Simi Valley Moorpark - Economic Slug Fest on Trulia
Over the last few days there has been some of the more interesting discussion on Trulia over a question posed by a couple trying to decide to pay down their loan or buy a condo as an investment rental. I am very excited to see that the discussion coming from my own industry that is far more realistic than the typical Agent drivel that is posted all too often.
I have posted some additional information on the Phantom foreclosure inventory that is being completely neglected. Please stop by the links below and read up on the market projections and issues that face the Simi Valley and southern California Real Estate markets.
Simi Valley Applebees...the latest victim to business closures
All four Ventura county Applebee's locations closed last week as the owner of those restaurants faces bankruptcy. The company that owned and operated this location also owned and operated the Simi Valley Carino's in the new Simi Valley Town Center which closed it's doors a few months back. This group also owns Simi Valley Famous Dave's. Famous Dave's popularity and patronship looks to have kept this operation open. While the delcining business climate in Simi valley certainly contributed the the demise of the two franchises, reports indicate that the company operating the franchises is in serious trouble. The company running these restaurants (Breckenridge Group) has over 150 different food operations and did not close all their food operations, leading to a suspicion that probably the more troubled locations are being closed first and the stronger stores kept going till they can be sold to a new owner.
All of this is not welcome news for Simi Valley as the mantra of the citizens before the Town Center was built was that we needed a better selection of restaurants and more places to keep shoppers in Simi Valley.
I have started a series on www.homebuysblog.com about the future of Simi Valley Retail and will look at what our city faces to remain competitive over the coming years.
See the report:
The future of Simi Valley Retail
2008 turned out to be quite better than it started off. From September of 2007 up till April of 2008 the housing re-sale market came to almost a dead stop. While we had modest increases and never returned to 2007's demise, the success of the market currently needs to be looked at cautiously. The REO/Bank Owned (Foreclosure) market is driving this bus. The low prices and low interest rates are bringing out 1st time buyers and investors looking for bargains.
I recently spoke with one of the larger insurance agency owners here in Simi Valley about new home owner policies and he confirmed that 1st buyers and investors are the bulk of new home insurance policies currently. HE has seen very few clients selling and buying that move up property.
There are certainly some very good buys, terrific interest rates, but be patient and dilligent as this market is in for a very slow recovery once it finally bottoms out.
I write two blogs, this one on activerain and my other at www.homebuysblog.com. The full report on the 2008 home sales can be seen at:
http://homebuysblog.com/2009/01/09/simi-valley-real-estate-market-update-year-ending-12-31-08/
The HOA of a Condominium complex has to install a poll for lock boxes at the entrance!
What is even more interesting is that there is another 6 foot bar attateched to the security shack with more boxes. This complex is a condo conversion and two of the buildings that were in the process of conversion were stopped as the market here started to fall apart.
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Simi Valley Real Estate Specialist Licensed over 12 years, California DRE 01224852. Dedicated to earning your trust and respect long before I ask for your business. Simi Valley homes for Sale.
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