Paso Robles Area Real Estate

2018 Northern San Luis Obispo County Home Sales

The best quote that caught my eye on social media lately: “The interest rate on rent is 100%.  Remember that when you hear rates in the 4s, 5s and 6s!”.  One thing I always tell my clients: “Don’t base your decision to buy on appreciation alone.  Real estate goes in cycles meaning prices go up and down.  If you have a fixed payment that you can afford, you can weather any cycle, your payment every month will help pay down what you owe like a built in savings account.  The appreciation in the market is a bonus.”  This is true for purchasing a primary residence and investment properties alike.  Everyone’s finances and financial goals are unique.  That being said let’s dig into what happened in the market in 2018!

Below is a summary of the 2018 real estate market.  According to the information tracked by Fred Bruen, Realtor with RE/MAX Parkside Real Estate, the number of sales in Northern San Luis Obispo County decreased 15% from 2017 while prices increased 3% over the same period.  This tells me that buyers are really taking the time to evaluate their wants and needs before making a purchase.  This may be partly due to the slight uptick in interest rates but in the last month or so rates have dropped a little.

The 2 graphs below show Northern San Luis Obispo County single family home sales totaled 302 units in the 4th quarter of 2018. This is down 15% from the 354 units sold in the 4th quarter of 2017. This downward movement is in line with most markets across the U.S. You may click on a graph for a larger image. This is an indication that demand is waning when we consider that we had only 2.6% fewer new listings come on the market in 2018 over 2017 but 15% fewer sales. You may click on a graph for a larger image.

 

The following 2 graphs illustrate that the median sale price for the 4th quarter 2018, $475,000, is up 3% over the median sale price in the 4th quarter of 2017 at $462,500. That’s 8 straight quarters of upward movement in value for our little micro-market and nearly double the national median sale price increase reported. You may click on a graph for a larger image.

 

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Additionally, if you are active or retired teacher, veteran, military, fire fighter, law enforcement, medical professional, EMS let us show you how you can save by using the Homes for Heroes program. The program is not limited so you can use it if you are buying or selling real estate and it’s easy to use.  If you are thinking about buying or selling please feel free to reach out to our team, leave a comment below.  We are happy to discuss options and help put you in a position to attain your real estate related financial goals.

SOLD! 550 Hanson Road, Paso Robles

This wonderful property has a new owner for the holidays! Congratulations to our Client, the Sellers and the new owners.   This property closed over a week early, all parties worked together to make it happen before Christmas!  Go Team Work!

874 Sycamore Canyon, Paso Robles

Exquisite move in ready home! This spacious home boasts 4 bedrooms plus a large bonus room, 3 bathrooms, separate family and living rooms and a generous dining area. One guest bedroom and bathroom are located on the main level. The delightful kitchen features granite counter tops, walk in pantry, lots of counter and cabinet space, a generous island, stainless steel appliances, double ovens, and charming tile floors. The kitchen opens to a cozy living room warmed by a fireplace. The large master suite includes an adjoining bonus room, soaking tub, separate shower and giant walk-in closet. Enjoy the benefits of an on demand water heater and a fully equipped home security system. Outside you’ll find a concrete pad along side the house for your RV or boat parking and a low maintenance back yard.

Check out the virtual tour

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Paso Robles Open House

Cynthia Canet of RE/MAX Parkside Real Estate will be hosting an open house at 874 Sycamore Canyon, Paso Robles Saturday, November 17th from 1-3pm.  Come by, say hi, and tour this wonderful home.

Can’t make it Saturday?  That’s okay just let us know and we can set up a private tour that works with your schedule!

 

5355 Camp 8 Road, Paso Robles

This is one spectacular property!  The 3 bedroom 3 bathroom house has stunning views of the neighboring vineyards and surrounding irrigated land. The house is 2,500+/- sq ft with a large enclosed office area between the house and attached garage.  A beautiful covered entertaining area complete with BBQ and bar overlooks the irrigated pasture and the vineyards of Windfall Farms.  The property is powered by a leased solar system.

The land is  approximately 81 acres with 39+/- acres in irrigated alfalfa, 5+/- acres in irrigated pasture and more grazing ground near the back of the property.  The terrain is level to gently rolling with a seasonal creek splitting the irrigated and alfalfa ground.

Priced at $2,600,000 Click here for more information.

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Reduced! 550 Hanson Road, Paso Robles

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Wonderful 20+/- acre parcel adjacent to Paso Robles with a quaint manufactured home, shop, barn, well designed pasture and pen system for horses and livestock.  Enjoy the beautiful vineyards from surrounding the property from the back yard.

$679,000 click here for more information.

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Sold! Congratulations!

Congratulations to our dear client for selling their home in Quail Run 55+ community in Paso Robles.  We hope the new owners will enjoy the home for years to come.

 

The Winds of Change

Those of you trying to sell a house are probably already feel the change.  We have been talking about it here in the office for a few months, showings slowing down, offers slowing down, more price reductions happening.  We are starting to see it in the numbers.

Since homes are often under contract for one, two, three or more months, it takes time for the pricing and velocity to adjust.  Which is why agents “feel” the slow down before the numbers reflect it.

The Orange County Record  posted an article earlier this week stating that “single family homes fell 17.6% in the five county Los Angeles metro area.”  That is a big drop.  It is well known that we get a big influx of people from the the Los Angeles area and the Bay Area.  This is likely, in part, causing our slow down.  If they can’t sell their house then they wont be purchasing another one.

According to ABC 7 News, the Bay Area is seeing a market correction too.  The predictions for 2019, according to this article, are an increase in pricing and an increase in inventory.  People are looking for quality and willing to wait for the right house to come along.

According to the California Association of Realtors 2019 California Housing Market Forecast:  high home prices and affordability will contribute to a weaker housing market in 2019, and 2018 as home sales will register lower for the first time in four years. There will be a modest decline in existing single-family home sales of 3.3 percent next year to reach 396,800 units, down from the projected 2018 sales figure of 410,460. The 2018 figure is 3.2 percent lower compared with the 424,100 pace of homes sold in 2017.

The changes can be attributed to a number of items:  rising interest rates, changes in tax laws, the looming election panic over Proposition 10 (rent control).  Maybe it’s a little bit of everything.

The real estate marked is always changing and evolving.  Unfortunately, we find the peak of the market and the bottom of the market after they have already passed and it is nearly impossible to time it perfectly.  The information above is great news for prospective home buyers who are scrimping and saving for their first home purchase.  But it is’t very comforting for those who are hoping to sell and then buy.  Seller’s can’t “push” the market anymore.  Sellers need to be well positioned with the house that is dialed in and priced well in order to move it fast.

We’d love to hear your thoughts! Comment below or message us!

 

 

48140 Reliz Canyon Road, Greenfield

If a private weekend getaway is what you’ve been looking for, or a secluded cabin with your personal hunting ground right outside your door is what’s calling your name, then welcome home to 48140 Reliz Canyon Road! With properties in this area rarely on the market, you truly don’t want to miss out on this one!  This spectacular property boasts two parcels totaling 295 +/- acres of gently rolling to steep terrain right up against Los Padres National Forest. Around the quaint, cozy, and well-maintained cabin is approximately 5-7 gently rolling, usable, acres which allow for endless possibilities….a barn? arena? home expansion? With two wells, livestock fencing, irrigated acreage, and amazing views, let your imagination run wild with what you can do with this property.

Only 10+/- short miles outside the city of Greenfield and Highway 101, Reliz Canyon Road is a paved, county-maintained road that meanders through the property and follows a seasonal creek on the south side. Work that 8-5 all week and hop in the car for that short 2-hour (or less!) drive from the Bay Area to your private paradise. The country is calling, and you must go!

Message us below for more information!

Priced at $975,000

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Equestrian/Livestock Property Adjacent to Paso Robles

Country living yet just outside the City Limits of Paso Robles. This nearly all usable 20+/- acre parcel features two peaceful hilltop view sites, one of which is improved with a comfortable 1,200 sf, 3 bedroom, 2 bath manufactured home (on a foundation) with a detached 2 car garage. The property is set up for your equestrian or livestock uses, is fenced and cross fenced and has at least 11 acres that are suitable for dry farming. There is also a 1,600 sf barn with 3 stalls with turn outs, a tack room and separate hay storage. There is a shop building with work bench and room to store your tractor. Around the shop area is room to park recreational vehicles, equipment and/or horse trailers. Enjoy the summer evenings from rear deck taking in the views of the land and surrounding countryside. Priced at $720,000

Call or text Wade Taylor 805-550-1078 or Alicia DiGrazia 805-835-3373 to schedule a tour.. or simply Click Here

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