Newsletter

SLO County Market Update / Cal Poly’s Master Plan Recently Cal Poly received a 5-star rating from Money magazine, along with 33 other schools across the U.S. including Ivy League universities. It was the only CSU campus to do so. Last fall, U.S. News & World Report named Cal Poly the best public, master’s-level university in the West for the 30th straight year. Cal Poly has long been a coveted...

SLO County Market Update / CA Homeowners Insurance Under Fire Allstate and State Farm, two of the country’s biggest insurance companies, recently announced that they would no longer insure new homes in California. Insurers have been shrinking their coverage areas in California for the last few years, especially in wildfire-prone regions. What Happened: On May 26th, State Farm announced that it...

SLO County Market Update / New Transportation Infastructure for SLO “SLO in Motion” is an $11 million investment by the city that includes a variety of neighborhood enhancements. The program consists of four major projects; transforming the community garden at 533 Broad Street into a park, wastewater pipeline replacements, new infastructure across major roadways as well as the “North Chorro...

SLO County Market Update / Bank Failures & Real Estate The beginning of March brought about three bank failures within a week. Many people wonder if these collapses will trigger volatility in the real estate market as well. What Happened: The first bank to fall was Silvergate, based out of La Jolla, CA. It had highly invested in cryptocurrencies (which are not marketable securities) and...

SLO County Market Update / Tax Extensions Granted to SLO County Residents President Biden and Governor Newsom declared a state of emergency throughout California in response to the recent winter storms. These declarations mean residents and businesses in San Luis Obispo County who have been affected by severe winter storms, flooding, and mudslides are eligible for tax relief. Any “affected...

SLO County Market Update / 2023 Real Estate Projection As Realtors®, it’s our job to stay on top of real estate news and inform our clients when risk or opportunity are present in the market. With the fluctuation of interest rates, inflation hitting consumer’s pocketbooks and a nation cautiously attempting to sidestep a recession; there are too many factors to comfortably promise anything. We...

SLO County Market Update / New Real Estate Laws for 2023 With the turn of the new year, California implemented a slew of new laws regarding real estate. We’ve summarized them for you below. For more information or to read the full text, please visit www.leginfo.legislature.ca.gov.   LAWS EFFECTIVE JANUARY 1ST, 2023: AB 916: Prohibits a city or county legislative body from requiring a public...

SLO County Market Update / This Relocation Nation More than 1 in 4 (26%) Americans moved to a new state in the last five years and of those that chose not to move, 63% said they considered it. The top factor motivating Americans to move is work (33%) followed by a desire to be closer to family (25%). A lower cost of living came in third with 23%. Other reasons include a simple desire to live in a new...

SLO County Market Update / Senate Bill 1383 - statewide greenhouse gas emission reduction goal In 2016, Governor Jerry Brown signed Senate Bill 1383 into law, creating statewide greenhouse gas emission reduction goals. The law would roll out slowly over the course of several years with established dates for each action step trickling out until January 1st, 2025, where it would then be in full-effect....

SLO County Market Update  / Combating Inflation with Rising Rates Given the past few years; a world-wide pandemic, skyrocketing home prices, rising fuel costs, record-breaking lumber price tags, a brand new war.... we would never dream of trying to predict what may happen with the current interest rate hikes. However, here’s what we’ve found the experts are saying. The Goal: The Fed’s...