Love Your House?

January is often a time for a fresh start—new goals, new routines, and a reset after the holidays. Our month has been both fulfilling and challenging. We’ve had great family time, but we were also sick for about half of it. Between work, school, and sports (basketball, AYSO All-Stars, State Cup, and Friday Night Lights), it’s been a reminder that sometimes progress simply means showing up and doing the hard things.

Real estate is similar. It’s simple in concept, but hard in practice. Consistency matters. The same way our kids grow by grinding through math homework or putting in extra practice, homeowners build long-term wealth by staying patient, making sacrifices when needed, and taking care of their property over time.

I closed last week on a home in Lompoc for clients who are excited to start building equity. It’s a fixer, but they purchased a great home for under $500,000. They were originally looking at condos until we found this opportunity. The escrow had its challenges, but they’re ready—and they’re going to do really well with this investment.

Market Update
The market is still tough… but it is moving. (I know, I sound like a broken record.) I remain cautiously optimistic. January brought a big increase in new listings—roughly double what we saw in December. Closings were down, which makes sense considering most escrows take 30–45 days, meaning December activity impacts January closings.

Buyers are coming back ready to purchase and find value. Sellers are stepping into the market with fresh energy. Interest rates have been trending down steadily and are expected to continue easing throughout the year.

If you don’t love your house—your neighborhood, school district, yard size, or layout—this might be a great time to connect and explore what’s possible. I’d be happy to help you build a smart plan.

Organized real estate fraud a growing concern in San Luis Obispo County

By Makayla Richardson
KSBY

A property sale listing could mean your dream home, or something far more sinister. San Luis Obispo County officials say organized real estate fraud is targeting local property owners and real estate agents.

The San Luis Obispo County District Attorney's Office says this is how the scheme works:

• Fraudsters begin by impersonating legitimate property owners.
• They then remotely contact unsuspecting real estate agents and request that the property be listed for sale. 
• When an offer is accepted from a legitimate buyer, a transaction is initiated with a title company.
• The impersonators request that the documents be sent to them by way of email, citing that they are out of the area and cannot meet with the escrow officer in person. 
• Often, the impersonators claim they are undergoing cancer treatment and must utilize their own notary. The required escrow documents containing forged signatures and a fraudulent notary stamp are then shipped back to the title company. 

Robert Mariani says the price of homes and other properties has been on the rise in San Luis Obispo County since 2012, and after 23 years as a real estate agent in the area, organized real estate fraud doesn’t come as a complete shock.
 

Honestly, it's concerning," Mariani said. "It's not surprising. It's the high values and people who are dishonest that think they're going to make a fast buck.”

Graham Updegrove is the owner of California Coastal Real Estate. He said he’s seen many instances of real estate fraud in SLO County, especially in the last five years.

“It is almost entirely focused on vacant land," Updegrove said. "Fraudsters are savvy. They know that if they're trying to impersonate a homeowner, that they're not going to have access to that property, whereas vacant land, there's nothing on the property and it's a lot easier.”...

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Though mortgage rates held relatively steady through the first month of 2026, the fate of the spring homebuying season may depend on whether that trend of improving affordability continues — and on how the economy and consumers respond to other issues facing the country. 

Rates sticky following Fed meeting 

Mortgage rates are near three-year lows, and they didn't change much after the Federal Reserve decided to pause short-term interest rate cuts at its meeting this week.

The 30-year fixed-rate mortgage ticked up just slightly, rising from 6.09% last week to 6.1%, according to Freddie Mac's weekly survey. Mortgage News Daily, which uses a different set of metrics to gauge mortgage rates, pegged the rate at 6.16% on Jan. 29 — unchanged from one day earlier.

While rates are significantly lower than they were a year ago, "expectations for a robust spring housing market depend a lot on where mortgage rates head," said Lisa Sturtevant, chief economist at Bright MLS.

"It will be movement, perhaps more than the actual level, that prospective homebuyers will be responding to," Sturtevant added.

Mortgage rates could rise in the near term

The recent uptick in mortgage rates "reflects political and economic uncertainty that has driven Treasury yields higher," Sturtevant said. 

That uncertainty may also "continue to hold buyers and sellers back," Sturtevant noted, and will "be an important factor in rate trajectory, leading to rate volatility and probably higher rates in the weeks ahead." 

But that doesn't mean we'll see rates in the 7% range anytime soon, according to Mike Fratantoni, Mortgage Bankers Association (MBA) SVP and chief economist. Fratantoni anticipates that mortgage rates will stay around 6-6.5% "for the foreseeable future," which will in turn "help support a somewhat stronger spring housing market than last year, but not a breakout year."

Applications fall, but buyers 'remain active' compared to 2025 

On a weekly basis, overall mortgage applications dropped 8.5% for the week ending Jan. 23, according to the MBA, while refinance applications fell 16% amid a short-lived spike in mortgage rates.

Homeowners seeking opportunities to refinance will likely "remain sensitive to week-to-week rate movements," noted MBA VP and Deputy Chief Economist Joel Kan.

Purchase applications dropped 4% week-over-week in a sign that "consumers are reacting to growing uncertainty," Sturtevant said. But purchase applications were still 18% higher than this time last year, indicating that "prospective homebuyers remain active at the start of 2026," according to Kan.

New listings up as homes linger on market

Buyers canceled home purchase agreements at a record pace last month — and pending sales also fell 1.6% for the four weeks ending Jan. 25, according to Redfin data. But new listings increased 0.8%, marking the first rise since November as buyer demand improves. 

While homes are taking more time to sell — the typical home sold in January spent 63 days on the market, a full week longer than this time last year — buyers "are more serious than they were a few months ago; they're looking at every listing and meticulously comparing the pros and cons of each one," observed Connie Durnal, a Redfin Premier agent in Dallas.

With many major U.S. markets favoring buyers, home shoppers "are able to take their time and be picky because there are a lot of listings," Durnal said, adding that sellers who must move "need to be realistic."

Slow and steady price growth

Home price growth has continued to increase, though at a modest pace.

Price growth estimates vary, with the latest S&P Cotality Case-Shiller Home Price Index pegging the November 2025 year-over-year increase at 1.4% and the Federal Housing Finance Agency reporting a slightly higher uptick of 1.9%. First American's estimate was lower at 0.5%, while ATTOM said 2025's national median sale price was 2.6% higher than in 2024.

These price increases occurred despite ongoing affordability challenges, noted ATTOM CEO Rob Barber. While lower mortgage rates may be giving home shoppers an opening, "that relief may be limited" as prices hit record highs and homeowners stay put longer, he added.

Affordability improvements coming?

For now, "the housing market is stuck in neutral" as affordability remains a top concern for many consumers, according to Cotality Principal Economist Thom Malone. "Buyers can't meet the prices sellers need to preserve their equity or move laterally," he noted, leaving both sides "at an impasse."

But recent economic data suggests the situation is starting to get better. Housing affordability improved for the ninth consecutive month in November, according to First American, with recorded gains in 47 of the 50 major metros analyzed.

With improvements in wage growth and steady mortgage rates expected in 2026, First American anticipates that home price growth and housing supply will shape the conversation about affordability.

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