The Pismo Beach Car Show took place this past weekend.   I used to participate by entering my 1969 Checker Aerobus and even was fortunate to win first place one year in my division.  Now it’s fun for me to be an observer and to roam downtown Pismo Beach and talk to the owners of the cars on display. 

The record-breaking heat added another element to the event.  I thoroughly enjoyed the warm evening weather as we watched the cars cruise the streets, although some of the vendors complained that the crowds were thinner than they expected.  If that was the case, it’s hard to tell whether it was the heat or gas prices (or both) that affected their business.

Posted: June 23rd, 2008 under Area Information.

As real estate agents, we sometimes take it for granted that buyers understand how real estate agents are paid.  However, most first-time home buyers haven’t experienced the process yet, so we wanted to clarify some important points for those who may be unfamiliar with how it all works.

In most cases buyer representation is free of charge. It is traditional that the seller pays for the costs of all commissions of the listing agent and selling agent (buyers’ agent).  This comes from the proceeds of the sale. Sellers are fully prepared to pay the cost of hiring a real estate professional to sell their home.  The agent’s commission is negotiated and noted in a written contract between the sellers and the agent they select to market their home and represent them throughout the process.  Most of time, the commission is an agreed upon percentage of the selling price of the home.  That commission is shared or split with the agent who represents the buyers of the home. 

So there is no commission cost to the buyers for agent representation.  Obviously,  there will be other costs involved with the home buying process such as obtaining a mortgage loan and buyer inspections ect. A knowledgeable real estate agent will be able to explain the whole process to you in detail when you are ready to make your home purchase.

You can find more information for first-time home buyers in our article, Can I Afford to Buy a Home?

~Shea Hutchinson, Realtor Associate, HomesCentralCoast.com Team

Posted: June 12th, 2008 under Real Estate Sales Activity.

We often get questions from people who are interested in buying a Central Coast beach property that generates income as a vacation rental. Pismo Beach and Shell Beach are popular destinators for tourists and one of the key areas of interest for a possible vacation home. However many people, including locals, are not aware of the fact that the City of Pismo Beach (which includes Shell Beach) has a Zoning Ordinance that makes it illegal to rent a home as a short-term vacation rental in Pismo Beach and Shell Beach neighborhoods that are zoned “residential”. The ordinance defines a short-term rental as one that is less than 30 days. Until recently, the City of Pismo Beach really didn’t enforce any penalties for violators and left it up to neighbors to complain before any action was taken. Now Pismo Beach has hired an enforcement officer who will be researching, investigating and enforcing the ordinance. Currently the City plans to shut off the water supply for those who violate the ordinance after two complaints/warnings.

Posted: June 6th, 2008 under Area Information.

The LA Times published an interesting article today featuring a Santa Maria family whose home is going into foreclosure. I think the article gives a good example of how many people ended up finding themselves in this situation. The article also notes the large number of homes in foreclosure in the Santa Maria area.

If you’d like to read it, here’s the link:
Santa Maria house bought with no money down goes into foreclosure

Posted: June 5th, 2008 under Foreclosures.

Here’s a snapshot view of sales for single family homes in some of our Central Coast cities based upon statistics from the Central Coast MLS -Multiple Listing Service:

Posted: June 4th, 2008 under Real Estate Sales Activity.