Simi Valley Home Market Trends
Simi Valley Condo-TownHome Market Trends
Buyer purchasing power is the driving force behind real estate pricing, as each homebuyer in need of a mortgage has a maximum price they qualify to pay to purchase property. This maximum price depends on:
- the buyer’s down payment; and
- the mortgage funds they qualify to borrow from a lender.
When buyer purchasing power falls, home prices are sure to follow. When purchasing power rises, the outlook for future price increases is good.
History tells us that home prices begin to rise about six months after buyer purchasing power rises. Home prices begin to fall 9-12 months after buyer purchasing power begins to fall in a sustained manner. The delay for falling home prices is due to the sticky price phenomenon, in which sellers initially refuse to adjust their prices to reflect today’s fair market value (FMV).
Other factors that influence these pricing trends include:
- speculator over-activity (as in 2012-2013), which artificially boosts home prices even when buyer purchasing power declines;
- adjustable rate mortgage (ARM) usage, which provides additional funding and temporarily delays decreases in pricing due to depressed buyer purchasing power;
- the personal savings rate, which addresses down payment amounts and thus mortgage insurance;
- construction and zoning, which tempers home pricing in desirable areas;
- population density and income growth, which influences home sales volume and price movement; and
- economic shocks, which cause end user homebuyers to exit the market and investors to swoop in.
-
5780 PEACE PIPE Court
Simi Valley, CA 93063$899,999
- 4
- 4
- 3884
- Active
- SR15004131
A view to buy for! Stunning views, end of the cul-de-sac, 3 car garage, and gorgeous backyard in a tropical setting include gazebo, waterfall, built i... -
3086 RENEE Court
Simi Valley, CA 93065$894,000
- 5
- 4
- 4010
- Active
- 215000452
Wonderful opportunity in the prestigious, gated community of Arbor Glen, central Simi Valley! This spacious executive home boasts of 4010 sq. ft. w/5 ... -
791 COPPERTREE Court
Simi Valley, CA 93065$835,900
- 3
- 3
- 2797
- Active
- 215000505
Exquisite one story home. Highly upgraded throughout. Gorgeous cherry wood cabinetry, granite counter tops in kitchen with new microwave and dishwas... -
3255 PINK CEDAR Court
Simi Valley, CA 93065$759,900
- 5
- 3
- 3205
- Active
- 215000381
Nestled in the hills of Simi Valley on a cul-de-sac this beautiful 5 bedroom, 4 bath home is spectacular! The spacious & bright floorplan & amazing ba... -
66 West BOULDER CREEK Road
Simi Valley, CA 93065$724,900
- 4
- 3
- 2474
- Active
- 215000422
This gorgeous light and bright cul-de-sac home in the guard gated Cross Creek tract of Long Canyon features almost 2500 square feet of luxurious livin... -
4534 ADAM Road
Simi Valley, CA 93063$660,000
- 4
- 4
- 2421
- Active
- 215000401
Beautiful 4 bedroom 3 bath home on a large flat lot in the unique non conforming area of Simi Valley. The home features 1875 sq ft main house plus 546... -
543 INNWOOD Road
Simi Valley, CA 93065$649,950
- 4
- 3
- 2309
- Active
- 215000230
Spacious & Move-In Ready Regalia Residence In Wood Ranch!! Instant Curb-Appeal Draws You To This Lovely Home With Double-Door Entry, Semi-Circular Sta... -
2696 SANTA YNEZ Avenue
Simi Valley, CA 93063$642,500
- 4
- 3
- 2608
- Active
- 215000344
Former Model- Beautifully upgraded 4 bedroom, 3 bath home w/ open, flowing floor plan, approx 2608 sq ft, one bedroom and full bath downstairs 3-car ... -
4759 PROMENADE Street
Simi Valley, CA 93063$640,000
- 4
- 3
- 2652
- Active
- 215000290
Beautiful home ready for new family. Downstairs bedroom and bath for the in-laws or an office. Upstairs it has 3 bedrooms PLUS a loft. 10' ceilings bo... -
931 RED PINE Drive
Simi Valley, CA 93065$637,731
- 4
- 3
- 2371
- Active
- 215000545
Charming single story home with 4 bedrooms and 3 full baths and attached 2 car garage. The front bedroom lacks a closet but can be used as an office ...
View
Photos
View
Photos
View
Photos
View
Photos
View
Photos
View
Photos
View
Photos
View
Photos
View
Photos
View
Photos
The information being provided by CARETS is
for the visitor's personal, noncommercial use and may not be used for any
purpose
No comments:
Post a Comment