Kevin Schmidtchen

Berkshire Hathaway
Home Services
1255 Coast Village
Suite 102B
Montecito, CA 93108
Phone or Text

(805) 689-6877

Foreclosures & Bank Owned

Foreclosures and Short Sales in The Santa Barbara Real Estate Market…2015

Santa Barbara Real Estate Voice Here and there I am still asked by potential buyers, certain clients and/or in just basic conversation about the short sale and REO/Foreclosure market in the Santa Barbara area...Santa Barbara, Goleta, Carpinteria, Montecito, Summerland, Hope Ranch. The questions all seem to have the same theme of whether we see anymore distressed sales in our area or not. The reality is is that there really is no longer per say a "market" anymore for distressed real estate in our area.  As the overall real estate market has recovered during the last 3 years, what I have heard... Continue Reading >

2015 Where Is The Santa Barbara Real Estate Market Heading?

Santa Barbara Real Estate Voice The true answer is that no one truly knows...but here are my thoughts. Based on where we have been the last few years and the types of sales (thus buyers) that are going on, I am going to make some general points and give an educated guess as to where we might be in the coming year. Although we have seen substantial price gains over the last 2 1/2 years, the real estate market here in Santa Barbara has a very different feel than in the run-up from 2001 to 2007.  A much... Continue Reading >

Where Have The Foreclosures Gone in Santa Barbara?

Santa Barbara Real Estate Voice Compared to many other towns across California, Santa Barbara's real estate market has held up (or recovered) pretty well since the market "crashed" in 2007.  After dropping roughly 50% from peak prices, our real estate market has rebounded on average about 22-25% across the board.  In the last 16 months, the market has been incredibly strong across all price points with a huge buyer demand. One main reason for this spike in our market has been the limited inventory...and part of this has been the reality that there are not many... Continue Reading >

Are Bank Owned Sales Prevalent in Montecito? August 2011 Update

Santa Barbara Real Estate Voice Here are the latest statistics for real estate sales in Montecito for August 2011.  The shaded area with an ‘X’ states whether the property was a bank owned (REO) sale or not.  Although many people would love to find bank owned foreclosure properties in Montecito, the reality is that almost all of the sales are still traditional sales in Montecito.  Additionally, most of the REO’s tend to be at the lower end of the price scale.   View: Santa Barbara / Montecito Real Estate $1-3 Million View: Santa Barbara / Montecito Real Estate $3-5 Million View: Santa... Continue Reading >

What Part of the Santa Barbara Real Estate Market Sees the Most Foreclosures and Short Sales?

Santa Barbara Real Estate Voice Since the peak of our real estate market in 2007 and 2008 (Montecito until 2008), property values have fallen on average here in Santa Barbara around 35-38%.  Certain unique homes have fallen somewhat less in value, while certainly other pockets of the market have fallen more in value upwards of around 40-45%. Because of this reality, many people have unfortunately lost all their equity in their homes and have had to go the route of foreclosing on their homes or trying to sell their homes as short sales. Often I am asked... Continue Reading >

What are The Most Crucial Components when Buying a Short Sale or Foreclosure here in Goleta, Santa Barbara and Carpinteria?

Santa Barbara Real Estate Voice The obvious lure from a buyer's perspective of both short sales and REO (real estate owned) properties is the chance to get a property at a discounted price. Here in Carpinteria, Goleta and Santa Barbara, this opportunity does exists, but not without its pitfalls.  The best way to deal with these pitfalls is to get educated about the most common "issues/nightmares" that come with these deals.  Although there are many factors to consider...the biggest for most tends to be TIME. TIME -  The most crucial asset we have in life.  When dealing... Continue Reading >

Where do I Find The Least Expensive Real Estate in Santa Barbara CA?

Santa Barbara Real Estate Voice A few times a month I am contacted by people (especially from out of town) who are interested in the most affordable areas of real estate here in the Santa Barbara area.  Most often these people are very aware of the higher real estate prices here in our town and are expecting the prices to be what they area...but this is not always the case. To us that live here, real estate prices are high, but we do understand the quality of life that Santa Barbara offers.  We understand that when... Continue Reading >