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Posts Tagged ‘Morro Bay’

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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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Santa Barbara Fires

Sunday, May 10th, 2009

My thoughts and prayers go out to everyone in Santa Barbara impacted by this latest wildfire.   The devastation is impossible to even imagine especially for us not living with it each day.   Santa Barbara has sure had more than its share of wildfires lately.  I hope this one will be the end of it for years to come!

For those who have been concerned and calling, San Luis Obispo County has not been impacted.  The fire has not come as far north as Morro Bay.  You can see smoke in the air in Santa Maria area but not much north of there.  

For those who live in San Luis Obispo County, please make sure to protect your homes by trimming the native brush, grasses, etc that grow close to your homes.  Our area is dry and we have been very fortunate that we have not had any major forest fires for quite a number of years.  Let’s do our part to do what we can to prevent them! 

Which means - I need to go weed whack my hill…..   Off I go!  Practicing what I’m preaching!

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Posted in Central Coast Communities | 1 Comment »

Central Coast Mother’s Day

Sunday, May 10th, 2009

Happy Mother’s Day to all you wonderful mothers! 

If you are looking for something fun and a little different to do - Morro Bay is hosting it’s Best of the Bay Dog Show from 3 - 5 pm.  It’s beautiful, warm, and sunny so take the family, pack a picnic and go enjoy the dog show, the Embaradaro and the beach with the majestic rock.  Perfect day for kayaking or sailing.

ENJOY!!

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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 »

Fish Tacos at Morro Bay’s Dockside Restaurant

Thursday, April 2nd, 2009

“Sitting on the Dock of Bay - Wasting time..”

One of the classic old time hits I think must have been written while eating at the Dockside Restaurant in Morro Bay…. It is the perfect way to spend a lazy, sunny afternoon along the water.

I had the good fortune (and I mean really good fortune cuz she paid, drove and everything) to have a friend take me there for lunch the other day. I had heard about the Dockside but had never been there mostly because it is so hard to find (well it was for me anyway).

So we sneak out of work and drive down to the Embarcadero, go north up the road, drive through a parking lot and back behind a couple of other restaurants and there it was - Tognazzini’s Dockside Restaurant. A little dumpy looking place with a HUGE patio right on the water, a couple of tables inside, and a counter where you can order your food or get fresh fish to take home.

Now let me tell you, the fish tacos are $2.50 each - yes, you got that right - $2.50 - I didn’t even know prices like that still existed. And that wasn’t even the best part. Nope, the BEST part was how amazingly good, fresh and tasty they were! Then picture this - a local musician playing old time tunes on the patio, a large, fat sea lion lazily swiming back and forth, seagulls stopping by to check what we were having, an otter opening a clam shell on its tummy, beautiful bay views, sounds of the tide gently lapping against the posts. The sun was shining! What more can you ask for than good food, great company, nice music, a cool ocean breeze on a warm day. We were having so much fun that we almost played hooky from work for the rest of the afternoon.

Tognazzini’s Dockside Restaurant is a MUST stop at least once. And I’m going to bet that once you do stop there, it will become a regular spot for you. Better yet, call me and I’ll meet or take you there - I’ll even buy your first taco….

Now don’t think this is a fancy or nice restaurant in anyway, because it isn’t. BUT you can’t beat the friendly service, great atmosphere and delicious food!

1245 Embarcadero
Morro Bay, CA 93442

(805) 772-8100‎

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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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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.

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Posted in Financing | 3 Comments »

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