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Displaying blog entries 1-10 of 155

Interest Rate Impact

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Here's a new infographic from the CALIFORNIA ASSOCIATION OF REALTORS®. How does this affect you & your plans? Give us a call with questions or to talk through scenarios! 805-238-1555

 

North County Real Estate Update

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Our good friend and broker here at RE/MAX Parkside Real Estate just published a market update for North County. It's a great read - well worth a few minutes of your time!

 

North County real estate update: Average home price is $479,000 

By Pete Dakin

This is a report on First Quarter Real Estate Activity 2018 in North San Luis Obispo County.

Pete Dakin

 

Realtor Pete Dakin

It has been a decade since the severe recession of 2008 and North County has moved forward quite nicely along with the rest of coastal California. In the coming months of May, June, July and August, we will see 40% of the total home sales for this year. The real estate season is open!

Residential single family homes have an average sale price of $479,000 which reflects a robust 11% year over year price increase. Actual sales declined by 15% year over year as the supply of homes continues to shrink at the lower price points. The average days on market dropped down to 42 days from contract to close. There is still a dearth of new construction. More homes will be coming on the market from what I see in our office.

At least once a week a million dollar plus property sells in North County. More million dollar properties will sell in North County than ever before this year. Additionally, we have a number of multi-million dollar deals going on right now. There are a few factors contributing to this luxury home sales uptick. These properties are selling below replacement cost today so the value proposition looks favorable to Buyers. More homes with vineyards are selling. There is still a good selection of quality luxury product available. Luxury product Buyers are more selective and value conscious.

There is more Buyer activity in existing vineyard properties with homes and without homes. There are probably a couple reasons this aforementioned trend is happening. Our County water restrictions have highlighted the value of existing vineyards and historical water usage. Reason number two is that our grape prices remain firm.

The groundwater situation continues to grow arms and legs. Once the government jumped in the control of the basins we most likely will head down a windy road until the dust settles over the next decade. This is not a political statement. We get what we elect. We live in a growing State and people have to eat. The supply issue of water will need to be addressed sooner rather than later.

Currently the hospitality industry is the big story in North County. Paso Robles is leading the entire County in tourism and development for tourism. Wine tasting room sales have been solid. Paso Robles brands continue to expand across the world. This is a slow and steady process but it’s happening.

The spector of higher interest rates hangs over the market but the reality is we still have favorable debt available and we have an economy that is as solid as we have seen since 2008. San Luis Obispo County continues to garner accolades like “the happiest place on earth” and “top places to visit in the world”. Right here, right now. I, for one, remain party fresh.

 

SOURCE: Paso Robles Daily News 

 

Six Great Reasons to Buy a Home

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This infographic does a great job outlining some of the key benefits of homeownership. If you're looking to take the next step towards buying a home give us a call today! We can walk you through options and next steps whether you're a first-time homebuyer or getting ready to down-size. 

 

Finding the right down payment strategy

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You’ve most likely heard the rule: Save for a 20 percent down payment before you buy a home. The logic behind saving 20 percent is solid, as it shows that you have the financial discipline and stability to save for a long-term goal. It also helps you get favorable rates from lenders.

But there can actually be financial benefits to putting down a small down payment—as low as three percent—rather than parting with so much cash up front, even if you have the money available.

THE DOWNSIDE

The downsides of a small down payment are pretty well known. You’ll have to pay Private Mortgage Insurance, and the lower your down payment, the more you’ll pay. You’ll also be offered a lesser loan amount than borrowers who have a 20-percent down payment, which will eliminate some homes from your search.

THE UPSIDE

The national average for home appreciation is about five percent. The appreciation is independent from your home payment, so whether you put down 20 percent or three percent, the increase in equity is the same. If you’re looking at your home as an investment, putting down a smaller amount can lead to a higher return on investment, while also leaving more of your savings free for home repairs, upgrades, or other investment opportunities.

THE HAPPY MEDIUM

Of course, your home payment options aren’t binary. Most borrowers can find some common ground between the security of a traditional 20 percent and an investment-focused, small down payment. We'd be happy to sit down with you and talk through what makes the most sense for your specific needs and goals. Give us a call at 805.238.1555 or email info@realteam360.com.

Wire Fraud on the Rise

by Brian Thorndyke

This is unfortunately becoming a big issue for homebuyers. Simple solution though - call and verify!

Protect Your Home Against Wildfires

by Scott Ehrke

California has had its share of wildfires this year, and the resulting devastation has been unbearable. Traditionally, when we think about protecting our homes against wildfires the first thought is defensible space. And this is hugely important - see our earlier blog post for more info. But this graphic outlines even more ways to protect against wildfires. Take a look and see if there are any other changes you can make to help keep your home safe!


Tax Reform: Is California a Winner or a Loser?

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Not everyone is a winner in California real estate here. The new tax reform brings little positive, if not a bit of negative, to our otherwise robust real estate market. So, we’ll do what we always do – make the most of what we have. If you’d like to review how this impacts you, call us for a personalized review of your position.

Scott Ehrke & Brian Thorndyke 805.238.1555 I RE/MAX Parkside Real Estate

 

 

Be a smarter buyer with this new home checklist

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When you’re house hunting, information is power. The more you know before you make an offer, the better. Often when two homes are equally appealing, digging into the details can make a difference. Here’s a list of items that many buyers overlook or forget to ask about while they’re shopping for a house:

Homeowner’s association rules: Certain neighborhood covenants may be a deal maker or breaker for you, so if there’s a set of guidelines you’ll be required to adhere to, get them up front. They can cover everything from paint colors to lawn design and beyond.

Utility bills: Most sellers won’t balk at sharing with you what utilities cost annually. Water, power, gas, and even telecommunication or cable service provider bills can help you get a better idea what it will cost monthly to live in the home.

Pest control: In areas where pests can be a problem, asking for information about who has been maintaining pest control (and how much it costs) can help you plan financially and get a sense if the sellers have been keeping up with pest issues.

Service providers: Save yourself some legwork and ask the sellers who they like for lawn maintenance, pool maintenance, home repair work, house cleaners, and appliance repair. Not only will the list save you time, but the providers will already be familiar with the home’s condition and systems.

Home insurance company: You can bet the company insuring the home will want to continue to keep the business, and getting this cost information and provider contact info from the buyer is a good idea.

Floor plans: Having a floor plan will help you understand whether or not your stuff is a good fit for the home. Not every seller will have these handy, but sometimes a seller’s agent will be willing to get a current floor plan put together if it’s important to you.

These may seem like small details, but sometimes they can make all the difference!

I love helping home buyers make informed decisions about their next home. I can help you walk through the pros and cons of every detail. If you’re thinking about buying give me a call or shoot me a message.

 

Sincerely,

Scott Ehrke

RE/MAX Parkside Real Estate

805-238-1555

scott@scottandbrian.com

Remodeling for Resale

by Scott Ehrke

This is a great infographic from the California Association of Realtors detailing the five most common exterior remodeling projects and what they mean for resale. Each has an estimated cost and recovery percentage. A new roof seems to make the most sense with an estimated recovery of 109%, it's a no-brainer. Feel free to share your thoughts or experiences in the comments!

Shop Local For Small Business Saturday

by Scott Ehrke

It’s Small Business Saturday! Being small business owners, this one’s near and dear to us. If you’ve got some holiday shopping to do, get out and support our local merchants today! Below is a list of some of our favorites right here in Paso. From goods to antiques, to delicious food and drinks – we have it all right here at home.

Farm Supply Company

General Store Paso Robles

Relics Mall Antiques

Birch Fabrics

Pasolivo

Thomas Hill Organics

Twisted and Glazed

Asuncion Ridge

Santa Maria Brewing Company

Spearhead Coffee

Extensive business list here from the Main Street Association

Do you have a favorite small business that you’d like to give a shout out to? Let us know in the comments!

 

Displaying blog entries 1-10 of 155

Contact Information

Real Team 360
RE/MAX Parkside Real Estate - BRE #01421338
1213 Vine Street
Paso Robles CA 93446
Office: (805) 238-1555