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Mortgage Rates Reach 7 Year High!

The Freddie Mac 30-year mortgage rate increased by 6 basis points to an APR of 4.61%. The APR is now higher than it  was a year ago, at a level that is 59 basis points above where it was at this same time last year when it was at a level of 4.02%. This yearly increase of 59 basis points is substantial and is at the highest point its been at since May 19, 2011. In 2017 we were seeing a wide year on year gap averaging about a negative 55 basis point decrease to APR, however this year the change in rate is positive, as rates continue to rise and the year on year gap continues to wide.
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Attributed to Sam Khater, Freddie Mac chief economist

“Healthy consumer spending and higher commodity prices spooked the bond markets and led to higher mortgage rates over the past week,” he said. “Not only are buyers facing higher borrowing costs, gas prices are currently at four-year highs just as we enter the important peak home sales season.”

Added Khater, “While this year’s higher mortgage rates have not caused much of a ripple in the strong demand levels for buying a home seen in most markets, inflationary pressures and the prospect of rates approaching 5 percent could begin to hit the psyche of some prospective buyers.”

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! 4 Bedroom 3 Bath Home

Desirable Mesa Verde Estates Home. This Spacious Executive Home has 4 Bedrooms and 4 Bathrooms with over 3,100 square feet of living space. Many of the homes outstanding features include, Engineered Oakwood Flooring, Built-in cabinets in Master and Hallway, Kitchen with Granite Counters/Island/Butler’s Pantry, Formal Dining Area, Canned Ceiling Lights, Whole house is wired for internet, cable and Security system with Cameras. Indoor Laundry Room with Cabinets and Sink, Remote Shades at upper windows, Two Car Garage with Telsa Charging 240 Outlet. 75 Gallon Water Heater and Exterior Outlets for Christmas Lights. Featuring one of the largest lots in Mesa Verde the back yard includes Patio Area wired with Surround Sound , beautiful Drought friendly Landscaping, Putting Green, Custom built Storage Sheds and RV Parking with double gate.
Shea Hutchinson 805.260.6322
Lic# 01189054

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

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New Listing! 2 Homes on 10 acres, San Luis Obispo

Tucked away right off of See Canyon Road are two homes nestled under bright sunny treelined spaces with wildlife and tranquility abounding. Located on 10 acres, each home is located a distance away from each other allowing for privacy and individual living. This sun lit part of the canyon is away from the road noise and allows for peaceful days/ evenings with opportunities to see the wild quail, native birds and feel the breezes filtering thru the Maple, Sycamore and Pine trees. The upper home is the Ranch house that’s approx, 1,750 sq ft with 3 bedrooms and 2 bathrooms. The large living room and dinning room space has large south facing windows and allows filtered light in thru the trees, with views of the meadow below and the mature trees surrounding canyon. A small artists studio in the back can be additional storage or creative space. The cabin below is naturally lit with sunlight because of clear story and southern facing windows off of the large entry deck. This vaulted ceiling, open concept studio space has all the amenities anyone would need living in aprox. 600sqft. With the additional storage off of the carport makes for the perfect place to call home or rent out for top dollar. In the back, another small artists studio is available to you.
Traci Ferguson 805.235.6396
Lic# 01875751

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

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New Listing! 3 Bedroom 2 Baths on 5 Acres

A must-see, West Atascadero adobe home with incredible sweeping views on nearly 5 oak-studded acres! Old-world quality craftsmanship meets new-world technology – this captivating 3bed/2bath 2500 sf home is completely remodeled and move-in ready – vaulted ceilings throughout, a gourmet kitchen, spa-like bathrooms, 2 huge living spaces and more. Light splashes through gigantic picture windows and phenomenal views abound from nearly every room! Arguably one of the most intriguing homes on the market, this architectural gem’s hillside location is peaceful and private yet just 5 minutes to town or the 101. Call today and see this beauty for yourself – it won’t last long!
Kim San Jule 805.345.8303
Lic# 01948144

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

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Refinancing Share of Mortgage Applications Reach Lowest Level Since 2008

Despite the recent dip in mortgage rates potential home buyers seem to be having reservations. Total mortgage application fell 0.4% in the week. Purchase applications dipped 0.2 percent, while refinances fell one percent from last week to a level that hasn’t been seen since October 2008. The refinance share of mortgage activity is down to its lowest level since September 2008 at 36.3% of total applications.

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! Custom Built 4 Bedroom Home

Custom built 4 Bedroom, 3 full Bath home. Wonderful open floor plan with living room, family room, dining area and huge kitchen. Spacious rooms. Skylights make this home light and bright throughout; all single level living. Living room has bay window. Family room has wood burning fireplace, bay window, and French door out to the beautiul backyard with newly installed sod, and separate patio and BBQ areas. The spacious kitchen has newer Bosch dishwasher, Samsung Range, tile counters, decorative backsplash. Indoor laundry has upper cabinets for extra storage. Huge Master Suite with walk in closet, elegant bath with huge garden tub. Glass door out to backyard and patio. There is an upstairs loft that provides extra sleeping areas, has built in cabinetry, so many possibilities, beautifully done bonus room! Beautiful backyard, wrought iron gated dog run, and wrought iron gated side area with shed. All this with a spacious 3 car garage!
Kim Bankston 805.674.2298
Lic# 01051016

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

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New Listing! Prestigious 3 Bedroom Home on The Bluffs, Shell Beach

 
This commanding & distinctive piece of contemporary architecture is located in the prestigious gated enclave of The Bluffs of Shell Beach – Relaxed yet refined. Breathtaking ocean views from almost all rooms. On the entry level is the media room with stadium loggia seating, and is equipped with an IPad controlled, 4G projector. Stepping toward the expansive living areas the panoramic ocean views are awe inspiring. The chef’s kitchen has abundant storage, equipment and finishes. Guests will enjoy watching “the action” from seating at the bar-counter. There is a casual dining as well as semi-formal dining on this level. The living area offers a variety of zones for lounging and conversation. Italian marble cut granite in match book design adorns the bar area. Downstairs is a masterpiece for the wine lover and entertainer. Extensive wine display and wine storage set the stage for what’s to come. An expansive formal dining area ideal for large events. The library adjacent enjoys a fireplace perfect for after dinner conversation. This level is ideal for guest with 2 possible bedrooms and a full bathroom. Upstairs are 2 bedrooms and the master suite – 5 Star. The panoramic views of ocean activity and sunsets are indisputable. The master bath is designed with clean lines “floating” custom cabinetry, heated towel rack, a handsome oversized shower and free standing tub-all with stunning form and function. This is a must see to believe property!
LeeAnne Fisher 805.440.0251 or George Fisher 805.801.0821
Lic# 01082922 / Lic# 01894989

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

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New Listing! Stately Cape Cod 4 Bedroom Home

Own your piece of Santa Maria history! This stately Cape Cod home is located in the historic Carriage District. Elegant and spacious, this 1941 home boasts many unique period details. New exterior paint in progress! Hardwood flooring throughout most of the home! Welcoming formal living room with large fireplace opens to dining room with vintage built-in hutch. Generous kitchen with stainless steel appliances leads to large family room with fireplace and built-in grill. Basement-turned-wine cellar for local wine enthusiasts! Four spacious bedrooms upstairs plus two full baths. Enjoy the backyard patio and large yard on this nearly 10,000sf lot! This fantastic downtown location is close to major shopping and dining and is walking distance to the local elementary school.
Gina Gluyas 805.7208
Lic# 01732656

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

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New Listing! Spacious 4 Bedroom 2 Bath Home

Marcia, Marcia, Marcia!!! This awesome Brady Bunch era home is ready for a new buyer and imagination. With great bones and oversized rooms, it offers a great opportunity for buyers who want to be steps away from the Santa Maria Country Club, Waller Park and also be located in the Orcutt school district. Offering four bedrooms, two and one half bathrooms and a large back yard, you just need to paint and carpet this home to customize it to your personal preferences. The downstairs game room is a special treat for those wishing to entertain and have easy access to the backyard for outside activities.
Wendy Teixera 805.310.3505
Lic# 01345995

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