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New Listing! 3 Bedroom in Oak Park Villas AG


This delightful, single-story 3 bedroom, 3 bath home is located in the highly sought after Oak Park Villas neighborhood in northeast Arroyo Grande. The home features an updated kitchen, hardwood floors in the common areas, updated bathrooms, and a beautifully landscaped yard with views of the hills. Both the living room and spacious master bedroom boast vaulted ceilings and gas fireplaces. The master bedroom opens to a lovely deck, perfect to relax with a good book in the beautiful, oasis-like back yard. The guest suite offers visitors their own private bath. The location provides easy access to shopping, services, restaurants, the highway, and local beaches.
Diane Moroski 805.550.2543 & Sandy Lee 805.550.6052

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

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Consumer Spending

Gallup US Consumer Spending Measure

Americans’ daily self-reported spending averaged $109 in July, the sixth consecutive month where the average was $100 or more. July’s report of $109 is the highest spending average since May 2008. The $6 increase from June is not statistically significant. It is, however, the highest for the month of July for this index. Spending among both higher and lower earning Americans was slightly up in July and is among the highest of the recent upward trend. Higher earners’ spending has consistently been more than double that of lower earners. Adults in households whose annual income is $90,000 or more reported spending an average of $178 throughout July. At the same time, spending with households less than $90,000 annually, averaged $80. This is a strong start for the second half of 2017, but given Augusts’ history spending is likely to remain flat or lower, Americans’ relatively high spending average in July Is not likely to hold.

Consumer Price Index

Consumer prices remains very soft, failing to match economists’ expectations’ for July. Total prices edged one tenth higher in July as did the core which does not include food and energy, both of these factors are no better than what economists’ predicted as their low estimates.  Yearly rates are also at the low estimates at 1.7 percent for both. Moderation in housing costs remains a major disinflationary force, inching only 0.1 percent higher for a yearly 2.8 percent which is down 2 tenths from June. Wireless services continue to move lower falling 0.3 percent on the month for a yearly decline of 13.3 percent. Vehicle sales have been weak this ye4ar and is being reflected in prices which fell 0.5 percent in the month. Lodging away from home is another major negative in the July report, falling from a record 4.2 percent as motels and hotels cut prices. On the plus side, apparel prices which have been on a long negative streak recently, rose 0.3 percent, however the yearly rate remains in the negatives at minus 0.4 percent. Medical care rose 0.4 percent for the second straight month, yearly rates, however, edged lower to 2.6 percent. Energy prices at minus 0.1 percent were a negative in the report, but were offset by a 0.2 percent rise in food. Lack of inflation remains the central trouble in the Federal Reserve’s policy efforts. Today’s report and results will not be improving expectations for the beginning of balance sheet unwinding at the September FOMC.

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! 3 Bedroom Rice Ranch Home


Trilogy at Rice Ranch. This beautiful 3 bedroom, 2 bath + Den open floor plan home features wood floors in living, kitchen and dining areas. Spacious open kitchen with granite counters and stainless steel appliances. Fire place and surround sound system in living room. Recessed lighting throughout. Large master bedroom with slider to covered patio. Custom paver patio area with gas and electric connections. Back yard also features, fruit trees, synthetic grass area, river rock and raised planting beds with custom pergola. The Rice Ranch neighborhood features a 26-acre award winning park and sports complex featuring championship soccer fields, baseball fields, dog parks, play grounds, and picnic areas. The community also offers extensive walking, hiking and biking trails. Solar City System.
Shea Hutchinson 805.260.6322

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

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New Listing! Beautiful Building Parcel in Atascadero


Beautiful building parcel in West Atascadero with a water meter, located in Long Valley Ranch. This property is in the vicinity of beautiful homes! There are large oak trees, seasonal creek, and amazing views. There is a paid water meter, worth $22,000. Water meter, phone, natural gas are available near the street in front. There was a permit pulled for a Will Bateman (architect) house in 2007, the master bedroom is on the same location as the great room, and kitchen. Seller will give you those plans, or build your own plans. Owner will carry with 50% down!
Kathryn Birkhahn 805.610.6650

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2017 2nd Quarter Central Coast Real Estate Report

The San Luis Obispo County’s Real Estate update includes data for all cities that make up the San Luis Obispo County of California. This data is for the second quarter, January through June, of 2017.

  • 1,500 Total Home Sales (2017) vs. 1,372 (2016)
  • $639,059 Median Home Price (2017) vs. $550,000 (2016)
  • 98% Sales per List Price (2017) vs. 98.13% (2016)
  • $474.96 Average Price per Square Foot (2017) vs. $350.00 (2016)
  • 75 Cumulative Days on the Market (2017) vs. 90(2016)

Of all the five reported components of the real estate report for San Luis Obispo County four of the five factors improvement from 2nd quarter of 2016 to 201. The only component tracked to worsen from the first two quarters of 2016 to 2017 was the sales vs. list price which decreased a small percentage of 0.13% from 2016.

The total number of sales at 1,500 total homes sold in the first two quarters of 2017 is the highest number of total overall sales at 1,500 total homes sold, more than doubling the first quarter’s count of 667 total homes sold and exceeding last year’s second quarter data by a little under 150 total homes sold.

The median home price increased from $550,000 in 2016 to $639,059 in 2017. Though there is a year on year increase the median home price of the San Luis Obispo County decreased from the first quarter from a median of $663,100 down to $639,059.

The sales vs. list price increased by 1% from the first quarter of 2017 to the second quarter of 2017from a level of 97% to 98%, however yearly basis from the second quarter of 2016 to 2017, the

sales vs. list price dropped 0.13%, which is fairly insignificant.

The price per a square foot increased as well from both the first quarter and this time last year in 2016.  From the first quarter of 2017 to the second quarter, price per square foot increased slightly from $462.00 to $474.96. The yearly comparison shows a more significant change increasing from more than $100 from $350.00 in 2016’s first two quarters to $474.96 in 2017 second quarter.

The cumulative days a home for sale sits on the market decreased by 28 days from the first three months of 2017 to the first six months of 2017. However, the cumulative days on market increased from the second quarter of 2016 to 2017 from a level of 71 cumulative days up four days to a cumulative of 75 cumulative days on market.

Avila Beach leads the way with the highest median home price of $1,020,000 increasing in median price from both the first quarter and this time last year.

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! 2.5 Acre Horse Property


2.5 +- acre horse property for sale! It feels like the country but just a few minutes to town! The main house is 2200 sq ft split into two units. One 2 bedroom unit and another 1 bedroom with huge family room, kitchen/bar and fireplace, with attached garage and private patio and yards. Permanent pasture, huge hay barn, 4 box stalls, tack room, horse walker, roping arena with cattle pens, and cozy studio apartment in barn. New roof and new pump in well as well as rehabbed septic tanks and leach line. These properties seldom come on the market! Hurry!
Wendy Teixeira 805.310.3505

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New Listing! 3 Bedroom 1 Bath Home in SLO


This one is adorable! From the front yard to the back fence this house has so much appeal. Fresh and clean, it is ready for you to move right in. Gleaming hardwood laminate flooring sets the stage for the living area. Lovely newer cabinets and appliances will make cooking fun. The large backyard is great for gardening or a kids play space and the built-in shed provides storage for all the tools or toys. Pleasant, peaceful paint colors welcome you to each room. Notice the updated, vinyl dual pane, energy efficient windows. Those on the front side of the house are framed by beautiful wood plantation shutters. The master bedroom, accented by wainscoting and chair rail trim, has a slider to the back yard where a hot tub awaits your relaxing visit. The adjoining bath has a tile shower and pedestal sink. A bonus office space has been created in the single car garage where you will also find the laundry area with a stackable washer/dryer and tankless water heater! Better act fast as this one will sell very quickly!
Kay Cementina 805.748.1438

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New Listing! Providence Landing 4 Bdrm 2 Ba


Room to roam in this large Providence Landing home! Fantastic cul-de-sac location with walkway to the recreational fields and facilities. Large backyard with flagstone patio. Versatile interior plan downstairs with formal and casual space, plus a bedroom and bath. Large kitchen with solid granite counters and stainless appliances, ample storage and a butler’s closet with walk-in pantry. Kitchen opens to family room with fireplace. Upstairs are three en-suite bedrooms plus a loft and an additional space that could be converted to another bedroom or other use. Large master bedroom; master bath has separate soaking tub and large shower. Generous sized master walk-in closet. So much space and options abound in this fantastic home! Providence Landing is conveniently located near Vandenberg Air Force Base and offers oodles of walking trails, recreational fields, tennis, pool and clubhouse. Adjacent to the Burton Mesa Preserve, the area is surrounded by roaming open space. A perfect commute distance to Santa Barbara and even closer to the Orcutt/ Santa Maria area. Welcome to your new home!
Gina Gluyas 805.310.7208

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New Listing! 4 Bedroom 2 Bath Orcutt Home


Beautifully remodeled & stunning describes this four bedroom, two bath home. With over 2,000 sq ft of luxurious living, you’ll be amazed with all this home has! Real hardwood flooring throughout, granite counters, new s/s stove & newer appliances, breakfast area & formal dining room & an awesome laundry area off the THREE car garage! The large family room has a beautiful fireplace & french doors to the patio. Large, light & bright! The master suite offers a walk in closet, high ceilings, built in cabinets, a French door to the brick patio & a gorgeous bathroom! Three more nicely sized bedrooms & a remodeled, full guest bath are just perfect! You’ll enjoy the majestic oak tree in the backyard, brick patios & east facing yards for those BBQs. All you have to do is unpack!
Wendy Teixeira 805.310.3505

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Central Coast Lending: Market Update

Labor Market Conditions

Nonfarm payroll growth of 222,000 was strong in the June employment report butnot6  average hourly earnings which only 0.2 percent higher, part of the mix that makes for only a moderate 1.5 in the labor market conditions index.

JOLTS

In a mixed report employers are finally catching up with their hirings as job openings, at 5.666 million in May fell back 5.0 percent and hiring, at 5.472 million, shot up 8.3 percent. The hiring total is a new record for the series while job openings are second lowest of the year. Other movement in this report is a 1 tenth rise in the quits rate to 2.2 percent which hints perhaps at worker confidence and willingness to switch jobs which may be a positive for wage traction.

Mortgage Applications

Purchase applications for home mortgages fell a seasonally adjusted 3 percent In the week of July 7th. Applications for refinancing fell 13 percent from the previous week to the lowest level since January 2017. The refinance share of mortgage activity fell 2.8 percentage points to 42.1 percent. The decline in applications was registered despite adjustments for the Fourth of July holiday. On an unadjusted basis, purchase applications were down a much sharper 22 percent from the previous week. The weekly decline shaved the year on year purchase index gain by 3 percentage points to 3 percent.

Beige book

Wages are on the rise but with only a modest to moderate rise. Economic growth is described as light to moderate across the Federal Reserve’s 12 districts. Consumer spending is rising in most districts but at a slower pace. This edition of the beige book, especially with descriptions of inflation and introduction to the word slight for the downside description of growth, is perhaps the weakest beige book of the year. There are, however, some indications of strength wit hthe3 report nothing that qualified workers are in short supply and the labor market is continuing to tighten for both skilled and  unskilled labor and especially in the construction and high tech sectors.  Looking at the report on net, it appears to still remain at modest to moderate in most region and economic readings. These results will not pull forward expectations for the next rate hike.

Jobless Claims

Initial jobless claims held little changed at 247,000 in the week of July 8th, with the prior week revised only slightly higher at a gain of 2,000 to a level of 250.000. The four week average4 is up 2,250 to 245,750 which is lightly above the moth-ago trend in what in not a favorable indication for the July employment report. Continuing claims, where data lag by a week, fell 20,000 to 1.945 million with this four wee3k average at 1.949 million, also slightly up. The unemployment rate for insured workers is unchanged at a very low 1.4 percent.

Janet Yellen Speaks

Janet Yellen conceded that wage pressures are weak but warned it’s premature to conclude that inflation trends are falling back below 2 percent. The Fed’s chair also mentions, like she did in her first day of testimony, she declined to say how low the Fed’s balance sheet will be reduced to, saying only that she expects the Fed’s reserves currently at $4.5 trillion, to be reduced substantially. She also repeated that it’s the FOMC’s goal to hold only Treasuries on the Fed’s balance sheet.

Consumer Price index

In what is one of the very weakest 4-month stretch in 60 years of records, core consumer prices could manag3e only a 0.1 percent increase in June. This represents the third straight 0.1 percent showing for the core, which excludes food and energy, that was preceded by the very rare 0.1 percent decline March. Total prices were unchanged in the month with food neutral and energy down 1.6 percent. Housing, which is a central category, continues to moderate, also coming in at 0.1 percent following a 0.2 percent gain in May.  Apparel is down for a fourth month in a row with transportation, reflecting falling vehicle prices, down for a second month. Medical care, which had been moderating, picked up with a 0.4 percent gain while prescription drugs which   Janet Yellen has been citing for specials weakness, bounced back with a 1.0 percent gain. However, wireless telephone service, another area cited by Yellen for weakness, posted yet another sizable decline of 0.89 percent in June.  Year on year the core is steady at 1.7 percent with total prices, down 3 tenths to 1.6 percent.

Consumer Sentiment

Economic expectations are falling while current conditions remain high, a combination that the consumer sentiment report warns points to economic slowing ahead. The consumer sentiment index fell a sharp 2 points in the preliminary results for July to a much lower than predicted level of 93.1. The expectations component is down nearly 4 points to 80.2 for the lowest reading since before the election, in October of last year. Republican expectations have been falling sharply from their steep highs, down to 108.9 for a more than 7 point decline from June. Democrat expectation is actually improving slightly, but remains very low at 63.2. Current conditions rose slightly in the month to 113.2 which is a positive indication for this months’ consumer activity. But it’s future activity that may be in trouble. Inflation expectations edged higher in the month but remain very low at 2.7 percent for the one year outlook and 2.6 percent for the five year.

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