If you’ve ever dreamed of planting a vineyard and making wine, this Kiler Canyon property could be the one for you.
This is a spectacular opportunity in the Premier West-side Paso Robles AVA Vineyard area to own 2 homes on 11.2 acres.
Situated among some of the area’s most acclaimed vineyard sites such as Terry Hoage, L’Aventure and Derby is a spectacular 11 acre parcel with main home and rental unit.
Live in the main home, rent the second and start planting your dream vineyard and planning your winery site. Main home boasts 3 beds / 2 full baths and a magnificent Ranch House setting. Rental is a farm home built in 1930’s with barn/ shop and nearly 10 plant-able acres of prime vineyard land.
Take advantage of rental income now and realize the potential value of land with a premium vineyard site.
Curious to see the home? Email me now or take the virtual tour and then schedule a private showing.
With all the happenings going on in downtown Atascadero, such as the reopening of City Hall, the Rotunda, the Centennial Celebration, Cruise Night, and the start of a new school year, it is easy to get caught up in the swirl of activities. But, in one of our newest neighborhoods –Las Lomas, there are new homes being built and offered for sale in the newest development called Vista Dorada at Las Lomas. For Central Coast home seekers who are in the midst of an Atascadero property search, this is great news.
I stopped by this weekend to preview these new homes for my clients and met the nice folks in the sales office. According to the sales manager, the first homes are expected to be completed by December of 2013. When I met with sales manager, he told me that so far they’ve sold 6 homes, have 3 under contract and have another 4 available for sale. They are also taking reservations for future homes to be built.
The Vista Dorada Homes are beautiful and offer a selection of floor plans based on Spanish, Ranch and Traditional architectural styles. They range in sizes from 3 beds /2.5 baths at just over 2,000 square feet to a 4 bed/3.5 bath model at just over 2500 square feet in size. The homes are all single story, feature 9 foot ceilings and some floor plans offer a separate but connected suite for extended family living arrangements. The stainless steel appliances and granite slab counters add a level of contemporary luxury to the large spacious kitchens.
These new homes are incredibly energy efficient with extensive insulation, tankless hot water heaters, low flow toilets and drought tolerant landscaping. The health and safety features include hardwired smoke and carbon monoxide detectors, concealed fire sprinklers and fresh air exchange integrated into the HVAC system. Current pricing on these homes starts in the mid $400s.
If you would like to preview these homes, I can help you. You have to go through the sales office to see the homes and the agents in the sales office are very nice, — and they work for the builder. If you want someone to look after your interest in the deal and who knows the questions to ask the builder then let an experienced Broker go with you and represent your interests —remember, I work for you.
Do you remember when “Flipper” was a fish? I do. As the SLO County real estate market heats up we are seeing more and more ‘flipped’ homes. A ‘flipped’ home is a home that is purchased, refurbished and hopefully sold for a profit. There are lots of television shows out there that make it look fun, easy and glamorous. But, if you have ever refurbished an old home or did a ‘flip’ yourself, you know that it can be both a challenging and rewarding experience. I predict that we will see more house flipping in the near future as housing prices continue to climb and the lack of new construction in recent years will make this real estate play a popular move again. Here are a couple of good tips that I like to share with my clients who are searching SLO county homes for sale. If you are thinking of refurbishing a property and selling through a Realtor, you’ll want to disclose these things to your perspective buyers.
Who did the work? Was it a licensed contractor or a friend of a friend?
Did the permits get pulled to do the work?
Do you have receipts for materials and work?
Did electrical or plumbing systems require upgrades to accommodate new amenities?
Are there structural problems?
Does any of the work come with a warranty?
Did you have an experienced home inspector check the work?
Many of these questions are things that I would encourage my client to investigate regardless of whether or not the home was a flip. However, in the case of a refurbished home the seller may not have lived in the home for an extended period of time and may not be aware of all deferred maintenance issues. There is an interesting article about this issue fromMarket Watch; to read the article click here. The bottom line is to always do your homework and investigations. There are a lot of historic properties on the Central Coast and many of them just need someone to come back in, show them some love and make them into a special home again.
I can’t believe the sudden increase in questions and inquires regarding 1031 exchanges from clients who are thinking of selling SLO County properties as well as investors who are in the market for SLO County vacation homes. I’m not sure if this rise in inquires is due to changes in last years tax laws, a reflection of the growth in the housing market, more boomers starting to retire or just an overall feeling of the economy. Maybe it’s a combination of all the above. Whatever it is I am seeing an increase in the viability of doing a 1031 exchange.
A 1031 exchange, as defined in the tax code, is the exchange of certain types of property that may defer the recognition of capital gains or losses due upon sale, and hence defer any capital gains taxes otherwise due.
In a 1031 exchange the first deadline to be met is the the 45-day Identification period. The identification of replacement property document must be postmarked or received by a qualified party on or before midnight of the 45th day after the close of escrow on the property you are ‘exchanging’.
The key words in this are qualified party. In order to do a 1031 exchange properly you need some help There are a couple of key players that I turn to in the area when I have a client who is working with a 1031 exchange. My go-to company is First American Title Company, they have a 1031 exchange division that can help you and answer questions. Some other resources to consider are Exchange Resources, Inc out of San Diego and Jay Peet of Investment Property Exchange Services. I may be an expert in real estate matters but when it comes to tax or legal issues I strongly suggest that you work with professionals that can provide you with the right information to make the best decisions.
I started following the Howard Jarvis Taxpayers Association several years ago as a way to provide information to my clients who were doing a search for SLO County property or those who were thinking of selling SLO County property.
I’ve also been keeping up with the issue of Senate Bill 391by Bay Area Senator Mark DeSaulnier, which places a $75 recording tax on documents filed in county recorder offices for items ranging from construction and business loans, liens and documents associated with refinancing. The costs can escalate rapidly because the tax is based on each filing. For example, refinancing a home can easily require up to six different documents to be recorded with the county. This would result in a $450 tax hike per transaction.
To learn more about this important legislation and what our legislators are doing to try and get it passed click here.
There are some key questions you have to ask yourself if you are planning on selling your SLO County home in the near future. The price of the home is only part of the equation. Another key part of the equation is time. How much time do you have? What is the cost of that time? How much could more time cost you?
Here’s a fact to consider: according to the California Association of Realtors® the driving factor for 38% of all buyers is a price reduction, followed by 12% who buy based on favorable pricing and financing. The Wall Street Journal has an interesting article on pricing strategies and behavioral studies; to read the article click here.
The best strategy is to prepare your home for optimal sale, get as much information on the market and homes that you will be competing with and develop a pricing strategy that works best for your time frames.
Here is a great article on some key items to focus on if you are preparing to sell your Central Coast Home. I couldn’t agree more with this list – they are often the things that buyers ask about when they first get into the home.
The city of Richmond, California is being sued by a number of banks that represent some of the countries largest bond investors. They want to stop a move by city officials to seize and buy mortgages using the powers of eminent domain. For those of you not familiar with eminent domain, let me enlighten you. It is (in my humble opinion) one of the most forceful, damaging and questionable Police Actions that can be taken by our government. It’s the ultimate violation of property rights and an assault on the core character that gives true value to our economic system in the world. To read the story click here.
In essence, eminent domain is the ‘Taking’ of your property by the state (township,city,county,state,country), if the state feels that they have a use for the property that is for a valid public purpose and adds value to surrounding properties.
We have a number of property rights issues before us in San Luis Obispo County and they are on the minds of clients who are searching for homes in Paso Robles, Templeton and A-town. We have seen the issue of Ag Cluster ordinances being debated and tabled for later consideration, water rights are being debated in Paso Robles and smart growth initiatives that present new challenges in deciding how we will grow as a county continue to get discussed. It will be important to monitor these cases as municipalities look for creative ways to support their bloated budgets. Or, as my father would say – ” don’t let the camel get his nose under your tent – you’ll never get him out”. I’m still not sure what that means but I think it can be applied here.
We’ve all been there before: dancing away under the spinning disco balls, the music pounding and the lights flashing when the music stops and the house lights go on. Nothing kills the mood quicker, because under the bright lights, we are jolted back to reality.
Last week, the real estate market found itself in a similar situation. Usually a willing dance partner, the Federal Reserve was uncertain whether it would continue its economic stimulus program, known as quantitative easing. The impact on interest rates is clear. The increase is the largest weekly increase in more than 26 years. The rate rose from 3.5% to 4.46%; the extra percentage point will cost borrowers an additional $56 a month on every $100,000 they borrow.
Two other events are impacting the celebratory mood in the market. The first is the likely increase in property taxes for home owners in San Luis Obispo County. With an average increase of 8% in home values, homeowners who have been taking advantage of decline-in-value-assessment could see their property taxes increase on average of 2%. Conversely, prices continue to increase. In April, 20 cities reported record monthly increases in property values and in SLO county, we continue to see prices rise.
These three events could indicate the end of the party, but it’s more likely that they offer a reality check. If you’re in the market to buy, keep in mind that while interest rates have increased, they are still at a historic low. Remember, the real estate market is a living breathing entity with numerous variables.
“This Wednesday, the 6th of June, the Western democracies will commemorate the Normandy invasion that marked the beginning of the end of Fascist tyranny in Europe. On the same date, Californians will also celebrate a second liberation, the passage of Proposition 13 which 35 years ago reined in the onerous property tax system and made the passage of new taxes more democratic.”
The Howard Jarvis Taxpayers Association is dedicated to the protection of Proposition 13 and the advancement of taxpayers’ rights, including the right to limited taxation, the right to vote on tax increases and the right of economical, equitable and efficient use of taxpayer dollars. To read this article from Jon Coupal and to learn more about the Howard Jarvis Taxpayers Association click here.
If you’ve ever dreamed of planting a vineyard and making wine, this Kiler Canyon property could be the one for you.![shutterstock_74915158[1]-crop](https://kenbryantre.wordpress.com/wp-content/uploads/2012/12/shutterstock_749151581-crop.jpg)
Ken Bryant, Real Estate Broker 