10 Reasons Why You Should Consider Buying A San Luis Obispo Home

10 Reasons Why You Should Consider Buying A San Luis Obispo Home

San Luis Obispo Home Ownership

 

  • Paying rent is not a good investment, but owning is a great way to start building family wealth.
  • Not only does homeownership allow you to provide your children with great education, but you can also decide whether or not your child grows up with a pet.
  • Owning a home provides you with tax benefits while also providing you with more living space to move around in.

 

6 San Luis Obispo County High Schools Receive Top Rankings

Morro Bay real estate

Six San Luis Obispo County public high schools received silver medals in U.S. News and World Report’s annual assessment released Wednesday.

The magazine evaluated data on more than 21,000 schools, weighing their performance on state assessments, how well they serve disadvantaged students, their graduation rates and how well they prepare students for college.

From that total, it identified 6,218 schools as gold, silver or bronze medal winners, ranking them according to a College Readiness Index based on students’ rate of participation and success at passing Advanced Placement tests. The top 500 ranked schools nationwide received gold medals. The next 2,173 received silver medals. And an additional 3,545 earned bronze medals. California has 683 ranked high schools.

Arroyo Grande High School placed the highest locally, ranking No. 170 in California and No. 1,032 nationwide.

It was followed by San Luis Obispo High School (No. 221 and No. 1,262, respectively), Templeton High School (No. 279 and No. 1,555), Coast Union High School (No. 430 and No. 2,278), Paso Robles High School (No. 449 and No. 2,345) and Morro Bay High School(No. 475 and No. 2,492).

Central Coast New Tech High School in Nipomo earned a bronze medal but wasn’t ranked.

Atascadero and Nipomo high schools were unranked locally.

The report named the School for the Talented and Gifted in Dallas, Texas, as the best in the country. Whitney High School in Cerritos was named the No. 1 high school in California.

For more information on the school rankings and to see detailed breakdowns on local high schools, visit www.usnews.com/education/best-high-schools.

BUYING A HOME IS 36% CHEAPER THAN RENTING NATIONWIDE

Buying-Hom-36-Less-Expensive

 

In the latest Rent vs. Buy Report from Trulia, they explained that homeownership remains cheaper than renting with a traditional 30-year fixed rate mortgage in the 100 largest metro areas in the United States.

The updated numbers actually show that the range is an average of 5% less expensive in Orange County (CA) all the way up to 46% in Houston (TX), and 36% Nationwide! 

Other interesting findings in the report include:

  • Interest rates have remained low and even though home prices have appreciated around the country, they haven’t greatly outpaced rental appreciation.
  • Some markets may tip in favor of renting if home prices increase at a greater rate than rents and if – as most economists expect – mortgage rates rise, due to the strengthening economy.
  • Nationally, rates would have to rise to 10.6% for renting to be cheaper than buying – and rates haven’t been that high since 1989. 

Bottom Line

Buying a home makes sense socially and financially. If you are one of the many San Luis Obispo renters out there who would like to evaluate your ability to buy this year, my team and I are here to help when you’re ready. It’s not as daunting as you might think, trust me, it will be fun!

-Renier-

HOW’S THE MARKET? SAN LUIS OBISPO MARCH MARKET UPDATE

real_estate_market_tagcloud

How’s the market? How many times have you asked a Realtor that question? Probably more times than you can remember, right?

As a local San Luis Obispo Realtor I get asked that question more than 50 times a week. What most people don’t realize is how broad that question is and that we, Realtors, can’t properly give you the educated answer unless you tell us more about what you mean by that. Do you mean the California state market, the regional Central Coast market, the San Luis Obispo and Santa Barbara county markets, the Pismo Beach market, or how’s the market for your specific property that you are looking to sell?

So next time you get to that place where you’re about to drop my favorite line, think to yourself what is it that you really want to know, so that I can give you what it is you really want to know. My goal is always to help you be informed, educated, and confident in your decision to buy, sell, or hold onto your current home or investment property.

If you are still curious about how the market is, here are some stats from March 2016 here in the city of San Luis Obispo for Single Family Homes.


 

Median Days on Market | 31 days | Down from Feb. 2016

Ave. Days on Market | 54 days | Down from Feb. 2016

Ave. Sales Price | $826,938 | Up from Feb. 2016

Median Sales Price | $707,750 | Up from Feb. 2106

Inventory | 40 New Listings | Up from Feb. 2016


 

THE WRAP UP

Homes sold faster and at higher prices despite there being more inventory for sale last month here in the city San Luis Obispo. All signs are pointing to a seller’s market and a highly competitive environment for buyers.

Interest rates remain at historical lows (under 4%) so if this is the right time for you and your family to look at buying a home make sure you are prepared by having your loan qualification and closing funds in place and ready to go.

For a free no obligation consultation you can call/text me at 805.776.3313 or email me at RenierADresser@me.com

Renier Dresser Photo