Morro Bay, CA Real Estate News

By Paul Pickering
(Bay Osos Brokers)
       With Morro Bay home prices getting beaten up pretty badly over the last few years, and depending on what and where you want to buy, it's likely they are about as low as they'll get.  So if home prices are already low, where is the real bargain these days?  In my opinion, "The most valuable bi-product-- or bargain-- of our current distressed economy is the current low mortgage interest rates." Remember when people were saying:  "home prices will never fall?" Now they're saying that interest rates will "never go up."  Interest rates-- as with home prices-- are cyclical.  And, with the growing national debt, the Fed will be forced to raise the current rates that, in my opinion, are artificially too low.     Whether its your first home, second home, or rental property, a long term r...
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By Paul Pickering
(Bay Osos Brokers)
Interested in finding out what your Morro Bay home is currently worth?  If so,   click for a Free/No Obligation Market Analysis of your Morro Bay home. In the meantime, here are the latest year-to-date sales numbers, averages prices, and number of days homes in Morro Bay are currently spending on the market (as of 1/1/10):    Area                                 Total Sales         Average Sales Price           Market Time Morro Bay                                   39                        525,000                      99 Stats are for single family homes and are derived from the Central Coast Multiple Listing Service and are subject to change & copyright law.  Copyright 2010.  Click to Visit My Website at SLOhomes4sale.com to view all Morro Bay homes currently for sale!     "Mr. Stati...
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By Paul Pickering
(Bay Osos Brokers)
Interested in finding out what your Morro Bay home is currently worth?  If so,   click for a Free/No Obligation Market Analysis of your Morro Bay home. In the meantime, here are the latest year-to-date sales numbers, averages prices, and number of days homes in Morro Bay are currently spending on the market (as of 1/1/10):    Area                                 Total Sales         Average Sales Price           Market Time Morro Bay                                   31                        519,000                      117 Stats are for single family homes and are derived from the Central Coast Multiple Listing Service and are subject to change & copyright law.  Copyright 2010.  Click to Visit My Website at SLOhomes4sale.com to view all Morro Bay homes currently for sale!     "Mr. Stat...
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By Paul Pickering
(Bay Osos Brokers)
If the price chosen to market your Morro Bay property was based solely on price comparisons of properties that have sold, you could either be leaving money on the table or making certain that your home is "sale proof" by overpricing it.   Click to View My Entire Article "Get and Appraisal First Before Selling!"  If you list your Morro Bay home with me, and subsequently have an independent 3rd party professional appraisal completed, I'll be happy to reimburse the cost of the appraisal if I'm able to sell your home. Click to Visit My Website at SLOhomes4sale.com to view all current Morro Bay homes currently for sale or to see how I can help you sell your home, FAST!     Paul Pickering Broker Associate, Bay Osos Brokers CA DRE License #0997005 SEARCH ENGINE KEYWORDS MORRO BAY HOME PRICES M...
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By Paul Pickering
(Bay Osos Brokers)
In response to the fed's "first-time & move-up home buyers' tax credits" due to expire on 4/30/10, the State of California has new legislation extending a tax credit of up to $10,000 to Morro Bay home buyers.  The credit is spread evenly over three years and is available to anyone who buys a newly built home or to first-time home buyers who buy a newly built or existing home.   To use this $10,000 credit, a home buyer must owe at least $3,333 in state income tax in each of the three years. A home buyer who owed only $2,000 in one year would lose $1,333 in tax savings that year. The unused credit cannot be used to reduce taxes owed in past or future years.  This program begins May 1, 2010 and extends to the end of the year.  Click to Visit My Website at SLOhomes4sale.com to view all Morr...
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By Paul Pickering
(Bay Osos Brokers)
Interested in finding out what your Morro Bay home is currently worth?  If so,   click for a Free/No Obligation Market Analysis of your Morro Bay home. In the meantime, here are the latest year-to-date sales numbers, averages prices, and number of days homes in Morro Bay are currently spending on the market (as of 1/1/10):    Area                                 Total Sales         Average Sales Price           Market Time Morro Bay                                   23                        539,000                      129 Stats are for single family homes and are derived from the Central Coast Multiple Listing Service and are subject to change & copyright law.  Copyright 2010.  Click to Visit My Website at SLOhomes4sale.com to view all Morro Bay homes currently for sale!     "Mr. Stat...
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By Paul Pickering
(Bay Osos Brokers)
Interested in finding out what your Morro Bay home is currently worth?  If so,   click for a Free/No Obligation Market Analysis of your Morro Bay home. In the meantime, here are the latest year-to-date sales numbers, averages prices, and number of days homes in Morro Bay are currently spending on the market (as of 1/1/10):    Area                                 Total Sales         Average Sales Price           Market Time Morro Bay                                   17                        579,000                      149 Stats are for single family homes and are derived from the Central Coast Multiple Listing Service and are subject to change & copyright law.  Copyright 2010.  Click to Visit My Website at SLOhomes4sale.com to view all current Morro Bay listings!     "Mr. Statistics" ...
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By Paul Pickering
(Bay Osos Brokers)
Interested in finding out what your Morro Bay home is currently worth?  If so,   click for a Free/No Obligation Market Analysis of your Morro Bay home. In the meantime, here are the latest year-to-date sales numbers, averages prices, and number of days homes in Morro Bay are currently spending on the market (as of 1/1/10):    Area                                 Total Sales         Average Sales Price           Market Time Morro Bay                                   11                        600,000                      165 Stats are for single family homes and are derived from the Central Coast Multiple Listing Service and are subject to change & copyright law.  Copyright 2010.  Click to Visit My Website at SLOhomes4sale.com to view all current Morro Bay listings!     "Mr. Statistics" ...
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1.  "Over Pricing Your Property:" Always be sure to look at my local area statistics so you can stay on top of what's happening in your area of the Central Coast.   Click to View my "Local Morro Bay Home Sales Statistics."     2. "Not Looking for Good Deals:"   I have access to virtually all bank-owned homes (REOs) on the Central Coast.  Call me and I'll put an REO specific property search together for you!   Or, Click to Search the Central Coast MLS for Homes and Land.    3. "Purchasing a Cheap Foreclosure:"   While foreclosures can offer homebuyers big discounts, these homes sometimes come with a great deal of deferred maintenance in the form of repairs requiring thousands to correct.                                                                                      4. "Not Using t...
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By Paul Pickering
(Bay Osos Brokers)
2009 was a very challenging one for the Central Coast of California--especially as it applies to the number of foreclosures that dominated the market place.  In that regard, the total number of homes sold for specific areas of San Luis Obispo County for 2009 was 2,711.* Last year's total this time was 2,689; in comparison, market volume was up by one percent over 2008 but prices were down from the previous year by approximately 20 percent:  the average price of a home for 2009 was $479,000; while ‘08's average price was $608,000.  The average number of days homes spent on the market for 2009 was 99.  2008's average was 110. The average list-to-sales-price ratio for 2009 was 95 percent.  2008's average-list-to-sale-price ratio was 94 percent.  The average inventory of unsold homes for 2...
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By Paul Pickering
(Bay Osos Brokers)
Interested in finding out what your Morro Bay home is currently worth?  If so,   click for a Free/No Obligation Market Analysis of your Morro Bay home. In the meantime, here are the latest sales numbers, averages prices, and number of days homes are currently spending on the market in your Central Coast Area!  Area Total Sales Average Sales Price Market Time (days) Cambria 93 729,000 128 Cayucos 26 773,000 114 Morro Bay 96 574,000 137 Los Osos 113  436,000 97  San Luis Obispo 194  618,000 90  Pismo Beach 62  815,000 117 Arroyo Grande 200  554,000  102 Grover Beach 83  347,000 95 Oceano 29  307,000 97  Nipomo 182  424,000 94 Atascadero 246  404,000 91 Paso Robles* 314  323,000 94  Templeton 86 689,000 136 All stats are derived from the Central Coast Multiple Listing Service and are subje...
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By Paul Pickering
(Bay Osos Brokers)
  If you are looking at a "short sale" home to purchase in Morro Bay, but the seller (or borrower) has a 1st trust deed and a 2nd, the likelihood of both lenders working out a solution is slim to none-particularly if a home's value has continued to diminish during the short sale process (typically 6 months or longer).   So you know, a successful short sale on a home with both a 1st and 2nd trust deed is entirely contingent on the 2nd trust deed recouping a minimum of 10 percent on the current loan's balance.  Furthermore, the actual close-of-escrow-ratio of homes being sold through a short sale process is less than one percent.   Don't confuse REOs or Foreclosures with Short Sales.  For more information on the pitfalls of Short Sales,   Click to read my entire Short Sale Advisory    Cl...
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By Paul Pickering
(Bay Osos Brokers)
Interested in finding out what your Morro Bay home is currently worth?  If so,   click for a Free/No Obligation Market Analysis of your Morro Bay home. In the meantime, here are the latest sales numbers, averages prices, and number of days homes are currently spending on the market in your Central Coast Area!   Current Year-to-Date Statistics in All Areas I have Clients . . . Area Total Sales Average Sales Price Market Time (days) Cambria 80 749,000 121 Cayucos 23 720,000 109 Morro Bay 89 576,000 138 Los Osos 94  442,000 96  San Luis Obispo 177  620,000 89  Pismo Beach 58  825,000 120 Arroyo Grande 179  552,000  106 Grover Beach 73  348,000 97 Oceano 24  315,000 97  Nipomo 161  428,000 97 Atascadero 213  393,000 87 Paso Robles* 281  322,000 100  Templeton 77 690,000 131 All stats are fo...
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By Paul Pickering
(Bay Osos Brokers)
Tired of Being a Landlord?  Need Help with a 1031 Exchange? Slow Rental Market Affecting Your Investment?   If you need to sell your Morro Bay rental or investment property I can help you:   -- Sell Your Rental or Investment Property for Top Dollar  -- Eliminate Your Landlord Duties & Headaches  -- Increase Current Cash Flow, Renew Depreciation, and Identify Better Investments, and  -- Defer 100 percent of Your Property's Capital Gains Tax!   Click for a Free Comparitive Market Analysis of Your Property    Click to View the IRS's rules regarding 1031 Exchanges   Click to View Tips on Selling Your Rental or Investment Property     Click to View Recent Home Sales Statistics or Click to View My Website   If you are tired of your Tenants, their Trash, Toilets and the Property Taxes currentl...
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By Paul Pickering
(Bay Osos Brokers)
It's still a great time to sell your Morro Bay home-providing you have the most accurate/up-to-date sales information and a good marketing plan like I can provide . . .     Click to Search Your Morro Bay home's Current Value Click to View The Latest Year-to-date Morro Bay Home Sales Statistics Click to Visit my website at SLOhomes4sale.com   Search all Morro Bay homes by price range to see what's currently on the market! Click:  Entry Level/ $0 to $350K Click:  Mid-range/ $350K to $550K Click:  Upper-range/  $550K to $750K Click:  Upper & Beyond/  $750K to $3,000,000  "Mr. Statistics" Paul Pickering, Broker Associate Bay Osos Brokers, CA DRE# 00997005 SEARCH ENGINE KEYWORDS: MORRO BAY PROPERTY VALUES MORRO BAY HOUSE VALUESWHATS MY MORRO BAY HOME WORTHMORRO BAY HOME SALESMORRO BAY CONDO ...
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By Paul Pickering
(Bay Osos Brokers)
Searching for . . . "MORRO BAY BANK OWNED HOMES, REOs, REPOs, or FORECLOSURES?"                                          If so, Click here to receive all Morro Bay Bank Owned Properties by Email, or Click to SEARCH all MORRO BAY HOMES under 300K Click to SEARCH all MORRO BAY LISTINGS from 300-500K Click to SEARCH all HOMES IN MORRO BAY over 500K Click to SEARCH recent MORRO BAY HOME SALES STATISTICS VIEW MY WEBSITE www.SLOHomes4Sale.com , or SEND ME AN EMAIL paul@SLOhomes4sale.com , I'll be happy to answer all of your questions!    Paul Pickering, Broker Associate Bay Osos Brokers, CA DRE #00997005 "Your Morro Bay Bank Owned, REO and Foreclosure Expert"  Seach Morro Bay Neighborhoods: ATASCADERO BEACH BAY PINE BEHIND SPENCER CLOISTERS EL MORRO ESTERO RV PARK HARBOR FRONT HARBOR TRACT HE...
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By Regina P. Brown, M.B.A., Broker, Instructor
(MBA Broker Consultants)
Today I was invited to become a member of OzWorth, the new concept in Speed Coaching!  But I wondered what I could get for FREE (since I'm on a budget)?  So I checked out their web site and found their story: "In 2001 Ozworth founder, Ryan Lee, was barely scraping by as a gym teacher.  While his colleagues were watching TV or reading the newspaper in the teachers lounge during their free periods, Ryan trekked through 3 blocks of the gang-infested streets to find a local library with free Internet access. He soaked up everything he could. He invested all his time and savings in learning everything he could about marketing and self-improvement. And very quickly, things began to change. "Within three months, he was earning more with his "part-time" income than his full-time teaching job. W...
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By Regina P. Brown, M.B.A., Broker, Instructor
(MBA Broker Consultants)
While the TV & newspaper media are shouting about how bad the recession is, and real estate property values are sinking lower, savvy investors are quietly snapping up all the bargain houses.  At least here on the coast of California! While the banks are busy grabbing our taxpayer money, and down-and-out home buyers are abandoning their houses when they lose their jobs, on the other hand CASH buyers seem to be appearing out of nowhere!  Are you sure there's really a recession going on??? I have first-time buyers shopping for a house at the low end of the market.  So you wouldn't think there would be a lot of competition... but they've been outbid at every home they liked!  One property they liked had 11 offers by the second day, and we were told not to make an offer unless it was $100,00...
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By Regina P. Brown, M.B.A., Broker, Instructor
(MBA Broker Consultants)
Okay, I've now accumulated 7 8 9 TOO MANY new COOL Twitter tools that I just HAD to share with you (if you're on Twitter, that is!). 1. http://twitter.com/MrTweet - Who should you follow?  This great service analyzes your profile and the folks you are following, and recommends new people for you to follow.  It's excellent! 2. http://friendorfollow.com - Who's NOT following you?  This brand NEW service shows you ALL the people you are following, who are NOT following you back.  So you can send them each a "tweet" asking that they follow you back.  "I'm following you on Twitter, please follow me back!" 3. http://twitter.com/grader - This service analyzes your usage and tweets you back with a "grade".  For instance, 79/100. 4. http://tinyurl.com to help you shorten your TWEETS to fit into ...
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  CENTURY 21 Hometown Realty agents recently attended a two-day seminar hosted by the Scenic Coast of REALTORS® in Morro Bay.  The ‘Green Designation' program is administered by the National Association of REALTORS®. This course was first launched at the N.A.R. annual conference in November 2008. The curriculum gives REALTORS® a broad understanding of green real estate principles--from the concepts of sustainability and smart growth.  As a practical resource, this course shows real estate professionals how to explain to consumers what makes a home, building, or property green, energy efficient and how to obtain an energy audit.  Agents will be able to advise clients on ENERGY STAR appliances, green grants, rebates and incentives for consumers to help off-set costs. The CENTURY 21 agents...
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