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San Luis Obispo, CA Real Estate News

By Sonsie Conroy, Energetic, Enthusiastic, Knowledgeable Realtor
(I serve buyers and sellers everywhere in San Luis Obispo County)
Monterey Heights, one of the older neighborhoods in San Luis Obispo, is also one of the most eclectic. Narrow, winding streets climb the hilly terrain, providing great views over the city and the surrounding hills. Homes range from 1920s Spanish-style bungalows with period details still intact to striking California Moderne houses perched on stilts looking out over the Edna Valley. Cal Poly lies nearby, to the north and west, while the 101 freeway is the southern border. Students rent many of the homes on the north and west sides, making for a more lively, mixed neighborhood. Farther uphill, toward the freeway and Cuesta Park, is a quieter, more family-oriented area. A few vacant lots are available, and existing home prices can range from $500,000 to over $1M. Many homes are sited on fa...
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By Regina P. Brown, M.B.A., Broker, Instructor
(MBA Broker Consultants)
Treasury revises agent commission rate on HAFA short sales The U.S. Dept. of the Treasury recently made an unexpected change to the Short Sale Agreement Form used in the Obama administration's Home Affordable Foreclosure Alternatives program.  The form, which notifies the homeowner they qualify for a HAFA short sale and states the acceptable terms and conditions, now allows the loan servicer to decide the acceptable real estate commission.  However, if the homeowner signed a listing agreement with an agent and has a short sale offer that was accepted prior to receiving a HAFA Short Sale Agreement, the homeowner can submit an Alternative Request for Approval of Short Sale to the loan servicer allowing the commission stated in the listing agreement to stand, up to 6 percent. C.A.R. and NA...
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By Sonsie Conroy, Energetic, Enthusiastic, Knowledgeable Realtor
(I serve buyers and sellers everywhere in San Luis Obispo County)
If you've ever driven Highway 101 through San Luis Obispo, you can't have missed the Madonna Inn, perched on the hillside near the freeway, and painted in as many shades of pink (and white) as you can imagine. The gaudy gingerbread exterior belies an even more extravagant interior: 110 rooms, each with its own amazing decor, plus banquet rooms for intimate weddings & receptions, exclusive clothing, gift & wine shops and limo service. Recently the hotel added picturesque European-style pool, state of the art exercise room, and a day spa. The Madonna Inn is also home to the largest convention center on the Central Coast. Founded by Alex and Phyllis Madonna over 50 years ago, this fantasyland offers a unique ambience, great food, and the most unusual men's rooms you'll probably ever see. T...
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By Regina P. Brown, M.B.A., Broker, Instructor
(MBA Broker Consultants)
Announcing the latest monthly sales comparison report for San Luis Obispo, California, as printed by the San Luis Obispo Association of Realtors with data pulled from the Central Coast MLS: According to the chart, number of listings, number of sales, and dollar volume of sales are UP compared to last year!  This market report is for the city of San Luis Obispo, county of San Luis Obispo, California on the Central Coast. Regina P. Brown
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By Paul Pickering
(Bay Osos Brokers)
Interested in finding out what your San Luis Obispo home is currently worth?  If so,   click for a Free/No Obligation Market Analysis of your San Luis Obispo home. In the meantime, here are the latest year-to-date sales numbers, averages prices, and number of days homes in San Luis Obispo  are currently spending on the market (as of 1/1/10):    Area                                 Total Sales         Average Sales Price           Market Time SLO                                        29                        669,000                      137 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 San Luis Obispo listing...
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By Paul Pickering
(Bay Osos Brokers)
Interested in finding out what your San Luis Obispo home is currently worth?  If so,   click for a Free/No Obligation Market Analysis of your San Luis Obispo home. In the meantime, here are the latest year-to-date sales numbers, averages prices, and number of days homes in San Luis Obispo  are currently spending on the market (as of 1/1/10):    Area                                 Total Sales         Average Sales Price           Market Time SLO                                        11                        629,000                      94 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 San Luis Obispo listings...
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By Paul Pickering
(Bay Osos Brokers)
According to a recent survey from Foreclosure Radar, a leading web-based research firm that monitors foreclosures in California, the number of foreclosures in California decreased in December '09 as compared to December '08. When comparing SLO County to other counties with in the state, however, the number of foreclosures actually went up when comparing December '08 with '09.  However, when comparing the volume of foreclosures in San Luis Obispo County with other counties within the state, SLO County barely registers.  This, in large part, can be credited to the county's geographic location, but most importantly, to its ridged control over growth. If an educated conclusion can be drawn from this industry survey, volume should be used as the most import factor as it applies to evaluating...
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By Paul Pickering
(Bay Osos Brokers)
According to a recent survey from Foreclosure Radar, a leading web-based research firm that monitors foreclosures in California, the number of foreclosures in California decreased in December '09 as compared to December '08. When comparing SLO County to other counties with in the state, however, the number of foreclosures actually went up when comparing December '08 with '09.  However, when comparing the volume of foreclosures in San Luis Obispo County with other counties within the state, SLO County barely registers.  This, in large part, can be credited to the county's geographic location, but most importantly, to its ridged control over growth. If an educated conclusion can be drawn from this industry survey, volume should be used as the most import factor as it applies to evaluating...
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By Paul Pickering
(Bay Osos Brokers)
According to a recent survey from Foreclosure Radar, a leading web-based research firm that monitors foreclosures in California, the number of aggregate foreclosures in California decreased in December '09 as compared to December '08. When comparing San Luis Obispo County to other counties with in the state, however, the number of foreclosures actually went up when comparing December '08 with '09.  However, when comparing the volume of foreclosures in San Luis Obispo County with other counties within the state, SLO County barely registers.  This, in large part, can be credited to the county's geographic location, but most importantly, to its ridged control over growth. If a coherent conclusion can be drawn from Foreclosure Radar's survey, volume should be used as the most import factor...
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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 San Luis Obispo 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 U...
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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 ...
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By Sonsie Conroy, Energetic, Enthusiastic, Knowledgeable Realtor
(I serve buyers and sellers everywhere in San Luis Obispo County)
Interesting Numbers SLO stick-built homes sold for a bit less and took a bit more time to leave the market in the last quarter of 2009, but more sold than in the last quarter of 2008. The large inventory is being absorbed, and 2010 should see a small price increase, fewer days on the market, and more overall activity. 9/1 - 12/31 2008      ¤ 62 homes sold      ¤ average square footage: 1928      ¤ high sales price: $3,200,000      ¤ low sales price: $280,000      ¤ average sales price: $704,575      ¤ median sales price: $610,000 ($371.63 per s.f.)      ¤ ratio of sales price to asking price: 92.57 9/1 - 12/31 2009      ¤ 71 homes sold      ¤ average square footage: 2109      ¤ high sales price: $6,800,000      ¤ low sales price: @295,000      ¤ average sales price: $752,041      ¤ medi...
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By Regina P. Brown, M.B.A., Broker, Instructor
(MBA Broker Consultants)
...Continuation of "Organize your Office" series to get a Fresh Start for 2010!  A desk can get quickly buried in incoming mail, papers, receipts, business cards, bills, and notes to yourself.  Instead, use an IN box and sort from there.  If you have time, sort out your incoming papers every day.  If not, dump everything into an IN shoebox and sort it once per week. A. Incoming Sorting System 1. Put a shallow "IN" box or shoebox near your desk. 2. Put trash 3 bins nearby and label with large labels on all sides: Trash bin Recycle bin Shred bin 3. Put 2 plastic/wire sorting systems near your desk - one for Personal and one for Business.  I use a plastic sorter stand (such as Staples item 15846, model 38686) because I can place it on top of stackable side-load letter-size trays, which I u...
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By Sonsie Conroy, Energetic, Enthusiastic, Knowledgeable Realtor
(I serve buyers and sellers everywhere in San Luis Obispo County)
  When we first moved to San Luis Obispo County in 1978, downtown SLO businesses would stay open late on Thursday nights to give people a chance to shop later than 5:00 p.m. "Cruise Night" for teenagers was also Thursday, and the kids packed Marsh and Higuera Street, the "main drags," clogging traffic and blocking parking and pedestrian walkways. This, in turn, deterred people from coming to shop on Thursday nights. The Downtown Association decided to barricade six blocks of Higuera on those evenings so people could still shop late. Now the trick was to get people to come back to town! In early 1983, the Downtown Association began arranging for special activities and entertainment on Higuera Street. Downtown restaurants came out to offer food and to barbecue ribs. That summer, local far...
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By Sonsie Conroy, Energetic, Enthusiastic, Knowledgeable Realtor
(I serve buyers and sellers everywhere in San Luis Obispo County)
Is your neighbor's barking dog driving you crazy? Have you and your roommates practically stopped speaking to each other because you're all angry over housekeeping issues? Are you being sued in Small Claims Court over a tenant deposit you did not return? If these or similar issues are making you miserable, you need to try mediation. This type of problem-solving  is extremely effective, and everyone involved comes away feeling satisfied with the solution. Participants meet with a trained referee, or mediator, who helps them communicate their needs and issues in a respectful and calm manner, and work out a voluntary dispute solution among themselves. The communication and discussion skills involved in mediation are useful tools for everyday issues we all run into: workplace disagreements,...
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By Paul Pickering
(Bay Osos Brokers)
Interested in finding out what your San Luis Obispo home is currently worth?  If so,   click for a Free/No Obligation Market Analysis of your San Luis Obispo 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 for single family homes.  *Stats for Paso Robles include...
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By Paul Pickering
(Bay Osos Brokers)
Interested in finding out what your Pismo / Shell Beach home is currently worth?  If so,   click for a Free/No Obligation Market Analysis of your Pismo / Shell Beach 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 1...
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By Paul Pickering
(Bay Osos Brokers)
  If you are looking at a "short sale" home to purchase in Pismo Beach, 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   C...
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By Paul Pickering
(Bay Osos Brokers)
  If you are looking at a "short sale" home to purchase in San Luis Obispo, 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...
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By Connie Winstead, San Luis Obispo County CA Real Estate Agent
(Nancy Puder & Associates )
On October 25, 2009, some friends and I attended the U2 Concert at the Rose Bowl.  It was fabulous!  There were over 90,000 fan and the group energy was so incredible.  It had been a few years since I had attended an event like this and I had forgotten what it was like.  I've been a big U2 fan since the 80's.  They played solid for almost three hours and put on quite a show.  The set was designed like a space ship completely "in the round", so every seat was a good one.  During the show, Bono actually spoke to an astronaut on the International Space Shuttle.  They played most of their old hits and everyone danced and screamed and just had a wonderful time.    It was hot in Pasadena, there was lots of standing, waiting and climbing steps.  But this old boomer still has it goin on and I a...
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