Santa Barbara Real Estate Market Update for the Goleta Area - First 6 Months 2008
Categories: Goleta, Market Statistics / Updates
I have summarized below an easy to look at brief outline of the overall statistics for the Goleta CA area through the first 6 months of 2008.
- The total number of single family homes sold in Goleta was 113. The number of current pending sales for single family homes is 30. The number of current active listings for single family homes is 110.
- The total number of condos / townhomes sold in Goleta was 45. The number of current pending sales for condos / townhomes is 13. The number of current active listings for condos / townhomes is 60.
- The total number of PUD’s sold in Goleta was 7. The number of current pending sales for PUD’s is 0. The number of current active listings for PUD’s is 4.
The lowest sale in Goleta was a single level condo for $265,000 on Dearborn Place. The highest sale in Goleta was a home on 10 acres for $3.74 Million on Glen Annie Road.
Please feel free to contact me directly if you have questions or would like more in depth information and statistics about:
1) The Goleta area
2) The area around your personal home
3) A specific area, street or home in Goleta
Further Reading: Overall Market Statistics for the Santa Barbara area, Market Statistics for the Goleta area
Kevin Schmidtchen - 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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Are $5 Gas prices effecting Santa Barbara CA Realtors and/or their clients?
Categories: Real Estate News, Santa Barbara
Everyone has been talking about the continuing rise in gas prices we have experienced here in the first 6 months of 2008. If you are not one of us, then you are on a wonderful extended vacation somewhere abroad…hope you are having a great time!!!
In California, with our higher taxes on gas and higher costs of producing cleaner fuel, we see some of the highest prices in the entire country. So where does this put Realtors here in the Santa Barbara area who depend on their vehicles every day as part of their job to look at the inventory and to drive clients around.
Additionally, what are potential buyers thinking with regards to these higher prices?
Here are some observations that I have noticed here in 2008.
1) Carpooling - More and more I am seeing 2, 3 and even 4 Realtors sharing a car to go “caravanning” to look at the new inventory that comes out every week. This is obviously a good thing and will continue as far as I can see.
2) Combining Trips - Realtors seem to be combining trips a lot more than the past. Dropping off that document to an agent in Montecito on Tuesday can wait until Wednesday when Montecito’s caravan takes place. I also hear Realtors talking about combining errands and not making that drive for just one particular errand. Personally, I fit in this category a lot these days and just think it is smart.
3) Staying Local - Santa Barbara Real Estate Agents who were working with buyers and/or sellers on property in the extended areas such as Ventura or Lompoc are deciding to refer this business out. Additionally, buyers that were contemplating commuting from these extended areas are looking harder at their options to live local. You can search the Internet these days and find several articles talking about these specific economics.
4) Real Buyers - Santa Barbara Realtors are not just hopping in the car with a buyer they don’t know much about. Most experienced agents are “qualifying” their buyers a lot more to try and determine whether this will lead to a sale or just a lot of waisted time and waisted costly gas.
5) The Ego Car - More and more hybrids and smaller cars are showing up at the office instead of the BMW’s and Lexus’ etc. The Prius in and of itself has seemed to pop up a lot more. I myself am looking to purchase a new car here in the coming year and my wife and I are looking at all options with most of them being a smaller more fuel efficient car.
What you can Do ??- If you are in the market right now for real estate and yourself do not want to be driving around all over to look at property, I would recommend spending a lot of time doing research online to look at property. You can sign up here to look at all new listings that meet only your specific needs such as price, beds, baths, area etc. Additionally, you can search the entire Santa Barbara MLS if you are wanting to simply browse the entire market on your own. If you are wanting to know about past sales to study the specific market you are hoping to purchase or sell in, contact me and I can send you a list. Good luck!!!
Kevin Schmidtchen - 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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Cort Report for Santa Barbara, Montecito, Goleta and Carpinteria CA. Areas - May 2008
Categories: Market Statistics / Updates
Here is the Santa Barbara cort report for closed sales for the month of May 2008. The cort report lists all closed sales of property regardless of whether they were reported in the Santa Barbara MLS or not. This includes for sale by owners, transfers of property between family members etc. Upwards of 95+ % of all sales are reported in the MLS, where as 100% are reported in the cort report.
If you would like further info about a certain month or area, please let me know so that I can be of help.
Further Reading: Cort Report April 2008, Market Statistics and Reports for the Year 2008
Kevin Schmidtchen - 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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Little Known Advantages of Blogging Realtors - Santa Barbara and Montecito CA.
Categories: Buyer's Resources, First-time Home Buyers, Real Estate News, Seller's Resources
A few years ago blogging was almost an unknown in the real estate business. Here and there a few Realtors and other real estate professionals were blogging, but not to the extent that is seen today. In the Santa Barbara and Montecito CA areas, there is currently very little blogging done by Realtors.
To me this is very interesting since the use of the Internet continues to expand as THE MAIN TOOL (an often the main starting point) for buyers and sellers to search for homes, gather information about areas, learn real estate tips and meet potential real estate agents.
For most buyers and sellers, I feel that working with a Realtor who blogs and blogs regularly (say 2-3 times per week) gives them many advantages.
Advantages for a buyer or seller of working with a Realtor who Blogs!!!
#1 - You as the consumer get to know the real estate agent and get to establish a rapport with them even before you meet them personally. Through their blogging, a buyer or seller will learn about an agent’s values, their style, their knowledge, their interests etc. Ultimately the consumer can then decide if they are someone they trust to help in achieving their real estate goals. There will be a definite comfort level achieved before you even begin.
#2 - You gain a definite insight into what the Realtor actually knows about their particular role in the real estate market they are in. Are they writing about short sales and foreclosures…if not, then most likely they don’t know much about them. Are they writing about oceanfront property and high-end property…if so, then most likely they do know about this market. No one knows everything about their particular business, but what they do know they tend to write about.
#3 - You will learn if the Realtor is an expert is your neighborhood of interest. If they have never written about Santa Barbara neighborhoods such as The Mesa, San Roque, Downtown, Oceanfront in Montecito, view homes and so on, then most likely they are not comfortable with those areas or markets for whatever reason. A Santa Barbara Realtor that blogs about certain areas demonstrates their knowledge of the area.
#4 - Does the Realtor cite facts and figures to support their points that they are making? Are other posts and websites they refer to in their own posts helpful as well? If this is all done clearly and of help, then the Realtor is taking their time to do their research. A definite criteria that any good Realtor should have.
#5 - The presence that a Realtor has online is extremely important these days with the Internet becoming THE MAIN TOOL in researching real estate. If you are looking for an agent to help you sell your home, make 100% sure that they have a good Internet presence and knowledge of how to market your property online. If you Google them for example, will they show up all over the place or are they hidden on the Web? If they are hidden, then most likely any online presence of your home being sold will also be hidden. If they are everywhere, then most likely your home will have a very good online presence.
#6 - Is their writing clear and precise. If so, then most likely your transaction with them will be smooth with good communication. This is obviously very important during any transaction. Through well thought out good writing you can learn how a Realtor thinks and communicates.
#7 - Lastly, a huge advantage of working with an agent that blogs is that you can learn about their character. Are they ethical and professional? Do they seem to have integrity and your interests at heart? Are they responsible, knowledgeable, likable and do they communicate clearly? You will learn about many advantages that a Realtor can bring to you as a client and into a transaction through their blogging.
As an active Real Estate Agent and Real Estate Blogger here in the Santa Barbara and Montecito CA areas, I feel that I am enabling the consumer with better transparency of information. I believe that the quality of the information is also extremely important. I also believe that by blogging I am more consumer focused and therefore a better Santa Barbara Realtor.
Kevin Schmidtchen - 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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5 Ways to Increase the Chances of Selling Your Santa Barbara Home in Today’s Market
Categories: Santa Barbara, Seller's Resources
If you are in a situation where you need to think about selling your Santa Barbara home in today’s market, here are 5 rules I think that could be of help.
1) Be honest with your price. The most common mistake in a down market is to set your price based on yesterday’s market. Generally the first batch of buyers you get in the first 10 days will tend to pay the best price. If you don’t attract any of them, you are potentially in for a long haul with a slower market. If there is a lot of inventory in your area then you need to create a buzz. If you end up not getting an offer in the first 2-3 weeks and you feel that it is because of price, do a large price reduction instead of setting out on a path of baby steps in price reductions.
2) Use a qualified realtor. Doing things on your own such as a FSBO is very hard in a slower market. You will have to work a lot harder than you can imagine to market your home these days. Also, hire a Realtor with some experience and not someone who just got into the business. You should use an agent with a track record in a slower market.
3) Stage your home to sell. Get rid of clutter, pictures of grandparents and your latest trip to the sea and sand. Create glam and a focal point in each room. Paint your home with a fresh coat and choose neutral colors as well as spacious colors.
4) Offer incentives for the buyer. We know about all the issues with financing these days. There are also plenty of horror stories for well qualified people. Make your home more affordable for a first-time buyer with offering to pay all closing costs for example. A $3,000 hit at close of escrow looks a lot nicer than no one knocking on the door and then having to contemplate a $35,000 price reduction.
5) If you are under water on your mortgage, look for options. If a family issue or a job is compelling you to move, you don’t have a ton of options. If it is a job for example, then ask your new employer to help with your loan and sale. Another option is to become a landlord. Our rental market in Santa Barbara is strong and maybe the best option is to wait out the slump as a landlord.
Further Reading: Do Open Houses Work in the Santa Barbara and Montecito Areas, 5 Crucial Tips to Have Your Santa Barbara Home Ready for Sale in a Slow Market
Kevin Schmidtchen - 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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Is My Realtor a Santa Barbara Neighborhood Specialist in My Area?
Categories: Buyer's Resources, First-time Home Buyers, Seller's Resources
Sometimes buyers and sellers will hire a real estate agent who works outside of an area because of friendship or thinking they could save money since this Realtor will give them a “kick-back” on their commission. From my experience, working with an agent who does not have intimate knowledge of the neighborhood you are looking to buy or sell in can hurt you in many ways…financially speaking. Therefore, if you choose to want to work with someone you know who does not know your area well, have them team up with a Realtor who does know the area.
Here is a sample list of some crucial information that a Santa Barbara neighborhood specialist will undoubtedly know, whereas an out-of-area real estate agent most likely will not:
- The history of the neighborhood and the homes, who lived where, when etc.
- Which homes were previously sold outside of the MLS, FSBO etc.
- What makes certain homes on a street worth more than the other homes
- Which streets in each neighborhood are considered more desirable than others
- Neighborhood nuisances such as loud pets, traffic etc. and their influence on value
- How to accurately price certain homes to determine specific values
- Which agents tend to take listings at market and who takes overpriced listings and for what reasons
- Listing agent’s individual reputations and how to negotiate and work with these agents
- Pending legislation, assessments or neighborhood changes and regulations
- How to potentially get inside information out of a listing agent because they know how a certain agent works
- New inventory that is not yet on the market but will be coming…or sellers that would sell if an offer was brought to them
Further Reading: The 2 Major Steps in Buying a Home in Santa Barbara CA
Kevin Schmidtchen - 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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Summer Art, Festivals and Culture in Santa Barbara CA!!!
Categories: Community Events, Lifestyle / Things to Do
One of the amazing luxuries of living in Santa Barbara is the amount of culture and art that exists here. As the summer approaches for 2008, I wanted to point out a few of my favorite cultural highlights that I think should not be missed.
Music Acadamy of the West is a wonderful venue to see live orchestra and intimate concerts. The Music Academy of the West has been recognized “as one of the world’s preeminent summer music programs for gifted pre-professional classical musicians.” Their festivities kick off June 23rd.
The Lobero is a great venue to see live performing arts including music, dance and theatre. The Lobero Theatre is a huge asset to our community as a place for performing arts.
The Santa Barbara Bowl has been a major stop on the circuit for all musicians and for many of them it is one of the top 2 small venues in the entire country to perform. It is the largest outdoor amphitheater in Santa Barbara with around a capacity of 4500. Festivities kick off in June with upcoming acts such as Robert Plant, James Taylor, The Gipsy Kings and more.
Nights is a cultural stop at the Santa Barbara Museum of Art one night a month. Live music and performances, art exhibits and activities and multi-sensory delights. Upcoming Dates are June 19th, July 17th, August 21 and September 18.
First Thursday is a new and very enjoyable program highlighting downtown arts, entertainment and culture on the first Thursday of each month from 5-8 p.m. You can collect a venue map at most all locations. Stroll with friends from location to location for a wonderful night out to enjoy free access to art in a fun and social environment.
Further Reading: Treat Your Kitchen’s Home to Food from The Santa Barbara Farmer’s Market, The Secret of The Santa Barbara Channel Islands, Looking for an Active Vacation in The Beach Town of Santa Barbara?
Kevin Schmidtchen - 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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