paso robles real estate

sudoadmin
February 27, 2020

PLUNGING INTEREST RATES COULD HELP BUYERS ON THE FENCE

Mortgage rates are falling fast, and they could sink even lower reports Mortgage News Daily. The 30-year fixed-rate mortgage now averages 3.34%, a rate last reached in 2012 and briefly in 2016. That is for borrowers with strong financials and credit scores.

As coronavirus fears hit financial markets, U.S. bond yields are tanking, pushing mortgage rates that loosely follow the 10-year Treasury yield toward an eight-year low. They could sink even lower.

“When rates fall this quickly, it’s not so much that big banks draw the line on mortgage rates, but rather, the underlying mortgage backed securities market refuses to improve as quickly as the Treasury market,” Matthew Graham, chief operating officer at Mortgage News Daily, explained to CNBC. Mortgages become less valuable to investors if they get paid off too quickly.”

And those payoffs, or refinances, are surging right now. Applications to refinance a home loan are up around 165% annually, according to the Mortgage Bankers Association.

Mortgage applications to purchase a home have not been as strong, due to the severe shortage of homes for sale. Builders, however, may be getting a boost, especially those putting up more affordable homes.

GOOD NEWS FOR ENTRY-LEVEL BUYERS

Falling rates help loosen up a tight market. When rates rise, homeowners are more likely to stay put because they don’t want to take on bigger mortgages. But when loan costs fall, buyers on the fence get motivated to trade up. And that frees up entry-level homes for eager first-timers.

People shopping for homes will likely see lower rates in the coming weeks as the 10- year hits new lows, according to Bankrate.com. For existing mortgage borrowers, another drop in rates might clear the path for refinancing.

“The refinancing door has blown open with mortgage rates continuing to fall amid fears of slower global economic growth,” Greg McBride, CFA, Bankrate chief financial analyst says. “This helps those looking to refinance a mortgage as well as would-be homebuyers .”

BUYERS TRADE UP

If you are ready to buy the downturn interest rates can be a big win. One result of falling borrowing costs is that buyers are able to afford bigger mortgages. Those seeking pricier properties are acting now because their choices are increasing, and profits from selling their current home can fund the down payment on the next one.

To take full advantage of lower interest rates, the key is to be prepared. Be sure to choose the right Real Estate Professional to make sure all the details of a transaction are complete. Make sure to have your pay stubs, tax returns, bank statements, and other necessary documents together so there is no delay in processing. Delays could be costly when there is no guarantee how long low interest rates will last.

Whether you are looking to buy or sell, C21 Hometown Realty’s Agents have the most homes listed and the most homes sold! Visit one of the ten local offices throughout the Central Coast or click on c21home.com.

About CENTURY 21 Hometown Realty – Hometown Realty is the leading real estate firm on the Central Coast of California with offices spanning Santa Barbara County and San Luis Obispo county offering expert agents and convenient locations.

Bysudoadmin
OnFebruary 27, 2020

sudoadmin
December 17, 2019

2020 VISION FOR REAL ESTATE IS LOOKING GOOD

Lower than expected interest rates kept real estate strong in 2019 and many experts predict 2020 will keep rolling in the same direction. According to a recent article in Forbes, Odeta Kushi, deputy chief economist at First American, shared that mortgage rates will remain low next year, between 3.7 and 3.9%, fueling a healthy real estate market.

PRICES TO KEEP RISING

Tight inventory and increased demand will keep pushing prices higher. In fact, with mortgage rates either staying the same or actually dropping, competition will increase for buyers which may result in bidding wars. Redfin predicts one in four homes will result in a bidding war which is great news for home sellers who may have been holding out when most homes prices dropped slightly on the Central Coast over the past year. The Forbes article shared data from CoreLogic, stating home prices should tick up by 5.6% by next September which is more than 3.5% from this year.

ECONOMIC GROWTH, NOT A RECESSION

Although many economists have predicted a mild recession in 2020, a housingwire.- com report states, “Current conditions point to a recipe for continued economic growth, not a recession. Growth itself may be slower than the strong pace we’ve seen at times throughout the recovery, but growth will still occur for at least the next year.” Reasons cited for the economic growth are a healthy consumer confidence and job growth.

HOME SIZES WILL SHRINK, BUT AMENITIES ARE KING

Inventory will continue to be tight as Millennials and Generation Z enter the market, but Baby Boomers are not budging from their long-time homes. Zillow predicts that new home sizes will shrink for the fourth time of five years due to younger buyers having less money and can’t afford to purchase larger homes. To make up for square footage, many new homes are offering upgraded amenities to attract buyers.

Whether you are looking to buy or sell in the new year, experts agree you should enter the real estate market early in 2020 to take full advantage of the growing market. As the #1 broker on the Central Coast, C21 Hometown Realty’s Agents have the most homes listed and the most homes sold! Visit one of the ten local offices throughout the Central Coast or click on c21home.com.

Bysudoadmin
OnDecember 17, 2019

sudoadmin
July 10, 2019

BUYING BEFORE THE SCHOOL BELL RINGS

Just because summer is here does not mean it’s too late to get in before the school year begins. It does mean time is of the essence to find the perfect family home and get your kids enrolled in a great school!

RIGHT SCHOOL

Buying the right home is more than square footage and amenities, for many young families it’s also about being in the right school zone. At C21 Hometown we understand the importance of knowing what ’s going on in a Community. That’s why at C21Home.com, we offer Climate, Culture, Market, Lifestyle and School information for every Community we serve. Most Central Coast schools boast above-average rankings for California.

To find out how specific schools are ranked, check out:
San Luis Obispo County: https://school-ratings.com/counties/San_Luis_Obispo.html
Santa Barbara County: https://school-ratings.com/counties/Santa_Barbara.html

MARKET IS HOT

Whether you’ve been looking and may have lost out to multiple offers or have been holding out to avoid the Spring Frenzy, now’s a great time to buy. Many new homes have been added to the inventory pool in recent weeks and prices are slightly lower than last year’s summer season according to the California Association of Realtors.

THIS WEEKEND

A typical time period from offer to closing is 30-45 days, assuming no issues come up with the mortgage and title process. So let our C21 Hometown Agents find you and your family the perfect home so you can start the school year off right!

Bysudoadmin
OnJuly 10, 2019

sudoadmin
June 25, 2019

CALIFORNIA DREAMIN’ FOR PROPERTY INVESTORS

The “California Housing Market Report and Predictions” article released by Gord Collins of Manage Casa, explored the key factors that will drive the California market for the years ahead. Below are key excerpts from the article.

CALIFORNIA DREAMIN’

California is a special place to live and rent, and to buy and sell a home. The market diversity is hard to comprehend. And the battle for homeowners hanging onto proposition 13 benefits is very different for young buyers who discover that renting an apartment is better.

It’s this dynamic pull of outrageous wealth and outrageous regulations that makes it hazardous to invest in real estate in this state. Definitely wise to hire a Realtor.

No other economy is as diverse and dynamic. It’s the opportunity that attracts millions of newcomers to live and start businesses here. Most tech startups for instance launch in the Bay Area despite the high cost. Employment and wages have grown and that has put pressure on the California housing market.

WHAT’S HAPPENING AND WHAT MAY HAPPEN

A few pundits believe the California housing market is well past peak. Yet economics, demographics, buyer demand (and last 2 months sales stats) seem to refute that notion. Millions of apartments need to be built in the next decade, a good portion, right here in CA to soothe in insatiable demand (housing crisis).

California’s economy grew 4.7% in the 12 months ended in February compared to the national rate of 2.8%. It could grow at a 2.55% pace in the next six months — faster than the national 1.59 – report from Mercury News.

With interest rates fears gone, and new trade deals with China, any negative economic aspects could disappear. That would mean fast rising prices again for the whole state.

KEY FACTORS IN CALIFORNIA’S HOUSING MARKET GROWTH

1. wages create prices pressure on housing
2. demographics – lots of millennials buying and babyboomers selling
3. interest rates – staying stable
4. migration – slowed to keep prices stable
5. cost of business – extremely high (would you like to see my San Francisco parking fee?)
6. home prices – wickedly high
7. rent vs buy – for most the idea of purchasing is a hopeless dream
8. multifamily new construction – picked up nicely but NIMBY’s still winning
9. taxation and tax savings – much better this year With taxes dropping, interest rates stable, wages rising, prices stable, mortgage requirements reasonable, and rising personal savings, why aren’t people buying? Simple, they’re hoping prices will plummet.

A HEALTHIER CALIFORNIA

There are more homes for sale and more buyers. After a strong lull, the upward march on California homes prices continues.

Zillow gives California an improved 9.6 out of 10 rating and a revised forecast of 7.6% price growth prediction for the next year.

“We’re seeing interest and money shift away from the overheated markets into less expensive secondary markets…Even if we see some markets overheat and demand softens slightly, that doesn’t mean prices will go down” — Javier Vivas, director of economic research at realtor.com.

To read the entire article addressing “California Housing Market Report and Predictions”: https://managecasa.com/articles/california-housing-market-report/

About CENTURY 21 Hometown Realty – Hometown Realty is the leading real estate firm on the central coast of California with offices spanning Santa Barbara County and San Luis Obispo county offering expert agents and convenient locations.

Bysudoadmin
OnJune 25, 2019

sudoadmin
May 20, 2019

Should you buy a second home? Predictions for the 2019 market.

In view of the healthy economy, you may be thinking of buying a second home as a vacation getaway, as housing for family members or as an investment property.
That could reap great benefits, but you should only proceed with insight into this year’s secondary home market.

A few predictions from real estate specialists:

In general you can expect a buyer’s market, according to Bloomberg.

Costs may be attractive in vacation areas, where prices grew only 14.8 percent in the past three years compared to 25.2 percent in non-vacation areas. Another report notes vacation markets have underperformed the overall market every year but one since 2010 (except in the Midwest, where they’re now slightly overperforming). Factors in the downward slope may include everything from climate change to demographics to Trump’s tax reforms.

Because interest rates may rise this year, buyers may wish to act soon, anticipating slightly higher loan rates for secondary homes.

Bysudoadmin
OnMay 20, 2019

sudoadmin
April 8, 2013

Featured Ranch with 30 Acres on Westside of Paso Robles

Century 21 Hometown Realty has one of the most successful Ranch and Ag sales divisions on the Central Coast of California. We are grateful to be able to offer this spectacular 30 acre property. The ranch is located just three miles outside of downton Paso Robles, blending rural living with the convenience of everything that Paso has to offer, including world class dining, shopping, schools, and social activities.

The ranch itself is nestled around many fine vineyards and tasting rooms. The terrain, from level to rolling hills, is fenced and cross-fenced. This is an ideal property for vineyard development with the highly sought after # 152 Linne Colado soil type. There are gorgeous views surrounding the 1800 square foot log home with granite counter tops and Italian porcelain tile flooring. The home features a two-sided fireplace and more than 12” thick, very well insulated walls to help stay cool in the summer and warm in the winter. Five acres of 4 year old pomegranates are planted on drip and a seasonal creek with a natural spring is adjacent to the southern boundary. There is a barn, a horse shelter, dog run, shed, vegetable garden and plenty of area to park.

This property has its own custom website, full of information http://www.1780nacimiento.com/

To visit the MLS listing for this property with a full listing of property features, Click Here

Bysudoadmin
OnApril 8, 2013

sudoadmin
March 9, 2013

Most Expensive Properties For Sale in San Luis Obsipo County

Next weekend, the Young President’s Organization will be having an event here is San Luis Obsipo County. It will be hosted by Ed Stevens, CEO of Shopatron, one of the county’s largest private companies with more than 100 employees, and a member of YPO. To be eligible for YPO, you must be under the age of 45 and the CEO of a company that has more than 50 employees, has a payroll that exceeds $1mm, have revenue of at least $8M, and be valued above $10M. In other words, these are the young successful leaders of our nation.

As part of their visit to the coast, they will be learning about the local wine industry and the lifestyle of San Luis Obispo County. They are sure to be inspired by the regions glorious ocean vistas discretely contained backed by mountain backdrops and the rolling hills planted with the worlds best wine, fruit, and vegetables. We are truly blessed to call San Luis Obsipo our home. As part of the tour, these YPO executives will be provided with area real estate information provided by Century 21 Hometown. Here are the 3 most posh properties that are available for sale in San Luis Obsipo County.

1. $21,850,000 – 591 Hi Mountain Road, Arroyo Grande. Rancho Arroyo Grande Vineyards. Stunning vineyard estate with about 230 Acres planted with Vines, Olives. View It here

2. $19,995,000 – 8383 Lone Palm Drive, Cambria, CA. Casa Pacifica – If you want to live like the Hearst family, you may want to consider this ocean front property offering 1000 feet of sandy beach. View It here.

3. $9,000,000 – 5225 Buena Vista Drive, Paso Robles, CA – This ranch offers nearly 350 acres of vineyards and orchards. Nearly 100 acres are planted for wine grapes, about 125 acres planted for pistachios, about 40 acres of pomegranates, and about 50 acres cleared and ready to plant your dream of deliciousness. View it Here.

4. $6,500,000 – 678 Sheehy Road, Nipomo, CA – Spectacular home approx. 8,806 sq.ft. with loads of amenities and features for those seeking the very best. The property is a total of approx. 22.8 acres. There is nearly 20 mile panoramic views of the Pacific Ocean, Central Coast and surrounding rolling hills. There is an orchard with approx. 987 avacado and 481 lemon trees room left over for a vineyard! View it here.

Remember, Century 21 Hometown Realty has offices though out the central coast from Ventura County to San Luis Obispo county with more than 300 REALTORS(r) ready to serve you. We also have a Ranch and Vineyard division, a group of agents who offer a depth of understanding on areas of California Tax Law, Water, and other critical areas of these speciality properties that are critical to understand.

Bysudoadmin
OnMarch 9, 2013

sudoadmin
February 10, 2013

Paso Robles Wine of the Month – Syrah

The central coast is among the most outstanding wine regions in the world, offering the prefect conditions for producing a wide range of outstanding varietals. For those who enjoy wine, there are few gastronomic pleasures beyond tasting a wine with your feet planted in the very soil in which it was grown. This may sound somewhat odd, but you can actually smell the vineyard in the wine – it is a rich earthly smell that changes from region to region.

In addition to the bounty of wine, there is a culture of wine that is as diverse as the wines themselves. The community boasts groups of all types of wine enthusiasts. Although there are massive wineries here, producing thousands of cases of wine for international distribution – there are also far more backyard vineyards where property owners embrace their version of the micro-winery. The results are outstanding.

If you would like help selecting a property for your vineyard, we have vineyard specialists in Northern San Luis Obispo County, Southern San Luis Obispo County, and Northern Santa Barbara County to help you.

This month, one of our local wine enthusiasts is celebrating Paso Robles Syrah. Here is a great video to enjoy

Here is a search result from our website that displays some of our favorite properties, Click Here

Bysudoadmin
OnFebruary 10, 2013

sudoadmin
August 23, 2012

We need more listings

Our company has grown from 100 agents to more than 300 over the past few years. You have probably see more Century 21 Hometown Yard Signs than any other local company. We have had to open offices in nearly every town on the central coast to support the growth. Century 21 Hometown Realty is currently working with more than 850 buyers company wide. There are only 994 listings available – which means that there is only about a month of inventory available. Please contact one of our offices or agents today if you can refer us to anyone looking to sell their home.

Specifically, we are looking for homes with the following criteria

South County San Luis Obispo: 3 bedroom price from 300,000 to 550,000.

San Luis Obispo: Any property that can be rented. We have investors looking for rental units to fill demand for rental housing.

Atascadero and Paso Robles: Land suitable for new home building.

Santa Maria: Condos, Duplexes, or 2 bedroom starter homes.

Arroyo Grande or Edna Valley: Luxury Homes – 3500 to 6000 sq ft or lots suitable for new homes.

Feel free to pass this along to anyone you know who may have an interest in selling their home.

Bysudoadmin
OnAugust 23, 2012

sudoadmin
March 11, 2012

Paso Robles Home Showing Report

Foot traffic to properties for sale can provide great insight into the direction of future home sales. SentriLock is the lock box provider to the regions real estate professionals. Today’s lock boxes are smart. They record information each time the lockbox is accessed, and record who access the box. Aside from the enhaned security features, knowing the number of showings is indicative of real estate buyer activity. SentriLock, LLC. provides showing data to the National Association of REALTTORS Research with monthly data on the number of showings.

Foot traffic in the area covered by the Paso Robles Board of REALTORS® (CA) declined by 13% in February of this year relative to the same month last year. This was the 4th consecutive year-over-year decline.

However, foot traffic from a year earlier was atypically strong, while current levels remain robust relative to the strong, tax-induced levels from the spring of 2010.

paso robles real estate showings report — Click Image to enlarge

Bysudoadmin
OnMarch 11, 2012