April 2024 Real Estate News

{original post 7/30/2024}

Hello! Thanks for tuning in to this month’s newsletter. Our goal is to bring you valuable real estate content and local updates, so we hope you enjoy it! 

In this e-newsletter, we will provide a market update for our county, share about utility assistance programs for low-income residents, feature our latest episode on The Happy House Hacking Podcast, and share a recent story about a local dream coming true by Dream Makers. We are always here to offer encouragement and support in your real estate journey.

The Schwaegerle Team strives to educate and empower all people on the ins and outs of real estate, so thank you for tuning in and following the team on social media!

Housing News for SLO County

What is with this market? Is it going up, down, or sideways? Are prices crashing and people losing their homes? Not exactly. Prices have plateaued and are hovering around a median sales price of $850,000 for SLO County. This is higher than the median price of a home in California. 

Does this mean I should wait to buy a house until rates come down or the market crashes? No! Please don’t wait. The cost of owning a home is only going to go up. If you are renting right now, it’s time to seriously consider how the cost of renting at an “affordable” rate is actually more costly to you in the long run. The cost of homeownership is only going to rise, as we’ve all seen firsthand in just the last five years. Even Barbara Corcoran is saying that now is the best time to buy, and all buyers must find a way to scrape together enough cash, budget, save, and get into a home as soon as you can!



Take a look at the snapshot of the inventory below. From 2012 to 2020 SLO County consistently had about 1,000-1,500 residential listings on the market at any given time. Since the pandemic, record low mortgage rates, and population growth in our county (due to people relocating out of major metros in California), we have seen inventory stay low. 

As of the end of March, we had only 486 active listings available. This further adds to the case that the cost of ownership is only going to increase. We simply do not have enough supply of homes available to bring down prices in a meaningful way. Rather than wait to buy real estate, buy real estate and wait! You will see massive equity growth the longer you are in the market. For example, the average net worth of a homeowner in America right now is about $300,000!  



What does all this mean for you? We believe in real estate ownership as the ultimate wealth building tool. If you haven’t gotten into the market yet, what is holding you back? We are meeting with buyers every single week, and several of them have never purchased before. We can meet with you and help you make a plan too! 


If you already own a property, we are so stoked for you. Maybe it is time to start considering a second home. Maybe an investment property. Maybe upsize into your dream home! Whatever the case may be, if you are thinking about making a move soon, schedule a consultation with us today through Calendly.

Utility Assistance Programs for Low-Income Residents

Did you know that there are utility assistance programs for low income residents within our communities? With the cost of inflation running rampant through society, paying for rent, mortgages, groceries, and even utilities can feel overwhelming. The good news is that there are programs available in our community to help people in need.CAPSLO received federal funds to operate the Home Energy Assistance Program (HEAP) for SLO County. HEAP can issue funds to help qualifying low income households with their utility bills once per year. Eligibility is determined by household size, income, and prioritized by households of seniors and families with children.The city of San Luis Obispo offers an Income Assistance Program offering a 15% reduction of the standard rate for water and sewer for qualified, low income customers.  They also offer customers who are eligible to have one billing period paid depending on the availability of funds once every 2 years. Los Osos also provides something similar. Once they introduced their new sewer system a few years back, it added a special assessment to everyone’s property tax bill. This new sewer assessment increased everyone’s expenses by ~$200+ per month! Los Osos provides financial assistance up to 50% of the annual sewer service charge to low income households in the Los Osos community. Feel free to check out the links to see if you or anyone you know would qualify or benefit from these programs.

The Happy House Hacking Podcast: Choosing the Right Rental StrategyDo you want to learn more about real estate investing?

You are invited to the next SLO Real Estate Investor Meetup! We meet the second Tuesday of every month at 6 PM. 

If you’d like to meet people who are actively investing in real estate on the Central Coast, then we’d love to have you come to one of our Meetups. You can join the FB page here or send us a message if you’d like to be added to the invite list!

Dream Makers: Making a Difference in Our Community

Did you know that The Schwaegerle Team donates 2.5% of every transaction to Dream Makers? Dream Makers is a local nonprofit that helps make dreams come true for terminally ill adults in our community. 

We are saddened to share that the terminally ill woman we spoke about in last month's newsletter has passed away. Dream Makers had the pleasure of fulfilling her lifelong dream of seeing Wicked on Broadway. With the help of Ambiance and Wildflower Women, local clothing boutiques in downtown San Luis Obispo, they surprised her with a backstage tour to meet the cast. We are so thankful and proud to be part of a group that helps make dreams come true and happy memories for everyone involved. We want to express gratitude from the bottom of our hearts for continuing to choose us as your Realtors for life. If there are any questions you have about Dream Makers, or if you would like to get involved with this incredible organization, please reach out to us!

Coming Soon

3 bed/2 bath fixer upper in Los Osos - $599,000
3 bed/2 bath manufactured home in SLO - $320,000
3 bed/2.5 bath home in Cambria - $850,000
2 bed/2 bath home in Pismo Beach - $950,000
2 bed/2 bath manufactured home San Luis Obispo - $280,000

Current Active Listings 

1981 Green St, Cambria - Multifamily Zoned 1.25 acre Lot Senior Affordable Apartment project
1680 Main St #32, Morro Bay - 2020 new, small trailer in 55+ community
2537 Shoreline Dr. Bradley - 4 bed/2.5 bath home in Oak Shores, Lake Nacimiento
717 Marquita Ave. Templeton - 55 Acres of flat land next to Tin City

Current Pending Listings

8850 El Camino Real #1, Atascadero - Manufactured tiny home! 
680 Chorro St #17, San Luis Obispo - Cute townhome in downtown SLO
1469 Mercer Ct, Santa Maria - 3 bed/2 bath quiet cul-de-sac 
432 Palomino Ln, San Luis Obispo - 3 bed/2 bath single family home
5255 Escarpa Ave, Atascadero - 4bed/4bath Atascadero Estate
2475 Victoria Ave, San Luis Obispo - 2 bed/2 bath new construction condo

Just Sold

957 Calle De La Rosa - 3 bed/2.5 bath in Rice Ranch, Santa Maria
2114 Fallen Leaf - 5 bed/4 bath, 4,102 SF, beautiful Santa Maria home
1208 Pismo Street -  4 bed/3 bath downtown SLO victorian home 
4358 Franklin Rd, Orcutt - 4 bed/2 bath with big yard
1471 La Loma - 4 bed/2.5 bath on a 1 acre lot
3860 S. Higuera #125, San Luis Obispo - 3 bed/2 bath mobile home, pending in 7 days!
3211 Fennel Lane, San Luis Obispo - 3 bed/3.5 bath townhome in the Avivo Community
5280 Windmill Way, San Luis Obispo - Great house hack in Edna Valley! 
5430 Whispering Oak Way Paso Robles - Buildable vacant land in Jardine
13190 Cambria Rd, Santa Margarita - 2 bed/2 bath manufactured home on 2.55 acres with seller financing 
1638 7th St, Los Osos - 3 bed/2 bath home in Los Osos with beautiful yard
3355 Greenacre Dr. Santa Maria - 3 bed/2 bath manufactured home on OWNED land 

Let's Be Social

Thanks so much for reading our newsletter this month! We want to hear from you! Please let us know how we can support you on your real estate journey. Whether you just purchased a new home, want to explore home-buying options, are curious about what your property might be worth, or just want to know more about the market, please reach out! 

@theschwaegerleteam
@your.realtor.slo
@kylereis70

You can also follow us on YouTube and Facebook for more updates throughout the month.
The Schwaegerle Team donates 2.5% of all transactions to Dream Makers. Thank you for helping make dreams come true for terminally-ill adults in SLO County!