| Helping People Live the Paso Style;
Real Estate News, Events, Wine, Food, Living |
May 2010 |
WINE NOTES(Local Wine and Real Estate News)
|
 |
Buy a House and Get $18,000! Not!
Last
month I focused on the Home Tax Credits available to new home buyers
from the US Government as well as California State.
I
thought it extremely important to clarify the status of these programs.
First, as outlined last month the Federal Tax Credits required the
home to be under contract before May 1,  so
everyone is too late for
that program not already under contract. The problem is, you may also be too late for the
California State program as well. Although the California Tax
credit for new home buyers technically doesn't expire until December 31,
2010, California only allocated $100 million which is expected to be
used up by the end or May if not sooner. Obviously it was prudent
for anyone that had an Escrow planned to close during April to delay
that until May to receive the state credit along with the federal
credit. It is believed there are sufficient escrow closings in the
pipeline already to use up a significant portion of the $100 million.
The allocation of tax credit funds for new home purchasers is
expected to last longer, maybe mid to late summer. So there is
still opportunity if you purchase a home that is certified to be new.
|
|
Kentucky Derby at the Kentucky Ranch
The first
Saturday of May each year is the "Running of the Roses", the
Kentucky Derby. Easily considered the biggest horse racing event
in the world and an institution of Kentucky. I had the great
pleasure of watching the Kentucky Derby at
Thatcher Winery this year.
This was the first annual Kentucky Derby celebration at Thatcher Winery
on the Kentucky Ranch west of Paso. For those familiar with the
Adelaida area, the Kentucky Ranch was originally a 4000 acre ranch
one of the original land grants from the Spanish. The ranch as
been subdivided over the years, but the historic KR barn on
Vineyard drive is a symbol of old Kentucky Ranch and now home to
Thatcher Winery.
There can be no better place to drink
good wine (or Mint Juleps) and enjoy the Kentucky Derby in California. |
|
Paso is not just for Wine
Paso is now
well known as a great wine producing area, but Paso is also home
to a great brewery.
Firestone-Walker Brewery located in Paso Robles is becoming
recognized as one of the great mid-size brewers in the nation and world.
They just keep on taking home awards for their fine beer. It's difficult
to keep them straight. The most recent is from the
World Beer Cup where
they won Best Mid Size
Brewery Champion. It's nice having some of the best wines and best
beers in the world so close. Congrats to Firestone-Walker.
|
Quick Real Estate Stats:(California)
|
| |
Median Home Price-
California $301,790 |
Highest Median Home Price
Santa Barbara So. Coast $890,000 |
Lowest median home price
High Desert $122,970 |
Mortgage rates- week ending
4/22/10:
| 30-yr |
fixed |
5.07% |
Fees/points: 0.7% |
| 15-yr |
fixed |
4.39% |
Fees/points: 0.6% |
| 1-yr |
adj |
4.22% |
Fees/points: 0.5% |
|
|
 |
|
|
 As
mentioned above, the original Kentucky Ranch was 4000 acres
and was divided from the original though the years.
The question, what is the minimum agricultural parcel that
is allowed to be created by dividing a property in San Luis
Obispo County (not considering residential subdivision).
| a) | 10 Acres |
| b) | 40 Acres |
| c) | 160 Acres |
| d) | All of the Above |
(Please visit
http://www.pasostyleliving.com for the answer) |
PASO STYLE LIVING REAL ESTATE (Local Real Estate Market Conditions)
|
|
|
 I
believe the local real estate market is stabilizing. The
anecdotal view is more homes are entering the market which are
"normal" sales (not REO or Short Sales). The sense (without
crunching a lot of data) is there are a lot fewer short sales.
REOs are still a major factor, but not impacting the market as
significantly as previously. The stats below are very consistent with prior months and indicate a
slight uptick. Inventory levels are consistent, even with the
added available homes. |
|
Real Estate Up, Down, and Around:
|
|
|
Area(04/1/10-4/30/10) |
Avg Price |
Homes Available | Sold |
Pending |
| Atascadero |
$398,652 |
131 |
33 |
15 |
| Paso Robles |
$314,774 |
244 | 53 |
14 |
| Templeton |
$475,000 |
54 | 4 |
4 |
| All Paso Wine Country |
$349,087 | 511 |
94 | 37 |
| Paso Wine Country contains the following real estate areas (Paso Robles, Atascadero, Templeton, San Miguel, Creston, Shandon, and Santa Margarita) (Single Family Homes, SFRSB)
|
|
REAL ESTATE HOT LIST (Special Properties for Sale in the Paso Wine Country)
|
FOOD CORNER (Personal Recipes and Favorite Restaurants of the Paso Wine Country)
|
 |
Mint Julep
|
| |
You can't have a Kentucky Derby without a Mint Julep.
What has become the iconic drink of the Old South is
very refreshing on a hot humid day. The ingredients are
simple, the style of enjoyment is the critical element.
| |
10 |
Springs of spearmint |
| |
2 tsp |
Fine Sugar (powered or
other fine sugar) |
| |
1 1/2 oz |
Kentucky Bourbon
Whiskey |
| |
|
Spring water (or as in
the South, Branch Water) |
In a High Ball/Tom Collins glass, add the mint
(minus one spring), sugar, and a small amount of water.
Muddle or mash the mint to release the oils and flavors.
Add sufficient water to bring to 3/4 of the glass and
stir. Add the Bourbon on top and garnish the with
one spring of mint.
If you hadn't noticed,
the recipe for the Mint Julep is the same as the Mojito
with Bourbon rather then Rum. My favorite Bourbon is
Makers Mark, but my favorite Whisky is George
Dickel. Maybe a lesson on Whisky is in order next
month.
Enjoy!
| |
|
