Helping People Live the Paso Style,  Events, Wine, Food, Living                                                       January 2008

Wine Notes: (Local RE and Wine News)
 The San Francisco Chronicle each year publishes what they consider the Top 100 wines, the prestigious "Best of the West".  Each year the Chronicle Wine section tastes 1000's of wines from around the world,  but based upon their review and collaboration they choose the top 100 wines from the West coast.  Below are the Chronicle's comments on two Paso Wines:: 

2003 Martin & Weyrich Paso Robles Nebbiolo ($18) This Central Coast winery makes one of the best American versions of Nebbiolo, the notoriously difficult variety at the heart of Barolo and Barbaresco. The latest release opens with an unabashedly Californian burst of fruit - rather un-Nebbiolo - but nuanced scents of cranberry, tree bark and cherry lozenge telegraph just how good that fruit is. Just 20 percent new oak, and nearly four years age, give it subtlety that far exceeds its price tag.►
 

 2005 L'Aventure Estate Cuvee Paso Robles ($75) Stephan Asseo left Bordeaux to have the freedom to blend as he liked in the New World. He's more willing to embrace tradition nowadays - and we were charmed by his varietal Cabernet Sauvignon - but his mix of Syrah and Cabernet, with a touch of Petit Verdot, was a winner.
 
San Francisco Chronicle


Quick Real Estate Facts: (Calif)
Median home price - 
    $488,640
Highest median home price
    Santa Barbara So. Coast $1,075,000
Lowest median home price 
     High Desert $262,650
Mortgage rates - week ending 12/20:
  -30-yr. fixed: 6.14; Fees/points: 0.4%
  -15-yr. fixed: 5.79%; Fees/points: 0.4%
  -1-yr.   adj:   5.51%; Fees/points: 0.6%
Website Enhancements:
REO Property Listings Now Available!          Buying Foreclosed (Bank Owned, REO Properties) is one of the best ways of getting those good deals in Real Estate.   Now you can easily view the REO properties  in the Paso area.  This feature is unique and proprietary to http://www.pasostyleliving.com.  Check it out now and call Ron for any assistance.
Cooking Corner:  (Personal recipes and views on Cooking Paso Style)   
One of the number one foods to celebrate New Year's is Black eye Peas.  The belief that eating this staple of Southern Cooking will bring good luck if eaten at New Years has a long history.  No one really seems to know where the tradition started,  but if you enjoy black eye Peas, this is my own  recipe.  This is a variation on what is known in the south as Texas Caviar. 
 
  1 cup cooked Black-eyed Peas
  1 cup Whole Kernel Corn
  1 small can sliced olives
  1 small red bell pepper, chopped
  1 small onion, chopped
  2 Jalapeņo Peppers, chopped
  2 tbsp Lime or Lemon Juice
Combine all ingredients.  Salt to taste.  Serve chilled..

Wine & Local Trivia:
    Since it's New Year's most everyone thinks of Champagne for that festive celebration.  Don Perignon is often credited with inventing the Sparkling Wine we now know as Champagne,   but an Englishman, Christopher Merrett actually invented sparkling wine.  What contribution did Dom Perignon actually make to the development of Champagne.
 
  a) First to Use Black Grapes (Pinot Noir)
  b) Invented Wire Basket for Cork
  c) Dom Perignon was a Marketing Name, He didn't actually exist
  d) None of the Above

(Please visit http://www.pasostyleliving.com for the answer)

Paso Style Living Real Estate: (Real Estate market conditions in Paso Wine Country)
     Everyone has seen the late night TV infomercials on buying properties in foreclosure and getting rich.  I thought it may be helpful to give you the real facts of buying Pre-Foreclosure and Foreclosure Properties. (Third, and last of Series)
    Bank Owned (REO) Properties:  Previously we've discussed Short Sales and Foreclosure Auctions both of which have their problems and risk as methods of buying Real Estate.  When a Lender takes ownership of a property the term used is REO (Real Estate Owned).  The first concept to keep in mind with REO properties is that Banks make money by lending, leasing, or renting money,  not owning Real Estate.  Any property which is on the books of the Bank represents money loss.  This is the opportunity for the wise buyer to get the best real estate deals with safety, buy REO properties directly from the bank.
    In some areas where the volume of foreclosed properties is high for a given lender, they may wholesale these properties as a group to a large investor,  but in almost all cases in the Paso  area, after foreclosure lenders list REO properties with local Real Estate agents,  many of whom specialize in these REO Listings. 
    When we discussed Short Sales I mentioned the emotional connection Sellers have to their property often preventing realistic negotiation.  When Lenders are the Sellers, it's purely a $Dollars and Cents decision.  Since lenders, generally want to sell quickly they will aggressively lower the price until the property sells.     

Area  (12/1/2007-12/31/2007)

Avg Price

Homes Available

Sold/Pending

Atascadero

$507,236

193

23

Paso Robles

$412,861

395

37

Templeton

$490,980

75

12

All Paso Wine Country

$465,738

789

81

Paso Wine Country contains the following real estate areas (Paso Robles, Atascadero, Templeton, San Miguel, Creston, Shandon, Santa Margarita, Bradley, and Chalome) (Single Family Homes, SFRSB)
Ron Johnson
 Broker, RealtorŪ
 (805) 423-1902
 www.pasostyleliving.com