The Holidays

We are fast approaching Thanksgiving...and then onto the December holidays. Many people don't like to put their houses on the market or shop for a house during this time of year, but that doesn't mean houses aren't being sold or put on the market. In particular, banks don't really care what time of year their homes go on the market, because they know people will always look for a good deal. So this is still a great time to shop for an REO. Short sales are often the same...at the holidays, a lot of owners realize they can't make their payments anymore and stop paying their mortgages. They proceed to get an NOD and then must do a short sale. This happens every week of the year without fail. If you are looking for a great deal, don't stop looking just because of the holidays. We can usually arrange for the escrow to close at a convenient date to you, so if you don't want to move in until Jan, that can be stipulated in the contract.

SLO County Real Estate Environment

As a realtor, any time I run into someone or meet them new for the first time, their question to me is always: "and how's the market?" So I thought I'd keep a running answer here for people.

Right now business seems to be picking up. There are still properties that are dropping in price, and REOs and short sales coming on the market all the time to mess with prices. But we are also starting to see multiple offers on properties (not just REOs and short sales), and the inventory is down which puts seller's in a better position than before.

However, seasonally this isn't traditionally the busiest time of year for real estate anywhere. That doesn't mean sales aren't happening, far from it in fact, but the holidays are a time when people want to entertain, not move.