Market Review

M A R K E T

R E V I E W

2671 Laurel Avenue, Morro Bay, CA

JANUARY 2018 EDITION

Inside This Issue 06 Agent Perspective: What Impression Does Your Home Make?

Have you thought about the impression your home is making on prospective buyers?

12 Richardson Properties Priciest Transactions of 2017 With nearly $300 Million dollars in real estate sold, these properties were Richardson Properties’ high dollar transactions of 2017.

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10 Premier Listing 2671 Laurel Avenue, Morro Bay, CA 93442 Simply elegant with sweeping ocean views, this Morro Bay home is the epitome of class and charm.

16 Christie’s International Real Estate: Luxury Defined The Interiors Edit: How to Reflect The Trends in 2018 A look at premium accessories, furnishings, and go-to design studios for the year ahead.

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Note From The Broker

14

Central Coast Trends

08

From The Newsroom

16

Richardson Properties Current Listings

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NOTE FROM THE BROKER

"Every one of our real estate professionals challenges themselves to be the very best at what they do."

2017 was a spectacular year for Richardson Properties.

We continued our growth in market share with a Total Sales Volume of nearly $300 Million for 2017.

During the year we also experienced phenomenal growth among our marketing, techonology and networking capabilities through our new affiliation with Leading Real Estate Companies of the WorldÂŽ and Luxury PortfolioÂŽ.

While it seems as if everything came together all at once, reflecting I am beyond proud of what the team at Richardson Properties has accomplished this year through their hard work and dedication.

Every one of our real estate

professionals challenges themselves to be the very best at what they do. They also genuinely care about the buyers and sellers they represent, consistently look for ways to meet and exceed expectation.

Our people are the secret to Richardson Properties' success. They are inspiring. I am grateful to not only have the opportunity to work along side them, but to call them my family.

Cheers to the successful close of 2017; and here's to the happy arrival of 2018.

Happy New Year,

Chris Richardson, President/Broker

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Have questions about selling your home? Contact the real estate professionals at Richardson Properties.

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AGENT PERSPECTIVE WHAT IMPRESSION DOES YOUR HOME MAKE

BY AMANDA DUNTON

Have you thought about the impression your home is making on prospective buyers? Here are four tips to create that stellar first impression.

First impressions are important. When it comes to selling a home visual appearance including cleanliness, staging and décor can all help buyers envision a property as a future home. Here are four tips to help make that great first impression.

DECLUTTER Taking the time to keep a clean house, free of clutter while it is on the market is vital to the successful showing of a home to prospective buyers. Not only is there the safety concern of not being able to move about the property freely, but it can help expedite interior and exterior access during inspections, and even the seller’s moving process. Consider getting a storage unit to store items that are not immediately needed in the home to reduce clutter in and around the home.

SET THE STAGE While many factors go into determining a home’s worth, staging has shown to be a useful tool in adding value to a home; as much as five percent! Staging allows a prospective buyer the ability to see how furniture may fit best in rooms, highlight unique architectural features, and increase the willingness of buyers to walk through a home they saw online.

Consider re-arranging furniture to optimize the aesthetic of each room.

LIVE IT For those living in a home that is on the market to sell, children, pets, and hectic work schedules can be tricky if you leave clean-up to last minute. To reduce stress live like your home is being shown every day. Picking up as you go and making beds every day will help reduce stress when last-minute showings are scheduled. Consider hiring a professional cleaner to assist with larger tasks including interior and exterior windows which.

ODOR There old adage about how fresh baked cookies or apple pie smells like home. Smell is tied to memories and can be a strong motivator for a buyer to continue walking through your home or not being able to escape fast enough. Consider refraining from cooking foods with strong odors such as fish, or exotic spiced foods the night before or day of.

By considering the first impression your home will make on prospective buyers you increase the odds of a timely and successful real estate transaction.

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FROM THE NEWSROOM MICHELLE BLASINGAME OF RICHARDSON PROPERTIES TO RECEIVE GLOBAL RELOCATION PROFESSIONAL DESIGNATION

Michelle Blasingame, Director of Business Development of Richardson Properties, recently achieved the Global Relocation Professional (GRP) designation from Leading Real Estate Companies of the WorldÂŽ (LeadingRE), a collection of over 500 premier residential real estate firms in nearly 50 countries worldwide.

Blasingame earned the designation after completing a series of online courses on topics including managing international referrals, implementing relocation guidelines, understanding referral policies and successfully serving relocating clients.

The designation was created by LeadingRE to provide members with comprehensive professional development in the area of referrals and relocation, supporting the network's 30,000+ affiliate-to-affiliate client 8

referrals each year.

"We continually strive to help our members set the standard for excellence, whether they are assisting clients who are new to their area or those moving across the country or around the world," said LeadingRE Director, Member Services Brent Williams. "By earning the GRP, Blasingame has demonstrated a strong working knowledge of and commitment to superior relocation services."

"The GRP is valuable as the real estate world becomes increasingly global.

We are excited to increase our service offerings at Richardson Properties to include relocation and referral through LeadingRE," said Blasingame.

In addition to the extensive referral network, Richardson Properties has access to a full range of services

through their LeadingRE affiliation, including branding support, luxury marketing, global online exposure, technology systems, and other industryleading professional development programs.

Michelle brings extensive experience in New Home Sales, Real Estate Transaction processes, corporate communication and marketing experience to the Richardson Properties

team. Since joining Richardson Properties in 2002, her consistent follow through and forward thinking has been influential in expanding the scope of services currently offered. Michelle’s dedication to community involvement and her commitment to establishing professional affiliations has helped to establish Richardson Properties as one of the premier independent real estate brokerages on the Central Coast.

Richardson Properties is the premier affiliate of Leading Real Estate Companies of the World® and Luxury Portfolio International® for San Luis Obispo.

About Leading Real Estate Companies of the World® Leading Real Estate Companies of the World® (www.LeadingRE.com) is a byinvitation-only network that encompasses over 550 firms and 128,000 associates in over 55 countries worldwide. Collectively, the group produces over one million transactions valued at over $351 billion annually. The organization provides its affiliates with a robust menu of products and services spanning the areas of lead generation; outcome-based learning for leaders, associates and staff; web technology and systems; and branding and marketing support, including its Luxury Portfolio International® division. leadingre.com | luxuryportfolio.com

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PREMIER LISTING 2671 Laurel Avenue, Morro Bay 3 Bedrooms | 2.5 Bathrooms | 3,100 Square Feet

This gorgeous three bedroom, three bathroom newly remodeled home, boasts an open and spacious floorplan providing an abundance of natural light, a beautiful kitchen featuring quartz counter tops, stainless-steel appliances, a farmhouse sink, and bar area perfect for entertaining guests.

Sweeping views of the ocean can be seen from almost every area of the home.

A rooftop deck and decks off each level provide additional outdoor living areas accompanied by stunning coastal scenery. Other notable finishes such as new tile and wood flooring throughout round out the amenities of this incredible house.

Offered at $999,000 10

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6355 Mira Cielo, San Luis Obispo, CA

Looking for a new home? Let the Real Estate Professionals at Richardson Properties assist you.

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RICHARDSON PROPERTIES CHRISTIE’S INTERNATIONAL REAL ESTATE

PRICIEST TRANSACTIONS OF 2017 With a transaction volume of nearly $300 Million, here are our Top Ten real estate transactions from 2017 that got us there.

1. 3990 Shell Beach Road, Pismo Beach, CA | $3,200,000

This contemporary masterpiece featured beautiful design with custom detail at every corner coupled with an expansive ocean view.

2. 1110 Button Sage Way, Arroyo Grande, CA | $2,750,000

This extraordinary Varian Ranch estate offered secluded luxury in over 6,100 square feet of living space and breathtaking vineyard views.

3. 673 Palm Street, San Luis Obispo, CA | $2,400,000

This seven unit apartment complex in downtown San Luis Obispo featured spectacular views of Madonna mountain.

4. 7175 Paseo Vinedo, San Luis Obispo, CA | $2,275,000

This exceptional craftsman style home was nestled on 1.4 acres in the prestigious gated community of Edna Ranch.

5. 6355 Mira Cielo, San Luis Obispo, CA | $2,185,000

This stunning Edna Valley Estate featured over 4,438 square feet of living space on nearly four acres of land.

6. 1645 Lizzie Court, San Luis Obispo, CA | $2,150,000

Offering panoramic views of Cerro San Luis and Bishop’s Peak, this spectacular home was built with attention to every detail.

7. 1146 Marsh Street, San Luis Obispo, CA | $2,108,643

The Marsh Street Brownstones, an exclusive collection of seven custom homes in downtown San Luis Obispo.

8. 1142 Marsh Street, San Luis Obispo, CA | $2,064,931

The Marsh Street Brownstones, an exclusive collection of seven custom homes in downtown San Luis Obispo.

9. 1138 Marsh Street, San Luis Obispo, CA | $2,050,453

The Marsh Street Brownstones, an exclusive collection of seven custom homes in downtown San Luis Obispo.

10. 1803 Spring Street, Paso Robles, CA | $1,662,500

This hard to find downtown block-to-block property on Spring Street offered a multitude of uses and included four parcels for a combined 42,800 square feet.

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CENTRAL COAST TRENDS Monthly comparisons of November 2017 vs. December 2017 indicate average sales price holding in San Luis Obispo and Paso Robles, while Arroyo Grande saw an increase in average sales price. Number of transactions for the same time period fluxuated through the county with Paso Robles gaining 17 transactions over November to close the year.

SAN LUIS OBISPO December 2017 $730,997

Average Sales Price

33

Number of Transactions

November 2017 $758,069

Average Sales Price

42

Number of Transactions

PASO ROBLES December 2017 $572,330

Average Sales Price

62

Number of Transactions

November 2017 $567,737

Average Sales Price

45

Number of Transactions Data courtesy of CRMLS, Residential Properties.

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ARROYO GRANDE December 2017 $767,462

Average Sales Price

27

Number of Transactions

November 2017 $667,832

Average Sales Price

32

Number of Transactions

Opening the door to new possibilities since 1988.

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INTERNATIONAL Straight forward reads that uncover trends in the global luxury real estate markets from the top real estate brands Christie’s International and Luxury Portfolio©. Available online.

Christie’s International: Luxury Defined The Interiors Edit: How to Reflect The Trends in 2018 www.christiesrealestate.com

Luxury Portfolio©: BLOG Luxury Homes Designed By Famed Architects www.luxuryportfolio.com

Residential

RICHARDSON PROPERTIES LISTINGS 16

Atascadero 9300

Via Cielo

ATSC 4/3,0,1,0

3764/P

$1,094,000

8640

Erika CT

ATSC 4/3,0,0,0

2134/B

$605,000

8670

Erika CT

ATSC 4/3,0,0,0

1950/B

$590,000

8630

Erika CT

ATSC 4/2,0,1,0

1934/B

$590,000

1422

Medio LN

ATSC 4/2,0,1,0

1934/B

$565,000

Residential Cont.

1313

4035

Copado WY

ATSC 3/2,0,0,0

1422/B

$465,000

2863

Avila Beach DR AVIL

3/3,0,0,0

1809/D

$1,159,000

2431 Sherwood DR CAMB 3/4,0,0,0

2800/S

$1,995,000

Morro Bay

Shearer AV

CAYU $499,000

Lockwood 0

Cambria

ARRG $359,000

Cayucos 3486

Avila Beach

Camino Purisima

Lockwood San Lucas RDLOCK $400,000

Paso Robles 9928

Flyrod DR

PSOR

$189,000

2671

Laurel AV

MRBY 3/2,0,1,0

3100/S

$999,000

680

Red Cloud RD PSOR

$169,000

410

Java ST

MRBY 2/1,0,0,0

672/AP

$509,000

2615

Edgewood CT PSOR

$105,000

Templeton

Nipomo 525

Sandy Oaks LN NPMO 4/3,0,1,0

3250/A

$849,000

2725

Warm Springs LN TTON

$262,000

Commercial Sale

Paso Robles 2605

Edgewood CT PSOR 5/4,0,0,0

4267/D

$975,000

Santa Margarita

2770

Edgewood CT PSOR 4/3,0,1,0

3237/D

$925,000

22601 El Camino Real SMRG 1680SQFT

185

Auburn CT

PSOR 4/2,0,1,0

2500/B

$725,000

Commercial Lease

2420

Elk Point WY

PSOR 4/4,0,0,0

2756/D

$700,000

Paso Robles

329

Bobwhite DR #134PSOR

$399,000

1030 Unit C

4134

Quarterhorse WYPSOR 2/2,0,0,0

$299,000

San Luis Obispo

3/1,1,0,0 1527/D 1248/A

Pismo Beach 345

Capistrano AV PSMO 4/3,0,0,0

2800/E

$1,870,000

San Luis Obispo

Railroad ST

PSOR 2340SQFT

560

Higuera ST

SLO

1741SQFT

570

Higuera ST

SLO

575SQFT

570

Higuera ST

SLO

572SQFT

1321

Osos ST #250 SLO

2/1,1,1,0

1573/S

$1,055,000

570

Higuera ST

SLO

2997SQFT

1321

Osos ST #260 SLO

2/1,1,1,0

1359/S

$965,000

570

Higuera ST

SLO

2880SQFT

Residential Income

570

Higuera ST

SLO

644SQFT

Grover Beach

570

Higuera ST

SLO

827SQFT

570

Higuera ST

SLO

851SQFT

570

Higuera ST

SLO

2284SQFT

560

Higuera ST

SLO

812SQFT

946 S 13th ST

GRVC

3604/

$830,000

San Luis Obispo 465 Pacific Street #A SLO

1829/

$1,250,000

$550,000

Manufactured Homes Arroyo Grande 765

Mesa View DR #81ARRG

3/1,1,0,0

1601/B $219,000

3/1,1,0,0

1421/B $339,000

S Higuera Street #272 SLO 2/2,0,0,0

1524/A $201,000

Pismo Beach 201

Five Cities DR #93PSMO

San Luis Obispo 3860

Land Arroyo Grande 3675

Camino San Gabriel

ARRG $399,000

3655

Camino San Gabriel

ARRG $399,000

4055

Camino Purisima

ARRG $359,000 Information deemed reliable, but not guaranteed. As of 1/23/2018.

CORPORATE OFFICE

TEMPLETON OFFICE

HERITAGE RANCH OFFICE

735 Tank Farm Rd., Ste 130 San Luis Obispo, CA 93401 +1 805 781 6040

212 S Main Street, Ste. 103 Templeton, CA 93465 +1 805 781 6040

2150 Heritage Loop Rd., Ste. B B 240 Paso Robles, CA 93446 +1 805 239 9916

CalBRE #01465507 | www.richardsonproperties.com