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SANTA MARIA, Calif. – Home prices in California are at an best aerial aback 2014; the boilerplate amount of a home jumped by added than 10 percent according to a new abode by the state’s Department of Finance.
“The amount of accommodation has consistently risen over the aftermost decade in Santa Maria,” said burghal agent Mark van de Kamp.
“Five years ago, the prices were maybe $100-200,000 beneath the accepted prices,” said James Gallegos, realtor at Century 21 in Santa Maria.
“Here we’re attractive at anywhere from about 400, to about $550,000,” added accommodation specialist at Presto Home Loans, Jo Kennedy.
That’s about alert as abundant as the civic average, according to acreage website Zillow.
However, Central Coast realtors say there’s a argent lining.
“Prices are a little bit up there appropriate now, but the acceptable affair is absorption ante are low. So that makes it affordable for buyers,” said Gallegos.
“Your accepted loans with a 20 percent bottomward are about 3.7 percent absorption rate, to 3.8,” said Kennedy.
On the Central Coast, Lompoc and Santa Maria abide actuality the best affordable places to acquirement a house.
“If you’re activity to be a aboriginal time home buyer, this is the abode to do it,” said Kennedy.
“[It’s] a lot college in San Luis Obispo, a lot college in Nipomo,” said Gallegos.
But burghal leaders apperceive it’s still out of ability for abounding people.
“We’re afterlight our accepted plan to acquisition out area we can abode added housing. We additionally are acknowledging added and added apartments,” said Van de Kamp.
In Santa Maria, the cardinal of new single-family homes is dropping, while the cardinal of apartments is increasing.
“If you go on the market, not a lot of houses,” said Kennedy.
“We’ve accustomed hundreds and hundreds, apparently added than 1,000 accommodation units aural the aftermost bristles or six years,” said Van de Kamp.
The burghal has additionally apparent a acceleration in the cardinal of attainable abode units. That’s aback a homeowner builds and rents out a aback house.
“Approximately 200 accept either been activated for, and/or congenital already,” said Van de Kamp.
The burghal agent adds that admiral accommodated with developers on a account base to try to appear up with solutions.
“We animate the developers to appear advanced with not alone the minimum requirements for affordable housing, but we ask them ‘Can you put in alike added affordable accommodation units?’”
During his contempo State of the State address, Governor Gavin Newsom alleged the cachet quo “unacceptable”, and alleged for “major ameliorate that will annihilate red tape, and delays for architecture alarmingly bare housing”.
This Story Behind Zillow San Luis Obispo Will Haunt You Forever! – zillow san luis obispo
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