Market Update for Simi Valley, Dec 2010

While experts are still greatly pessimistic of the housing market for the upcoming 2011 year, Simi Valley is still improving. Simi Valley homes for sale have increased by 6% since December 2010. There were a total of 318 homes in Simi Valley that hit the market from December 1^st – January 1^st, 2011; with houses sold dominating the statistics at 118 homes. Currently, as you’re reading this, there are 104 active homes and 96 pending or contingent homes ready for a buyer to snatch up! Most of them have an average of 96 days on the market.

 

Troop Real Estate, where Lefton and Associates is located, is still dominating the Simi Valley Real Estate market, boasting about $39,000,000.00 in home sales! Which up about 21%! Don’t be fearful of the Simi Valley Foreclosures, as they can potentially present the biggest “bang for your buck”. There were a total of 433 REO and Bank Owned homes during the final quarter in 2010, down from 501 from the year prior. There are some pretty decent homes that are REO and Bank Owned currently on the market now, in the desired Wood Ranch and Big Sky developments, specifically. Buying a home is equity that will increase over time, so, if you are already buying one below market value, you are in the “winning” position to start!

 

In California, as a whole, there were almost 66,000 foreclosure filings for the month of December – 8,700 of which were actually sold. The average California foreclosure home sales price is $429,832 and the state shows a sales savings of 41% to home buyers! Have you heard the term “It’s a buyer’s market”? Nothing could be further from the truth right now! As with any investment, it is recommended that you buy low and sell high; which equals equity in your pocket.

 

Mike Lefton, Broker

Lefton & Associates

DRE Lic #: 01239632

(805) 407-6453