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I’m still on the price change theme. I think it’s our new MLS system that’s making these multiple-price-changes-in-a-day more visable to us agents. Here’s one more then I’ll shut-up about this topic.

An Arroyo Grande Home on the market for 37 days. I can just hear the conversation between owner and agent “That’s too low”, “Let’s go higher”, “Ok, let’s go with the last price”…

Here’s the activity for today:
1)Price drop from $580,000 to $559,000
2)Price increase from $559,000 to $569,000
3)Price increase from $569,000 to $580,000
4)Price drop from $580,000 to $569,000

Written by Keith Byrd - Go to Keith's Website/Profile

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Lots of homes with price reductions today. Maybe some don’t want to miss the buying season.

How did they come up with that number to reduce it by?? Talk about something that’s not an exact science!

Here’s a sampling:

Arroyo Grande
660,000 to 639,000 – Days on Market(DOM)=22
1,299,000 to $1,199,000 – DOM=163
$235,000 to $230,000 DOM=87

Atascadero
$375,000 to $362,000 DOM=46
$417,900 to $412,900 DOM=32

Grover Beach
$719,000 to $709,000 DOM=28

Los Osos
$569,500 to $565,500 DOM=129
$625,000 to $595,000 DOM=66
$815,000 to $795,000 DOM=191
Here’s a good one…a home went on the market at $895,000. Then it had a price increase to $986,000. THEN it had a price reduction to $985,000. All within the same day.

Morro Bay
$81,000 to $75,000 DOM=107
$572,000 to $564,000 DOM=85

Nipomo
$419,900 to $414,900 DOM=81
$719,900 to $699,900 DOM=87

Orcutt
$399,000 to $395,000 DOM=17
$499,999 to $479,900 DOM=31
$579,900 to $569,900 DOM=58
$745,900 to $725,900 DOM=8

Paso Robles
$394,000 to $385,000 DOM=20
$399,000 to $385,000 DOM=39
$429,000 to $425,000 DOM=53
$799,000 to $744,000 DOM=30
$1,495,000 to $1,395,000 DOM=94

San Luis Obispo
$579,000 to $574,000 DOM=71
$729,000 to $710,000 DOM=18

Santa Maria
$459,900 to $449,900 DOM=7
$565,000 to $559,000 DOM=20

Templeton
$1,645,000 to $1,599,000 DOM=22

Written by Keith Byrd - Go to Keith's Website/Profile

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A 90 acre parcel in Cayucos is on the market for $3.8 Million. It contains mountains, valleys, and plenty of privacy. If you’re looking for something close to the ocean with plenty of elbow room, this may be it.

Written by Keith Byrd - Go to Keith's Website/Profile

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Here’s something you don’t see that much these days…a condo in SLO goes on the market under $300K! It’s priced at $299,000 and is not that far from Poly. It’s an end-unit with 1 bedroom and 600 sq feet. HOA fees are $150/month.

Written by Keith Byrd - Go to Keith's Website/Profile

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By far, the question I get asked the most from people searching the MLS is if there any more photos available for a particular home. Even if there are more photos, the MLS system reduces the photos to a fraction of the screen size on people’s computers. Realtor.com is worse in that they take the photo from the MLS and reduce it another 25%.

I’ve created a company called Star Home Tours that will provide a solution to this shortcoming. I’m using my photography and Internet skills and creating dedicated web sites for properties with full screen photos.

I’ll have more information on my new company shortly. For now, check out one of the web sites I recently did… www.2244RailCt.com

What’s great is that this service will be available to any Realtor. They don’t have to be a “techie” in order to get a home to stand out!

If you’re a homeowner on the Central Coast and are putting your home on the market, you’ll want to make sure your Realtor is giving you the BEST marketing. Have them contact me for more details!

Written by Keith Byrd - Go to Keith's Website/Profile

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The Office of Federal Housing Enterprise Oversight (OFHEO) released house price appreciation statistics for 265 metropolitan areas. San Luis Obispo was ranked 32 which is great for homeowners, but not so great for those looking to buy in the County.

Here are the house appreciation results for SLO and some other areas. Bakersfield was ranked #1. (Sorry about the formatting. This blog program won’t display multiple spaces between numbers no matter what I try to put them in columns). The full chart is here – http://moneycentral.msn.com/content/Banking/Homebuyingguide/P85324.asp

rank 1-year quarter 5 year

San Luis Obispo-Paso Robles, CA 32 21.69 3.95 107.44
Santa Barbara-Santa Maria-Goleta, CA 11 26.75 3.52 121.77
San Jose-Sunnyvale-Santa Clara, CA 55 16.76 3.69 52.37
Bakersfield, CA 1 33.67 5.52 101.61

Written by Keith Byrd - Go to Keith's Website/Profile

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SloCountyHomes.com had a record 20,158 visitors in the month of May!

We had visitors from 40 countries outside the United States. The countries paying the most visits were (in order):

– Netherlands
– Canada
– Germany
– United Kindom
– France
– Japan
– Poland
– Australia

We even had visitors from Estonia, Samoa, and the Tonga.

It pays to be high up in the Search Engines!!!

Written by Keith Byrd - Go to Keith's Website/Profile

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“We’ll Sell Your Home or We’ll Buy It Ourselves”

Who wouldn’t want to have this assurance that their home will be sold? If you are attracted to this type of service, make sure you read all the details. All homeowners should be interested in how these type of services are offered because most end up not actually having to buy 99+% of the homes in their programs. How are they so successful in selling a home??

Let’s look at one of these services that is currently being offered by a Brokerage. Their program does the following:

1) Makes the homeowner get the home in move-in condition, plus get a home inspection and fix what needs to be before the home goes on the market. This makes perfect sense. Having a home ready for move-in will make it show better and prevent any unpleasant surprises when the inspections are done.

2) Price the home right.
The service requires the Seller to pay for an appraisal. Then, the home has to be priced within 5% of the appraisal. This particular Brokerage’s program has set times when price reductions will happen over the 6 month period the Brokerage has to sell the home. Any valid offer within 5% of the current asking price must be accepted by the Seller.

If the home isn’t sold within 6 months, the Brokergage will pay 10% lower than what the home was appraised at.

The better description of this service should be
“We’ll Sell Your Home or We’ll Buy It Ourselves (at 10% lower than the appraised price)”

With the price appreciations in the area, an appraisal that was done 6 months ago is probably well under the market price already!

Written by Keith Byrd - Go to Keith's Website/Profile