Team Sweasey's Real Estate Blog

June 21, 2017

Don't miss our great Cayucos Open House this Friday June 23rd, 9:45am-12pm at 2133 Pacific Av, Cayucos, 93430

A rare opportunity to own this wonderful custom home right across the street from beautiful Cayucos beach, just 65 short steps to the sand and ocean. Enjoy beautiful sunsets and great views of the ocean and Morro Rock from the living room. Open concept floor plan with the gourmet kitchen opening to the dining area and living room. Featuring 3/4" hardwood floors, wood plank vaulted ceilings and plenty of windows to bring in the natural light. 2 bedrooms and 1 bath at entry level plus a private patio with outdoor shower. Upstairs showcases the living area, master bedroom, multi-functional bath and access to the deck overlooking the tranquil patio. 2 car tandem attached garage could be converted to 4th bedroom. Enjoy sun, surf and sand in one of the most desirable beaches on the Central Coast.

Click the link to find out more and we look forward to seeing you on Friday morning - http://bit.ly/2so2Ap2

2133 Pacific Av, Cayucos, 93430

June 6, 2017

The Key to Selling Your San Luis Obispo Home for Top Dollar

How can you make the most money possible from your home sale?

The answer to this question oftentimes depends on the marketplace. Right now, we’re in a seller’s market. We’ve worked with numerous sellers lately whose homes generated multiple offers that drove their sale price way up.

Across the board, there is very limited inventory. At this time last year in San Luis Obispo, there were 133 homes listed for sale. This year there are 102, which is a 30% drop. In Morro Bay, there were 63 available homes last year. This year there are 48. In Atascadero, there were 111 homes for sale last year. This year, there are only 71.

There are two factors that affect the value of your home. The first is the condition of the home, which is something you can control. This includes variables like whether you’ve upgraded the kitchen or whether the landscaping looks fresh.

The condition of the home, though, won’t have as much of an effect as the second factor—the condition of the market. Timing the market is impossible, but knowing when it’s a buyer’s or seller’s market and acting accordingly can get you more money than putting $30,000 or $40,000 into upgrading your house.

If you feel that you must remodel areas of your house, remember that it usually costs more and takes longer than you anticipate.

So, what can you do to sell your house?

The first thing you can do is give us a call. We’ll tell you exactly what to do. Prepare your home for sale the same way you’d prepare your automobile for sale. Nine times out to 10, you probably wouldn’t go so far as to repaint it or do any reupholstering, right? You’d probably just get it detailed, decluttered, and washed thoroughly. After the preparation is done, you want to take advantage of the market with timing.

If you have any questions about getting the most money out of your home sale, don’t hesitate to give us a call. We look forward to helping you.

May 17, 2017

Home Share SLO Is Improving the Market for Owners and Renters

I’m delighted to be joined today by Stephanie Teaford, an Outreach Coordinator with Home Share SLO. She’s here to talk about this fascinating organization she is part of and the work they are doing to solve a need in the community that also solves a need in the real estate market.

Home Share SLO is a local, county-wide nonprofit organization that matches homeowners who are looking to rent out extra rooms to people in the area who are seeking safe, affordable housing.

Back in 2016, they recognized a need for affordable housing with the growing number of low-income, single senior women that are in the community and the special needs they have around housing. A lot of these folks don’t feel comfortable navigating the market to find their own roommate, so we saw this opportunity for some assistance to try and mobilize more rooms in the housing market.

You might know neighbors or relatives that would be perfect for this program. Stephanie and her team are great at putting matches together. This program fills multiple needs, including helping their renters feel safe and secure while also providing homeowners with extra passive income. The social connection that comes along with having someone in your daily life can be extremely valuable for both sides as well.

There is a huge need for affordable housing in our community, and this is one of the better solutions I’ve found. If you know someone who is in need of affordable housing, reach out to Stephanie at (805) 215-5474 or online at www.homeshareslo.org, where you can learn a lot more about this great organization.

If you have any other questions about real estate in SLO, we are always here to answer them. Just give us a call or send us an email today. We look forward to hearing from you.

April 19, 2017

Extra Video Tour: 2711 See Canyon Road, San Luis Obispo 93405

A fabulous new listing: Designed to optimize natural light, beauty, and privacy, this stunning 3 bedroom, 4 bath, modern, minimalist, SLO home is a masterpiece of concrete, glass and steel. Located on a sprawling 23.8 acre parcel, this solar, energy efficient home showcases open concept living with disappearing 11' glass walls opening to multiple decks. The view is from an elevated, southern facing slope to a pristine, original majestic oaks, panoramic canyon. The grounds include a year round creek, a manicured 1 acre meadow, gentleman's orchard, Japanese garden, and a solar voltaic system.

Click the link to find out more about the incredible specification of this unique and spectacular home - http://bit.ly/2n7ohoZ

April 19, 2017

San Luis Obispo 1st Quarter Market Update

We’re well into the second quarter of 2017, so it’s a good time to give you an update on exactly what’s happening in the San Luis Obispo real estate market.

Inventory is relatively flat compared to last year. It may feel lower due to the increased number of sales. For sellers who price their home at market value, we are seeing multiple offers and bidding wars.

There are a few areas that stand out right now. One is Morro Bay, where we saw a 28% increase in home sales since last year. We recently listed a home at $759,000 in that area and ended up selling it for $800,000. In San Luis Obispo, we saw a 27% increase in sales as well. Finally, Grover Beach saw the biggest jump in home sales, with a 75% increase from last year.

Taking all the areas we track into account, we saw a 7% increase in inventory and a 25% increase in sales. We’ve got a relatively tight market as you can see, and homes that are priced right are selling quickly. Rates are still pretty low and we don’t expect them to increase significantly over the next year.

If you have any questions for us about the market or what these numbers mean for your specific situation, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.

March 31, 2017

Video Tour: 2711 See Canyon Road, San Luis Obispo 93405

A fabulous new listing: Designed to optimize natural light, beauty, and privacy, this stunning 3 bedroom, 4 bath, modern, minimalist, SLO home is a masterpiece of concrete, glass and steel. Located on a sprawling 23.8 acre parcel, this solar, energy efficient home showcases open concept living with disappearing 11' glass walls opening to multiple decks. The view is from an elevated, southern facing slope to a pristine, original majestic oaks, panoramic canyon. The grounds include a year round creek, a manicured 1 acre meadow, gentleman's orchard, Japanese garden, and a solar voltaic system.

Click the link to find out more about the incredible specification of this unique and spectacular home - http://bit.ly/2n7ohoZ

March 24, 2017

Should You Worry About the Interest Rate Hike?

There are a few things going on in our current market that I want to talk about today.

The Federal Reserve has raised interest rates. However, they raised the federal funds rate, which is what banks use to lend to each other. So, while the federal rate increase could affect credit card loans or car loans, it did not have an immediate impact on mortgage rates.

Mortgage rates are determined more by the marketplace. As of right now, rates are around 4.25%, which is still very good. Many people were worried about the Fed raising rates but the market already anticipated that increase, so mortgage rates have not changed much. Of course, you should always check with your lender and see what kind of rate you can get with your specific financial situation. However, I wouldn’t be too concerned about interest rates if I were you.

Another question I’m getting a lot in our current market is, “Why is it taking so long to close my escrow?” Recently, the San Luis Obispo multiple listing service went through a major overhaul. Appraisers and Realtors alike are dealing with a bit of a learning curve right now. Changing the MLS is like an operating system update for your phone, except much more complicated. So, just be aware that if you are in escrow, it could take a little bit longer.

Recent sales data isn’t where it used to be, which causes issues for appraisers, and some agents aren’t sure where to find listings. It’s almost like we went back to the old days when all of the listings were in a book and agents had to call each other to learn more about homes, which isn’t necessarily a bad thing.

Ultimately, the new MLS system will really help homebuyers and sellers. It will just take a little bit of time for real estate agents and appraisers to adjust. For now, the good news is that you don’t have to worry about the Fed’s interest rate hike. Our market is still very healthy.

If you have any other questions about either of these topics or if you would like to learn more about our current market, give me a call or send me an email. I look forward to hearing from you.

Feb. 13, 2017

What Happened in January in Our Market?

I have some numbers that I confirmed for our January 2017 market that I would like to share with you today.

Inventory was down in January compared to last year, and our total sold homes were up a little bit. Normally, when buyers don’t have as many choices, there aren’t as many homes sold. So, I decided to take a closer look at what happened last month in a few key areas.

This year in Morro Bay the number of homes available is down and our number of new homes going into escrow is higher.

In Arroyo Grande, the inventory is basically flat compared to last year, but the number of homes in escrow is higher.

Paso Robles saw a drastic 20% decrease in inventory and pending sales are down 38%.

Los Osos was down to only 16 active listings in January with only five pending home sales. Last year in January, we had 14 pending home sales.

Atascadero actually saw an increase in inventory with 84 homes for sale this January compared to 57 last year. There were also 41 pending home sales this year compared to 28 last year.

Finally, in San Luis Obispo we had 102 active listings in January of 2016 compared to 71 in January of this year. That’s close to a 30% drop. The pending sales are up slightly with 30 in January compared to 29 last year.

Right now is a great time to sell, as the homes coming on the market right now are getting a lot of attention.

If you have any questions please feel free to give me a call or send me an email. I’d be happy to help in any way I can.

Jan. 20, 2017

Does Investing in Real Estate Make Sense for You?

For the most part, people who invest in real estate do quite well. What is it like to invest in real estate?

Of course, you have to make sure that you are buying the right property, that you have enough money down, and that investing in real estate makes sense for you. However, there are a lot of benefits to investing in real estate that people don’t know about. You can even use your investment as a vehicle for your retirement.

In San Luis, you can buy a property with a few units for $750,000. You can rent those units out for $5,000 a month, giving you a new income of $60,000 a year, which is pretty good!

There are also many tax benefits to owning real estate. For example, you may be able to depreciate on your tax return. The IRS figures out the value of the building. If your $750,000 building depreciates by $18,000 and you are bringing in $60,000, then the taxable amount drops to $42,000.

If you have a loan on your investment, you can also write off the interest. As a result, you will show very little income on your taxes, and you may not be taxed at all for the income you do show.

Finally, the rental market is very reliable in our county. If one of your tenants leaves, you will most likely have another one soon.

As you can see, there are many benefits to investing in real estate. Keep in mind that real estate is not a short-term investment, so you can’t jump in and out. Real estate is a long-term investment that can really help build wealth for you and your family.

Of course, this is just a broad overview of investing in real estate. If you have any more specific questions, give me a call or send me an email. I would be happy to help you!

Jan. 4, 2017

We Would Like to Help You in Any Way We Can

As your trusted real estate resource, we’re connected to a variety of related industries and can offer you many recommendations and referrals for many different services.

Did you know that we do more than just buy and sell houses?

After doing real estate for 25 years, I’ve gotten to know some great people in a variety of related industries. We have clients calling us all the time because of our connections. If you’re ever in need of a specific service, we can usually recommend someone or at least give you a couple of great referral options.

For example, if your property taxes are above where you think they should be, you can call us and we can give you the necessary information for you to make a presentation to the county assessor to get those taxes lowered.

We also have people frequently asking us insurance questions, so we know many good insurance professionals who can help you in that field. Real estate financing is another industry we’re closely connected to, and we know more than our fair share of general contractors and handymen of all types who’d be happy to help you.

Whatever you need, think of us as your real estate resource. If you need anything in that respect, don’t hesitate to give us a call today on 805-781-3750.