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New Listing! 3 Bedroom 2 Bath in Santa Maria


Beautiful home in the heart of Santa Maria’s Historic Carriage District! A timeless classic, yet renovated for modern use. Charming details include hardwood floors, knotty pine ceilings, beveled glass, crown molding and much more. Modern plumbing and electrical systems allow you to rest easy. A spacious home with three bedrooms plus office/library/ 4th bedroom option, three fireplaces, modern kitchen and indoor laundry. Lush landscaping and private backyard are ideal for entertaining or relaxation. Simply stunning! **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

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CCL Market Update

International Trade in Goods

Third quarter GDP is off to a slow start, at least for international trade in goods where the July trade gap widened by more than $1 billion to $65.1 billion. Exports fell 1.3 percent and were pulled down by the sharp fall in vehicles and also consumer goods, both of which were weak categories for the US. Helping to ease the effect of exports was a 0.3 percent decline in imports. In imports foreign vehicles, which are usually in strong demand, fell 2.8 percent while industrial supplies were down 1.7 percent.

S & P Case-Shiller HPI

Home Price Appreciation was flat in the month of June based on last week’s FHFA house price index and now the Case-Shiller 20-city index which only increased by 0.1 percent. The unadjusted index, reflected increased housing activity during the summer when it rose 0.7 percent with a year on year rate of 5.7 percent  which remains unchanged from May but is down 2 tenths from earlier in the year. Despite softening, home prices remain as the center of strength in a low interest rate and low inflation. Lower prices won’t be adding to household wealth but they will give a boost to home sales and will offer first timers a greater chance at buying a home.

Consumer Confidence

August was a solid month for the Conference Board’s consumer confidence sample as the index is moved higher once again, to 122.9 from a revised 120.0 in July. August’s result is the best since March’s 124.9 and is the second highest since December 2000. The assessment of the present situation improved noticeably in the month to 151.2 from 145.4 and expectations pressed further ahead, up 1.0 point to a level of 104.0. The current employment assessment is also positive; jobs hard to get fell a sizable 1.4 percentage points to 17.3 percent saying jobs are plentiful up an equally impressive 2.2 points to a very strong 35.4 percent. On the expectations side, the most positive news comes from income expectations with optimists rising 9 tenths to 20.9 percent, which is very strong, while pessimists fell 1.7 percentage points to t 7.8 percent. The spread in this reading is at 13.1 points, which is unusually wide and points to confidence in job prospects and also investment returns.

 Mortgage Applications

Low mortgage rates are failing to entice home buyers, whose activity declined for the third straight week. Purchase applications for home mortgage fell a seasonally adjusted 3.0 percent in the week of August 25th following 2 percent declines in the prior two weeks. Unadjusted, the purchase index decreased 5 percent from the week prior, taking it to a level  only 4 percent higher than in the same week last year; this is well off the 8 plus percent gains seen in previous weeks this year. Applications for refinancing fell 2 percent from the prior week, the refinance share of mortgage activity rose by 1.2 percentage points to 46.4 percent. These three weeks of falling purchase applications is worrisome development for the housing market, which may be accelerating its retreat from expansion highs, especially following the evidence of July weakness submitted in the housing data report published last week, showing declines in sales for both new and existing homes.

GDP

The second quarter proved to be very solid, revised 4 tenths higher in the second estimate to a 3.0 percent annualized rate. And strength is centered where is must be as consumer spending is now at a 3.3 percent rate for a 5 tenths upward revision. Non-residential investment was also a positive at a 6.9 percent rate following the prior quarter’s 7.2 percent showing. Residential investment, however, was a drag on the second quarter, at a negative 6.5 percent rate that followed a positive 11.1 percent rate in the first quarter. Government purchase were negative for a second straight quarter, at minus 0.3 percent following a minus 0.6 percent in the first quarter showing. Both second quarter exports and inventories were slightly positive. Prices were very weak in the quarter at a 1.0 percent rate overall and 1.1 percent for the core. Inflation aside, the second quarter marked a solid though not exceptional reversal of the first quarter’s 1.2 percent pace and points to constructive momentum going into the third quarter.

Job-Cut Report

Layoff announcements remained subdued, but did increase in August to 33,825 from 28,307 in July; this is the highest total since April. Construction, where demand for labor is strong, actually had the highest layoff total in August followed by retail where layoffs have been heavy this year. These results unlike indications in other reports are not pointing to increasing strength for the August employment report.

Jobless Claims

Jobless claims remain at historic lows with initial claims at 236,000 in the week of August 26th. The four week average was at 236,750, this is the fifth consecutive week of declines.  Continuing claims are posting similar results, down 12,000 to 1.942 million in the lagging data for the week of August 19th, the four week average for this factor is down slightly to 1.952 million. The unemployment rate for insured workers remains unchanged at the very low percentage of 1.4 percent.

Personal Income and Outlays

Personal income and outlays were mixed in the report for July. Income is the highlight, up 0.4 percent in the month including a second straight 0.5 percent gain for wages and salaries in an important emerging sign of wage traction. Consumer spending rose 0.3 percent in the month, 1 tenth below economists’ predictions. Spending on services gained only 0.2 percent to offset the strength in durable goods was up 0.6 percent and non-durables, up 0.5 percent. The spending gain represents a moderate start for the major component of third quarter GDP. Inflation readings remain a major trouble spot, as they were up only 0.1 percent both overall and for the core reading. Year on year rates are up 1.4 percent for again the overall and core. Employment is very strong and may finally be reflected in strength in wages, but these gains have yet5 to boost inflation readings.


Pending Home Sales

For the fourth time in five months the pending home sales index fell, down 0.8 percent in July, signaling weakness for existing home sales which has also fallen in three of the last four reports. Housing began the year with strength before declining in strength during the spring selling season and summer months.

Employment Situation

August payroll, growth was solid but missed expectations while wage data was disappointing. Nonfarm payrolls rose 156,000 in the month vs. economists’ predictions of 180,000. Revisions are negative with July revised 20,000 lower to a level of 189,000 and June was down 21,000 to 210,000. The unemployment rate reflects the so0ftness rising 1 tenth to 4.4 percent. Average hourly earnings barely rose at all up only 0.1 percent on a monthly basis and 2.5 percent on a yearly basis. These percentages are both one tenth below expectations. A major positive in the report is ja 36,000 surge in manufacturing payrolls including a 10,000 upward revision to July to a 26,000 increase and a 9,000 upgrade to June to a gain of 21,000. Construction payroll, also showing solid gains, was up 28,000 following a 3,000 decline in July. An offset to manufacturing and construction gains is the weakness in retail which, after 6 straight months of declining added only 1,000 jobs.  Government payroll growth is below expectations falling 9,000 for the third decline in four months. Excluding government payrolls In August, private payrolls in August came in at 165,000, 9,000 above the headline total but still short of expectations by 15,000. Weekly hours are also soft, down 1 tenth to 34.4 with manufacturing, in contrast to the hiring, is down 2 tenths to 40.7 hours which points to a second straight monthly disappointment for the manufacturing sector of the industrial production report.

Construction Spending

Construction spending declined 0.6 percent in July. Driven by single family homes, residential construction rose a solid 0.8 percent in the month for a yearly gain of 11.6 percent, a drastic contrast from the 1.8 percent overall rate. Home improvements were also very strong up 1.4 percent in the month. Spending on multifamily construction continues to moderate gains as it was down 0.8 percent in the month and only a 2.6 percent yearly gain. The weakness in the report comes from the nonresidential side, especially commercial buildings, where private spending fell 1.9 percent for a yearly decline of 3.6 percent. Public building is soft with the educational category down 4.4 percent in July.

Consumer Sentiment

At a final 96.8 for August, consumer sentiment fell back sharply vs. the month’s preliminary reading of 97.6. The final result implies around a level of 96 in the last two weeks of the month, which however, still exceeds the readings of July ad June at 93 and 95 respectively. The report attributes the strength to optimism over income prospe4cts.  Details in the report include special strength for expectations at 87.7 vs. July’s 80.5, which offset a step back in current conditions at 110.9 vs 113.4 in July. Inflation expectations remain soft and unchanged at 2.6 percent for the 1 year outlook and down 1 tenth to 2.5 percent for the five year outlook.

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 2 Bath Home is SLO

This beautifully landscaped four bedroom, three bath home is located in the Sinsheimer area of San Luis Obispo. The backyard features mature and lush vegetation, a terraced hillside, and decking that’s perfect for entertaining. The master bedroom has a large bathroom with soaking tub and tiled shower. Plus there is a French door that leads to a private sitting deck. The home is 1898 square feet and sits on a flag lot with side Easement.
Collette Kutil 805.801.8114

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

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New Listing! Santa Margarita Land

A project’s project. .Sold “as is” Lots of cleanup required. This was one family’s home for over 100 years. It burnt to the ground. Value in Land only. This can be cleaned up and two homes built on this parcel ( always check with county for verification). Listing agent must accompany. 24 notice hours required.

Brian Wolf 805.441.9612

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New Listing! Stunning 4 Bedroom Home

Stunning home, completely remodeled, Enter this beautiful home and enjoy the views. Relax in the Living room or enjoy the expansive kitchen and great room, which overlooks the back deck and open space. You can go for a hike right out the back gate! The kitchen features Thermador appliances, huge L shaped granite island with sitting. Updated features include Cherry hardwood flooring, new windows, French doors, every bathroom updated with Carrera Marble and Quartzite stacked stone, steam shower. Over 2,900 square feet with 4 bedrooms and 4 bathrooms. There is also a finished basement, not included in the square footage. Solar panels, for a very low PGE bill! Collection tank for spring water-no cost watering for your landscaping! RV/boat parking. 600 sq. ft. of storage space downstairs. Close to downtown San Luis Obispo. Move in and enjoy!
Kristi Donati 805.459.3099

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New Listing! Well Maintained Investment Home


Two Well Maintained Investment or Vacation homes on Large R-2 Lot. Three-bedroom 1 1/2-bath 1250 sq. ft. on 3rd Street home and a two-bedroom plus den and one-bath 1000 sq. ft. home on Newport Ave. positioned on a large 7,500 sq. ft. corner R-2 lot. These residences are just six blocks to the Grand & Dolliver entrance to drive-on access to the beach and the Dunes, and are walking distance to the Ribline, Station Grill and other popular venues. Both homes are original beach cottage architecture. One of the homes has a two-car garage. Each residence has its own address, 305 Newport Avenue and 436 North Third Street, Grover Beach. These are two nicely situated homes, each having their own street frontage. The homes complement each other, while maintaining their own unique presence. Two separate homes with yards priced comparable to similar sized apartments. Both homes are popular, minimal vacancy rental properties, that rent for $1,800 each (both due for rent increases). The owner/property manager has kept these two rental homes well maintained. Clean termite inspection on both homes. Square footage and year built are seller’s approximation.
Rob Feder 805.305.1007

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

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New Listing! Charming 3 Bedroom Atascadero Home

Charming three bedroom home on over a half acre lot in Atascadero. This lovely home has a beautiful west side location with mature landscaping and room to breathe. Inside features the warmth and charm of a brick fireplace with wood burning insert and beautiful Brazilian Cherry flooring in the living room, opening to a remodeled kitchen and dining area. The kitchen is fresh and light with loads of storage, silestone counters and all of the kitchen appliances are included. The indoor laundry room offers storage as well and a striking door opening to the backyard and private patio. Three bedrooms and two full baths complete this user friendly floor plan. The master bedroom has a large walk-in shower and double sinks. A sizable walk-in closet offers enough room for the clothing connoisseur. Dual pane windows, roof, plumbing and electrical all updated in 2006.The full two car garage and extra parking in the driveway make storing the toys easy. Outside is beautiful with a landscaped front yard, large concrete fenced patio in the back and a natural hillside behind the home offering large oaks. Enjoy the deer or room for the kids and pups to play. This is a must see. Call your agent today to view this home before someone else calls it home!
Kim Croft 805.689.2654

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New Listing! Monterey County Vineyard


This Monterey County Vineyard of approximately 55+-Acres rests on 139 acres of rolling hills in a private area off the beaten path. Cabernet Sauvignon, Zinfandel and Merlot grapes on root. Recent upgrades to the vineyard include a third well producing 150 GPM as well as grafting and trellis improvements, newer well pump and meter. There is a mobile storage unit on the property and a residential 3 bedroom 1 bath mobile unit. Currently grapes are contracted.
Marty Diffley 805.440.2078

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New Listing! Seasoned Vineyard

This seasoned vineyard rests on 98+ acres with views of distant mountains and Lake San Antonio. California AVA is San Antonio. Great well production with a newer electric well pump. Grape varietals are Cabernet Sauvignon, Syrah, and Cabernet Franc. Recent vineyard establishment improvements include 17A of the Cabernet Sauvignon now in 4th leaf. Grapes are in demand among local wineries. Building Site offers a view of the lake.
Marty Diffley 805.440.2078

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

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Mortgage Rates Continue to Drop, Reaching a New 2017!

The Freddie Mac mortgage rate decreased in APR for the fourth consecutive decline dropping down to an APR of 3.86%, decreasing by 3 basis points, for a new year to date low; and the lowest rate since November 10, 2016, back when the presidential election took place. APR still remains higher than it was a year ago when it was at a level of 3.43%, but the gap between APR rates from this year to last year are closing in, as the APR this year is about 43 basis points higher than this time last year.

Attributed to Sean Becketti, chief economist, Freddie Mac.

“The 10-year Treasury yield fell 6 basis points this week amid concerns over lagging inflation. The 30-year mortgage rate also declined for the fourth consecutive week, dropping 3 basis points to a new year-to-date low of 3.86 percent.”

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