How is the Hope Ranch CA. Real Estate Market Holding Up with Foreclosures and Short Sales?
With the reality of the overall real estate market in the U.S. here in the last 2 years, it is inevitable that I am asked about short sales and foreclosures. Most of this though is generated from people interested in the entry level price points up to about $2 million. Here and there though I am asked by someone about the state of foreclosures and short sales in Hope Ranch and our other luxury areas here in Santa Barbara CA. and Montecito CA. Being that there is so much doom and gloom across the U.S. with the housing market and lately a lot of this effecting the high end neighborhoods, this is a very normal question.
So where are we with foreclosures and short sales in Hope Ranch? Not too dramatic if you ask me. I have talked with many title reps, lenders and searched myself on several "foreclosure sites" to try and get an insight as to where we are at. If you look at these sites as well as talk to "informed" people, it is hard not to think that a lot more bank owned properties and/or short sales would/should be coming on the market. These sites track everything from 1st payment missed, to notice of default, to short sales, to imminent disaster and the list goes on. Yet, inevitability we are not seeing this "information" translate into numerous bank owned homes and/or short sales hitting our luxury market. Here are the numbers from the MLS for Short Sales and Bank Owned Homes in Hope Ranch - 2 since January 1, 2008. 825 Las Palmas Drive, Santa Barbara CA 93110 SHORT SALE, Asking Price $1,975,000 sold for $1,540,000 in August 2009. 4449 Vieja Drive, Santa Barbara CA 93110 SHORT SALE, Asking Price $$2,195,000 still Active for Sale. It is obvious that Hope Ranch and most all of our luxury market seems to so far be holding up incredibly well when it comes to short sales and bank owned properties. This is good for everyone. View: Current Hope Ranch Luxury Real Estate Listings Further Reading:
- The Secret of Santa Barbara Foreclosures
- Any Luxury Homes in Foreclosure in Montecito CA?
- Hope Ranch Luxury Real Estate Sales - Statistics 2009
- Montecito Luxury Real Estate Sales - Statistics 2009
- Carpinteria Luxury Real Estate Sales - Statistics 2009
- Santa Barbara Luxury Real Estate Sales - Statistics 2009
- Montecito Luxury Real Estate
- The Oceanfront Area - General Description and Information
- Santa Barbara Photo Tour
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