May 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.  Also, we want to hear from you! What type of content or updates would you be interested in hearing more about?

In this e-newsletter, we will provide an outline on how to upsize or downsize, feature our latest episode of The Happy House Hacking Podcast, invite you to our next investor mixer, and share about the good work Dream Makers is doing in our community. 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! 

Downsizing or Upsizing

Did you know that 30% of all buyers are also sellers? The traditional home seller is also a traditional home buyer. If someone owns a home and they need to sell, they also need a new place to go. There can be all sorts of reasons for people needing to move. A number of reasons we are seeing right now are that people are exiting California either by selling a rental or upsizing/downsizing. When you are looking to make a move like that, it’s best to be prepared and know your options for how to make this big move. There are really five primary strategies that you can use in the traditional upsize or downsize situation.

 The Five Ways to Move from Your Current House to Your New Home 

Buy First, Sell Second: Must be able to financially qualify for a new home purchase while keeping the original house
Buy First, Turn Current House into a Rental: Lender may need to see a lease
Sell and Buy Simultaneously: Sell current house and buy new home same day
Sell First, Buy Second and Lease Back Current House: Great option that requires the right buyer
Sell First, Buy Second and Find Temporary Housing: Live with family or secure a short term rental

Downsizing - Things to Consider

Capital Gains

Did you know that when you sell you have to pay capital gains tax? However, if you are selling your primary residence, you get up to $250,000 capital gains tax free as an individual and $500,000 as a married couple.

One of the requirements is that you have to have lived in the property for 2 out of the last 5 years. That means you could move out of the property, rent it for a little while, and then sell it within 5 years of moving out as another option.Property Tax Transfer

Did you know that if you are 55 years or older you can transfer your Prop 13 property tax basis anywhere in the state up to three times?

We have helped multiple clients relocate to the Central Coast from all over the state using this strategy, and it has saved them up to $8,000 annually on their property taxes!

Interest Rates

Do you own your property free and clear or do you still have a mortgage? Many people are worried about selling their current property and losing their great interest rate. The question to ask is how much equity do I have to work with and can I find a home that better fits my family’s needs that I could purchase for all cash?

Current Market Value of Your House

It is important to know how much you will walk away with after the sale of your home. To find this out, you will want to have an agent meet with you to walk you through a net sheet, so you can see what you will have to work with if you are making a move. We’re always happy to provide complimentary consultations to evaluate the current market value. 

Finding a Property That is Suitable to Your Aging Needs

A great agent will sit down with you to do a buyer consultation to help you find the perfect property that suits your needs.If you want only single level homes, we have the ability to filter for that through our Multiple Listing Service criteria. Our data and technology can help you find better homes!

Selling "As Is" to Reduce Your Burden to Get out of the Property

Are you bogged down by deferred maintenance? Sometimes our clients don’t have the capital to invest in their home to fix it up. Therefore, we can do an as-is sale by paying for reports on the front end and helping disclose the condition to all prospective buyers. This way you get a clean offer from a potential buyer.

Is it worth fixing up the house before you list it? It depends. Some items can give you a good ROI, such as new paint and carpet. However, some items may take more time and money than it is worth. This is where consulting with a great listing agent can help.

Do you need to declutter? After living in a home for a number of years, precious heirlooms and artifacts can start to accumulate. What is your gameplan for your possessions? Do you have to keep everything, or can you do an estate sale to let it go? We can connect you to an estate sale specialist who can help you facilitate the sale of valuable items. Or do you simply want to just put your items in storage? We got you covered there, too!

Local Events

SLO Greek FestivalJune 1 @ 11:00 am - 7:00 pmMadonna Meadows, 120 Madonna Road San Luis Obispo, CA 93401 United States 



The free two-day festival will be held at the Madonna Expo Center from 11 a.m. to 7 p.m. on Saturday, June 1, and 11 a.m. to 5 p.m. on June 2. Feast on authentic Greek cuisine, enjoy traditional dancing, listen to Greek music and learn about Greek culture. Entrance and parking is free! Find out more about the festival on the website greekfestivalslo.com.

For more local events visit the San Luis Obispo Chamber of Commerce website here.

The Happy House Hacking Podcast: Navigating Real Estate Realities as a Buyer

Do 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. Our last meetup featured a special guest, Michael Stoltey, a local real estate developer with a passion for building and redevelopment. We had a great turnout too, with over 30 attendees coming to the meetup at the Quality Inn & Suites in San Luis Obispo. Michael shared invaluable insights from his extensive experience, offering attendees a firsthand look into what it takes to invest in real estate through development.For a full recap of the meetup and to see what Michael Stoltey had to say check out the YouTube link here.

Dream Makers: Making a Difference in Our Community

Exciting news! We have joined the board of Dream Makers SLO! We are honored by this appointment, and we are excited to continue to serve even more people in our community who are experiencing terminal illnesses. We will continue to keep you updated on even more dreams, and now we get to be an active participant in helping those dreams come true. If you want to learn more about this organization or be a part of it, let us know! We’d be happy to put you in touch with the Founder.

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

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

512 Palomar Circle, Lompoc - Stunning 3 bed/3 bath close to Vandenburg 
5255 Escarpa Ave, Atascadero - 4 bed/4 bath Atascadero Estate
1172 Oceanaire Dr, San Luis Obispo - 2 bed/ 2 bath unique condo
2 Gaviota Trail, Santa Margarita - 20 acres of buildable land
200 E Hermosa St, Santa Maria - 2 bed/1 bath Spanish style home
3500 Bullock Ln #53, SLO - 2 bed/2 bath mobile home in Willow Creek Country Estates

Just Sold

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! 
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 
680 Chorro St #17, San Luis Obispo - Cute townhome in downtown SLO
2475 Victoria Ave, San Luis Obispo - 2 bed/2 bath new construction condo
432 Palomino Ln, San Luis Obispo - 3 bed/2 bath single family home
909 E Rose Ave, Santa Maria - 3 bed/2 bath walking distance to parks!

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