Pismo Beach, California – Not Your Typical Beach Town

Pismo Beach is one of the five beach towns on the Central Coast with a pristine sandy beach and is internationally known.

Pismo Beach is comprised of four different areas which include:

1.  The Pismo Beach Corridor, located by the pier attracting thousands of tourists all year round. There are several small shops you expect to see near a pier including candy stores, ice cream stores, bars, and restaurants with every kind of food you can imagine. There is even a small bowling alley. Next to the pier is one of the nicest sandy beaches in California with waves large enough to surf on, and small genial waves where children and adults can play or swim in.

Most of the single family homes are small cottages or condos, but there are a few homes located right on the beach with expansive ocean views.

The Pismo corridor is the only area in Pismo Beach where homes can legally be used as vacation rentals. Prices tend to be higher because you can buy a 2nd home with the option of rental potential. Investors to using the homes as vacation rentals, have the capability of generating rental income as high as $750.00 per day.

2. The area affectionately known as Shell Beach has the same zip code as Pismo beach, but is a more upscale beach town on the cliffs. There are small beaches below the cliffs that can only be accessed when the tide is low, which also allows for tide pooling. If you are not fortunate to own a home with an ocean view, all you have to do is walk to the end of any of the streets and view spectacular sunsets or just relax in one of the many park benches provided by the city.

The ocean side or west side of Shell Beach has homes that are small 500 SF cottages or luxury ocean view homes as big as 10,000 SF on the bluffs. Along Shell Beach road there are several restaurants you can walk to and several hotels right on the cliffs.

The east side boasts new and older 1 bedroom and mid-sized condos, and large single family homes—many with ocean views.

3. Pismo Heights is located off of Wadsworth on the highest hill in all of Pismo Beach. Many of these homes have amazing ocean views and worth the trip up the windy roads on your way home from work.

4. The homes off of 4th Street, rest in a more traditional residential neighborhood with a mix older and newer homes. It is a very nice area to live in if you what to keep away from the tourists.

A large percentage of all of the four areas n Pismo Beach are used as second homes for many families wanting to live part of the year in the most beautiful part of the Central Coast.

Pismo Beach has its own city government, which includes services such as a police, building, fire departments, and highly rated schools.

Pismo Beach is clearly not your typical beach town. If your dream is to own a home near the ocean, Pismo Beach is one of the most desirable cities in the world.

David Norwood- Central Coast Real Estate – Real Time Home Search

David@DNorwood.com 805-270-5860

www.DNorwood.com

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Arroyo Grande (AG), is a wonderful little small town on the Central Coast of California

Centrally located, about ten minutes from downtown San Luis Obispo (SLO), getting to work or college is just a short drive. AG is also close to several other amenities such as, the Pacific Ocean with the Pismo / Oceano dunes for ATV riding and camping; Lopez Lake for boating, swimming or fishing and water sliding; fantastic five star restaurants; gyms with pools and tennis; movie and live theaters; boutique shopping and discount shopping.  Arroyo Grande has a Walmart and a Trader Joes, which for some is a must, plus there are a few nearby full service grocery stores: Haggens, Vons, Cookie Crock Warehouse, and California Fresh Market.

If you are looking to get away from the big city, but still want all of the services a big city offers, Arroyo Grande has its own police, fire department and a quality hospital, which is essential if you are planning on retirement now or in the future.

The climate’s mild temperature is conducive to outdoor activities with no need for an expensive air conditioner, which saves you thousands of dollars in electric utility bills compared to other hotter non-coastal areas in California.

Lake Lopez supplies the water to all of AG, and although residents are cognizant of the current drought, and are asked to be conservative with water, there is currently no evidence that there will be a complete water shortage anytime soon.

The schools are the best in California, with very high ratings. Go to:  Schools San Luis Obispo School Ratings for more information.

Like most of the nation, Arroyo Grande suffered price reductions due to the recent recession.  It is clear that the real estate recession is over, but prices are still lower than prices before the recession. Additionally, interest rates have not gone up significantly.

Of all of the San Luis Obispo communities, Arroyo Grande offers homes that have it all depending on what you want. You can find homes with: ocean views, single levels, RV storage, acreage, lakes, farms, in forests, or next to golf courses. There are palatial homes priced relatively low, and homes for first time home buyers.  Plus, Arroyo Grande real estate tends to be a good value compared other coastal areas in California.

As more people discover the natural beauty, and fantastic location, property and homes here are expected to rise in value significantly.  So it may be the best time ever to find a home in one of the most wonderful places on earth.

David Norwood- Central Coast Real Estate – Real Time Home Search

David@DNorwood.com 805-270-5860

www.DNorwood.com

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TOP 14 CENTRAL COAST CITIES by David Norwood

In the next few week and months, I am planning on writing about all of the Cities on the Central Coast of California.

My plan is to write about:

SOUTH SAN LUIS OBISPO COUNTY
Arroyo Grande,
Avila Beach
Cambria,
Cayucos,
Grover Beach,
Los Osos,
Morro Bay,
Nipomo,
Oceano,
Pismo Beach (Shell Beach),
San Luis Obispo,

NORTH SAN LUIS OBISPO COUNTY
Atascadero,
Paso Robles,
Templeton.

So, if you read my blog, and you are familiar with a particular city on the list above, I certainly would like to hear from you in advance so I can add your comments about any of the cities I will be writing about.

David Norwood- Central Coast Real Estate – Real Time Home Search

David@DNorwood.com 805-270-5860

www.DNorwood.com

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SAVE $10,000 BY BUYING A HOME COMPARED TO RENTING

If your rent is $2, 147.00 per month you are paying $30,730 for housing per year.

If your loan is $2,147.00 per month you are paying $20,801 for housing per year.

 

There are several reasons to buy a home, and the most important reason is that it is the ONLY way a working person can lower their income taxes.  Loan interest on homes are tax deductible and there is NO tax advantage when you rent.

How much can you deduct off of your income tax will depend on how much your salary is.  The average amount a person pays is around 25% of their salary in federal income taxes, so the more money you make the more you can deduct from you income taxes.

Below are several charted examples of how much you can deduct, but these two statements should make it clear if your tax bracket is at 25%:

 

If you buy a home you can save up to $10,000 or more per year.

 Interest rates today with 20% down can be under 4%.

INTEREST RATES; 4% WITH A TAX BRACKET OF 25%

Loan Amount Rent or Loan Payment Per Month Cost to Rent First Year Cost To Borrow First Year Rent Verses Loan Savings First Year
$600,000.00 $2,864.50 $40,326.00 $28,422.00 $11,904.00
$500,000.00 $2,387.08 $33,605.00 $23,685.00 $9,920.00
$400,000.00 $1,909.67 $26,884.00 $18,948.00 $7,936.00
$300,000.00 $1,432.25 $20,163.00 $14,211.00 $5,952.00
$200,000.00 $954.83 $13,438.00 $9,478.00 $3,960.00
$100,000.00 $477.42 $6,721.00 $4,737.00 $1,984.00

 

Interest rates today with less than 20% down can be over 4%.

INTEREST RATES; 5% WITH A TAX BRACKET OF 25%

Loan Amount Rent or Loan Payment Per Month Cost to Rent First Year Cost To Borrow First Year Rent Verses Loan Savings First Year
$600,000.00 $3,220.00 $46,101.00 $31,201.00 $14,900.00
$500,000.00 $2,684.00 $38,417.00 $25,994.00 $12,423.00
$400,000.00 $2,147.00 $30,730.00 $20,801.00 $9,929.00
$300,000.00 $1,610.00 $23,051.00 $15,601.00 $7,450.00
$200,000.00 $1,073.00 $15,367.00 $10,401.00 $4,966.00
$100,000.00 $536.83 $7,684.00 $5,200.00 $2,484.00

 

Keep in mind that you also have to pay 1% of the sales price for property taxes, but the increase in value, (equity) should make up the cost of taxes plus property taxes are also deductible.

Check out all of the available one in San Luis Obispo in Real Time on my web site at

David Norwood- Central Coast Real Estate – Real Time Home Search or

Call me at 805-270-5860 and I can send you link to affordable homes you will love.

David Norwood-Central Coast Real Estate David@DNorwood.com

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WILL HOME PRICES GO UP OR DOWN IF INTEREST RATES GO UP?

Contrary to popular belief, it is statically NOT true if the Fed increases interest rates, home prices will come down. It IS true, if interest rates are increased home prices will go UP.

In August 2014, Dr. Steve Sjuggerud from Stansberry and Assoc. Investment Research wrote, “Housing rises faster than normal when the Fed raises rates. And it rises slower than normal when the fed cuts rates, and home prices tend to do better when the Fed is raising interest rates … based on data over 46 years, Take a look”

 

Average Return 6 Months 1 Year 2 Years
Start of cutting rates 1.8% 4.7% 8.9%
Start of raising rates 3.7% 6.7% 13.3%
All Periods 2.7% 5.3% 10.9%

 

Fear of prices or interest rates increasing is one of the factors that motivate buyers to buy a home.  When the feds increase interest rates, the news media reports the change and people start to buy again. As home sales increase, inventories go down and prices go up—“Supply and Demand”.

Today, interest rates are still historically low at around 4% for both conventional loans and jumbo loans.

In San Luis Obispo County, homes are certainly selling.  This year, 2014, 1,794 homes have sold with 503 homes in escrow.

Currently, there are 1,092 homes available for sale priced as low $239,000 for a condo in Templeton, CA or as high as $19,000 for a 3,500 acre range in Arroyo Grande, CA.

Inventories are high, which historically is the best time to buy.  If you are a buyer and have not decided if it is time to buy, you may want to decide before interest rates increase and price go up.

Check out all of the available one in San Luis Obispo in Real Time on my web site at

David Norwood- Central Coast Real Estate – Real Time Home Search or

Call me at 805-270-5860 and I can send you link to affordable homes you will love.

David Norwood-Central Coast Real Estate David@DNorwood.com

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HOW TO SAVE 30% ON YOUR HOME UTILITIES – GAS AND ELECTRIC CARE PROGRAMS

HOW TO SAVE 30% ON YOUR HOME UTILITIES – GAS AND ELECTRIC CARE PROGRAMS

If you are a first time home buyer, retired, work for minimum wage or a student, most likely will qualify for the CARE programs offered by Southern California Gas Company, Pacific Gas and Electric (PG&E), and Southern California Edison.

All three utility companies have CARE programs.  The more people in your household the greater chance you will qualify.  For example, if you are a couple with one child, and earn up to $47,700, you will save 30%.  So, an electric bill for $82.22 could be as little as $57.15.

ENROLL IN PG&E CARE PROGRAM

ENROLL IN SOUTHERN CALIFORNIA GAS COMPANY CARE PROGRAM

Below are the requirements to qualify.

 Total income for all persons in your household meets the following income guidelines:

Number of persons in household Total yearly household income* no more than
1-2 $31,460
3 $39,580
4 $47,700
5 $55,820
6 $63,940
7 $72,060
8 $80,180
For each additional person in your household add $8,120. * Includes current household income from all sources before deductions

View all of the available homes on the Central Coast of CA in REAL TIME at

David Norwood- Central Coast Real Estate – Real Time Home Search

David Norwood-Central Coast Real Estate David@DNorwood.com

805-270-5860  http://DNorwood.com

 

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WHY IS THAT HOME PRICED SO LOW? HOW TO VIEW A HOME USING GOOGLE STREET MAPS

If you have been looking for a home, you might see a home that is priced lower than all of the others in the same neighborhood and wonder why?  If it is too good to be true, than you need to ask yourself why?  In most cases it is because it is located next to a busy street, or freeway?

The solution is simple, look at an Aerial view and or a Google Street map. If you are not already aware of it, Google has been photographing the US and has created an amazing way to look at the front of a home. Below are instructions on to use Google Street maps.

1. In Google search, type in and address of the home or street, which should bring up a map. Click on the map.

2. Click on the Satellite square in the corner of the map—is the home next to a busy street?

3. Click on the little yellow or yellow & white man in the corner, which will turn the roads blue.

4. Use the pointer and drag the little man to the marked address or street.

5. The map will turn in to a virtual view of the street, which you can move around in any direction.

6. To get back to the map view, click on back to map in the corner of the Street View.

Google Street map Link to Matte Road, Pismo Beach California, next to the freeway

Example; Google Street map Link to Matte Road, Pismo Beach California, next to the Freeway

Google street maps is one of my favorite tools to help people find homes and before I set up an appointment to show a home, I will look at the map and see if it is on a busy street.  So, when you are looking for a home you like, look at in on an aerial view map. It will save you a lot of time and ware on your car.

The rule of thumb is if you can see the tires, it is probably too loud.

There are several other reasons why a home may be priced low and homes are often are priced incorrectly. A lower price is not always an indication that it is next to a busy street. Call me at 805-270-5860 and I will be happy to help you determine if a home is priced correctly or why is it priced lower than other homes in the same area.

View all of the available homes on the Central Coast of CA in REAL TIME at

David Norwood- Central Coast Real Estate – Real Time Home Search

 

David Norwood-Central Coast Real Estate David@DNorwood.com

805-270-5860  http://DNorwood.com

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