Seller’s Resources & Advice
Its Official: $8,000 Home Buyer Tax Credit and New $6,500 Bonus Kicker Law to be Passed for 2010
Categories: Buyer's Resources & Advice, Seller's Resources & Advice
The Senate this week passed an extension of the $8,000 Home Buyer Tax Credit for new home buyers and added on as a “kicker” to the plan a $6,500 bonus for those who are buying a new home and have lived in their old home for 5 of the 8 previous years. From everything that we are hearing and reading, The House of Representatives is expected to pass this new bill and the White House has also given every indication that they will sign it once they receive it.
So what does it mean to us here in the Santa Barbara area?
Here are the details…
- First Time Home Buyers: This we have already learned and it is simply an extension of the $8,000 home buyer tax credit to contracts signed by April 30 and closed by June 30, 2010. As we all had read and heard, this bill was set to expire at the end of November 2009. To be considered a “First-time home buyer”, you technically are not to have owned a residence within the past three years.
- Current Existing Homeowners: $6,500 credit for those who buy a new home here in the coming months and have lived in your current house at least five of the last eight years.
- Time Line: Contracts signed by April 30, 2010 and closed by June 30, 2010.
- Home Requirement: Principal residences priced at $800,000 or less.
- Income Limits: Single $75K to $125,000, Joint filers $150K to $225,000.
Further Reading:
- $729,750 Conforming Loan Limit Extended into 2010
- What do Buyers and Sellers Want Most from Their Santa Barbara Realtor?
- Is Zillow’s Zestimate a Reliable Guide to your Santa Barbara Home’s Value?
- Working with a Blogging Realtor - Advantages
- Are Trulia and Zillow the Best Place to Search for Santa Barbara Real Estate?
- 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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$729,750 Conforming Loan Limit for Santa Barbara CA. Extended Through 2010
Categories: Buyer's Resources & Advice, Seller's Resources & Advice
As reported by the National Association of Realtors… 
Further Reading:
- What do Buyers and Sellers Want Most from Their Santa Barbara Realtor?
- Is Zillow’s Zestimate a Reliable Guide to your Santa Barbara Home’s Value?
- Working with a Blogging Realtor - Advantages
- Are Trulia and Zillow the Best Place to Search for Santa Barbara Real Estate?
- 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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Search The Santa Barbara Area MLS
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Santa Barbara Property - What Does $1 Million Buy You These Days? - Aug 2009
Categories: Buyer's Resources & Advice, Seller's Resources & Advice
As the Santa Barbara Real Estate market has showed many signs of stabilizing here in the last 3-5 months, the bonus for home buyers is that they are able to purchase a much nicer property for their $$ when compared to just 18-24 months ago. Most statistics that I have come across via articles as well as local MLS statistics show that the average home here in Santa Barbara is down about 15-25% (depending on exact area) from its peak in late 2006 / early 2007.
In the last 3- 5 months, most of our market up to the $2 Million price point has been very stable with a good amount of pending sales and numerous buyers out looking and purchasing. We are also seeing multiple offers on well priced homes as well as homes going pending within a few days.
Here below are a few examples of Santa Barbara property around $ 1 Million in The Upper East, San Roque and The Mesa neighborhoods as well as Goleta and Carpinteria.
1 - Upper East Gem on East Junipero Street - CA cottage, single level with 3 beds and 2 baths, high ceilings, remodeled kitchen including Maple cabinetry, high end appliances (Viking), and granite counters. Hardwood floors with formal dining room and living room. Fenced front yard, back patio and 2 car garage. Roosevelt school district. Well cared for home. Pending Sale, Asking Price $999,000.
View: Map of Home
2 - San Roque Charmer located on Toyon Drive - Mediterranean romance combined w/light filled, clean interiors in premier San Roque neighborhood. Spacious rooms, 3 beds 2 baths, large picture windows throughout w/gleaming hardwood floors, remodeled baths, air conditioning & many custom amenities. Charming flagstone & brick patios & courtyard, easy care lush landscaping. Close proximity to restaurants, shops & fun of the Upper State area. Very nice house at a good value. Well cared for home. Just Sold, $955,000.
View: Map of Home
3 - Mesa Remodel located on Balboa Drive - Fabulous Mesa remodel with family room addition in immaculate condition. Located on a quiet cul de sac off Medcliff. Very short distance to the beach and the Douglas Preserve. Show to your pickiest clients and you will not be disappointed. 3 beds, 2 baths. Just Sold, $950,000.
View: Map of Home
4 - Goleta Remodel located on Mateo Court - Spacious home with pool and numerous built-ins and upgrades. Granite counters, stainless appliances, large rooms with lots of storage inside & out, 4 beds and 2 baths. Open ceilings, wood floors, solid doors, skylights and new windows. Pride of ownership in a wonderful neighborhood. Just Sold, $1,026,000.
View: Map of Home
5 - Carpinteria New Construction on El Carro Lane - Newly constructed elegant single family home in Carpinteria, one of California’s most enchanting small beach towns. Upgraded/modern amenities throughout. Wood floors, granite, tile, crown molding, voluminous ceilings, Kitchen Aid appliances, 4 beds, 3 baths & more. Beautifully landscaped yards w/accent pavers & colored concrete driveway, patios, front porch & walkways. Just Sold, $1,050,000.
View: Map of Home
If you would like further information on any of these homes and/or similar homes, please be in touch via email or phone.
View: Current list of Santa Barbara, Carpinteria and Goleta homes from $750,000 to $1,250,000.
Further Reading:
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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What Do Buyers And Sellers Want Most From Their Santa Barbara Real Estate Agents?
Categories: Buyer's Resources & Advice, Seller's Resources & Advice
Your Local Santa Barbara MLS, Local Knowledge and Honesty
As access to MLS information has become more widely available to the public in the last few years, a large proportion of 
the real estate industry has become worried that the buying public would have no need for agents once they had this information. In reality, the major change that has occurred is that this has simply lead to a more educated client from the beginning. Great for everyone.
Remember…the MLS access, how to guides, computer generated stats on zip codes etc. tell the consumer nothing about closed sales, all pending sales, reasons homes sold quickly, what was included in the contract, history of a neighborhood/street, knowledge about the purchase process, knowledge about the specific areas of the local market etc.
Recent statistics show that 48 percent of all buyers indicated that their top reason for working with a hard working, educated and knowledgeable agent was to find the right home to purchase. I don’t see this changing.
Recent Statistics on Buyers Needs
The main areas in which buyers feel that the use of an agent is beneficial are:
- helping the buyer understand the purchase process
- pointing out unnoticed faults or features
- negotiating better terms
None of this can be accomplished by just looking at the Active Listings on any local MLS IDX site.
The characteristics that buyers and sellers feel that are the most valuable in their agent are:
- honesty and integrity (97 percent)
- knowledge of the purchase process (94 percent)
- responsiveness (93 percent)
- knowledge of the real estate market (92 percent)
- communication and negotiation skills (83 percent).
The allure of a featured Website/Blog
Buyers overwhelmingly noted in the statisitcs that photos (86 percent) in conjunction with quality detailed information (84 percent) were the most useful Web site features that they could ask for.
Further Reading:
- Working with a Blogging Realtor - Advantages
- 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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Search The Santa Barbara Area MLS
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When is the Best Time of the Year to Buy and / or Sell Santa Barbara Real Estate?
Categories: Buyer's Resources & Advice, Seller's Resources & Advice
As a Realtor here in Santa Barbara, I am often asked the question about the general cycle of Real Estate in Santa Barbara CA and thus…Is there a better time of they year to buy and sell….Is there a season?
Obviously if you are a buyer or seller, different times of they year might be better than others and different markets are better than others…thus many factors go into this complex decision beyond just the time of year. But…since enough clients seem to always ask some form of this question, I will try and break the Santa Barbara Real Estate Market down into a normal yearly cycle, although none of this is pure science if you will. It is simply a pattern that Santa Barbara seems to follow most years.
Additionally, most of this summary is a run down through the real estate market from the entry level price point up to about $3-4 million. From $3-4 million and above the market seems to move at its own steady pace throughout the year.
Yearly Cycle:
- From January through May of each year, we seem to build up inventory with more new listings taking place during this time than other parts of the year.
- From February through roughly June, buyers are very active and seem to buy up much of this inventory.
- Summertime seems to be a mixed bag each year with the amount of new listings as well as the amount of buyers.
- Mid September through Thanksgiving is also a busier time with sellers as well as buyers.
- December is always a mixed bag, but generally slower.
Month to Month Run Down:
- January - Slower with inventory starting to build. Most people just getting ready with all the new changes a new year brings
- February - Market picks up with both sellers and buyers
- March - Very active buyers and sellers
- April - Very active buyers and sellers
- May - Very active buyers and sellers
- June - Slower but steady as there are many changes with families and schools
- July - Decent market both buyers and sellers
- August - Slower market as many families are making changes, sending off kids to school, paying large summer bills
- September - Market picks up with both sellers and buyers
- October - Very active buyers and sellers
- November - Very active buyers and sellers until Thanksgiving
- December - Slower market but serious buyers
Within this basic breakdown, there are also many small markets taking place. One example is in the summer months where many parents are looking to purchase condos for their children to live in that are near Santa Barbara City College or UCSB. Sellers are doing the same as their children have graduated and moved on. Another example is The Mesa which really seems to draw buyers during the months of February through August as the weather is often gorgeous there during this time of the year and/or cooler as people fulfill their dreams of living close to the water.
Further Reading:
- Santa Barbara Market Statistics
- Santa Barbara Photo Tour
- Buyer’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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Is Zillow’s “Zestimate” a Reliable Guide to Your Santa Barbara Home’s True Value?
Categories: Buyer's Resources & Advice, Random Thoughts & Opinions, Seller's Resources & Advice
Over the last several years, the prolific amount of real estate information on the Internet has allowed the consumer to gather a lot of valuable
information on their own. Many of these tools have educated both buyers and sellers in whatever stage they might be in with regards to potentially buying or selling a home.
One popular tool that I have run into as well and that has been brought to my attention by several clients is “the evaluation tool” which allows homeowners to receive an “estimate” of their property’s value. The best known of these tools is probably the one at Zillow.com called a “Zestimate.”
I am almost always positive about all the information that is now in the hands of consumers, but I have to admit that I am not a huge fan of this “Zestimate.”
From everything I know, this tool only relies on what information is published out on the Internet. Zillow and other evaluation tools rely on static data in computer databases without any means of comparing the hundreds of factors that influence price.
I have typed in many addresses myself here in the Santa Barbara area into the “Zestimate” tool and I would say that on average, these prices vary by +/- 7.5 % and in many areas will vary up to 14% as even admitted by Zillow.com themselves.
To me this is not that helpful of a tool.
Many homes in Santa Barbara sell for between $750,000 and $2.5 Million. A “Zestimate” therefore will then quite often be off target by $100,000 to $250,000.
Unless information is published on the Internet, “Zestimates” have no knowledge about:
- Amount and quality of upgrades on the particular home
- Credits given during a past transaction that then represent comparables
- Individual setting of the home and potential views
- Neighborhood and neighbor issues and concerns
- Contingency sales that effect sale price of a particular past sale
- Seller and buyer’s personal situation for agreeing on a price
- Intricacies of neighborhood concerns, issues effecting subject property
- History of the subject home
- I could list another 10 items easily
If you are a home buyer here in the Santa Barbara area, a great strategy for countering the use of a “Zestimate” is to contact a hard working Santa Barbara real estate agent and get an “Exactimate” based on the knowledge of the market and each home in our area.
“Zestimates” are probably useful in many areas, but with regards to Santa Barbara real estate, I believe that you have to pay closer attention. Santa Barbara is not a town where homes are sold on price per square foot for example. All the time we will have homes on the same block that will look similar on the Internet but in reality represent a $200,000 price difference.
Further Reading:
- Is My Realtor a Santa Barbara Neighborhood Specialist?
- Selling Your Goleta Home in a Slower Market
- Looking for a Qualified and Ethical Real Estate Agent in Santa Barbara CA?
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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Low Cost Simple Ways to Get Your Carpinteria CA. Real Estate Ready for Sale
Categories: Carpinteria, Seller's Resources & Advice
Many things in life that we initially love tend to go out of style at some time. Our homes are not immune to this reality, even though we ourselves have grown accustomed to our space. We are sometimes blind to the lack of updating of our home, but if you are looking to sell your home, this lack of attention is very apparent to potential buyers.
Here is a list of some great, easy to do fixes to get your Carpinteria home ready for sale.
- New Paint. This is almost certainly the easiest and most low cost way to drastically change the appearance of your home. Use neutral colors as well to hopefully appease all buyers. Paint will 100% freshen up the feel of your home.
- Fresh Plants and Flowers. I often see that fresh landscape as well as indoor plants and flowers are and undervalued component of improving the look and feel of your home. Plants and flowers will add freshness, texture and warmth to almost any area of your house. Grouping plants with different heights can also add a dramatic effect.
- Rearrange Your Furniture. If you are looking to give new energy to a room, often just simply rearranging furniture will do the trick and open up space. Add mirrors as well to create a larger volume effect and often a more welcoming feel.
- Organize. Clutter happens to almost all of us. Make sure your home does not feel cluttered in any way. Create and atmosphere of space.
- Replace Small Items. New hardware, various handles, switch plates etc. are an easy way to freshen up a home and give it the feel that some remodeling has been done…but at a low cost to you. Toilet seats and fresh towels hanging in the bathroom and kitchen are also great tools to energizing your home.
- Lights. Lights are mood setters and create a feel of coziness. Try and have well placed lamps throughout the home instead of one large overhead light for a particular room. Dimmers are also a great addition and cost effective.
- Clean. Nothing is a bigger turn off than a dirty home. Hire a professional to come in and clean the entire home, windows, eaves, floors and especially the kitchen and bathroom(s).
- Selling Your Goleta Home in a Slower Market
- Looking for a Qualified and Ethical Real Estate Agent in Santa Barbara CA?
- 5 Ways to Increase the Chance of Selling Your Santa Barbara Home in Today’s Market
- Do Open Houses Work in the Santa Barbara and Montecito Areas?
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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Top 20 Most Popular Real Estate Related Websites
Categories: Buyer's Resources & Advice, Seller's Resources & Advice
Hitwise.com, a hugely reputable company that monitors traffic on the web for each website out there just came out with their list of the most visited real estate related websites. The Hitwise rankings system is based on the market share of visits to real estate related websites among the company’s own personal sample of 10 million U.S. Internet users.
Realtor.com has remained at the top spot with roughly a 6.7% share of the market, although Realtor.com itself is not widely know outside of the US market. Yahoo Real Estate remained in second place with roughly a 3.3% market share which is down from its position of about 4.2% of market share. Zillow is now third with just under 3% of market share.
All of these sites are useful and have their own allure for each individual. If you are a buyer for example, I think some of the portal sites such as Yahoo Real Estate, Zillow.com and Trulia.com are great places to start to get an overview of the market and the areas you are interested in. To get precise information on a city, schools and its neighborhoods, local perspectives and true values of individual homes, the next move is to still then contact a local Realtor that is ethical and on top of the market. Hopefully someone with an updated website or blog that is constantly providing new and useful perspective, tools and information to consumers.
Further Reading:
- Santa Barbara Real Estate News
- Santa Barbara Market Statistics
- Tips for Canadians Looking to Buy Real Estate in California
- Santa Barbara Luxury Real Estate
- Santa Barbara Oceanfront Areas
For information on Santa Barbara Real Estate, Montecito Real Estate 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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Selling Your Goleta CA. Home in a Slower Market? - 10 Things You Should Consider
Categories: Goleta, Seller's Resources & Advice
After the run up in Real Estate from 1998 to early 2007, Goleta sellers find themselves now in a position where they better make their home attractive to buyers if they want to sell. Buyers have choices these days to say the least and most importantly they do not feel rushed.
1. Make a lasting and powerful first impression
Try and make your home memorable in some way. Home buying is an emotional time, with often buyers making true decisions in the first 5 minutes of seeing a home. The curb appeal and front entrance should be inviting and fresh. Your home from the outside needs to invite the buyer into truly wanting to see the rest of the home.
2. Clean and then clean some more
This is something that obviously can not be overlooked. Buyers will especially look at the kitchen and bathrooms with the most critical eye. This means that if grout for example looks dirty, then get it redone. Steam clean the carpets and rugs (if any). If buyers have any feeling that the home needs to be cleaned in today’s market, you have lost them most likely…or at a minimum you have lost money as a potential starting offer price. Simply stated, a clean home looks taken care of and does not give the impression that there might be hidden issues. Always hire a professional cleaning service at least for the first several weeks your home is listed.
3. Remove “Junk”
Clutter is up there as one of the hardest issues for buyers to overcome upon a first impression. Get all personal items and most all pictures packed and stored. We all love our children, but the art work on the refrigerator needs to take a back seat. The potential buyer needs to be able to view themselves living in the home and this is difficult if all they see is your family.
4. Store big furniture items
Grandma’s chair, too many couches and random antiques should be packed up and stored. Basically remove any furniture that is not absolutely serving the purpose of making your home look light, fresh and spacious.
5. Let there be natural light
Open the curtains, blinds and shades and have natural light do its job! Your privacy might be important, but you are trying to sell your home and some level of privacy needs to simply disappear during this time. Many buyers also like to turn off all lights in the home upon viewing to see where the natural light will enter the home.
6. Neutral colors
If it has been years since you painted, then touch up with some neutral colors that are clean and have an upbeat feel. If you have artwork, it should hopefully match your decor tastefully.
7. Set the stage
Have center pieces such as fresh flowers put in a few key locations. If you have shabby furniture, you might think about staging.
8. Empty out closets and cabinets
This is another huge point. On the top of many people’s lists when looking for a home are storage and closet space, especially if it is a family home. Think of emptying your closet to just about a week’s worth of clothes to add space. Kitchen cabinets, bookcases and entertainment centers should also be addressed and emptied. We all tend to collect too much and so the new buyer will need to feel that there is space to store their treasured items.
9. Pets - bye bye
Not everyone is a pet lover and if fact, if a buyer walks in who does not care for pets and can see evidence of Fido, you have started out on the wrong foot. Find a friend, relative or neighbor to help you with keeping pets out of the home. If this is extremely difficult, then at least take them with you when you are having the home shown or an open house. Litter boxes and backyard landmines are not good impressions except for the “diehard” pet lover.
10. Smells good
Smells are very important and the one your home needs to have is Freshness. Air out your home as much as you can. If you are a smoker, you would want to seriously think about putting in new carpet and paint before selling.
Lastly…some of these efforts might cost you in the $5,000 to $15,000 range, but believe me if you choose not to do them you will most likely be losing anywhere from $25,000 plus on the selling price of your home.
Further Reading: 5 Ways to Increase the Chances of Selling Your Santa Barbara Home in Today’s Market, Is My Realtor a Santa Barbara Neighborhood Specialist in My Area?, 5 Crucial Tips to Have Your Santa Barbara Home Ready For Sale in a Slow Market
For information on Santa Barbara Real Estate, Goleta Real Estate 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 Area Properties
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Looking for a Qualified and Ethical Real Estate Agent in Santa Barbara California?
Categories: Buyer's Resources & Advice, Seller's Resources & Advice
With all the information out there in the online marketplace, finding a well qualified and knowledgeable real estate agent can be difficult. If you are local to Santa Barbara, a referral from a friend or colleague is a great place to start. I personally would then research information online about the agent to learn about them, how they work, as well as their online presence which is so important in today’s real estate market. Then you can decide if this person is a good match or if you should look further.
If you live out of town and are searching for a home here in Santa Barbara CA., it can be that much more challenging to find the right agent to work with.
With that said, let me take the opportunity to gain your trust as a professional and qualified Santa Barbara Real Estate Agent.
I have now been a real estate agent here in Santa Barbara since 2001 and work for Sotheby’s Int’l Realty. I am also a native to Santa Barbara and know our town extremely well. With so many people starting their search for real estate information online in the last few years, I made a commitment to blogging which thus provides people with information and tools to learn about our community and real estate in the Santa Barbara CA., Montecito CA., and surrounding areas. For me, this is one of the best ways to gain immediate trust of potential clients. Through my blogging, I feel that you can learn about me personally, how I work as a professional and how well I know the real estate market here in the Santa Barbara area.
Additionally, I have chosen to be a Realtor at Sotheby’s Int’l Realty because of its tradition of high level real estate service and its brand and name recognition.
If you have any real estate needs in our area, I would be happy to touch base and talk about your situation. I look forward to the opportunity to work with you.
I hope you find Santa Barbara Real Estate Voice informative. Please feel free to contact me or comment below with any thoughts. Please feel free to view testimonials as well as to browse my site to learn about our area.
Further Reading:
- Santa Barbara Homes for Sale with a Good WalkScore
- Little Known Advantages of Blogging Realtors in Santa Barbara and Montecito
- Is My Realtor a Santa Barbara Neighborhood Specialist in My Area?
- The New Expansion of Luxury Townhomes and Condos in Downtown Santa Barbara CA.
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Search the Santa Barbara Area MLS
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