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New Listing! Beautiful Flat & Usable Parcel

Beautiful flat and usable parcel, 30 minutes to Santa Margarita. 5 minutes to the Pozo Saloon. The Home on the property is given no value. The barns and outbuildings are many and varied. Parcel would make a great refuge from the “work a day world.” Peaceful and Quiet. Possibilities for a weekend retreat, Horse Ranch with arenas..or even a boutique Vineyard. Two wells, one well is functional. The windmill works and pumps water. Buyer to satisfy themselves how well. Out of area Seller has not lived on the property in many years. This little Valley has a really nice feel to it.
Brian Wolf 805.441.9612

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

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FOMC Raises Fed Funds Rate by 25 Basis Points at Latest Meeting

FOMC Meeting

As expected, the FOMC lifted its federal funds target by 25 basis points to a range of 1.25 to 1.50 percent in a majority vote of 7 to 2. The committee expects the labor market to “remain strong” and the economy to continue to rise. Growth in household spending is once again described as being “moderate” and most still expect inflation to move higher before stabilizing at around 2 percent. Members of the FOMC continue to describe policy as accommodative and repeat that near-term risks are balanced. The two members who voted against the hike underscore the skepticism that high level of employment will eventually lead to a wage push inflation. There was no upward movement in the quarterly funds forecasts for next year with an outlook of three more 25 basis point moves expected until the rate is at 2.1 percent.  Six of the members see funds below this rate by the end of next year while four see it above the rate. The outlook for 2019 also calls for three similar rate hikes and now, call for two hikes in 2020, up from only one previously predicted.  GDP forecasts are up with 2018 now predicted to have a median of 2.5 percent up from the 2.1 percent previously predicted. The long run median holds at a modest 1.8 percent. Unemployment was forecasted to fall 3.9 percent next year from the prior call of a 4.1 percent decline.

Fed Chair Press Conference: Janet Yellen

The modest rate of wage growth is evidence that the labor market, despite its low 4.1 percent unemployment rate, is not overheating by any means.  Janet Yellen, Fed Chair, cited that given the softness in wages and the low path of inflation, that it could take a “longer period of a very strong labor market” before inflation finally gains traction. Though the 4.1 percent unemployment rate is ½ below the Fed’s long-term projections, she did not describe the economy as being at full employment, but rather only in the vicinity of full employment. She stated that unemployment will have to come down even more before full employment is reached. She noted repeatedly that one factor behind the lack of wage gains and lack of inflation is the workforce’s low rat of productivity growth. Expectations for tax cuts have helped the stock market post “significant” increases and in effect has translated to higher GDP and lower unemployment forecasts in the FOMC’s quarterly projections. She stated members of the committee are welcome the possibility of tax cuts which they see boosting both consumer and capital spending. A possible risk developing she cited was the flattening underway in the yield curve as short-term rates rise, in line with the Fed rate hikes, while the longer-term rates hold steady]. She said there was much discussion regarding the slope of the yield curve and that comparatively low long rates reflect a low term premium for future inflation risk. She warned the curve now may more easily invert as the Fed withdraws accommodation; an inverted curve is when short term rates exceed long term rate

Written by Central Coast Lending - Go to Central Coast Lending's Website/Profile
805.543.LOAN info@centralcoastlending.com
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CA Legal Update: New Assessment Fees for California Real Estate Recordings

Overview

As of January 1, 2018, a required $75 assessment fee will be paid at the time of recording in addition to standard recording fees. The new law imposes a fee of $75 to be paid at the time of the recording of every real estate instrument, paper, or notice required or permitted by law to be recorded, per each single transaction per single parcel of real property; not to exceed $225. This new legislation passed in September establishes permanent, ongoing sources of funding dedicated to affordable housing development. The new law requires that the county recorder sends revenues from this fee quarterly, after the deduction of any actual and necessary administrative costs incurred by the county recorder, to the Controller for deposit in the newly formed “Building Homes and Jobs Fund.” This would make legislative findings and declarations relating to the need to establish permanent, on going, source of funding dedicated to affordable housing development.

Exceptions

The fee will NOT be imposed on any real estate instrument, paper or notice recorded in connection with a transfer subject to documentary transfer tax or in connection with a transfer of real property intended to be occupied by the owner. A transfer NOT subject to transfer tax wherein the transferee/ buyer will occupy the property as their residence is also not subject to the $75 assessment.

The Assessment will apply to the Recording of Documents Regarding Real Property, such as, but not limited to:

  • Deed
  • Trustee’s Deed
  • Grant Deed
  • Deed of Trust
  • Quit Claim Deed Fictitious Deed of Trust
  • Assignment of Deed of Trust
  • Request for Notice Of Default
  • Subordination Agreement
  • Easement
  • Release or Discharge
  • Mechanic’s Lien
  • Notice of Default
  • Notice of Completion
  • Maps
  • CC&Rs
  • Etc.
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! Great Price for 3 Bdrm 2 Ba in Orcutt

Orcutt listing

3 beds 2 baths. This upstairs end unit has a south-east facing balcony perfect for hanging out, barbecuing etc. it is sheltered from our Santa Maria winds! Being an end unit there is an additional window which keeps this home bright and sunny. The Kitchen includes refrigerator, dishwasher, stove, microwave and garbage disposal Upgrades in the house include newer carpet (1 year old approx.), the fan over the breakfast area, a new goose neck faucet in the kitchen sink, stacked washer and dryer (just over 1 year old). and new facets and shower heads in both bathrooms. The two covered parking spaces in the carport are conveniently located.
Bernie Davidson 805.878.6897

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

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New Listing! Beautiful 4 Bedroom One Story

Beautiful 4 bedroom, one story home with a three car garage in Orcutt! This lovely home offers a nicely sized kitchen with breakfast bar, breakfast area & formal dining room & nicely sized family room. Off of the dining area is a great ”bonus” room, perfect for a large home office, game room or ? The master suite is situated in the back for privacy & features dual sinks, lots of closet space & a cathedral ceiling with access to the back yard. The 3 guest rooms share a large hall bath complete with dual sinks & a separate tub/shower area. Enjoy an indoor laundry room, too. A large, beautifully landscaped backyard has a generous sized brick lined patio for those Santa Maria BBQ’s and still allows plenty of room for those outdoor games the California weather allows us to enjoy year round.
Wendy Teixeira 805.305.3505

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

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New Listing! 2,300 sqft. Home in Santa Maria

This one story home offers over 2300 sq ft of beautiful living space. There are two nicely sized bedrooms & a large office situated on the north side of the home. The owner’s suite will check off all your boxes: fireplace, walk in closet, dual sinks, garden tub and walk in shower – all in calm, neutral colors. The family room has a lovely fireplace & is the focal point also enjoying lots of natural light & is open to the kitchen and dining areas. The gourmet kitchen features a working island, built in desk & pantry. You’ll also find another bedroom, indoor laundry and finished two car garage. But be sure to take a peek outside, the little pond, patio areas and lush landscaping are sure to please!
Wendy Teixeira 805.305.3505

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

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New Listing! Fantastic 4 Bedroom 3 Bath Home

Welcome to 570 Raymond! This one of a kind home offers unique features! Beginning with amazing Mexican Driftwood rock, 10 ft windows, solid ”old fashioned” lath & plaster walls, gorgeous antique wood stoves, slate flooring, & more all on a private acre. This 5 bed/4 bath home even offers fun entertaining options including a large area with a Santa Maria style BBQ, kitchenette, guest room & bath & large area for a pool table, jukebox or ? Just off the kitchen is a bright sunroom with wet bar, indoor spa & pretty cedar paneling with pass through windows to the kitchen. Enjoy 2 Jenn Air ovens, a built in grill, & roomy island in the kitchen along with rare, solid ”wormy chestnut” cabinets. The garage can fit a 30′ RV has 1/2 bath & 800 sq ft upstairs office, too! Too many amenities to list!!
Wendy Teixeira 805.310.3505

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

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New Listing! Knightbridge Gated Community

Knightbridge – Gated community – just off South Miller. This cute and spotless three bedroom, two bath home has gorgeous colors and amenities, from the remodeled kitchen complete with beautiful cabinetry, pretty flooring and lots of counter space. The kitchen and dining areas are open to the family room — with natural light everywhere. The family room offers wood beamed, cathedral ceilings and an awesome fireplace. This cottage has a cute backyard, covered patio and fresh landscaping! All of this and an indoor laundry, too! Hurry – this one is priced to sell.! All you need to do is unpack!
Wendy Teixeira 805.310.3505

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

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New Listing! Turnkey Country Living

Turn-key country living! Welcome to 4225 Farousse Way, a single level recently renovated 3 bedroom/2 bath home on two acres of usable land. This turn-key home has amenities sure to impress such as: NEW stainless steel appliances, NEW granite countertops, NEW fixtures & faucets, NEW interior & exterior paint, NEW laminate flooring, NEW vinyl windows, NEW composite decking, NEW roof and much more! A fenced paddock allows for immediate placement of horses, 4H or FFA project. Recently drilled well has an impressive 800′ depth.Open canvas acreage with small orchard is ready for your landscaping ideas. Call to view this wine country charmer today.
April Fehrer 805.610.0345

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