| Helping People Live the Paso Style;
Real Estate News, Events, Wine, Food, Living |
June 2010 |
WINE NOTES(Local Wine and Real Estate News)
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Wine Festifval
This is the season for Wine
Festivals. My two favorites are the Paso Robles Wine Festival
which was held May 21 - 23 and the upcoming
Atascadero Wine Festival June 26. Two fun but also very
different events.
Paso Robles Wine Festival has become one
of the largest outdoor tasting events in the state. It
showcases some Paso Robes wines and is becoming a key tourist
destination event for the area. I'm convinced Paso Robles is
producing some of the best wines in the world for the price point.
In contrast, the Atascadero Wine Festival presents a more "laid back"
image with more community focus. Each has their place, but I
consider Atascadero Wine festival to the the place to sample the wines
of smaller wineries just getting started. It's somewhat the
incubator for future successful wine makers. A chance to taste
good wine and explore wineries before they are "discovered".
Check it out!
Atascadero Wine Festival
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Quick Real Estate Stats:(California)
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Median Home Price-
California $306,230 |
Highest Median Home Price
Santa Barbara So. Coast $879,000 |
Lowest median home price
High Desert $127,300 |
Mortgage rates- week ending
4/22/10:
| 30-yr |
fixed |
4.84% |
Fees/points: 0.7% |
| 15-yr |
fixed |
4.24% |
Fees/points: 0.6% |
| 1-yr |
adj |
4.00% |
Fees/points: 0.5% |
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 Last
month the recipe was Mint Julep and I mentioned whiskey.
Now whiskey isn't a very local beverage, but I'm sure
there is a lot of interest anyway. There are many
different types of Whiskey in the world but they all share
some common components. The following are the most common
types of whiskey and their primary component. The
question is which has the grain component common to all
whiskey.
| a) | Scotch, Barley |
| b) | Irish Whiskey, Rye |
| c) | Bourbon, Corn |
| d) | Jack Daniels, Corn |
(Please visit
http://www.pasostyleliving.com for the answer) |
PASO STYLE LIVING REAL ESTATE (Local Real Estate Market Conditions)
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 Statically,
not much has changed. Real Estate is prodding along.
Some areas of the Country and the State are seeing more pronounced
recovery. Locally some areas show some price appreciation,
but nothing statically significant. Probably the biggest
factor is we still have a low activity market locally.
Beacon Economics presented the San Luis Obispo County Economic
Outlook in Paso Robles. The presentation is located
here. I'll try and recap some of the key points of the
presentation.
First, Although there are many programs
to help people with mortgage adjustments, a significant number
of homes are "underwater" (mortgage is greater than value of
property). In SLO County, about 16% which is good compared to
some areas like Las Vegas where the number is 75% of mortgages are
"underwater".
Second, The key of an economic forecast
is what's going to happen not what's already happened. So,
the key prediction of the Beacon Forecast is Real Estate will have
some improvement in 2010, but high probability of a flat or
slight drop in values though 2012 and real, sustained recovery in
2013. Even then recovery will be slow.
Third,
The message was still very clear. Given the wonderful San Luis
Obispo County area and extremely low (artificially deflated)
mortgage interest rates, NOW! is the time to buy a home. |
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Real Estate Up, Down, and Around:
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Area(05/1/10-5/31/10) |
Avg Price |
Homes Available | Sold |
Pending |
| Atascadero |
$389,236 |
133 |
22 |
18 |
| Paso Robles |
$336,595 |
270 | 40 |
32 |
| Templeton |
$430,000 |
62 | 9 |
7 |
| All Paso Wine Country |
$357,526 | 541 |
77 | 66 |
| 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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Village Café
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Yes, this section of my little newsletter is normally
where I discuss a favorite recipe or favorite
restaurant.
I'm actually making it an
obituary for one of my favorite restaurants.
Village Cafe in Atascadero has closed after over 15
years of serving fine Italian food. The exterior
of Village Cafe was typical strip mall, but the
interior reminded me a small Italian Trattoria.
The food was always good. Service was always
friendly and if you just happened to drop they could
always find a place for you.
Anthony was a very
good chef who was willing to please. If he had the
ingredients he would prepare a special dish to your
liking.
I wish Anthony well in his next
endeavors.
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