CORT Report Sales for Santa Barbara CA. December 2009 & January 2010
Categories: Hope Ranch, Market Statistics / Updates, Montecito, Santa Barbara
View: Detailed list of each home that has sold including price for January 2010
Further Reading:
- The Mesa Neighborhood 2009 Sale Statistics
- The Riviera Neighborhood 2009 Sales Statistics
- Hope Ranch CA Real Estate Home Sales Statistics - 2009
- Montecito CA Real Estate Home Sales Statistics - 2009
- The Riviera Neighborhood
- The Upper East Neighborhood
- Santa Barbara Market Statistics
- Santa Barbara Photo Tour
- Buyer’s Resources for the Santa Barbara area
- Seller’s Resources for the Santa Barbara area
For information on Real Estate here in Santa Barbara, Montecito and/or our surrounding areas, as well as any other aspects of life in our area, please don’t hesitate to contact Kevin Schmidtchen at Sotheby’s Int’l Realty.
Thank you for reading. I hope you find Santa Barbara Real Estate Voice informative. Please feel free to contact me or comment below with any thoughts.
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New Luxury Bank Owned Opportunity - Montecito Foreclosure with Great Views $3.5 Million
Categories: Foreclosures & Bank Owned, Luxury Real Estate, Montecito
One of the few luxury banked owned homes to come onto the market happened this last week. The bank will be taking a look at offers early this coming week. Wonderful ocean, harbor and city views on roughly 1.3+/-acres. Currently under construction although much of the home is complete. 3 bedrooms, 2.5 baths with a guest home, 3 car garage which is still under construction and in the beginning stage of being converted into a 2 bedroom guest home. Can be converted back to garage or will need to submit permits to continue work. This is a true opportunity.
Further Reading:
- Any Luxury Homes in Foreclosure in Montecito CA?
- How is the Hope Ranch Real Estate Market Holding Up with Short Sales and Foreclosures?
For information on Real Estate here in Santa Barbara, Montecito and/or our surrounding areas, as well as any other aspects of life in our area, please don’t hesitate to contact Kevin Schmidtchen at Sotheby’s Int’l Realty.
Thank you for reading. I hope you find Santa Barbara Real Estate Voice informative. Please feel free to contact me or comment below with any thoughts.
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Pros and Cons of Buying Foreclosures in Santa Barbara, Carpinteria and Goleta CA.
Categories: Carpinteria, Foreclosures & Bank Owned, Goleta, Santa Barbara
As a home buyer in today’s market here in Santa Barbara, Goleta and Carpinteria, you may be able to get “deals” on 
foreclosures, but buying foreclosures can be risky as well. If you are looking at foreclosures as an option for a home purchase, it is crucial to understand the many potential cons associated with the one obvious “pro” of buying a foreclosure.
First, there are a few definitions of properties that are generally thrown around and become universally known as “foreclosures.” A “pre-foreclosure” for example is a home which is in danger of falling into foreclosure, but is still owned by the homeowner. An example is simply a homeowner that has stopped making payments and has received a notice of default. A true “foreclosure” is a property that has already been repossessed by a creditor or a lender to recover the amount owed on it and is being put on the open market. These foreclosures can be bought at either an auction or later on the open market as “bank-owned properties” (REO properties) from a lender.
The Obvious “Pro” of Buying a Foreclosure in Santa Barbara
The obvious potential to purchase a home at a lower-than-market-value price. DONE! That is that.
Banks are often willing to offer foreclosures at a discount simply because the longer they hold onto these properties, the more it will cost them in terms of taxes, maintenance, etc. Here in the Santa Barbara area, foreclosures can be found at all price points (starter homes, luxury homes, etc.), but the vast majority are situated in the lower end price range from about $250,000 to $750,000.
Some of The Not So Obvious Cons to Buying a Foreclosure in Santa Barbara
- Since “good” foreclosures can sometimes be offered at significant discounts, you will almost undoubtedly face steep competition and bidding from other buyers. In a town such as Santa Barbara, often these buyers are all cash and are tough to beat. But this is not always the case.
- If you buy a foreclosed home at an auction, you may also find yourself in a situation that you have to pay cash (that day!) and may not be able to do proper inspections of the home before purchasing.
- Not all lenders offer loans for distressed properties.
- Many foreclosures need serious and costly repairs. This, I personally think is the most important aspect that needs to be understood. I think many buyers (especially first time home buyers) are truly unaware of the costs to repair and update a home that needs “work”. I also believe that many uneducated real estate agents do not properly/can not properly inform their clients of these costs. Too often I hear Realtors and prospective buyers looking at general fixers and foreclosures that need a good amount of “work” and saying comments such as “But if you get this at $650,000, then all you need to do is throw in $50,000 to $60,000 and you are done.” In reality this $50,000 to $60,000 is almost always $100,000 to $120,000, if not more, plus the added stress, plus carrying cost, plus enormous amounts of time etc.
- Foreclosures tend to sit vacant for periods of time and have been neglected which can lead to major maintenance issues.
- Sometimes foreclosure buyers themselves have to start eviction proceedings and pay legal fees to get the previous tenants/owners out of the home.
- Often foreclosures are bundled around other foreclosures and thus the neighborhood home values are very depressed and will take longer to rebuild.
- Etc.
I encourage anyone who has the interest in looking at foreclosures to do so. Just be educated and hopefully work with an agent that understands the realities of these properties as well as the true reality of costs to fix up homes that need “work”.
Further Reading:
- Any Luxury Homes in Foreclosure in Montecito CA?
- How is the Hope Ranch Real Estate Market Holding Up with Short Sales and Foreclosures?
- How to Find All the Goleta and Carpinteria CA Short Sale and Foreclosure Statistics
- Any Great Short Sale Opportunites in Santa Barbara and Goleta CA
- Strategies to Buying a Home in Foreclosure Here in Santa Barbara CA
- Potential Negatives to Buying Santa Barbara Homes in Foreclosure
- Any Great Deals on Homes in Foreclosure in Santa Barbara
- Search the Santa Barbara MLS and More
- Santa Barbara Real Estate Voice…Your Online Real Estate Resource
For information on Real Estate here in Santa Barbara, Montecito and/or our surrounding areas, as well as any other aspects of life in our area, please don’t hesitate to contact Kevin Schmidtchen at Sotheby’s Int’l Realty.
Thank you for reading. I hope you find Santa Barbara Real Estate Voice informative. Please feel free to contact me or comment below with any thoughts.
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The Top 10 Most Expensive Real Estate Sales in Montecito CA. in 2009.
Categories: Luxury Real Estate, Montecito
The coastal paradise of Montecito CA. seems to always find its place in the top 10 most expensive neighborhoods in the United States. It is not hard to argue with this based on the quality of life that it offers with the small village feel, gorgeous scenery, ocean views and coastal beaches, access to Santa Barbara etc.
In 2009, after a slower start to the year, there continued to be the buyer demand we have been used to for quality properties in Montecito and Santa Barbara in general. Although prices have dropped 20-35% from the peak a few years back, the top 10 MLS reported sales in Montecito still ended up being extremely impressive.
- Rockbridge Road, Montecito CA., 93108 and sold for $25,279,000. The highest sale within this luxury market was a majestic French Country estate located on 7 plus acres of stunning grounds, including 2 guest homes, the highest quality craftsmanship, lofty beamed ceilings, a gourmet kitchen, a pool, and much more.
- 2815 Cima del Mundo, Montecito CA., 93108, sold for $18,500,000. Newly constructed luxury estate located on roughly five acres, Don Nulty design, 12000+ sqft with huge ocean, harbor, mountain views, a pool, a pool cabana, a tennis court as well as a two bedroom guest house. An amazing estate property.
- 2549 Sycamore Canyon Road, Montecito CA., 93108, sold for $15,310,000. The majestic ”Val Verde” Estate located on roughly 17.4 acres. Gorgeous main residence with 2 guest homes, stunning lush grounds with reflecting pond, a seasonal creek, a pool, fountains and spectacular gardens.
- 1127 Hill Road, Montecito CA., 93108, sold for $11,000,000. Close to Butterfly Beach, this tropical style beach estate includes a newly completed main residence with good ocean & island views, a charming guest home and a pool with a pool house. Wonderful architectural elements throughout the home. Open floor plan that is great for entertaining with a gourmet kitchen as well as floor to ceiling sliding doors in the living area that bring the outdoors inside.
- 1144 East Mountain Drive, Montecito CA., 93108, sold for $9,560,000. Circa 1939 Edwards & Plunkett Monterey Colonial estate located on approximately 5.28 lush acres. A beautiful gated estate with incredible architectural elements, a spacious main home including 5 suites, a spectacular 3 bedroom guest home, a charming art studio, as well as a large 9-car garage. Spectacular grounds with ocean views, a tennis court, a pool, a spa, a brick courtyard, pergolas, rose gardens, putting greens and much more.
- 269 Las Entradas Drive, Montecito CA., 93108, sold for $9,000,000. A truly romantic residence located on a promontory knoll with over 2 acres of mature landscaping with a pool and a guest home. Wrap-around panoramic ocean, harbor and mountain views from the main residence. Newly remodeled with formal living and dining areas, a library, a spacious kitchen/family room all opening to view loggias, terraces and lush gardens.
- 1504 East Mountain Drive, Montecito CA., 93108, sold for $8,875,000. This ocean view villa was a wonderful treasure located next to the famous San Ysidro Ranch. Pool, spa, fountains, amazing ocean views, wine cellar and more.
- 1631 Posilipo Lane, Montecito CA., 93108, sold for $8,300,000. Truly On the Sand! A terrific beach location, this home sits on approximately .5 acres with 75′ of sand frontage. A true ‘best buy’, this property offers a fantastic opportunity to live in Montecito on the ocean.
- 798 Park Hill Lane, Montecito CA., 93108, sold for $8,200,000. ‘Villa Nova’ is a classical Tuscan estate of timeless design and elegance nestled high in the foothills of Montecito. This private residence with approximately 1.43 acres enjoys good ocean, island and mountain views in a prestigious location. Exquisite house with a guest casita and a pool.
- 735 Fuera Lane, Montecito CA., 93108, sold for $7,600,000. Architecturally historic 1920’s French Provincial estate lovingly remodeled blending modern amenities with charm of the past. This home is set in the foothills of Montecito on roughly 1.2 magical acres. Specimen gardens, a pool, 2 additional structures, a guest home, a cabana and more.
Further Reading:
- The Montecito Area
- Any Luxury Homes in Foreclosure in Montecito CA?
- Sotheby’s Int’l Realty Santa Barbara and Montecito CA
- Santa Barbara Market Statistics
- Santa Barbara Photo Tour
- Buyer’s Resources for the Santa Barbara area
- Seller’s Resources for the Santa Barbara area
For information on Real Estate here in Santa Barbara, Montecito and/or our surrounding areas, as well as any other aspects of life in our area, please don’t hesitate to contact Kevin Schmidtchen at Sotheby’s Int’l Realty.
Thank you for reading. I hope you find Santa Barbara Real Estate Voice informative. Please feel free to contact me or comment below with any thoughts.
Subscribe to Receive Personal Listings of Santa Barbara Real Estate
Search The Santa Barbara Area MLS
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25th Santa Barbara Film Festival (Silver Anniversary) February 4 - 14th, 2010
Categories: Lifestyle / Things to Do, Santa Barbara
Welcome once again to…Santa Barbara, CA. Celebrating its Silver Anniversary, The Santa Barbara International Film Festival presents a wonderful line-up for 2010 featuring 200 films that include World Premieres, U.S. Premieres and numerous films representing countries around the world.
The Festival chosen motto for this year is ‘11 Amazing Days, 10 Starry Nights.’
The excitement starts this Thursday, February 4th.
Thank you for reading. I hope you find Santa Barbara Real Estate Voice informative. Please feel free to contact me or comment below with any thoughts.
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Santa Barbara Real Estate Home Sales Statistics - The Mission Canyon Neighborhood Year End 2009
Categories: Market Statistics / Updates, Mission Canyon Neighborhood
Year to date, there were a total of 24 closed sales of single family homes in The Mission Canyon Neighborhood here in Santa Barbara CA.
The lowest sale in Mission Canyon was a bank-owned home located at 2668 Montrose Place, Santa Barbara CA., 93105. The sales price was $515,000.
The highest sale in Mission Canyon was a gorgeous view home on almost 9 acres located at 2931 Holly Road, Santa Barbara CA., 93105. The sales price was $1,960,000.
Overall, the market in Mission Canyon was fairly normal as far as activity the entire year. Prices now have fallen about 25-30% from the peak depending on the individual property. Outside of lower end condos and the luxury market, the overall Santa Barbara market has felt pretty stable here with prices and activity in the last 5 months.
If you would like a more complete update on The Mission Canyon market, specific information about the general neighborhood and/or any other areas within Santa Barbara, Montecito, Carpinteria, Goleta, Hope Ranch, Summerland, and/or The Santa Ynez Valley, please feel free to contact me.
Further Reading:
- The Mesa Neighborhood 2009 Sale Statistics
- The Riviera Neighborhood 2009 Sales Statistics
- Hope Ranch CA Real Estate Home Sales Statistics - 2009
- Montecito CA Real Estate Home Sales Statistics - 2009
- The Upper East Neighborhood
- Santa Barbara Market Statistics
- Santa Barbara Photo Tour
- Buyer’s Resources for the Santa Barbara area
- Seller’s Resources for the Santa Barbara area
For information on Real Estate here in Santa Barbara, Montecito and/or our surrounding areas, as well as any other aspects of life in our area, please don’t hesitate to contact Kevin Schmidtchen at Sotheby’s Int’l Realty.
Thank you for reading. I hope you find Santa Barbara Real Estate Voice informative. Please feel free to contact me or comment below with any thoughts.
Subscribe to Receive Personal Listings of Santa Barbara Real Estate
Search The Santa Barbara Area MLS
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Santa Barbara CA. Real Estate Home Sales Statistics - The Downtown Area Year End 2009
Categories: Downtown Neighborhood, Market Statistics / Updates
In 2009, there were a total of 47 closed sales of single family homes and condos in The Downtown area here in Santa Barbara CA.
The lowest sale in The Downtown area was a basic 1 bed 1 bath condo located at 1600 Garden Street #1, Santa Barbara CA., 93101. The sales price was $300,000.
The highest sale in The Downtown area was a luxury Penthouse loft located at 531 Chapala Street #G, Santa Barbara CA., 93101. The sales price was $4,175,000.
Overall, the market in The Downtown area was fairly normal as far as activity the entire year. Prices on average have come down around 25-35% from the peak depending on the individual property.
Outside of lower end condos and the luxury market, the overall Santa Barbara market has felt pretty stable here with prices and activity in the last 5 months.
If you would like a more complete update on The Downtown Neighborhood, specific information about the general area or other areas within Santa Barbara, Montecito, Carpinteria, Goleta, Hope Ranch, Summerland, and/or The Santa Ynez Valley, please feel free to contact me.
Further Reading:
- The Riviera Neighborhood
- The Upper East Neighborhood
- Santa Barbara Market Statistics
- Santa Barbara Photo Tour
- Buyer’s Resources for the Santa Barbara area
- Seller’s Resources for the Santa Barbara area
For information on Real Estate here in Santa Barbara, Montecito and/or our surrounding areas, as well as any other aspects of life in our area, please don’t hesitate to contact Kevin Schmidtchen at Sotheby’s Int’l Realty.
Thank you for reading. I hope you find Santa Barbara Real Estate Voice informative. Please feel free to contact me or comment below with any thoughts.
Subscribe to Receive Personal Listings of Santa Barbara Real Estate
Search The Santa Barbara Area MLS
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Santa Barbara CA. Real Estate Home Sales Statistics - Samarkand Area Year End 2009
Categories: Market Statistics / Updates, Samarkand Neighborhood
In 2009, there were a total of 9 closed sales of single family homes and condos in The Samarkand Neighborhood.
The lowest sale in The Samarkand Neighborhood was a 2 bed 1 bath cottage located at 2708 Vernon Road, Santa Barbara CA., 93105. The sales price was $570,000. This was probably one of the “better deal” we have seen in the last several months.
The highest sale in The Samarkand Neighborhood was a gorgeous estate located at 437 Wyola Road, Santa Barbara CA., 93105. The sales price was $1,100,000.
Overall, the market in Samarkand was a little slower than normal as far as activity the entire year. Prices on average have come down around 25-35% from the peak depending on the individual property. Currently there is a decent amount of demand for good valued homes in this area and not too much inventory.
Outside of lower end condos and the luxury market, the overall market has felt pretty stable here with prices and activity in the last 5 months.
If you would like a more complete update on The Samarkand Neighborhood, specific information about the general area or other areas within Santa Barbara, Montecito, Carpinteria, Goleta, Hope Ranch, Summerland, and/or The Santa Ynez Valley, please feel free to contact me.
Further Reading:
- The Mesa Neighborhood 2009 Sale Statistics
- The Riviera Neighborhood 2009 Sales Statistics
- Hope Ranch CA Real Estate Home Sales Statistics - 2009
- Montecito CA Real Estate Home Sales Statistics - 2009
- The Upper East Neighborhood
- Santa Barbara Market Statistics
- Santa Barbara Photo Tour
- Buyer’s Resources for the Santa Barbara area
- Seller’s Resources for the Santa Barbara area
For information on Real Estate here in Santa Barbara, Montecito and/or our surrounding areas, as well as any other aspects of life in our area, please don’t hesitate to contact Kevin Schmidtchen at Sotheby’s Int’l Realty.
Thank you for reading. I hope you find Santa Barbara Real Estate Voice informative. Please feel free to contact me or comment below with any thoughts.
Subscribe to Receive Personal Listings of Santa Barbara Real Estate
Search The Santa Barbara Area MLS
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Santa Barbara Real Estate Home Sales Statistics - The Westside Neighborhood Year End 2009
Categories: Market Statistics / Updates, The Westside Neighborhood
In 2009, there were a total of 52 closed sales of single family homes and condos on The Westside here in Santa Barbara CA.
The lowest sale on The Westside was a bank-owned complete fixer/tear down located at 1721 Chino Street, Santa Barbara CA., 93101. The sales price was $230,000.
The highest sale on The Westside was a multi-family investment opportunity located at 716 San Pascual, Santa Barbara CA., 93101. The sales price was $860,000.
Overall, the market on The Westside was pretty normal as far as activity the entire year. With the reality of the market, there seemed to be a lot of deals and lower sales in this side of Santa Barbara. Prices now have fallen about 25-30% from the peak depending on the individual property. Outside of lower end condos and the luxury market, the overall market has felt pretty stable here with prices and activity in the last 5 months.
If you would like a more complete update on The Westside market, specific information about the general neighborhood and/or any other areas within Santa Barbara, Montecito, Carpinteria, Goleta, Hope Ranch, Summerland, and/or The Santa Ynez Valley, please feel free to contact me.
Further Reading:
- The Mesa Neighborhood 2009 Sale Statistics
- The Riviera Neighborhood 2009 Sales Statistics
- Hope Ranch CA Real Estate Home Sales Statistics - 2009
- Montecito CA Real Estate Home Sales Statistics - 2009
- The Riviera Neighborhood
- The Upper East Neighborhood
- Santa Barbara Market Statistics
- Santa Barbara Photo Tour
- Buyer’s Resources for the Santa Barbara area
- Seller’s Resources for the Santa Barbara area
For information on Real Estate here in Santa Barbara, Montecito and/or our surrounding areas, as well as any other aspects of life in our area, please don’t hesitate to contact Kevin Schmidtchen at Sotheby’s Int’l Realty.
Thank you for reading. I hope you find Santa Barbara Real Estate Voice informative. Please feel free to contact me or comment below with any thoughts.
Subscribe to Receive Personal Listings of Santa Barbara Real Estate
Search The Santa Barbara Area MLS
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Santa Barbara CA. Real Estate Home Sales Statistics - The Campanil Hill / Yankee Farm Area Year End 2009
Categories: Campanil Hill Neighborhood, Market Statistics / Updates
In 2009, there were a total of 4 closed sales of single family homes in The Campanil Hill / Yankee Farm area here in Santa Barbara CA.
The lowest sale in The Campanil Hill area was a wonderful opportunity on just less than 2 acres located at 3354 Cliff Drive, Santa Barbara CA., 93109. The sales price was $1,247,000.
The highest sale in The Campanil Hill area was an expansive ocean view semi fixer located at 526 Sea Ranch Road, Santa Barbara CA., 93109. The sales price was $2,125,000.
Overall, the market in The Campanil Hill / Yankee Farm area was fairly normal as far as activity the entire year. Not too much tends to sell here each year. Prices on average have come down around 25-35% from the peak depending on the individual property. Currently and always there seems to be a decent amount of demand for good valued homes in this area. Outside of lower end condos and the luxury market, the overall market has felt pretty stable here with prices and activity in the last 5 months.
If you would like a more complete update on The Campanil Neighborhood, specific information about the general area or other areas within Santa Barbara, Montecito, Carpinteria, Goleta, Hope Ranch, Summerland, and/or The Santa Ynez Valley, please feel free to contact me.
Further Reading:
- The Mesa Neighborhood 2009 Sale Statistics
- The Riviera Neighborhood 2009 Sales Statistics
- Hope Ranch CA Real Estate Home Sales Statistics - 2009
- Montecito CA Real Estate Home Sales Statistics - 2009
- The Riviera Neighborhood
- The Upper East Neighborhood
- Santa Barbara Market Statistics
- Santa Barbara Photo Tour
- Buyer’s Resources for the Santa Barbara area
- Seller’s Resources for the Santa Barbara area
For information on Real Estate here in Santa Barbara, Montecito and/or our surrounding areas, as well as any other aspects of life in our area, please don’t hesitate to contact Kevin Schmidtchen at Sotheby’s Int’l Realty.
Thank you for reading. I hope you find Santa Barbara Real Estate Voice informative. Please feel free to contact me or comment below with any thoughts.
Subscribe to Receive Personal Listings of Santa Barbara Real Estate
Search The Santa Barbara Area MLS
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