|October 30, 2017||No Comments|
What do ghosts and housewarmings have to do with each other? Find out in this months Real Estate Market Update for Ventura & LA Counties and Simi Valley For October 2017!
Have you ever thought about this? Someone buys a home and we throw a housewarming party. Where did that tradition come from? Find out, after this!
It’s October and here’s our market update for the month. In LA county last month the median price for a home was about $565,000. That’s up 8.2% from a year ago.
What’s the median price of a home in Ventura County? Last month it was $592,000 that’s up 9.2% from a year ago. That’s a lot of great growth.
In Simi last month the median price for a home sold was $530,000. That’s up 6.4% from a year ago so that’s pretty good.
Next is inventory. Why do we talk about inventory? Because that’s what drives housing prices.
Right now in Ventura and LA Counties there’s only about 2 months of inventory. In Simi there’s only 1.4 months of inventory. That’s about 12% less than last month.
A lot of people think that because we have an office in Simi Valley that we’re restricted to selling homes in Simi Valley. Is that true? No, that’s not true. We’re actually licensed for the entire state of California. Plus we actually help people buy homes across the United States. We work with referring partners across the country. And we do have international referral partners.
And lastly the feds have raised rates twice this year yet mortgage rates are still at like 3.75% so it’s still a killer time to buy a house.
The original housewarming party was literally a house warming party. Guests brought firewood as gifts and built fires in the fireplaces throughout the home. Obviously it warmed the home up for the family but it was also believed to ward off evil spirits. A new house would have to be rid of those evil spirits to become a happy home. And that’s where the tradition of housewarmings began.
That was fair. Fair??!! Mission accomplished! That’s it. We’re out.