Newsletter

SLO County Market Update / Bank Failures & Real Estate The beginning of March brought about three bank failures within a week. Many people wonder if these collapses will trigger volatility in the real estate market as well. What Happened: The first bank to fall was Silvergate, based out of La Jolla, CA. It had highly invested in cryptocurrencies (which are not marketable securities) and...

SLO County Market Update / Tax Extensions Granted to SLO County Residents President Biden and Governor Newsom declared a state of emergency throughout California in response to the recent winter storms. These declarations mean residents and businesses in San Luis Obispo County who have been affected by severe winter storms, flooding, and mudslides are eligible for tax relief. Any “affected...

SLO County Market Update / 2023 Real Estate Projection As Realtors®, it’s our job to stay on top of real estate news and inform our clients when risk or opportunity are present in the market. With the fluctuation of interest rates, inflation hitting consumer’s pocketbooks and a nation cautiously attempting to sidestep a recession; there are too many factors to comfortably promise anything. We...

SLO County Market Update / New Real Estate Laws for 2023 With the turn of the new year, California implemented a slew of new laws regarding real estate. We’ve summarized them for you below. For more information or to read the full text, please visit www.leginfo.legislature.ca.gov.   LAWS EFFECTIVE JANUARY 1ST, 2023: AB 916: Prohibits a city or county legislative body from requiring a public...

SLO County Market Update / This Relocation Nation More than 1 in 4 (26%) Americans moved to a new state in the last five years and of those that chose not to move, 63% said they considered it. The top factor motivating Americans to move is work (33%) followed by a desire to be closer to family (25%). A lower cost of living came in third with 23%. Other reasons include a simple desire to live in a new...

SLO County Market Update / Senate Bill 1383 - statewide greenhouse gas emission reduction goal In 2016, Governor Jerry Brown signed Senate Bill 1383 into law, creating statewide greenhouse gas emission reduction goals. The law would roll out slowly over the course of several years with established dates for each action step trickling out until January 1st, 2025, where it would then be in full-effect....

SLO County Market Update  / Combating Inflation with Rising Rates Given the past few years; a world-wide pandemic, skyrocketing home prices, rising fuel costs, record-breaking lumber price tags, a brand new war.... we would never dream of trying to predict what may happen with the current interest rate hikes. However, here’s what we’ve found the experts are saying. The Goal: The Fed’s...

SLO County Market Update / Electricity In The News Amid record-breaking heat waves, the news has been buzzing with policies meant to combat climate change. Whether it’s immediate flex alerts or legislation intended to go into effect over the coming years, all Californians will be feeling the heat regarding these new commitments. Electricity is seen as the key to carbon neutrality and we’ve summarized...

SLO County Market Update / SLO’s Inclusionary Housing Ordinance Update On July 19th, San Luis Obispo’s City Council introduced two ordinances as part of an equitable-development strategy to address affordable-housing needs. Final adoption is scheduled for August 16th and they will go into effect after September 25th. Here’s a quick summary for better understanding.   Inclusionary...

SLO County Market Update / Types of Mortgages The first step for any potential homebuyer, is finding the loan that works best for their specific situation. Understanding your options and finding a mortgage professional to guide you through the process is a critical step in the biggest financial decision many people will ever make; buying a home.   Fixed Rate Mortgage A fixed-rate mortgage is...