No Comments

New Listing! Santa Maria Office Building

Prime Location Santa Maria Office Building. This single story property is approximately 1,753 Square feet on a 9,148 Sq. ft. Lot. Property was extensively remodeled in 2014, which included exterior stucco, paint and trim, hardwood flooring in hallways and reception area, custom woodworking by master carpenter that includes framed windows and sills, wood beam work throughout & built-in work stations. Milgaurd windows throughout, interior and exterior custom doors, custom high end lighting and fixtures and ceiling fans, both bathrooms remodeled with new fixtures, sinks and toilets. Saltillo tile at front walkway and side patio with marble stone patio set and water feature. Plus many other upgrades! Parking available in front and rear. ***Information deemed reliable but not verified or guaranteed by broker.***
Shea Hutchinson 805.260.6322

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

No Comments

New Listing! Morro Bay Beauty


This beautifully appointed home is situated in prestigious Morro Cove located just above the Embarcadero, bay, and marina on a street to street lot close to downtown. Enjoy spectacular sunsets and views of the bay and Morro Rock from the balcony of the spacious master suite with large bathroom and jetted tub. This stunning home features three bedrooms, two and a half baths, and a bonus room that could be used as a fourth bedroom or office plus a living room and family room each with their own gas fireplace. Gourmet chef’s kitchen with granite counter tops and top of the line appliances. Entertain family and friends from your private courtyard, that is easily accessed from the kitchen and family room, with pavers and native/drought tolerant landscaping. Central vacuum, security system, water softening system, and the highest quality fixtures and flooring through out.
Kelly Vandenheuvel 805.471.1046

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

No Comments

CCL Market Update

Mortgage Applications

Purchase applications for home mortgages fell 1 percent on a seasonally adjusted basis during the week of June 16th. The unadjusted purchase index is 9 percent above the level it was during the same week one year ago. The refinancing share of mortgage applications rose 1.2 percent to 46.6 percent of all home mortgage applications being for refinances; it increased 2 percent from the previous week to the highest level since November, when the presidential election took place and rates substantially increased. The weekly seasonally adjusted decline in purchase applications, which follows last week’s decline from the week of June 2nd when the purchase index reached the highest level it’s been since November 2009. The current 9 percent year on year gain indicates that prospective home buyers have been exceptionally active in June.

Existing Home Sales

In previous months housing has been sliding, but May’s existing housing report shows a very solid 1.1 percent rebound to a higher than expected annualized rate of 5.620 million. Today’s report includes gains for single family homes, up 1.0 percent to a 4.980 million rate and also condos are up 1.6 percent6 to a rate of 640,000. The median price rose 3.2 percent to $252,800.On a yearly basis the median is up 5.8 percent showing seller strength relative to a 2.7 percent gain for on-year sales. Another positive in the report is supply which is strengthened by the increase in prices, increased to 1.960 million vs. 1.920 in April and 1.8010 million in March. Relative to sales, supply is at 4.2 months compared to 4.1 and 3.8 in the two prior months. The housing sector opened the year strong then fizzled ou6t during the spring selling season. This report shows limited weakness in the housing sector and should confirm expectations of a bounce back in housing

Jobless Claims

Jobless claims are little changed in the latest report and remain consistent with demand for labor. Initial claims came in at 241,000 for the week of June 17th; this is right in line with economists’ predictions of 240,000. The week of June 17th also happens to be the sample week for the upcoming June employment report, compared to the sample week of the May employment report, there is a slight increase of only 8,000. The four week average is up very slightly to a level of 244,750 that is only marginally above the four week average mid-May which was at a level of 241,000. Continuing claims data lags by a week and are again little changed at 1.944 million for an increase of only 8,000. The continuing claims four week average is up 5,000 to 1.932 million. The unemployment rate for insur4ed workers, excluding job leavers and re entrants is unchanged and remains at a very low level of 1.4 percent. The readings throughout this report are at historic lows as employers hold on to their employees.

FHFA House Price Index

Though sales may be uneven, home prices are on the rise. The FHFA’s house price index jumped 0.7 percent in April with March revised 1 tenth higher and is now also at a lev el of 0.7 percent. The yearly rate is up 4 tenths to 6.8 percent which is the best showing in 3 years! Though the housing sector may have fumbled in the spring selling season, home prices are one of the high points of the nation’s economic data and are a major positive for household wealth.

New Home Sales

After a disappointing spring season for the housing sector, housing is back on track, following the strength in the existing home sales market report. New home sales rose a very solid 2.9 percent to an annualized rate of 610,000, near economists’ top estimate. The report also includes a shar4p 24,000 upward revision to April to a level that now stands sat6 593,000. This report, similar to the existing home sales report, shows great strength in the selling prices with the median surging11.5 percent in the month to $345,800. The year on year increase is 16.8 percent which is nearly double the 8.9 percent gain in actual sales. This price traction is related no only to demand but also to supply of new homes which remains very tight. New homes however did move into the market during the month, up 1.5 percent to 268,000 units, but sales relative to supply remain unchanged at only 5.3 months.

Written by Central Coast Lending - Go to Central Coast Lending's Website/Profile
805.543.LOAN info@centralcoastlending.com
No Comments

New Listing! Foxenwood One Story on Corner Lot!


Foxenwoods One Story on corner lot! This three bedroom, 2 1/2 bath home has been beautifully remodeled & updated! Featuring granite tile, stainless steel appliances, lots of recessed lighting, scraped & cathedral ceilings,tile flooring & everything you’d desire in a home! The flowing & open floorplan works well for the active lifestyle! Large bedrooms & baths & even a separate guest bath. The backyard offers privacy & protection from our afternoon breezes making it great for that Santa Maria Style BBQ! The three car garage allows plenty of room for all your toys & the side yard has plenty of room for your RV, toys & even a shop!
Wendy Teixeira 805.310.3505

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

No Comments

FOMC Raises Rates

FOMC Meeting Announcement

As expected, the FOMC did raise its rate target up 25 basis points to a level ranging between 1.00 to 1.25 percent. The Fed said the labor market has continued to strengthen and business spending has continued to expand. It also said that house hold spending has picked up in recent months, referring to a 0.4 percent rise in April consumer spending; there was no mention of the 0.3 percent decline in retail sales. The official FOMC outlook for inflation was described as “has declined recently” and it will be “monitoring closely.”  The median for this year’s funds target remains at 1.4 percent, meaning only one more rate hike will take place this year, and next year’s median holding at three rate hikes. PCE inflat5ion has been downgraded to 1.6 percent this year, 3 tenths below the March forecast but remains unchanged for the next two years at 2.0 percent.  The core PCE is seen at 1.7 percent this year, down 2 tenths from March, then is predicted to hold at 2.0 percent in both 2018 and 2019. GDP forecasts increased 1 tenth to a median of 2.2 percent this year with no changes to 2018-2019, at 2.1 and 1.9 respectively.  The unemployment rate forecasts decreased by 2 tenths this year to 4.3 percent and is down 3 tenths for the next two years to a level of 4.2 percent; another indication of expected growing labor strength. The FOMC expects to begin unwinding its $4.5 trillion balance sheet this year, provided that the economy continues to expand as expected.

Fed Chair Press Conference

Janet Yellen in her in her quarterly press conference cautioned that the downgrade for inflation between the May FOMC meeting and the June FOMC meeting, may reflect noise in the economic data. On the upside for inflation, Yellen pointed out the decline in the unemployment rate, saying that the majority remains at work and that overall inflation will respond to changes in unemployment but not at a very quick pace. Yellen state a wide variety of data is pointing to labor market tightness, including household and business assessments of the jobs market; she also stated she believes wages are likely to move up. She said “removing a bit of accommodation” right now is prudent and will lower the risk that the FOMC, who suddenly is faced with an upturn in inflation, may need to raise the funds rate quickly in the future and thereby risk a recession.  As mentioned in the FOMC meeting announcement, it plans on unwinding the Federal Reserve’s $4.5 trillion balance sheet though no time frames were given. If the economy improves as the FOMC expects it to, Yellen said the unwinding could begin “relatively soon” and last perhaps a few years. She did not give a dollar level amount that the balance sheet would be brought down to, saying that will depend on bank demands for reserves.

Written by Central Coast Lending - Go to Central Coast Lending's Website/Profile
805.543.LOAN info@centralcoastlending.com
No Comments

New Listing! Paso Robles Beauty


West side Paso Robles Beauty. This home has many upgrades you will enjoy. Maple kitchen cabinetry, granite slab counters in kitchen with sink and hardware also chosen with care. Ceiling fans in Kitchen and family room. Master shower is a delight and the solid surface flooring will please many buyers. Built by a local contractor who resided for a time, this home has been occupied by only one other family. Wood burning fireplace in the living room Back yard privacy with covered patio, pavers and yet room for flowers and other hobbies. Back yard is fenced. The two car garage has bench and shelving with a separated room for storage or your imagination. New roof 2017, hidden stereo closet, If being close to downtown is your desire, this may be it.
Marty Diffley 805.440.2078

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

No Comments

New Listing! Move-In Ready


Move in ready 3 Bedroom 2 Bathroom single story home in Nice Northeast Santa Maria Neighborhood. This home with approximately 1,602 sq. ft. of living space has an open floor plan with a permitted sun room. Kitchen features Corian counter tops, updated cabinets and basin sink. Large Master Bedroom with new Granite counter top in Master Bath. Newer comp shingle roof and exterior paint. New Dual pane windows throughout. Back yard with patio, fruit tree, dog run and included hot tub. Green belt right across the street. Close to Santa Maria Valley Multipurpose and River trail and easy 101 Freeway access **Information deemed reliable but not verified or guaranteed by broker**
Shea Hutchinson 805.260.6322

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

No Comments

Rates Reach Yet Another Low of 2017!!

Now is the time to refinance before rates increase again!!

Refinancing with Central Coast Lending allows borrowers flexibility with their mortgage!

  • We can decrease the term of the loan to save thousands off future interest payments.
  • Help lower the interest rate, reducing monthly payments.
  • Remove mortgage insurance on loan.*
  • With rising equity, now is a great time to consider cash out refinance, for those long delayed home improvements, college tuition payments, etc.

It’s possible to accomplish all this while keeping the payment the same!

Written by Central Coast Lending - Go to Central Coast Lending's Website/Profile
805.543.LOAN info@centralcoastlending.com
No Comments

New Listing! Templeton Home on 30 Acres


Beautiful nearly 30 acre property in a great location of rolling hills, oak trees and vineyards in the distance. Home sits on top of the hill. Incredible views of Atascadero, Templeton and Paso Robles. The sunsets are unbelievable. This family home has a big open living room with rock faced wood burning fireplace, breakfast bar, u-shaped big kitchen and large separate dining area. Covered patio off the living room leads to a grassy back yard. Enjoy the sunsets from the Master bedroom deck. Master bedroom suite has double vanity sinks and dressing area. Lower grassy area is great for cattle or perhaps horses. Orchard off to the side with table grapes, almond trees and pistachio. Enjoy the quiet of living in the country, but not far out of town. Templeton school district. Separate (as is) mobile home has it’s own propane and electric. Makes for a great family & friend compound for gathering and visiting nearby vineyards & wine tasting.
JoAnne Bruner 805.540.8225

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

No Comments

Mortgage Rates Hit New 2017 Lows

The Freddie Mac mortgage rate decreased this week for the third consecutive week to the lowest level of 2017! It decreased by just 1 basis point to an APR of 3.94%. APR still remains higher than the APR a year ago when it was at a level of 3.66% APR.

Attributed to Sean Becketti, chief economist, Freddie Mac.

“In a short week following Memorial Day, the 10-year Treasury yield fell 4 basis points. The 30-year mortgage rate remained relatively flat, falling 1 basis point to 3.94 percent and once again hitting a new 2017 low.”

Written by Central Coast Lending - Go to Central Coast Lending's Website/Profile
805.543.LOAN info@centralcoastlending.com