| Helping People Live the Paso Style;
Real Estate News, Events, Wine, Food, Living |
August 2010 |
WINE NOTES(Local Wine and Real Estate News)
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Real Estate Agent
Why are Real Estate
Professionals called "Agents". It's really based upon the legal
concept of "Agency". Clients are also called "clients" rather than
"customers" due to this same legal concept of "Agency". The reason
for this discussion is most people do not understand the legal duties of
a Real Estate Agent and who they truly represent, and for good
reason. Client representation has changed over the past 20 years
plus. Prior to the 1990's Buyers were not clients, but were
"Customers". Meaning, prior to this timeframe a Buyer truly had
NO! representation in the Real Estate transaction. Both Listing
Agents and Selling Agents were both considered to be "Agents" of the
Seller. As "Agents" of the Seller, both agents owed a Fiduciary
responsibility only to the Seller. Although most people purchasing
a home were never told this little fact, but the Real Estate Agent
who they thought was their trusted advisor was really legally working
for the Seller.
So what has changed? Laws and accepted practice have changed.
Today, we have the concept of Buyer's Agent. A Buyer's agent
owes a legal (Fiduciary) responsibility to the Buyer regardless of the
fact that the Seller's commission is their compensation. That's an
important change. It means that an Agent representing the Buyer
legally owes the Buyer a fiduciary responsibility, "The
agent is expected to have expertise and skill in real estate matters
superior to that of the average person and
is to use
those skills to the advantage of the principal".
The last concept is that of "Dual Agency". It's legal is
California, but advised against that a Real Estate Agent may represent
both the Buyer and the Seller in a transaction. But think about
it. It's like an Attorney representing both the Plaintiff and the
Defendant. It's technically impossible to owe a full fiduciary responsibility
to both parties. In many states it is either illegal or both
Seller and Buyer acknowledge that the Agent owes neither a Fiduciary
Responsibility.
Many people will seek out the "Listing Agent" for the property
thinking they will get a better deal. Legally, the "Listing Agent"
is more restricted in what they can tell a Buyer due to their fiduciary
responsibility to the Seller first. It's more advisable to
chose a qualified Real Estate Agent first and then use them to find a
property. Seldom will anyone get a better deal dealing with the
Listing Agent and by definition will get less service.
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Quick Real Estate Stats:(California)
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Median Home Price-
California $311,950 |
Highest Median Home Price
Santa Barbara So. Coast $914,760 |
Lowest median home price
High Desert $125,620 |
Mortgage rates- week ending
7/22/10:
| 30-yr |
fixed |
4.56% |
Fees/points: 0.7% |
| 15-yr |
fixed |
4.03% |
Fees/points: 0.7% |
| 1-yr |
adj |
3.70% |
Fees/points: 0.7% |
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 Zoning and Land Usage have dramatic effects on Land value.
Those values can shift dramatically with demand of a particular land
usage type and the economy. Land price evaluation is based upon
the term "Highest and Best Use". Assuming you have a parcel in
Paso Robles that is 3 acres in size and each has a location appropriate
for for their usage. Which of the following Land Usages would have
the highest value (vacant)?
| a) | Agricultural |
| b) | Commercial/Retail |
| c) | Multi-Family (Apartments or
Condos) |
| d) | Single Family Residential |
(Please visit
http://www.pasostyleliving.com for the answer) |
PASO STYLE LIVING REAL ESTATE (Local Real Estate Market Conditions)
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 Double
Dip. The news is full of predictions of a Double Dip.
So what is a Double Dip. A Double Dip or "W" recovery is where
the economy after experiencing a short recovery dips again.
The problem is these predictions are all doom and gloom oriented.
Well, I do believe in the Double Dip or "W". I personally
think that all recoveries have a spurting start. The positive
I see is that we are in the second dip now. I think it's going
to be a tough Summer, Fall, and into Winter, but Spring 2011,
we should see some real recovery starting.
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Real Estate Up, Down, and Around:
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Area(07/1/10-7/31/10) |
Avg Price |
Homes Available | Sold |
Pending |
| Atascadero |
$373,776 |
130 |
23 |
21 |
| Paso Robles |
$370,008 |
285 | 37 |
35 |
| Templeton |
$418,651 |
61 | 8 |
6 |
| All Paso Wine Country |
$361,776 | 567 |
84 | 70 |
| Paso Wine Country contains the following real estate areas (Paso Robles, Atascadero, Templeton, San Miguel, Creston, Shandon, and Santa Margarita) (Single Family Homes, SFRSB)
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REAL ESTATE HOT LIST (Special Properties for Sale in the Paso Wine Country)
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FOOD CORNER (Personal Recipes and Favorite Restaurants of the Paso Wine Country)
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Garlic and
Gorgonzola Roasted Pork with Viognier Sauce
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This is a dish I developed a few years back. If
you like garlic and flavorful cheese, try it sometime.
Preparation isn't easy, but the flavors are
fantastic.
| 1 |
Pork Tenderloin, Whole |
| 8 oz |
Crumbled Gorgonzola Cheese |
| 4 |
Sprigs fresh Tarragon |
| 8 |
Cloves of Garlic |
| 2 tbs |
Olive Oil |
In advance lightly roast 8 garlic cloves until tender.
Prepare the tenderloin by butterfly slicing and
pounding between Swan Wrap until it's about 3/8 inch
think. Season the tenderloin with salt and pepper.
Finely chop the garlic and spread evenly over the
flatten tenderloin. Now add the crumbled
Gorgonzola and top with the tarragon after de-stemming
and crushing. Gently roll the tenderloin into a
tight roll securing with cotton butcher's twine.
Heat the olive oil in an over capable skillet
and brown the tenderloin roll on all sides.
Transfer to a preheated (350 degrees) for about 30
minutes or when the internal temperature reaches 140
degrees.
While the tenderloin is cooking,
it's time to make the sauce.
| 4 |
Cloves Garlic |
| 1 cup |
Viognier, You could use
another white wine, but it will not have the
same flavor characteristics. |
| 1 cup |
Fresh Cream |
| 4 oz |
Gorgonzola Cheese |
| 1 oz |
Butter |
Finely chop the garlic, over low heat add
butter and garlic to a heavy sauce pan. When
garlic is softened, add the wine and simmer for about 5
minutes. Reduce the heat and gradually add the
cream while stirring. Raise the temperature and
reduce by 50% being careful not to burn.
Reduce
the temperature and slowly crumble the cheese into the
mixture. Reduce until you have the desired
consistency.
Enjoy! | |
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