real estate information: New Loan Limits - 10/10/11 08:59 PM

Despite efforts by California Association of REALTORS and National Association of REALTORS to fight for an extension of Fannie Mae, Freddie Mac, and FHA conforming loan limits, Congress failed to extend the $729,750 loan limits and allowed them to expire Sept. 30.
This means the maximum loan amount that Fannie, Freddie, and FHA will buy or guarantee is $625,500, and anything above that amount will be non-conforming and will require a jumbo loan. These loans typically carry a higher mortgage interest rate and require a higher down payment, increasing the monthly payment, which will particularly be hard on middle-class … (0 comments)

real estate information: Keller Williams Realty Climbs to Second-Largest Real Estate Franchise in United States - 03/09/11 06:21 PM
 
 

 
According to research conducted by REAL Trends, a leading source of analysis and information in the residential real estate industry, Keller Williams® Realty Inc., is now the second-largest real estate franchise in the United States based on the total number of sales professionals, surpassing Century 21.
Keller Williams gained the number two spot with 77,672 U.S.-based associates at the end of 2010, just two years after claiming the number three spot from RE/MAX® International.  Goals are set for worldwide expansion to add 75,000 international associates.
For full details of the press release, please visit "Keller Williams Realty … (5 comments)

real estate information: Atascadero Home Sales & Prices: 2005-2009 - 11/14/10 08:17 PM
The review of home sales and sale prices in Atascadero from 2005 to 2009 showed that the median sale price declined each year since 2007; dropping from a high of $504,783 in 2006 to $331,000 in 2009.  This reflected a cummulative decrease of 40% in a 3-year period.While the number of single-family homes sold fell in 2006 and 2007, the figure picked up in the following two years, ie 2008, and 2009.  During the same two years in 2008 and 2009, the length of marketing time also declined to an average of 55 days in 2009.  These two trends are illustrated in the … (2 comments)

real estate information: Tips for a Smooth Escrow - 11/14/10 08:11 PM

Here are the top 10 tips provided by a local title/escrow company that will help to facilitate a smooth escrow and sale:-1.    Provide a completely executed legible contract - all pages should be initialed and signed.  All addendums and counters are to be initialed and signed, with all boxes checked, where appropriate.2.    Provide escrow company with all copies of reports and respective invoices that concern escrow as soon as the reports and invoices become available. Examples include pest and septic tank inspection reports.3.   Advise escrow company if a Natural Hazard Disclosure (NHD) report is to be ordered through escrow, and if so, advise name of NHD … (0 comments)

real estate information: Pismo Beach Home Sales & Prices: 2005-2009 - 11/14/10 08:08 PM
While Pismo Beach also suffered price decreases in median sale prices from $765,000 in 2005 to $620,000 in 2009, these decreases are moderate.  Compared to many cities in San Luis Obispo County that saw double-digit declines, Pismo Beach was subject to single-digit declines, beginning with 0.33% in 2005 and ending in a loss of 9% in 2009.Over the five-year period, with the exception of 2007, home sales in Pismo Beach also fell each year.  The lowest number of homes sold in the five-year period was at 91 sales in 2009.  This figure is almost down to half of what sold five years ago.
Additionally, the time … (0 comments)

real estate information: Avila Beach Home Sales & Price Review: 2005-2009 - 11/14/10 08:04 PM
Avila Beach is considered, perhaps the most sought-after beach town in San Luis Obispo County, due to its location and very limited supply of homes. Traditionally, Avila Beach has held the highest median sale price in the county.  A review of the home sales and sales prices from 2005-2009 showed that Avila Beach had not been immune to the housing crisis and financial breakdown.The median home price rose by 10% in 2006, and had dropped year over year since 2006 to a low of $631,800 in 2009.  This reflected a cummulative decrease of 32% over the four year period.  The number of homes … (0 comments)

real estate information: What does San Luis Obispo and Singapore have in common? - 11/14/10 07:57 PM
San Luis Obispo and Singapore made it to the list as the top four happiest places on earth.  According to ABC's interview with Dan Buettner who researched and published a new book, "Thrive"; Denmark and Nuevo Leon, Mexico also have the highest number of happy residents.  "Thriving is not about just being happy, but involves how one thrives day to day", the author reported.The Danes scored high in job satisfaction.  Apparently, it's not the amount of money one makes.  An annual wage of $75,000 seemed to be the cut-off point on the balance of work and time. Workers in Denmark get to take advantage of a full … (0 comments)

real estate information: Are you being "bugged"? - 09/10/08 06:06 PM
 

I attended a very educational presentation on drywood termites and fumigation today.  The presentation was given by a local pest inspector, Mark Maxwell from Key Termite Pest Control at our office meeting.
Unlike subterranean termites that live in the soil, drywood termites thrive in the wood.  The drywood termites fester, starting small in size, like the tip of your "pinky" finger, for one whole year, before they begin any action.  Between the second to fifth year, these drywood termites have festered enough to form colonies.

I am told that their different colonies are unlike us, the ActiveRainers.  They certainly do not … (2 comments)

real estate information: Wondered what termites do to wood? - 09/08/08 08:23 PM
 
At our recent MLS meeting, our local termite company, Key Termite & Pest Control  brought the following samples to show the different types of damage caused by termites and fungus.
I couldn't resist taking these photos to share with all.
 
Dampwood Termite

 
Powder Post Beetle

 
Fungus Damage

 
Subterranean Termite

 
Drywood Termite

 
Carpenter Bee

 
For information on termites and fungus damage, check out :-
1.  The Pest Structural Control Board
2.  Definition of termites.
 
(6 comments)

real estate information: Median Home Price Declined Slightly in San Luis Obispo - 09/04/08 05:11 PM
 
REVIEW OF HOME SALES & MEDIAN HOME PRICES
ON STICK-BUILT SINGLE-FAMILY HOMES IN CITY OF SAN LUIS OBISPO
(UNDER $1M)
JANUARY-JUNE 2008 VS. JANUARY-JUNE 2007
 
(0 comments)

real estate information: Property tax relief to homeowners in San Luis Obispo County - 09/03/08 05:41 PM
I have just read Sandy Keller's blog on
 "Have you had to deal with property tax increases in your area?"

and feel sorry for the homeowners in Horry County, South Carolina.  Like Horry County, a high percentage of the homes in North Coast of San Luis Obispo County (where I specialize) comprise second or vacation homes.  If there were a property tax increase of 301%, we would probably be as horrified as Sandy.
 
 
Lately, with the decline in property prices, more than 12,000 homeowners in San Luis Obispo County will face no tax increase in 2008/2009, or receive … (0 comments)

real estate information: What is an Offset Loan? - 08/25/08 09:32 AM
Does anyone knows what an offset loan is? How does it work?  Are you seeing this product being offered in your area?
Recently, a mortgage broker emailed this to me - this is an article that appeared in Money Magazine
Quote -
(Money Magazine) -- Question: I've heard that American lenders are now offering something called an offset mortgage, which is popular in the U.K. Do you think this is a good deal? - Jeffrey S. Kallas, Columbus, Ohio
Answer: It depends. Here's how it works in Britain. You get a mortgage linked to a non-interest-bearing savings account whose deposits "offset" … (1 comments)

real estate information: Astonishing Short Marketing Time in Oceano! - 08/23/08 12:27 PM

Like Pismo Beach and Nipomo, the median home price in Oceano dropped by 12% from $429,000 to $378,400 in the first half of 2008, when compared to the same period last year.  Home prices fell from $269,900 to $185,000 at the low end.  At the high end, however, homes sold higher at $810,000; $30,000 more than the same period a year ago. 
 
During the same six months in 2008, 14 single-family homes sold.  The decline at 26%, is 5 fewer homes when compared to the same period in 2007.  What's interesting is that the average number of days to … (0 comments)

real estate information: Are Home Sale Prices still Maintained in Avila Beach? - 08/23/08 12:18 PM
 
Amongst the five cities in South San Luis Obispo County, Avila Beach saw the highest decrease in median home prices in the first half of 2008.  When compared to the same period a year ago, the median home price in Avila Beach dropped by 18% from $902,500 to $740,000.  
 
As noted above, the low end of the price range on stick-built single-family homes start at $825,000 in this area.  Since the report covers only four sales in the first six months of 2008, versus two sales in the first half of 2007 on properties priced under $1M, the low … (0 comments)

real estate information: Templeton also suffers a double-digit decline - 08/22/08 07:29 PM

 
Among the three established communities in North San Luis Obispo County, Templeton's median home prices on stick-built single-family residences declined the least, by 14% from $587,000 to $503,000 in the first half of 2008 when compared to the same period in 2007.
Home sales on these properties dropped by 19% from 43 to 35 during the first six months of 2008 versus the same period a year ago.  Sellers also faced a slightly longer time to sell their homes between January-June 2008 versus the same six months in 2007.  In the first half of 2008, homes sat for 116 days; an additional … (1 comments)

 
Sherry Peckhoon Sim, Broker/Owner, Covering the Beautiful Central Coast (Sims & Company)

Sherry Peckhoon Sim

Broker/Owner, Covering the Beautiful Central Coast

Cayucos, CA

More about me…

Sims & Company

Address: 299 Cayucos Drive, Suite B, Cayucos, CA, 93430

Office: (805) 233-4315

Mobile: (805) 234-4315

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