The Santa Barbara Courthouse Aerial Photography by Technopanorma.com
The year 2015 may go down in the record books as the year of the California homebuyer.
A forecast by the California Association of Realtors offers unbridled optimisim for homebuyers in the coming year. CAR is predicting that the supply of available homes on the market will continue to grow, and prices will flatten as fewer investors will be bidding against traditional homebuyers as home sales rise modestly across the state. CAR also predicts that mortgage interest rates will remain at historically low levels throughout the year.
Looking at the numbers CAR said existing home sales will rise 5.8% in 2015 after an expected 8.2% drop in 2014. Mortgage rates will rise only slightly to 4.5%. The statewide medium home price is projected to rise 5.2% following an expected 11.8% increase this year – the slowest rate of price appreciation in four years.
If you’re considering making a move in this market give us a call, text, or email and let us show you how are experience and skills can make the difference you’re looking for!
Tags: Hope Ranch Realtors·Montecito Realtors·Santa Barbara Realtors
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
Tags: hope ranch real estate·Montecito Real Estate·Santa Barbara Real Estate
Source: 2014 Wealthy Consumer Survey conducted by Coldwell Banker Previews International
Tags: Montecito Estates·Montecito Luxury Properties·Montecito Properties·Montecito Realtors
How to obtain the highest price in the least amount of time?
Understanding important marketing concepts will make a big difference in the success of selling your home. The first is that real estate is a commodity, NOT a product.
With a product, the seller or manufacturer establishes the price and the public either buys the product or not after becoming aware of it through advertising. For example, a television is a product priced according to the manufacturer with a price that does not fluctuate regularly.
However, with a commodity, buyers decide the value based on what is happening in the market and their perceptions of the value of that commodity. Commodities, like stocks, sell every day with prices fluctuating and are strongly influenced by economic factors like supply and demand.
When selling a home, proper price positioning will determine the activity level and perception of value. A buyer’s perception of value based on their knowledge of the local real estate market determines whether a property sells or not. The showing activity, days on the marke, and the number of offers received for a property will indicate how well the property has been positioned in a given market for the buyer pool. By John Nesbit
Tags: Kirsten Wolfe·Mark Lomas·Montecito Estates·Montecito Realtors·Santa Barbara Properties