This is the 12th episode of Housing Market Watch (see the previous episode here), where I focus on what's happening with home prices in Southern California using specific examples from the Multi-Listing Service (MLS).Today's property is in the family friendly community of Simi Valley (Ventura County) and has a private pool.
Description
Remarkable Value! One of the BEST priced homes in ALL of Simi !! Large 6+3 with surprising privacy in front and back yards! Private gated front yard with brick-lined planters and fruit trees! Well landscaped! Brick lined walkway to newer double door entry! 2 master suites! Large balcony overlooking yard! Tile floors and smooth ceilings! One bedroom/bath downstairs! Updated kitchen and baths! Indoor laundry! Private entertainers yard with blue-bottom pool, gazebo, fruit trees and side yards! Home enlarged nearly 1000 permited sqft by pushing out the family room and upstairs master!The Specs:
| Type: SFR Status: Active MLS#: F1779006 | Sq. Ft.: 2,616 Lot Size: 7,600 Sq.Ft. Year Built: 1964 | Beds: 5 Baths: 2.5 Stories: 2 On Market: 139 days |
Sales History
| Date | Sold Price | $/SqFt | Gross Gain | Change ($) | Change (%) |
| 07/09/90 | $236,500 | 90.4 | N/A | N/A | N/A |
| 07/25/05 | $650,000 | 248.5 | +$413,500 | +413,500 |  174.48 |
Pricing History
| Date | List Price | $/SqFt | Gross Gain | Change ($) | Change (%) |
| 05/20/08 | $495,000 | 189 | -$155,000 | -155,000 |  23.85% |
| 08/13/08 | $459,900 | 176 | -$190,100 | -35,100 | 7.09% |
| 09/05/08 | $449,000 | 172 | -$201,000 | -10,900 | 2.37% |
| 09/12/08 | $448,900 | 172 | -$201,100 | -100 | 0.002% |
| 09/20/08 | $448,500 | 171 | -$201,500 | -400 | 0.009% |
| 10/02/08 | $448,200 | 171 | -$201,800 | -300 | 0.007% |
| 12/18/08 | $420,000 | 160 | -$230,000 | -28,200 | 6.29% |
This episode's home is currently listed for 31.05% less than it was purchased for in July 2005. This home has fallen in price by a whopping $201,800!!! For some the current asking price of $448,200 may look like a deal, but I believe these homes will fall into at least the low $300,000's before we're at the bottom of the market.
UPDATE 09/20: Price dropped to $448,500
UPDATE 10/02: Price dropped to $448,200
UPDATE 12/18: This property was sold for $420,000
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