May 21st, 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
May 21st, 2015 · Santa Barbara Real Estate
The 29th I Madonnari Italian Street Painting Festival will be taking place from 10am to 6pm on May 23rd, May 24th, and May 25th in front of the steps of the Old Santa Barbara Mission! The I Madonnari Festival is the first of its kind in North America. The Festival presents the performance art of street painting and raises vital funding for the Children’s Creative Project (CCP), a non profit arts education program of the Santa Barbara County Education Office.
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May 18th, 2015 · Santa Barbara Real Estate, Santa Barbara Realtors, Zoning Information Reports
On May 16, 2015 the Santa Barbara News-Press’s staff writer Paul Gonzalez wrote that, ” according to the Santa Barbara County’s Grand Jury the Santa Barbara Zoning Reports are unreliable, and have outlived their usefulness.”
A Zoning Information Report is a disclosure issued by the Community Development Department of a home’s zoning and permitted uses. An abstract or summary of that property. The reports are required by anyone selling their home here in Santa Barbara. The 17 page report released Wednesday found the ZIR’s have become inconsistent and unreliable. The reports were adopted in 1974 to prevent illegal construction, illegal rental units, and monitor adequate street parking. The Zoning Information Reports which have become the bane of realtors here in Santa Barbara are under the microscope now. In other areas of California they’re referred to as Resale Inspections. Unfortunately the Community Development Department has done a poor job of inspections without taking responsibility for their mistakes at the expense of many home sales. It’s a shame, because as people have found out in other areas outside Santa Barbara, “Resale Inspections” by that city or town’s Building Department often time reveal important information regarding the subject property – and can be an excellent disclosure for prospective buyers. Wouldn’t you like to know if something was built without permits?
The Grand Jury recommends that the ZIR’s become voluntary and for informational purposes only. If you’re thinking of buying a home in Santa Barbara you might have to request a ZIR report in your offer if that happens. The Santa Barbara City Attorney, Ariel Calonne, declined to comment. The City must respond to the Grand Jury within 90 days.
May 16th, 2015 · Carpinteria Real Estate, Goleta Real Estate, Hope Ranch Real Estate, Montecito Real Estate, Santa Barbara Real Estate, Summerland Real Estate
For the month of March Home/Estate/ PUD sales went up for the month with 117 closings from the 58 we saw in February. The Median Sales Price also rose to about $1.2 million up from $1,035,000 at the end of February while the days on the market for sold properties went down to around 54 from the 71 we saw in the previous month. Opened escrows stayed at about the same level from 121 in February to 118 in March. There were approximately 160 new listings that came on the market in March with a median list price of roughly $1,450,000 and an average list price of about $2,500,000 with the overall inventory rising from about 260 units for sale at the end of February to around 280 at the end of March.
For the Condo segment of the market sales went up to 56 in March from 27 in February. There were about 45 new condo listings that came on the market for the month with a median list price of about $599,000 and an average list price of approximately $686,697. But, unlike the Homes/Estate/ PUD market the overall inventory fell from just about 86 to roughly 65.
The data below reflects the average sale’s price for the 1st quarter of 2015 over the last 5 years.
Click on the image to enlarge
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May 15th, 2015 · American Riviera, Mark Lomas and Kirsten Wolfe, Montecito Real Estate, Montecito Realtors
The 700 mile bike race that began May 10th in Sacremento and ends in Pasadena on May 17th came through Santa Barbara today! Within just a few feet of Sotheby’s International Realty’s Upper Village offices in Montecito, the bike race passed thru on East Valley Road to the cheers of passerby’s lining the street! Check out this 29 second video of the race!
May 14th, 2015 · Mark Lomas and Kirsten Wolfe, Market Conditions, Montecito Realtors, Santa Barbara Realtors
(Click on image to enlarge)
May 13th, 2015 · Mark Lomas and Kirsten Wolfe, Montecito Real Estate, Montecito Realtors
Offered at $5,750,000 6 Bedrooms 6 Baths, pool, ocean and mountain views in a private setting!
May 13th, 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
May 7th, 2015 · Hope Ranch Real Estate, Mark Lomas and Kirsten Wolfe, Montecito Real Estate, Santa Barbara Real Estate
On May 5, 2015 the Santa Barbara View editorial reported that the likely hood of Stage 3 Drought Emergency in Santa Barbara was emenient. Here’s an excerpt from that editorial: “Today at their weekly meeting, the Santa Barbara City Council will likely discuss and adopt stage three water use regulations and development restrictions.
According to the Agenda, for over a year, the City has been taking successive steps in response to what has turned out to be the worst dry period on record in Santa Barbara, with 2015 being the end of the driest four years on record. These steps have been in line with the City’s Water Shortage Contingency Plan and the 2011 Long-Term Water Supply Plan, which are based on the following principles:
• Most of the City’s water supplies depend on rainfall to fill reservoirs;
• Severe drought is an expected part of water supply planning and develops over a number of years, as our primary water supplies diminish;
• A drought might end in a relatively short time, but the lead time needed to ensure an adequate supply of water requires an assumption of continuing drought; and
• Management of customer demand is a critical part of water supply management, including ongoing efficiency improvements during normal times and extraordinary additional cutbacks during extended dry periods.
See more at: Santa Barbara Stage 3 Drought Emergency
Update from KEYT News Channel 3 in Santa Barbara
May 7th, 2015 · Mark Lomas and Kirsten Wolfe, Santa Barbara Real Estate, The Economy
“Unlike the rest of the world’s economies, which generally “kinda suck,” Santa Barbara’s is looking up, said Peter Rupert on Thursday. The director of the UCSBEconomic Forecast Project spoke to a Granada Theatre packed with South Coast business elite for the think tank’s 34th annual summit. “Everything seems to be moving in the right direction,” he said. “Things are basically positive.”
During his speech and in an accompanying report, Rupert described how our area’s GDP is still rising, employment growth is outpacing California’s, new businesses are springing up, and home values are increasing. Those sunny statistics are expected to continue over the next few years, he said.
The report — which also addresses lingering issues, like the drought and tough post-Recession regulations on banks — puts finer points on those topics. (Most of the data, however, only goes up to the end of 2013 because of slow responses from government agencies.)
• In 2013, onshore oil production went through its largest growth spurt since 1996, jumping 26 percent over the previous year. Offshore production grew 10 percent.
• Santa Barbara’s total agricultural crop value rose 10 percent between 2012-2013. Wine industry output grew by 79 percent. The drought has had only a “moderate effect” on agricultural production so far, the report claims, with avocados, apiary products, and cattle feeling the worst of it.
• Real estate remains the biggest industry in Santa Barbara County, comprising 19 percent of its GDP. The ag industry had the largest growth rate (12 percent); mining shrunk the most (-14 percent).
• Retail sales grew the fastest for clothing and clothing accessory stores (10.6 percent) and building material and supply dealers (9.4 percent).
• Total employment throughout all industries increased by 3,145 workers, a gain of 1.6 percent. The forecast suggests 2,692 more jobs will be added in the county between December 2014 and December 2015
• Home values continued to rise across all cities, ranging from 4.12 percent to 30 percent year-over-year growth. The speedy increase in value during 2013, which peaked at an average annual growth rate of 21 percent, started to decline in early 2014.
The report’s mostly happy bulletins were tempered by a less-than-positive update on Santa Barbara’s rental market. Analyst Dawn Dyer with Dyer Sheehan Group, Inc., wrote that 2014 was a “tough time” for renters as “record-breaking” demand for housing “spiraled out of control.” Millennials deciding to finally set out on their own and thousands of foreign students flocking to the area forced the average South Coast rent to soar 7.1 percent in the last year.