An exciting end to 2014 here in Southern Santa Barbara as the average sales price went from about $1,400,000 in 2013 to $1,700,000 in 2014 for an 18.5% rise. However, the number of single family homes sold was down significantly by about 17%. Sales price is up, number of sales are down.
January 29th, 2015 · Carpinteria Real Estate, Ennisbrook, Hope Ranch Real Estate, Montecito Real Estate, Santa Barbara Real Estate, Summerland Real Estate
January 28th, 2015 · Mark Lomas and Kirsten Wolfe, Santa Barbara Real Estate Market Trends, SB Real Estate Statistics
Something new for Santa Barbara Real Estate! Live Statistics! Sales asking prices for the last 7 days, and the last 90 days. If you’d like to take the “Pulse” of today’s market here’s where you’ll find it.
Iif you’re not familar with Santa Barbara’s Zip Codes, here they are:
Carpinteria: 93013, Summerland: 93067, Montecito: 93108, SB Westside: 93101, SB Westside: 93109 , SB Eastside: 93103 (Riviera), SB Eastside: 93105, Hope Ranch: 93110, Goleta:93111. Goleta/county: 93117, and Santa Ynez: 93460
January 26th, 2015 · Santa Barbara Film Festival
TONIGHTS THE NIGHT! OPENING NIGHT!
January 22nd, 2015 · Mark Lomas and Kirsten Wolfe, Miramar Hotel, Montecito Real Estate, Montecito Realtors
KEYT reported today that the Miramar Hotel project resolved some parking issues before the Montecito Planning Commission voting 3 to 2 to give the project the green light. Members of the Commission received a 5,000 page document that describes the 170 room hotel with valet parking, a private membership club, a public beach, and a banquet hall. The story poles viewed from 101 can come down. Developer Richard Caruso has been in an eight year battle over the project. Possibly, the Miramar Hotel could be “up and running” by 2017.
In 2014 this was a reconfigured proposal for the Miramar Beach Resort and Bungalows (may not reflect the final outcome)
January 21st, 2015 · Hope Ranch Real Estate, Mark Lomas and Kirsten Wolfe, Montecito Real Estate, Santa Barbara Real Estate
January 19th, 2015 · Mark Lomas and Kirsten Wolfe, Market Conditions, Neighborhood News
January 16th, 2015 · Market Conditions, Santa Barbara Real Estate, Santa Barbara Real Estate Market Trends
Graph provided by Fidelity Title Company Santa Barbara
Covering the communities from from Carpinteria to Goleta
January 16th, 2015 · American Riviera, Mark Lomas and Kirsten Wolfe, Santa Barbara Realtors
January 15th, 2015 · American Riviera, Carpinteria Real Estate, Ennisbrook, Hope Ranch Real Estate, Montecito Real Estate, Open Houses, Property Search, Santa Barbara Real Estate, Santa Barbara Realtors, Summerland Real Estate
January 13th, 2015 · Hope Ranch Real Estate, Montecito Real Estate, Santa Barbara Real Estate
Here’s an update on housing trends. Or, more precisely, here’s an update on what people think the trends will be. Despite having no objective way to know the future – and despite an apparent disregard for the reality that housing hasn’t been a great investment over the long run – people are constantly changing their opinions about long term trends. And lately, they’ve become somewhat more optimistic.
Since 2003, Dodge Data and Analytics has asked, “On average over the next 10 years, how much do you expect the value of your property to change each year?” In 2004, a boom year, the average answer was 12.6 percent, but in succeeding years the figure began to decline, bottoming at 4 percent in 2012. The expected gain rose to 4.2 percent in 2013, and 5.5 percent in mid 2014.
These expectations are hardly wild: If inflation ran at 2 percent a year, the Federal Reserve’s target, the expected appreciation in housing would be an inflation corrected 2 percent to 3.5 percent a year. So, at the moment, there is no evidence of a real estate bubble.
One wild card in housing prices is the future of the mortgage interest tax deduction. While it’s beloved by many taxpayers, it may not last – and if it doesn’t, short term trends could be affected.