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As I mentioned in my March, 2009 newsletter, “With low prices and low mortgage rates coming together at the same time, paradise is finally affordable.” After putting this month’s newsletter together and looking at both prices and rates, I felt last year’s headline and story were worth reviewing.
How long will this trend continue—especially if the FED raises rates to compensate for inflation? At this point, it’s anyone’s guess. In the meantime, this is a portion of what I wrote last March-- which still seems to apply . . . .
“If you didn’t over leverage yourself within the last five years and have maintained a good credit rating, you’re probably “good to go.” There’s a lot of money out there waiting to be lent so if you are motivated, call me.”
Together we’ll not only find the best mortgage but also the nicest “slice of paradise” your money can buy. Or,
. . . click to Search the Central Coast MLS for Homes and Land
If you’ve been looking for a loan recently but have had difficulty getting qualified, please call me. I work with some of the best lenders on the Coast. If anyone can get the job done these local professionals can do it.
Mortgage Rate Update: 30 year fixed: 4.875% @ 1 point or 5.000% @ no points.15 year fixed: 4.250% @ 1 point or 4.375% @ no points. These rates are subject to change so call me for the latest rate information!
In the meantime, take a look at last month’s sales numbers . . . .
Current Market Numbers
The total number of homes sold for all areas thus far for 2010 is 230. Last year’s total this time was 188; in comparison, market volume continues in an “up” trend when comparing the last two 12-month periods.
The current average price of a home is $487,000; for 2009 it was $479,000. In spite of these positive numbers; however, there are still a lot of bank owned/foreclosed homes that continue to make things interesting for the average Central Coast home seller. Most of our “distressed properties” continue to be located in both the north and south SLO county areas.
Additionally, the current average number of days homes are spending on the market is 109; for 2009 this number was 99. Remember, this “Days on Market” figure is determined by the time a home goes onto the MLS and when it is reported as having been placed into escrow and noted as a “pending sale.”
Lastly, the current average list-to-sales-price ratio is 96 percent; for 2009 it was 95 percent. The current average inventory of unsold homes is 6 months; for 2009 it was 6.53 months.
Click toView my Recent SLO County Real Estate Sale Stats by Area
My Advice to Sellers
If you’ve been thinking about selling your current home, call me. I can help you by successfully navigating the many challenges sellers face in today’s market place. Together we can put a marketing plan that will generate results. I guarantee it!
If would like a current estimate of the value of your home . . .
. . . Click to Search Your Home’s Value via my Free Market Analysis
March “Close of Escrow” Anniversaries: Kris Bringle, 3/3/05; John Cosko, 3/2/01; John & Mary Gibson, 3/4/97; Sandy McComas, 3/19/99; Jeff & Carrie MacLean, 3/7/00; Dan O’Connor, 3/15/99, Ed & Christina Chambers, 3/24/06; Jim & Nova Poff, 3/16/99 (El Dorado Home); Tom & Diane Salmon, 3/5/99; and Ed Laski & Karin Cheney 3/31/06.
Thanks again for allowing me to help you with your past purchases. Please let me know if you need a current market analysis as it may apply to lowering your current property tax bill!
Welcome New Clients: Darlene & Joe Phillips
Pickering Update:
Pam and I had a very pleasant/restful time while staying at El Capitan State Beach last week. We stayed at Ocean Mesa RV & camp ground for the bargain price of $63.00 per night. If you are looking for a clean/beautiful place take an RV or to camp that’s close by, this is about as good as it gets. Check out my latest Facebook photo album titled “Pickering’s El Capitan Getaway” to view some photos from our trip.
Also, congratulations to my favorite (and only) nephew, Max Ponte', on his second place finish in a recent mountian bike race in his home town of Austin, Texas. Nice work, Buddy!
This month's photo: "The Palms at Refugio State Beach"
As always . . .
“Thank you all for continuing to refer your friends and family.
I appreciate it very much!”
Paul
Broker Associate
Bay Osos Brokers,
CA DRE# 0997005
Email: paul@SLOhomes4sale.com
Website: SLOhomes4sale.com
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Proud Supporter of the SLO Food Bank Coalition
E-Newsletter copyright 2010
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