Month: September 2016

Premier location for a luxury 2 bedroom, 2 1/2 bath beach condominium. The home has it’s own private elevator going from the garage to the 3rd floor living area. Oversized 2 car garage to store all of your beach toys and park your full size cars. 2nd level is 2 bedrooms with en-suite baths and laundry area. 3rd level is a gourmet kitchen, living room, and 1/2 bath with a full beach view balcony. Best views ever from the roof top deck. This home comes fully furnished to move right in or rent it out to vacation tenants. For more info go to www.PismoViewCondos.net
Bruce Freeberg 805.748.2477

First time on the market! Gorgeous 2012 single level Contemporary Craftsman home located in one of Arroyo Grande’s most coveted neighborhoods. Impeccably maintained, with the highest attention to detail and finishes throughout this 3066 square foot 4 bedroom, 4 bathroom, 3 car garage home. With the over sized .44 acre lot, this is a perfect home for entertaining. Plus, on a clear day you can see the ocean from the top of the yard! The gourmet kitchen is featured next to the Great Room’s 10′ ceilings, and covered back yard concrete patio. You’ll cook with top of the line ElectroLux Icon appliances, on granite counter tops and Beechwood cabinetry. The Master Bedroom is separate from the other bedrooms providing the ultimate in privacy. This is the perfect home to enjoy the best the Central Coast can offer! Visit www264gracelane.com for additional pictures.
Collette Kutil 805.801.8114

 FOMC Announcement

The FOMC voted to keep rates unchanged yet again but kept alive a possible rate hike later this year. The assessment of the economy remains little changed from the July meeting with economic pace described as moderate and a little less strength emphasized on the labor market. Household spending is once again described as strong and business investment is again described as soft. The inflation assessment is unchanged, as it is described as running below target.  The difference in the meeting this month is the support among members for an immediate rate hike, as two more members joined Kansas City’s member and voted to raise hikes making the vote to keep rates unchanged 3 to 7. The statement put out by the Fed now includes the phrase that economic risks “appear roughly balanced” a phrase the FOMC inserted before raising rates last December. The meeting also includes quarterly projections which hint at an approaching rate hike as 10 of 17 FOMC forecasters see one rate hike coming this year.

Fed Chair Press Conference

Janet Yellen, Fed Chair, stated in her post meeting press conference, that though she is confident in the strength of the labor market citing gains in the participation rate, though she underscored the need for further labor market improvements especially the involvement of the long-term unemployed. She stated that a rate hike now could expose the labor market to an “unnecessary risk.” The current lack of inflation, she stated, is another reason behind not moving rates at the past meeting. “It’s important we get back to 2 percent,” she said referring to the Fed’s inflation target rate. She did state clearly that the November meeting could result in a rate hike depending on incoming economic data.

One of the most desirable senior parks on the Central coast. Be the owner of this brand spanking new Skyline manufactured home in Hacienda Del Pismo. Close to great shopping, convenient freeway access, and a short distance to the famous Pismo Beach and pier. The home is on it’s way and will be onsite soon.
Sal Orlando 805.235.9770

Spectacular white water ocean views from inside this delightful +/- 1,443 SF, 3 bedroom, 2 bath Vintage-Craftsman style home on a double lot. Located on Happy Hill, this property is nicely maintained and unique, with bright interiors and a spacious back yard featuring an ocean view deck, lower covered gazebo, fire pit and space to garden. Updated kitchen offers great storage as well as a charming office nook. Ample storage underneath house is accessible via interior or exterior. Driveway and parking area are hardscaped with pavers, offering onsite parking.
Kelly Vandenheuval 805.471.1046

The mortgage interest rate is determined by supply and demand, perceived risk of similar investments, and the general health of the overall economy.  Bottom line, when the economy is strong and growing and health is evident, money flows into the stock market and rates go up to compete for investors.  When the general economy is weak or uncertain, investors choose the safety of investments like bonds and interest rates go down.

Beautifully remodeled single-level 3 bedroom/2 bath home located in an established neighborhood cul-de-sac, less than two miles from the beach. Open floor plan with a huge gourmet kitchen and dining room, perfect for entertaining! Generous living room with gas fireplace and lots of natural light. Kitchen, bath and laundry rooms are all styled with white-stained, shaker-style cabinets, upgraded granite countertops with designer backsplash and quality fixtures. All new flooring with engineered hardwood throughout common areas. Recessed LED lighting, network recorded surveillance system and network wiring. Even equipped with a tankless water heater and water softener! Wonderful outdoor spaces include fully fenced backyard, separate turfed and gated side yard (perfect for a dog!) and peaceful retreat off the master bedroom. Freshly landscaped and irrigated with smart automatic drip system.
Kim San Jule 805.345.8303

Central Coast Lending allows borrowers to qualify for a mortgage with income represented by just one year of tax returns.

The loan qualification process requires documentation of income to gauge how large of a home loan the borrower can afford. In most cases, the borrower must submit two years of tax returns to determine the maximum loan qualification.

In situations where the borrower’s income spiked in the most recent year, the two-year standard might limit the loan amount that he or she can afford today.

Central Coast Lending co-owner Daniel Podesto offers a convenient shorthand for estimating buying purchasing power.

“Roughly, for every $100,000 you borrow, your mortgage payment will be $500 per month,” said Podesto.
At a 50% debt-to-income ratio – the upper limit – a buyer would need to make $12,000 per year for every $100,000 borrowed assuming no other monthly liabilities.

Consider then: a $6,000 jump in income offers another $50,000 in purchasing power.

The bottom line: moving from an income of $36,000 per year to $42,000 per year allows the borrower to move up from a loan of $300,000 to $350,000.

[Click here to submit an online loan application or contact us to arrange a free consultation]

This situation applies for income that increases resulting from a promotion or raise, but more commonly we see qualification issues pertaining to self-employment, rental property, or farming. Consider these examples:

Situation 1: You are self-employed. Your business survived the recession, but your bottom line shrunk. As the economy has improved, your income has finally made significant, sustainable strides. Only problem: this growth only happened in the past 12 months.

Situation 2: Part of your income is derived from almond trees. After 30 years, your trees went dormant. You spent five years cultivating a new crop, and last year you finally started to see almond sales spring back.

Situation 3: Part of your income comes from a rental property. After a years worth of renovations, you are again able to rent your property out – and for a higher monthly rent.

In each situation above, the potential borrower is able to qualify for a loan based primarily on what they make now (and in the future), rather than two years ago.

Beautifully remodeled single-level 3 bedroom/2 bath home located in an established neighborhood cul-de-sac, less than two miles from the beach. Open floor plan with a huge gourmet kitchen and dining room, perfect for entertaining! Generous living room with gas fireplace and lots of natural light. Kitchen, bath and laundry rooms are all styled with white-stained, shaker-style cabinets, upgraded granite countertops with designer backsplash and quality fixtures. All new flooring with engineered hardwood throughout common areas. Recessed LED lighting, network recorded surveillance system and network wiring. Even equipped with a tankless water heater and water softener! Wonderful outdoor spaces include fully fenced backyard, separate turfed and gated side yard (perfect for a dog!) and peaceful retreat off the master bedroom. Freshly landscaped and irrigated with smart automatic drip system.
Kim San Jule 805.345.8303

The well renowned Garden Green project is only 2 years old and now, for the most discerning buyers, the single level one bedroom unit is available. This one bedroom, luxury, downtown condo boasts European Clean Heart 200 year old wood floors, Anderson windows, mahogany front door, Cassagranda Woodworks cabinets, Miele refrigerator, Thermadore stove and dishwasher and the sale includes all the furnishing and the Sonos surround sound system. This unit is clean and modern and sets a new high water mark for Luxury in the Core of Downtown San Luis Obispo. Other features include private south facing patio, with gas supply line and ceiling lights, Luxury bathroom, with large shower, German faucets, shower ceiling skylight, and upgraded tiling, modern stainless steel integrated floorboards, with floating wallboard effect, ultra high end Blanco SS sink with upgraded touch on battery driven sink faucet and separate built in wine refrigerator.
Wes Burk 805.801.7061