A Glimpse of San Luis Obispo Real Estate

May 24, 2011 - PRLog -- SAN LUIS OBISPO, CA – San Luis Obispo was recently coined as one of “the happiest places on earth,” but with the continued decline of home prices and increasing number of distressed sales, the San Luis Obispo housing market makes homeowners ask, “Are we the happiest place after all?”

Nearly forty-five percent of closed sales in San Luis Obispo County over the past six months were distressed sales.  In the City of San Luis Obispo, thirty-one percent of closed sales were also some type of distressed sale.  These types of sales continue to rise because sub-prime loans are still in effect.  Dawna Davies, owner and broker of Davies Company Real Estate, believes that distressed sales will continue to dominate the market for another year and a half minimum.

What’s the upside? Homeowners that were crippled by the current housing dip are walking away with a more stable financial future because there is less stigmatization for those seeking resolutions through short-sales and foreclosures.  Those seeking to make their first real estate purchase are proceeding cautiously because they have seen the struggles of those in distressed situations.  For rental property investors, as the rate of homeownership is decreasing, rent prices are increasing and are expected to rise.

The San Luis Obispo housing market presents opportunities for many, even though the numbers may be discouraging.  Recently, Davies was on The Dave Congalton Show discussing the market’s current conditions and what people can do to use it to their advantage.  

“It is really important for us to look long term.  Are you willing to have a nice home and something to live in even though you may not be trying to make a profit?  That alone is a compelling enough benefit to pursue…  There is another bundle of benefits that comes with homeownership,” said Davies during the interview.

To hear the full interview, visit http://edbroadcasters.com/podcasts/congalton/04-29-11.mp3

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Dawna Davies joined the Davies Company in the early nineties and is now owner and broker. She has over 25 years of experience in the sale of homes, investment properties and property management in the San Luis Obispo County area. She is a single–sided broker and has signed over 4,000 closed sales, purchases and leases in her real estate career. For more information, visit www.daviesco.com/ or follow her on Twitter @DawnaDavies.