- Eric Foronjy (11/23), Hague Quality Water
- Wes Burk (11/16), Patterson Realty
- Mary McNally (11/9), Peterson Realty
- Keith Jones (11/2), Keller Williams Realty
- Julia Ogden (10/5), Habitat for Humanity
- Stacy Korsgaden (9/28), Farmer’s Insurance
Mortgage Matters is excited to welcome Coastal Community Builders, Inc. president Gary Grossman as featured guest for a new episode this Saturday (October 26). Tune in from 10 a.m. to 12 noon on KVEC 920. You can read the episode preview here.
Coastal Community Builders has built over 1,500 homes on the Central Coast since since it was founded in 1988. See a few of their residential developments here:
They are also in the process of breaking ground on the following projects throughout SLO and Santa Barbara counties: Vistas at Pismo Village, The Village at Pacific West, Heritage at Westgate, Carmel Canyon Estates, Estancia at Las Lomas, SLO Terrace, Legacy at La Ventana, Monte Sereno, and Twin Oaks at West Front Village.
Coastal Community Builders, Inc. is composed of an enthusiastic team of experienced professionals who have a great love of design and superior construction. All initial design ideas are performed “in-house,” from creating floor plans to finalizing exterior color schemes.
Most importantly, Gary and his team design their homes with buyer satisfaction in mind. Consumer preferences are carefully solicited and analyzed to provide the amenities and lifestyle choices most desired. Budgeting concerns are greatly considered to assure affordable home prices, while consistently surpassing expectations of quality craftsmanship and functional beauty.
Nothing tells you as much about the integrity of a builder or the quality of a home as the builder’s willingness to stand behind it. Coastal Community Builders, Inc. is committed to build the best and most affordable home you can purchase and we are honored that you have chosen to become part of our family tradition.
Gary Grossman, president of Coastal Community Builders, Inc. is joining Mortgage Matters radio this Saturday (October 26) to discuss the outlook for local construction activity, the economy, and more. Tune in to KVEC from 10 a.m. to 12 noon. Here is a brief overview of building activity in 2013:
We are excited to have Guy Torelli of Torelli Investment Realty on Mortgage Matters radio this Saturday (October 12) from 10 a.m. to 12 noon.
Torelli Investment Realty is a boutique commercial real estate brokerage firm with over 30 years of focused experience in multi-family and income properties throughout Southern California. Based in Orange County for 30 years, Guy moved his resident and office to Arroyo Grande in mid-2012.
This year on the Central Coast, Guy has closed escrow on a 30-unit mixed-used property in Paso Robles, a 4-plex in San Luis Obispo, and a triplex in Los Osos.
His depth of knowledge coupled with strong relationships with clients and the brokerage community has resulted in Guy closing escrow on over 5,000 apartment units. Besides brokerage, Guy has been an owner and manager of over 200 apartment units in Souther California including Garden Grove, Pomona, Costa Mesa, and Newport Beach.
Guy is experienced in negotiating complex purchase and sale transactions including AITD’s, Lease Options, Land Contracts, Master Lease agreements, Short Sales.
On this episode of Mortgage Matters, Dan is joined by Central Coast Lending loan officer Jason VanDyke.
Dan and Jason start off the show discussing how the government shutdown impacts mortgage rates and the mortgage business as a whole.
It’s a good news/ bad news situation for mortgage business:
- The good news: The uncertainty and fear in the markets caused by the government shutdown means movement of money from the stock market to the bond market, which lends to a low interest rate environment. Mortgage rates are at their lowest levels since June. This, combined with the recent Fed decision not to taper, means a good window for purchase and refinance loans. (Dan talks more about the Fed taper on the September 21 episode of Mortgage Matters)
- The bad news: The government shutdown means potential stalling in the loan application process, due to all the checks and balances involved in the mortgage process.
The benefit Central Coast Lending has being a mortgage broker is the variety of banks we have to to choose from. Our company can steer clear of banks seeing a stall in loan applications due to the government shutdown.
The jobs data released last week was seen as a disappointment. While jobless applications are still down, added jobs were lower than expected and there were downward revisions to both July and August figures. There is, however, good news in the jobs market locally! SLO County jobless rate fell to 6.6%, tying with Sonoma county for the 7th best unemployment rate in the state.
On the second half of Mortgage Matters, Julia Ogden, CEO of San Luis Obispo County’s Habitat for Humanity, returns to the show.
Dan and Jason are thrilled to hear the three homes at Rockview Place in San Luis Obispo are completed, and the families are expected to move in this week. Central Coast Lending helped with this project a few months back.
Julia discusses upcoming projects in San Luis Obispo County. A $1.75 million project in Paso Robles, which will provide homes for 10 families, is expected to break ground in about a year. Another project in Arroyo Grande which will provide homes for 8 families, is still a few years out. You can learn more about the local Habitat for Humanity organization and how you can help out HERE.
Dan and Jason wrap up the show discussing the housing market. Data recently released in a report by the Wall Street Journal shows mortgage volume has been high in recent years, with most of it being refinance-related, and purchase volume remained consistently low. Today, we see mortgage volume declining in a big way since the frenzy of refinance is over, and the purchase market is still down.
Dan was surprised at the following national statistic from the same Wall Street Journal Report: FHA and VA loans account for 43% of all owner occupied purchase loans. Locally, our business sees 90% of our loans as conventional financing. Jason says that this speaks to the “cash is king” mentality- if people can hang onto their money, that’s what they’ll do. He also reminds Dan to keep in mind that national statistics rarely reflect a local trend, especially considering the stark difference between coast and inland real estate markets.
We’re excited to have Julia Ogden of Habitat for Humanity back on Mortgage Matters Radio this Saturday, October 5th! Julia is the CEO of Habitat for Humanity San Luis Obispo County. You can read her full bio HERE.
Show hosts Dan and Jason will be talking with Julia about affordable housing in SLO County, and recent Habitat for Humanity projects and volunteer opportunities.
We’re pleased to support such a wonderful organization- don’t forget to tune into KVEC 920 from 10 am- 12 noon this Saturday!
CCL Loan Officer Will Barnaby fills in for Dan to co-host with Jason this week on Mortgage Matters. Will is a loan officer at Central Coast Lending and works out of the Paso Robles office. He has been in the mortgage business for over 10 years.
The first guest on the show is Glen Covert, a solar consultant at AM Sun Solar. Glen got into the solar business two and a half years ago, and explains the basic benefits of switching to solar:
- Anyone who has an electric bill over $100 can save by switching to solar.
- The technology is extremely reliable and requires little to no maintenance.
- Solar panels last long term, and you’ll see a return on your investment in roughly 5 years.
Jason, who has always been a fan of solar, asks the “elephant in the room” question about getting over the less-than-appealing looks of solar, to which Glen explains the advancements the technology has seen. Many solar options blend in well with the roofing of a house.
Glen and Jason then talk financing options for solar systems, and Jason seems convinced that it’s a technology worth investing in. You can learn more about AM Sun Solar HERE.
Stacey Korsgaden joins Jason and Will for the second half of Mortgage Matters. Stacey is a Farmer’s Insurance agent based out of Arroyo Grande, and has been in the business over 25 years.
Jason talks about how he’s often surprised and alarmed that many of his clients are under-insured. Stacy and Jason discuss the risks and dangers of being uninsured and the importance in reviewing your policy every year.
Stacey explains her emphasis on client relationships and everyone agrees that both quality service and competitive pricing are important when looking for an insurance provider. You can learn more about Stacey and Farmer’s Insurance HERE.
Though the weather is gloomy, Dan and Jason bring news to be happy about on the first day of fall.
Pleased with the Fed’s transparency, Jason uses the analogy of flying a plane to describe the U.S economy: the U.S economy was in a nose dive, and the fed’s stimulus program is helping us straighten back out and build up air speed before we can begin to climb again towards a healthier, more stable and successful economy (one which doesn’t rely on these stimulus programs). So when will that climb (tapering) begin? Dan’s prediction is not for a while. With a 9-1 decision to not taper this month, it could be as late as next year before tapering begins.
Dan and Jason then move on to briefly discuss the debt ceiling and potential government shutdown, joking that the continual “economic crises” is just the governments’ way of providing a surplus of material for Mortgage Matters each week!
Local realtor and appraiser Monica Chudgar joins the show the second half. She talks about the benefits in having both realtor and appraiser experience, and the movement of younger professionals joining the real estate community.
Jason and Monica bond over their local roots in Los Osos, and discuss the recent major sewer project, expected to be completed in 2015 or 2016.
Dan and Jason end the show discussing the recent local unemployment figures and the divide in unemployment. The recent trend in data suggests that lower income brackets see a much higher unemployment rate than those earning six figures.
Insurance expert Stacy A. Korsgaden will join hosts Dan and Jason on Mortgage Matters radio this Saturday (September 28) on KVEC 920 AM.
Stacy founded her agency 24 years ago in Arroyo Grande after graduating from Cal Poly State University with a Bachelor of Science degree in Business Administration.
Her agency, started after college by calling the phone book, has grown into one of the largest Farmers Insurance agencies in the country. With 8 employees, the agency services over 7,500 policies in force. Stacy is committed to making sure her clients are provided accurate coverage and superior service.
Stacy has won the prestigious President’s Council award 6 times. President’s Council Members are recognized as Farmer’s highest honor based on outstanding performance in the areas of production, quality of business, all-lines underwriting gain, overall professionalism, and support and contribution to the success of the state and the company.
The Fed will pay especially close attention to unemployment data in their decision whether to extend quantitative easing (QE). As Dan points out, recent data has been relatively mixed, making it very hard to find clarity within unemployment.
Although there has been a lot of recent changes in the economy recently, Dan and Jason both agree that in the long-run it won’t have much affect on what the Fed does regarding their tapering plans. Dan points out that the markets are set by six-month forecasts, so regardless of what happens in September, the markets as well as the Fed’s tapering plans will be a different story and will have little reflection on what is happening during this month.
Miss a recent episode of the popular San Luis Obispo County radio show Mortgage Matters? Individual episodes are now available for download and offline use on the Central Coast Lending Soundcloud page.