Michael E. Anderson
Michael E. Anderson
Broker Assoc. ABR, RSPS DRE# 01417114
(805) 698 - 3770
Anderson Home Pros Real Estate

Orcutt, Ca 93455
(805) 698-3770

National Real Estate News

 

As you read this current report on the National Home ownership, please keep in mind that the real data is based on local conditions. No matter if you are looking for Orcutt Real Estate, Santa Maria Real Estate, Nipomo, Arroyo Grande or San Luis Obispo Real Estate the market will be different. Always consult your local Central Coast agent to find out exactly what your neighborhood is doing.

Inventory shortages push homeownership further out of reach Source: HousingWire

A lack of housing inventory continues to stifle the housing market, making it difficult for potential homeowners to get on the property ladder, according to the latest quarterly report from the National Association of REALTORS® (NAR).

Making sense of the story: The median existing single-family home price increased in 81 percent of measured markets. The NAR report cited that 145 out of 1791 metropolitan statistical areas (MSAs) had gains based on closings in the fourth quarter compared with the fourth quarter of 2014.

There were slightly fewer rising markets in the fourth quarter compared to the third quarter, when price gains were recorded in 87 percent of metro areas. “Without a significant ramp-up in new home construction and more homeowners listing their homes for sale, buyers are likely to see little relief in the form of slowing price growth in the months ahead,” said Lawrence Yun, NAR chief economist. Continue…

Central Coast Housing Predictions For 2016

My last two blogs have focused on El Nino and how to prepare for rain on the Central Coast. As with most predictions there are many factors to consider. Interest rates are going up albeit slightly, home availability is shrinking which places added stress on the market. El Nino may cause two or three months of slow home sales. None of these are truly significant when looked at separately but combined will make the statistics at year end seem like it was a troublesome year. Here are some predictions on the topic from Freddie Mac which share their opinions yearly.

Here are the five predictions for 2016 from the mortgage giant:

1. The 30-year fixed-rate mortgage will likely average below 4.5 percent for 2016 on an annualized basis.
2. Mortgage rates will gradually move higher posing an affordability challenge. But expect a strengthening labor market and pent-up demand to carry momentum into 2016.
3. Home prices will likely moderate slightly to 4.4 percent in 2016, driven in part by the reduction in home buyer affordability and reduced demand as a result of Fed tightening.
4. But industry activity will grow in 2016 despite monetary tightening. Expect total housing starts to increase 16 percent year-over-year and total home sales to increase 3 percent.
5. While home purchases will increase next year, higher interest rates will reduce the refinance volume pushing overall mortgage origination’s lower in 2016 than in 2015.

I agree with them but like all housing predictions it is a local issue more than national. If you want specific insight you need to trust on your “local” Real Estate professional. No matter where you are on the Central Coast it is a special place to call home. We welcome all calls regardless if you are at the beginning of your home shopping or just thinking about selling your current home. Knowledge is everything and we want you to be prepared and excited about making what may be the most significant move in your life.

What You Can Do With Rainwater!

With El Nino coming I wanted to give you a brief idea about rain water, diversion and saving.

I. Introduction

Despite what seems to be a never ending drought, it can indeed rain in California. In fact every decade or so, California experiences the weather phenomenon known as El Nino bringing rain in epic proportions.

Naturally, owners of real property may want to take precautions against the expected deluge, especially if the house sits on a slope or hill. However, altering the natural flow of rain off the property and channeling it to a lower property owner may expose the upper property owner to claims of liability.

There is also the question as to who owns rainwater. You might think that collecting rainwater off your rooftop is your right. But it was only in 2012 that the law was changed to clearly state that no permit was needed.

Lastly, when it rains, this may affect property under contract to be sold. The question arises as to who must repair a property in escrow – the buyer or seller? Under the C.A.R. purchase agreements, it is by default the seller.

This Q&A will look at these basic questions which are bound to arise with the El Nino weather phenomenon. Continue…

Joys of the Central Coast

Central Coast

Joys of the Central Coast

Winter and early spring strolls on the Coast bring joys to people of every age. The hills green up nicely, our weather is almost always nice ( wait a day or two and those clouds will go away), and things like beach-combing, wine-tasting, shopping, and visiting the missions can delight the senses. Kids like any kind of surfing, body, wind or board, while oldsters might just want to walk the beach at Pismo or Avila Beach. The Bob Jones Trail is a nice, flat, and easy trek and starts conveniently near the Avila Barn. Buy produce and candy there and ask for directions while letting the kids pet the goats. For more nature you shouldn’t miss Oso Flaco Lake trail. It is a easy wonderful walk across the lake and to the beach.

For those with a yearning to make themselves a part of one of the coastal communities: Orcutt, Santa Maria, Nipomo, Arroyo Grande, Grover Beach, Oceano, Pismo Beach, Shell Beach or any of the other fantastic cities, now is a great time to see what is has to offer. Call Mike Anderson, AndersonHomePros.Com 805 698-3770 or email at Andersonhomepros@Gmail.com for extra great help and service