Santa Barbara Real Estate

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Santa Barbara Real Estate

August 14th, 2017 · California Real Estate, Santa Barbara Real Estate, Santa Barbara Real Estate Market Trends

The market may have taken a turn? Santa Barbara real estate Market Trends from January 2013 to July 2017 for the number of sales for that month. This graph was created by Fidelity Title Company of southern Santa Barbara covering the communities of Carpinteria to Goleta (southern Santa Barbara).

Click on image to enlarge.

 

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502 Picacho Lane in Montecito, California

August 10th, 2017 · California Real Estate, Montecito Homes For Sale, Montecito Real Estate, Montecito Realtors

502 Picacho Lane open this Sunday & Saturday from 1 to 4pm

This four bedroom home can be found on one of Montecito’s most prestigious streets. This remodeled Mediterranean style home resides on approximately one acre and offers wonderful mountain views. Other amenities offered are a pool with an in-pool spa, multiple terraces, built in BBQ, and spacious lush garden areas. Located near Montecito’s Upper Village. Offered at: $4,450,000

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Montecito Heat Index

August 9th, 2017 · Montecito Homes For Sale, Montecito Real Estate, Montecito Realtors, Santa Barbara Real Estate

The Montecito Heat Index is a measurement of market demand for Montecito single family homes in five distinct price sectors.  Although completed sales are the favored metric for market performance, such data is always at least a month old.  The heat index here uses a ratio of properties for sale to those under contract to determine the current demand or heat.   Since real estate fluctuates seasonally the heat score (demand) here is compared to this same time a year ago.

The data is from the Santa Barbara MLS and deemed reliable. The heat score right now is 110, a solid increase of 77.4% over last years 62.  The Montecito Heat Index is featured in the Montecito Journal’s July 20-27th issue in the “Real Estate View” by local Santa Barbara Realtor Michael Phillips.

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Mortgage Rates Rise Slightly

August 5th, 2017 · Mortgage Information, Santa Barbara Real Estate

Expectations for the economy are improving, and GDP is expected to rise by a healthy amount this quarter.  However, fears still remain, and this has kept mortgage rates relatively flat. Over the past week, mortgage rates increased to 3.93%. This is an increase of just one basis point (0.01%) from the previous week, so it’s possible that rates actually decreased in some areas around the country. While a lot of points can be made about mortgage rates increasing this past week, the truth is that rates are likely going to remain near their current levels for the time being.


Currently, there are plenty of factors that could be forcing mortgage rates higher. The Fed has been raising their rate and they plan on selling back their bonds. Both of those actions can increase mortgage rates. Also, the economy is doing well. Generally speaking, the better the economy the higher rates are. But investors are being cautious with rates, and this can be an advantage for home buyers. As long as investors continue to worry about the future of rates, mortgage rates should continue to hold near lower levels. With rates hovering around their current levels, home buyers may want to check to make sure that the rates available to them now haven’t changed by much.

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495 Toro Canyon Road in Montecito, California

August 1st, 2017 · California Real Estate, Montecito Estates, Montecito Homes For Sale, Montecito Luxury Properties, Montecito Realtors

Open House Sunday August 13, 2017 from 1-4 pm

This enchanting gated estate, on 2+/- acres in magical Toro Canyon, is where chic luxury meets coastal casual. Its main residence is a refined yet uber-comfortable (nearly 4,000 sq. ft.) California farmhouse. This amazing property shares the grounds with a pair of guest cottages that are all set amidst native and tastefully introduced landscaping. Sandstone paths meander through luxuriant foliage, with a canopy of palm, oak and eucalyptus trees beside a seasonal creek, opening here and there to delightful ocean and island vistas. This showcase home is equally suited to enjoying family, and entertaining guests.  Captured here is the essence of California coastal living.

NEW PRICE: was  $4,395,000  now $3,975,000

• 4 Bedrooms  4 Full Baths • Built in 2012 • 2 +/- acres (approx.) • 3,836 sq’ (approx.) * For Private Tour contact us at 805.845.2888

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Fiesta! Old Spanish Days in Santa Barbara!

July 31st, 2017 · Santa Barbara Fiesta "Old Spanish Days", Santa Barbara Real Estate

“Old Spanish Days” is Santa Barbara’s largest celebration and one of the top regional festivals in the United States.  It is expected to attract more than 100,000 people this year, making it one of the biggest to date.    This year “Fiesta!” will take place in various locations around the city  August 2nd through the 6th.

This celebration of community fondly looks back to a period when Santa Barbara was a remote rural area under the influences of Spanish, Mexican, and local Native American cultures.  Fiesta celebrates a period of romance and hospitality through pageantry, dance, music, custom, and cuisine.  Santa Barbara Fiesta 2017

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Santa Barbara Real Estate Statistics

July 22nd, 2017 · California Real Estate, Santa Barbara Real Estate, SB Real Estate Statistics

The average selling price for a single family home in Santa Barbara rose to 1.3 million dollars, a 6% increase compared to last year’s second quarter.

In Montecito, the number of single family homes sold increased 20% from 55 homes sold in the second quarter last year to 66 homes sold in the second quarter this year.

South Santa Barbara Real Estate Statistics for June 2017 (Carpinteria to Goleta)      Single Family Homes  Average sales price: $1,705,070 (-4%) * Median Sales Price: $1,287,000 (+7%) Condominiums Average Sales Price: $715,4222 (0%)  Median Sales Price: $645,000 (+8%)  * June 2017 Sales for single family homes sold: 158 (+26%) * June 2017 Sales for Condominiums Sold: 51 (+34%) Average Days on the market for single family homes: 76 days * Average Days on the market for condominiums: 61 days.  Total Sales: 209 for June 2017 (Data provided by Fidelity Title Company)

Will Robots Replace Realtors and change the Real Estate Industry?

Vacation Rentals Spark Controversy in Santa Barbara

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Jeff Shelton’s El Jardin in Santa Barbara

July 21st, 2017 · California Real Estate, Santa Barbara, Santa Barbara Homes For Sale, Santa Barbara Real Estate, Santa Barbara Realtors

Architect Jeff Shelton’s “El Jardin” at 819 Garden Street in Santa Barbara, California. A unique four bedroom four and one half bath mixed use property near the heart of downtown Santa Barbara. Jeff is also an eclectic artist whose whimsical creations have turned this property into a masterpiece. The property also offers a rooftop deck with amazing views overlooking Santa Barbara, the Pacific ocean, and Santa Ynez  mountains.  Asking price: $3,950,000

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Santa Barbara Average and Median Price Trends

July 17th, 2017 · Santa Barbara, Santa Barbara Real Estate, Santa Barbara Real Estate Market Trends

This chart reflects the “Average” and “Median” price trend for southern Santa Barbara real estate sales for the last 27 years. This price trend reflects all the communities from Carpinteria up through Goleta. The “Average” sales price is calculated by adding all the sales prices and dividing that number by the number of properties sold.  The “Median” sales price means that exactly half of the homes listed are above this price, and exactly half are below.  The problem with the “Average” sales price is that if one or more properties were sold at an extraordinarily high or low price, the average is skewed higher or lower as a result and then becomes an unreliable metric.  Chart provided by Fidelity Title Company of Santa Barbara, California. Click on image to enlarge.

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1570 Bolero in Montecito Open 7.23.2017

July 16th, 2017 · California Real Estate, Montecito Homes For Sale, Montecito Real Estate, Montecito Realtors

1570 Bolero Drive in Montecito will be open this Sunday from 1 to 4pm. July 23, 2017.  Offered at $3,975,000.  Casually elegant single level home. Close to the Montecito Upper Village with spectacular mountain views.  Close to world renowned San Ysidro Ranch as well as local hiking and biking trails.  Easy living open floor plan that takes advantage of the indoor outdoor lifestyle of Santa Barbara/ Montecito. French doors, high ceilings, wood floors, and abundant natural light.

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