Market Trends

Local Market Trends

By admin | May 25, 2022

With limited inventory and strong buyer demand despite increasing interest rates, many home buyers are getting creative making their offer as attractive as possible. While some warning signs of a slowdown are emerging, most sales in SLO County seem to be humming right along. Below are some of the terms I am often witnessing buyers…

Understanding Escalation Clauses

By admin | October 19, 2021

Given historically low inventory throughout California, many sellers are experiencing multiple offers situations as buyers have few options to choose from. As some buyers lose out time and time again, they often become more aggressive with their offer price and terms. This sometimes leads to a buyer including an escalation clause in their offer. Note…

September 2020 Real Estate Update

By Sitedev Admin | September 24, 2020

The California housing market continued to improve in August, with the median home price breaking $700,000 to hit a new record. August sales topped 465,400, the strongest pace in 10 years, and the second straight month over 400,000 as motivated buyers flooded the market. According to C.A.R.’s weekly data, home sales in California have fallen in recent…

Coronavirus Market Impacts-6/24/20

By admin | July 7, 2020

As California entered its second month of reopening under phase 2, the recovery is proceeding at a cautious pace. While the rebound in the economy is uneven, the housing market continues to exhibit strength and remains one of the most promising sectors, poised to lead the economy forward. Despite home sales declining more than 30…

How COVID-19 Affects Real Estate

By Sitedev Admin | May 2, 2020

We are in uncharted territory – that much is clear. After a Shelter-in-Place order was announced by SLO County on March 18th and a subsequent statewide order was announced on March 19th, the real estate community has been left to decipher whether or not sales activity are deemed “essential”. The California Association of Realtors® (C.A.R)…

2020 California Housing Forecast

By Sitedev Admin | May 2, 2020

*Excerpt from a press release by the California Association of REALTORS® Low mortgage interest rates will support California’s housing market in 2020 but economic uncertainty and affordability issues will mute sales growth, according to a housing and economic forecast released by the California Association of REALTORS®. C.A.R.’s “2020 California Housing Market Forecast” sees a small…

The Problem with Zillow Zestimates

By Sitedev Admin | May 2, 2020

For many home buyers or sellers who search the Internet looking at home values, the Zestimate has become all too familiar. The question is, should that value be relied on? Zillow uses an automated valuation model (AVM) to determine the fair market value of a property, which takes into account basic characteristics like the number…