September 2024 Real Estate News

{original post 10/21/2024}

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. 

We would also love to hear from you! Let us know what type of content you’d like to see more of in next month’s newsletter!

In this e-newsletter, we will share more about the new FHA 100% financing down payment assistance program, highlight a wonderful event for a great cause, share the latest episode of The Happy House Hacking Podcast, and invite you to our next investor mixer!

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! 

Unlocking Homeownership: FHA 100% Financing with No Down Payment

Dreaming of owning a home but worried about the down payment? You're not alone—many potential buyers find that saving for a down payment is one of the biggest obstacles to homeownership. But what if there was a way to make that dream a reality without having to save up for a hefty down payment? The FHA 100% Financing Down Payment Assistance Program is designed to make homeownership more attainable than ever before. Whether you’re a first-time buyer or simply exploring flexible financing options, this program might just be the game changer you've been looking for.

Understanding FHA Loans and Down Payment Assistance

FHA loans, backed by the Federal Housing Administration (FHA), are created with the goal of helping individuals with limited funds or lower credit scores achieve homeownership. The FHA 100% Financing Program goes a step further by offering complete down payment assistance—covering your down payment through a combination of a 1st and 2nd mortgage. Imagine buying a home without needing any upfront down payment! With over 48,300 people already benefiting from $417 million in assistance, this program is truly opening doors for many.

Why Choose FHA 100% Financing?

Accessibility is the standout feature of this program. You don’t need to be a first-time homebuyer, and there are no income restrictions. Plus, if your credit score isn’t perfect, that’s okay—the minimum FICO score required is just 620. This program also offers flexible repayment options, including both amortized and forgivable second liens, making it adaptable to various financial situations.

Next Steps: Talking to A Local Lender

If this program sounds like it could be the right fit for you, the next step is to talk to a local mortgage lender. They can help you navigate the details and find the best path forward for your specific needs. Local lenders are deeply familiar with the community and understand the unique needs of buyers in our area. If you’re interested in exploring this program further, or other mortgage options, we can connect you with trusted local lenders who will guide you every step of the way.

Local Events

Rally for a Cure: Pickleball and Bocce Ball Tournament

September 14 @ 9:00 am - 12:00 pm

Templeton Tennis Ranch

345 Championship Lane Templeton, CA 93466

Come join the Martha Olson-Fernandez Foundation (MOFF) team for the 1st Annual Rally for a Cure Event!

• Lunch and drink ticket included for all players and sponsors
• Registration includes Pickleball and Bocce Ball Tournaments
• Brackets based on final number of players
• Guaranteed at least two games of Pickleball and Bocce Ball

All skill levels are welcome. Pickleball equipment provided if needed. Interested in volunteering for this upcoming event? Please email Neil Clayton at nclayton@moffoundation.com or call him at (805) 440-5650.

Click here for more fun SLO County events! 

The Happy House Hacking Podcast: Market Overview and Update: Can You Still Afford to Buy?

Buying a house in California can often feel like an unattainable dream—sky-high prices, rising interest rates, and a lack of inventory have left many wondering if homeownership is even possible. In this episode, we dive deep into the challenges that are making the market so tough and explore why it feels like the odds are stacked against you.

But don’t worry, there’s hope! We’re not just going to talk about the obstacles; we’re also here to share actionable strategies that can help you overcome them. From house hacking—an innovative approach that allows you to generate income while living in your property—to other creative financing methods, we’ll uncover how you can still achieve your homeownership goals, even in today’s competitive market.

As Realtors and seasoned investors, we have seen firsthand what works and what doesn’t. Whether you’re a first-time buyer or looking to invest, we are here to guide you through the complexities of the current landscape and help you unlock the opportunities that others might miss. This episode is packed with insights that could change your perspective and give you the tools you need to turn your homeownership dreams into reality.

Market Overview and Update: Can You Still Afford to Buy?

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. This event is perfect for both beginner and intermediate investors looking to expand their knowledge and network with local experts. Don’t miss out on this opportunity to learn, connect, and grow—bring a friend and let's build our community together!

At last month's SLO Real Estate Investor Meetup, we had the privilege of hearing from SLO County Tax Assessor, Tom Bordanaro, who provided an in-depth look at property taxes and their impact on real estate investing. We discussed how California's Proposition 13 helps keep property taxes predictable but remains under constant threat of change. Tom also highlighted the local impact of Prop 19, which, while beneficial for those who are 55+, has significantly reduced assessed values and revenue for counties like ours. If you missed this insightful session, be sure to check out the video recap below!

Paso August Mixer

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 dedicated to making dreams come true for terminally ill adults in our community.

Coming Soon

4 bed/4 bath Rice Ranch home in Santa Maria - $1,000,000

3 bed/2 bath on 15 acres in Atascadero - $750,000

Current Active Listings 

1981 Green St, Cambria - Multifamily Zoned 1.25 acre Lot Senior Affordable Apartment project

290 Daffodil Ave, Nipomo - 5 bed/3 bath spacious home in Nipomo 

3860 S Higuera St #B4, San Luis Obispo - 2 bed/1 bath affordable living in SLO

3960 S. Higuera St #22, San Luis Obispo - 3 bed/ 2 bath in Creekside Mobile Home Community

Current Pending Listings

8 Rancho Paso Dr, Paso Robles - 2 Bed /2 Bath mobile home on OWNED land! 

5525 Capistrano Ave #17, Atascadero - 1 bed/1 bath cozy condo

2478 Victoria Ave #104, San Luis Obispo - 2 bed/2.5 bath luxury townhome close to downtown SLO

3211 Via Ensenada, San Luis Obispo - 2 bed/2 bath townhome in a quiet community

110 Seacliff Dr, Shell Beach - 4 bed/ 3 bath just steps away from the ocean

Just Sold

9171 Tiburon Circle, Atascadero - $475,000

570 River Oaks Dr, Paso Robles - $690,000

1695 11th St, Los Osos - $750,000

531 Lemoore Ave, Pismo Beach - $1,000,000

1432 Tanglewood Ct, San Luis Obispo - $1,140,000

3935 Kilbern Way, San Luis Obispo - $1,225,000

420 Campana Place, Arroyo Grande - $1,240,000

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!