The Trilogy Resort development located in the beautiful city of Nipomo is my favorite golf, spa, tennis and all around fun residential development in the county. If you haven't been to it, you have to take a tour, and see the 2 new affordable models Shea Homes has just released. The new homes price is outstanding! As a local real estate agent, I have to tell you this is one of the best values in the county. Check out the models below-

Included in the new release are the 1,428-square-foot Zaca floor plan and the 1,565-square foot Cachuma floor plan. Both homes start from the mid-$300,000's. Don't miss the opportunity to live on California's magnificent Central Coast, in an award-winning resort, at this exceptional price point.

SPECIAL OFFER
Purchase a new Zaca or Cachuma by April 30th and receive an additional $5,000 in design center credit good for things like upgraded counters, flooring, and landscaping!

As many of you know I have always been a big fan of Shea Homes. Their customer services at highly ranked by J. D. Powers and Associates.

For more information about the resort, phone me at 805-459-0074 or visit my web site at

www.myslohomefinder.com I'd love to talk to you about the resort.

I have studied the San Luis Obispo real estate market for over 30 years both as an investor and as a real estate agent. I have seen a profound change in the market in the past 6 months. As my long time readers know, I have a web site- www.myslohomefinder.com and I have noticed a 50% increase in traffic to the web site, especially from buyers looking for homes in San Luis Obispo County. I have interviewed some of these buyers. I have placed them in different groups. The first and most prominent are the first time buyers who want to get their first home. The second are the investors that are looking for rental income because they are not making money on their CD's or bank accounts. Lastly we have the people from Nortern and Southern California, and the Central Valley that want to move here because of our beautiful beaches and coastline, and of course, or mild and sunny weather. Can you blame them!

I have been pointing out to you in the past every time I see the "green shoots" appearing in the local, state and national housing market. You may ask the question, "Why should I care about California and the U.S. housing market?" The reason you should care, especially about the California market, is that when these markets start to heat up so will our market. With such a big desire for people to move here, once they can sell their homes they will be able to come here to buy ours. And lets face it, there is very little being built here. So the inventory of homes can't meet the demand for this growth. This leaves available inventory to fill demand, and as you can see by the graph below the inventory of homes on the market in the San Luis Obispo real estate market is decreasing.

Decreasing San Luis Obispo real estate inventoy

Also just read the real estate headlines in the press. There is a lot more postive press. Just look at these recent headlines.

2/10/2012 Home builders and investors both see signs of a turn – USA Today

2/08/2012 O.C. foreclosures for sale at 20-month low – Orange County Register

2/08/2012 Homes in foreclosure decline by 130,000 – CNN

So tie in all of the information above, you can see the "green shoots" of a housing turn around. When you tie this to record low mortgage rates you can project into the future that we possibly could see a housing shortage in about 2 years! Don't wait until this point to start looking. Start looking now! Go out and get pre-approved by a good lender and visit my web site to see what's out there! www.myslohomefinder.com

All the signs are there that we will at some time in the near future experience major inflation. One of the last economic signs that we are going into inflation is the real estate market. The real estate market has been on a downturn since the bubble years of the the 2000-2006 period. Now we are seeing the real estate market hitting bottom, and in some areas we are seeing up swings. With the Fed. throw all this cheap money out there, eventually we are going to see the 1970's style inflation back.

How do you hedge against inflation? You buy commodities, gold, silver and yes, the last component, real estate. As many of you are aware, rents have been increasing on average abour 4.7% last year. With cheap FHA financing out there, we are already seeing an increase in housing here is San Luis Obispo County in the lower end homes. This will eventually trickle up to the moderate priced ones.

So get ready! When the inflation sunami hits! Don't be on the beach!

buying a home in paso robles

Tips on Buying a Home in Paso Robles

Are you a First Time Home Buyer or an Investor who is buying a home in Paso Robles or the surrounding areas? If you've been searching and looking at properties, you are probably noticing that there is a lot of competition and a lot of homes that need rehabbing badly! Anything under $325,000 is the fastest moving part of the market because there are more buyers in this price range. So, when you or someone you know is thinking about buying a home in Paso Robles ---or anywhere in San Luis Obispo County, pass these tips on to them. It will increase your chances of finding a home and getting your offer accepted.

1. First, select a Realtor who knows short sales, REO's, HUD properties, and the different types of loans available. Why? Because you can still buy a rehab home using FHA by getting a 203K loan to pay for the rehab work.

2. Get pre-approved for a loan by an experienced loan officer. A good loan officer will ask you the right questions about your personal situation and will recommend a specific type of loan for you. Be sure to ask him or her about USDA loans (100% financing), FHA, FHA 203K loans and about conventional as well.

3. Ask yourself if you are interested in buying a home in Paso Robles that is in move-in condition or if you want to get a fixer and do it yourself. Since 1/3 of the market are short sales , 1/3 are REO's or bank owned properties (foreclosures), many of these homes are NOT in move in condition and have NOT been kept up.

4. Keep an open mind. Buying a home in Paso Robles is a process. You may find a great home right away or it may take weeks for you to see something you want. The key is to be flexible and know what your options are, and because it is a process, you may find that your needs and wants change as you see what's available in your price range. We all want to save money, but don't skimp on your home. You will be living in it for years, so you should be happy.

5. Make sure your agent checks for new listings, price reductions, and homes that come back on the market ---EVERY DAY! You want to be the first one to see an opportunity!

6. Understand how buying a short sale or foreclosure affects you. Purchasing a short sale could take several months and may never close. A REO/Foreclosure can close in 45 days!

7. Be ready to move quickly. When buying a home in Paso Robles, have all your ducks in a row for financing, etc. so when that house does come on the market, you can put in an offer quickly. Your agent will be able to tell you additional things about the house that will effect how you will put in an offer.

8. When in a multiple offer situation, write a CLEAN offer! That means, don't ask for concessions such as closing costs, home warranties, etc. You may have to increase the purchase price, too. It depends on the situation, the type of home and if it's listed under market value. Your agent should know all of this, and make sure you discuss strategies on how you can be the offer the bank or seller selects.

SEARCH ALL LISTINGS

I hope these tips on buying a home in Paso Robles helps you in your pursuit of your home! Please feel free to call me at 805-296-9005 or email me anytime! I'd love to help you.

Good morning all! I have today's mortgage rate update brought to us by Bob Franklin at Wells Fargo Home Mortgage from the beautiful city of Pismo Beach California, "Where the surf is always up! And the people are always friendly!"

The Day Ahead: Deja Vu All Over Again For Greece, Trade Deficit, Consumer Sentiment
Installment of Greece bailout, not until next week now. Trade Deficit In Line With Expectations. No Market Reaction DEC TRADE DEFICIT $48.80 BLN (CONSENSUS $48.00 BLN) VS NOV DEFICIT $47.06 BLN (PREV $47.75 BLN). Consumer Sentiment Slightly Lower Than Expected PRELIMINARY FEB 72.5 (CONSENSUS 74.5) VS FINAL JAN 75.0. Survey of Economists Shows Better Expected Job Growth. The Philadelphia Federal Reserve released a first-quarter survey of 45 forecasters showing upward revisions to expected payroll growth. This provides some counterpoint to bond-market benefits felt from the weaker-than-expected Consumer Sentiment data out five minutes earlier.

Dow is trading at 12,758.39 -132.07 and the 10 yr bond is at 1.99% from 2.03% Yesterday, . Currently mortgages are slightly worse from Yesterday

Conv.- 3.875%
FHA. - 3.75%

Make it a Great Weekend!!


Bob Franklin

Mortgage Consultant
NMLSR ID 248760

Wells Fargo Home Mortgage | 575 Price St, Suite 105 | Pismo Beach, CA 93449
MAC E2396-011
Tel (805) 550-3395 | Fax (877) 609-0926

Bob.Franklin@wellsfargo.com

www.wfhm.com/Bob-Franklin