Wednesday, February 10, 2021 / by Traci Pimentel
Home values appreciated by about ten percent in 2020, and they’re forecast to appreciate by about five percent this year. This has some voicing concern that we may be in another housing bubble like the one we experienced a little over a decade ago. Here are three reasons why this market is totally different.
1. This time, housing supply is extremely limited
The price of any market item is determined by supply and demand. If supply is high and demand is low, prices normally decrease. If supply is low and demand is high, prices naturally increase.
In real estate, supply and demand are measured in “months’ supply of inventory,” which is based on the number of current homes for sale compared to the number of buyers in the market. The normal months’ supply of inventory for the market is about 6 months. Anything above that defines a buyers’ market, indicating prices will soften. Anything below that defines a sellers’ market in which prd ...
Monday, February 8, 2021 / by Traci Pimentel
Wednesday, January 27, 2021 / by Traci Pimentel
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 ...
Thursday, January 21, 2021 / by Traci Pimentel
201 Five Cities Drive #20, Pismo Beach
Darling home in 55+ community of Hacienda Del Pismo sits on a corner lot adjacent to the the club house, swimming pool and hot tub. Double wide modular has a covered car port that can accommodate 2 vehicles and an attached shed wired for electrical. Step up onto the covered front porch and enter the sunny living room outlined with picture windows.
Favored open-concept floorplan has high vaulted ceilings, modern fixtures and ceiling fans throughout. Enjoy a bite by the Bay Window in the sizeable kitchen, casually dine at the breakfast counter or host a meal in the open Dining Area. The kitchen features laminate wood flooring, airy skylights, granite counter tops, a double basin sink and a standing pantry.
The Master Bedroom has a walk-in closet and attached Ensuite. The Ensuite has 2 individual sinks, slide-open shower and separate tub to soak and relax in. Second bedroom has a sliding door that leads to the covered back deck bordered withd ...
Tuesday, January 19, 2021 / by Traci Pimentel
579 Victorian Court, Arroyo Grande, CA 93420
Cute as a button Cape Cod style home is picture perfect! The meticulously manicured front yard is outlined by a white picket fence and stamped concrete accents. The beautifully detailed covered front porch invites you in to an open-concept main living space floor plan. Tile flooring throughout the downstairs level makes sweeping up after a day at the beach a breeze.
Let the Central Coast sunshine in through the large plantation shutter windows and cozy by the fireplace at night. Show off your culinary skills in the wide open kitchen with cabinets for all your cooking essentials and counter space-a-plenty. Breakfast bar, butcher-block-island and large pantry a plus!
French doors in Family-style Dining Room open to a low maintenance decked backyard. A perfect outdoor retreat to enjoy BBQing, entertaining and unwinding in the hot tub.
Both bedrooms are located on the second story with a massive bonus loft. Great area for a game rd ...