Month: January 2017

Perched near the top in Indian Hill, a 55+ active adult community within the gates of San Luis Bay Estates, this lovely home evokes the feeling of a tree-house. Sit outside on the spacious deck, admire the view from the windows and enjoy the peaceful surroundings of this quiet neighborhood. Built in 2005, this 3 bedroom, 2 bath modular home features hardwood flooring, crown molding throughout and a spacious kitchen with built-in desk and eating area. Although you won’t need it very often, when it is hot outside this home has central air conditioning! An attached 2 car garage also features a work room and storage area. For full-time residents or as a vacation home, the gated entrance provides a sense of security. Schedule a showing right away as these homes are in high demand.
Kay Cementina 805.748.1438

Popular Villa Rosa in San Luis Obispo! One of the best managed and maintained developments on the Central Coast. This 3 bedroom, 2 and a half-bath unit is perfectly situated towards the back of the development with views of the hills and ample guest parking. Close to downtown, shopping and restaurants. Immaculately maintained and move-in ready. Two car garage. Watch the fireworks at Sinsheimer Park without leaving home! Explore the beautiful California coastline from this ideal location between San Francisco and Los Angeles. www.2903Garibaldi.net
Sandra Lee 805.550.6052

This beautiful Bradley Square home features an open plan, bright and filled with light. One of the larger floorplans with 2364 sq ft, 4 bedrooms/3 bathrooms, which includes a spacious upper-level master suite with walk-in closet, indoor laundry, patio & 2-car garage. Great location close to shopping.
Kim Renshaw 805.440.9134

This Harvest Glen home is like brand new! This four bedroom, three bath, one story home has a great floorplan! One bedroom and bath is in the front of the home with the other three bedrooms (including the master suite) is in the back. Beautiful granite counters in the kitchen with island and open to dining area and family rooms. Extra concrete in the backyard for BBQs and outside fun. All bedrooms have ceiling fans, too!
Wendy Teixeira 805.310.3505

Beautiful Custom Home in Sculptures. This immaculate single story home has 4 BR, 2 1/2 Bath and a 3 car tandem garage. Wonderful Kitchen features granite counters, electric oven/range, newer dishwasher, stainless steel refrigerator, RO system and breakfast nook. Family room with included 65 inch flat screen Samsung TV. Large dinning area with custom china cabinet included. Large Master Bath with dual sinks and separate tub and shower. Professionally landscaped front yard and back yard with a covered patio. Property has Central A/C and Water softener included. ***Information deemed reliable but not verified or guaranteed by broker***
Shea Hutchinson 805.260.6322

The San Luisa Obispo County’s Real Estate update includes data for all cities and surrounding areas of the Central Coast for the four quarters that made up the year of 2016 (January-December).

• 2,869 Total Home Sales (2016) vs. 2,852 (2015)
• $555,000 Median Home Price (2016) vs. $525,000 (2015)
• 98.05% Sales per List Price (2016) vs. 97.92% (2015)
• $342.15 Average Price per Square Foot (2016) vs. $325.80 (2015)
• 68 Cumulative Days on the Market (2016) vs. 73 (2015)

All five of the reported components of the real estate report for San Luis Obispo County improved in 2016 from the year prior, 2015.

Total home sales increased by a small 17 total homes. However, the total number of sales that were normal vs. the distressed sales (REOs and short sales) increased by 1%, meaning there were less foreclosures in the year of 2016 vs. 2015.

The median home price increased from $525,000 in 2015 to $555,000 in 2016 for an increase of over 5% or a total of $25,000.

The price per which a home is sold for vs. what it was listed for increased by .13% on a year on year basis. This increase means homebuyers are willing to pay more of the listing price of a home when compared to last year.

The average price per square foot increased by a total of $16.35 on a yearly basis.

The cumulative days a home for sale sits on the market for decreased by five days meaning homes are selling at a faster pace for the year of 2016 when compared to the year prior.

The floating rate lock sometimes allows you to take advantage of improvements in rates.

Some lenders allow a float down for some fraction of the improvement.  For example, if you are locked at 3.625% paying one point and mortgage prices improve such that 3.625% is no points, then some lenders will allow a float down.  Generally, a float down requires at least one point improvement in fees and then the lender will agree to give you half the improvement.  This means that in our scenario above, the new rate after the float down is 3.625% paying a half point.

Note: not all lenders allow a float down, so make sure you find out what policy you are locking in ahead of time.

Float downs are a way for banks to avoid loosing business when rates are in a downward environment. Every bank that offers float downs has some fee associated with the service so it’s important to understand that cost.  Usually it makes more sense to switch banks if the savings is compelling.  Switching banks within a brokers list of approved lenders is easier than moving from a large commercial bank to another.  Of course, if you are moving from a bank to a broker, your savings are likely to be substantial!

Lake Nacimiento (as of 1/19)
Percent of Capacity: 59%

San Antonio  (as of 1/19)
Percent of Capacity: 17%

Lopez Lake (as of 1/19)
Percent of Capacity: 28.8%

Whale Rock Reservoir (as of 1/19)
Percent of Capacity: 45.81%

 

The 101 Halcyon on ramp/exit in Arroyo Grande is set to open again tomorrow.  It’s been so nice not to have a line of traffic when trying to go under the highway.  Oh well…it was nice while it lasted.

Following is the number of 4+ bedroom homes sold in 2016 (by city):

Paso Robles – 243 homes sold with 4+ bedrooms
San Luis Obispo – 135
Arroyo Grande – 94
Atascadero – 85
Nipomo – 69
Templeton – 48
Pismo Beach – 27
Morro Bay – 26
Los Osos – 23
Cambria -22
Grover Beach – 13
Oceano – 8
Cayucos – 2
Avila Beach – 1

4+ bedroom home sales were 25.8% of the total number of home sales for SLO County in 2016.