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Montecito real estate for sale market statistics year to date for 2008 shows full recovery.

If your looking for gloom and doom about the real estate market, you best exit this posting quickly. Here are the stats tor Montrecito real estate market sales year to date for 2008 compared to the same period for 2007. You will see some pretty incredible statistics and trends. The average price is up 34% and the median is up 29% for the Montecito properties market thus far for 2008. The number sold is off 20% from last year with the average and median prices up, indicatng a lack of inventory of "better" homes to choose from. However when those "better" homes are found by the Montecito real estate buyer, they are receiving a premium price. Turn key values are what is moving in this unique Montecito properties market place. Gone are the days of a fix and flip. The Montecito value buyer wants no question marks left as to remodeling or upgradeing costs and doesn’t want to wait for the work to be completed. They are willing to pay for the turn key value that is move in ready and so that is what is currently moving this amazing Montecito real estate market place. Here is the chart for Montecito properties sold to date for 2008 over 2007.

Montecito real estate market sales statistics year to date for 2008

Santa Barbara properties, privately offered Santa Barbara estates, Santa Barbara ocean front for sale, Montecito estates, and the signature property Santa Barbara properties market is one which requires well informed local expertise and knowledge, crucial to successful acquisition and sale of rare estates. Custom searches of Santa Barbara properties on the beach, Santa Barbara estates, Montecito properties for sale, Hope Ranch real estate, Carpinteria beach estates information and anaylsis of Santa Barbara CA homes for sale, is available at this site and http://www.RareEstates.com, a fine home sale transaction network, with specialized resources and knowledge of unadvertised Santa Barbara properties and qualified Santa Barbara estates property investors. For exclusive comprehensive analysis and information about Santa Barbara ocean front for sale, privately offered Montecito estates, Santa Barbara estates, or the Hope Ranch properties, inquire here.

Uncategorized | No Comments » August 5th, 2008

Santa Barbara real estate market has bottomed. Over built and inland areas need a little more time.

Is the Real Estate market bottom already in? Many real estate experts as well Wall Street analysts seem to think so. As we know, real estate markets are a local event. Many experts now think Southern California’s coastal areas may be at their bottom. Inland areas, generally more over built in the last few years, may take a little longer in recovering, due to longer commutes and impactful gas pricing on those outer areas along with the overbuilding and higher foreclosures of those areas. For larger Southern CA counties, expect Orange County home prices to bottom first as it is relatively built-out and has much fewer homes in the "stater" category. Expect Los Angeles or San Diego County home prices to hit bottom next, then most likely San Bernardino or Riverside areas, probably turning the 1st quarter of 2009.

Attractive, traditionally hight demand areas like Santa Barbara, in and around the city of Santa Barbara, Santa Barbara’s south county area, have already bottomed. Foreclosures for June 2008 have hit a fourteen month low, and that is for the entire Santa Barbara County real estate market. The minimally effected south Santa Barbara County real estate market immediately surrounding the city of Santa Barbara, has its median price off just 2% compared to 2007 thus far in 2008. We have directly been involved with 5 multiple offer negotiations on 5 separate properties in the last 3 months. That does not happen in a "falling" market. We talk to many potential buyers daily and some cite the -13% median price drop statistics reported for the entire Santa Barbara County real estate market area which includes Lompoc up to Santa Maria, the hardest hit areas of Santa Barbara county real estate where a glut of over building has hurt those areas. Conversely, the south Santa Barbara County real estate area is virtually built out with almost all buildable land already used up, unbuildable or dedicated as open space. With a consistent high demand to acquire homes in and around the city of Santa Barbara, prices remain stable and appreciation of south Santa Barbara county real estate is truly more reliable. Montecito real estate in particular has median pricing up 22% for 2008 through June.

The Ventura County home market seems near a price bottom as well.

Even Wall Street has admitted that nationally this softened real estate market may be over blown and that now mortgage backed securities may be over sold.

Santa Barbara Properties Market outlook | No Comments » July 28th, 2008

Montecito Properties for sale in the Cold Spring School District

Montecito real estate for sale in the Cold Spring School District area of the Montecito properties market in Santa Barbara. The first 15 are listed here and all 30 available Montecito Properties in the Cold Spring School District can be viewed in this link. The Santa Barbara estates market continues it’s solid performance into 2008 and looks poised to out perform most other real estate markets once again.

Santa Barbara real estate Inventory | No Comments » July 26th, 2008

Santa Barbara real estate market should benefit from B of A, Countrywide merger

The following is a email we received from Don Dishion, senior loan consultant, and long time mortgage advisor which we wanted to post as it provides insight into the current home mortgage market here in the Santa Barbara real estate market place. To search current Santa Barbara properties available, use this customizable search to fit you needs.

To my friends and business partners, I am sure you have heard that the merger between Bank of America and Countrywide has been finalized. This is great news for our industry as two powerhouses in real estate loans with a combined nationwide market share of 18% have gotten together with the goal of obtaining a 25% market share! The only way that will be accomplished is to provide highly competitive programs and underwriting in the future and let the loan consultants do their job. What we do have now is the Countrywide management team in place keeping the same loan origination system that has made us number one in the South Coast Santa Barbara real estate market.

As you know underwriting guidelines have changed considerably. The most recent news in this regard is that Ben Bernanke did not outlaw the origination of stated income loans as we feared from the rumors we had heard in Washington and in the press. He did forbid the use of stated income loans for sub prime borrowers which was good, but fortunately did not mentioned anything along those lines regarding prime mortgage borrowers. This is fantastic as we all know that in the Santa Barbara real estate market, we would have a very tough time fully documenting all borrowers in this high priced community of entrepreneurs. Now we just need to get the secondary mortgage market to start purchasing these loans again now that home prices are stabilizing. Therefore the few lenders that are originating stated income loans have got to hedge their bets and price them high enough to insure that they will not be under water when the market loosens up. For loans to $417,000 the pricing for reduced documentation is still excellent. With home prices softened, buyers for these loans are getting easier to find. More good news is that jumbo and super jumbo loans are definitely available with Countrywide and most of the major lenders. Well qualified borrowers with a good down payment have these loans available. Also with in house processing the ability to close transactions in two weeks from start to finish if needed is available. This may help if a buyer’s first choice for a loan has not worked out.

In the early eighties, buyers were finding other ways to finance purchases besides going directly to the lenders as rates were as high as 16%. Things are definitely better than that era but due to tight money I think other options should be considered in addition to borrowing directly from conventional lenders. An obvious idea that has probably been ignored over the last few years is to explore the availability of seller financing. Other ways that deals were put together were through contract sales, wrap around mortgages (most of these if presented to the lenders would not be approved however), and making higher offers with sellers paying as much as 3 points to buy down the borrower’s rate making the payment more affordable. I am sure all of you know about these methods so for the short term it might be good to explore them again and find other creative ways to save your transactions if conventional financing is not available. The good news is there are great buys out there and where there is a creative will there is a way.

Don Dishion, Senior Loan Consultant, Countrywide Bank, FSB

Thank you Don

Santa Barbara Properties Market outlook | No Comments » July 25th, 2008

Santa Barbara Property Management, a national property management firm, Real Property Management is opening office in Santa Barbara CA.

Real Property Management is filling a large void in professional property management offered in the Santa Barbara County area. With over 200 offices across North America, Real Property Management is opening a Santa Barbara office. Directly contact here.

Most property management offerings in the Santa Barbara area as well as most cities in the US, come in 3 forms. Large commercial firms catering to institutional and individuals with large real estate investment holdings, Mom and Pop type or small business operations frequently overwhelmed with the logistics of managing more than 20 or 30 total units that do it as an adjunct to managing properties they own themselves, and local Realtor sales agents, trying to meet the needs of their investor clients, praying that there is a sale at the other end of the property management quagmire they reluctantly agreed to in the first place.

Obviously, none of these options meet the needs of residential real estate owners and investors who truly need professional oversight and management of their residential rental homes, condominiums, duplexes, small apartment buildings and small commercial spaces. The larger property management firms don’t really want the 1 or 2 residential investment properties and favor catering to the large apartment building, large commercial property or office building owners. The Mom and Pop or smaller management operations are simply underequipped to handle the day to day property oversight, maintenance and legal issues that invariably arise. And or course the local sales Realtor is focused on sales over all else, as that is where they really derive their income, and so are not primarily focused, informed or equipped to provide a professional management service so essential to protect the property owner and maximize the crucial return on investment.

Real Property Management Santa Barbara has specifically designed their property management services to address these issues for investment property owners. With the national support of over 200 offices and a fully available corporate staff of legal professionals, vendor liaisons, staff accountants, Internet marketing staff, seasoned property managers, maintenance experts, contractor and build out specialists, and 23 years in the property management business, all make Real Property Management Santa Barbara services absolutely unmatched. Combined with local ownership by a seasoned professional staff, market expertise, and a strong local presence, provide a property management service never before available that completely overmatches any competitor. Directly contact them here for a property consultation on your property management needs.

Real Property Management Santa Barbara service advantages are highlighted below:

Real Property Management Santa Barbara will enhance your property investment and maximize ROI on rent income and equity appreciation. THE National property management Professionals, locally owned.

If you own 1 rental or 100, RPM simply offers the best property management service available:

Minimize vacancy
We Screen, Screen, and Screen,
Credit and criminal background checks
Maximize rent
Quickest lease up times for your property
No lease up fees and no management fee while vacant
On time rent incentives to your tenants
Rent insurance for your tenants
Eviction insurance for your property
Regular inspections of your property
Rent to own incentive programs to maximize income
National and local vendor discounts
National discounts on materials and services
Full maintenance oversight for your property
Contractor build-out specialists with preferred rates for your property
Tenant referrals from over 200+ offices
Exposure on over 40 websites

Real Property Management, Santa Barbara

THE National Property Management Company. Over 200 offices. With full service offerings, national presence, buying power and full time corporate staff with legal professionals, vendor liaisons, staff accountants, Internet marketing staff, seasoned property managers, maintenance experts, contractor build out specialists, and 23 years in business, Real Property Management services are absolutely unmatched. Directly contact Real Property Management now for a free consult.

If your property is "under" managed you will almost certainly lose money and equity. You must protect your investment. Ultimately you will pay more for a property management service that does not meet our professional standards. Property owners, small companies or Realtor sales agents, simply cannot fulfill the requirements as capably as we do. Inefficiencies of non-experts will lose money and under serve your needs, which directly deplete your time and ROI. With 200+ offices and over 22,000 properties managed across North America, our expertise, service offering and buying power is unmatched. Like having your own private contractor See what true professional property management can do for your bottom line and peace of mind. Contact Real Property Management Santa Barbara today to schedule a personal inspection of your property and to get information on the best Property Management in Santa Barbara.

Santa Barbara property management | No Comments » July 22nd, 2008

Montecito real estate records another large celebrity property sale in the Santa Barbara real estate market

Another celebrity Santa Barbara real estate sale in Montecito CA has closed. From Monty Python fame, actor John Cleese’s horse ranch and home has finally sold after around a year on the market listed at $28 million. Reported to have sold for $16.5 million on June 12, 2008. The 15+ acre equestrian ranch in Montecito CA , in the Santa Barbara real estate market is a unique world class horse facility.

It is reported that the buyers is cellphone millionaire Craig McCaw, ex-husband to Wendy McCaw, current owner of the Santa Barbara News-Press. When their divorce was settled it was reported to be the largest in State of Washington’s history and one of the largest in the history of the US.

John Cleese, too, has also found marital bliss fleeting. He is no longer with his third wife, Alyce Faye Eichelberger, a psychotherapist. Probably the reason for the Montecito property sale.

This is yet another Santa Barbara real estate transaction among the affluent in the entertainment business in Montecito CA. Oprah Winfrey owns a large home in the Montecito real estate market place and has done exceeding well with it from an investment perspective. Read more about Oprah’s Santa Barbara real estate success here. Ellen Degeneres has also recently sold her Santa Ynez property for a tidy profit to purchase a Montecito residence which she sold just 2 years later for an additional winfall. The fact is that the Santa Barbara estates properties market from $2 million up, has sustained growth throughout this market with a +16% growth in median pricing to date for 2008. The Montecito properties market is up 18% this year alone. A statistic seldom reported in the main stream media.

Santa Barbara Properties Market outlook, Santa Barbara real estate Inventory | No Comments » July 20th, 2008

Bottom’s up: Barron’s reports that this real-estate rout may be short-lived

While the Santa Barbara real estate market has been one of the least effected in the US market, this Barron’s report shows the bottom may very well be in and short lived on a national basis.

Barrons:

Home sales and prices may be down, foreclosures may be mushrooming and the blowback from the subprime mortgage crisis may be threatening banks and secondary mortgage lenders, but there are some early signs the real estate market is trending in a more positive direction — although you may not know it if you rely on the mainstream media for your real estate news.

KEEP THIS IN MIND…

• Recent data suggest real estate market pessimism may be overblown. Even economist Karl Case, father of the S&P/Case Shiller Home Price Index, admits many industry pundits and members of the media are ignoring key facts – as demonstrated by their focus on negative year-over-year price figures rather than more recent monthly data. An example: Home prices actually increased slightly in eight of 20 Case Shiller markets between March and April. Instead, the focus of most media reports was on year-over-year figures, which continue to support the notion that the market may not have hit bottom, let alone begun to improve.

• Transaction-related indices may be skewed at present by a far larger than normal share of subprime-derived default and distress sales. In the San Francisco Bay Area, for example, more expensive homes (those priced over $721,548) have dropped in price by only about 10.7 percent from their peak, compared with homes priced under $473,711, which have tumbled by 40.9 percent.

• Even new housing construction numbers suggest an improvement, according to Case. He notes that housing starts, which fell to 975,000 in April from 2.27 million in January 2006, have fallen by similar percentages three times during the last 35 years. Case observes that each previous time this has occurred the market has staged a surprising upturn within a quarter. Only a slide into a recession would temper his optimism about the potential for a similar recurrence of this trend.

To read the full story, please click here:

Santa Barbara Properties Market outlook | 1 Comment » July 17th, 2008

Santa Barbara estates properties now has a single resource with full line of services

With the launch of a new website focusing on the Santa Barbara estates properties market, Montecito estates, Santa Barbara ocean front for sale, Santa Barbara view homes and customized Santa Barbara real estate searches for Santa Barbara estate buyers and sellers, a specialized market in the Santa Barbara area, www.RareEstates.com now provides a single resource for the Santa Barbara estates properties market area. Those same customized Santa Barbara property searches appear to the left on this page and can be further customized to suit exactly what you’re looking for with the ability to save those searches, as well as create favorite property folders to track specific properties of interest. Further, special Santa Barbara property requests can be sent directly from here. All contact information is treated as confidential and is never shared with anyone and you will not be subjected to any other marketing contact.

Average sale price sold above $10,000 for 2007 was 20% higher than 2006. Sales volume of properties above $10 million for 2006 more than doubled that of 2005 which significantly surpassed that of 2004, even while other market segments softened. Year to date in 2008 for properties sold at $10 million and up for Montecito Estates appears in the chart below. Average sale price for this segment is up 18% and the median sale price is up 28% year to date. The affluent home buyers is not affected or alarmed by other market segment performances. The Santa Barbara estate market is still performing solidly.

Working with a luxury home expert is a good strategy, but is not nearly enough for what this market segment fully requires. The mission at www.RareEstates.com is to be the single resource for all things relating to estate properties, the embodiment of a service definition for luxury and estate, which is absolute kindness, superior expertise, and utmost skill and trustworthiness. We want our clients to feel they can call on us for anything. If we cannot directly fulfill their need, then we will find the best resource to do so, as one would for a best friend or family member. The customary, menu of service offerings from traditional brokerage firms is inadequate and what we endeavor to significantly exceed. Santa Barbara estates properties require and deserve this level of unmatched service. We are the Santa Barbara estate concierge service. Contact us directly here for your specific property requests. We’re here to help.

Santa Barbara properties, privately offered Santa Barbara estates, Santa Barbara water front for sale, Montecito estates, and the signature property Santa Barbara properties market is one which requires well informed local expertise and knowledge, crucial to successful acquisition and sale of rare estates. Custom searches of Santa Barbara properties on the beach, Santa Barbara estates, Montecito properties for sale, Hope Ranch real estate, Carpinteria beach estates information and anaylsis of Santa Barbara CA homes for sale, is available at this site and http://www.RareEstates.com, a fine home sale transaction network, with specialized resources and knowledge of unadvertised Santa Barbara properties and qualified Santa Barbara estates property investors. For exclusive comprehensive analysis and information about Santa Barbara ocean front for sale, privately offered Montecito estates, Santa Barbara estates, or the Hope Ranch properties, inquire here.

Santa Barbara Properties Market outlook, Santa Barbara real estate Inventory | 1 Comment » July 17th, 2008

Santa Barbara properties for sale, Montecito estates, Santa Barbara real estate search, are all here with just a click

The customized Santa Barbara properties search in the left column on this page offer one click searches of virtually all Santa Barbara real estate for sale, pre-sorted by category updated daily. This is the most comprehensive, single source of Santa Barbara properties for sale on the internet, including Montecito properties, Santa Barbara properties, Hope Ranch real estate for sale, Summerland and Carpinteria properties, Goleta real estate, and Santa Ynez properties, all further sorted by property type and features such as Santa Barbara ocean front for sale, Santa Barbara view properties for sale, Montecito estates, and Santa Barbara Mesa properties. Simply click your preferred search and your there. You can then modify your Santa Barbara property search, save favorite Santa Barbara properties, and set up to automatically receive emails of properties that fit your search parameters the moment they come into the system. So you are the first to be alerted when a property of interest is for sale.

Santa Barbara properties, privately offered Santa Barbara estates, Santa Barbara water front for sale, Montecito estates, and the signature property Santa Barbara properties market is one which requires well informed local experticse and knowledge, crucial to successful acquisition and sale of rare estates. Custom searches of Santa Barbara properties on the beach, Santa Barbara estates, Montecito properties for sale, Hope Ranch real estate, Carpinteria beach estates information and anaylsis of Santa Barbara CA homes for sale, is available at this site and http://www.RareEstates.com, a fine home sale transaction network, with specialized resources and knowledge of unadvertised Santa Barbara properties and qualified Santa Barbara estates property investors. For exclusive comprehensive analysis and information about Santa Barbara ocean front for sale, privately offered Montecito estates, Santa Barbara estates, or the Hope Ranch properties, inquire here.

Santa Barbara real estate Inventory | No Comments » July 6th, 2008

Montecito properties for sale, 7 estate acres and charming cottage open today 2 PM to 4 PM.

For Santa Barbara view properties for sale, this rare Montecito estates acreage on a private lane, with fantastic 360 degree panoramic island, harbor, city, ocean, and mountain views with incredible sunsets! The opportunity to create a magnificent Montecito estates property with a guest home, make this a unique value, as large Santa Barbara estates parcels this size are extremely rare. Live on your very own gated, secluded knoll, with ideal south exposure, and unobstructed views of Channel Islands, ocean, harbor and mountain views. Views of sunrise and sunset, enjoying the serenity, peace and quiet from your very own compound. Relish in the privacy of this secluded setting! Bask, in the sun, above the fog.

View more photos of this magnificent Montecito estate acreage here.

Montecito estates property

Montecito Estates property

Cycle, walk, or jog inspiring picturesque, mountain roads, while viewing the Pacific Ocean. Walk out your front door, and pick fruit and avocados out of your very own established orchard of over 150 fruiting trees. Process olives and lavender from the existing orchards. Hike down your private trails to a babbling creek and, up the mountain to Parma Park. Lie on a hammock at night and watch the stars fall and the moon rise over the ocean.

Driving through a gated, stone wall entrance, brings you to a private lane, in an exclusive enclave. Your charming ridge top, California cottage is 3 bedrooms & 2 baths. Enjoy a European style rock wall, into an olive orchard and lavender lined driveway. From there, it is 360 degree views. This prime location is extremely private yet only six minutes to Montecito Village or Santa Barbara. Potential abounds for more lawns, tennis court, pool, gardens or orchards. Situated on seven acres next to Parma Park, separated by a babbling creek. There is an approximate 1.4 acre+- development envelope, 16,000 sq. ft. +- main building envelope, and a 1200 sq. ft. +- accessory building envelope and existing conditions of approval with the city of Santa Barbara which will allow a 4900 sq. ft. +- main building and 1200 sq. ft. +- of additional structures. (Pending verification with Santa Barbara agencies). A rare opportunity to purchase this magical paradise!

Offered at $3.8 million. For more information about this privately offered Montecito estates parcel and home, contact us here. Your information is held in strict confidence.

Santa Barbara properties, privately offered Santa Barbara estates, Santa Barbara water front for sale, Montecito estates, and the signature property Santa Barbara properties market is one which requires well informed local experticse and knowledge, crucial to successful acquisition and sale of rare estates. Custom searches of Santa Barbara properties on the beach, Santa Barbara estates, Montecito properties for sale, Hope Ranch real estate, Carpinteria beach estates information and anaylsis of Santa Barbara CA homes for sale, is available at this site and http://www.RareEstates.com, a fine home sale transaction network, with specialized resources and knowledge of unadvertised Santa Barbara properties and qualified Santa Barbara estates property investors. For exclusive comprehensive analysis and information about Santa Barbara ocean front for sale, privately offered Montecito estates, Santa Barbara estates, or the Hope Ranch properties, inquire here.

Santa Barbara Pocket Listing | No Comments » July 6th, 2008

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