I just did a quick check on Pendings for the month and we have broken 400 for the first time since last July! I'll be updating the statistics on the www.SloWatch.com site either late tonite or tomorrow.

New Mortgage Calculators!

I purchased a set of mortgage calculators that I really like and have put them on the website. Not only do they do the calculations but present reports as well.

Check them out!!

http://www.slocountyhomes.com/calc_index.html

I saw this posted on another site and thought it was an interesting way to present the subprime mess. Warning...it does have the f-word in it so if that offends you, please don't click on the link.

The Subprime Primer - http://tinyurl.com/2kvosz

Here's a chart from the California Association of Realtors with median home price and sales volume comparsions between 2006 and 2007.

	Median 2007	Median 2006	Price change	# Sales Change
Region
Central Valley	$330,500	$362,910	-8.90%	-30.60%
High Desert	$296,380	$330,380	-10.30%	-49.40%
Los Angeles	$589,150	$584,820	0.70%	-22.60%
Monterey	$731,190	$713,900	2.40%	-28.10%
Nor. Calif.	$381,850	$409,460	-6.70%	-10.50%
Nor. Wine Country	$589,050	$620,040	-5.00%	-23.10%
Orange County	$699,590	$709,000	-1.30%	-22.70%
Palm Springs/Lower Desert	$371,840	$369,700	0.60%	-27.30%
Riverside/S.B.	$381,390	$400,660	-4.80%	-41.60%
Sacramento	$342,730	$374,530	-8.50%	-25.90%
San Diego	$588,700	$601,760	-2.20%	-20.70%
San Francisco Bay	$805,400	$752,820	7.00%	-23.40%
San Luis Obispo	$570,770	$580,800	-1.70%	-14.50%
Santa Barbara County	$801,360	$752,260	6.50%	-16.80%
Santa Clara	$836,775	$775,000	8.00%	-22.70%
Ventura	$673,940	$685,960	-1.80%	-28.80%

There's a Walt Disney outlet store opening in a few weeks in Pismo Beach. It's in the Pismo Outlet center where Mikasa used to be. They are test marketing in the area and will only be open from March 14 - May 11 and then will determine if they'll open a permanent location on the Central Coast.

You can get Disney stuff for up to 80% off. This is a great deal, especially if you've got kids and are traveling to Disneyland. You can buy some stuff here, take it with you, and then give it to your kids when at Disneyland. They'll be happy and you'll save $$$ from not buying it at Disneyland.

Looks like Michael Jackson's Neverland in Los Olivos will be auctioned on March 19th in Santa Barbara. This should be interesting...

Here's a good article on how your credit score impacts your ability to get a loan. In it, there's a link to a site where you can get free credit reports once a year from 3 credit reporting companies. If you want your FICO credit score, it will cost you $5.95 from one and $7.95 from the others.

I got a report from all 3 and my FICO score from the $5.95 one so it does deliver what it says it will.

About 10 days ago I reported that market activity appeared to be picking up. Well, we have 2 more days to go and we will need a bunch of Pending Sales to break 400. We're sitting at 357 for the month thus far.

I have a really good Spam email blocker that I've been using for years which catches over 99.9% of unwanted emails but a few do get through once in awhile. One that got to my inbox today started with

"The California foreclosure explosion provides a great opportunity for CA real estate agents to help families and generate healthy commissions".

It went on to supply a link to a marketing program to make boatloads of dollars by sitting on the beach doing Short Sales. I'm including the site here as I think it's a HOOT to see what people will do to try to make a buck - http://www.myshortsaleclub.com/

If you read it you'll learn such marketing practices as placing "bandit signs" everywhere and take the fines from the local city sign ordinance since you'll be earning thousands on every short sale transaction anyways!

The reality is that I haven't talked to a single REALTOR yet that hasn't had a heck of a tough time dealing with a Short Sale and most want to AVOID them.

I calculated the monthly average Days On Market (DOM) for single family homes since January 2005 for SLO County and have included the graph on the http://www.slowatch.com/ home page. I also updated the Sold graphs towards the bottom of the SloWatch home page.

The Lindsay Lohan film which included scenes filmed in San Luis Obispo won a record 8 Razzie awards this morning. I Know Who Killed Me awards included worst film of the year, worst director, worst screenplay, and worst actress.

Showgirls and Battlestar Earth previous held the record of 7 Razzies.

Maybe Lohan's film will become a cult favorite and people will be coming to SLO to stay in the room Lohan ruined by her chain smoking at the Apple Farm Inn (which has since been remodeled).

KSBY has their 2nd part of their series on the local home market. (read article here) In it, they report the following median home price changes from the peak of 2006 to 2007.

Santa Maria Valley: -14.5%
San Luis Obispo: -11%
Cambria to Los Osos: -6.4%
Paso Robles, Templeton: -5.5%
Atascadero, Creston, Santa Margarita: -2%

Interesting...San Luis Obispo has had the lowest Months of Inventory over the past two years so having it the second largest price drop doesn't add up. From the Median Home Price calculations I do on the SloWatch.com site, here are the median price percent changes from 1st half of 2006 to 2nd half of 2007. These calculations are specfic to single family homes (no condos, PUDs, mobiles):

Arroyo Grande homes: -27.4%
Atascadero homes: -9.9%
Cambria homes: -9.1%
Cayucos homes: +0.3%
Grover Beach homes: -10.0%
Los Osos homes: -14.4%
Morro Bay homes: -20.7%
Nipomo homes: -14.7%
Oceano homes: +2.9%
Paso Robles homes: -11.0%
Pismo Beach homes: -2.8%
San Luis Obispo homes: -6.5%
Santa Maria homes: -26.5%

I wouldn't focus too much on the cities with a low number sales over the time period (Cayucos, Oceano). If you want to look more at the details on what homes sold in what price ranges over this time period, go to the www.SloWatch.com homepage and scroll down to city stats and choose "Sold Report" for a particular city. For example, Arroyo Grande had 27 homes over $1M sold in the first half of 2006 compared to 16 for second half of 2007. The highest priced home in 1H 2006 was almost $3 Million compared to a little over $2 Million in 2H 2007. This could explain some of the median price change in AG.


I'll be doing the 1st Quarter 2008 median price calculations at the end of March.

http://www.slowatch.com/median_home_prices.htm

The wireless word is out!

Jack in the Box is secretly testing FREE Wi-Fi access at 10 of their restaurants in Arizona and California and two are on the Central Coast. The one in San Luis Obispo and a Santa Maria location at 830 Broadway are reported to have the free Wi-Fi access with plans to add access to other Central Coast restuarants in April and May.

To connect, go into the store and get the 5 digit access code that's displayed on the TV in the store. The SSID network name is "jackwifi". You are able to get 2 hours of free Internet access every 12 hours. Now you can search SloCountyHomes.com while eating those Jumbo Jacks!

And while I'm on the topic of fast food, the Shamrock Shake is back at McDonalds. It's been a few years since the area McD's have had the Shamrock Shake but we got it this year.

Tonite on the TV news I saw a report on a conference on the home market that recently took place in the North County. The news report talked about a real estate professional at the conference stating that prices may have bottomed out and the lions share of depreciation has already happened.

I decided to take a look at the current numbers for North County to see if things have changed that much since the first of the month. In Paso Robles, inventory has dropped slightly from 457 active homes on 2/1 to 450 currently. Months of Inventory (MOI) stands at 19.6 months, down from 21.8 on 2/1.

For Atascadero, inventory has risen from 265 on 2/1 to a current count of 284. Months of Inventory is at a whopping 32 months.

As you may already know, 6 months of inventory is considered to be a neutral market. More than 6 months is a Buyers market. A market over 12 months is an indication that price reductions need to happen.

I would have liked to have heard this presentation first hand to see if there were any facts presented to back up the opinion that prices have bottomed out. But with the data that I've looked at, it doesn't appear prices have come close to hitting bottom yet for the North County. There may be some neighborhoods that have depreciated faster because of a foreclosure or a home priced at what it takes to sell today which is why your Realtor really needs to do a lot of homework before you list your home. If Realtors send out the wrong message about the market to homeowners wanting to sell, the owners may sit on the market with an overpriced home as the pricing curve continues to decline. That will increase inventory even further which will create stronger downward pressure on prices. You lose money when you don't sell month after month in a declining market. I hightly doubt this market is going to bottom out tomorrow and then appreciate 5-10% in the next few months to catch back up to the point where a lot of homes are currently priced at.

If you are sitting with a house for sale in a market with 32 months of inventory, you NEED to get in front of the pricing curve to have a chance of selling. Chasing it as it declines (or not taking any pricing action when your home isn't selling) will not give you many chances of selling, just lots of frustration.

If you do have your home on the market for many months now, I'd contact your Realtor and insist they present to you what it will take to sell your home in the next 30 days. If they don't provide you with a detailed analysis on current market conditions and only a recommendation based on their "opinion" without any data to back it up, I'd look to see if you can terminate the listing agreement and find a Realtor who understands what it will take to sell in this market.

If you are a Buyer, do you want to go with a Realtor that believes prices have bottomed out with an inventory sitting at 32 months? There is plenty of data to analyze to see what a good offer price is for a home. If a Realtor thinks prices have bottomed out then they are probably going to recommend going in at list price. Depending on the home, you could be overpaying. I'm not recommending low ball offers, just encouraging you to perform the same pricing analysis on a home as if you were going to sell it to come up with the fair market value.

I updated both the Just Sold and REO reports.

http://www.slocountyhomes.com/just_sold.htm

http://www.slocountyhomes.com/reo.htm

For the Active REO listing report, I had to break Santa Maria into Northern and Southern sections as the number of active foreclosures/short sales exceeded 300, which is the max for my reporting program.

Here's a chart from a Homegain survey on what items returned the most on the investment in Sales Price. (you'll need to click the chart to display it large enough to read it.) The survey showed that spending a few hundred dollars on cleaning and decluttering generated the most Return On Investment (ROI).

Jumbo mortgages: The best deals

Rates on big mortgages are unusually high. Here are some tips for bringing down the cost of borrowing to buy that expensive house.

Read the article here

I found a really cool program to quickly touch up portraits you take with a digital camera. It takes less than 2 minutes per photo, a lot less time than doing it in Photoshop and you don't need to be a Photoshop pro to do it!

The program is available here-
http://www.portraitprofessional.com/

You can download a trial which will let you work on your own photos to see how it's done and how they will look but will not save without a big "Preview" on the photo.

I tried it on a bunch of photos I took of my daughter's friends for their winter formal last week and the program worked so good (and quick) I purchased it!

Here's an interesting article sent in by a blog reader about pricing your home using sometthing other than 000 at the end.

I briefly looked at recent homes have sold at and didn't see the properties ending in 000 getting a lower percentage of list price than those ending with 500 or 900 in their price. I'm sure there may be a good reason to do this just like pricing something for 99 cents vs. 1 dollar. In the past, I've priced properties with 990 at the end. Maybe I'll try something like 943 at the end next time to mess with people's heads but not sure if 500 would do anything other than listing the home 443 dollars less.

But, I do agree that you do need to price today thinking about people searching the Internet. Most searches have drop down menus for prices. If I had a home worth $800,000, I wouldn't price it a $800,000 since you'd miss people searching "lower than $800,000" category, just as I wouldn't price at $776K because of the $775K drop down choice.

If you are signed up to receive new listings notiication and have a Yahoo email address, you may have noticed that you aren't getting them. Yahoo is currently refusing delivery of emails from my vendor that sends out the new listing updates. If this effects you, I'd send Yahoo an email with a forward of one of the new listing update emails and tell them you want to receive emails from them.

The Central Coast real estate market has picked up in the last week. Halfway through the month we're at 204 Pending Sales (vs. 87 for the first 7 days). New Listings are at 318 and price changes are 427.

If this continues, we should break 400 Pendings for the month. We haven't seen that since last July (and February is a short month)!

The following is from an email I received from the California Association of Realtors

How economic stimulus package addresses mortgage crisis

President Bush Wednesday signed off on the $168 billion stimulus packaged approved by Congress last week, which, in addition to tax rebates for millions of working Americans and business owners, includes a vital, but temporary increase in the conforming loan limit. The economic stimulus package will allow the Federal Housing Administration, as well as Fannie Mae and Freddie Mac, to offer mortgages above the current conforming loan limit of $417,000 to as much as $729,750 in high-cost areas using a formula that considers an area’s median home price. The increase would only apply to loans originated between July 1, 2007 and Dec. 31, 2008. A host of details remain to be worked out, including how the median home price is established.

MAKING SENSE OF THE STORY FOR CONSUMERS

· It could be several months before the impact is felt in the mortgage markets. Wall Street is still working out whether investors will want to bundle securitized loans above $417,000 with loans below that level, or if they will invest in them separately.

· Rates for such loans might be higher because banks fear larger loans are riskier, but they’d still likely be lower than current jumbo rates.

· Even though the proposal does not apply to loans made before July 1, borrowers with older mortgages could refinance into new loans that would be sold to Fannie and Freddie, because those loans would be considered new loans.

I heard a sad statistic on the TV news tonight that animal shelters are seeing a rise in the number of people surrendering their pets largely due to having to move because of a foreclosure.

My youngest daughter and I stood in line for 3 hours at Borders in SLO last night to get a Chuck "the Iceman" Liddell autographed book for my nephew. It was a nice SLO weather night and my daughter and I had a good time. It was my first booksigning I've been to (and hers) so it was interesting to people watch. What I learned from this event was to come earlier than 10 minutes ahead of when the booksigning is to begin or be prepared to wait a while!

I'd like recognize Chase Bank's credit card fraud department for their services. I received a text message on my phone this morning from them asking about a suspect $49.99 charge made today. I also received a phone call from them. After calling them and reviewing some suspect charges, I found out that someone in Chile and Argentina was charging my credit card. Needless to say, they closed that account and I'm getting a different account number.

Since I do a lot of online purchases, it's hard to figure out how people get the credit card numbers. I'm starting to look at credit cards like I do Microsoft Windows. After awhile you're bound to have headaches and it's just a good idea to start from scratch every so often...

Cuesta College had a record enrollment for the Spring Quarter with 11,844 total students. The North County Campus increased by 6.5%, the South County Campus had an 18% increase, and distance education a 11% increase.

The cost to mail a letter will rise once again. On May 12th, first class postage will rise a penny to 42 cents and a postcard will be 27 cents (up from 26 cents). You can still buy the Forever stamps at the current price of 41 cents which can be used no matter what the price may rise to.

One thing that I have noticed is that the number of mailings I get from other Realtors to my home have decreased over the past years. Part of that is the declining market as most Realtors don't have that much of a marketing budget these days. Plus, mailings to homes aren't as effective in getting listings as they once were.

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Above are my Keith Byrd 37 cent stamps I purchased many years ago. When Photo Stamps first came out (and I was still doing neighborhood mailings) I ordered a bunch on the first day they became available. This was before they stopped allowing names on stamps. I guess they are sort of a collectors item these days....

I'm not sure the reason but there are more properties showing up in the MLS that don't even have a single photo on the listing. This is a major mistake! If you want your property to be skipped by agents searching the MLS, not including a single photo is the way to do it.

Unfortuantely, once you sign a listing agreement there isn't much you can do unless you put something in the agreement that says "At least one photo must appear on the MLS listing at the time the listing is entered into the MLS or the Seller may terminate the Listing Agreement".

Remember you can add whatever you want to the Listing Agreement. Don't think that because these contracts are from the REALTOR Association they can't be modified. Make it clear what service the Listing Agent will provide BEFORE you sign to a multi-month contract. Unless you include something, the standard contract doesn't allow the Seller to terminate the listing agreement if you're not happy about the service you're getting.

Through the first 7 days of February, market activity looks a lot like January.

146 New Listings
243 Price Changes
87 Pending Sales

My teenage daughter has been raving how great the following web site is. It's a career site that asks questions and provides the careers that you may like based on your answers. Not only does it provide the job titles but descriptions of the jobs as well. It also has a good college search tool.

The site is www.bridges.com but it looks like you need an id from the school to access it. If you have junior high or high school kids, ask them if they have ever heard about it at their school.

I wasn't planning to blog again about the gang problem but I watched TV news yesterday and they reported two gang-related stabbings in Oceano in the last three days, I didn't see it mentioned in the Trib. We'll see what the Times Press Recorder says about it in their Friday paper.

Median home prices in California may drop up to 10 percent this year

Here's another article, this one is about the chief economist of the California Association of Realtors revising her earlier predications that California prices would drop 4 percent this year.

"In general, statewide, "The lower the median home price, and the cheaper the dirt, the more likely it is that prices are falling" and that the area was plagued by high levels of subprime lending, she said."

Read the full article here

(click the photo for a larger one)

I tried out the disc golf course at Heilmann Park in Atascadero today. It was a nice park and not crowded at all. I only had a chance to play a few of the tees but enjoyed it. I plan to come back when I have more time.

If you haven't tried disc golf, you can pick up a multi-purpose disc for around $7 at Big 5 or other sporting good stores. Then just go and throw. Doesn't matter how many throws it takes to make it in the basket, just have fun!

There are two other courses on the Central Coast. The one at Waller Park in Santa Maria is my favorite, especially the first 7 tees which is in the grassy area. Sometimes, I'll just play the first 7 and then just repeat them over again.

The other disc golf course is in Sinsheimer Park in SLO. It's a smaller 9-tee course and one I'll stop at and throw a quick round when I'm in SLO. While there aren't that many trees, I've got more discs stuck in limbs than any other course I've played.

So give it a try. You'll get some exercise and it's FREE (except for the cost of the disc).

Here's an interesting article sent in by a blog reader about homeowners walking away from their mortgages.

"And while a mortgage default can savage a person's credit record, trying to pay off a loan they can't afford could be worse for borrowers if it leads to bankruptcy, said Craig Watts, a spokesman for the credit reporting firm Fair Isaac.

Credit scores are hurt much more by missing multiple payments - on credit cards, cars and so on - than by a single foreclosure. "

Read the full article here

How about that sun today??

I've had a craving for a good tri-tip sandwich lately and was in downtown SLO so I had lunch at the Firestone Grill. I don't know if you've been by there lately but the flower stand that used to be in front is gone and they made it an outside seating area. There are a couple fireplaces in it as well but haven't seen them turned on yet. Today you didn't need one though!

We have a gang problem in SLO County

I wanted to just come out and say that as others either aren't aware of this or don't want to talk about it. The Sherriff's department recently went to the Board of Supervisors asking for additional staffing for gang prevention.

The Times Press Recorder, a 5-cities local paper, published an editorial in last Wednesday's paper about the request for additional resources to try to stop (or at least slow down) the gangs coming into the County. The editorial tries to downplay the gang problem in the County by saying that Santa Maria has 2400 known gang members but SLO County only has 1200 known gang members.

Unbelieveable! Yes Santa Maria has a bigger gang problem which only should raise a very LARGE red flag that we need to do more to stop the gangs at the County line. 2400 of Santa Barbara County's 3100 total gang members are in Santa Maria.

We have 2 deputies currently in the gang task force to serve the entire County and the 31 known gangs. What is also fact is that the 18th Street Gang recently has entered our County. Wikipedia calls this gang "the most violent and aggressive street gang in the country". It's just a matter of time before the city of SLO has gangs too as they are coming down from the North and coming up from the South.

I don't think there is a choice. We have to put the effort to prevent the gangs from growing in our County. We either pay now or pay later. While the Times Press Recorder may say that cutting other department budgets to pay for increased gang prevention is too painful, I don't see we have a choice. We need to protect our economy and tourism is a big piece of that. What will be the impact on tourist revenue if we start having gang shootings or stabbings on Pismo Beach or in San Luis Obispo? Don't people realize that we have gangs from other areas (like Fresno and Bakersfield) visting the beaches every year? What will happen when a local gang claims those beaches as their turf??

If we just sit back and wait to react to gang crimes, we're going to need to invest in expanding Juvenile Hall and the County Jail. Seems like that approach will be LOTS more expensive to come up with the money to build those facilities plus staff them 24 x 7. Neighborhood home values are also at risk. Why isn't there a Megan's List-like database for all known gang members?

Gangs are a threat to our Quality of Life that we treasure here on the Central Coast. Shouldn't this be the #1 priority for residents and every business that relies on the tourist industry? While I hate to bring up another tax, maybe a Quality of Life tax to protect what we have here is the only way we can find a quick source of funding. I don't think we have time to sit around and talk about future places where we may get funding from.

If you want to learn more about the current situation, read this document which is the proposal to the County Board of Supervisors and an addendum of gang information in our County submitted by multiple law enforcement agencies.

Progressive Farmer magazine just released their "Best Places to Live in Rural America 2008" report. No Counties in California made their Top 10 list but they have this search tool that you can choose the importance of items like low crime, warm climate, fewer neighbors, affordability, etc. I tried all sorts of combinations but never could get SLO County to show up as an option. I got Santa Barbara County to display though.

You can try for yourself here

I updated city inventory reports as of today and the 4th quarter 2007 sold reports. If you go to the www.SloWatch.com site, scroll down until you see the "City Stats" section. You'll see "Inventory Report" and "Sold Report" under each city name.

Mortgate Rates

15 Year Mortgage

Current - 4.95
1 Month ago - 5.33
3 Months ago - 5.54
6 Months ago - 5.93
1 Year ago - 5.61


30 Year Mortgage

Current - 5.47
1 Month ago - 5.79
3 Months ago - 5.91
6 Months ago - 6.26
1 Year ago - 5.85


1 Year ARM

Current - 5.10
1 Month ago - 5.48
3 Months ago - 5.65
6 Months ago - 5.49
1 Year ago - 5.41

Here's an update I'm pleased to post...

Max the dog has been found and is back home!!

So what does Months of Inventory mean?? This is from an article that talks about pricing a home....

"If there are eight months of inventory on the market, the probability that a seller will sell in any given month is 12.5 percent. The probability that the seller will not sell is 87.5 percent. Consequently, sellers who want to place their properties under contract must position their property in the marketplace where they will be in the best 12.5 percent in terms of value, which is a combination of condition and price. If not, their listing will sit on the market until it expires or until they lower their price sufficiently to motivate a buyer to purchase it."

When you are presented with a list price for your home when interviewing Realtors, make sure you understand how they came up with this price. If they are using comparables from over 6 months ago, they need to be adjusted to the current market conditions. It takes A LOT of research and analysis to come up with a price that will sell a home without leaving money on the table these days. In the "good ole days", if you priced a home too high you just had to wait until the market appreciated up to what your home was at. Today, if you price it too high, you risk sitting on the market for a long time. If you do gradual price drops, you may also just be chasing the market pricing curve rather than getting in front of it.

I have a nifty program that will take the comparables and print out a nice color Comparable Market Anaysis (CMA) with the recommended price. It takes me about 15 minutes to generate one of these. But, chances are the price suggested would have been something to use in our market over a year ago and is just too high in today's market.

I recently did a price analysis for a homeowner in San Luis Obispo. I spent nearly three hours analyzing comparables and other data. Another Realtor on my team also worked on the pricing and we then got together and presented each other with our analysis and then debated our reasoning.

Another Realtor had presented the homeowner with their recommended price which was considerbly higher than what we were proposing. That creates a bigger challenge as we didn't know if the other Realtor was trying to "buy" the listing or that their price came from a quick analysis of compables. For this particular home, the Months of Inventory was over 12 months too.

If you look at the facts, we've had over 6,000 price changes happen over the last 6 months. I'm sure that most of the Realtors believed that the price they were suggesting would bring a Buyer but MANY were incorrect. There is nothing magical about having Realtor on a business card or having x amount of years of selling experience that's going to determine the price a home will sell at. You have to do a thorough analysis of the market, comparables, Months Of Inventory, location, condition, competition, marketability of the home, presentation, etc. to find the price that it "should' sell at. But it doesn't stop there. When a home goes on the market, you need to keep looking at what's going on in the market to see if you are still priced to sell.

Central Coast MLS Statistics -Residential -January 2008

(Last months data is also included - January (December))

New Listings - 671 (403)

Back on Market - 393 (230)

Price Changes - 1007 (636)

Contingent - 70 (50)

Pendings - 364 (285)

Solds - 214 (233)

Expireds - 800 (405)

Inactives/Withdrawns - 299 (270)

The above data includes SLO County Plus Santa Maria/Orcutt.

January's numbers looks a lot like last October's. Pendings jumped back over 300 (to 364) and we once again had over 1,000 price changes. If you look at last January's numbers on the chart on http://www.slowatch.com/, you'll notice that the number of price changes wasn't so high. The other item that was really high were Expired listings. But, Back on Market also had a high number so some of those Expired listings were relisted.

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Months of Inventory (MOI) for SLO County came down a bit as shown by the graphic above. If you go to the Inventory page - http://www.slowatch.com/inventory.htm - you'll see the Months of Inventory for individual cities. Arroyo Grande and Grover Beach had some good sales activity in January which lowered their Months of Inventory to under 10. The City of San Luis Obispo increased to double digit Months of Inventory for the first time since I started tracking MOI last summer.

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If you scroll down on the inventory page you'll see the inventory levels per city. Cambria, Grover Beach, and Paso Robles had big inventory level drops. Morro Bay and San Luis Obispo had increases.