Team Sweasey's Real Estate Blog

Aug. 6, 2020

Virtual Tour: 304 Longview Ln, San Luis Obispo 93405

Beautiful views of Bishop's Peak and the surrounding hills from the living room and multiple decks of this stunning 5 bedroom 3 bath home. Featuring vaulted wood plank and beamed ceilings with floor to ceiling windows, 2 fireplaces, a sauna, wine cellar and newly re-cemented driveway. Newly remodeled foyer and staircases featuring Brazilian hardwood flooring. The kitchen with 2 solar light tubes to bring in natural light, opens to the family room with direct access to the back deck with lush vegetation offering privacy and the ideal location to enjoy family gatherings or quiet get-togethers. Three of the five bedrooms are situated on the main level including the spacious master bedroom and recently remodeled master bath with new flooring, tile, shower enclosure, toilet and fixtures. Enjoy fabulous sunsets from the private balcony off the master suite. All 3 bedrooms on the main level share access to the sauna and the back deck. The lower level features two additional guest rooms with a full bath in between. Just a few more steps down to the wine cellar with built in shelving and bar. The attached 2 car garage features an elevator, laundry area, high ceiling and windows adding light plus ample room for storage. Great Cal Poly rental opportunity, just a couple of blocks from campus and just a few minutes to downtown San Luis Obispo.

Click here for more details.

Aug. 4, 2020

Video Tour - 880 Climbing Tree Lane, Templeton 93465

Templeton Valley Farms is an established organic farm with a 60 member CSA, commercial accounts and a retail farm stand. Located in the heart of the Paso Robles wine country and selling to some of the finest wineries. A fully developed 5 acre farm with 200 producing fruit trees, blackberries and raspberries, 10 producing honey bee hives, 50+ laying hens, and heaps of row crops. The farm is completely deer fenced, has a 70 gpm well, new redwood barn, walk in cooler, 18' x 36 ' tractor shed and a fully established automated irrigation system. A 4,000 s/f hoop house extends the growing season for warm weather crops and the berries are under hoops as well. The owners are retiring but will be available to help run the farm for a few months to make a smooth transition. The farm has a dedicated established customer base and is a turn key operation. The farm is offered as a going concern with the real estate, business, web sites, and all of the equipment. There are 3 tractors, a side by side, quad, many implements, seeders and all the hand tools.

Click here for more details and contact us on 805-781-3750.

July 22, 2020

Virtual Tour - 1526 Mill Street, San Luis Obispo 93401

A great investment opportunity within walking distance to Cal Poly and downtown San Luis Obispo. Featuring 5 bedrooms, 3 bathrooms, a large living room and a charming bright sunroom! This 2-story property boasts a 7500 square foot lot with plenty of room to add an additional dwelling unit. Covered parking and spacious storage room off carport. Numerous of upgrades including foundation work, newer windows, roof and more. Currently leased through June at $5100/month.

Click here to find out more.

July 21, 2020

What Should You Know About Our Midsummer Market?

What’s the latest news from our San Luis Obispo market as we make our way through July?

Before I get into that, I first want to say thank you to all of our great clients for all of your referrals and five-star online reviews of our team. We have so many people outside of the San Luis Obispo area coming to us for their buying and selling needs, and it means a lot to us. We’re always grateful for the support you’ve given our team.

Now, much like what I mentioned in my last market report, available homes for sale are down about 30% compared to where we were last year. This is one of the lowest inventory levels I’ve ever seen. Pending sales, on the other hand, are up 10%. We’re on track to see about 340 homes coming off of the market by the end of July and 250 coming on the market.

In other news, interest rates are now below 3%. Not to sound cavalier, but these are historically, once-in-a-lifetime low rates, and that benefits everyone in the market.

If you’re thinking of buying a home, there are a couple of critically important points to remember. First, if you make an offer on a new home that’s less than the listing price, you’ll probably lose out on that home. That’s why we’re coaching our clients to make competitive offers—meaning have a strong price, fewer contingencies, and firm qualifications.

This is key because sellers have plenty of options right now. Eight of the last nine homes my team and I have put on the market attracted multiple offers. Bidding wars are the norm, so bring your A game and listen to your agent.

If you’re a seller in this market—where buyers are coming to you—the name of the game is fine-tuning the negotiation aspect of the transaction and being prepared. Spend a little bit of money for a termite inspection, a little bit more for a home inspection, and have that information handy so you can present it to your buyers. When they make their offer, they’ll have to accept the condition of the property. This way, you’re not negotiating two or three weeks later when they do their own inspection. You’ll save a lot of money and many headaches.

As always, if you have more questions about our San Luis Obispo market or there’s anything I can help you with, don’t hesitate to reach out to me. I look forward to hearing from you.

July 17, 2020

Virtual Tour - 5555 Shooting Star Lane, Avila Beach, CA 93424

Welcome to the Treehouse. This stunning, custom-built 3 bedroom 2.5 bath home is nestled among majestic three-hundred-year-old oak trees, with no immediate neighbors, in the ultimate private setting behind the gates of the San Luis Bay Estates in the community of Kingfisher Canyon. The main level boasts an open floor plan from the dining room through to the chef’s kitchen with top of the line appliances, to the living room, powder room and master suite, with every window showcasing fabulous views of the surrounding trees. The earth tones in the granite counter tops and the warmth of the Brazilian hardwood flooring and custom cabinetry integrate the interior with the surrounding nature. The living room features surround sound and fireplace with stone hearth and accesses the private deck where you can enjoy the Treehouse atmosphere with views of the oak covered hills all the way to the ocean. The lower level features 2 bedrooms separated by a cozy family room/den. The spacious garage features an EV charger and plenty of storage including racks for bicycles and surfboards. Beautifully landscaped with low-maintenance native plants and automated irrigation system. With great hiking and biking trails and just minutes to beautiful Avila Beach, the Treehouse is the ideal primary residence, second home, or income-producing property.

Click here to find out more.

July 8, 2020

Virtual Tour - 1930 Solana Court, Grover Beach 93433

Immaculate and move in ready featuring beautiful laminate wood floors throughout, including the kitchen with newer stainless gas stove and dishwasher, and the living room with cozy fireplace. The bathrooms feature newer vanities, sink fixtures, and updated shower doors. New drought tolerant landscaping with drip irrigation, professionally installed artificial turf, stamped, colored sidewalk to the front entry way, low maintenance backyard with artificial lawn and patio cover, ideal for relaxing BBQ's with family and friends. The spacious garage features newer cabinet garage storage system with sprayed epoxy flooring, and a drop ladder for additional storage in the rafters. Recently installed Quiet Cool whole house fan system cools the house quickly on those warmer days. Located near parks, schools, shopping and just minutes to the Beach!

Click here for more details.

July 8, 2020

A July Real Estate Market Update for You

It’s time for our July market update. What a crazy time it is at the halfway point of the year. Today I’m going to cover what’s happening in the market right now, where people are moving, and a solution for frustrated homebuyers.

In the San Luis Obispo real estate market, we had 808 homes for sale at this time last year. Right now, we have just 541 of them. That’s a 33% decrease in inventory that’s creating our “tight” market.

At the same time, pending sales are up by almost 20%. Fewer homes are available, but more homes are selling. We have fewer homes coming off the market than are leaving it, which is continuing the trend of a tightening market.

When I talked to you a few weeks ago, I told you that I was seeing homebuyers lock in interest rates in the 3% range. Now, I’ve been seeing people lock in rates at 2.75% for a 30-year fixed loan with no points. The market is hot; what else can we say?

Where are all the buyers coming from? For lack of a better word, I’ll use the term de-urbanizing. We have people from larger cities like San Francisco and Los Angeles coming here because they want more space. At the same time, people who already live in SLO are moving to places like Oregon, Idaho, and Utah.

What that means for us is that we need to focus on our efforts to connect buyers and sellers. I have clients moving out of town, moving closer to family, etc., and their homes are great fits for some of the buyers I’m working with from these larger cities. If you have family or friends who are making a move and you’re not sure where to reach out, call us. We have a network of great agents all around the country, with which we’d be happy to connect you.

Finally, many homebuyers are frustrated with the prospects of having to sell their current home before buying a new one. To help alleviate some stress, we now have a guaranteed purchase program. It allows you to have a standing offer on your property so you don’t have to wait to find your dream home. Selling your home with our program will allow us to make you a strong cash buyer. Reach out to us if you want to learn more about our program and how it works.

If you have any other questions for me about the market or real estate in general, don’t hesitate to reach out via phone or email. I look forward to hearing from you.

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.