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Posts Tagged ‘Cayucos’

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4th of July - Cayucos Style

Saturday, July 11th, 2009

coldwell-officeCayucos has the absolute best 4th of July celebration!!  It is one of the last small town celebrations

where everyone gets in on the action. 

tipperupperThe small town parade starts at 10 and hosts usually around 65 entries - everything from ‘true’ small town floats to families riding bikes to people walking.  This is such a popular event that people start setting their chairs up on the main drag the Tuesday before the 4th to make sure they get the ‘ideal’ spot. 

The fireworks are shot from the pier and are amazing considering that Cayucos only has about 3,500 full time residents.  You can watch from one of the boats from Morro Bay that anchor on the water just down from the Cayucos peir.    The beach is always a favorite spot for family and friends to gather to dig bon fire pits and wait for the firework.fire-pit

Then if you are really lucky, you know someone who owns one of the beach houses where you can sit on the deck, BBQ, watch people, watch the ocean and then view the fireworks up close and personal.  firepit-2

 

Seriously, next year you need to come!!  But make your hotel reservations early cuz Cayucos does fill up quickly!flags

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Posted in Central Coast Communities | No Comments »

Coldwell Banker - SO WHAT?

Monday, May 25th, 2009

When I first got my California Real Estate License, I interviewed a bunch of different companies in an attempt to decide where I wanted to hang my hat.  My criteria was pretty simple.  I wanted a company/office that:

  1. Had a strong brand name
  2. Offered lots of education opportunities
  3. Had full-time versus part-time agents
  4. Had a brick and mortar office
  5. Had a well known, seasoned Broker
  6. Was customer focused.

Now let me tell you, there are some great independent and franchise companies in this area.  It was not necessarily and easy choice but the one that met ALL of my above criteria was Coldwell Banker Liberty Realty in Morro Bay and  I couldn’t be happier with my choice! 

We have two office (I work out of both of them), one in Morro Bay and one in Cayucos.  Our Broker, Shirley Lyon, has been in Real Estate for ever and is still practicing.  In addition, she is extremely involved in the local Assocation and the local communites.  Shirley has seen just about everything in her many years of practicing and is always willing to help her agents.

The office is awesome too.  For a group of people that are actually competitors, this office is amazing.  Everyone is very supportive, offering to go above and beyond in everything from floor time, to helping each other when someone is sick, to referring leads to the appropriate agents.  It’s a unique situation and office and I’m proud to be a part of it.

The Coldwell Banker name brand has been around for 102 years - WOW!  In addition, Coldwell Banker:

  • Has offices in 47 countries on 6 continents.
  • Is rated #1 by consumers in terms of a company you can trust and depend on.
  • Among the top 760 firms in the nation.
  • The most innovative real estate firm.
  • Has the broadest spending in the industry.

Amoung other many numerous items, all of these combine to make a company that is forward looking and dedicated to customers - both buyers and sellers - with honest, integrity, and committment.  It is a place that I am proud to call home!

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Buy of the Week - Cayucos

Friday, May 15th, 2009

I haven’t done one of these in quite a while - not because there haven’t been any deals but mostly because I have been swamped with other things.  It’s no excuse but it is the truth…. Sooo moving forward, here is what I consider the deal of the week in SLO County:

What’s better than being right on the beach?  sb-view2

sb-viewHow about 180 degree ocean views.  And what if you could get those 180 degree ocean view for around $525,000?  

And what if for that price you also got 3 bedroom, 3 bathrooms,sb-bedroom1 and over 1800 square feet living space? 

AND what if all of that was located in Cayucos? Oh yeah, it also has a fire place for those chilly Pacific evenings… sb-fireWould you still be interested?   YES!  Then you better pick up the phone and call me now before this one is gone!

sb-outside2767 Santa Barbara

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Posted in Buy of the Week | No Comments »

Vacation Rentals as a Real Estate Investment

Saturday, April 18th, 2009

Before I even say anything here - let me make one thing perfectly clear - I LOVE VACATION RENTALS.  Ok, now that I got that off my chest, let’s talk about vacation rentals as Real Estate Investment in a non-emotional, logical manner. 

For those of you that are uncertain, a vacation rental is a home that is rented on a per night, week or monthly basis but only for the short term.  The rates charged for vacation rentals are usually double or more what you could get for a long term rental but are typically less expensive than staying in a hotel with all the amenities of a vacation rental.  There is no daily maid service like in a hotel/motel.  Some come fully stocked and furnished (you only need to bring your clothes, your family and your food) and some you have to bring linens, towels, pots & pans, etc. 

The beauty of vacation rentals is that you don’t have to deal with long term tenants.  With a vacation rental, the people that rent your home are usually happy because they are going on vacation and are usually happy when they leave because they were just on vacation.  So you very seldom deal with unhappy tenants.  Plus, because of the short term stay, they pay you a premium for the use.   Plus there is usually some down time (off season time) which allows you to use the property if you so desire.  Usually once the property is established, if it is in a great location, you will have repeat customers and less down time.

The biggest problems with vacation rentals as a real estate investment is it is very difficult to make them positive cash flow and the wear and tear.  The best vacation rentals are of course located in vacation destination spots - beaches, ski resorts, gold destinations, etc.  Properties in these areas because of high demand typically have properties that are offered at a premium.  Because your competition is the local hotels, there is a limit to the amount you can charge.  But the number one problem that I have consistently run into is the local government.

For some strange reason (or at least one I haven’t figured out), local city governments do not like vacation rentals.  Considering that vacation rental owners pay property taxes plus use or room taxes and attract visitors who spend money and bring in additional city revenue, I have never been able to understand why more citites don’t incourage vacation rentals.  Oh and not to mention the salaries or money we pay to contractors, businesses, etc to keep our vacation rentals updated.  I do understand the quality of life issue in some neighborhoods but that should be relatively easy to address or at least one would think…beach

My latest foray has been with the Lincoln City, OR.  I own a cute little 3 bedroom, 2 bath vacation rental that is a couple of blocks from the beach.  It is not full but does have a steady stream of people in and out of it.  For the past five years, I have used one of the local property management companies and everything has been great.  Then this year, I sent in my $105 Vacation Rental Fee expecting to receive my Vacation Rental Permit (as I have for the past 5 years) and knowing that if there were any issues or an inspection that the property management company would handle it (just as they have for the past 5 years).  So bascially, I didn’t worry about it.  

That was a mistake.  Lincoln City recently hired or promoted a new person to handle the vacation rental permit process.  Apparently he Timothy Novak does not really like vacation rentals or doesn’t see the value of them.  I can’t tell you how many people I talked to that said that Timothy had canceled their permit this year.   Talking or arguing with him was a total a waste of time.  A man with power, he says no and that’s what you get - nothing.  Thanks for paying the $105, I don’t care if you have had a permit for 5 years,  I don’t care if you have been paying property taxes and room taxes and other fees, I don’t care if you have been helping support our tourists, I don’t care.

Then out of the blue a Vacation Rental permit shows up.  Issued from Timothy’s office!  YAHOO!  I call All Season Vacation Rentals - all excited.  AND then another letter - OOPS, we made a mistake.  Well, it atually said “Due to a clerical error” - you do not really have a permit and IF you try to rent it, you will be in violation of blah, blah, blah with a daily fine of $1,000 plus a 10% enforecment fee.  THEN I get another letter saying for additional fees, I can apply for a long term rental permit.  What??? 

Ok, so now I am selling my vacation rental home in Lincoln City, OR.   I guess the city just can’t handle the additional revenue that it brings in.  They seem to be only interested in the fees that I pay hense the additional fees and no refunds ever.   I know I can’t handle dealing every year with a city that sees no value to what I bring to the table.  BUT, if you want a darling home in Lincoln City, call me!!front-view  living-room

I have owned three vacation rentals over the course of my real estate investing career - one in Lincoln City, Oregon; Scottsdale, AZ; and one in Cayucos, CA.    I think I will get out of the vacation rental business….  DANG  - I LOVE VACATION RENTALS.  But like the terminator said - “I’ll be back”….

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Posted in Investors | 15 Comments »

Fish Tacos - Cayucos Ruddell’s Smokehouse

Saturday, April 18th, 2009

Ok, while I’m on the subject of fish tacos…  Another amazing place to try out the delectible Central Coast tacos is in Cayucos, at Rudell’s Smokehouse.   I’m going to bet that you have NEVER had fish tacos like Jim makes.

Jim Ruddell buys most of his fish locally and personally smokes it all himself.  His smoked fish is the BEST.  If you don’t believe me stop in and buy/try some.   I’m not exactly sure what he uses but it is delicious and fresh and healthy (well, I think smoked fish is healthy - all the fish oils and stuff - sounds healthy to me).  So anyway, Jim buys this fish and smokes it.  On any given day, you never know what type of fish he may have but you do know he will have fish (he also has chicken and pork or some other kind of meat - I’ve only ever eaten the fish, guess I really should try some of his other stuff too - I just know that my son (he’s 13) doesn’t like fish but he loves Jim’s other tacos….  Ruddell’s usually has Salmon, Yellowtail (my favorite), Albacore, sometimes smoked oysters and whatever else he can buy. 

Back to the smoked fish taco…   The tacos are made with a grilled flour tortilla.  I think that when Rudell’s grill the tortilla, they put a little cumin on it (I’ve tried it at home but it is not the same).  Then they have a special mayo sause they use (not much, just a little coating), then whatever smoked fish you ordered, then tomatoes, then lettuce with bits of apple and celery.   The apple is always a pleasant surprise as it adds just a light sweet crunchy taste to the smoked fish. 

The smoked fish tacos are around $5 or $6 each but are huge and one is plenty for a meal.  I usually buy two and take one home with me for dinner.  Rudell’s also offers great smoked fish salads and sandwiches and chips.  You can also just buy packages of the smoked fish to take home and eat on crackers, make your own fish tacos, or sandwich.

Rudell’s Smokehouse is a tiny little ’shop’ that sits at the end of businesses farthest from the Cayucos pier.  There are 3 or 4 tables outside but no inside seating.  Sometimes on Sunday a bunch of local muscians stop by and have a jam session.  There is always a bowl of water for any four legged friends.  Now Rudell’s may not look like much from the outside but trust me on this - you just have to try - just once!

Gosh, talking about Ruddell’s has made me hungry for a smoked fish taco…..

  Here meet JIM Ruddell.  Tell him I said hi when you get there!!

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Posted in Central Coast Communities | 5 Comments »

California Housing Market Rebound - Real or Illusion?

Monday, April 6th, 2009

Finally, some good news is coming out of the California Housing Market.  The California Association of REALTORS ® (C.A.R.) reported positive trends in single-family home sales and the ‘experts’ start screaming rebound or turn around, the worst is over!  Since I’m typically a fairly positive person and would love it if the market had actually turned, I’m trying to figure out why I’m not jumping up and down and calling all my customers to tell them the great news…

 The Reality is…

In January 2009, C.A.R reported an increase in sales of 100.8% for existing, single-family homes sales in January 2009 compared to January 2008 while the unsold inventory decreased to 6.7 months from 16.6 months a year ago.  In addition, the average days a house was on the market declined from 70.8 days to 49.9 days. This is the first time since October 2005 that the California Housing Market has seen existing home sales of over 600,000 homes and a 14% increase over the previous month.    

With the possibility of positive cash flow properties and volatile stock market, many investors are also starting to buy again in California. 

These are all good signs right?  Right!  Yes!!

Light at the End of the Tunnel or Illusion? 

While most of the indices for a turnaround seem to be trending positive, there are a few that are concernin and not being talked about.  For example, in the California Housing Market, home prices were down 40.5.  The median house price was down to $254,350 over last year and 9.5% over December’s median price of $281,180 median price.   That doesn’t bode well for the people who bought at the top of the market – even the ones that are still paying their monthly mortgage payments.   The Center for Economic and Policy Research in Washington estimated that 30% of homeowners between 45 and 54 years of age, owe more on their mortgages than their homes are currently worth.  How much longer are they going to continue to pay their mortgages when they owe way more than the home is worth? 

And what about the unemployement rate?  Last I heard, that was still going up.  What happens as more people lose their jobs?  Won’t that negatively affect the housing market?

Most analysts predict that the California Housing Market will continue to see price declines throughout 2009 and probably into 2010.  The hope is that the decline will not be as steep as it has been over the previous year and will eventually taper off, signifying an end to the price drop and the beginning of stabilization and eventually increase.  I think I agree.  Prices aren’t dropping as quickly - that is good.  They are still dropping - that is not so good (unless of course you are an investor or in the market for a new home).

The one major wildcard that deserves close scrutiny and analysis for the California Housing Market is still the homes going into foreclosure (sorry, I just had to bring that word up again).  Due to the Federal Mortgage Loan Modification Plan, many banks have been trying to work with distressed homeowners to keep them in their homes.  A lot of these properties will not qualify and will eventually end up in being foreclosed.  

Conclusion

Although not everyone agrees that the California Housing Market is rebounding, most analysts and people that watch the California Housing Market agree that the worst seems to be over.     If the banks decide to dump a huge number of deeply discounted foreclosed houses on the market all at one time, we will see much lower prices than we do now. 

I personally do not think the worst is over.  I think we have one more big wave of foreclosures that are going to hit in the next 12 to 18 months.  When that happens, get your check book out!

The Central Coast has stayed fairly strong with minimal foreclosures compared to some of the other counties in California.  Morro Bay, Cayucos, and Los Osos have held their prices remarkedly well.  Santa Maria on the other hand has had more than it’s fair share.  With that said, there are great deals in all of these communities.  What about a bay front lot for under $200,000? 

 

 

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Posted in Investors, Short Sales & Foreclosure | 2 Comments »

Mortgage Protection Plan - First Time Buyers - It’s TIME!!!

Thursday, April 2nd, 2009

I wish I was a first time home buyer!  I really do!  There are so many programs out there to help first time home buyers that are just sooooo sweet.  $8,000 for this, $10,000 for that, special low down loans…  it is just so amazing especiallyat this time when interest rates are so low and house prices are even lower.  Yeah, the economy is not so good right now but guess what?  California Association of Realtors (CAR) now has a program to help you through that!!!

California Association of Realtors (CAR) announced today (April 2, 2009) a new First-Time Home Buyer program  designed to help the ailing housing market, ease worries over the uncertain economic times, and encourage first time home buyers to purchase a home this year.   This new program- CAR Housing Affordability Fund Mortgage Protection Plan, can be used with all the other First-Time Home Buyer programs as long as ALL qualifications are met.

The CAR Mortgage Protection Program offers First-Time Home Buyers mortgage payment ‘insurance’ against the loss of a job or disability.  Under this program, a First Time Home Buyer who loses their job or becomes accidentally disabled can receive a maximum of $1,500 per month for up to six months or for a co-buyer, the maximum is $750.  The program also includes an accidental death benefit of $10,000 of which CAR Housing Affordability Fund pays the premium for the first year. The First-Time Home Buyer does not have to pay anything to take advantage of this program (now you know why I wish I was a first time home buyer huh?).

Certain criteria must be met for a person to qualify for the CAR Mortgage Protection Program.  The criteria includes: 1) a First Time Home Buyer cannot have owned a home in the last three (3) years; 2) must buy a home in California before December 31, 2009; 3) must use a California licensed REALTOR; 4) must work for someone else (be a W-2 employee); 5) can make any amount of money (no income caps); and 6) can buy any home (no price caps).    The California REALTOR® will obtain the application form from CAR Housing Affordability form.  The First-Time Home Buyer will complete it, and the REALTOR® will submit it to CAR’s Housing Affordability Fund for review.  C.A.R estimates that about 3,000 First-Time Home Buyers will be assisted with this program this year.  The program works on a first come, first served basis and includes additional requirement and restrictions.

The CAR Mortgage Protection Program is funded through C.A.R.’s Housing Affordability Fund.  The CAR Housing Affordability Fund is a non-profit 501 (C) (3) which was specifically established to provide options for First Time Home Buyers.  It is funded through donations from members, affiliates, and other institutions.  HAF is dedicating $1 million of these funds to the Mortgage Protection program this year.  With the limited resources and the high number of First-Time Home Buyers expected to take advantage of the program, it would be prudent to move quickly.  To make a tax deductible charitable donation contact the California Association of Realtors at www.car.org or call 213-739-8352.

 

 For more information on the CAR Mortgage Protection Program, the Federal or State Tax Program; contact your California REALTOR® directly.  If you are not currently working with a California REALTOR® live  or want to buy in Los Osos, Morro Bay, Cayucos, Atascadero, etc. contact me at andeen@charter.net or 1-800-694-2265 X15 and I will either find one for you in your area or help you myself.

 

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Posted in First Time Home Buyers | 1 Comment »

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. 

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Posted in Investors, Selling Homes, staging | 1 Comment »

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.

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Posted in Property Taxes | No Comments »

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….

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Posted in Buy of the Week | No Comments »

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