ARROYO GRANDE
Since the first of January, 2010, 229 single family, Arroyo Grande homes have sold or are in escrow. 158 Homes sold during the same time period in 2009.
PISMO BEACH
Since the first of January, 2010, 229 single family, Pismo Beach homes have sold or are in escrow. 52 Homes sold during the same time period in 2009.
Higher Limit Loan Amounts Extended – President Obama signed a resolution in September, extending until the end of 2011, the higher temporary $687,500 conforming loan amount for SLO County. Had the resolution not passed, the maximum a buyer would have been able to borrow, at a lower non “Jumbo” interest rate, and would have gone back to $417.000.
This is great news for owners with home values around $860,000, because it will allow a buyer to borrow up to $687,500, with a 20% down payment, at a lower interest rate. This will help homes remain more affordable and ultimately, it will help to stabilize the overall home values on the Coast. Ref: CA Association of Real Estate
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