|July 14, 2016||No Comments|
Time for our monthly Real Estate Market Update July 2016 – Ventura/LA Counties, Simi Valley!
Is it possible for a doorknob to disinfect itself? I’ll tell you after this!
In Ventura County last month the median price of a home sold was $578k – thats up 6.1%. In one month! And up 9.9% from a year ago! Why? the US economy isn’t horrible and interest rates are still low. Plus – it’s house buying season. Summer is when we all wanna move and upgrade – between school years.
In LA county last month, the median price for a home sold was $546k – that’s up only .2% from the prior month and up 6% from last year – which is still pretty healthy.
Inventory is still low – only about 2 months in both counties. I’m beginning to think this is the new norm.
In Simi, where I live, as of this recording there are 250 homes listed as active for sale on the MLS.
It kinda burned down, most of the way, so you’ll have to bull doze it, but its a pretty cool lot near the Santa Susana Knolls. $71,500 and its yours.
Don’t go inside. You might die.
On the other end of the spectrum we have this one – its only $1,975,000.
It was first listed at $2.3 million, so its a pretty great deal now! if you’re looking for a 5700 SQ ft mansion with a ridiculous pool and… a beach volleyball court, it’s this one.
Oooh! and what am i excited about this month? Interest rates! Brexit baby. Thanks for the vote Britain – 30 year fixed loans: 3.44%!
Let’s do some math with round numbers:
Lets’ say you buy a home for 500k and put 20% down.
Your payment including closing costs, but excluding taxes, insurance and HOA would be about $1796/month.
At 5.5% that number would be $2,271 per month – thats $475 more per MONTH.
What am i saying? Get a home while rates are still stupid low.
Give us a call and we’ll be glad to help you.
And what about that doorknob thing? Several metals, including brass, copper, aluminum, lead, iron, and sliver are antimicrobial and they kill bacteria! Brass is the most antimicrobial of them all. So if you have OCD – you might want to consider brass doorknobs.