2017 USDA Income Limits Update

The income limits for the USDA Single Family Housing Guaranteed Loan Program were recently updated and increased for new mortgages originated in 2017.  The maximum eligible income for this loan program is defined as the greater of 115% of the US median family income or 115% of the average of the state-wide and state non-metro […]

By |May 24th, 2017|Loan Program News|0 Comments

New Guidelines for SFR’s with Manufactured Homes

Central Coast Lending has expanded their underwriting guidelines for properties with a stick-built single family residence (SFR) AND a manufactured home on the same parcel; the once impossible scenario to finance now has three loan options!

First Option: Stick-built SFR and PERMANENTLY affixed manufactured home on the same property.

Appraiser must support it is common to […]

By |May 24th, 2017|Loan Program News|0 Comments

CCL Market Update: Housing Market Index, Housing Start, Mortgage Applications, Jobless Claims

Housing Market Index

New home sales have been leading the home market with home builders reporting strong activity this month and predict even better times ahead. The housing market index topped economists’ predictions In May, rising 2 points to a level of 70. Current sales are also up 2 points to 76 with 6 month sales […]

By |May 22nd, 2017|CCL Market Updates|0 Comments

2017 First Quarter: South County

1st Quarter
South County

Buellton
Nipomo
Santa Maria
Solvang

The South County not only represents the region of the Central Coast with the highest median home price at $884,975, but also has the region with the lowest amount of total sales. This suggests there is a correlation between price and number of sales; in this instance the […]

By |May 18th, 2017|SLO County Real Estate|0 Comments

2017 First Quarter: North County

1st Quarter 2017
North County

Atascadero
Paso Robles
Santa Margarita
Tempelton

The North County is the city with the most amount of home sales with 283 combined sales. It also has the lowest median home price, though the median home price did increase by 38% from the first quarter to 2016 to the first three months of […]

By |May 18th, 2017|SLO County Real Estate|0 Comments

2017 First Quarter: Scenic Coast

1st Quarter
Scenic Coast

Cambria
Cayucos
Los Osos
Morro Bay

The Scenic Coast has the lowest amount of cumulative days a home sits on the market, meaning the market is hot on the Scenic Coast and homes are selling faster than any of the cities on the Central Coast.

90 Total Number of Sales (2017) vs. 102 […]

By |May 17th, 2017|SLO County Real Estate|0 Comments

2017 First Quarter: Five Cities

1st Quarter 2017
Five Cities

Arroyo Grande
Avila Beach
Grover Beach
Oceano
Pismo Beach

The Five Cities area of the Central Coast has the highest price per square foot out of any of the other regions, at a price of $725.31 per square foot. It also is the area with the highest sales to list price with […]

By |May 17th, 2017|SLO County Real Estate|0 Comments

2017 First Quarter: San Luis Obispo City

1st Quarter 2017
San Luis Obispo City Real Estate Report

80 Total Number of Sales (2017) vs.58 (2016)
$650,500 Median Home Price (2017) vs. $549,000 (2016)
98% Sales vs. List Price (2017) vs. 98.54% (2016)
$420.94 Price per Square Foot (2017) vs. $341.42
59 Cumulative Days on Market (2017) vs. 68 (2016)

All or the  statistics followed […]

By |May 17th, 2017|SLO County Real Estate|0 Comments

2017 First Quarter: Central Coast

1st Quarter 2017
Central Coast Real Estate Report

667 Total Number of Sales (2017) vs. 686 (2016)
$663,100 Median Home Price (2017) vs. $603,108 (2016)
97% Sales Price vs. List Price (2017) vs. 98.55% (2016)
$462.00 Price per Square Foot (2017) vs. $365.51 (2016)
103 Cumulative Days on Market (2017) vs. 99 (2016)

The results of the […]

By |May 17th, 2017|SLO County Real Estate|0 Comments

CCL Market Update: Labor Market Conditions, JOLTS, Mortgage Applications, Jobless Claims, Consumer Price Index, Consumer Sentiment

Labor Market Conditions Index

More upward revisions are the surprise for the labor market conditions index where prior readings this year have already been revised 2 points higher. The first reading for April is 3.5 with March upgraded to 3.6 from an original reading of just 0.4 and February and January show similar revisions to 3.2 […]

By |May 15th, 2017|CCL Market Updates|0 Comments