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Events:
Fall is a beautiful time in Paso Wine
Country. The grape vines are turning their fall colors. The
weather is cooler, but days are still warm. Most grapes are harvested,
but there are a few stragglers this year. People are starting to think
about the holidays. A time to enjoy family and friends. A perfect time
to relax and enjoy this beautiful area.
The Harvest Festival is over. It was an almost
perfect weekend for Harvest Festival, but it's now time to to enjoy more of
the local fun activities: Time
to enjoy this great area.
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Quick Real Estate Facts:
(Calif) |
Median home price -
$530,830 |
Highest median home price
Santa Barbara So. Coast $1,667,500 |
Lowest median home price
High Desert $271,940 |
Mortgage rates - week ending
9/20:
-30-yr. fixed: 6.40%; Fees/points: 0.5%
-15-yr. fixed: 6.08%; Fees/points: 0.5%
-1-yr. adj: 5.76%; Fees/points: 0.6% |
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Wine
Notes:
(Local RE and Wine News)
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.
Pre-Foreclosure: Let's face it. If you
could sell a home there would be no reason to let it foreclose.
What if you owe more than the home will sell for.
That's known as a "Short Sale". This sounds like a
no-win on the surface, but most lenders do not wish to go
though the Foreclosure process any more than the borrower
does. Quite often lenders will agree to take less than
the amount owed if the borrower can show hardship and the
lenders can be convinced that the home is selling for "Fair
Market Value".
A short sale will have a credit
reporting impact, but is generally less impact than a
foreclosure. It certainly can be a win/win, but there
are some downside issue. For the seller, there can be
tax consequences with Uncle Sam. For the buyer you
have to convince the seller and the lender that they are
receiving a fair price. This may be more difficult than
it sounds. Sellers still have an emotional attachment
to their home and can be difficult to negotiate with.
Lenders may not be easily convinced to take the loss unless
they are already close to foreclosure.
More Foreclosure information next month! |
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Cooking Corner:
(Personal recipes and views on Cooking Paso Style)
It's November, which means cooking has to center around the
gobble, gobble! Turkey. This is how I cook a turkey Paso Style.
The day before bring to boil 1 gallon of chicken stock, 1 cup
salt, 5-7 cloves of garlic, 2 tbls of Allspice, 1/2 cup brown sugar. Allow
to cool fully. Place the turkey, breast down in a 5 gallon paint
bucket, add the chicken stock, add sufficient ice to cover. Allow to
marinate overnight.
Using the Wine Barrel Smoker described in the
August 2006 Newsletter, smoke the turkey until
done, Internal temperature of 180 degrees. This will probably take about 6
hours for an average turkey.
Turkey cooked this ways is some of the most flavorful and
juiciest you will ever have. Just think of how much wine you can enjoy
watching it cook. |
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Wine
& Local Trivia:
A very common term on wine
labels is the simple expression "Table Wine". In
Europe this expression would mean wine which was not of
sufficient quality to receive the appellation or even
regional designation. In the US there is a legal
definition for "Table Wine". What is the meaning of Table
Wine on a US Wine Label?
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a) |
Same as Europe,
Poorer quality Wine |
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b) |
Still, Non
Fortified Wines |
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c) |
Non-Vintage Wine |
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d) |
None of the Above |
(Please visit
http://www.pasostyleliving.com for the
answer) |
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Paso
Style Living Real Estate:
(Real
Estate market conditions in Paso Wine Country)
Everyone
has read the Real Estate press lately. Sales are down, Prices are
down, You can't get a loan. Yes, Prices are down because
Sales and down, but if you have reasonably good credit you can get
a loan. So why all the doom and gloom, Fear. Fear of
recession, Fear of a further downturn in prices, Fear of Fear
Itself. Remember the FDR's quote, "There is nothing to fear,
but fear itself" That's what we are facing now!
Right now, the Paso area has some of the best Real Estate
bargains in the state. Paso Robles is growing due to it's
discovery as a great wine area. My opinion, it is one of the best
places to live, "Darn Near paradise". There are some great deals
to be found with a little looking. Contact me for a listing of
Foreclosure Properties.
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Area
(9/1/2007-9/30/2007) |
Avg Price |
Homes Available |
Sold/Pending |
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Atascadero |
$505,983 |
245 |
21 |
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Paso Robles |
$442,191 |
447 |
48 |
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Templeton |
$677,889 |
94 |
13 |
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All Paso Wine
Country |
$527,483 |
930 |
91 |
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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) |
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Ron Johnson
Broker, RealtorŪ
(805) 423-1902
www.pasostyleliving.com |
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