It's a new year with new resolutions, but the same old housing market. Still lots of inventory, prices definitely lower than 2 years ago, interest rates around 6.25% (but may go up to 6.50% later in the year). What a great time to buy your piece of paradise! The news media has been inundating us with good news-bad news regarding the market. One day it's good, the median sales price grows, the next its bad, sales are down 34% for the year. The media has been blamed by some, for the downturn in the housing markets, but most people don't really believe that. Historically there are ups and downs and the last up period lasted around 10 years, so we were due for a bit of a "price correction". Investors, who were "flipping" properties by purchasing, painting and selling again have been absent in the past year, but are starting to look again, as coastal properties are considered a "bargain" with the recent downturn in prices and still low interest rates. The baby boom generation, with thoughts of purchasing retirement homes on the coast will keep our market healthy. So as I said earlier, now really is the time to buy!
For Your Information
"Shop, Stay and Play in Morro Bay". It's a great new slogan for the transformation of Morro Bay from a "little fishing village," to a tourism destination. Our commercial fishing industry has been undermined with so much regulation that it's hard to earn enough to keep fishing boats based here. What's a small oceanfront city to do to reinvent itself and lure extra tourist dollars to supplement its income? Promote more tourism of course. A friend who purchased a home from me 15 years ago, included a cryptic statement in his annual Xmas newsletter in ‘06 that he and his family are "somewhat appalled" at the Morro Bay home prices in an area that's "basically has a 2 month tourist season." Well, Morro Bay is attempting to change that image and has slowly been increasing the number of special events held throughout the year in hopes of drawing in those tourist dollars. The Morro Bay Chamber of Commerce and city officials have been trying to encourage resident to welcome tourists with "we ‘heart' tourist" buttons, and the new slogan with a new billboard on Hwy 1. There are some new events scheduled, like a Texas Hold ‘Em tournament in February, an April Kite Festival, a Jazz Festival in May, an Avocado and Margarita Festival in September, surfing contests in October and a wine & chocolate showcase in December. Some of the events may become annual tourism boosters and some may be one time duds, but is shows that our little city is willing to try new ideas to lure that tourist dollar to the city's coffers.
He said, she said...they said, we said. When put in these terms, the Los Osos sewer saga takes on a Dr. Seus-like feel. 2006 was a roller coaster ride for LO citizens, ending the way it began with lawsuits aplenty and lawyers a-happy, citizens without sewers and 50 with out the use of their toilets (almost). A CSD in turmoil, with some citizens attempting to dissolve it at the beginning of the year then at the end of the year, they were trying to dissolve themselves. (In septic issues "Rid-X" is thought to help.) Spring brought a new contract to explore sewer locations and Sam Blakeslee's Assembly bill to keep the rest of the County from having to pay for the LO sewer. SLOCO took over the project. However, all was not rosy. Bankruptcy beckoned and lawyers blossomed. The CSD, LO property owners and the County must all agree about the sewer site and plant design in order for a sewer to be built. The CSD is pushing to sell the current site to a developer to help get itself out of bankruptcy, although the County disagrees and wants all of its sewer site options available to choose from. If the majority of all parties don't agree on the plan, the State will eventually (maybe another 30 years?) take over the project and won't be too concerned about hurt feelings or property owner costs. The saga continues...
Enough is enough! How about some useless facts to make you smile? "A goldfish has a memory span of three seconds." (How do they test that!) "Elephants are the only animals that can't jump" (Thank goodness!) "There are more chickens than people in the world." (Good thing, since we eat them - they don't eat us!).
Upcoming Local Events
Movie fans take note! If you missed the Santa Barbara Film Festival take heart, the SLO International Film festival is scheduled 3/1-3/11 at various venues in SLO. Call 546-3456 for films and locations of events.
If you enjoy bird songs, check out the "Gospel Hummingbirds" a fabulous rhythm and gospel music group performing at the PAC on 4/6 at 8:00PM. Call the PAC for tickets.
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