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New Listing! Trillium on Grand

Phase 3 now selling! Brand new home in a brand new community! This is on of 36 homes in Trillium on the Grand in quaint Arroyo Grande. Stop by and see the 2 model homes. This community has 4 floor plans to choose from, 1700 to nearly 2000 square feet. Designer-selected standard finishes, including granite slab counters in the kitchen, wood cabinets, and elegant smooth textured finished walls. Well appointed owners suites with large closets and dual sink vanities. 9′ ceilings in second floors and oversized low-e vinyl windows that make these homes light and bright throughout. Handset paver entry walkway. Common community outdoor space is a wonderful gathering place for family, friends, and neighbors. Fenced yard. Handset paver entry walkway. Attached 2 car garage. You will appreciate the convenient location not far from freeway access, minutes from the beach, downtown, and from San Luis Obispo and South County cities. Photo is a rendering which may not be exact to actual property.
Kim Bankston 805.674.2298 Lic#01051016 or Collette Kutil 805.801.8114 Lic#01880851

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

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Housing Update

Mortgage Applications

Despite mortgage interest rates being the highest in ten months, homebuyers led the 4.5 percent increase in mortgage application activity in the week of January 19th. Purchase applications for home mortgages rose on a seasonally adjusted basis by 6.0 percent from the week prior. This increase left the year on year gain in the unadjusted Purchase Index unchanged from the previous week’s 7 percent. Applications for refinancing, which is usually more sensitive to interest rates, rose one percent from the previous week. The refinancing share of mortgage activity was down 0.8 percentage points to 49.4 percent.

FHFA House Price Index

Home prices rose a solid 0.4 percent in November with the year on year at 6.5 percent for the FHFA’s house price index. October’s monthly rate is revised 1 tenth higher to 0.6 percent with the yearly rate revised two tenths higher to 6.8 percent. This index has held near the 7 percent rate through much of last year.

Existing Home Sales

Lack of supply continues to be an issue in the housing market as it pulled down existing home sales in December and may possibly pull down sales in January as well. Existing homes sales fell 3.6 percent in December to an annualized rate of 5.570 million which is at the low end of what economists predicted after seeing a solid 5.6 percent jump in sales to a 5.810 million annualized rate. November did however get revised by a small amount to a 5.780 million rate, it remains still the best month of the expansion. Supply in December’s market fell a very steep 11.4 percent in the month to only 1.480 million homes. On a sales basis, supply fell from 3.5 months in November to 3.2 months which is a 19-year record low. Prices softened slightly, the median slipped 0.2 percent in the month to $246,800 for a year on year increase of 5.8 percent. This year on year price rate is well above the 1.1 percent gain in overall sales pointing to perhaps future price concessions and even less supply. On a yearly basis supply is down a sizable 10.3 percent. Sales for condos show weakness as they were down 11.6 percent on the months to a 610,000 annualized rate. Single family sales fell a monthly 2.6 percent to 4.960 million. The lack of supply will be a serious obstacle moving forward and is very likely to effect existing home sales.

New Home Sales

Despite the headline 9.3 percent decline in new homes sales for December, the report is actually a solid new home sales report. December’s 625,000 annualized rate is the fourth best of the expansion following November’s revised 689,000 rate which is the best. Most importantly supply has finally moved into the market, up 3.9 percent at 295,000 units. On a sales basis, supply improved to 5.7 months from November’s 4.9 months. Prices were steady in the month, the median edged up 0.1 percent to $335,400 for a modest year on year improvement of only 2.6 percent. Given the sales supply is up 15.2 percent and sales rate up 14.1 percent prices may have room to grow. This report shows upward sales momentum, incoming supply and room for prices to move higher. Residential investment has been dragging GDP down in recent quarters, this report points to this sector finally adding a solid contribution in the GDP report.

 

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 2 Bath Oceanview Condo

Ocean views and a rooftop deck, this beautiful condo is clean, clean, clean and perfect for the coastal lifestyle. The 3 bedrooms, 3 1/2baths, 1534 square feet is just blocks to the beach. Completed in late 2016, this is a small complex of just four homes. The spacious master suite with sweeping ocean views is on the upper floor with the roof deck plus one guest bedroom and a full bath. Bright and cheery, the main floor has open plan living, kitchen and dining with plenty of windows for natural light plus one bedroom, laundry and full bath. Take full advantage of outdoor living from the neighborly front porch, the kitchen deck ready for your grill, the sweet fenced back yard and patio plus the oh-so-private rooftop deck. Flooring is stylish and easy care, colors are coastal chic. Ground floor is a mudroom for flip flops with the 2-car garage roomy enough for toys and beach cruisers plus drive space parking for friends.
Nancy Heins 805.458.3583 Lic#01757840

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

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New Listing! 3 Bedroom 3 Bath in Carriage District

Carriage district!! ! Step back in time when seeing this 2,331 square-foot cottage built to 1936 on a 13,000+ square feet lot. This beautiful home offers all the timeless features such as original hardwood flooring and lathe and plaster walls. But you’ll be surprised to find that all three bedrooms have their own personal bathrooms. The large family and living room provide ample room for entertaining and feature a pretty fireplace as the focal point. A separate laundry room storage area and two car garage are situated next to the cute and cozy kitchen. French doors lead to the brick patio that is sheltered in the backyard and makes a great place to prepare Santa Maria style BBQs in the built in pit. This home has so much character and has been lovingly maintained. Hurry!
Wendy Teixeira 805.305.3505 Lic##01345995

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New Listing! 4 Bedroom Orcutt Home

Orcutt! This four bedroom, three bath with over 2300 sq ft of living, home offers the downstairs bedroom and bath room everyone asks for! The front living room ceiling soars 20 feet high with huge picture windows allowing sunlight to naturally lighten the home. Enjoy a formal dining/den area off the kitchen that could be suitable for an office, extra den or ? The kitchen is open to the huge family room complete with stone fireplace and wet bar. French doors lead to the private, east facing back yard. Upstairs there are three more bedrooms, one bath and a master suite large enough for an army. With a walk in closet the size of a normal bedroom, and a remodeled bathroom complete with glass block, gorgeous tile, separate tub and shower as well as dual sinks… All this with a three car garage, too! Close to Joe Nightingale elementary school, Waller Park, shopping and the Santa Maria Country Club.
Wendy Teixeira 805.310.3505 Lic#01345995

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New Listing! Located in San Luis Country Club


List the things that make a home most desirable, and you will find a great many of them in this one lovely property. Located in the gated San Luis Obispo Country Club on a quiet cul-de-sac, it is beautifully upgraded, meticulously maintained, with formal living room plus family room, kitchen with breakfast bar, formal dining room, three bedrooms and office – all in one beautiful home. It is comfortable, peaceful, gracious and not to be missed!
Beverly James 805.748.8613 Lic# 01856768

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

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New Listing! Rustic 3 Bedroom 2 Bath

Rustic home on 9.5 acres. Owner/builder wanted a solid Cabin style home in the country. He achieved his vision. Floors are faded red Adobe tiles. Lots of aged wood throughout. Multiple skylights brighten the Home and shine on the large indoor plants, that might stay. It feels like your walking into a hundred year old Ranch House. Land has a few different levels for the Shop, Rental unit, and pasture. The incomplete addition could be another bedroom or artists studio. Well appears solid. Might come with about 10 cords of firewood and a tractor depending on offer. Brian Wolf 805.441.9612

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

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Freddie Mac 30 Year Historic APR Average

Above is the 30 year fixed Freddie Mac conventional program’s APR historic average data for the past 30 years dating back to 1987. In the late 1980’s, when the graph begins its recording, rates were at a 30 year high with all APR’s above the 10.00% mark, which is more than double where rates have been at in most recent years. In the early 1990’s rates began dropping for a four year on year decline from years 1989 to 1992. For the most part, APR averages on a yearly basis have been steadily declining in the past 30 years since 1987, with some years being an exception to this trend, but when looked at from a distance it appears rates are moving downward on a yearly averaged basis. 2017 was an exception to this trend as rates increased by more than 30 basis points: from the 30 year low of 3.65% APR in 2016. Since 2010 it appears that rates have been fluctuating at only a minimal pace.

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-

This 2 bedroom, 2 1/2 bath is located at the end of a cup-de-sac and backs up to open space and gorgeous Edna Valley hill side views. Just built in 2011, this large, open floor plan boasts many custom upgrades such as motorized window coverings, designer alder cabinets in kitchen, laundry, bath and study, tankless water heater, solid core doors, and even has air condition for those rare occasions in San Luis Obispo where it is needed. See the photos which feature amazing sunrise views, the cozy family room fireplace and even 2 additional parking spaces in front of the 2 1/2 car, oversized garage. With HOA fees at only $160/month, this low maintenance, luxury living opportunity is truly a rare opportunity. Wes Burk 805.801.7061

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

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New Listing- Stately Home in Lake Marie

Lake Marie! This stately five bedroom home offers executive style living with the amenities you’re looking for. With over 4474 sq ft of elegance, the inviting entry features a glimpse into the formal and living rooms featuring gorgeous walnut flooring. The architectural elements are too many to list, but.. enjoy beautiful hand crafted beamed ceilings, a pizza oven created with beautiful stone, an oversized island with a pop up flat screen TV, a six burner, double oven stove, pantry, and prep sink – and this is just the kitchen! This home provides a split floor plan with an office, bathroom and master suite on the south side, the living areas in the center, and the secondary bedrooms and bathrooms on the north side. Enjoy a massive master en suite complete with sitting area, French doors and handsome fireplace. Walk into your fabulous bathroom and enjoy an oversize walk in shower, dual sinks and garden tub as well as a room walk in closet. The family room allows another opportunity to entertain and enjoy the backyard view. With an inground pool, roomy covered, brick porches, extensive landscaping areas, and many areas to enjoy conversation, you won’t get chilly enjoying the backyard while sitting under the infrared heaters. Finishing off this massive home, is a man cave complete with a meticulous security system in place so any treasure deserving ultimate Wendy Teixeira 805.310.3505

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