So far home values seem to be recovering from the recession and a more rapid rate than economists and real estate experts, including myself, had expected. Whether this is a short term blip or a long term ramp up remains to be seen. Nevertheless, I believe it would be prudent to keeps tabs on the market as your plans progress. You my track all activity and chart trends at my research center, http://www.slohomestore.com/vow/tools/login.php.
Best of luck and welcome to the Central Coast.
In the meantime, I would suggest you investigate all of the areas in Paso and also look at areas other than Paso for comparison: San Luis Obispo, Templeton, Atascadero, Cambria, Cayucos, Morro Bay, Nipomo etc.
You can view homes in Paso Robles and the entire Central Coast on my web site in real time at http://www.dnorwood.com/PASO_ROBLES.aspx - or I can send you a MLS portal link that fits you specific criteria.
It may be prudent for me to point out that the Real Estate market has changed for the better, and prices are starting to go up. After a year you plan on pay at as much as $100,000 more for a home, depending on the price point. Also, the loan interest rates are historically low, and will certainly be higher in one year. So, if you have the down payment today, it might be a good idea to buy a home today.
Either way I am here to help.
David Norwood-Central Coast Real Estate David@Dnorwood.com 805-471-0828
I would be happy to answer any questions you have about Paso Robles or surrounding North County areas. I live in Paso Robles and have over 10 years RE experience in the community both as a Realtor and Appraiser. Pardon the cliche but now is really a much better time to buy than what appears a year down the road as consistently month after month (9+ months) median home values have risen, housing inventory has depleted to less than 3 months supply and in relation the competition of buyers has grown exponentially causing at times bidding wars and multiple offer situations. If you have any interest to learn more about the area please contact me or visit my website for additional info. Thank you and best of luck to you!
Peabody & Plum Realtors
Realtor Associate, GRI, CDPE