Are Foreign Nationals Still Buying Santa Barbara CA Real Estate?
With both the combination of declining real estate values over the last few years in the US and the rise of the Euro (and most all currencies) against the US Dollar, real estate in California beach communities was ripe with foreign buyers. High end communities such as Santa Barbara CA with its' quality lifestyle and beautiful natural setting attracted many of these foreign nationals. Today though, the demand is not quite as high as it was in 2007 and 2008, but it nevertheless is still there. The main reasons for only this small decrease in demand are pretty straight forward: 1) The US Dollar continues to only slowly climb against foreign currencies 2) Real Estate and the overall economy in most other countries has not been hit as hard as here in the US
3) Santa Barbara is still Santa Barbara Just in the last several weeks I have talked with several agents that are working with foreign nationals mainly from the U.K., Russia and Canada. I myself am working with a few clients as well from the same areas and see no reason that this trend will not continue. Whether you are looking for an investment, a second home, vacation property or to retire, California real estate in areas such as Santa Barbara and Montecito CA. will most likely always be appealing.
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 Berkshire Hathaway.
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