What is REO?  Here's one for the longtail and a sort of WIKI entry to my BLOG!!!In any business it is hard not to slip into the industry vernacular and forget that our audience may not really be following.  REO is an acronym for Real Estate Owned.  Here in Simi Valley and Moorpark an REO property  falls under the California process of foreclosure.  California is a Trust Deed state.  The term mortgage is a more universal term like Kleenex or Xerox for Californians.  When a person borrows money against a property the Loan is made and secured against the property with an instrument known as a Deed of Trust.  The Deed of Trust has three partys.  The Lender (Beneficiary), The Borrower (Trustor) and the Trustee - an entity or person who holds the Title to the property until the Loan (secured ... 05/07/2008

InternetSearches Half the money I spend on advertising is wasted; the trouble is I don't know which half. John Wanamaker, (attributed) US department store merchant (1838 - 1922) Quick facts: 84% of all buyers start their search on the Internet. The top three Internet sites hit are Realtor.com, Zillow and Craigslist. 3 out of the top 23 searches are for agents, but these 3 don't even show up before the top eight. The above information is critical to the sale of your home.  The Realtor you interview to sell your home in Simi Valley better know these quick facts and better be able to demonstrate how these facts will impact the sale of your home.   Quickly looking at just Single Family detached homes in Simi Valley, let me show you how far behind my Simi Valley colleagues are when it comes... 05/04/2008

Twitter............Waste of time?  Tweets, e-Twits, Twhirl, Tweetscan, Tweet-ups what gives?  If you are not a Twitter follower, here is the quick rundown from my prospective.  It's IM on steroids.  Instead of a product like Yahoo messenger where you talk to just your buddies one at a time, everyone who is on Twitter has the potential to see what you have to IM.  Anyone can choose to follow your IMs.  There is a way where you can restrict who follows your tweets, however I have not found a reason to restrict my tweets as of yet.  Where this is a fun tool is, that you can take a group of friends, colleagues or you and your clients and communicate through 140 character messages and everyone is in the loop simultaneously.   Now is this a factor in the Real Estate industry?  Yesterday even... 04/30/2008

I am  convinced that I need video of all my Simi Valley and Moorpark real estate listings with the exception when there are issues with the house clutter that will not help by blasting an interior video all across cyberspace.  I ordered a Hague Mini Motion-Cam stabilizer and after some fidgeting I finally got the balance point down.  Thanks to a great video on youtube I am all set up for a great day of shooting tomorrow. I placed my order last Thursday April 24th and was very surprised to see the package arrive in California today as these are shipped from England.  Still for approximately $150 US, this is going to be a great tool and the money will be made up on the first shoot as I previously would spend that much on one single virtual tour. Armed with Adobe Photoshop, Premiere, tow ... 04/29/2008

Here is the quick take on home sale in Simi Valley: 2008 YTD monthly average closed sales or Single family detached homes: 54 2007 Same period: 75 85% of all this year's closed sales were below $585,000. 2008 YTD monthly average closed sales or Single family attached homes: 21 2007 Same period: 12 04/28/2008

Mike Lefton, Broker Assoc./Realtor Troop Real Estate SimiValley and Moorpark! Mike Lefton is a top notch Real Estate professional in Simi Valley,California. Mike Lefton has closed hundreds of Real Estate transactions throughout Simi Valley,Moorpark and surrounding areas.Mike Lefton is a broker associate/realtor at Troop Real Estate Simi Valley.Mike Lefton works side by side with buyers and sellers providing excellent Real Estate service. Mike Lefton motto is Dedication,Determination,Drive the winning combination. Call now for a FREE market evaluation.805-426-0597 04/25/2008

Mike Lefton is a Top-Notch Real Estate professional Realtor in Simi Valley California. Mike Lefton has been helping buyers and sellers since 1996 and has closed hundreds of Real Estate transactions in the Simi Valley area. Feel free to search all the homes on the market in the Simi Valley area by clicking the links below. Simi Valley Real Estate Home Links:Simi Valley Single Family Homes                                    Simi Valley Condos/Townhomes Simi Valley Rentals Simi Valley Multi-Family Simi Valley Vacant Land Simi Valley Commercial Property 04/25/2008

Okay I have an entry for April.  This mailbox was found in a neighborhood on the east side of Simi Valley in a tract of single family homes.  I am told that it is solar powered and that it lights up at night. Unique mailboxes are fun to find as they always give a little peak into the lives of their owners. 04/24/2008

I was just directed to this site today. It was so easy to upload the photos. I will use this in my listings for Simi Valley and Moorpark Real Estate and homes www.animoto.com 30 second teasers like the video above are free. Longer videos have a fee. Unlimited for a year is $30. If you use the referral code wnrtgesd you get $5.00 off the fee. Another sugeestion is to get a go daddy domain for the property address and point it to the url for the video. .info domains are on sale for 99 cents for 12 months. 04/23/2008

Okay, so I said awhile that Buyers need to get going...well, mostly all my Simi Valley properties that are getting offers are getting multiple offers.  That means that those of you sitting on the fence waiting for Simi Valley REO homes or other Simi Valley bank-owned homes to come up need to make the mark and NOW.  If you really want to buy anything from a Simi Valley townhome or a Simi Valley luxury home, you need to jump now.  Inventory is getting lower; and remember, Simi Valley, Wood Ranch homes for sale and other areas of Simi Valley real estate listings are available.  REOS sometimes aren't the best deals out there. 04/23/2008

5 reasons to buy now Simi Valley and Moorpark Real Estate - Home Sales. Should  buyers wait or buy now?  The following reasons indicate that a wait and see approach might not work out in the long run.  Timing the market cycles for absolute high and low points is about the same as playing roulette.   1. Interest Rates are Low.  In looking at the boom between 2003 and 2005 it is clear that an  interest rate base has been established above 5%.   Table Data 2008 Ted Mackel 2.  A price drop over the next 12 months may not save you any money over the long haul.  If interest rates increase while prices drop.  The monthly payment will be the same and could even be higher. Interest rates for 2006 and 2007 averaged over 6.34%.  Rates as of today were at 5.88%    The Bank always wins at the inter... 04/22/2008

 I wanted to share an article I wrote for The Ventura County Star, our local newspaper. This article was written in an attempt to enlighten and energize buyers. You have my express permission to reprint it in any format you choose.Real Estate'sTheory of Relativity We've all heard the saying "it's all relative" but when it comes to Real Estate, is it? I would give the answer to that question a resounding YES! My personal experience is a perfect example. It was 1989 when I sold my home in West Hills, CA and moved to Moorpark here in Ventura County. The market was hot and I sold my home in three days for top dollar. I consequently paid top dollar for my home in Moorpark. Are you starting to see the "relativity factor?" A few years later my property value declined by more than $60,000.00! I... 04/20/2008

Okay here is another inspirational Video.  This video is only a minute fifteen seconds.  FAMOUS FAILURES I have seen some great posters on Lincoln and his tribulations. It is surprising to many as he is considered one of our greatest presidents. I like how this short puts together all these different people. Enjoy and please comment especially if there are other famous failures that were not on this video. 04/17/2008

WELCOME!Mike Lefton April 2008 MIKE LEFTON            Simi Valley Real Estate        805-407-6453Copyright © 2008 Realty TimesAll Rights Reserved.What The Economic Stimulus Package Means To You   Since passed by overwhelming Capitol Hill majorities in January, there has been much talk regarding the economic stimulus package. Yes, it will cost $168 billion, but what does it actually do for individuals?       The stimulus package is designed to help the country moderate the worst effects of a slowing economy and perhaps even avoid a recession. The idea is to encourage spending and with more spending to increase economic activity. While the theory looks good on paper, it will likely take months or years to know if it actually works.      From a personal perspective the Mortgage Rates U.S.... 04/17/2008

Simi Stats Comparing closed sales in Moorpark for last year vs. this year, a better understanding can be gained of what is selling and what is not. Total Sold 2007 2008      % Single Family Detached Homes 90 45 -50.0%                                               Short Sales/Bank owned (part of total) 4/1 Condos/Town homes 15 10 -33.33%                                              Short Sales/Bank owned (part of total) 3/0 Pending Sales  2008 Single Family Detached Homes 41                                               Short Sales/Bank owned (part of total) 8/0 Condos/Town homes 4                                               Short Sales/Bank owned (part of total) 2/1 The Bulk of the Single Family detached homes that are selling are below $625,000. The highest Closing for this year was... 04/12/2008

Simi Stats Comparing last year vs. this year, a better understanding can be gained of what homes are selling in Simi Valley and what is not. Total Sold 2007 2008      % Simi Valley Single Family Detached Homes 245 169 -31.0%                                               Short Sales/Bank owned (part of total) 22/27 Simi Valley Condos/Town homes 88 38 -56.8                                              Short Sales/Bank owned (part of total) 6/6 Simi Valley Pending Sales  2008 Simi Valley Single Family Detached Homes 222                                               Short Sales/Bank owned (part of total) 65/33 Simi Valley Condos/Town homes 29                                               Short Sales/Bank owned (part of total) 10/5 The Bulk of the Simi Valley Single Family detached homes th... 04/11/2008

5 mistakes 1. Lock Box. The Multiple Listing Service operates through a database search system and common access point for all Realtors registered with the system.  This common access point is a Lock Box (Key Safe).   In order for a Realtor to be able to show their client several homes on any given day, the lock box plays an important role in allowing Realtors to show your home when you are not home.  As a Seller it is important to understand that more showings equal more chances you will receive an offer .  When a Buyer makes an appointment with their agent to see homes, the agent will sort the showing list by the easiest homes to see first.  Any homes that need appointments or restrictive hours will go to the bottom of the list.  Time is valuable and the easiest homes to get into are... 04/05/2008

Widows Bond One of the most rewarding and (at the same time) difficult parts of my career is when I am called to help a widow with her home; usually a couple years after her husband has passed. The difficulty lies in that many times estate planning was not complete or in some cases not yet considered.  The rewarding part is working through these difficulties and helping my clients reach their next goal.  Not only is the home a source of financial security (when there is high equity), but the home is also the place a husband and wife have raised a family and shared many years of marriage together. The memories are deep and rich and the process of selling and moving can be highly emotional.  A close friend Michele Hernandez lost her husband Phil in August on 2005.  All of us who knew Mich... 04/01/2008

Undergoing MyBlogLog Verification Existing home sales As an adjunct to my Perfect Storm Blog post.  I went to NAR's website and looked at the historical sales data to study the trends as I am constantly asked how long will a recovery take or when will the bottom hit.  Those waiting for the bottom will likely miss it as the laggards in every business cycle always do.  Sure there is probably some hold out time left, but if mortgage interest rates rise, then the rise in rates will washout perceived gains in timing the bottom.  The issue of mortgage rates is critical as in the Simi Valley Moorpark area, a typical home is well above the FHA preferred rate limits and the increased conforming limits under Fannie and Freddy just require a large down payment. The volume of  sales has been decli... 03/30/2008

REOs Buying an REO in Simi Valley or Moorpark?  I have bought two in my lifetime.  Probably more down the road.  Now that this will be a more regular course in our business for a while, here are some of the important issues to consider when purchasing an REO. Who are you getting your Financing through?  This may be the most important issue, because the lender you choose could cause you penalty fees if escrow does not close on time or your earnest money if they can't get you the loan they promised you.  Loan brokers tend to have greater flexibility, but because the loan prospects have dried up with the declining markets, loan brokers are split into two camps.   The first, REPUTABLE HARD WORKING AGENTS, that will tell you up front the truth and they will not tease you with rates and term... 03/28/2008