Wednesday, February 24, 2021 / by Traci Pimentel
Market Update
Weekly San Luis Obispo County Numbers are in, as well as the California Association of Realtors January 2021 Report and First American Title Company's Central Coast January 2021 Recap.
Tight inventory is making 2021 a great year to list a home! It's important to remember that the housing market today is not the same as the housing market during the 'Bubble Years'. Lower mortgage rates and rising incomes correspond with higher house prices, strong demand and low inventory.
Winter months tend to show slowing in the Real Estate industry year over year. Mortgage rates are beginning to inch up, however the FEDs have indicated they don't intend to raise the National rate anytime soon. For buyers, NOW is the time to take advantage of these historical low rates while they last!
Despite possible improvement on the supply side of the market as we approach the Spring Selling Season, upward pressure on prices are continuing to build up. With current inve ...
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Wednesday, January 27, 2021 / by Traci Pimentel
Market Update
San Luis Obispo County hasn't seen much change with New Listings hitting the market in comparison to the previous couple weeks. We did see a nearly 13% increase in properties going Pending. With more than 15% less properties sold this past week, the uptick of escrows opened, and no influx of inventory hitting the market, we're still very much in a Seller's Market.
A swell of buyers are looking to enter the market, keeping demand firm amidst the continued historically low interest rates. By the 4th quarter this year, experts are forecasting that refinance volume will decrease, largely because many will have already refinanced due to these low rates.
In 2020, median listing prices grew 13.3%, according to Realtor.com. Experts forecast prices will stay on this upward track.
Even if home prices rise as forecasted, that w ...
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Thursday, December 3, 2020 / by Traci Pimentel
Market Update
We've seen greater than a 50% drop in inventory since mid-October.
With so few homes on the market, buyers have been grasping at straws.
Interest rates are still hovering at an all time low. With an upcoming shift in Presidency and so much uncertainty with Covid-19 cases surging, home buyers want to take advantage of the low rates while they last.
REAL TIME MARKET NUMBERS
PISMO BEACH STATS
ARROYO GRANDE STATS
GROVER BEACH STATS
OCEANO STATS
AVILA BEACH STATS
SAN LUIS OBISPO STATS
NIPOMO STATS
ATASCADERO STATS
TEMPLETON STATS
PASO ROBLES STATS
MORRO BAY STATS
CAMBRIA STATS
CAYUCOS STATS
LOS OSOS STATS
Fewer new sellers coming to the market while a greater than usual number of buyers continue to search for a home causes inventory to continue to evaporate. Historically, six m ...
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Tuesday, December 1, 2020 / by Traci Pimentel
Around this time each year, many homeowners decide to wait until after the holidays to sell their houses. Similarly, others who already have their homes on the market remove their listings until the spring. Let’s unpack the top reasons why selling your house now, or keeping it on the market this season, is the best choice you can make. This year, buyers want to purchase homes for the holidays, and your house might be the perfect match.
Here are seven great reasons not to wait to sell your house this holiday season:
1. Buyers are active now. Mortgage rates are historically low, providing motivation for those who are ready to get more for their money over the life of their home loan.
2. Purchasers who look for homes during the holidays are serious ones, and they’re ready to buy.
3. You can restrict the showings in your house to days and times that are most convenient for you, or even select virtual options. You’ll remai ...
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Monday, November 30, 2020 / by Traci Pimentel
Today’s real estate market has high buyer interest and low housing inventory. With so many buyers competing for a limited number of homes, it’s more important than ever to know the ins and outs of making a confident and competitive offer. Here are five keys to success for this important stage in the homebuying process.
1. Listen to Your Real Estate Agent
A recent article from Freddie Mac offers guidance on making an offer on a home in today’s market. Right off the bat, it points out how emotional this can be for buyers and why trusted professionals can help you stay focused on the most important things:
“Remember to let your homebuying team guide you on your journey, not your emotions. Their support and expertise will keep you from compromising on your must-haves and future financial stability.”
Your real estate professional should be your primary source for answers to the questions you have when you’re ready . ...
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