Archive for March, 2009

SHHH, Don’t Tell Anyone About the ‘Pond’!

Monday, March 23rd, 2009

I’m going to let you in on a little secret about a hidden pond but first you have to promise not to tell anyone.  Ok, do you promise?  Good!  Now, I’m going to hold you to it because if you tell, then everyone will start coming and it will totally ruin the whole ambiance of the place.

In Paso Robles there is a place that only locals and only a few of the locals know about and go to.  The place is called Franklin Hotspings. 

The Pond

The Pond

It is kinda hidden out on the back roads.  There is a sign but it is pretty old and not all that easy to read, especially at night.  Franklin Hotsprings is a large (swimming pool sized) natural hot sulphur spring pool or pond.    So yeah, it does have that whole sulpher smell going on.  But let me tell you when your body is aching, the smell is worth a little annoying stinkiness. 

To get there, take Niblick Road in Paso Robles east to Creston Road.  Take a right on Creston Road and follow it out until you see the sign on the right hand side of the road and turn rimapght…  Now if those directions are not some small town type of directions, I don’t know what is.  BUT finding the ponds is half the fun of the whole thing (I can’t make it too easy on you just in case you decide to tell someone the secret)… 

There is a $7 fee for adults and $5 fee for children to get in.  There is more to do than soak if you so choose, you can boat, fish, play paintball, bar-b-que.  The fee allows you stay as long as you want to and includes boating, fishing, and enjoying the mineral hot spring. It does not include Paintball activitites.  Being a small town, there are times when you show up and no one emerges to take your money.  It works on the honor system - just leave your money in the can.

I just go to soak and relax.  There are about 8 pipes hooked up overhead that blast the hot water down onto your back, giving you a hot water, pounding massage. 

Pounding water pipes

Pounding water pipes

Usually there are water weinies available to float on (or you can bring your own).  There is even a hot tub off to the side for those that want a little more privacy.  There is a steam room that sometimes works and sometimes doesn’t.  Bathrooms and changing rooms are being built.  The owners are working on slowing fixing it up but expect it to be rustic and come prepared - that way you won’t be disappointed.

Some people claim the beauty benefits of the mud at the bottom of the pool.   They dive down and bring up this slimey, gooey mud and put it on their face.  I have to admit I have tried it and it feels really good.  However, once I saw it in the daylight, I just couldn’t bring myself to do it again.  But if you are adventursome or just don’t care - try it.

The best time to head out there is after dark.  Gazing at the millions of stars in the sky while floating around in warm water in the quiet of the evening, just doesn’t get any better! 

Remember, you promised not to tell!!  Let me know when you are headed out there and I may just drive up from Atascadero to join you!!

Staging in a Buyer’s Market

Monday, March 23rd, 2009

living-roomIf you have been an investor for any length of time at all, you will have learned, somewhere along the line, not to show your houses to potential buyers until the all repairs have been completed and the project is finished.   Most buyers have little or no vision. All they can see is the work you are doing and the things that still need to be done, not what it is going to look like when you are finished.  Only about 10% of homebuyers can actually visualize the potential of a vacant home; that means that you are losing 90% of the people that look at your home if you don’t have it staged. 

 

According to California Association of Realtors (CAR), the average home buyer spends less than 15 minutes walking through each home and they don’t start ‘putting’ or ‘seeing’ their furniture and other items in the house until about the 3rd time they go through.  In addition, most homebuyers instantaneously make the decision to buy based on their immediate first impression.  In a slow or buyers real estate market, you have to capture their attention and do it quickly.  Otherwise, your house may never get another chance – the buyer may never come back to see your house.  This is where staging comes in. 

 

Staging is the art of turning a house into a home.  Staging, done correctly, creates or enhances a Strategic Selling Point (something memorable about your house that stands out and inspires buyers to purchase your house over and above all the others on the market).  Staging helps the buyers ’see’ their furniture and items in the house.  It creates individual focal points/rooms that fell comfortable to the buyer.   Staging should create a positive emotional response, a sense of lifestyle and increases the buyer’s desire to live in your house.  Buyers see themselves relaxing, raising a family or entertaining friends in your house.bedroom-1

 

Statistics provided by US Housing and Urban Development show that staging a home, even in a slow or down market, commands an average of:

 

·         17% higher price and

·         Sells 7.4% faster than a non-staged home. 

 

During the housing boom in 2004 – 2006, a staged home not only sold faster for more money but most of them sold over listing price by 6.32%.  In a down market, you may not see a staged house going for more than listing price but you will almost definitely see it staying on the market for fewer days which can mean additional money in your  pocket.

dining-roomRemember, purchasing a home is an emotional decision, not a logical thought process. 

For minimal cost, I will gladly help you ’stage’ your home for the most appeal.  If you live in San Luis Obispo county, give me a call, otherwise contact me via email.   

Photography by Ashala of Cayucos, CA. 

How are Your Property Taxes?

Saturday, March 14th, 2009
 Did you know that the National Taxpayers Union (whoever that is) estimates that as many as 60% of homes pay too much in property tax because they are over assessed?

With the drop in property values over the last couple of years, chances are pretty good that you might be able to save money on your Central Coast property tax bill.  So what can you do about it?

The San Luis Obispo County Tax Assessor’s Office is currently doing a review of properties under 10 acres puchased after January 1, 2003 so if you fall into that category, you don’t need to do anything right now.  However, if you do not fit into category, here is what you need to do to get your property reassessed.

First, get a copy of your property card from the SLO County Assessors Office.  Review the card to make sure the current information is correct for the size of your home, number of rooms, etc.  If this information is incorrect, contact the office.   Sometimes they will change it without a formal appeal. 

Second, if the value seems high, you will need to file a formal appeal whcih can be found at http://www.slocounty.ca.gov/AssetFactory.aspx?did=13066.  You will  need documentation to support your appeal such as a formal appraisal or comps (comparisons) of similar properties that have recently sold, etc.   I can help you with this part if your property is in Morro Bay, Cayucos, Los Osos, Atascadero, or any of the other San Luis Obispo County towns.   You can also look through the public records for other home that have similar features to yours but have lower assessments. 

This may save you thousands of dollars every year.  And the good news is that more than 33% of the property tax appeals succeed!  Make sure to do your due diligence to justify your request before you send your form in.  The more upfront work you do, the better it is for you in the long run.  I can also help you with finding an appraiser should you decide to go that way.

Buy of the Week - Cayucos Home

Friday, March 13th, 2009

Buy of the Week is a property that offers a great value for the potential buyer either based on price, location, amenities, financing or sometimes all of these.

640 Park Ave,  Cayucos

Pano148997_09ramic Ocean Views for $775,000!!!    In town location, three bedroom and two baths (2 up and 1 down) all within walking distance of the quaint Cayucos restaurants, beaches, and shopping.  This Cayucos Home for sale even boasts fruit trees.  Bright and airy - great views.  Most furnishings are included so you can move right in or use it as a the perfect beach get away. 2 Car garage to put all your beach toys along with your cars.

The lot next door is also for sale in case you want to expand.

148997  

 

  

148997_011CHECK OUT THE OCEAN VIEW FROM THE LIVING ROOM….

Refinance Relief for More Borrowers - Freddie Mac

Monday, March 9th, 2009

This is the Freddie Mac version of the Fannie Mae “Making Homes Affordable” (see my previous blog) federal plan…  That may be confusing to a lot of you, please don’t ask me to explain because I’m not sure I can.  Just know this, both Freddie and Fannie have something to do with home mortgages…  If you want more concrete details it is probably best to google it online.

Ok, back to what I was originally talking about - the new Freddie Mac Relief Refinance Mortgage .  This is a plan to help homeowners who are current on their mortgage payments but may need to refinance to be in a better position to keep their homes long-term.  As with the Fannie Mae plan, borrowers must have mortgages that are owned or guaranteed by Freddie Mac.  These Relief Refi loans can:

  • Reduce your current mortgage interest rate
  • Shorten the term of your loan
  • Replace your adjustable rate mortgage or balloon payment
  • Reset your 15, 20 or 30 fixed-rate mortgage.
  • Loan-to-value ratio can be as high as 105%.
  • Your existing liens must continue to be subordinate to the first lien.

In it’s commitment to the Administration’s new initiative, Freddie Mac has directed its servicers to ensure that every possible avenue is uncovered before initiating a foreclosure on a delinquent buyer.   There are other terms and conditions that apply so check with a lender to make sure you get the right info.    If you need some recommendations that support San Luis Obispo County, let me know!

Sooooo…. If you are behind or if you think you may fall behind on your mortgage payments and you want to stay in your home, find out if your loan is serviced by Fannie Mae or Freddie Mac (you can call your current lender -  they should know that answer).   If the answer is yes, then tell them your story and see what they can do to assist you.  If you truly want to sell, call me or your agent and let’s talk about your options.

“Making Homes Affordable” ???

Monday, March 9th, 2009

Well, it appears that the Federal Government is once again trying to fix the housing market by giving lenders the options of offering new flexibilities on loan refinance and modification.   Since I am a real estate agent/investor and not a mortgage broker, I know just enough to be dangerous so I strongly recommend that you talk directly to your lender or get more information at one of the websites (here is the HUD site  http://www.financialstability.gov/makinghomeaffordable/).  

This is part of President Obama’s plan to help the troubled homeowners.  While this plan may help a few people stay in their homes, it doesn’t address the drop in home values or the loss of employe which in my mind are even bigger issues.  Until these issues can be addressed, my honest opinion is that the shortsales and foreclosure will continue.     But with that said, loan refinance or modification are definitely worth checking out EVEN IF you have not missed any payments.

Please note, that there are two separate components - refinance or modification.   The following are the key features:

Refinance Option:

  • To qualify, your mortgage loan must be owned by Fannie Mae.
  • You can finance up to 105% of the value of the home.
  • You are not required to buy new or additional mortgage insurance if the loan at the time of the refinance is more than 80 percent of your home’s value.
  • You must have a solid payment history on your existing mortgage.
  • The expanded refinance flexibility ends in June 2010.

 

Loan Modification Program:

  • The home must be your primary residence.
  • You do not need to be behind with your payments.
  • You must owe less than or equal to $729,750.
  • You had to have gotten your loan before January 1, 2009.
  • You may need to explain a financial hardship in some cases.
  • The program may reduce interest rates or lengthen the payment time frame or other steps.
  • As I said before, I only know enough to be dangerous but if you think this might help you save your home, please check it out.   Go to the website above and click on the ‘Find out if you are eligible’ to determine how the new programs may or may not apply for you.  As always, I am more than happy to work with you as well in finding a good solution or helping you find a lender in the Morro Bay, Cayucos, or San Luis Obispo County.

     

    Buy of the Week - Morro Bay

    Friday, March 6th, 2009

    Buy of the Week is a property that offers a great value for the potential buyer either based on price, location, amenities, financing or sometimes all of these.

    2221 CORAL AVE 

    Coral Exterior

    Beautiful custom built single level home in the prestigious Cloisters area of Morro Bay.  Fireplace, laminate wood ranch plank floors, wood shutters, fireplace.  The kitchen with an island sink is the perfect place to create those masterpiece meals for friends and family.  coral-kitchenThis home also features 1675 square feet, 3 bedroom, 2 baths.  Oh, and did I mention the price…. $890,000 in an area where homes are selling in the $1 Million range…  Close to the ocean, beach, Cloisters park and walking trails all in the neighborhood.

    I think that this is such an amazing deal that I am going to host an open house there this Sunday from 1 - 3.  Come buy…  :)  

     

     

    Twittering

    Tuesday, March 3rd, 2009
    Twitter Logo

    Twitter Logo

    It’s official - You can now follow my real estate updates, tips, and Morro Bay Homes, Cayucos homes or Los Osos homes for sale and Central Coast best buys 24 hours a day, 7 days a week on twitter - www.twitter.com/andeeallen

    If you have your own twitter, tweet me up so I can follow what you are doing too!!

    The world has been taken over by the twitter bug……

    Get Off the Fence!! Get in the Game!

    Tuesday, March 3rd, 2009

    More people can afford to buy a home today than at any time for the past 20 some odd years.  HOLY MOLY!  Not only are home prices down but interest rates are still at all time lows which means that the monthly mortgage payment could be less than existing rents.

    In California (typically one of the least affordable states) the percentage of households that could afford to buy an entry-level home rose to 59 percent in the fourth quarter of 2008, compared with 33 percent for the same period a year ago. 

    The minimum household income needed to purchase an entry-level home in California in the fourth quarter of 2008 was only $48,900, based on an interest rate of 6.02 percent and assuming a 10 percent down payment.  Considering that the median price is $248,000 - that is AMAZING.  Over half the population that lives here can now afford to buy.

    If you are an investor, many of these properties will now show a positive cash flow - that is something we haven’t seen in a VERY, VERY long time.  If you are a first time home buyer, you can get security and tax breaks of owning your own home.

    My advise:

    GET OFF THE FENCE and GET IN THE GAME NOW

    Quit trying to time the market (that’s almost completely impossible because the only way you will know you are buying at the bottom is when house prices start going back up and by then it is too late!)  Go find a property or properties that you like and start making offers.

     

    If you need help finding a realtor in your area, call me - I’ll find you one!

    If you want to live in Morro Bay, Cayucos, or even Atascadero, call me - I’ll find you a home!

    If you want to start investing, call me and I’ll mentor you!

    Whatever you do, pick up the phone and just CALL!! (emails work too).

    If you wait too long, you will be kicking yourself saying - “I shoulda bought”.  That’s probably exatly what you did a couple of years ago isn’t it?  Let’s make 2009 the start of your real estate prosperity!!!  LIVE THE DREAM!


    Avoiding Foreclosure Lesson

    Sunday, March 1st, 2009

    In studying to become a Loss Mitigation Expert so I can  help people avoid foreclosure,  I ran across some startling information -  50% of the homeowners who are behind on their house payments have no contact with their lenders.  Wow,  that is scary!  90% want to stay in their homes and save them from foreclosure however more than half of these people do not even call the bank.    If that doesn’t tell you that there is a real need for people to help these home owners, nothing does. 

    If you are in foreclosure or about to go into foreclosure,  please, please, please give me a call or email me as soon as possible.  If I can’t help you, I promise to find someone that can.   If you live in any of the communities on the Central Coast - Morro Bay, San Luis Obispo, Cayucos, Los Osos, Atascadero, Templeton, etc, I will give you the straight scoop and do everything I can to help you!