Santa Barbara, CA

Mark Schneipp, Director of the California Economic Forecast, and located in Santa Barbara California, recently sent his email newsletter for our review and consideration. The discussion was around the quesiton of how one might plan for the next 12 months. Does he have a crystal ball?

No, but many of us who were reading this missive felt that he not only has good news to share, but news that we by and large agree with.

If you are a potential home buyer: Buy now! Don't wait! We know that the inventory in the low end is defintely smaller than it has been all year and the prices are at an all time low. In my market, the low end is under $900,000 and well-priced properties are involved in multiple offer situations. Additionally, interest rates are at the lowest they have been for many years and the time to take advantage of them is when they are low, i.e., NOW You can't time that market!

The front page of the Los Angeles Times, October 21, stated:

The slowdown in foreclosures observed over the last 6 months is reducing the inventory of REO homes, enabling selling values to reflect more conventional home buying rather than distressed home sales. Values are rising. This will help voth real estate developers and real estate flippers. Wannabe home buyers should not wait a second more to buy their home.

We all know that Real estate is LOCAL and I am happy to share that our median price in Santa Barbara is now back up to a healthy $950,000 for the month of October, after falling to around $740,000 in months previous. Our low end is in recovery, and is the fastest selling segment of our market. Our upper end has had some good sales progress as well. (That's a subject for another blog!)

The stats I review tell me that the South coast Santa Barbara market is improving and most likely hit bottom in March of 2009. Our sales board tells me that our market is improving. My manager posted the % of improvement, dollar-volume wise, for our 140 agents from 2008 to 2009 incomes, and over half are having a better year than in 2008 and some by over 100%. We have had to work harder and smarter to earn our commissions and those of us who are still around, are that much wiser and seasoned to help the customers who ask for our help.

Kathleen Barnato - Realtor since 1988 - Santa Barbara California resident since 1974!

Prudential CA Realty www.kathleenbarnato.com 805-570-3366

Where is the real estate market today with regards to foreclosures here in Santa Barbara CA?

The answer to this really depends on the specific areas of Santa Barbara you are talking about as well as specific price points. Santa Barbara is simply too unique of a town to pinpoint a "foreclosure label" at any level, on any certain part of our real estate market. You really have to look at the individual markets and areas within our community.

For example, ...

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Further Reading:

1. Any Luxury Homes in Foreclosure in Montecito CA?
2. How is the Hope Ranch Real Estate Market Holding Up with Short Sales and Foreclosures?
3. How to Find All the Goleta and Carpinteria CA Short Sale and Foreclosure Statistics
4. Any Great Short Sale Opportunites in Santa Barbara and Goleta CA
5. Strategies to Buying a Home in Foreclosure Here in Santa Barbara CA
6. Potential Negatives to Buying Santa Barbara Homes in Foreclosure
7. Any Great Deals on Homes in Foreclosure in Santa Barbara
8. Search the Santa Barbara MLS and More
9. Santa Barbara Real Estate Voice...Your Online Real Estate Resource
10. Little Known Advantages of Blogging Realtor in Santa Barbara and Montecito CA

For information on Real Estate here in Santa Barbara, Montecito and/or our surrounding areas, as well as any other aspects of life in our area, please don’t hesitate to contact Kevin Schmidtchen at Sotheby’s Int’l Realty.

Thank you for reading. I hope you find Santa Barbara Real Estate Voice informative. Please feel free to contact me or comment below with any thoughts.

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Search the Santa Barbara Area MLS

The familiar designs of Jeff Shelton here in Santa Barbara, CA. are now well recognized. His latest development called

El Andaluz, located at 531 Chapala Street is a 3-story, Moroccan influenced condominium project designed around an open-air courtyard. A total of seven very high quality residential homes with luxurious ...

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Further Reading:

1. Taking Sides on The Future Path of Downtown Santa Barbara Projects
2. Is Downtown Santa Barbara Vertically Challenged?
3. Santa Barbara CA Neighborhoods - Downtown
4. Santa Barbara Rated Amongst The Best Mid-sized Downtowns in California
5. The New Expansion of Luxury Townhomes and Condos in Santa Barbara CA.
6. The Secret of Santa Barbara and Montecito Oceanfront Property and Estates
7. The Luxury of Santa Barbara and Montecito Oceanfront

For information on Real Estate here in Santa Barbara, Montecito and/or our surrounding areas, as well as any other aspects of life in our area, please don’t hesitate to contact Kevin Schmidtchen at Sotheby’s Int’l Realty.

Thank you for reading. I hope you find Santa Barbara Real Estate Voice informative. Please feel free to contact me or comment below with any thoughts.

Subscribe to Receive Personal Listings of Santa Barbara Area Properties

Search the Santa Barbara Area MLS

3354 Cliff Drive, Santa Barbara CA 93109

Rare Opportunity not to be missed!! The Trust has priced this home to sell.

Approximately 1.6 almost flat acres located next to Hope Ranch, and Hendry's Beach in the prestigious Campanil Hill/Yankee Farm area. A charming early 1950's 3 beds 3 baths home in original condition sits on the property with a detached garage and an additional detached structure (studio/sun room). A very peaceful setting, with mature landscape including numerous avocado and fruit trees. Remodel or build your dream home. Property backs up to horse trails. Potential peak ocean views with a 2nd story addition. Property has an agricultural water meter.

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Asking Price: $1,175,000

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