Should You Dump Her?
October 13th, 2007 Categories: Home Selling in Calabasas
Should You DUMP Her?
If this sounds like your Real Estate Agent, then the answer is YES.
If even one of these sounds familiar to you it’s time to show your real estate agent the door. But let her down Gently.
For information on how to creatively market your Calabasas home and get it sold in this challanging buyer’s market call Tracey Thomas at (818) 652-2937.
| Discussion: 8 Comments »
Pin The Tail On The Bottom Of The Calabasas Market
October 9th, 2007 Categories: In The News Calabasas
I have been working with several would be home buyers here in Calabasas. All of them feel that they should wait until the housing market is at the bottom before they buy a home. Id like to share my explanation of “the bottom of the market” and how it will effect your buying decision.
This is a graph that represents the Calabasas housing market. The left side of the V represents the market going down, the right side represents the market going up, and of course the bottom of the V represents the bottom of the housing market.
If I asked you to plot on this graph where you thought the housing market was right now …
… would you pick this spot or something close?
So you think that the market is going towards the bottom? OK, so if the market isnt at the bottom yet, how will you know when it does hit the bottom?
How will you know when the housing market hits the bottom?
You wont know that the housing market has hit the bottom until prices start to go back up. It will be difficult to be sure that the market has hit bottom for a few months. Its not a sudden shift, it is a slower more gradual shift. Youll be able to tell that the market has turned when prices reach this point (green arrow).
What is the difference in housing prices between the red arrow and the green arrow?
Not much… but there is a difference and it is major.
If you buy a home on the left side of the graph, it is considered a buyers market. You would be more likely to get concessions from a seller including price reductions, repairs, or maybe even personal property.
If you wait until the market turns and you buy on the upswing, you and every other buyer that has been waiting for the market to hit bottom will be bidding on the same house.
There really is not better time to buy a house than now for a few reasons:
- I am suggesting to each and every would be Calabasas buyer to take a good look at the above examples and decide for themselves what percentage the prices will have to drop before they think housing prices have hit bottom and offer that price. For example, if you think that prices will go down another 5%, then submit an offer at 5% below the asking price.
- For more information on how to determine when is a good time to purchase a home in Calabasas or a detailed market analysis on the different Calabasas neighborhood sales, please call me at (818) 652-2937. I track Calabasas sales, monthly, and weekly by neighborhoods and have daily information on closings so that you can stay on top of our changing market.
| Discussion: 7 Comments »
Calabasas September 2007 Real Estate Sales Figures
October 1st, 2007 Categories: Calabasas RE Statistics, In The News Calabasas
Listing your house and crossing your fingers was not enough to sell a house in Calabasas during September.
Fourteen escrows closed in Calabasas during September. This is a 39% decrease in numbers of closed escrows from September 2006. The average price of a home decreased slightly, 6.4% to $1,170,000. Its important to note that because the sample size is so low that even one more $2,000,000 sale would have skewed the average price dramatically.
In addition to publishing the overall sales for September, this month Ive also included a breakdown of each sale. Its important to note that all but one of these homes took a price reduction at least once during its time on the market, many of these homes had to lower the price several times. There are 248 homes on the market in Calabasas as I write this article and 25 homes with an open escrow. Buyers have many homes to choose from and are price savvy. Although interest rates are low, it is much more difficult to qualify for a mortgage now than it was just six months ago.
Although Calabasas Real Estate experienced a slight decrease in overall price, compared to the rest of the San Fernando Valley we are doing well. Stay tuned for my article “Chasing The Market Down” which explains how to price your home correctly in todays real estate market.
If you are interested in selling your home in Calabasas, please call me to see where your home fits in. if you are thinking about buying a home in Calabasas call me to find out which homes may be flexible in their pricing and ripe for a price reduction.
| Sept. 2005 |
Sept. 2006 |
Sept. 2007 |
# Change from 2006 |
% Change from 2006 |
|
| Closed Escrows | 29 |
23 |
14 |
-9 |
-39% |
| Avg. Sale Price |
1,395,603 |
1,250,017 | 1,170,000 | -$80,017 | -6.4% |
September 2007 Home Sales
| Address |
Bed |
Bath |
Story |
Garage | Sq. Foot |
Yr. Built |
Price |
DOM |
|
| CONDO |
4610 Park Granada 3 |
2 |
2 |
1 |
2 |
1,054 |
1972 |
$415,000 |
69 |
| CONDO |
26240 Alizia Canyon Dr |
2 |
1 |
1 |
2 D |
1,091 |
1965 |
$449,500 |
4 |
| CONDO |
4240 S LOST HILLS ROAD |
2 |
2.5 |
2 |
2 A |
1,385 |
1988 |
$516,000 |
113 |
| SFR |
3420 Stoneridge Ct 16 |
3 |
3 |
2 |
3 |
2,499 |
1990 |
$840,000 |
28 |
| SFR |
588 Cold Canyon |
2 |
1 |
1 |
2 |
1,120 |
1936 |
$849,000 |
37 |
| SFR |
23034 Park Dulce |
3 |
3 |
2 |
3 |
2,864 |
1987 |
$850,000 |
74 |
| SFR |
3418 Dorothy Rd |
3 |
2.5 |
3 |
2 D |
2,212 |
1992 |
$899,000 |
140 |
| SFR |
24771 Calle Serranona |
4 |
3 |
2 |
3 A |
2,446 |
1988 |
$1,075,000 |
7 |
| SFR |
24743 Calle Altamira |
4 |
3 |
2 |
2 A |
2,681 |
1989 |
$1,100,000 |
147 |
| SFR |
3752 Camino Codorniz |
5 |
5 |
2 |
3 |
3,307 |
1989 |
$1,485,000 |
113 |
| SFR |
4500 Park Serena |
4 |
4.5 |
2 |
2 A |
3,981 |
1980 |
$1,501,500 |
32 |
| SFR |
23278 Park Basilico |
5 |
4.5 |
2 |
3 A |
3,788 |
1989 |
$1,510,000 |
128 |
| SFR |
5851 SLOAN PL |
5 |
4.5 |
2 |
3 A |
4,597 |
1996 |
$1,950,000 |
304 |
| SFR |
25551 Prado De Las Flores |
5 |
5.5 |
1 |
2 A |
5,296 |
2005 |
$2,940,000 |
150 |
| Discussion: 7 Comments »
Calabasas Pumpkin Festival
October 1st, 2007 Categories: Calabasas Events
2007 Hours:
Saturday, October 20th, 10:00AM – 5:00 PM
Sunday, October 21st, 10:00 AM – 5:00 PM
-
Free Admission & Parking
-
Zoom Go-Karts & Other Low Cost Rides & Games
-
Plenty of Delicious Food, Plus a Beer Garden
-
Cars From The Movies & TV (Saturday Only)
-
Classic Car Show (Sunday Only)
-
Craft Marketplace
-
Free Live Stage Shows
-
Free Shuttling Available Along Lost Hills Road
-
Handicapped Accessible
Saturday Special !
$2.00 Off Unlimited Ride Pass
Festival Location:
Street Fair along Lost Hill Road
Games & Rides at Juan Bautista De Anza Park
3701 Lost Hills Road, Calabasas, CA
Event Entrance & Parking at Lost Hills Road., & Agoura Road.
101 Freeway – Exit Lost Hills Road in Calabasas.
| Discussion: No Comments »
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