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Blog: San Luis Obispo

Why move to SLO?

How the face of Bubblegum Alley is providing a happy alternative to the pace of the Silicon Valley!

                                -as recognized in a recent story in the New York Times!

In a December article of the New York Times, San Luis Obispo is featured as the charming and quaint California town attracting start-ups and venture capitalists, with a growing tech hub to boot.

In that article, Rick Stollmeyer who is the chief executive of MindBody declared that he foresaw San Luis Obispo a bustling tech hub when in 2001 he cofounded the cloud-based business management tool for the wellness industry. The MindBody corporation serves about 35 million consumers in over 130 countries. (Wikipedia) Their office residing at 4051 Broad St. here in SLO.

Luke Soules, Cal Poly graduate and founder of iFixit a native San Luis Obispo start-up, is quoted as stating,  “We have a lot of employees tired of the Silicon Valley pace and come to raise a family.” The 125-employee firm offers over 31,000 online guides on how to fix anything from a broken iPhone screen to torn jeans.

A former Cal Poly professor, Gary Dwyer shared his observation in the article sharing that tech workers were using San Luis Obispo as a playground to surf and ride mountain bikes. “The techies are building and buying secondary homes they can use as time shares. They are already here, and more are on the way.”

California Center for Jobs and the Economy has estimated more than 7,800 tech employees work in San Luis Obispo County; a 20 percent rise over the last five years. A principal contributor of the rise is the growth pool of engineering and computer science students from California Polytechnic State University and the network of support from government, education and community agencies providing access to real estate, funding and business connections nurturing the entrepreneurial spirit and encouraging fledgling enterprises. (NY Times)

The New York Times article cited the Mission San Luis Obispo De Tolosa and Bubblegum Alley as a tourist draw and also reported “Based on its clean environment, walkability and access to healthy food, San Luis Obispo is consistently ranked as one of the happiest cities in the United States.” (NY Times)

News has travelled countrywide! The SLO life is alive and thriving!

Contact us here at San Luis Obispo Realty and Bayshore Realty where any one of our 30+ real estate agents would love to help  you find your space to call home here in San Luis Obispo County!




Why come to San Luis Obispo?

Come to Visit, but Stay to Thrive!

San Luis Obispo County provides you many ways to experience the superior quality of the local lifestyle……

It has been said that “happy is healthy”! So while San Luis Obispo has become known as the “Happiest Place on Earth”, it’s not a stretch to say that we don’t just survive here in San Luis Obispo County, we thrive here! While our college and university seasonally give birth to an offspring of new youth, SLO County generates a wellspring of perpetual youthfulness in its bountiful opportunity to join in nature’s celebration.

You can enjoy lakes and beaches, hiking and biking trails, outdoor adventure tours and rentals in SLO County, and on any given Sunday, and pretty much year ‘round, you can rent bikes, ATVs, horses for half a day, and of course boards of many kinds. Surf’s up in San Luis Obispo with a wide variety of nearby surf spots for all skill levels. Cal Poly was even placed in the top three of the “10 best surf schools in America” by Surfline.com.

The beautiful beaches, bustling downtown, and bountiful wineries are often credited with inspiring the mirth, but the great hiking trails must have something to do with it too. (hikespeak.com) San Luis Obispo is famous for the Nine Sisters, or Morros, a stunning string of volcanic peaks stretching from Morro Bay across San Luis Obispo. There are hiking trails on five of the Nine Sisters: Black HillCerro CabrilloBishop PeakCerro San Luis, and Islay Hill. There are several other places to hike around San Luis Obispo, including Montaña de Oro State Park and Morro Bay State Park, two gems on the California coast. Lists, including printable maps, can be found at hikespeak.com or find Trails of SLO County at alltrails.com

As well as supplying an overabundance of opportunity for physical activity, our great outdoors also offers alternative opportunity to celebrate life’s abundance. Did you know that in San Luis Obispo County you can find a local farmer’s market on any day of the week? You can find a list at slocountyfarmers.org and northcountyfarmersmarkets.com  With an abundance of locally grown fresh produce, meats and seafood, and celebrated restaurants serving our counties award winning wines and handcrafted micro brews, it’s not hard to savor the Central Coast.

From fish and chips to grass-fed filet, San Luis Obispo County offers an eclectic mix of fresh fare. Explore your cravings of our culinary wonderland here on the Central Coast. There’s a “bite by bite and step by step exploration” of San Luis Obispo's and Paso Robles' historic down towns with our Cultural Walking Tours (visitsanluisobispocounty.com). Locals and visitors alike take advantage of grand event promotions offered every weekend limited only by their imaginations.

In addition to food tours, there are exclusive Private Wine Tours (visitcentralcoastwine.com), Beer Tours (hoponbeertours.com), Adventure Tours (whale watching tours, sailing, and kayaking tours, Zip-lining and Ranch Tours at Margarita Adventures), even castle tours (Hearst Castle, Hearst Ranch in San Simeon) and many other private group tours offered to behind the scenes venues throughout the county.

In the true spirit of celebrating life, we love hosting our parades, fairs and festivals here on the Central Coast! Annual festival themes have included the Wine Festival, the Olive Festival, the Apple Festival, Lavender Festival, Wildflower Festival, the Harbor Festival, the Harbor of Lights Festival, the Clam Festival, Harvest Festival, a Scarecrow Festival and of course festivals in observance of any major or minor holiday! Find year round events and the communities that are hosting them within San Luis Obispo County at www.visitsanluisobispocounty.com

The third largest producer of wine in California, wineries and wine grape growers here in SLO County generated a total of 13,627 jobs last year earning $388 million in wages and wine-related tourism brought in expenditures of $194 million (study from UC Davis; The Tribune, June 9, 2016).  Approaching soon, the third weekend in October, is the Harvest Wine Weekend celebrated at near every winery in the North County.  Find Homes on vineyards and wineries here.

Also in October, marvel at thousands of black-and-orange Monarch butterflies as they make their fall migration to temperate Pismo Beach, one of California’s last quintessential beach towns. This year’s epic butterfly season begins with the Monarch Grove Grand Opening Celebration (Oct. 22) featuring family friendly activities, interesting booths, and close encounters with the winged wonders (approximately 10,000 to be exact).

Drunk in love with San Luis Obispo County becomes the induced effect when you’re blessed enough to call the Central Coast your home! You don’t even have to be a wine drinker to conjure up good times. Bottom line…..It’s not only the college kids partying here on the Central Coast!  

San Luis Obispo County is home to one of the nation's top rated universities: California Polytechnic State University (Cal Poly). Find information about Cal Poly, Cuesta College, and local public schools here. http://www.slocounty.ca.gov/residents/schools__colleges__and_education.htm

Please use San Luis Obispo Realty to assist you in finding real estate and homes for sale in this spectacular, Central Coast destination. Search All San Luis Obispo Real Estate and Homes for sale right here.

The California Real Estate Market UPDATE

August 2016 California Real Estate Market Update

The real estate market in California is HOT this summer….and Hot to touch for renters!

California’s typically busy real estate markets have been continuing to lead the trend, as seven of the top ten hottest markets as determined by an economist for the National Association of REALTORS.

Data indicates that nationally, July was one of the busiest months for real estate activity in a decade, driven by low mortgage interest rates and pent-up demand from low supply. Overall, home sales increased 10 percent in June over the previous month and 2.2 percent over June 2015 (National Association of REALTORS).

Home sales have been booming even as prices continue to climb, making it a perfect time for a homeowner to sell. Inventory of homes for sale ended 2015 at a 22-year low. (www.housingpredictor.com/2016)

Low inventory spurs stiff competition among home buyers. That means sellers can demand top-dollar for their properties. According to the California Association of Realtors, the median price of a single-family detached home in California rose to $519,440 in June, a 5.5 increase over June 2015’s median price of $492,320. The average price per square foot was $247, up from $237 in June 2015. That’s nearly double the national average of $249,800.

Note: San Luis Obispo's median sale price is $652,300. Search SLO Homes for sale HERE.

Low mortgage rates keep the seemingly astronomical price tags within the realm of affordability for many home buyers, however. The 30-year fixed-mortgage interest rate averaged 3.57 percent in June, compared with 3.60 percent in May and 3.98 percent in June 2015. In 2007, the average rate hovered around 6.7 percent. Rates are low enough that despite increasing home prices, typical mortgage payments are still lower for 2016 buyers than they were in 2007.

California’s housing stock has not kept pace with the state’s booming economy; another factor that may be driving real estate activity. California’s continued housing shortage, particularly in coastal areas, is a problem compounded by the startling lack of construction. According to one report from the nonpartisan organization Next10, only 21.5 new residential permits have been issued for every 100 new residents from 2005 to 2015, and only 59 percent of those permits were for single-family structures. (SetSchedule.com) Over the past three decades, California has added about half the number of units needed to keep housing costs in line with the rest of the U.S.

This has led to increased rental prices and more cases of room sharing. Median rents across the state have increased 24 percent since 2000, and at the same time, median renter household incomes have declined 7 percent. While homeowners spent about a quarter of their annual income on their housing mortgages, the highest of all states, renters in California spent on average 36 percent of their incomes on their housing, more than only two other states, up from an already high 28.1 percent in 2000 (la.curbed.com). Beacon found that, in 2014, California ranked a miserable 49th in home ownership rates among states, with less than 54 percent of homes occupied by their owner. The state also finished dead last in overall affordability.

*San Luis Obispo, one of the little known gems located between Los Angeles and San Francisco, has a median sale price of $652,300, without the hustle and bustle of the larger cities. The Pacific Ocean is only 11 miles west of the city making it an ideal location for beach lovers who don’t want to pay the inflated cost of being closer. The city houses the California Polytechnic State University, which brings with it the amenities of any major college campus – arts, transportation, and entertainment. And one of the main draws is the wide range of outdoor activities like hiking, kayaking, surfing, and sailing. (Housing Predictor)

Contact  San Luis Obispo Realty for all your San Luis Obispo Real Estate needs!
441 Marsh Street
San Luis Obispo, CA 93401
DRE# 00577121


What is a 1031 Exchange?

What are the Benefits of a 1031 Exchange?  Defer your Real Estate Tax Consequences.

The 1031 Exchange is one of the last great tax codes that exists. The main benefit of the 1031 Exchange is that it allows investors to take the money that should go towards taxes and use it to make more money. Essentially, you are selling an investment or business property and you are exchanging it for another property that you intend to use as an investment real estate or business.

There are many reasons why you may need a 1031 Exchange:

  • Estate planning purposes
  • Finding a property closer to where you live
  • Getting out of management responsibilities, and more.

When you use the 1031 Exchange, you must adhere to the like-kind rule. This rule exists because the 1031 applies to anything held for productive use in a trade, business, or for investments. It’s not just real estate. Fortunately, the like-kind rules for real estate are pretty simple: you can exchange any real estate for another piece of real estate for investment or business purposes.

Some people want to exchange their investment properties for a vacation home or their dream home. Your vacation home may qualify as an investment so long as it is used less than two weeks out of the year or less than 10% of the time it’s been rented. You cannot initially use the 1031 Exchange for your primary residence. However, there is a revenue ruling that states if you hold the property as an investment for two years or more, you will not be challenged if you convert it to your personal residence.

Keep in mind that the 1031 Exchange defers taxes - the taxes don’t just disappear. If you do convert a property to your primary residence, you could take a primary residence exclusion down the road.

If you are interested in buying and selling real estate, investment real estate, commercial real estate, exchanging property for investment purposes or taking advantage of the 1031 exchange tax deferral, please do not hesitate to contact San Luis Obispo Realty, your top resource for buying or selling real estate on the Central Coast!

Great posting on San Luis Obispo, a great place to live!

If you are looking to buy a home in San Luis Obispo, check out this video just recently posted about visiting San Luis Obispo. Make every day a vacation, when you live in San Luis Obispo! Find out why it is the Best Place to Live!

"San Luis Obispo is the perfect getaway known for its soothing climate, vineyard laced hills and amazing sightseeing opportunities to observe nature along the Central Coast. SLO has something for nearly everyone, from relaxing along the pristine Pacific beaches to looking for adventure activities and enjoying the city's cultural heritage. Visit San Luis Obispo and experience SLO's breath-taking hikes, vibrant Downtown, award-winning wineries and more."

See the You Tube video here

Find homes on vineyard property, homes on beach property with ocean views (Nipomo, Arroyo Grande, Pismo Beach, Oceano, Grover Beach, Avila Beach, Morro Bay, Los Osos, Cayucos, San Simeon and Cambria) and all real estate and homes for sale right here!


and our Morro Bay Affiliate & second location

Morro Bay Real Estate Partner

San Luis Obispo Realty
441 Marsh Street
San Luis Obispo, CA 93401

CA BRE# 00577121


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