Santa Barbara
From wooded hills and magnificent estates to the laid back beaches, Santa Barbara’s renowned beauty is more than skin deep. Active, community-minded residents have shaped this metropolitan area into a well-rounded, multifaceted gem of a place for the discriminating person to live and work, many who are convinced they live in paradise.
Known as “The American Riviera,” the mix of so many cultures and people with world travel under their belts makes for an exciting mix of life. Opportunities abound in Santa Barbara to enjoy a life tailored to families as well as the individual’s needs. There is quality shopping, over 400 fine restaurants, numerous cultural activities, countless active outdoor pursuits, top educational institutions such as the University of California, and a small local airport to shoot you off to wherever you may need to go…while counting the days until you return. Yes, the climate here is wonderful.
Early on, Santa Barbara’s soothing climate provided a prime stomping ground for the Chumash Indians. They were followed by the Portuguese, Spaniards and Franciscans, who later left their stamp with the beautiful Mission Santa Ines in Solvang, La Purisma Mission State Historic Park in Lompoc (one of the most complete and authentic missions standing) and the Queen of the Missions, Mission Santa Barbara. Mexico stepped in for 24 years before Colonel John Fremont crowned Santa Barbara a U.S. territory in 1846.
In the early 1900s, Santa Barbara became the film capital of the world before the motion picture industry centralized in Hollywood. Morethan 1,200 movies (mostly Westerns) were made in a 10-year span and Santa Barbara became a favorite retreat for such legendary film stars as Douglas Fairbanks, Mary Pickford and Charlie Chaplin.
The area soon evolved into a haven for wealthy Easterners and a hot spot for health-seekers lured by the city’s curing mineral baths. At the turn of the century, luxury rail cars turned out the Rockefellers, Vanderbilts, Carnegies and Duponts, followed by an artistic swell of painters, poets and authors.
Today, Santa Barbara proper is home to some 95,000 residents and still exudes the warmth and relaxation of a small city, coupled with the major attractions of a metropolis. Many of the buildings, homes and estates built in Santa Barbara have a Spanish-Mediterranean architecture and are located anywhere from the relaxed pristine coastline to the foothills.
Pedestrian-friendly with roughly 76 designated historic landmarks, an impressive line-up of performing arts venues, museums, galleries and restaurants, the area is an excellent vacation destination, especially from the California hubs of Los Angeles (92 miles south) and San Francisco (332 miles north).
Santa Barbara’s unique neighborhoods vary in size, topography and real estate values, all with their own unique characteristics.
Santa Barbara Real Estate values vary based on areas, but average around $ 500,000 to $ 3 million. Spectacular view homes, estates and ocean front property start at around $ 1.5 million and can exceed this amount fivefold, tenfold or more..
If you are interested in real estate here in Santa Barbara, Montecito and our surrounding areas, as well as any other aspects of life here, please don’t hesitate to contact Kevin Schmidtchen at Sotheby’s Int’l Realty.
Read About: Santa Barbara’s Oceanfront Areas
Search: Properties in Santa Barbara
Receive: Personal Listings of Santa Barbara Properties
Read: Testimonials
View: Map of Santa Barbara Area
View: Photo Tour of Santa Barbara
Read About Individual Santa Barbara Neighborhoods and Schools:
Downtown, The Mesa, The Westside, Mission Canyon, San Roque, Samarkand,
The Riviera, The Upper East, Campanil Hill and Yankee Farm, The Oceanfront
To Continue Reading Updated Articles About Santa Barbara Scroll Down
Santa Barbara CA Jesusita Fire Update, 80 Confirmed Homes Burned - Saturday May 9th
May 9th, 2009 Categories: Goleta, Mission Canyon Neighborhood, San Roque Neighborhood, Santa Barbara
After several relentless and stressful days of extreme heat, wind and fire, Santa Barbara is finally getting a break from the weather. With day time temperatures around 100 degrees and overnight temperatures hovering in the 80 degree range the last 4 days as well as wind gusts up to 50-70 miles an hour, this mornings heavy marine layer, calmer winds and 58 degree weather is a blessing.
Everyone one I seem to talk with expresses their appreciation with the job the fire fighters have been doing with the evacuation, keeping everyone safe and protecting as much Santa Barbara property as possible. THANK YOU.
Here are some current statistics and photos as of early this morning reported by local news sources:
Fire Status:
•8,700 acres burned
•30% contained
•Damage assessment in progress – initial estimate of 80 homes have been damaged or destroyed
•Approximately 12,204 properties evacuated (mandatory evacuation orders); affects approx. 30,500 people
•More than 11,524 properties under evacuation warning; approx. 29,000 people affected
•Residences threatened – 3,500; commercial properties threatened – 100
•3,455 personnel on scene: 428 engines, 78 crews
•14 air tankers and 15 helicopters
•11 firefighter injuries to date
•Cause under investigation: Tip line – 805-686-5074
•Air quality warning remains in effect
•Estimated costs to date $3.2 million
As always, The Independent and KEYT.com have been doing a great job at coverage.
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, California receives “Distinctive Destination” Award
March 4th, 2009 Categories: Santa Barbara, Santa Barbara Architecture
Santa Barbara California’s beauty and quality of life are renown on a national and international scale. From the temperate climate and scenic coastline to the classic Spanish architecture and cultural events, there is much to offer locals and tourists on a daily basis.
Earlier this year, Santa Barbara CA. was affirmed once again as a terrific place when the National Trust for Historic Preservation (NTHP) publicly announced the city as one of its 2009 Distinctive Destinations. The award was accepted by Mayor Marty Blum and a plaque commemorating the honor was given to Santa Barbara. The ceremony was rightfully held in front of El Presidio de Santa Barbara State Historic Park.
“It was significant to have the awards ceremony at El Presidio, because this is where the town began in 1782,” stated Jerry Jackman, the current director of the Santa Barbara Trust for Historic Preservation. “The Presidio represents the Spanish Mission style that the city was built upon.” The combination of this classic architectural Santa Barbara style (a blend of Spanish, Moorish, Portuguese, and American Indian influences), the numerous outdoor activities available to visitors and our community’s long-standing commitment to preserving its heritage were all part of the criteria and reasons for Santa Barbara receiving this award.
Other cities also awarded this year include Athens, Georgia; Bristol, Rhode Island; Buffalo, New York; Franklin, Tennessee; Hot Springs, South Dakota; Lake Geneva, Wisconsin; Santa Fe, New Mexico
Anthony Veerkamp, a West Coast representative for The NTHP organization has stated that they created this award originally to honor towns and cities “where preservation has been part of development — places that are off the beaten track that give visitors a distinctive experience.”
Santa Barbara is a community that has worked diligently over the decades to preserve its city. From the beauty of the downtown area to all the various styles that residential Santa Barbara Real Estate has to offer, Santa Barbara is a unique and special coastal city.
Further Reading:
- Things to Do in Santa Barbara - The Mission District
- Things to Do in Santa Barbara - The Downtown Area
- Santa Barbara Rated Among the Best Downtowns in California
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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Santa Barbara CA Real Estate - East of State Area Sales Statistics Year End 2008
February 4th, 2009 Categories: Market Statistics / Updates, Santa Barbara
Santa Barbara Real Estate for the East of State Area - Year End Sales Statistics for 2008
I have summarized below an easy to look at brief outline of the overall Santa Barbara MLS statistics for both single family homes and condos in the East of State area for the year 2008. The comparisons are drawn against the previous year’s statistics (2007) for Santa Barbara Real Estate.
SINGLE FAMILY HOMES:
- Single family homes listings were down 14% from 507 listings to 436 listings compared to 2007
- Single family homes sold were down 20% from 246 to 196 single family homes sold
- The average sales price was down 4% from $1,405,816 to $1,337,989
- The median sales price was down 11% from $1,235,000 to $1,116,000
CONDOS:
- Condo listings were down about 16% from 161 listings to 134 listings compared to 2007
- Condos sold were down 40% from 92 condos to 55 condos
- The average sales price was down 25% from $955,923 to $711,025
- The median sales price was down 37% from $827,500 to $605,000
The lowest sale in the East of State area was a true fixer/contractor’s special for $375,000 on Carol Ave. The highest sale in the East of State area was an ocean view home for $4.1 Million on San Marcos Road.
View 2008 Sales of Specific Santa Barbara Neighborhoods (East of State):
View: Map of Santa Barbara
For a complete summary of the Santa Barbara Real Estate Market in 2008, information in general 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 International Realty.
Further Reading:
- Is My Realtor a Santa Barbara Neighborhood Specialist?
- Santa Barbara Real Estate Market Statistics
- Santa Barbara Real Estate - General News
- Santa Barbara - The Oceanfront Areas
- Santa Barbara - Community Events
- The Mission Canyon Neighborhood - Information and Statistics
- The San Roque Neighborhood - Information and Statistics
- The Upper East Neighborhood - Information and Statistics
- The Riviera Neighborhood - Information and Statistics
- The Downtown Neighborhood - Information and Statistics
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 CA Real Estate - West of State Area Sales Statistics Year End 2008
January 11th, 2009 Categories: Market Statistics / Updates, Santa Barbara
Santa Barbara Real Estate for the West of State Area - Year End Sales Statistics for 2008
I have summarized below an easy to look at brief outline of the overall Santa Barbara MLS statistics for both single family homes and condos in the West of State area for the year 2008. The comparisons are drawn against the previous year’s statistics (2007) for Santa Barbara Real Estate.
CONDOS:
- Condo listings were up about 1% from 167 listings to 170 listings compared to 2007
- Condos sold were down 15% from 76 condos to 64 condos
- The average sales price was down 17% from $750,982 to $620,623
- The median sales price was down 19% from $645,250 to $540,000
SINGLE FAMILY HOMES:
- Single family homes listings were down 15% from 353 listings to 299 listings compared to 2007
- Single family homes sold were down 30% from 199 to 139 single family homes sold
- The average sales price was down 12% from $1,178,433 to $1,034,819
- The median sales price was down 10% from $1,025,000 to $929,000
The lowest sale in the West of State area was a 1 bedroom condo for $315,000 on Richland Drive. The highest sale in the West of State area was an ocean front / bluff top home for $5 Million on Cliff Drive.
View 2008 Sales of Specific Santa Barbara Neighborhoods (West of State):
View: Map of Santa Barbara
For a complete summary of the Santa Barbara Real Estate Market in 2008, information in general 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 International Realty.
Further Reading: Is My Realtor a Santa Barbara Neighborhood Specialist?, Santa Barbara Real Estate Market Statistics, Santa Barbara Real Estate - General News, Santa Barbara - The Oceanfront Areas, Santa Barbara - Community Events, The Campanil Hill Neighborhood - Information and Statistics, The Samarkand Neighborhood - Information and Statistics, The Mesa Neighborhood - Information and Statistics, The Westside Neighborhood - Information and Statistics
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Montecito and Santa Barbara CA Tea Fire Update November 16th 2008
November 16th, 2008 Categories: Santa Barbara
It has been a long tough 3 days for the Santa Barbara and Montecito community, but it looks like the Tea Fire is finally contained. After a horrific first 24 hours of intense wind and fire starting Thursday at about 5:30 p.m., we have been fortunate to have mother nature cooperate the last 2 days. With almost no wind since midday Friday, the firefighters have been able to get the upper hand with the fire and almost all of it is contained as of tonight.
Sadly, the preliminary count of lost homes is around 130 in the city of Santa Barbara and around 80 in the Montecito and Foothill areas. Upwards of 2000 acres were burned and preliminary damage is estimated at around $500 Million.
For further information on the Tea Fire as it relates to structures lost, evacuations etc. go to The County of Santa Barbara Emergency Services.
Further Reading: Montecito and Santa Barbara Tea Fire Update November 15th, 2008, Photos of the Tea Fire
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.
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Montecito and Santa Barbara CA Tea Fire Update November 15th 2008
November 15th, 2008 Categories: Santa Barbara
Update: Saturday November 15th
Here is a quick update on what I know as of now regarding the fire that erupted over the last 2-3 days.
The fire started at about 5:45 p.m. on Thursday November 13th, 2008 with horrible dry winds up to 70 m.p.h. The location seems to have been just above East Mountain Drive behind Westmont College. We drove to the top of Via Alicia to view this and were simply amazed at how quickly it started to spread. The high winds made it completely uncontrollable for the first 20 hours.
At first the fire spread toward the city, down through Sycamore Cyn (the same place as another major fire in 1977) and up the back side of the Riviera. Luckily the winds subsided and the fire never made it to the downtown area. As the winds shifted the fire spread up the backside of the Riviera near Las Alturas where several homes were lost. Then the fire quickly went through the back foothills across Parma Park, up over to Gibraltar Road where it skipped across the canyon and then down into Rattlesnake Canyon. As of now, the western edge of the fire seems to have stopped around parts of El Cielito, Las Canoas and Gibraltar Road. It still is burning in random spots and no one is certain about the exact boundaries, especially over closer to the Montecito area.
Up to now there are reports of about 2000 acres burned and about 100-200 homes. Luckily the winds here locally have subsided to almost nothing over the last 24 hours and the weather is supposed to cool down with little to no wind over the coming 3 days. So hopefully this will be the case.
Unfortuantely many people have lost there homes and although the main news outlets love to simply talk about the celebrities, there are many other people that have been displaced.
I will try to give another update here in the coming days as hopefully everything starts to settle down. Please let me know if you have any questions.
Here are some links to view video and images: Video
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.
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Santa Barbara, California Home Schooling Program
October 10th, 2008 Categories: Santa Barbara, School Information
Having my little boy start just this last month at The Waldorf School, I have been looking into all options for education here in the Santa Barbara, California area. One option that is becoming much more prominent here in the last years in Santa Barbara is the home schooling approach to education. Rob Kuznia, a staff write from Noozhawk wrote a great article below that outlines where Home School Santa Barbara is at. I have simply kept everything Rob Kuznia wrote here below. Noozhawk staff writer Rob Kuznia can be reached at rkuznia@noozhawk.com.
“The district’s program, with about 95 students enrolled so far, offers a menu approach, in which families can customize a child’s education.
The Santa Barbara public school system’s new K-12 home-schooling program is beginning to take shape, with about 95 students enrolled so far and several buildings available for optional classes.
Called Home School Santa Barbara, the new program offers parents the opportunity to home-school their children with the aid of the school district’s deep resources. It also gives the district the opportunity to recapture the revenue it loses when people pull their children out of local public schools.
All in all, the district has room for 125 students during the first year, said Pat Morales, a retired principal from the public Peabody Charter School who is spearheading the effort as a district consultant.
Morales said her vision for the Santa Barbara program is less a traditional home-school model — although she said parents can opt for that — and more of a menu approach, in which families can customize the educational structure of their children.
“It’s really like design your own education,” Morales said. “I actually do think it’s the wave of the future.”
Families can use the school’s resources to varying degrees, but must at the very least meet with a mentor teacher once a month to ensure their child is on track.
Meanwhile, the district will provide optional classes for students every Tuesday, Wednesday and Thursday.
In the elementary district, those classes will be offered at Monte Vista Elementary School, located in the Hope School District at 730 N. Hope Ave.
On Tuesdays, the classrooms will offer enrichment courses such as art, music and foreign language. Wednesday and Thursdays will focus on social studies and science, with the subject matter changing every eight weeks. The first segment will focus on the inter-relationship between humans and their environment on the Earth.
For students in grades seven through 12, the district will offer classes at several locations. On Tuesday mornings, students can go to Whiz Kidz, a computer center at Turnpike Road and Hollister Avenue in Goleta. There, students will use the technology on hand to research ancient civilizations. On Tuesday afternoons, students can take P.E. or enrichment classes such as creative writing, gardening and cooking at the nearby Page center at 4540 Hollister Ave.
On Wednesdays, courses will be offered at Arroyo Burro Beach. In the morning, classes will focus on geology; in the afternoon, marine biology and life science. The students will assist professional scientists in their research.
On Thursdays, students can head to the Teen Center, at 1235 Chapala St. in Santa Barbara, where they are free to join a book club, take an art class or use the computer lab.
“It’s a free-choice day in a way,” Morales said. “The teachers will be there, of course.”
The seventh- through 12th-graders also have the option of attending two classes at traditional schools, or receiving college credit by taking courses at Santa Barbara City College. Courses also will be available to take online.
But there will be some limitations. Santa Barbara Home School students will not be allowed to participate in a traditional high school’s prom, unless they are invited. And they will not be allowed to compete on a local public high school’s athletics team, although the new private Providence High School is allowing the students to try out for its sports teams.
Students need not be from Santa Barbara County to enroll in the home-school program, but, according to state law, must be from a county that borders Santa Barbara County.
Thus far, Santa Barbara Home School includes about 57 elementary students and 38 secondary students, she said.
Nearly three-quarters of the enrollees had not been attending a school in the Santa Barbara School District before now. Most are students who were being home-schooled or attending private schools, or were enrolled at a neighboring public district such as Carpinteria, Montecito, Goleta and Hope, Morales said.
This means the district is recapturing some of the revenue it traditionally has lost from the families who choose to leave the district for private schools, home-schooling or other options.
To learn more, call Morales at 805.896.2634.”
Further Reading: Articles About School Information, Healthier Food Coming to Santa Barbara Schools
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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Support Turning the Tide on Ocean Pollution here in Santa Barbara CA.
September 12th, 2008 Categories: Community Events, Lifestyle / Things to Do, Santa Barbara
Looking for another great event here in the Santa Barbara area to support our oceans and keep Santa Barbara a wonderful place to live. This is one of the many events and activities that makes Santa Barbara the great community that it is. If you have the time (or make the time) come out and support this cause. Please view the email below that was sent out by the local chapter of The Surfrider Foundation.
SANTA BARBARA CHAPTER SURFRIDER FOUNDATION PRESENTS
TURN THE TIDE ON OCEAN POLLUTION: PADDLE FOR CLEAN WATER EVENT
SATURDAY, SEPTEMBER 20, 2008, 11AM
STEARN’S WHARF
The Santa Barbara Chapter of Surfrider will hold its fourth anniversary Paddle Out, “Turn the Tide on Ocean Pollution” event at Stearn’s Wharf from 11:00 am to 2:00 p.m. on Saturday, September 20, 2008. People-powered participants of all ages are invited to join the paddle out in solidarity of preserving and protecting the world’s oceans.
This event offers two levels of participation:
(1) Open registration (FREE)
(2) Surfrider Supporter for $25. The Surfrider Supporters will receive goodie bags, including an event tee shirtand a lunch ticket for Wahoo’s. Please be sure to bring your kids too. Each child accompanied by one Surfrider Supporter will receive a goodie bag with a children’s shirt (quantities limited so be sure to register as soon as possible).
More Information and Registration
Special Event Announcements:
(1) A limited number of event tee shirtsare available. Pre-registered participants are guaranteed the size and color shirt they want.
(2) Sign yourself and three friends up; get a pair of Simple Shoes’ Joe Curren Re Tires. 20 pairs of shoes are available for those who enjoy paddling with their posse.
(3) The first 50 paddlers (both pre-registered and new registrants) in line on Saturday, September 20 after 11:00 am will get lunch at Wahoo’s.
(4) Silent Auction donors include Billabong, Caribbean Coffee, New Belgium Brewing Co, Magellan’s, Patagonia, Simple Shoes, and The Walking Company. Credit card accepted.
Why are We Paddling?
We are encouraging Santa Barbara to take the Rise Above Plastics pledge. Santa Barbara Surfrider’s Paddle for Clean Water participants will shed some of their dependence on convenience plastics by using event goodie bags made from recycled plastic bottles for their grocery shopping. Santa Barbara Surfrider water bottles will also be available as another way to reduce single use plastic bottles. By taking the Rise Above Plastics pledge, each participant will, on average, remove 400 plastic grocery bags and 167 plastic bottles from the chain.
Registration is Open
Please join us as either a (1) Participant where you can paddle with us to show your support and solidarity with Surfrider, and learn more about what we can all do to help heal our oceans, or as a (2) Surfrider Supporter. Surfrider Supporters will receive a goodie bag which will include an event tee shirt and other give aways from our merchandising partners. Each child will receive a tee shirt and goodie bag with every paid adult Supporter thanks to the generous contributions of our local corporate sponsors like Citrix Online and Maps.com.
Event Day and Time
Saturday, September 20, 2008, from 11:00 a.m. to 2:00 p.m.
- Registration begins at 11:00 am
- Silient Auction opens at 11:00 am
- Speakers begin at noon
- Paddle Out starts at 1:00 pm
- Paddle Out concludes at 1:30 pm
Event Location
East Beach (immediately on the east side of Stearn’s Wharf) in Santa Barbara.
Starting line for paddle will be at the base of Stearn’s Wharf.
Healing Circle will be held in the “Y” of Stearn’s Wharf.
Please visit www.sbsurfrider.org for more information.
Further Reading: Santa Barbara Community Events
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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Strategies to Buying a Home in Foreclosure Here in Santa Barbara CA.
August 21st, 2008 Categories: Buyer's Resources, Foreclosures - Bank Owned, Santa Barbara
If you are hoping to purchase a house on the cheap by buying a foreclosed property here in the Santa Barbara area, you are not alone? It is a natural instinct to want to look into this as an option as the market has slowed and the constant bombardment of negative media news regarding real estate continues.
There are some good deals out there here locally, but the process can be complicated and risky and you need to be educated on what you are getting into.
Here are a 2 Quick Points you need to know firsthand with regards to foreclosures here in the Santa Barbara area.
1) There simply are not as many here locally in Santa Barbara as perceived, based on the national news. Also, Santa Barbara often gets bundled into statistics that include Lompoc and Santa Maria (Santa Barbara County) where there are much more foreclosures to be had.
2) Most of the foreclosures here in Santa Barbara tend to be in the condo market roughly in the $250,000 to $700,000 price point, or in track homes around the $500,000 to $800,000 price point. Additionally, most of the foreclosures here locally are in Goleta and Carpinteria as of now. There certainly are others, they are just fewer and farther between.
Stages of Foreclosures: There are three different stages of foreclosure for real estate, each of these presenting different opportunities for you to buy.
1) Pre-foreclosure
When a borrower has unfortunately fallen behind on their monthly mortgage payments, the home will go into pre-foreclosure. Active buyers can find pre-foreclosures by spending lots of time diving into the delinquency notices that lenders file with the county courthouse here in Santa Barbara when a borrower has missed their payments.
Now with potential prospects in hand, you can go drive-by these homes on your own. If you see a home that you potentially would like to pursue, you could contact the owner directly to see if they want to sell.
NOTE: You will read articles here and there that this is a good way to make a profit of sometimes 30% from such places as foreclosure.com etc. Simple fact is…from what I have learned, this reality will be difficult with the current “owners” being in a very emotional state and often angry. Most likely these people will be trying to hold onto their homes and would look harshly at anyone they consider might be “sniffing around”. Granted there will be some who want relief from bad mortgages, but it can be a fine line and a way to put yourself in some stressful and potentially scary situations.
Many of these homeowners in this situation will also opt to try a short sale which at a minimum buys them time…often many months. More and more banks are seeming reluctant to many short sales with some stats showing only 15-20% of short sales ever closing.
2) Sheriffs’ sales
After a home reaches default, one option is to try and auction the home off on the county courthouse steps here in town. These homes can offer some real bargains, but the process takes a serious affinity to risk.
If you are bidding on a property, you can not inspect the property beforehand and therefore there is no telling how much work it needs. You also do not know what kind of liens there are against the home, if any, due to unpaid taxes, a contractor’s lien etc. All of this makes it very difficult to establish value. Lastly, you as the buyer need to have ready cash, sometimes 10%-20% down on the spot, and be able to come up with the rest in a matter of days.
For me, I would rather simply wait until a bank owned property is officially listed and work with a seasoned Realtor who knows the value of homes. Additionally, you will be able to inspect the property which is as important as anything.
3) Post-foreclosure
Once a lender finally takes back a house, the property will go on the market as quickly as possible and be listed as an REO (real estate owned) or Bank Owned property at a very good market value or below market value. These homes then in effect become ordinary sales, listed with a broker. Here in Santa Barbara, homes that are in foreclosure that are perceived as bargains are often getting multiple bids. If a home has been on the market for longer than a week, you as a buyer can offer a much lower price and negotiate. Generally the lender has a lowest dollar amount they will accept. If you are willing to meet this price, the home is yours. If not, then the home will stay on the market to hopefully attract other buyers.
View: Current Listings of Homes in Foreclosure in Santa Barbara CA.
Further Reading: Any Great Deals on Homes in Foreclosure, Potential Negatives to Buying Santa Barbara Homes in Foreclosure, Are Short Sales a Good Path to Santa Barbara Real Estate Ownership?, Any Great Short Sale Opportunities in Goleta and Santa Barbara CA.?, Little Known Advantages of Blogging Realtor in Santa Barbara and Montecito CA., 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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Are $5 Gas prices effecting Santa Barbara CA Realtors and/or their clients?
July 4th, 2008 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!!!
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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