Inventories Down 36% In Orange County California - 02/29/12 07:43 AM
I read an interesting article in the Orange County Register by a Prudential California Realty agent Dennis Bode.  He wrote that in Orange County they have seen a 36% drop in inventory.  Here in the San Luis Obispo County real estate market we have seen the same decrease.  Here is a link to his article-
http://www.ocregister.com/news/price-342231-sale-expensive.html
I have been pointing out on my blog that we are seeing  the same decrease in inventories.  Please see the graph below that shows this.  I have been identifying more "green shoots" almost daily that shows there is a slow change from the buyer's market … (0 comments)

San Luis Obispo Real Estate Daily Mortgage Update 2/27/2012 - 02/27/12 10:48 PM
Hello all!  Here is today's mortgage update brought to us by Bob Franklin at Wells Fargo Home Mortgage from the beautiful city of Pismo Beach California, "Where the surf is always up!  And the people are always friendly!"  So here's Bob-

The Week Ahead: Moderate Econ, Bernanke Testimony, Another ECB Mass-Refinance
 
Today: Pending Home Sales Rise 2.0 pct in December, The Pending Home Sales Index hit it's highest level since April 2010, rising 2.0% to 97.0 in January from a downwardly revised 95.1 in December (previously 96.6). Economists surveyed by Reuters expected today's index to rise at … (0 comments)

Shea Homes Introduce New Homes At My Favorite Golf Resort/Spa on the Central Coast - 02/27/12 09:14 AM
As many of my readers know, my favorite Central Coast golf resort/spa is the Trilogy at Monach Dunes located here in San Luis Obispo County in Nipomo. The life style and the club house and spa are 5 Star in my book.  That's why I call it "golfer's and spa heaven!"  I wrote a blog review of the resort and you can read it at the link below-
http://activerain.com/blogsview/2768539/golfer-s-paradise-homes-with-5-star-resort-right-here-in-san-luis-obispo-county
Well now Shea Homes has out done itself.  They have introduced 2 new models starting at $349,990 for the 1,428 sq. ft. model.  If you want something bigger Shea has 14 floor plans … (0 comments)

Warren Buffett Said Housing a Better Buy Than Stocks - 02/27/12 08:49 AM
As you know I have been a housing market "bull" for the past several months due to all the "green shoots" I see sprouting up all around us here in the San Luis Obispo real estate market.  Well here is another one!  Today on this sunny Monday I heard an interview with Warren Buffett by Becky Quick on CNBC's Squawk Box.  In there exchange Warren came out and said he too was "bullish" on the residential housing market.  He said he thought that buying a single family residence at 4% interest rate and holding it 4-5 years was a better investment … (1 comments)

Housing Inventories Down Across the Entire U.S. - 02/26/12 08:05 PM
Here in the San Luis Obispo real estate market we have noticed a decrease in inventories across all segments of the market with the exception of the high end market.  As many of you know, I have pointed out any "green shoots" I have notice sprout up.  Well here is one of the best written articles about the changing U.S. housing market I have read.  It is from the Wall Street Journal's Nick Timiraos.  It points out in the major U.S. metro areas all but one of the 146 markets tracked by Realtor.com had fewer homes listed than one year earlier, with Springfield, … (1 comments)

The Mortgage Rate Update for 2/24/2012 - 02/24/12 08:48 AM
Hello to all my loyal blog readers.  I have today's updates for the mortgage rate for San Luis Obispo real estate brought to us by Bob Franklin at Wells Fargo Home Mortgage from the beautiful city of Pismo Beach California, "Where the surf is always up!  And the people are always friendly!"  Here is today's update-
The Day Ahead: Some Economic Data, Greek PSI
        Consumer Sentiment Revised Slightly Higher, FINAL FEBRUARY 75.3 (CONSENSUS 73.0) VS PRELIMINARY FEBRUARY 72.5. New Home Sales Fall 0.9% In January, they were at a seasonally adjusted annual rate of 321,000, This is 0.9 percent below … (0 comments)

Why Are There So Many Buyers Entering the Housing Market? - 02/23/12 09:13 AM
What we are seeing now in the San Luis Obispo housing market is actually a national trend.  Why are we seeing  many more buyers coming into the housing market? Low prices!  House prices are at a 10 year low! We have seen a 50% increase in buyer demand at our web site www.myslohomefinder.com  As the housing prices drop, you get more demand. If a home isn't selling, the main reason for this is price.  Below you will find a chart from that sums everything up.  Thank you  CNN for this great chart. 

To read more about housing prices being at a … (0 comments)

Today's San Luis Obispo Mortgage Rate Update for 2/23/2012 - 02/23/12 08:35 AM
Top of the morning to you all!  Our favorite loan agent Bob Franklin at Wells Fargo Home Mortgage in the beautiful city of Pismo Beach California, "Where the surf is always up!" gives us his daily update.  And the people are always friendly!"  One of my clients that recently bought a house used Bob for his loan.  I asked Al what he thought of Bob's service, and he had a one word response, "Bob is awesome!"  Need I say more!  So here's Bob-
 The Day Ahead: Jobless Claims, House Prices
        JOBLESS CLAIMS UNCHANGED AT 351,000 FEB 18 WEEK (CONSENSUS 354,000) … (0 comments)

Your San Luis Obispo Mortgage Update for 2/22/2012 - 02/22/12 11:03 AM
Good morning to all!  I have today's San Luis Obispo Mortgage update for today.  This update is brought to you by Bob Franklin at Wells Fargo Home Mortgage located in the beautifull city by the beach Pismo Beach California, "Where the surf is always up! And the people are always friendly!".  Visit my web site at www.myslohomefinder.com to find that special home here in the Central Coast.
 
The Day Ahead: Existing Home Sales and Week's Most Important Auction        Existing-Home Sales Rise Again in January, Inventory Down, total existing-home sales1, which are completed transactions that include single-family homes, townhomes, condominiums and … (0 comments)

Today's Mortgage Update and a New Listing for 2/21/2012 - 02/21/12 10:36 AM
Good morning all!  I hope everyone had a great three days off!  I was busy showing homes and I took a new listing!  It's a beautiful place on 9.5 acres on a hill overlooking the picturesque country side.  The almond trees are blooming and it's gorgeous!  It would make someone a super bed and breakfast.  It has a rock pool with a waterfall, and over 4300 sq. ft.  See pictures below. 
We here is Bob Franklin at Wells Fargo Home Mortgage with the daily San Luis Obispo real estate mortgage update.  Bob is located in the pretty city of Pismo Beach … (0 comments)

Yet Another "Green Shoot" Pops Up On My Radar Screen - 02/21/12 07:38 AM
Good morning to all!  As many of you know, I was a bear on the housing market starting at the end of 2005, and I sold my San Luis Obispo real estate holdings by the middle of 2006.  What did I see at this time?  A huge bubble driven by speculation, cheap money going to non credit worthy borrowers, and the true believers that thought "housing will never go down".  These true believers followed the investor psychology which is much more "herd mentality" than logical.  You see this at marker tops.  However, at market bottoms you see the "herd mentality" that … (1 comments)

Is The Houing Market A Buy Or Is There More Room To Fall? - 02/20/12 01:04 PM
I'm am a full time real estate agent here in the San Luis Obispo California real estate market.  As my loyal blog followers know, I have been very bullish on the real estate market here.  I have notice many "green shoots" sprouting up all over the place.  I have written extensively about these in my earlier blogs.  Well here is a great video by Charlie Blaine a reporter for MSN Money.  Please watch it at the following link-
http://money.msn.com/top-stocks/video.aspx?vid=7d87f027-06a9-1f67-a147-17ba78804172&?from=en-us_msnhp
 
I always try to keep you inform!  When more "green shoots appear I will feature them on this blog or at … (0 comments)

Average New Monthly Mortgage Payment in Southern California Is $983 a Month - 02/18/12 07:55 AM
As a market observer and an advocate of market timing, I have been scanning the headlines for evidence of the appearance of "green shoots" in the San Luis Obispo real estate market.  Sometimes I have to broaden my scan to the state and national scene.  I came across an excellent article posted on a well written blog DR. Housing Bubble.  In the article the author points out that the average monthly new mortgage payment is $983.  This is the lowest amount since 1999!  Most of my loyal blog readers know that one of my main points that we are seeing the housing … (0 comments)

Mortgage Rates at Record Lows for San Luis Obispo Real Estate Buyers 2/17/2012 - 02/17/12 10:37 AM
Good morning to all!  Here is Bob's mortgage update for San Luis Obispo real estate-
 
The Day Ahead: Data Offerings Lack Punch to Offset Looming EU Vote
         Consumer Price Index in Line With Expectations, CPI +0.2 PCT (+0.2079; CONSENSUS +0.3 PCT), EX-FOOD/ENERGY +0.2 PCT (+0.2183; CONS +0.2 PCT). Markets are waiting for the Eurogroup that will be reconvening on Monday Feb 20th (a domestic market holiday)to hopefully to hold another vote on the Greek bailout.Dow is trading at 12,920.89 +16.81 and the 10 yr bond is at 2.02% from 1.96% Yesterday, . Currently mortgages are worse from Yesterday Conv.- … (0 comments)

Both JP Morgan and Morgan Stanley Officials Say U.S. Housing Market At Bottom - 02/17/12 09:06 AM
Good morning to all!  Being an early riser, I was watching my favorite business news sources CNBC "Squawk on the Streets" they had two great interviews with housing pundits.  The first interview was with Frank Bisignano from JP Morgan.  Frank was works for  Jamie Dimon, one smart guy, and Frank is in charge of the real estate arm of JP Morgan Chase.  His title is the Chief Administrative Officer in charge of  supervision of Chase's mortgage origination and loan payment.  Frank said in the interview he thinks that we are at a bottom in the housing market, and this was the "year of stabilization" … (0 comments)

With Rising Sales and Lower Inventory We Are Seeing the Market Change - 02/16/12 06:02 PM
With the buyers and investors increasing in the San Luis Obispo market, we are not alone.  In many parts of the country there is a decrease in inventories and stabilization of prices.  If your mortgage and other costs are lower than your rent, especially if you figure in tax savings due to mortgage interest and property tax deductions, it is a no brainer to buy.  Then you add the interest rates for a 30 year at 3.75%, it is time to buy now!  Please read the following article from a very good web site Property Wire that elaborates more on the … (1 comments)

Mortgage Rate Update San Luis Obispo County 2/16/2012 - 02/16/12 05:39 PM
Good afternoon!  I have another mortgage update from from Bob Franklin at Wells Fargo Home Mortgage here in the beautiful city of Pismo Beach California, "Where the surf is always up!  And the people are always friendly!
If you want to check out my web site go to- www.myslohomefinder.com
 
"

The Day Ahead: Digesting Greek Bailout Raincheck Amid Active Econ Calendar
        Jobless Claims Lower Than Expected, CLAIMS FELL TO 348,000 FEB 11 WEEK (CONSENSUS 365,000) FROM 361,000 PRIOR WEEK (PREVIOUS 358,000).  PPI Lower Than Expected, Core PPI Higher, PPI +0.1 PCT (CONSENSUS +0.4 PCT), VS DEC -0.1 … (0 comments)

Our Mortgage Rate Update for San Luis Obispo County California 2/15/2012 - 02/15/12 12:11 PM
The very best to all our loyal readers!  I have to apologize for a delay in yesterdays update. I received several calls about it.  Since we have been extremely busy with real estate showings and listings, I ran a little late.  But my customers come first!  Visit my web site to fill all of your San Luis Obispo real estate needs www.myslohomfinder.com
So here is today's mortgage rate update from Bob Franklin at Wells Fargo Home Mortgage located in the beautiful city by the sea, Pismo Beach California, "Where the surf is always up!  And the people are always friendly!".
 
… (0 comments)

This Chart Sums Up the Whole Housing Mess! Check Out Your City! - 02/15/12 11:45 AM
As many of you know I have been saying for months that I saw "green shoots" all around us that the San Luis Obispo Real Estate market was turning around.  I found one of the best nation wide charts that shows what happened to individual cities from the top of the market in 2006 to today.  It is interesting to see what cities were the most hit by the housing crash.  Check out Sacramento, Las Vegas, Phoenix and the cities of Tampa and Orlando in the beautiful state of Florida.  Rather shocking!  The only cities that are up from 2006-2012 are Oklahoma City, Little Rock, … (2 comments)

Today's Mortgage Update for San Luis Obispo Real Estate 2/14/2012 - 02/14/12 03:20 PM
Good morning all!  Here is today's mortgage rate up date from Bob Franklin at Wells Fargo Home Mortgage located in the pretty city of Pismo Beach California, "Where the surf is always up!  And the people are always friendly!".
The Day Ahead: Retail Sales , Import and Export prices, Business Inventories
        Retail Sales Weaker Than Expected, retail and food services sales for January, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $401.4 billion, an increase of 0.4 % from the previous month and 5.8 % above January 2011. Total sales for the November … (0 comments)

Time To Buy A Rental? - 02/14/12 02:23 AM
Is it time to buy a rental here in the San Luis Obispo real estate market?  Large numbers of investor are betting on it. I just had a great client that wants to by a triplex or 4 plex.  Her idea is to live in one, and then rent out the others.  She explained to me that with rent going  up at 4.7% annually eventually the increase in rent would pay here mortgage.  She wasn't afraid of dealing with tenants.  She looked forward to it.  She saw buying a home as an investment.  At first when I thought about what she … (4 comments)

San Luis Obispo Real Estate Current Mortgage Rate Update 2/13/2012 - 02/13/12 11:04 AM
Top of the morning to all!  I have included the mortgage rate update for the San Luis Obispo real estate market.  To see homes for sale here, please check out my web site at-  www.myslohomefinder.com
Bob Franklin, my favorite loan officer, at Wells Fargo Home Mortgage in the beautiful city of Pismo Beach, California, "Where the surf is always up!  And people are always friendly", gives us the following update of the current loan rates and what's up with the week ahead-
The Week Ahead: Domestic Data, Possible Greek Bailout Approval
        Greek parliament voted to approve the austerity measures requisite … (0 comments)

If We Are At A Housing Bottom? Will We See A Sharp Increase In Prices Off The Bottom - 02/13/12 10:47 AM
I am a full time real estate agent for clients for the San Luis Obispo real estate market. As many of my loyal readers know, I have been a market timer in several markets,  first the stock market and later in the housing market.  You can play the "bubble markets" to your advantage by selling or shorting at the top.  I recall a conversation with a wealthy investor and real estate developer friend in 2005.  He informed me that he went to a real estate financial adviser who specialized in projections of what the future would be so his clients could plan real … (0 comments)

Inventories Nation Wide Are Decreasing! San Luis Obispo Real Estate Inventories Decreasing Too! - 02/12/12 01:27 PM
As a full time realtor here in San Luis Obispo County, I have been following the real estate trends here  for over 30 years both as an investor and as a real estate agent.  I refer to myself as a "full time" realtor; however, in reality I work 7 days a week marketing my listings and finding homes for both families and investors.  I am starting to see a trend in our local San Luis Obispo real estate market that I haven't seen for years.  We are having trouble finding houses in the moderate to low price range. See the graph below … (2 comments)

Golfer's Paradise In San Luis Obispo County Has 2 New Models at $350,000 - 02/11/12 04:27 PM
The Trilogy Resort development located in the beautiful city of Nipomo is my favorite golf, spa, tennis and all around fun residential development in the county.  If you haven't been to it, you have to take a tour, and see the 2 new affordable models Shea Homes has just released.  The new homes price is outstanding!  As a local real estate agent, I have to tell you this is one of the best values in the county. Check out the models below-
 

 
Included in the new release are the 1,428-square-foot Zaca floor plan and the 1,565-square foot Cachuma … (0 comments)

Some More Evidence of "Green Shoots" in the Housing Market - 02/11/12 12:01 PM
I have studied the San Luis Obispo real estate market for over 30 years both as an investor and as a real estate agent.  I have seen a profound change in the market in the past 6 months.  As my long time readers know, I  have a web site- www.myslohomefinder.com and I have noticed a 50% increase in traffic to the web site, especially from buyers looking for homes in San Luis Obispo County.  I have interviewed some of these buyers.  I have placed them in different groups.  The first and most prominent are the first time buyers who want to … (2 comments)

Inflation is Coming! Inflation is Coming! - 02/11/12 03:03 AM
All the signs are there that we will at some time in the near future experience major inflation.  One of the last economic signs that we are going into inflation is the real estate market.  The real estate market has been on a downturn since the bubble years of the the 2000-2006 period.  Now we are seeing the real estate market hitting bottom, and in some areas we are seeing up swings.  With the Fed. throw all this cheap money out there, eventually we are going to see the 1970's style inflation back. 
How do you hedge against inflation?  You buy … (2 comments)

My Mortgage Rate Update for 2/10/2012 - 02/10/12 12:07 PM
Good morning all!  I have today's mortgage rate update brought to us by Bob Franklin at Wells Fargo Home Mortgage from the beautiful city of Pismo Beach California, "Where the surf is always up! And the people are always friendly!"
 
The Day Ahead: Deja Vu All Over Again For Greece, Trade Deficit, Consumer Sentiment                   Installment of Greece bailout, not until next week now. Trade Deficit In Line With Expectations. No Market Reaction DEC TRADE DEFICIT $48.80 BLN (CONSENSUS $48.00 BLN) VS NOV DEFICIT $47.06 BLN (PREV $47.75 BLN). Consumer Sentiment Slightly Lower Than Expected PRELIMINARY FEB 72.5 (CONSENSUS 74.5) … (0 comments)

Mortgage Rate Update for 2/8/2012 San Luis Obispo Real Estate - 02/08/12 11:35 AM
Good morning to all!  Time to share more mortgage rate news with all my loyal followers.  This mortgage update is brought to us by Bob Franklin at Wells Fargo Home Mortgage from the beautiful city of Pismo Beach California, "Where the surf is always up! And the people always friendly!"
Day Ahead: 10yr Auction And Another Probable Greek Deadline Miss
        There is light economic data today, only 10 yr note auction later today. The market is waiting for Jobless Claims, Wholesale inventories, and the Greek bailout negotiations tomorrow. Dow is trading at 12,881.38 +3.18 and the 10 yr bond is … (0 comments)

Foreclosures to RV Living! Is This the New America? - 02/08/12 02:42 AM
San Luis Obispo real estate has seen its share of ups and downs over the years.  But this time I think its worse!  When I was at my local gas station yesterday, I had to fill up my propane for  my barbecue.  While  I was having it filled an middle age man and woman pulled up in their 10 year old RV to have their propane tanks filled.  I asked the man, Roger I later found out, where he was from.  Roger pointed to his RV and said I'm from there.  I cracked a smile, and replied "the city of Winabego!"  … (2 comments)

Mortgage Rate Update San Luis Obispo County 2/7/2012 - 02/08/12 01:38 AM
Good morning all!  We have your mortgage rate update given to us by Bob Franklin at Wells Fargo Home Mortgage.  His office is located in the beautiful city of Pismo Beach California, "Where the surf is always up!  And the people are always friendly!" 
 
 
The Day Ahead: Relatively Insignificant Scheduled Events  
        Consumer Credit is released at 12:00 pm noon and is expected to have grown by 7.2 bln dollars after a 20.37 bln increase in the previous month. There were 3.4 million job openings on the last business day of December, up from 3.1 million in November, … (0 comments)

Mortgage Rate Update for 2/3/2012 San Luis Obispo Real Estate Plus Bonus on More Cities on Up Swing for Prices - 02/06/12 02:34 PM
Good Morning!  I have a bonus for you today.  Bob Franklin has given us his mortgage rate update for today along with great news for prices in 29 more metro areas in February.  Now 98 metro areas are considered improving markets.  Bob's report is brought to you from the beautiful city of Pismo Beach California, "Where the surf is always up!  And the people are always friendly!" Please see Bob's report below. 
The Week Ahead: Limited Data Calendar Leaves Auctions, Greece in Focus
        The list of housing markets showing measurable improvement expanded by 29 metros in February to include a … (0 comments)

Foreclosures At A 4 Year Low In Phoenix Arizona - 02/05/12 05:43 PM
San Luis Obispo Real Estate is what I follow.  I have been tracking the foreclosure numbers in other areas like Arizona and Las Vegas to look for decreases in foreclosure numbers. You can read this link about the Phoenix Arizona foreclosures decreasing here-
www.azcentral.com/business/realestate/articles/2012/02/02/20120202foreclosures-hit-year-low-metro-area.html  
 Well we have finally seen evidence that  foreclosure decreases are upon us.  As long time readers know, I have  predicted this slow down  coming.  One of the main reasons for the foreclosure mess was the ARM (Adjustable Rate Mortgage) resets that drastically increased the borrowers payments.  You can see by the chart below the number of resets will decrease … (1 comments)

Mortgage Rates at Record Lows for San Luis Obispo Real Estate Buyers - 02/04/12 12:24 PM
Is it time to buy?  Property prices are dropping, and demand is picking up.  Inventory is declining and interest rates are at record lows!  (Please see below chart showing a decline in San Luis Obispo real estate inventory.)  Is it time to buy?  You bet!  So go out there and get pre-approved, and visit my web site at www.myslohomefinder.com  so you can know the market.  Knowledge is power in this world.  The more information you have the better buyer you'll be.
When the investor psychology is extreme pessimistic, like now, it is the best time to buy.  The herd is rarely … (2 comments)

Mortgage Rate Update for 2/3/2012 San Luis Obispo Real Estate - 02/03/12 11:42 AM
Good morning!  Here is the mortgage update from Bob Franklin at Wells Fargo Home Mortgage in the beautiful city of Pismo Beach California.  "Where the surf is always up!  And the people are always friendly!"
Day Ahead: All Eyes On Employment Situation Report        Non-Farm Payrolls Crush Expectations. Positive Revisions,  Jan non-farm payrolls +243,000 (Consensus +150,000) vs Dec. +203,000, Nov. +157,000 Factory Orders Rise, but Pace Slower Than Expected, New orders for manufactured goods in December, up two consecutive months, increased $5.3 billion or 1.1 percent to $466.2 billion. This followed a 2.2 percent November increase. Excluding transportation, new orders increased 0.6 … (0 comments)

States With The Highest Appreciation and Highest Depreciation For Real Estate and Today's Mortgage Rate Report 2/2/2012 - 02/02/12 11:31 AM
Good morning to all!  As a bonus to today's mortgage rate update, Bob Franklin has added a special bonus report from Core Logic that talks about the states with the highest appreciation and highest depreciation for real estate.  This report is brought to you by Bob Franklin at Wells Fargo Home Mortgage from the beautiful city of Pismo Beach, "Where the surf is always up! And the people are always friendly".  So here is Bob's report-
The Day Ahead: Jobless Claims, Home Price Index, Appreciation in some States        Jobless Claims Slightly Lower Than Expectations, In the week ending January 28, the … (0 comments)

Mortgage Rate Update San Luis Obispo County 2/1/2012 - 02/01/12 11:49 AM
Good morning!  I have the latest mortgage rate up date from Bob Franklin at Wells Fargo Home Mortgage.  Bob is located in the beautifull city of Pismo Beach California, "Where the surf is always up, and the people are always friendly!"
 

The Day Ahead: Numerous Economic Reports, Including Controversial ADP Payrolls
        ISM Manufacturing Misses Consensus, But Continues to Rise, Economic activity in the manufacturing sector expanded in January for the 30th consecutive month, and the overall economy grew for the 32nd consecutive month. The PMI (Purchasing Managers' Index ) registered 54.1 percent, an increase of 1 percentage … (0 comments)

 
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Mike Hendrickson

San Luis Obispo, CA

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Prudential California Realty

Address: 1015 Nipomo St, Suite 100, San Luis Obispo, Ca., 93401

Office Phone: (805) 459-0074

Cell Phone: (805) 459-0074

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