Santa Barbara Real Estate

"Welcome to the American Riviera!"

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The World’s Most Expensive Homes

December 17th, 2014 · American Riviera, Mark Lomas and Kirsten Wolfe, Santa Barbara Coldwell Banker

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Santa Barbara “Live” Real Estate Statistics

December 16th, 2014 · Mark Lomas and Kirsten Wolfe, Santa Barbara Real Estate Market Trends, SB Real Estate Statistics

real-time real estate market research
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

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For Buyers, Sellers, and the Real Estate Curious

December 15th, 2014 · Mark Lomas and Kirsten Wolfe, Real Estate News, Santa Barbara Coldwell Banker

Millennial Update

By the end of 2015, millennial buyers (under the age of 35) will become the largest group of buyers, overtaking Gen X (35-50 years old).

Roughly 42 percent of millennials say they want to buy a home in the next one to five years, compared to just 31 percent of Generation X, and by the end of 2015 millennials will become the largest home buying age group.

The lack of home buying activity from millennials thus far is decidedly not because this generation isn’t interested in homeownership, but instead because younger Americans have been delaying getting married and having children, two key drivers in the decision to buy that first home.   As this generation matures, they will be a homebuying force to be reckoned with.  Stan Humphries, Zillow Chief Economist

Parking Real Estate

Ten parking spaces of 150 to 200 square feet each – one flight below the street – at the apartment building at 42 Crosby Street in New York City have been offered for sale by the developer for $1,000,000 (One Million Dollars) each.  Nearly 5 times the median U.S. price for an entire home.

 

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Welcome to the American Riviera

December 13th, 2014 · American Riviera, Mark Lomas and Kirsten Wolfe, Santa Barbara Realtors

The American Riviera from Mark on Vimeo.

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The Benefits of Owning a Home

December 13th, 2014 · Carpinteria Real Estate, Ennisbrook, Hope Ranch Real Estate, Montecito Real Estate, Santa Barbara Real Estate, Summerland Real Estate

Editorial The New York Times December 12, 2014

Homeownership has gotten a bad rap, said The New York Times.  ” Since the housing bust, renting has been in and owning a home has been out, especially among young adults who in earlier decades would have been first time buyers.”  Today just 64.3 percent of Americans own homes – a 20 year low!  That’s a shame, since howeownership long has been central to Americans ability to build wealth.

In 2013, the median net worth for homeowners was $195,400 compared with just $5,400 for renters.  Buying a home simply forces people to save – for both the initial down payment and monthly mortgage payments.  And while the housing bust proved how risky homeownership can be, the lesson of that debacle is not for individuals to avoid homeownership or for policymakers to devalue its importance.

A wiser path is to foster conditions that allow more middle and lower income Americans to climb onto the housing ladder, including smarter regulations governing lenders, better consumer protections, and more robust wage growth.  Renting can make sense as a lifestyle choice or because of income constraints.  As a means to building wealth however, there is not practical substitue for homeownership!

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Santa Barbara Homes For Sale

December 1st, 2014 · Carpinteria Real Estate, Ennisbrook, Hope Ranch Real Estate, Montecito Real Estate, Santa Barbara Homes For Sale, Santa Barbara Real Estate, Summerland Real Estate

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Click here to begin your Santa Barbara Home Search:

Santa Barbara Homes For Sale

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Santa Barbara Online Weekend Open Houses

November 28th, 2014 · 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

 Weekend Online Open Houses for Santa Barbara

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Sooner than Later?

November 28th, 2014 · Hope Ranch Real Estate, Mark Lomas and Kirsten Wolfe, Montecito Real Estate, Santa Barbara Real Estate

Freddie Mac’s Chief Economist, Frank Nothaft, recently stated that, “Both interest rates and home prices are projected to increase in 2015.  If you’re planning to buy a home in the next year, it’s better to do it sooner than later.”

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The Value of a Remodel

November 28th, 2014 · Mark Lomas and Kirsten Wolfe, Market Conditions, Remodeling, Santa Barbara Real Estate Market Trends

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For Buyers, Sellers, and the Real Estate Curious

November 24th, 2014 · American Riviera, Mark Lomas and Kirsten Wolfe, Santa Barbara Realtors

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Painting by Chris Potter 

Real Estate Industry News/Trends

$1 Million-Plus Home Sales Up 16%; CNBC

New York’s Multimillion Dollar Home Sales Keep Soaring; CNN Money 

Rental Apartment Construction Is At A 27-Year High; WSJ Real Time Economics Blog 

Fannie Mae, Freddie Mac Adjust Loan Repurchase Rules; Reuters 

Fannie Cuts Mortgage-Rate Outlook, But Home Buyers May Not Bite; MarketWatch 

Competition

Inventory Rising Among Most Expensive Homes, But Low-Priced Homes Still Scarce; Zillow

Economic News/Legislative Affairs 

Economic Growth Slowing After Mid-Year Burst, But 2015 Growth Expected To Top 2014; Fannie Mae

Economy Shows Strength As Inflation Stays Low; NY Times

Exclusive: America’s Part-Time Economy; CNN Money

Mortgage Rates

Low Interest Rates Drive Refinances To Six-Month High; HousingWire

Overnight Averages from Bankrate.com

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