Month: June 2010

Yet Another Craigslist Rental Scam

Keith Byrd

Received another email from someone asking about a Santa Maria home that’s on the MLS but advertised on Craigslist as a rental.  The scammers are not letting up!

You can pretty much bet that a home listed on the MLS won’t be advertised as a Craigslist as a rental. If you know of anyone that is looking for a rental, tell them to Google the address of the place they are looking to rent. If the search results show the property is for sale, it’s probably a scam from someone hoping to receive deposit and first/last month’s rent money for a property they don’t own.

Rate Update

Keith Byrd

Dismal housing data last week alarmed investors and tempered optimism of a rapid economic recovery, leading mortgage rates to their LOWEST LEVELS OF ALL-TIME! Existing Home Sales unexpectedly decreased 2.2% in May, although the median price is up 2.7% from one year ago. The number of previously owned homes on the market inched up to a little more than 8 months of inventory, but economists continue to worry about the looming “shadow inventory”. Even more alarming, New Home Sales plunged 32.7% in May to the lowest level on record after the April 30th homebuyer tax credit expiration. New home sales were down 53.2% in the West region, and sales have now sunk 78% from their peak five years ago. Year-over-year, the median price of a new home has decreased 9.6% to $201,000. The Fed met last week, and held the benchmark rate at a record low zero to 0.25% and continued to utilize the “extended period” language when characterizing the length of time that the “exceptionally low levels” will be warranted. Fed officials also incorporated a more pessimistic tone for their economic outlook, stating “financial conditions have become less supportive of economic growth on balance, largely reflecting developments abroad.” The press is renewing discussions of a “double dip” in the economy despite only three double-dips in the last 160 years of US business cycles. Regardless, these developments in the housing market kept investors focused on the relative safety of Treasury debt and mortgage-backed securities. Currently, the 30-Year Fixed sits at 4.250% (4.398% APR) and the 15-Year Fixed is at 3.750% (4.012% APR). This week we will see the S&P/Case-Shiller Home Price Index, Pending Home Sales, Consumer Confidence and the very important employment report.

4th of JULY WEEK-END- MORRO BAY

Keith Byrd

JULY 3-5th:  ART IN THE PARK

Artists from near and far set up booths to display and sell their work.

JULY 4TH:  FIREWORKS ARE BACK IN MORRO BAY!

Last year, for the first time, Morro Bay experimented with a laser show in place of the traditional  fireworks.  The intention was to be  environmentally friendly and  allow for a display that would be viewable even on the foggest of evenings.

It was not “the same”.  Tradition won out and the fireworks are back!

The day will begin at noon with a Bike Parade from Morro Rock to Tideland Park where the fireworks  are held.  Throughout the the day there will be music and entertainment, as well as games for the kids. Fireworks are set to begin at 9:00.

Wines that benefit SLO’s Woods Humane Society

Keith Byrd

North County Wineries have come to the aid of homeless pets…..this time on an ongoing basis. 

Two of my favorite things……critters and wine!  Some North County wineries and Woods Humane have concieved of a creative way to contribute to fury residents.  If you are not familiar with Woods Humane, they are a fabulous long operational shelter/organization located here in SLO County.  Lucky for displaced pets in our midst that SLO folks are so generous and give homes to a good percentage of our homeless pets.  Woods has such a good placement rate that they are able to take companion pets who may be on ‘death row’ in other areas that are less able to accomodate.  Several North County wineries hand over a bit of their proceeds and one has even slapped the name ‘A Dog-Gone Good Wine’ on one of there creations.  For more info about Woods Humane and their Wine Partners, please visit http://www.woodshumanesociety.org/wine.asp

Senate Approves Extension of Homebuyers Tax Credits

Keith Byrd

Due to the challenges associated with buying short sale and foreclosure properties, many home buyers who signed contracts prior to April 30th to take advantage of the federal home buyer tax credit are concerned escrow may not close before the June 30th deadline. Consequently, the Senate just approved an amendment this past Wednesday that will extend the deadline to close until September 30th, 2010. Under the amendment, purchase contracts would still have had to be entered into by April 30th. First time homebuyers could qualify for up to $8,000 and repeat purchasers up to a maximum of $6,500 (primary residences only). The bill will now go back to the House of Representatives for approval before reaching the presidents desk for his signature. Every little bit helps!

Light, Bright and Airy Home Staging

Keith Byrd

Greetings blog readers!  I have some different insight to share today.  There is a great new event coming to San Luis Obispo and the central coast, and an awesome opportunity to do something fun for a great cause.  This year on September 18, there will be a new event held in San Luis Obispo at Laguna Lake Park to raise money and awareness for cancer in San Luis county.  This event will focus on the connection to a healthy lifestyle for the whole family.  It will offer something for everyone, a kids walk all the way through a 100K bike ride, plus a concert and wellness expo.  To learn more about this great event and how to register or become involved please check it out @ www.centralcoastcancerchallenge.com   I hope to see you there!