing to train. Holy Cow! These are complex real estate issues - they are willing to train?
  4. Work in a fast paced environment, quick learner, be able to multi-task and think outside the box. This is a major coporation, the words Fast Paced and Think outside the box aere not very coporate nor will the environment allow this.
  5. Candidate must be detailed oriented and work independently. Again people, we are talking about the banking industry and a coporate environment - independently LOL!
  6. Candidate will be working with attorney's Oh this is great, a trainee with an impossible work load now has to function with attorneys?

The point I want to make with all this is, that if you never understood why your offers aren't getting through, the multiple offers situation, why your short sales are taking forever, this is why. You can see that they train inexperienced people at ridiculously low pay scales and given workloads that are impossible, we are talking about 400 properties with multiple issues per property not including eviction issues, repair issues, individual market condition issues per property. Even to think that one person from eight morning till five at night can take this on and do a good job just hammers home what a mess the banking industry is in. This is not just the tip of the iceberg in the distressed market, this one position offered is the little speck at the top of the iceberg. i am thinking of sending an e-mail of this to my clients so they better understand what we're dealing with when going after distressed properties.

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