Hi Everyone!
Summer is over heating the inland valleys, so cool fog is the main tourist attraction at the coast. The tourists are shivering with delight beneath their Morro Bay sweatshirts. They're just happy to be out of the heat for a while. Hopefully they are spending a bit of their hard earned dollars while they're here, since it's been a tough year for small businesses in small towns. A few tourists, as well as, myself and a few other North Morro Bay residents, were fortunate to see a pod of dolphins and even a couple of whales close to the surf line in Estero Bay. What a thrill that was! The bay is host to seals, sea lions, otters and tons of birds, but rarely do we get a glimpse of dolphins or whales. It makes me feel even more lucky, if that's possible, to live on the beautiful Central Coast. Even though home prices have lost an average of 40% of their pre-recession values, homes aren't moving very fast unless they are foreclosures. However, short sales and foreclosures have dwindled in the last 4 months or so, but National real estate pundits say there's another wave of them due to hit the market soon. I'm glad the government is attempting to help some homeowners lower their monthly loan costs, but I haven't heard of anyone being successful yet in renegotiation their loan downwards, to reflect today's home values. The county, however will reassess over-valued homes, which should help lower taxes for those who bought in the high market. Real estate is now a long term investment rather than a way of "flippin' and making a fortune," unless you can buy foreclosures and even then maybe not. Real estate is still the best "wealth builder" around as a long term investment and, unlike stocks, it gives you a roof over your head!
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