…and the President has stated his intent to sign the 700 page document. Included in the bill are a number of C.A.R. supported provisions that will help to create new homeownership opportunities and begin the process of stabilizing a tumultuous market.

A few of the highlights included in the bill is:

The new loan limit for Fannie Mae and Freddie Mac, which will be the greater of either $417,000 or 115% of an area’s median home price capped at $625,500.

The New FHA loan limit, which will be the greater of $271,050 or 115% of an area’s median home price capped at $625,500. Both new loan limits will be effective at the expiration of the Economic Stimulus limits on December 31, 2008.

Federal Housing Administration (FHA) rescue program, which allows homeowners to refinance their loan with the FHA and convert it to a 30-year fixed loan. Ideally, this will help many homeowners avoid foreclosure.

First time home buyer tax credit:allows first- time home buyers to receive a tax refund worth up to 10 percent of  a home’s purchase price, but no more than $7,500.  The refund serves as an interest -free loan and the homeowner is required to pay it back in equal installments over 15 years.

Provides $4 billion in neigborhood revitalization funds for communities to puchase foreclosed homes.

Cambria Real Estate Information as of Aug. 2008.

In Cambria currently, there are 98 homes on the market with an average list price per square foot of $529. Ranging from $325,000 to $9,900,000.

In Cambria currently, there are 7 homes in escrow ranging from $330,000 to $1,285,000.

In Cambria, there has been 45 homes sold in the last 6 months with an average selling price per square foot of $426. ranging from $315,000 to $2,350,000.

Cayucos Real Estate Information as of Aug. 2008.

In Cayucos currently, there are 51 homes on the market with an average list price per square foot of $886. Ranging from $475,000 to $6,600,000.

In Cayucos currently, there are 7 homes in escrow ranging from $359,000 to $1,950,000.

In Cayucos, there has been 20 homes sold in the last 6 months with an average selling price per square foot of $822, ranging from $420,000 to $3,800,000.

Morro Bay Real Estate Information as of Aug. 2008.

In Morro Bay currently, there are 109 homes on the market ranging from $325,000 to $9,900,000.

In Morro Bay currently, there are 16 homes in escrow ranging from $349,000 to $2,200,000.

In Morro Bay, there has been 61 homes sold in the last 6 months with an average selling price per square foot of $598. ranging from $210,000 to $1,555,000.

San Luis Obispo Real Estate Information as of Aug. 2008.

In San Luis Obispo currently, there are 160 homes on the market with an average list price per square foot of $479. Ranging from $419,000 to $12,000,000.

In San Luis Obispo currently, there are 14 homes in escrow ranging from $399,000 to $839,000.

In San Luis Obispo, there has been 126 homes sold in the last 6 months with an average selling price per square foot of $409. ranging from $415,000 to $2,600,000.

Templeton Real Estate Information as of Aug. 2008.

In Templeton currently, there are 108 homes on the market with an average list price per square foot of $428. Ranging from $299,000 to $4,350,000.

In Templeton currently, there are 16 homes in escrow ranging from $276,000 to $1,950,000.

In Templeton, there has been 31 homes sold in the last 6 months with an average selling price per square foot of $292. ranging from $280,000 to $1,600,000.

Paso Robles Real Estate Information as of Aug. 2008.

In Paso Robles currently, there are 309 homes on the market with an average list price per square foot of $280. Ranging from $184,900 to $2,295,000.

In Paso Robles currently, there are 78 homes in escrow ranging from $171,000 to $1,295,000.

In Paso Robles, there has been 256 homes sold in the last 6 months with an average selling price per square foot of $219. ranging from $156,000 to $750,000.

Atascadero Real Estate Information as of Aug. 2008.

In Atascadero currently, there are 204 homes on the market with an average list price per square foot of $299. Ranging from $155,000 to $2,750,000.

In Atascadero currently, there are 43 homes in escrow ranging from $199,900 to $835,000.

In Atascadero, there has been 115 homes sold in the last 6 months with an average selling price per square foot of $244. ranging from $159,900 to $1,075,000.

How truly exciting!!! Its a really smart time to buy on the Central Coast. I am committed to working hard and providing information to buyers and sellers to make informed choices. I provide assistance with selling or locating foreclosures, shortsales, large ranches, and any residential, commerical real estate needs on the central coast.  Thank you for visiting my website. I can be reached at 805 927-2269.

Kellie Williams Broker Associate/ Realtor  

  Information is reliable however it is not guaranteed, and is subject to change daily. 

Hi Everyone,

Welcome to my new blog. I’ll be posting about the Cambria real estate market and anything else that amuses me.

Thanks for visiting!