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A home on the Bluffs overlooking Pirates Cove went on the market. Only $5.9 Million!

Seems like one of these homes comes available the beginning of each year. The price goes up between 1- 2 Millon a year! Don’t know if this is an indication that prices are going to take another jump this year. It could be viewed as a bargain. This home was first inputted to the MLS system at $55 Million, then changed.

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

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The Central Coast MLS System is DOWN!

The MLS system that services the entire Central Coast (Santa Maria and SLO County) has been down since Sunday. No agent can enter or lookup properties. The MLS Search I have is one of the few systems that is up and running. The data should be current as of when the system went down.

(Note: The Central Coast is in the process of changing MLS Systems to a new vendor. This should happen in March. Is it just coincidence that our existing system decided to go down for multiple days with no estimate from the vendor when it will be back up??)

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

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In 2004, there were 208 single family homes listed on the MLS for Pismo Beach. The lowest price (asking price) was $325,000 while the highest was $5.9M. The average was $907,000.

For San Luis Obispo, 660 homes were listed. Highest was $4.19M. The average was $641,650.

In Paso Robles, 984 homes were listed. Highest was $19.5M! Average was $491,410.

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

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I just got back from the Bay Area. Wow, the traffic is getting even worse up there. Looks like the Silicon Valley is on the rebound.

Housing prices are pretty crazy. I was in the East Bay, Pleasanton to be exact, and saw many $1M+ homes advertised.

What was most interesting was the gas prices. I saw as cheap as $1.84 for premium. Why are we paying so much on the Central Coast???????????

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

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Here’s the MLS activity from December 1st – today (3:31 PM);

New Listings – 479

Back on Market – 140

Price changed – 243

Contingent – 30

Pending – 497

Have a Happy Holiday!

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

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Thx to Richard at www.slopages.com for sending me this article!

Standards and Poorer has rated San Luis Obispo as the #1 volatile housing market in the nation. Read the article, If the Bubble Bursts, here.

Note at the end it says:

“The report points out that the highest house values are on the coasts with California and the Northeast, and that these tend to be among the most volatile. But homeowners tempted to cash in their gains and move to a lower cost area might want to consider carefully; the index indicates that many of those same areas will also provide the best opportunity for growth.”

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

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The new Cal Poly student city is expected to open in 2008 (construction starting in early 2006). The development location is up in the Poly Canyon area. It’s planned to have 2700 beds, a recreation center, laundry facilities, swimming pool, and sports bar. The breakdown on rooms are: 100 studio apartments, 250 2-bedroom, 500 four-bedroom. Two parking structures would handle 1900 parking spaces.

While this may sound like it may impact the local rental housing market, I think they are going to increase enrollment when they have this extra housing so it may not affect it.

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

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There are currently 54 Single Family Residences (homes and condos) currently under $300K (most are condos):

– 17 in Santa Maria

– 4 in Atascadero

– 14 in Paso Robles

– 4 in Cuyama

– 5 in San Miguel

– 6 in Lake Naciemiento

– 3 in Shandon

– 1 in Los Osos

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