SLO named a ‘hot 15’ real estate market

May 4, 2015

houseRealtors have named the San Luis Obispo area one of the 15 hottest real estate markets in the United States. [Consumer Affairs]

The list ranks homes sales markets based on fastest turnover and most listing views. The San Luis Obispo, Paso Robles and Arroyo Grande market placed 13th.

In all, eight California locations including San Diego, San Francisco, Santa Cruz and Oxnard, Thousand Oaks and Ventura made the list.The Dallas, Fort Worth area ranked No. 1. chief economist Jonathan Smoke said all of a the locations on the list had some of the healthiest or were becoming some of the healthiest economies in the country.

California has been particularly hot over the last two years, Smoke said. During the downturn, California had more price declines and foreclosures, but it worked through the overhang quickly because it is a non-judicial state for foreclosures, he said.

Home prices have increased nationally due to a shortage of homes for sale and an increase of prospective buyers. A analysis of data from the first three weeks of April showed the median list price increased to $225,000, rising 9 percent over the previous year and 2 percent since March.


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My question is this:

What type of jobs are here on the Central Coast to support this “booming” real estate growth? Nursing care for old retirees? It’s getting REAL Old (LOL)

Seriously, I am going to demand some HUGE raises if my future is catering to old retirees who build homes near the sand, then complain about the sand…..

“ chief economist Jonathan Smoke said all of a the locations on the list had some of the healthiest or were becoming some of the healthiest economies in the country.”

From the source:

“We focused on the days on the market as a way to judge the relative health from a supply perspective,” Smoke told ConsumerAffairs. “Then we measured how many time (sic) individual listings were looked at and then calculated the average as a proxy for just how hot demand is in a market.”

So, based on how many times something was looked at. Great. How is this news or anything but a frail grasp to boost the real estate market by a real estate marketing firm? I see For Sale signs go up, places are bought, then people realize it is not an affordable place to live, then they put up the signs again. The house next to me has had six (6) owners since 1984. Six.

Hot market, for sure.

Six owners since 1984, Roy? I’ve seen that kind of turnover, but I thought it was just my certifiable personality.

Mendocino has a similar problem. People from expensive cities visit and see a beautiful landscape they can’t afford in the city. They buy, move in and find out this is not a big city with all of the advantages. They lose interest and try something else. I have had enough of the big city problems so I don’t mind the trade off.

eAnother reason why it is not necessary to pay public execs outragous salaries. There will always be the best and the brightest that already have money and want to live here.

Bingo…if the City Government Elites don’t like their PAY…leave town and do better….there is a long line of people willing to work for 40% less than you, so shut the He## up about your pay and pensions…BS

Which is EXACTLY why I am making an exit to Washington State in the next 2 years. Lots of water, lots of green and you can still get close to an acre near a major city with a decent single family home for around $175-200K. And….I love fireplaces. While I am waiting to buy–I can rent an apartment there and they nearly all have fireplaces. Why live somewhere that is turning into a non-community? This city already has some questionable political practices and I am convinced some are “on the take”. It is sort of like being in Europe though (where you have to tell them you are from Canada). They are none too fond of people from California.

So you’re planning to Californicate Washington?

Washington has lots of nice areas that are cheaper than SLO, but not all of the state has cheap real estate. You won’t get a single family home on an acre for $175-200K near near Seattle, where the county median sales price is $385,000.

How close to a major city and how major a city? The Longview-Kelso area is about 60 miles from Portland. Homes there are inexpensive. There are also some nice inexpensive areas around Olympia. Would either area fit the bill?

To all newcomers….bring your own water!!

“A analysis of data from the first three weeks of April showed the median list price increased to $225,000”

Ah…hello…can someone show me the bridge you can live under for $225,000 in SLO County?

SLO is the very definition of Income Inequality, Ironic is it not?

$225k is likely a national median number. SLO County’s median is close to double that amount..

That’s a national average.

But you may be able to find a place for about twice that in all the new slums the Stupid Council of SLO city wants to build beneath aircraft paths.

Not even! Single family homes in the airport crash zones will probably be $600K.

Why don’t we make SLO Airport a General Aviation airport and route all the commercial traffic out of Santa Maria? They have free parking, a bigger runway, and by consolidating we could possibly have more flights per day making it more convenient. We could even set up a free bus service from SLO airport to Santa Maria airport for passengers with a ticket.

That sounds like a great idea, but it would probably increase the losses that Savor the Central Coast will sustain each year.

Why…because the City Government wants power. How do you get more power…you get more projects.

Thus it makes no sense to expand the SLO Airport, but Pride and Power trumps the reality that Santa Marina would be a better choice.