San Luis Obispo, CA Real Estate News

By Regina P. Brown, M.B.A., Broker, Instructor
(MBA Broker Consultants)
Have you ever stayed up late at night and while flipping the TV channels, you see those Infomercials promising to get rich quick in real estate?  Ever wonder if it's really possible to buy a property for only ONE dollar ($1?) down payment? Today's topic is all about the "Earnest Money Deposit".  This deposit is money that you give to the property seller to execute your "offer to purchase" contract.  It is also known as "good faith" money. Buyers often ask, "How much money do I have to put down on a property purchase?"  A good rule of thumb is 2% of the purchase price.  In California, it is often a $1,000 to $5,000.  Sometimes the seller will ask you to increase the deposit, depending on how secure he feels with your offer.  He may have a lot of offers and want to protect himself in case...
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By Marsha Willingham, Selling San Luis Obispo Country Club Estates
(Central Coast Realty Group)
Marsha Willingham | Patterson Realty | 805-748-1480 5836 Salisbury Ln., San Luis Obispo, CA Panoramic Fairway Views of San Luis Obispo Golf and Country Club 4BR/3.5BA Single Family House offered at $1,400,000 Year Built 1989 Sq Footage 3,450 Bedrooms 4 Bathrooms 3 full, 1 partial Floors 2 Parking Unspecified Lot Size 9,014 sqft HOA/Maint $135 per month DESCRIPTION Panoramic fairway views of San Luis Obispo Golf & Country Club. Spacious floor plan and abundant storage. see additional photos below PROPERTY FEATURES Central heat Fireplace High/Vaulted ceiling Walk-in closet Hardwood floor Tile floor Family room Living room Office/Den Dining room Breakfast nook Dishwasher Refrigerator Stove/Oven Microwave Attic Washer Dryer Laundry area - inside Balcony, Deck, or Patio Yard COMMUNITY FEATU...
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By Marsha Willingham, Selling San Luis Obispo Country Club Estates
(Central Coast Realty Group)
Marsha Willingham | Patterson Realty | marsha@exclusivelysanluis.com | 805-748-1480 1720 Fredericks St, San Luis Obispo, CA A stone's throw from Cal Poly!! 5BR/3BA Single Family House offered at $890,000 Year Built 2003 Sq Footage 2,438 Bedrooms 5 Bathrooms 3 full, 0 partial Floors 2 Parking Unspecified Lot Size 5,639 sqft HOA/Maint $0 per month DESCRIPTION Short distance to Cal Poly. Home has new carpet, new paint, new appliances. Fresh and pretty. Upstairs bedrooms are all good sized. Big master bedroom with a spa like bathroom. Perfect backyard for BBQ's with a park on the other side of the fence. Literally about a 5 minute walk to Cal Poly. see additional photos below PROPERTY FEATURES Central heat Fireplace High/Vaulted ceiling Family room Living room Dining room Breakfast nook Re...
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By Marsha Willingham, Selling San Luis Obispo Country Club Estates
(Central Coast Realty Group)
Marsha Willingham | Patterson Realty | 805-748-1480 Davenport Creek Rd., San Luis Obispo, CA Premier Equestrian Center 4BR/4BA Single Family House offered at $3,850,000 Year Built 2004 Sq Footage 4,000 Bedrooms 4 Bathrooms 4 full, 0 partial Floors 2 Parking 4+ Car garage Lot Size 10 acres HOA/Maint $0 per month DESCRIPTION AUTHENTIC MISSION STYLE CUSTOM HOME • 4,000 Sq. Ft. with 4 bedrooms, 4 baths and separate office. Extra thick 12 inch walls allows for R38 insulation and recessed windows. Top of the line windows and doors from Southwest Doors and Windows of Santa Barbara. • Large kitchen with custom knotty-alder cabinets, large butcher-block island, hand-hammered copper sinks, walk-in pantry. • Working antique wood-burning stove in kitchen offers charm and excellent winter heat sour...
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By Regina P. Brown, M.B.A., Broker, Instructor
(MBA Broker Consultants)
Here on ActiveRain, the number of comments you get has nothing to do with how great the blog is, unfortunately.  There are many GREAT blogs that have been overlooked and received NO comments, can you believe that? One of my recent blogs just got featured and I got over 60 comments in less than 24 hours.  It was amazing.  But I posted an equally great blog yesterday, and as of today, not a single comment.  What gives? Well, if you want to get more comments on your blog, what you need to do is: 1. Post each blog to 5 groups (that is the maximum).  I have joined about 30 groups and I rotate my posts amongst groups.  And I always make sure that each post goes into at least 1 VERY active group.  Click on "Groups" above to see a list of the top 10 most frequently-read groups. 2. Add other AR'...
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By Regina P. Brown, M.B.A., Broker, Instructor
(MBA Broker Consultants)
Homes sold in San Luis Obispo county, California for the 1st quarter of 2009 include San Luis Obispo, Arroyo Grande, Morro Bay, Pismo Beach, Los Osos, Atascadero, Paso Robles, Templeton, Cambria, Nipomo, Harmony, and Cayucos. For single family houses, the average sales price last year was $449,00 and this year so far is about $375,000.  For condos, last year the average sales price was $352,500 and this year it is $295,000. Here are the stats, thanks to Realist, which pulls data from the county public sales records:   HOME BUYERS:  If you'd like to talk about homes for sale that you may want to buy, please give me a call!  (888) 550 - 9340 and I'll be happy to help you.  I've helped first time home owners, cash investors, relocating families, and corporate clients.  And I promise I'll w...
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By Regina P. Brown, M.B.A., Broker, Instructor
(MBA Broker Consultants)
Don't you hate it when you're at a Chamber of Commerce mixer, and that agressive marketing rep (or pushy salesperson) won't leave you alone!  It's like, "Hello, my name is Alexis.  Will you buy my product?"  They proceed to tell you how great their business is.  You're not interested right now.  Then they resort to begging for your business.  That is a total turn-off.  If you were even considering their company's product, they just blew it.  We don't come up to a new acquaintance and immediately ask him/her to marry us -- so why do we try this brutally direct approach in business?  It's time to get up to speed on today's new business model. Would you do this? Meet a new person for the first time. Ask him/her to marry you. NO WAY!  That is ridiculous!!!  Here's the social process we usua...
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By Regina P. Brown, M.B.A., Broker, Instructor
(MBA Broker Consultants)
Attention California Coast Home Sellers:  Are you looking for an agent to sell your house?  A professional who is reliable and trustworthy?  A Realtor® who will help you get it sold quickly and for the highest price?  Someone maybe experienced with short sales?  An expert with a great marketing plan to attract the most qualified buyers? Consider hiring me, Regina P. Brown, to help you sell your house.  I promise that I will work diligently on your behalf.  I am experienced with selling houses, condos, investment property, and acreage.  I've worked lenders to get short sales approved.  Here's what I can do to help you sell for the highest price and in the shortest amount of time: I Guarantee I Will: Get your property fully exposed to the market quickly Help you net the most money possibl...
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By Regina P. Brown, M.B.A., Broker, Instructor
(MBA Broker Consultants)
In February 2009, there were 13 houses sold in the city of San Luis Obispo, California.  The lowest was 12 and the highest was 28! What does that mean for you?  Buying opportunities!  Because fewer homes have sold, there is a larger select to choose from!  And with lower prices that ever!!  Contact us and we'll help you get a great bargain on that DREAM home you've always wanted.   Are you thinking about buying a home?  Or selling your house?  Want some investment property?  Or just trying to save your house from foreclosure?  Let us outline some solutions for you, and recommend a few ways we can HELP you! We serve the California coast including San Luis Obispo, Santa Barbara, and San Diego counties and we'd LOVE the opportunity to assist you.  Put us on your side, we're part of your wi...
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By Sherry Peckhoon Sim, Broker/Owner, Covering the Beautiful Central Coast
(Sims & Company)
   JANUARY-DECEMBER 2008 VERSUS JANUARY-DECEMBER 2007 SAN LUIS OBISPO           SALES AVG.DOM HIGH LOW MEDIAN 2007 275 83 $4,561,492.00 $369,000.00 $655,000.00 2008 209 93 $3,200,000.00 $280,000.00 $625,000.00 2008/2007 -66 10          ($30,000.00) % DIFFERENCE -24% 12%     -5%   Like every other markets, the city of San Luis Obispo was not spared by the decline in home sales and prices on stick-built single family residences.  Notwithstanding that the city of San Luis Obispo is a college town that tend to face higher turnover in ownership, home sales fell by a huge 24% in 2008.  Compared to 2007 where there were 275 home sales, only 209 sold in 2008. It's interesting to note too that there are fewer million-dollar purchases in San Luis Obispo during 2008.  Of the 209 sales in 2008, onl...
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By Regina P. Brown, M.B.A., Broker, Instructor
(MBA Broker Consultants)
Compliments of Dena Cagliero from First American Title Company, this chart shows that there were only 13 closed sales in January 2009, which is down from a high of 25 closed sales in January 2008.  This is for the real estate sales that closed escrow in the City of San Luis Obispo, California.   This chart's a little difficult to read, if you want the full-size version, please contact me.  THANKS! Join my new AR group and post your blog at http://activerain.com/groups/virtualoffice Regina P. BrownBroker, Realtor®, e-ProAuthor of eBook "Stop Foreclosure Fast: Solutions to Save your House" Text copyright © 2009 R.P. Brown, All Rights Reserved
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By Regina P. Brown, M.B.A., Broker, Instructor
(MBA Broker Consultants)
And we can learn from our great-grandparents, too, for that matter.  How many of them had a credit card?  None.  Did they buy something they couldn't afford?  Nope.  Did they buy a house and own it (without a mortgage)?  Probably, most did.  Did they put aside a little bit every month, just in case there was a rainy day?  Oh, so that is what's in all those cans buried in the back yard!  Did they do business with other local businesses, who supported them?  Well, yes, they maybe were even skeptical of big businesses and giant corporations.  And who taught you conservative principles, like "Waste not, want not"; "Use what you have"; and "A lender not a borrower be"?  Wasn't that dear old Granny?  And we know that Grandpa doesn't "give" an allowance; you have to work to earn it from him! F...
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By Regina P. Brown, M.B.A., Broker, Instructor
(MBA Broker Consultants)
This post does not need a lot of words.  But I think I read somewhere that it must be at least 50 words to get points for it.  So I'll throw in a couple of self-explanatory explanations along the way. In this case, the water heater was adjacent to the guest bedroom.  The photo above is the guest closet, with the carpet & padding pulled up to expose the water damage to the wood flooring (this house is on a raised foundation, not a concrete pad).  You can also see where the old vinyl was cut out when the new carpeting was installed, leaving a strip of vinyl along the edge of the closet. The corner of the bedroom, next to the water heater, was also damaged.  The carpet in the corner was pulled up to help dry the wet padding and floor. In this house, the entire house was remodeled (cosmetic...
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By Marsha Willingham, Selling San Luis Obispo Country Club Estates
(Central Coast Realty Group)
Marsha Willingham | Patterson Realty | marsha@exclusivelysanluis.com | 805-748-1480 6375 Mira Cielo, San Luis Obispo, CA New 2008 Home in Edna Valley's Stone Creek. 4BR/5BA Single Family House offered at $2,225,000 Year Built 2008 Sq Footage 5,000 Bedrooms 4 Bathrooms 5 full, 0 partial Floors Unspecified Parking Unspecified Lot Size 3.310 acres HOA/Maint $0 per month DESCRIPTION Welcome to Stone Creek. An exclusive/secluded/gated community in the gorgeous Edna Valley - home to world class vineyards and wineries. You will enjoy breathtaking views of the Edna Valley countryside. A beautiful serene setting yet only minutes from all the necessities! Home is approx. 3 months away from completion. Single level. Solid wood cabinets, granite counters, solid panel doors, Viking/Sub-zero applian...
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By Regina P. Brown, M.B.A., Broker, Instructor
(MBA Broker Consultants)
With the current buyer's market, home values are now more affordable than ever.  You've been thinking about finally moving out of that apartment and buying your very first home.  Every time you drive by the house on the corner, you get excited thinking that JUST MAYBE it's the house for you.  You can see yourself driving into the garage... unloading your groceries in that nice big kitchen... grilling on your new BBQ in the back yard.  You pick up your phone and call the real estate agent whose smiling photo is on the sign in the yard.  You tell her you'd like to see the inside of the house -- and instead, she asks you if you're pre-qualified!  Okay, so now you learned that there's a process for buying a house.  It's not as simple as just viewing a home and then buying it and moving it. ...
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By Regina P. Brown, M.B.A., Broker, Instructor
(MBA Broker Consultants)
SELLERS:  Want escrow to close without any holdups?  Want a cleaner home inspection report so the Buyer can't haggle your price down?  Make your easier by following these simple home inspection tips. LIGHT BULBS •  Replace burned-out light bulbs.  Otherwise, the inspector may note that the light is not operable and it raise questions about an electrical problem. BATTERIES •  Test smoke detectors and carbon monoxide detectors to ensure they work.  Replace any dead batteries. UTILITIES •  Confirm that water, electric, and gas services are on.  Verify that gas pilot lights are burning (stove, water heater, furnace). AIR FILTERS •  Replace dirty HVAC air filters, or clean.  Make sure they fit securely. LOCKED AREAS •  Make sure all access areas are unlocked: gates, fences, attic doors / hat...
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By Regina P. Brown, M.B.A., Broker, Instructor
(MBA Broker Consultants)
Where do you even start?  You've spent years decorating the house, filling it with "stuff", making it into a family home... and now you've got to get it all packed up and out in only a few days. Besides the emotional aspect, it's easy to get overwhelmed with the enormous task at hand.  Moving a family's home can be very stressful for everyone!  Here's some tips to help make it a little easier. Before beginning your move, print out this handy moving checklist, compliments of student-athletes "Meathead Movers" from San Luis Obispo:  www.MeatheadMovers.com/MovingTips/MovingChecklist.aspx.   Most damage that occurs when moving is due to improperly packed boxes.  Here are some packing tips: TO BEGIN: · Lighten your load!  Hold a garage sale or donate items to your favorite charity.  Moving i...
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By Regina P. Brown, M.B.A., Broker, Instructor
(MBA Broker Consultants)
San Luis Obispo Association of REALTORS®       Quick Facts     Single Family, Condos, PUD's        Last Year for the period of  12/1/07 - 12/31/07 This Year for the week of 12/1/08 - 12/31/08  Homes Sold     21 26 Averate Sold Price   $571,543 $702,,804 Average Days on Market 90 101 Homes Sold  Year to Date/ Avg. sold price/Days on Market      440 $645,029 82 312 $620,371 86 This chart is from the San Luis Obispo Association of Realtors web site on 18 Jan 2009.  SUMMARY:  2008 WAS BETTER THAN 2007!  Join my NEW group for professionals who work from their home office at http://activerain.com/groups/virtualoffice Regina P. BrownBroker, Realtor®, e-ProAuthor of eBook "Stop Foreclosure Fast: Solutions to Save your House" Text copyright © 2009 R.P. Brown, All Rights Reserved 
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By Regina P. Brown, M.B.A., Broker, Instructor
(MBA Broker Consultants)
You signed the loan docs.  TONS of papers.  So many that your signature now looks like just a scribble.  But when you got to the "Truth in Lending" page, you GASPED!  With a $300,000 mortgage, even at today's rate, the interest amortized over the length of the 30-year loan may be $330,000 or more!  So you are paying back twice as much money as you borrowed, once you calculated in the cost of interest.  You wonder if you'll ever be able to own your house free and clear?  You may be thinking, "Am I stuck with my mortgage for another 30 years?" You may want to retire before then and don't want the burden of a mortgage payment. The good news is that you can set up a mortgage payoff acceleration program, no matter what type of loan you have. Here's how it works: You make a half-payment every...
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By Regina P. Brown, M.B.A., Broker, Instructor
(MBA Broker Consultants)
Nothing builds success faster than success.  But how do you get success if you don't already have it?  It seems like a catch-22.  Sometimes you have to "get the ball rolling" by creating your own success! Each successful step propels you to more success... I'll show you HOW at the end of this series. On this morning's bicycle ride, God revealed to me how a bike ride is like success in business and career life.  Here's tip #1 of 5: 1. Pedal smarter not harder.  I learned a trick to create leverage:  instead of pedaling each foot ½ around, push harder and pedal around ¾ of the way with each foot.  With each side giving 75% of the total effort, that combines to a total of 150% effort, which magnifies the effort of each push.  First right foot, then left foot, right foot, left foot, right, ...
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