Posted by 101livescan on 6/27/13 9:12am
Msg #474866

2013 Economic Insights by Goldman Sachs

There are three videos in this URL link. Worth watching, I think you'll agree.

http://www.goldmansachs.com/our-thinking/focus-on/outlook/hatzius-2013/index.html?cid=PS_01_20_06_00_00_00_01_a

I slept in this morning til 6am, usually I'm up at 5am. Following this evening signing, I savored a wonderful Italian dinner at a new SY restaurant and came home, immediately dropped. The owners are right native Italians with lots of energy, lots of staff in the kitchen and on the serving side, enthusiastic, customers streaming in until 10pm. Very popular new eatery. Awesome faire.

The people I signed last evening refinanced their SY home and purchased a retirement home in Santa Barbara, before prices go sky high again, they said. This was two transactions, the other one happening tomorrow at 3pm to close the purchase.

A year ago, properties in Santa Ynez were under water and investors began moving in buying up "vacation rentals" where people who come to the central coast for wine tasting rent these homes out. The owners stay in them occasionally. It is a hot market. Things are picking up in SY for sure.

In my own area, there is very little new inventory. But prices on homes are rising everywhere, the old supply and demand theory rings true. Supposedly we're going to be seeing new jobs around here.

The people whose loan I signed are nearing retirement, busier than ever, and plan to work as long as they can while things are picking up. They are in the vineyard management business, and there is a shortage of grapes...can you believe that? Wow...I gotta get busy and grow more, I'd hate to run out of wine around here!

Reply by anotaryinva on 6/27/13 9:24am
Msg #474867

You gotta stop rubbing it in n/m

Reply by Bear900/CA on 6/27/13 1:56pm
Msg #474882

It's a weird situation. The supply and demand on-fire pricing is outstripping 1st time homebuyer and move-up buyer affordability. Cash offers are now facing even less competition with rates going up putting payments out of reach and new buyers looking for lesser priced homes which just don't exist.

No real end in sight and wondering where that is taking us. We're turning into a society of investors and renters.

Supply is also being affected by a shortage of skilled tradesmen who left the business and became truck drivers, etc. News recently mentioned that a lot of new starts were being held up for lack of skilled tradespeople. Maybe some employment opportunity there?

Contractors I know are busier then they were a couple of years ago. We need more supply that's for sure.

Is that the Toscana SY Kitchen, owners from Brentwood, you ate at? It's getting great reviews for the food, not so much for immediate surroundings. But downtown SY is meant to keep away the city-slickers and all the move-ins with money like it that way. That's why we live in the area, and the wine. :-) I recently poured some Turley old vine Zin and Justin Isosceles cab for friends from NYC and they couldn't believe how good it was. We're spoiled!

Reply by 101livescan on 6/27/13 8:39pm
Msg #474935

That's it, Ben. DEEEEELICIOUS! I liked the ambiance. Pinot was outstanding, asparagus pureed soup with olive oil, no dairy. Avocado salad with arugala, tomatoes, cukes, goat cheese and kalamati olives...yummy. To die for. Mostly locals hang out here in western gear and pretty casual wear. But elegant none the less.

Had four purchase loans today...refi of existing home to buy retirement home in AZ! Two deals.