Team Sweasey's Real Estate Blog

June 30, 2020

Virtual Tour - 2555 Lupine Canyon Road, Avila Beach 93424

Highly upgraded Del Mar Plan featuring 3 bedrooms 2.5 baths located behind the gates of the San Luis Bay Estates in Quail Canyon. Beautiful courtyard patio entrance featuring gas fire pit, BBQ area plumbed for gas and lush landscaping providing privacy. The main level features the kitchen with built-in breakfast nook and remote window shade, built in desk, double oven and over looks the dining area and living room. The living room features surround sound, built in cherry wood entertainment center over fireplace and accesses the upper deck showcasing beautiful views of the hills. The master suite shares access to the upper deck and features a fireplace and luxurious master bath with separate shower and jetted tub. The lower level features 2 guest rooms sharing a full bath and family room/den with access to the lower deck reinforced for the spa. The 2 car attached garage features a finished floor, storage cabinets and a work bench. Don't miss this great opportunity to live near beautiful Avila Beach, the Bob Jones Trail so close to wineries and just a few minutes to Downtown San Luis Obispo.

Click here for more details.

June 22, 2020

What’s New in Our Market?

What’s happening in our mid-June real estate market? Things have been changing rapidly, so we want to keep you updated.

Compared to June 2019, we have 27% fewer homes on the market, which is good for keeping prices stable. Our pending sales are on track to reach 310 by the end of the month if we keep up at our current pace. That’s 26% more houses going into escrow with 24% fewer houses available. If this continues, home prices will increase.

Interest rates are currently unbelievable. I am refinancing my house right now, and I just got a 30-year fixed mortgage for a rate of 3%. For buyers, this means that if you were to have gotten a loan a year ago for $500,000, you could buy a $575,000 home today for the same monthly payment. That’s $75,000 more purchasing power than buyers had a year ago. If this persists, our market will remain strong.

The number of people contacting us wanting to buy, search for a home, and move to the area has gone up exponentially. Houses that had been sitting on the market for a while are now seeing multiple offers. In the last week, I sold two such properties, one of which sold for over list price. Buyers are out and about, and they’re taking advantage of the interest rates.

If you’re wondering how this could benefit you or have any questions, give us a call at (805) 781-3750 or send us an email. We would love to help you.

June 10, 2020

Virtual Tour - 3740 Colima Road, Atascadero 93422

A great single level, 3 bedroom 2 bath custom home, situated on more than acre near downtown Atascadero. Built by Robert Anderson, a master carpenter known for his work in the Hollywood film industry, the home showcases custom mahogany woodwork and cabinets throughout. Open floor plan with a spacious great room featuring vaulted ceilings with open beams, fireplace, dining area opening to the kitchen. Oversized 2 car garage with laundry area and ample room for storage and a separate workshop. The original back patio has been enclosed with a window, could be a lovely spot for a sunroom.  So much potential with 1.2 acres of usable land; add a granny unit, add some animals, a horse, a couple goats even a pig, plus enough room for any gardeners dream. There's even a large detached shed for all your garden tools and toys. Recently connected to the city sewer, new roof, new air conditioning and heating, new concrete walkway in front with new gutters and drain field. Conveniently located near schools, a short distance to Hwy 101 for commuting and just 20 minutes to downtown San Luis Obispo.

Click here to find out more.

June 8, 2020

Virtual Tour - 2564 Traditions, Paso Robles 93446

Immaculate single level 3 bedroom 2 bath home including a separate casita plus an office situated within the gated, 55+ Community of Traditions at River Oaks. Originally one of the models and highly upgraded featuring a courtyard entrance with fireplace, and the casita which would make a great art studio or additional office, craft room, so many possibilities. The gourmet kitchen features custom cabinetry, an abundance of granite counter space, including center island, stainless appliances and a cozy breakfast nook overlooking the courtyard. Separate dining room opens to the living room with fireplace and French door access to the private back patio. The master suite with wet bar, walk in closet, French doors to the back patio, features a luxurious master bath with dual vanity sinks, spa tub and separate shower. The guest room is conveniently located near a well appointed full bathroom, the laundry room and an office with glass door access to the front courtyard. The 2 car garage includes ample room for storage plus a golf cart garage as well! The community features many amenities including a clubhouse, pool, spa, gym, BBQ area and more!

Click here for more details.

May 29, 2020

Virtual Tour - 80 Encanto Lane, San Luis Obispo 93401

Just listed in San Luis Obispo. A beautifully updated single level 3 bedroom 2 bath attached home located in the Los Verdes Park II community. Enjoy countless hours of relaxation on the patio landscaped with privacy and beauty in mind. Vaulted ceilings and an abundance of windows provide a roomy atmosphere for the living room and dining area overlooking the lovely patio area. The kitchen has been remodeled with new counters, undercounter lighting, cabinets, appliances and reverse osmosis water purification. Click here to find out more and contact us on 805-781-3750.

May 20, 2020

SLO County Real Estate Update...Good News!

To kick off our mid-month market update, I want to briefly cover some items you may have already heard about but are relevant nonetheless: Our state colleges and universities will only be enrolling for online classes in the fall. President Armstrong released a plan detailing how he intends to handle this developing situation, because autumn for Cal Poly is still virtually four months away—we know a lot can happen in that time frame.

I encourage you to visit Cal Poly’s website for more information, but here I’ll abbreviate each possible scenario:

Scenario A): A partial or modified reopening wherein roughly 15% of classes would resume in person.

Scenario B): If the public health crisis simply doesn’t allow for a reopening, and it still seems too risky to hold in-person classes, then there will be a continuation of online classes.

Scenario C): If the situation improves such that a delayed reopening would provide a safe resolution, Cal Poly may simply push back the start of the quarter two to four weeks.

As you can see, there are a lot of possible contingency plans in place, and even though the next quarter doesn’t start until the fall, it’s important to stay up to date on this situation because what happens at Cal Poly affects our community and our county.

The second reason I’m bringing you a mid-month update is to report that I’ve seen a lot of activity in the marketplace recently. In April, people were reeling from the effects of the health crisis, whereas in May, I’m seeing an expansion into the market.

In April, we had 127 new pendings; only halfway through May, we’ve already had 109! That means we’re on track to hit 218 for the whole month, which would be 71% more pendings than the previous month.

In April, we had 145 new listings come on the market, whereas so far in May we’ve already had 109 (coincidentally the same number as new pendings). If things continue at that rate, we’ll finish May with 50% more new listings than the previous month.

Overall, people are becoming more comfortable with how we can safely and effectively operate in the real estate market amid this crisis. While danger and confusion are still present in our world at the moment, the initial paralyzing shock of COVID-19 seems to be subsiding and people are beginning to adjust as best they can. If you have questions about this or any other real estate topic, or are interested in buying or selling a property right now, reach out by phone or email. We’re always happy to hear from you and help in whatever way we can.

May 6, 2020

What’s the Latest From Our Market?

Today I’ll discuss what’s happening in the market, what’s going on with mortgage rates, and what that all means as we move forward.

The change in our market since the onset of the pandemic has been pretty marked:

  • The number of homes for sale dropped by 15%
  • There was a 60% reduction in the number of pending sales compared to April 2019
  • Closed sales are down by 25%
  • The number of new listings on the market dropped by 50%
  • Mortgage rates are down to 50-year lows. Lots of people are looking for properties to buy; we had around eight new buyers leads in just the last week.

So what does this all mean?

This reminds me of the market we experienced during the holiday season - those who are in the market to sell their homes are very serious, and those who withdrew when the pandemic hit weren’t that serious. Current buyers are serious; given all the measures required to be able to visit a property, they’d have to be to search in this market. Overall, the number of both buyers and sellers has shrunk, which means that home prices are relatively unaffected.

So what typically happens right after the holiday season? Activity picks up. I’ve contacted agents around the country to see what they were experiencing. In Florida and Oklahoma, where they’ve been reopened for a week or so, agents said their activity picked up above previous levels. That shows that as things begin to settle down, the market will also open back up.

If you have any questions about what this means for you, don’t hesitate to reach out to us. We look forward to hearing from you soon.

April 24, 2020

Virtual Tour - 660 Monadella Street, Arroyo Grande 93420

Elegant and spacious single level 3 bedroom 4 bath 3183 sq ft home situated on 1.24 acres with nice views of the dunes. Featuring custom design features including cathedral ceilings, arched doorways, columns, lighted niches, dual Lennox furnaces, and On-Q audio system throughout. Open and inviting floor plan with formal living and dining rooms, custom kitchen with breakfast bar seating overlooking the great room with fireplace and breakfast nook. Ease of access from the interior living areas to the back patio make it an ideal venue for entertaining. The master suite is located at the opposit end of the house and features dual walk in closets, a sitting area and luxurius master bath with soaking tub and seperate shower enclosure. Off the kitchen are 2 guest rooms sharing a full bath, a spacious office/den with access to a private patio, laundry room with built in cabinets and sink plus additional powder room. Beautifully landscaped providing a park like atmosphere and featuring raised beds, fruit trees, a large patio, lovely lawn area, gas fire pit, basketball court and several sitting areas to enjoy stunnning sunsets. The 3 car attached garage means ample room for parking, storage and recreational toys. Enjoy country living yet just 1 mile to the beach and just minutes to world class wineries, fine dining and shoppping. Click here for more details.

April 8, 2020

A Market Update You Won’t Hear in the News

As I prepare to give you a market update from an emptied office that’s usually bustling and full of life, I sort of feel like an astronaut giving his last correspondence from a spaceship. Looking back on my March 1 update, I realize I never could have imagined world events would unfold like they have.

To all of our friends and clients, I hope you’re staying safe and healthy. There’s so much misinformation swirling around out there, so my intent with this market update is to provide some clarity on what’s actually going on in real estate. People still need our services, and we’re still rising to the challenge.

Cited below for your convenience are timestamps that will direct you to various points in the video. Feel free to watch it in its entirety or use these timestamps to browse specific points at your leisure:

1:20 - An important shoutout to our medical professionals, first responders, teachers, and all those who continue to do the work needed to keep our society moving

2:57 - Quick overview of what’s been going on in the marketplace

3:52 - Answering questions about the continuity of our industry

4:19 - What the last 10% to 15% of a real estate transaction looks like under new safety protocols

5:25 - How our team is operating as safely and efficiently as possible under the circumstances

6:15 - What’s going to happen in the market? Using the principles we know to make responsible predictions

7:06 - Wrapping things up: We’re here for you, and we’re honored to help

If you have questions about anything I discussed in this video, or if you’re interested in buying or selling a home soon but aren’t sure how to proceed in these times, reach out to us. We’re always here to help and we look forward to hearing from you. Be safe and stay healthy!

April 3, 2020

Virtual Tour and Video Tour - 14030 San Miguel Rd, Atascadero 93422

Situated on just under 5 oak studded acres within the gated community of Summit Hills. Stunning main home featuring 4 bedrooms, 2.5 baths, 3233 sq ft and a 1000 sq ft detached secondary home with separate mailing address. Premium custom design features include an impressive formal entry with sweeping staircase, marble, tile and wool berber carpet throughout, vaulted ceilings, and great views from nearly every room in the house. Truly an entertainer's delight with a natural flow from the formal living room with wood burning stove to the formal dining room into the well appointed kitchen, breakfast nook and family room overlooking the majestic oaks. Main level bedroom, currently used as an office, powder room and 3 car garage with mirrored wall and ballet bar. Upstairs are 2 additional guest rooms sharing a full bath and an amazing master suite replete with fireplace, wet bar and french door access to a private deck, ideal for watching the sunset. Enjoy great views while soaking in the jacuzzi tub in the luxurious master bath with separate shower enclosure, and an another private deck. The second home features Luxury vinyl plank flooring, kitchen with stainless appliances, laundry room, full bath, bedroom and a large deck. The grounds include walking paths, seasonal creek, patio area, spa and saltwater pool located in a telescopic pool enclosure all overlooking the scenic hills. Desirable West Atascadero location, yet just six minutes to Hwy 101, and 15 minutes to Morro Bay!

Click here for more details.