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Affordable Living Right at the Ocean!

Check out this super cute home with fantastic views of both the ocean and mountains. Located in the premier mobile home park, Mesa Dunes, you’ll have access to two pools, each with their own clubhouse, fitness trails and parks. Priced at $179,000, you’ll have 4 bedrooms, 2 baths and over 1500 sq. ft. of living space. See more at https://www.youtube.com/watch?v=80hl5bWczT8

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Written by Keith Byrd - Go to Keith's Website/Profile

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Market Update

CCL Market Update:

PMI Manufacturing Index

The manufacturing PMI finished March at a steady and firm rate of 55.6, 1 tenth lower than the mid month flash and three tenths above February’s reading. Strength in new orders; including export orders, is a highlight of the March report as is a 3-year high for business expectations. Output is strong but slowing and the sample continues to hire but at an easing rate. Capacity strengths are evident including the sharpest increase in delivery times in four years as well as a jump in input costs with respondents citing rising tariffs and also rising cost of raw material. These higher prices are being passed through to customers with rising selling prices currently at a five year high. The data in these past few months are showing accelerating factory conditions including building and signs of inflation.

ISM Mfg Index

ISM manufacturing eased back from February’s 14 year high, slipping 1.5 points and back below 60 to what is still a strong number at 59.3 for the month of March. Judging from the strength for orders, including both export orders and backlog orders, suggest the PMI may return into the 60 range in the next couple months. Questions of capacity stress have to be raised given a second 60-plus reading for supplier deliveries which indicates lengthening times and suggest that the supply chain is increasingly jammed up. Input costs, at 78.1 are at an 8 year high. But stress, isn’t appearing yet in the employment sector as the sample continues to find available applicants with related index at a very strong 57.3, which is down nearly two points from February.

Construction Spending

Construction spending has been soft as it only inched 0.1 percent higher in February after no change in January but there are signs of strengths in the details. The most important gains are being posted for new single family homes, up 0.9 percent for a second straight month for a yearly gain of 9.5 percent. Multi-family homes, where spending has been were, bounced back a monthly 1.2 percent for a yearly 0.9 percent for a second increase. The weakness in February’s overall report comes from homw improvements which fell a monthly 1.5 percent for only a 1.4 percent gain. Public spending also weakened in February with educational and highway spending both slipping into slightly negative group on the month. But private nonresidential spending is a positive, up 1.5 percent on the month though the year on year spending is still subdued at 1.1 percent. Power and manufacturing construction have been showing the most weakness though has they both posted gains in February. Transportation, despite a slip in February, has been very strong as has commercial building while office spending after a large monthly jump moved back into the positive column for its year on year rate. Overall year on year spending is still subdued, down 2 tenths to only 3.0 percent. Yet the gains in single family homes are a big plus for the housing market and should help build expectations for a desperately needed rise in housing supply which in turn would be a major plus for housing sales.

Mortgage Applications

Purchase applications for home mortgagees fell a seasonally adjusted two percent the week of March 30th, shrinking the year on year gain in the purchase index by 3 percentage points to 5 percent. Refinancing applications fell five percent in the week puling down the refinance share of mortgage activity by 0.9 percent. Despite the weekly decline, purchase applications continue to show solid year on year gains and point to housing market strength.

PMI Services Index                 

New orders remain strong but did ease in the month of March, pulling down the PMI to 54.0 for the month’s final reading vs 54.1 at mid-month and noticeably lower than February’s 55.9. Orders aside, output remained strong and hiring accelerated as well in the month for the best showing since last August.

ISM Non-Mfg Index

Unusual strength eased a bit in March for ISM’s non-manufacturing sample as the index came in near expectations at 58.8 vs. 59.5 in the prior two months. Growth in new orders remains very str5ong though the index is now under 60 at 59.5, for the first time since December. A key positive was a 1.6 point rise in employment to 56.6 which is strong for this reading.

Jobless Claims

After holding steady near record lows since the middle of January initial claims jumped 24,000 higher to 242,000, well over economists’ high estimates. There are no special factors behind the jump. Continuing claims in an offset, fell a very sizable 64,000 to 1.808 million in the week of March 24th which also falls outside the sample period for the monthly report. The unemployment rate for insured workers is unchanged for a fifth straight week at a very low 1.3 percent.

Employment Situation

March payroll growth of 103,000 is well below expectations but wage indications from average hourly earnings do show a little pressure as was expected, up 0.3 percent on the month with the year on year rate up 1 tenth to 2.7 percent. The unemployment rate did not move down which was the consensus among economists, instead it held steady at very low 4.1 percent. Looking at payroll growth, February and January have both been revised with a net of minus 50,000 as the result. The first quarter average of 202,000 is a bit below the fourth quarter’s 221,000. The breakdown for March shows another very strong showing for manufacturing up 22,000 which hits economists’ consensus and with professional and business services, a key component for tracking labor demand, rising a respectable 33,000. Yet the temporary help subcomponent for tis reading fell 1,000 after rising 21,000 in February. Construction payrolls which have been on the rise, fell 15,000. Retail also fell, down 4,000 in the month.

Written by Central Coast Lending - Go to Central Coast Lending's Website/Profile
805.543.LOAN info@centralcoastlending.com
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New Listing! 3 Bedroom Country Club Home

Complete “Walls In” re-model of this 2800 sq.ft. 3 bedroom, 2 and 1/2 half bath golf course home. Features list is HUGE including: Complete kitchen remodel & breakfast nook with Wolf range & exhaust system, Subzero Refrigerator–restaurant quality, Sharp tray microwave, Bosche dishwasher, wine refrigerator, farmhouse sink, hammered bar sink, & corresponding hardware , granite counters & new custom cabinets, sit-down bar counter. All new interior & exterior lighting systems from Stollmeyer, Sonos whole-house audio-video system, including outdoor ‘back-deck’ coverage. Contractor Glass high-efficiency window upgrades. All new flooring-Stone in kitchen, bathrooms, laundry room & front entry, Carpeting in bedroom, Hardwood in living areas and hallway.
Bruce Freeberg 805.748.0161

Written by Keith Byrd - Go to Keith's Website/Profile

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New Listing! 3 Bedroom 1 Bath Move-in-Ready

Orcutt, Move in Ready 3BD/2Bath Home. Open floorplan with built-ins, living room pre-wired for home theatre. Kitchen updated with granite countertops and stainless steel appliances. Master Bedroom has built in dresser, Master Bath with dual sinks and tiled shower. Covered patio with stamped concrete in back yard. Nice yard space with Orange Tree. Leased Solar System with Sunrun. Edgewood Community park for residents to enjoy. Near 101 Freeway access and Orcutt Schools!!! **Information deemed reliable but not verified or by broker**
Shea Hutchinson 805.260.6322

Written by Keith Byrd - Go to Keith's Website/Profile

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New Listing! Santa Margarita Home on Quiet Acreage

Remodeled 880 square foot, 2 bedroom, 1 bath home with an open feel, in the country on 4.08 quiet acres. This home comes with a carport, small shop, and a C Train. There is about 2 acres that are useable. Bring the animals! Lots of oak trees, and grey pine. The seller is willing to leave everything if you want it. You can step right in and have the tools to maintain the property including a generator. Spend the evenings on the front porch, pull the shades to block the sun. Enjoy the new restaurant at the Pozo Saloon, or enjoy dinner at the Range in Santa Margarita. This property is about 35 minutes from San Luis Obispo. Does your Cal Poly Student have a horse, this is the perfect spot for it. Santa Margarita has some beautiful areas to ride horses, or hike. My favorite is the “the lake trail” off River Road, or ride motorcycles at Turkey Flats.
Kathy Birkhahn 805.610.6650

Written by Keith Byrd - Go to Keith's Website/Profile

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New Listing! Spacious 3 Bedroom 2 Bath Home in Orcutt

Sunrise Hills! This great one story home offers so much – including over 2200 sq feet of living space! With new quartz countertops, stainless steel appliances and beautiful flooring, this three bedroom home is move in ready. There’s a roomy living room, family room, dining room, breakfast bar and breakfast area. The guest bathroom offers privacy with a separate door to the shower area and to the outside as well. The master suite is privately located in the back of the home and features ample space for a king size bed and all the furniture you’d want, although you’ll have plenty of room for clothes in the walk in closet. The indoor laundry room and spacious back yard finish up this home. The bonus for this home is the cul de sac location and south facing yard including RV parking!
Wendy Teixeira 805.310.3505

Written by Keith Byrd - Go to Keith's Website/Profile

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New Listing- 3 Bedroom 1 Bath in Creston

Here is an opportunity to own a beautiful piece of property with rolling meadows, incredible views, and a secluded sense of privacy. A citrus grove on the property has been tended to for years, producing some of the best fruit you can imagine, including Ruby Red Grapefruit, Blood Orange, Valencia, Navel, Summer Navel, Lime, Limequat, Kumquat, Lemons, Peruvian Citrus, Cherimoya, and Tangerines. The mobile home was updated in 2013 and has been continuously rented to the same tenant since. The well is 410 ft deep and the septic system was replaced in 2012. The interior photos in the listing are from 2013, prior to the tenant’s occupancy.
Kesha Toler 805.503.9239

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New Listing! Beautiful Paso Robles Home

Be prepared for the Wow factor! This beautiful three bedroom home is full of character, warmth and charm. Located in an established East Side neighborhood, with views, you will find easy access to 101 or a quick walk to the downtown amenities. Inside offers a beautifully remodeled kitchen and two recently remodeled baths, three bedrooms, plenty of storage and loads of light. A newer roof and windows add extra value. The sunken living room is cozy with two sliding doors highlighting the large park-like backyard. Garden, play, relax or entertain. The backyard is huge and usable. Mature landscaping front and back highlight the established essence of the home. Complete with a two car garage offering lots of storage and two garage doors, opening front and back, for easy access. Call your agent today to make an appointment before this exquisite home belongs to someone else.
Kim Croft 805.689.2654

Written by Keith Byrd - Go to Keith's Website/Profile