December 17th, 2014 · American Riviera, Mark Lomas and Kirsten Wolfe, Santa Barbara Coldwell Banker
December 16th, 2014 · 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
December 15th, 2014 · Mark Lomas and Kirsten Wolfe, Real Estate News, Santa Barbara Coldwell Banker
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.
December 13th, 2014 · American Riviera, Mark Lomas and Kirsten Wolfe, Santa Barbara Realtors
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!
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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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
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.”
November 28th, 2014 · Mark Lomas and Kirsten Wolfe, Market Conditions, Remodeling, Santa Barbara Real Estate Market Trends
November 24th, 2014 · American Riviera, Mark Lomas and Kirsten Wolfe, Santa Barbara Realtors
Painting by Chris Potter
Real Estate Industry News/Trends
Rental Apartment Construction Is At A 27-Year High; WSJ Real Time Economics Blog
Economic News/Legislative Affairs
Exclusive: America’s Part-Time Economy; CNN Money