Posts Tagged ‘Simi Valley real estate’
Headline Spotting
February 16th, 2011
If you want to follow the trends, just follow the headlines. In the past two weeks we have seen headlines pointing to a more positive real estate market. From the Huffington Post and other news outlets, 30-Year Mortgage Rates Top 5%. Why is this positive? As interest rates creep up, sooner or later home buyers begin to notice. The sentiment that there is no hurry, that an even better deal will be there tomorrow, begins to slip away. As this article points out, if interest rates rise from 5% to 6% and the price of a home drops from $500,000 to $450,000, the actual cost of the home over 30 years will be $90,000 higher.
From the LA Times, California Luxury Home Sales Jump 21% (even the wealthy like a bargain). And the Wall Street Journal, Cash Buyers Lift Housing, cites data from the National Associations of Realtors indicating 28% of home sales last year were all-cash deals – double the rate in 2008.
Finally, from the LA Times again, Now May Be the Time to Buy a Home. Says the usually pessimistic economist Christopher Thornberg, principal with Beacon Economics in Los Angeles, “Certainly, we’re pretty sure we’re at the bottom” for home prices, as quoted in the luxury home sales article.
What does it all mean? If you are a home buyer, it may be time to step up to the plate. Stories of homes selling in multiple offers are not uncommon. This means you could soon find yourself paying both a higher interest rate for your mortgage and a higher price for your home.
If you are a seller who is buying up, now may be the time to pick up that dream home. And if you are selling because of a personal or financial situation, don’t wait for prices to rise dramatically unless you have a lot of time. During the 1990s, in the LA area,it took 9.5 years for home prices to regain their 1990 peak.
Posted in Happenings, Local Information, Market Update, Mortgage Info, Uncategorized | 
Tags: Agoura Hills real estate, Conejo Valley real estate, Market Update, North Ranch homes, Oak Park CA real estate, Sher Hann, Simi Valley real estate, Westlake Village CA homes, Wood Ranch real estate | 
No Comments »
New Listing: Desirable One-Story in West Simi Valley
January 15th, 2011
Now on YouTube!
Come see this lovely one-story home on Sunday, 2 PM to 4 PM. With a large yard, high ceilings, upgraded kitchen and flooring, and a three-car garage, it offers easy living in a quiet neighobhood close to the 23 freeway and the 118. Reduced to $579,000. Take a look:1890 AutumnPlace.com.
Federal Help for Distressed Homeowners
April 16th, 2010
On April 5th the federal government launched revisions to the Home Affordable Foreclosure Alternative (HAFA) program.
HAFA gives new guidance to mortgage loan servicers currently participating in the Home Affordable Modification Program (HAMP).
HAFA is designed to streamline the short-sale process by incorporating the following unique features. If your lender has agreed to participate in HAFA, here’s the deal:
• Borrower may receive preapproved short-sale terms prior to listing the property
• HAFA prohibits loan servicers from reducing real estate commissions
• HAFA requires borrowers to be fully released from future liability for the debt
• HAFA participants must use standardized processes, documents and time frames
• HAFA offers financial incentives to loan servicers, investors and borrowers
– $1,500 to servicers for handling a short-sale
– $2,000 to investors who share proceeds with second-lien holders
– $6,000 to second lien holders for releasing their claims
– $3,000 to borrowers (distressed sellers) for relocation assistance.
Coupled with the fact that forgiven mortgage debt may now not be taxable at the California or the federal level), this can only be good news for distressed sellers.
My thanks to Browyn Stanisch, of Fieldstone Financial for this information.
Posted in Market Update, Uncategorized |
Tags: imi Valley real estate, mortgage, short-pay, short-sale, Simi Valley real estate |
1 Comment »
Fabulous Home and Garden in Wood Ranch!
April 8th, 2010
Come see my new listing: Starbright Gardens! Extraordinary plantings abound in this botanical paradise, created by the current owner, who volunteered for five years at Pasadena’s Huntington Gardens. The magnificent garden surrounds the home on a huge private lot, tucked away on a cul-de-sac. The garden is organically maintained, with micro irrigation; it has French drains, a natural stone patio, paths and terraced walls, as well as a small stream, a waterfall and an outdoor charcoal BBQ.
Located in wonderful Wood Ranch, this 4/5-bedroom, 4-bath home features a well-equipped kitchen with a double oven, custom shelving in the walk-in pantry and extra shelving in the cabinets. The dining room and kitchen open onto the yard, while a balcony off the master suite overlooks it.
Other upgrades include ceiling fans, customized closets and a cedar-lined closet in the master, as well as a bonus room off the master and a workroom in the garage. There are built-in cabinets in the garage and rain gutters too! Situated close to top-rated Wood Ranch Elementary School, this spacious home and garden are a rare and special offering. Listed at $859,000
This home, located at 684 Starbright Ct., Simi Valley, will be open Friday, April 9, from 11 – 1.
