Michael E. Anderson
Michael E. Anderson
Broker Assoc. ABR, RSPS BRE# 01417114
(805) 698 - 3770
Anderson Home Pros Real Estate
3471 Turtle Creek
Orcutt, CA 93455
805-698-3770

Central Coast Real Estate Market Report

Santa Maria Market Report

Santa Maria, Orcutt, Santa Maria Valley Real Estate Market Report

Central Coast Real Estate

Santa Maria & Orcutt Housing Market Report

The Central Coast Real Estate housing market has cooled for the holidays, however it is progressing overall from last year at this time. Inventory (selection) for the North Santa Barbara county which includes Santa Maria and Orcutt Real Estate is up from 154 (Aug. 14 2013 to Oct. 13 2013) to 254 for the same time periods in 2014. Sales were brisk in October (see graph) over last year as well 108 vs. 126 in 2014. Foreclosures continue to drop and cash sales seem to be increasing… Santa Maria = 24 Lompoc = 13. Santa Maria, Orcutt and Lompoc continue to see an increase in builder confidence as the new housing tracts are being constructed at a rapid pace. This also adds to the inventory for all level of buyers. Interest rates have increased a bit and are now hovering around the 4% rate, which is still close to historical lows. Lenders seem to have eased the qualifications a little and this has helped many homebuyers into the market.

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Central Coast Thanksgiving & Home Tips

Happy Thanksgiving

For each new morning with its light, For rest and shelter of the night, For health and food, for love and friends, For everything Thy goodness sends. ~Ralph Waldo Emerson

Central Coast Home & Real Estate

Thanksgiving Prep Tips

1. Leave Cooking and Cleaning Behind These days, many people opt to go out for Thanksgiving, instead of cooking and cleaning at home. If you’re an extremely busy person, this may also work for you. If you don’t want to miss the feeling of being at home, lots of supermarkets and restaurants offer fully cooked Thanksgiving dinners. You simply pick everything up and place it on your table ready to be served, and if you must add a personal touch, make one special dish of your own.
2. Let’s Talk Turkey First, determine how much room you have in your freezer and refrigerator, and how many people you will be serving. Then, order your turkey. If you need more storage space, perhaps a neighbor or relative can help you out. Rather than defrosting a frozen turkey in water on Thanksgiving Day, defrost it a few days ahead in your refrigerator instead. This saves tons of time!
3. Check Your Inventory Check your supply of chairs, tables, dishes, glasses, pots, pans, serving plates and utensils. Arrange to buy, rent or borrow anything you don’t have.
4. Plan Your Meal Plan your meal from appetizers to dessert on a piece of paper. Make a list of all ingredients needed. Bring your list when you go shopping and check items off as you put them in your cart.
5. Cook Ahead Make any dishes that you can well ahead of time, and freeze them. On Thanksgiving Day, just defrost, heat and serve. You will save tons of time, plus you’ll be able to join in the festivities without being stuck in the kitchen.
6. Get Ready the Night Before You’ll be happy you took care of a few things the night before. Set the table. Get the good silverware out of storage. Lay out your wardrobe-and your kids’ wardrobes. Excerpt from Maria Gracia, founder of GET ORGANIZED NOW! Continue…

Home Remodeling-Not For The Faint Of Heart

NoProjectLeftUndoneAs a Central Coast Real Estate Broker I often get asked to do some rehab work on investors’ properties to ready them for sale. This year has been no exception. I started the year with a property built in the late 60s, and like most 50 year old homes it needed some updating: new counters, windows, plumbing fixtures and general cleanup and painting. A real surprise was the pipe from the house to the city sewer main which the prospective buyer had “scoped” by a local (and respected) plumbing company. They came back saying the pipe from the house to the sewer main was bad, de-laminated, with massive root invasion and just had to be replaced. Their plumbing company gave us an estimate of over $20,000 to replace the line. I hired an engineering company and they offered to change the line for a third of that price. The real kick in the head was we opened the old line… and there was NOTHING wrong with it! I was there when the backhoe uncovered it and it was it was in perfect condition. No collapsed or broken sections and water flowed at full force through the entire pipe! I am telling you this so you know that you must be there when they “scope” the line and see it for yourself. There are some major plumbing companies that are preying on the public and during a sales transaction most sellers want to please the buyers. Do not just trust a company just because they are large, have a fancy truck or show you a video from who knows when. Continue…

Santa Maria, Orcutt & Central Coast News

Record 57 Million Americans Living in Multi-Generational Households

Source: Wall St. Journal

A record 57 million Americans—or 18.1 percent of the population—lived in multi-generational households in 2012, according to an analysis of Census data by the Pew Research Center. Overall, the share of Americans living in multi-generational households continues to climb, and the recession accelerated the trend. Making sense of the story The number of multi-generational households has doubled since 1980. The arrangement of having multiple generations together under one roof spiked during the Great Recession of 2007-2009 and has kept growing in the post-recession period, albeit at a slower. Young adults ages 25 to 34 have been a major component of the growth in the population living with multiple generations since 1980—and especially since 2010. Continue…

Central Coast Real Estate Values

offers_above_asking_priceReal Estate values on the Central Coast.

Over the last few years while the bubble was bursting and everyone’s home value plummeted, the issue of how to place monetary value on a home came front and center. Appraisers whose job it was to estimate those pre-bubble values were assailed daily for making a valiant attempt to keep up with market conditions. Prices were changing every day and almost daily they would have to adjust their mathematical formulae. It was a daunting task to say the least.
Fast forward to today’s Central Coast Real Estate Values and marketplace: The Feds, in their infinite (sic) wisdom, decided to set arbitrary conditions and limitations on how this industry was going to operate. Like most knee-jerk reactions by our members in Congress this was done with good intent but did not have the desired result. This law, The Dodd-Frank Interim Rule on Real Estate Appraisal Requirements hamstrung appraisers and stopped most, if not all home appreciation in its tracks. Since that time homeowners and Real Estate professionals have struggled, applying more realistic values based on supply and demand principles. They soon found other methods, such as using the CPI (Consumer Price Index), for instance, does not work for all homes in all neighborhoods. Every home is unique and as such has potentially different values. The only way forward was the willingness of the population to drag the market values up by offering over asking price or appraised values. The chart above proves that point. This method to increase values takes a firm resolve by the buyers who perceive value as what it is worth to them at a given time for a desired product. Home inventories are still very low and demand is still high which is driving values higher. Many of our transactions exceed appraised value based on this understanding, not CPI. Continue…