New Listing! Comfortable Pismo Beach Condo

This 1-bedroom includes a full kitchen, pull out couch, living room and large bedroom. Enjoy comfortable living a few blocks from Pismo State Beach with access to the Plaza jacuzzi, BBQ area and your own patio. HOA fee covers all exterior maintenance, management and utilities. Ideal for owners who want to spend part of the year along the Coast; come stay for a few days or a few weeks and let management take care of the rest. Asking $139,000

New Listing! Gorgeous Morro Rock Panoramic View!

This beauty is located in the hills with panoramic views of the harbor, city & Morro Rock! Large & spacious masterpiece with new double-door entry. First level has a bed and bath, laundry room, deep storage area under stairs. Second level is light & bright with soaring ceilings and open floorplan: kitchen, dining area, living room, custom built-in wet bar, 2 bedrooms. Recessed lighting, vinyl windows & sliders off living room & dining area with balcony to enjoy the views. Large walk-in food pantry & wet bar with mini-fridge & sink. One bedroom has a sliding glass door to a balcony and a deep & high closet for max storage. Skylights located in hall & master bedroom, ceiling fans throughout. Only six steps to Master Bedroom with custom blt-in entertainment center & matching night stands, walk-in closet with built-ins, plantation shutters. Master bath with deep soaking tub, separate shower & dual sink vanity. Low maintenance yard, close to shopping, schools & transportation. Listed at $759,000

CCL Market Update: Personal Income, Consumer Confidence, Employment Reports, Mortgage Rates

Over the past month inflation has shown no change, yet consumers seem to be steadily making and spending money. Personal income rose 0.3% in August, and wages & salaries followed suit with 0.5% and 0.6% increases in the last couple of months. As a result, consumer spending rose 0.4% in August. The 4.6% savings rate for the month may be a sign of increasing consumer confidence. Considering the savings rate has been inching lower since the 4.9% rate seen in April, consumers seem to be increasingly more willing to spend while saving less. A rise in rent prices likely affected the consumer savings rate as well.

September consumer confidence is on the rise, despite recent stock market losses. The index rose to a much higher-than-expected 103.0, supported by the present situation component, which jumped more than 5 points to 121.1, and indicates continued strength in the labor market and consumer spending. This is the best reading of the recovery, since all the way back to September 2007. Consumers have assessed the current jobs market as very strong, with 25.1% describing jobs a plentiful, and 24.3% describing jobs as hard to get. Moving to consumers’ economic expectations, 19.1% see an increase for future income, up nearly 3 percentage-points from August.

Jobless claims seem to be pointing to continued tightness in the labor market. Initial claims for the week of September 26 did rise 10,000 to a higher-than-expected 277,000, but the 4-week average is down 1,000 to 270,750, nearly 5,000 below the month-ago comparison. Continuing claims for the week prior dropped even lower, down 23,000 to 2.219 million. The 4-week average of the week of September 19 dropped 10,000 to 2.242 million, nearly 20,000 below the month-ago comparison.

Despite the continued low levels for jobless claims, the September employment report came in weaker than expected. Average hourly earnings remained unchanged with a year-on-year rate of 2.2%, and the labor market tightened due to a 0.2% drop in labor participation to a nearly 40-year low of 62.4%. The manufacturing sector has weakened, as payrolls fell 9,000 in September following an 18,000 decline in August. This is primarily the result of weak foreign markets, and the negative effect of the strong dollar. Mining was also hurt, with payrolls dropping 13,000 in September and 22,000 in August, largely due to low commodity prices. The average work week decreased 1-tenth in September to 34.5 hours, another sign of weakness for employment. This is another area that manufacturing showed weakness, with a 0.6% decline in hours. Unless employment bounces back in a big way in October, an FOMC rate hike continues to look unlikely.

Mortgage Rates

Rate movement was varied between the different loan programs over the past week, although those that did move did so minimally. Both manufactured programs (FHA and conventional) displayed rate increases, although both were by less than 5 basis points. The high balance, jumbo, FHA 203k, and VA loan programs all remained unchanged from the previous week. The remaining loan programs all had slight rate decreases, that largest drop shown by the 30-year conventional, down 10.6 basis points from the previous week to 3.750% (3.809% APR). This is the lowest 30-year conventional rate since April, and is solidly below the year-ago rate of 4.125% (4.140% APR).

Sean Becketti, chief economist for Freddie Mac, noted that the minimal movement by mortgage rates was a “contrast to the volatility in equity markets.” He went on to say,

“This marks the tenth consecutive week of a sub-4-percent mortgage rate. Despite persistently low mortgage rates, the pending home sales index dropped 1.4% in August, suggesting possible tempering in existing home sales in September.”

As mortgage rates remain below 4.000%, now is a great time to contact the Mortgage Experts for your home purchase or refinance! With our 21-Day Processing method, you can make a stronger purchase offer, reduce stress, and save money! Give us a call at 805.543.LOAN to discuss your mortgage options and to get a free rate quote.

New Listing! Charming Pismo Beach Cottage.


Own a piece of history in this vintage 1941 charming beach cottage. This rare gem is located in the highly sought after neighborhood of Shell Beach and is just steps away from panoramic cliffs and ocean splendor. The interior boasts fresh paint, hardwood flooring, a cozy fireplace and a sunny window seat for lazy afternoon relaxing. Front landscaping has freshly laid sod and new planter which offers great curb appeal. After a fun day in the surf, rinse off in the private back yard with the outdoor shower and enjoy a romantic soak in the raised tub spa. Great schools nearby. Walking distance to dining and easy access to beaches and Highway 101.

New Listing! San Luis Obispo


Everything you want to call home: Clean and cozy with custom and tasteful updates. This move-in-ready, 3 bedroom, 3 bathroom home in the Los Ranchos school district is what you’ve been looking for. The main living space has vaulted ceilings and abundant natural light. Two bedrooms and 2 bathrooms are downstairs with a master suite on the second floor. The property is nestled up to open space which creates a private and tranquil appeal to the home and yard. Lots of natural light, Two master suites, Newer roof, Newer windows, Newer furnace, Wood flooring, Granite kitchen counters, Stainless Steel appliances, and air conditioning.