According to Leslie Appleton-Young, Vice President and Chief Economist for the CALIFORNIA ASSOCIATION OF REALTORS® 30% of California’s mortgages are still “underwater” – a value that is below what is owed to the bank. This explains the low home inventory and very competitive market we’re experiencing. Hence the phrase, “love it or list it”. Folks would like to sell their home but they’re not in a position to do so. The good and bad news is home prices have increased. If you’re not sure about your home’s value, please contact us to give you a formal market analysis.
Collette Kutil, The Keith Byrd Team, South County Realtor in San Luis Obispo County, including Pismo Beach, Arroyo Grande, Grover Beach, Oceano, Nipomo, and Avila Beach, 805-801-8114