Serra Meadows - Phase One Homes will be open this Friday!

 Serra Meadows - Phase One Homes will be open this Friday!

I have a wonderful announcement for the first release of homes for Serra Meadows will be on Friday Aug. 23th. The details below will outline the way they will be allowing the pre-qualified buyers to choose their homes. Remember, having a realtor in your corner representing you will be critical. If you go in without one you have no representation fighting for your best interest and guiding you thru the process. Please give me a call if you need a realtor or have any questions. Below are the details for the launch.

"We are pleased to announce that due to strong demand, buyer input, and our desire to allow for option selections prior tocutoff dates, we will begin reserving the homes in Phase One on Friday, August 23, 2013.

We will offer the homes in Phase One to buyers that have been pre-qualified with Commerce Mortgage.  When you obtain your pre qualification letter from Commerce Mortgage there will be a number on your letter.  This number will reflect your position on the list of pre-qualified buyers, and we will begin offering the homes in Phase One in numeric order.  If your number comes up and you pass on any of the remaining homes, you will go to the end of the pre-qualification list.  Once the last home in the Phase One is reserved, the position on the list will be re-set, so the next person in line, would be number one for our next release and so on. 

So if you have interest in any of the homes offered in Phase One, we urge you to pre-qualify with Commerce Mortgage as soon as possible.  If you are a cash buyer, you will still need to pre-qualify with Commerce Mortgage. 

Contact Traci Ferguson (805)235-6396, if you need to get prequalified with Bank of Commerce Mortgage.

Also, we are excited to announce an incentive for the homes in Phase One.  If Commerce Mortgage provides your loan, you will receive a $3,000 credit toward your closing costs! "

Please give me a call if you need realtor representation or have any questions about Serra Meadows or anything Real Estate related. I'm here to help!

"A Realtor that knows homes." Traci Ferguson 805-235-6396 traci@traciferguson.com http://www.traciferguson.com License #01875751, ecoBroker #16082

How Much Home Can I Afford?... So Play House

How Much Home Can I Afford?... Play House

I am a very big fan of Money Queen Suze Orman. On one of her recent shows, she had a wonderful idea about figuring out how much home can a new buyer afford. Today I'm going to give you the tools to figure that out by "Playing House."

Step #1
* Choose how much home you want to buy.
* Only start this process if you have 20% down on this home of your choice.
* Go online and use a mortgage calculator and online resources to figure out the following monthly expenses:
       1. 30-year fixed rate monthly mortgage payment
       2. Monthly Property taxes
       3. Monthly Association Fees, (If it's a Condo, Mobile Home or PUD)
       4. Monthly Home Owners Insurance
       5. Monthly Home Maintenance (Yard, Periodic Painting, Termite Repairs, Roof, etc.)
*Total up all the costs for items 1-5, under step #1, and this will give you the total monthly cost of owning the home.

Step #2
* Use your total at the end of Step #1 and subtract it from the monthly rent you currently pay. This will give you the additional amount you currently would have to pay for a home of this price.

Step #3
* Start saving the additional amount you figured out at in Step #2 for 6 months.
* This will help you see what it feels like to own your own home.
* If this amount is too difficult, then you are purchasing too much house.
* If it's easy, you now have 6 months of saving to use towards your closing costs and down payment and you should call your favorite realtor, me, to begin your home search.

I hope this was helpful! This will also help you see if renting is comparable to the monthly cost of buying a home in this current market. Please comment below to give me feedback on this blog post.

"A Realtor that knows homes." Traci Ferguson 805-235-6396 traci@traciferguson.com http://www.traciferguson.com License #01875751, ecoBroker #16082

Traci's Your Realtor for it all...

Traci's your San Luis Obispo Realtor for it all...

Yesterday I got a call from a potential buyer who found my information on a sign I have at my listing on Royal Way in San Luis Obispo. Anne called to learn more about my listing and she was asking all the right questions.  We got into the property details and she was happy to hear all of the information I was giving her about the property.  But, as we were talking, I was not only giving her info she was asking about but I was asking her questions to get a sense of what her objectives are in her next home purchase.


But the reason for this Blog post is because while I was talking to Anne I wasn't just regurgitating the information about the home. Rather, we got into discussing the current housing market and the pro's and con's of living in the San Luis Obispo area.  I want my current and future clients to know that my job as your Realtor is to not only helping you find a home but to be a beacon for ALL aspects of housing.  That can include current housing market, moving, repairs, consultants, San Luis Obispo city & county items, schools, local amenities and calendar events in the area.  It's my job to be "In the Know".   I'm happy to share my knowledge and information to better your life and your families life.  Let me be your resource for these things.  I am just a phone call away.  In the epic words of Tom Cruise in Jerry Maguire, " Help me , Help you..."

Your realtor is your resource for your neighborhood and lifestyle!

"A Realtor that knows homes." Traci Ferguson 805-235-6396 traci@traciferguson.com http://www.traciferguson.com License #01875751, ecoBroker #16082

San Luis Obispo Condo for Sale!

San Luis Obispo Condo for Sale!
Calling All Cal Poly Parents... This Condo on Exposition Drive is the perfect investment property for your Cal Poly incoming student or for you first time home buyers.

This clean end unit in the Convenient Woodbridge Condo Complex. It's a 2 bedroom 1-1/2 bath with just over 1,000sq.ft. It has a tiled living room fireplace with newer clean carpet throughout. This unit has additional windows as an end unit and is very private, with only one neighboring unit. Backyard Deck has a small exterior storage unit. The refrigerator, washer and dryer and water softener is included in the sale of the property. The unit has a single Car Garage and one designated parking space. This condo would make a great investment property or first home.

Click on condo to see the official website or give me a call or email Traci today to see this beautiful home.

"A Realtor that knows homes." Traci Ferguson 805-235-6396 traci@traciferguson.com http://www.traciferguson.com License #01875751, ecoBroker #16082

Great San Luis Obispo Title Sales Manager - Stacy Gregory!

Great San Luis Obispo Title Sales Manager -  Stacy Gregory!

Stacy Gregory is a County Sales Manager for First American Title Company in San Luis Obispo. Stacy has a positive attitude and is always ready to help with anything. Stacy has been a helpful part of my Real Estate team. She has helped me with no hesitation on getting information and helping me close deals with ease.

Stacy is approachable, eager to help and always open to new ideas to help agents be more efficient and help us get our job done faster. Thank you Stacy for all that you do and your commitment to being the best at what you do. I am grateful for it!

Contact Stacy today to help you get a great Title Officer on your side for you next Central Coast escrow.

First American Title Company
899 Pacific Street
San Luis Obispo, CA 93401
(805) 543-8900
(805) 471-6625 direct

If you ware looking to sell or buy a home in SLO County, give Traci a call.

"A Realtor that knows homes." Traci Ferguson 805-235-6396 traci@traciferguson.com http://www.traciferguson.com License #01875751, ecoBroker #16082

San Luis Obispo Property - Deal Of the Week, Short Sale

646-646 1/2  Caudill St,  San Luis Obispo, CA  93401  - $459,000

This San Luis Obispo property is a Short Sale and is Two grandfathered 2 bedroom, 1 bath houses on one lot. Nicely landscaped front yard, rear fenced yard. Two single garages connected to back unit (one for each house). Newly painted, refinished hardwood floors. Perfect investment property and priced for multiple offers. Click here for more information and images. Contact Traci with any questions.

Traci Ferguson, REALTOR - San Luis Obispo
traci@traciferguson.com
(805) 235-6396, (888) OK-TRACI
http://www.traciferguson.com

Preparing your San Luis Obispo Home For Sale

San Luis Obispo sellers that will be listing their home for Sale in 2011 will have the upper hand if they follow some simple tips when preparing their Home For Sale? As the new year approaches and I am getting inquires about listing property, the question has come up; "How do I get my home ready to put it on the market?"

Well you can watch a four minute video on my website, explaining how to prepare your home for sale.
Or see the list below to set your home up for the best possible chances for being sold first and impress any buyer.

1. First impressions are everything. What first impressions is your home giving? - If your yard, walkway and landscaping are over grown and need some trimming, get it done before buyers start coming by. Trim back hedges, rake the leaves and make the yard nice and neat.

2. What focal point can you enhance to build better curb appeal? If you have a large oak in your front yard or a beautiful rose garden, make sure they are showcased in the best possible way to appeal to buyers. Trim back hedges into tidy mounds. Also they may be blocking in natural sunlight that could be filtering back into rooms in the house.

3. What first impression is your front door or entry saying? Every buyer will judge your house in the first eight seconds.Give the front door a fresh coat of paint and update the hardware & new screen on the door to impress buyers. Pay attention to detail to make the home look as expensive as possible.

4. Where can you reap the most benefits on enticing a buyer? Kitchen and Bathrooms sell homes. In the kitchen, make simple changes by giving the cabinets a fresh coat of paint. Keep counter tops clear and clutter free. Don't leave out mail and personal items that others can see. You want the buyer to envision themselves in this house. It's hard to envision with personal photos and your stuff all over.

5. What simple things in the bathroom can you do?  Freshen things up with a new coat of paint on the cabinets, re-grouting or re-glaze your bathtub. Keep the amount of items on the counter tops down to a minimum. If you are still living in the home, keep the toothpaste and toothbrushes away and take it out as you need them

6. What are buyers looking for in bedrooms? You want your bedrooms to feel bigger, so keep clothes and stuff off the floor. De-clutter and remove extra furniture so rooms feel bigger and give the impression of light and expansiveness. Clean rooms look bigger.

7. Where else can you catch a buyers eye? Linen Closets and overall attention to order and detail will give buyers the impression you keep your things tidy and the home is probably just as taken care of. Stacking towels neat and tidy go a long way. Remember to keep it simple if you are staging your property as well. Simple is Better!

 These simple changes can add value to the overall sale of your home. You only have one time to make a first impression, make it the best possible impression you can.

Traci Ferguson
805-235-6396
traci@traciferguson.com
http://www.traciferguson.com

Buyer Resources - MLS Search San Luis Obispo

MLS Search tools are the best way to look for homes for sale online in San Luis.

I have added a new MLS (Multiple Listing Service) feature to my site that will help you look at property in an easy way.  My new "Real Estate Listings" Button is a helpful MLS tool to search all homes in San Luis Obispo County. 

Go to http://www.traciferguson.com and click on the far right button, "Real Estate Listings" and begin your search for any type of property you are looking for. I can also set up a customized search for you. Get new up to date listings sent to your in box. Let me be your home resource for you and your family.

Traci Ferguson
805.235.6396
traci@traciferguson.com
http://www.traciferguson.com

Buyer Resources - Mortgage Calculator

As a buyer in San Luis Obispo you need to have all the information you can to make an informed decision. My job is to help you get the information you need.

I recently have added a Mortgage Calculator to my site, and not just one type of mortgage calculator mind you!
When you go to my site, http://www.traciferguson.com and click on the center button," Real Estate Videos & Info" scroll down to Free Mortgage Calculator. Or click here to see a list of calculators available to you.

How much will my payments be?
How long will my mortgage last if I pay more every month?
How much income to qualify?
How much home can I afford?
Should I pay points?
Should I refinance?
What are the tax benefits of buying?
Standard vs. Bi-weekly
What is my APR?
Interest-Only Payment Calculator        

If you are considering buying in San Luis check out my site and the Mortgage Calculator page.Get a feel for what your payments will be, know what to expect and how your money can work for you. If you have any questions or would like to discuss any of these calculators I would be happy to answer.

Traci Ferguson
805.235.6396
traci@traciferguson.com

San Luis Obsipo Real Estate - Power of Leverage

Despite the recent correction in the housing market here in San Luis Obispo County, it's no secret that a real estate remains the greatest source of wealth creation nationwide.  By using the power of leverage you can purchase a home and create long term wealth.

Leverage in the context of Real Estate means "borrowing money" and derives from the word "lever" which can be used to create a tremendous amount of force. How does leverage work in real estate?

Let's assume you purchase a home for $400K with 20% down payment ($80K) and the bank loans you the remaining 80% ($320K).  The word lever, " leverage" is appropriate because, like the strength you gain by using a lever, you have gained more purchasing power by borrowing money.  You essentially buy a $400K asset for just $80K.  Of course, now you have to repay the bank, but here is where the power of leverage kicks in.

Let's assume that San Luis real estate continues on the same trajectory it has been on for the past 100 years and it gains in value 2% over the rate of inflation (this is the average of all the bubbles and recessions during that time frame). So just by living in your home and not including any improvements you may make, your investment creates $8K ($400K x 2%) of wealth in the first year alone.  When measured against the original down payment, that's a 10% return on your cash investment ($8K/$80K = 10%) which is pretty hard to find these days.

Now, imagine that you live in your SLO home for 20 years, through the magic of interest compounding at an annual rate 2% that the same $8K will turn in to $194,379.  After 30 years, the gain would be $324,545 plus, by then, you would have probably paid off the original principal balance.

All of this is made possible by leverage, which is the borrowing of money to make the purchase of a home possible.  Of course, we all got carried away with the use of excessive leverage during the bubble, but now may be a great time to revisit the concept. You can continue to track what the market here in San Luis Obispo is doing by watching the numbers. But your best bet is to find a house that you will be happy in, make a significant down payment (at least 20%) and let the power of leverage and compound interest work for you.

Despite what the media says, real estate is still the greatest avenue towards life long wealth.  News papers, media, and politicians are on the bandwagon to talk about the horrible housing market. Talks about a mortgage crisis and meltdowns are just a piece to what is truly happening in real estate today. They publicize the negative for their own gain to sell newspapers and skew the true perspective. The truth is that 30% of homes in the U.S. are owned free and clear. The media never talks about this. The majority of homes for sale are not Foreclosures or Short Sales. Bad news is something to talk about create fear and despair.  Don't let them stop you from pursuing a future investment opportunity. The fact is the media has been doing this to the real estate market for decades.

 Some quotes from our infamous media:

"The goal of owning a home seems to be getting beyond the reach of more and more Americans. The typical new house costs $28,000 dollars."
 - Business Week 1969

"Housing experts predict price rises in the future won't be that great. The median price of a home today is approaching $50,000 dollars.
 - National Business Review, New England 1977

 "The golden age of risk free run ups in home prices is gone."

 - Money Magazine 1985

"A home is where the bad investment is!"
- San Francisco Examiner 1996


I don't know about you, but I wish I had invested in real estate in San Francisco in 1996.:)


Shoot me an email to find out more how the power of leverage can work for you!
Click here to get a customized Free Home Search, just for you.
To view my other listings Click here.
Scroll down to the bottom of the page for listings on the Central Coast.


Traci Fergsuon
805-235-6396
traci@traciferguson.com

San Luis Obsipo Real Estate - Income Property Ideas!

If you are a Real Estate Investor, own Rental Property or Commercial Property in San Luis Obispo; how can you increase the income you're getting from your property? Well, read below.

We are all looking for ways to increase income in our resent market conditions in San Luis County. Sometimes the possibilities are right in front of us. Take a moment and look at your commercial property or rental property with a new set of eyes, to see if you can spot any changes that could make you some extra rental income. 

Sometimes owners of rental properties fail to see some obvious money making opportunities in their own buildings. I like to call these updates or changes to increase you income, " Revenue Enhancement Opportunities", for Example:

• If you have an extra storage unit could it be converted to a better income unit than its current use? Could it be modified to an office space for a small business? It could have potential for rent in the hundreds of dollars a month. 
• Do you have a parking garage that has odd shaped corners that are not suitable for parking? Are there potential storage areas that could be rented out to tenants or small businesses?
• Areas of a building that are used for centralized mechanical systems could be consolidated to add a small rentable space.
• An area like an inside refuse area used for all tenants can be moved to the outside of the building. Freeing up that space to be built out to a small office, conference room or rented as storage.

Tour your San Luis Obispo income property with a new perspective to find additional income streams to build your revenue enhancement opportunities. There are numerous opportunities to add rental income without expensive additions to the property.

If you are looking for a rental property or  an income opportunity, email me today to get a list of income producing properties for San Luis Obispo County.  Or go to my website and fill in the Home Search form under my video page.

I'm "Your Realtor that Knows Homes".

San Luis Obispo - Investor Tip: Making it easier to buy a home!

How can home buying be easier in San Luis Obispo? 
In my last blog post I touched on the HomeStyle® Renovation Mortgage. A program available for home buyers or investors who need to make renovations to a home.

A HomeStyle Renovation Mortgage is available to buy or refinance a home (with up to four units) that you will live in as your primary residence.

 Instead of financing the renovation with a second mortgage or home equity loan, you get the lower interest rates of a first mortgage and only have to pay for one mortgage closing. And with a HomeStyle Renovation Mortgage, you can borrow an amount based on the value of the home after the renovations are finished, so you know you will have the funds available to do the job right. For borrowers considering major home improvements, this option provides an effective and affordable way to leverage the future value of a home with a single-close first mortgage.

If you are an investor who is considering purchasing a property that is currently owned by Fannie Mae that is in need of a little work – the Fannie Mae Home Style renovation mortgage (a close cousin to the Fannie Mae HomePath renovation mortgage) is the loan program designed for you.
At closing, all funds for renovation will be escrowed in an interest-bearing account. After all renovation work is complete, any remaining funds in the escrow account will be used to pay down the principal balance of the mortgage.

If this is of interest to you, I can help with finding a Fannie Mae lender partner in your area and find Home Path Properties in the San Luis Obispo County Area. I have the tools and resources to get you a home today. Let me be your Realtor of choice.

I am also available via email for any questions you may have about this or any other program. I look forward to helping you make smart choices.

San Luis Obispo - Home Buyer Tip: Making it easier to buy a home!

How can home buying be easier in San Luis Obispo? 
Well Fannie Mae and Freddie Mac; the two largest purchasers of home loans, set the standards under which they will purchase loans from banks and mortgage companies. They have set up a program to reduce their growing inventory of nearly 1,500 Foreclosed homes called HomePath®

So what's in it for buyers? The benefits include:

• Reduced Home Prices
• Low down payment and flexible mortgage terms (fixed-rate, adjustable-rate, or interest-only)
• You may qualify even if your credit is less than perfect
• Available to both owner occupiers and investors*
• Down payment (at least 3 percent) can be funded by your own savings; a gift; a grant; or a loan from a nonprofit organization, state or local government, or employer
• No mortgage insurance (Typically if you don't put down 20%, you would need it.)
• No appraisal fees
• Also eligible for HomePath® Renovation Mortgage*
• HomePath® Mortgage financing is available from a variety of lenders - both local and national.

*If you're an investor interested in renovating a property in San Luis County, you may qualify for financing under our HomeStyle® Renovation Mortgage product. See my next Blog Post explaining this option.

Currently there are 3 homes available under this program in the city of San Luis Obispo. There are many more in other neighboring cities. Email me today to get a list of homes that qualify in your area. Take advantage of a government program that helps you purchase at bargain prices and extremely low interest rates.

This is just another way to learn and be smart about Real Estate with me at your side. For any of your home buying needs look to a Realtor that Knows Homes in SLO County.

San Luis Obsipo Home Energy Rating System (HERS), New for Buyers!

In San Luis Obsipo we have homes that are Green and made from Sustainable building materials.
The California Energy Commission has released the New Home Energy Rating System (HERS) Booklet. As an ecoBroker®, I am familiar with these homes and they typically have lower energy costs and utility bills, depending on what energy efficiency methods were used on the home.

As a new home owner looking to buy, what information on energy usage can you get for a home you're interested in purchasing? We'll there are new options open to you. The California Energy Commission has released the New Home Energy Rating System (HERS) Booklet.

Why is this GREAT?
1. Well you now have options to add energy efficient improvements at the time of sale. Improvements are completed through escrow and you move in with the new Energy Efficient features already in place.

2. There are options for financing energy efficient improvements and it explains where to find tax credits and rebate information. As your EcoBroker I can also help you with this as an option.

3. You can request utility bills from the existing owner to learn more about what to expect from your future home utility costs, make improvements and make the home more efficient before you move in.

This HERS Booklet is not a mandatory part of escrow or disclosures by an Realtor, but it will be a part of the mandatory Combined Hazards Booklet. As your ecoBroker I have the inside scoop on how to effectively gain more knowledge and put more money back into the buyers pocket through monthly utility savings.

If you are interested in moving or purchasing a home in our glorious City of San Luis Obispo, click here to see available homes. Or email me with any questions you have.

Click here to get a customized Free Home Search, just for you.
To view my other listings Click here.
Scroll down to the bottom of the page for listings on the Central Coast.

The "First Time Home Buyer" definition, may suprize you!

A First Time Home Buyer is not what it seems to define. You would assume the phrase is what it is. But in fact, according to the IRS, anyone who hasn't purchased a home in the past two years would now qualify under the term, "First Time Home Buyer".

Definition: According to the IRS, you qualify as a first-time home buyer:

"if you had no present interest in a main home during the 2-year period ending on the date of acquisition of the home which the distribution is being used to buy, build, or rebuild. If you are married, your spouse must also meet this no-ownership requirement."

Why is this a big deal? Because the government gives first time home buyers deals and breaks that allow for them to buy a home easier than someone who has purchased a home in two years. One of FHA's (Federal Housing Administration) highest priorities is to assist home-buyers with the purchase of their first home. Government programs like HUD/ FHA, are built to accommodate the new buyer with better affordability and qualify for a home. It's a stimulus of sorts to encourage people who would like to buy but think they need 20% down to qualify. Many of these programs only require 3-5% as a down payment to qualify with average to good credit scores.

So now all of you out there that haven't purchased a home in the past two years, you are sitting on a great opportunity to purchase a home at the bottom of the market with record low interest rates.

Click here to get a customized Free Home Search, just for you. 


Give me a call today or email me. I'd love to find your first home!
805-235-6396