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County median home price reaches $604,000
San Luis Obispo Tribune ^ | Fri, Mar. 24, 2006 | Jeanne Kinney

Posted on 03/24/2006 7:05:10 PM PST by Porterville

County median home price reaches $604,000 San Luis Obispo County’s median home price inched past the $600,000 mark last month, reaching $604,170, according to data released by the California Association of Realtors. This was a 2 percent gain from January and a 21.7 percent gain from February 2005, when the median price was $496,430.

February’s median was still lower than the record set in November 2005 of $605,160.

The county saw an 8.1 percent increase in the number of sales of single-family detached homes compared with February of last year. During the same period, the median price of an existing home statewide increased 13.7 percent as the number of sales decreased 15.5 percent.

"As expected, year-over-year sales continued to decline from the robust levels of a year ago," said Vince Malta, association president.

Statewide, there is an unsold inventory estimated at 6.7 months. In San Luis Obispo County, unsold inventory was 7.6 months in February. That compares with 5.6 months in February 2005.

The California Association of Realtors bases its figures and projections on the reported closed escrow sales of single-family detached homes (no condominiums) provided by member associations. — Jeanne Kinney


TOPICS: Business/Economy; Culture/Society; News/Current Events
KEYWORDS: crybabies; demand; housing; housingbubble; realestate; realty; surplus
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To: Porterville
People from the east are probably eyeballing mortgage payments that don't require your firstborn as collateral. We have a 2400 square foot 3 bedroom house in a small town that we paid FAR less for. I'll take the cost of living over calm weather (and earthquakes) any day.
21 posted on 03/24/2006 7:26:09 PM PST by metmom (Welfare was never meant to be a career choice.)
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To: Porterville

BTW- I'll probably sell in April '07, take my tax free 500k and reinvest in another up and coming market. 250k/yr tax free ain't bad.


22 posted on 03/24/2006 7:26:24 PM PST by Bob J (RIGHTALK.com...a conservative alternative to NPR!)
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To: All

I dont see the alure of Cali....why would anyone WANT to live there?


23 posted on 03/24/2006 7:26:52 PM PST by Kewlhand`tek (Those that can't , Teach. Those that can't teach , Report)
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To: keithtoo

Sorry, I'm having a real hard time writing tonight... are for our and all that stuff. My bad.


24 posted on 03/24/2006 7:27:16 PM PST by Porterville (Sure are a lot of these few Muslim Extremist Fanatics)
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To: Bob J
Bought a new home in San Diego for about 1.2 in April '05, put about 200k into it and now it is worth over 2 mil.

You can't get more awesome than that! Congrats!

25 posted on 03/24/2006 7:27:26 PM PST by abner (Looking for a new tagline- Next outrage please!- Got it! PRIVATE PROPERTY RIGHTS LOST IN THE USA!)
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To: Porterville

Excuse me but you and your house and however much it cost
and where its located mean squat, materialism is marxism
crawl back in your hole with your materialistic goon squad.
Life is about contribution not what you have.


26 posted on 03/24/2006 7:27:42 PM PST by claptrap (optional tag-line under reconsideration)
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To: Bob J

We will probably sell in May of '07 ... 13 months...


27 posted on 03/24/2006 7:28:07 PM PST by Porterville (Sure are a lot of these few Muslim Extremist Fanatics)
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To: Porterville

I bought my first house for two dollars, $2.00, and sold it ten years later for 18 million. Am I exploiting the housing bubble?


28 posted on 03/24/2006 7:29:16 PM PST by groanup (Shred for Ian)
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To: metmom

Earthquakes? Please...we have a bad one about once every 100 years...somewhere in our hundreds of thousands of square miles. That's what earthquake insurance is for, subsidized by the US taxpayer. Thank you.


29 posted on 03/24/2006 7:29:41 PM PST by Bob J (RIGHTALK.com...a conservative alternative to NPR!)
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To: claptrap

According to the local newspaper it means on average 604,000 little pieces of freedom...


30 posted on 03/24/2006 7:29:46 PM PST by Porterville (Sure are a lot of these few Muslim Extremist Fanatics)
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To: Porterville

Sold my last home in April '05..have to wait 24 months.


31 posted on 03/24/2006 7:30:23 PM PST by Bob J (RIGHTALK.com...a conservative alternative to NPR!)
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To: groanup
Congratulations that is a great deal.
32 posted on 03/24/2006 7:30:42 PM PST by Porterville (Sure are a lot of these few Muslim Extremist Fanatics)
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To: abner

It ain't 'nuthin unless my friends come out to visit.... ;-}.


33 posted on 03/24/2006 7:31:51 PM PST by Bob J (RIGHTALK.com...a conservative alternative to NPR!)
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To: Porterville
No problemo, happens to the best of us. You have to forgive those of us who live in Flyover America who cannot imagine paying $500 per square foot for a house. It is just not something we can grasp.

The equity ride would be a hoot though.

34 posted on 03/24/2006 7:32:20 PM PST by keithtoo (It's STILL not safe to vote Democrat)
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To: Bob J

I'm on the same track. We sold our first home in October; my girlfriend is now in nursing school while we fix up this house.


35 posted on 03/24/2006 7:32:21 PM PST by Porterville (Sure are a lot of these few Muslim Extremist Fanatics)
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To: BunnySlippers
Far, far, far from the high priced cities.

That's true, but it has some of the most beautiful views of the ocean. I love to go there and stay on the weekends.

36 posted on 03/24/2006 7:32:36 PM PST by SweetCaroline ( have ye asked nothing in my name: ask, and ye shall receive, that your joy may be full)
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To: Bob J

No can buy. I have always been my sole support.
I was a legal support asst. with the county attys for several yrs but had to ret. two yrs ago (age late 50s) due to in the past 10 yrs over 8 major orthopedic surgeries, cancer surgery. Last month had neuro surgery on left arm.
Have been on forearm crutch for several yrs.
All this while working full time so finally had to ret.
I never owned a car in my life which is unheard of in SoCal.


37 posted on 03/24/2006 7:32:46 PM PST by SoCalPol (Hillary kvetching is like Jack the Ripper moralizing to my neuro surgeon)
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To: abner

Of course, I've always got my bags packed to visit friends...just waiting for an invite...


38 posted on 03/24/2006 7:33:12 PM PST by Bob J (RIGHTALK.com...a conservative alternative to NPR!)
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To: keithtoo

I have family that moved to TN because they couldn't pass up the opportunity. For example, they have kids, something I could not afford right now.


39 posted on 03/24/2006 7:33:51 PM PST by Porterville (Sure are a lot of these few Muslim Extremist Fanatics)
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To: Bob J

You've done well. Couldn't happen to a nicer guy......and yes, I mean that.


40 posted on 03/24/2006 7:34:42 PM PST by RightOnline
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