Stan Tabler

Santa Barbara Real Estate, Montecito Real Estate, Hope Ranch Real Estate & Goleta Real Estate

(805) 689-2305

Santa Barbara Real Estate Buying and Selling Tips

Whether you are a first-time home buyer or a seasoned veteran who has bought and sold properties for decades, buying or selling a home can be a complex process. While I have compiled this list of Santa Barbara Home Buying and Selling Tips as a resource for both buyers and sellers just like you, there is nothing that can replace the guidance provided by a knowledgeable and trusted member of the real estate community. As a Santa Barbara Realtor with more than three decades of experience in the Santa Barbara and surrounding markets, it would be my great pleasure to share my vast experiences with you. Perhaps one of the biggest preparations sellers can make when listing their Santa Barbara CA houses for sale is to get their home ready for buyers’ first impressions. Items such as the walkway, front porch and entryway can be crucial in a buyer’s first impression. Be sure to keep these areas free from clutter, updated and fresh. Kitchens and bathrooms are also known to “sell homes.” These are great areas to consider a few upgrades to maximize your return. As part of the Santa Barbara Real Estate Services I offer to sellers, we will walk through your home together to determine if any updates or changes need to be made to emphasize your home’s most marketable qualities. For buyers, it is important to first ask yourself why you want to buy a home: To stop paying rent? To start building equity? To raise a family? To have a place of your own? To entertain business associates? To move up to a bigger home? Next, you should determine the type of home you would like to have. Be specific and be sure to separate the “needs” from the “wants.” Once you have started this process, it will be imperative to speak with a qualified loan consultant regarding a pre-qualification. These Santa Barbara Home Buying and Selling Tips will assist you in being ready to explore communities and tour homes of interest without going on a wild goose chase.

Should you have any questions about these Santa Barbara Home Buying and Selling Tips, I encourage you to contact me. As a local real estate professional who lives, works and plays within the communities I service, it would be my great pleasure to welcome you to our area or to help you find the perfect buyers for your Santa Barbara home. Please do not hesitate to contact me today. I look forward to hearing from you soon and to earning your trust and business. Let’s get started!

Why is Santa Barbara Real Estate so expensive?

The Santa Barbara County South Coast may be the most attractive area in all of California to live due to its coastal setting, weather and no/slow growth policies which have been legally, and more importantly mentally, in place since 1972. With a total population of just over 200,000 coupled with a job base larger than the number of housing units available, the unrelenting demand for residences far outstrips the limited supply. Demand to live on the South Coast comes not only from local South Coast buyers (who account for 69.1% of the sales), but from North County buyers (1.2%), California buyers (14.7%), Western United States buyers (6.4%), Eastern United States buyers (5.8%) and Buyers from Abroad (2.8%). The South Coast’s Median Home price runs over twice the price of California’s Median Home price. Santa Barbara is a world-class destination and a highly desirable place to live; real estate values are driven by lifestyle choices, not just by economics.

What is the Median Home Selling Price?

The Median Price represents the price point at which half the homes sell for more and half sell for less. The Median Price can fluctuate from month to month depending on the price-mix of homes sold.

Current Price Trends

South Coast of Santa Barbara County

As of 8/31/2017

Single Family Residence/PUD Market

Median Sales Price = $1,444,000

Lowest Sale Price = $545,000

Highest Sale Price = $7,175,000

Condominium Market

Median Sales Price = $613,000

Lowest Sale Price = $360,000

Highest Sale Price = $3,740,000

Where can I see Santa Barbara homes for sale?

Just go to “Property Search” to listings currently available in any given price range.

Buying Your Santa Barbara Home

Step 1

Meet with me to get a general overview of the current market and to discuss what you are looking for in a home. Contact Stan by e-mail at [email protected] or on his direct line at (805) 689-2305.

Step 2

Since you will be making a serious financial commitment, your next task is to determine your budget for your investment in Santa Barbara Real Estate. If you need a mortgage, you should start the Pre-Approval process with a local lender and determine your comfort level.

Step 3

Determine the size of Santa Barbara home you will require, or can live with, by identifying the spaces you need for your family’s activities. No house will ever fully live up to your dreams, so you will probably have to make some compromises. Break the process into parts and prioritize those parts. Mentally budget for the parts your really care about!

Step 4

Select target neighborhoods that meet your needs for commuting, shopping access, quality of schools, availability, style and recreational activities. There is an array of possibilities; during this step we will tour homes in a few Santa Barbara neighborhoods to give you a overall view of the area.

Step 5

After determining which Santa Barbara neighborhoods and will fit your desires, we will concentrate your home search in the chosen areas. This may entail e-mailing the new listings to you as they come on the market or calling you with the information.

Step 6

After locating a home acceptable to you, we will prepare an offer to be presented to the Seller. This offer will contain your inspection and financing contingencies.

Step 7

Upon mutual acceptance of your negotiated offer, an escrow will be opened to handle the paperwork and title insurance needed for you to purchase the property. In California, the escrow company is a neutral third party which follows mutually agreed upon instructions from the Buyer and Seller. Your deposit check, which is usually in the amount of 3% of the purchase price, will be deposited into this escrow account.

Step 8

The length of escrow is negotiated in the offer and can be long or short, but the usual length is 30-45 days. Usually the Buyer has a 17 day inspection contingency and the Buyer has the right to inspect the property and review any disclosures the Seller can provide. If the Buyer requires a mortgage, the time frame for removing the loan contingency is usually between 17 and 21 days. These time frames are all negotiable.

Step 9

Assuming that property checks out and you have removed all your contingencies, the balance of your funds is due in escrow the last business day prior to the escrow closing. Property transfers are recorded at 8:00 AM each business day and we usually get confirmation between 10:00 and 2:00, depending on how busy the County Recorder’s office is that particular day. Upon receiving confirmation the Seller usually releases the keys to the Buyer who is then free to occupy their new property.

Santa Barbara South Coast Real Estate Update

September 15, 2017

          Direct from the County Recorder’s Office, the overall number of property sales on the South Coast of Santa Barbara County was up 14% from 166 in August 2016 to 190 in August 2017, the median sales price was up 7% from $894,000 in August 2016 to $954,000 in August 2017 and the average sales price was up 17% from $1,234,202 in August 2016 to $1,450,000 in August 2017.  In August 2017 there were 110 House/PUD sales with a median sales price of $1,444,000 and an average sales price of $1,890,379.  In August 2017 there were 70 Condominium sales with a median sales price of $613,000 and an average sales price of $695,065.

          In Carpinteria the number of sales was up 38% from 13 in August 2016 to 18 in August 2017.  The median sales price was down 8% from $775,000 in August 2016 to $709,750 in August 2017 and the average sales price was up 32% from $850,038 in August 2016 to $1,119,361 in August 2017.  The lowest Carpinteria sale price in August 2017 was a condominium on Hickory Street for $360,000 and the highest was an estate on Toro Canyon Road for $5,148,000.        

          In Summerland the number of sales was down 66% from 3 in August 2016 to 1 in August 2017.  The median sales price was up 137% from $867,500 in August 2016 to $2,055,000 in August 2017 and the average sales price was up 106% from $997,500 in August 2016 to $2,055,000 in August 2017.  The lowest and highest Summerland sale price in August 2017 was a house on Whitney Avenue for $2,055,000.

          In Montecito the number of sales was up 86% from 14 in August 2016 to 26 in August 2017.  The median sales price was up 56% from $2,167,500 in August 2016 to $3,374,500 in August 2017 and the average sales price was up 13% from $3,016,036 in August 2016 to $3,418,250 in August 2017.  The lowest Montecito sale price in August 2017 was a house on Sierra Vista Road for $1,125,000 and the highest was an estate on East Valley Road for $7,175,000.

          In Santa Barbara the number of sales was down 2% from 83 in August 2016 to 81 in August 2017.  The median sales price was up 21% from $995,000 in August 2016 to $1,200,000 in August 2017 and the average sales price was up 13% from $1,210,187 in August 2016 to $1,373,445 in August 2017.  The lowest Santa Barbara sale price in August 2017 was a condominium on Anacapa Street for $485,000 and tied for the highest were houses on El Encanto Road and W. Mountain Drive, both of which sold for $4,600,000.

          In Hope Ranch the number of sales was down 50% from 2 in August 2016 to 1 in August 2017.  The median sales price was up 4% from $2,017,500 in August 2016 to $2,100,000 in August 2017 and the average sales price was up 4% from $2,017,500 in August 2016 to $2,100,000 in August 2017.  The lowest and highest Hope Ranch sale price in August 2017 was an estate on Via Cayente for $2,100,000.

          In Goleta the number of sales was up 26% from 50 in August 2016 to 63 in August 2017.  The median sales price was down 16% from $845,000 in August 2016 to $706,500 in August 2017 and the average sales price was down 6% from $866,310 in August 2016 to $810,310 in August 2017.  The lowest Goleta sale price in August 2017 was a condominium on Dearborn Place for $415,000 and the highest was an estate on Glen Annie Road for $3,850,000.

Analysis

          A limited supply of available properties along the South Coast of Santa Barbara County is keeping values higher than one might expect as compared to many inland areas of California and most areas of the United States. On the South Coast of Santa Barbara County as of September 13th there were only 405 active House/PUD listings and 102 Condominium listings available for purchase.  Generally, there is much more inventory available in the higher price ranges than in the lower ranges as 163 of the active listings are located in Montecito and Hope Ranch.  Compare these low totals to the years 2007 to 2011 when the total number of available listings ranged between 734 and 1,026.  Historically the highest number of available listings along the South Coast was recorded in June of 1992 when there were 1,297 listings available for sale.

          On the South Coast of Santa Barbara, in August 2017, there were no bank-owned property sales.  As of September 13th there were 2 active bank-owned listings available from Carpinteria through Goleta: a house on Padaro Lane for $18,700,000 and house on Canon View Road for $995,000.  As of September 13th there were 2 bank-owned listings in escrow, a house on Calle Manzanita listed at $831,000 and a house on Tajo listed at $629,900.  Compare our market’s 0% in foreclosure sales as a percentage of homes sold to 17% in New Jersey and 6% nationwide.   Check out Realty Trac’s list: http://www.realtytrac.com/statsandtrends/foreclosuretrends/ca .   In other news, the mortgage delinquency rate (delinquent at least 30 days) dropped to a 10-year low to 4.5% in May 2017.  In January 2007 the delinquency rate was 4.6% and in January 2010 it hit a high of 12%.

          As of July 2017 (the latest available data from CoreLogic) the highest recorded median County sales price in California was in San Francisco County @ $1,208,500 (up 5.1% from 2016) and the lowest recorded median County sales price was in Tehama County @ $172,000 (down 3.6% from 2016).  The median sales price in the County of Santa Barbara was $510,000 (up 20.9% from 2016) and the median sales price in the City of Santa Barbara was $947,000 (down 9.6% from 2016).  The lowest median sales price in any California city was in Thermal in Riverside County @ $46,250 (down 23.6% from 2016) and the highest was in Atherton in San Mateo County @ $6,300,000.  You could buy 136 median priced houses in Thermal, 12.3 in the County of Santa Barbara or 6.7 in the City of Santa Barbara for the same price as 1 in Atherton.  If you want to know what property you can buy in Red Bluff in Tehama County for $79,000, check out  http://www.homesandland.com/For-Sale/Red_Bluff,CA/1156_Pine_Street/43550325.html .  Each week Trulia compiles a national sales survey to determine the median sales prices in each of the States and the District of Columbia; for the week ending August 23, 2017, the District of Columbia had the highest median sales price @ $625,000 and was ranked #50 in Trulia Popularity, West Virginia had the lowest @ $136,500 and was ranked #37 in Trulia Popularity and California was in 2nd place @ $462,000 and was ranked #1 in Trulia Popularity.  To review Trulia’s maps of sales activity: http://www.trulia.com/home_prices/

          Coldwell Banker’s Home Listing Report for 2016 analyzed the average listing price of more than 50,000 4-bedroom, 2-bathroom homes and then ranked 2,168 markets across the USA.  California took up 15 of the top 20 most expensive cities with Santa Barbara coming in at #15 with an average price of $1,165,727.  The #1 average price was $2,453,718 in Saratoga, CA and dead last at #2,168 was Detroit, MI at $64,110.  To review the complete list: https://www.coldwellbanker.com/hlr/2016

          Noting the very slow but steady economic growth over the past 8 years, I feel slow but steady growth is a good thing, but I am not sure the Federal Reserve knows what to think about it.  Mortgage interest rates still remain very attractive, but we know they will not last forever.

          Of the 190 sales in August 2017, 91 were over $1,000,000 which equates to 48% of the total sales, up from 45% in July and down from 56% in June (which was the highest percentage in recent history.)  Compare our 48% to San Francisco’s 57.4% and San Jose’s 46.3%.  The South Coast of Santa Barbara is not an inexpensive place to purchase real estate as compared to most areas of the United States, but again many people will pay more to live and invest here.

          On August 29th, the Conference Board reported that the Consumer Confidence Index stood at 122.9, up from 120 in July.  Lynn Franco, Director of Economic Indicators at the Conference Board, stated “Consumers’ more buoyant assessment of present day conditions was the primary driver of the boost in confidence.”  The 151.2 Present Situation Index continues to hover near a 16-year high (high was 151.3 in July 2001).

          There were 76 cash sales out of a total of 190 in August 2017, which equates to 40% of the properties being sold for cash, which is a historic record.  Along the South Coast, the lowest percentage occurred in June 2013 when only 13% of the sales were cash and the former highest was in January 2016 when 36% of the sales were cash.  Nationally cash sales accounted for 29% of the sales; the cities with the highest shares of cash sales are Raleigh (NC) at 57.4%, Miami at 46.2%, Detroit at 45.2%, Oklahoma City at 44.6% and Tampa at 43.2%.

          The highest year-to-date median sales price recorded on the Santa Barbara South Coast was recorded in 2006 at $980,000; the year-to-date median sales price for 2017 is $975,000, so median sales price is still hovering just below that 2006 high mark and has been for many, many months now.

          The local market is still slightly tipped in the Seller’s favor due to lack of available inventory although I do feel most prices have plateaued and even softened in some neighborhoods, especially in the higher valued areas.  Take for example the available inventory as of September 13th in Goleta where there were only 58 active House/PUD listings and 30 pending sales, which equates to only a 1.9 month supply of properties for Buyers to choose from.  Historically somewhere around a 5 to 6 month supply of available inventory would indicate a balanced market between Buyers and Sellers.  Based on Santa Barbara Multiple Listing Service data and as of September 13th, Carpinteria/Summerland had a 3.5 month supply, Montecito had a 10.5 month supply, Santa Barbara had a 3.2 month supply and Hope Ranch had a 6.2 month supply.  These inventory numbers indicate that Goleta, Carpinteria/Summerland and Santa Barbara markets are still tilting in the Seller’s favor while Montecito and Hope Ranch markets are tilting in the Buyer’s favor.  With a total of 104 House/PUD pending sales and only 405 active listings on the South Coast of Santa Barbara County, there is only a 3.9 month supply of House/PUD listings to choose from.  With a total of 45 Condominium pending sales and only 102 active listings on the South Coast of Santa Barbara County, there is a 2.3 month supply of condominium listings to choose from.  Buyers can and will decide if a property is overpriced or underpriced and act on ones about which they feel confident.  As the market pace has slowed a bit due to the season and inventory has risen slightly, we have seen the last of double-digit property appreciation for the time being.  Along with being a great time to buy a property if you can find one that meets your needs and lock in a still great long term mortgage rate, it is also a good time to sell a property as there is still a pool of willing buyers waiting for the ‘right’ property to come onto the market at the ‘right’ price.

          Feel free to contact me with any real estate related questions.

Stan Tabler, CRS, GRI, ABR

Compass California

Realtor of The Year

www.StanTabler.com

California Brokers License #: 00774377 Since 1980

805-689-2305

Buying a Second Home or Vacation Home and Santa Barbara Real Estate Market Trends

If you are considering Buying a Second Home or Vacation Home, look no further than the City of Goleta. Located in beautiful southern California on the south coast of Santa Barbara County, Goleta is nestled approximately 100 miles northwest of Los Angeles and ten miles west of the City of Santa Barbara. Stunning natural surroundings include the picturesque south coast and the unparalleled Santa Ynez Mountains. In fact, in 2008, CNN Money listed Goleta as one of the “Best Places to Live.” Goleta Homes range from traditional single-family homes to multi-family apartments, new developments to long-established neighborhoods, and encompass a wide variety of architectural styles and price ranges.

For many, a Goleta Vacation Home is the ideal second home with its proximity to the water and the many amenities and luxuries of the surrounding communities. When Buying a Second Home or Vacation Home, be sure to place your trust in a knowledgeable real estate professional who can not only guide you during the transaction, but who has the in-depth community knowledge needed to ensure you find the ideal location for your vacation home.

Having helped countless numbers of clients purchase second and vacation homes throughout the Santa Barbara area, here are a few pointers:

  1. Avoid impulse buying and be sure to take the time to find the right type of home for you.
  2. Get to know the area and find a local real estate professional to assist you.
  3. Shop around for the best mortgage and for a financial planner who can advise you of the many tax benefits of owning a second home.
  4. Consider renting out your second home seasonally for additional income.
  5. Don’t forget to factor in additional expenses such as insurance and maintenance.
  6. Be sure to complete a Final Goleta Home Buying Walk Through with your Realtor before closing day.

It is a great time to be thinking about Buying a Second Home or Vacation Home. To learn more about our community or to schedule a time to view available properties, please do not hesitate to contact me, Stan Tabler. I look forward to hearing from you and to welcoming you home to Goleta! Let’s get started.

Santa Barbara South Coast Real Estate Update

September 15, 2017

Direct from the County Recorder’s Office, the overall number of property sales on the South Coast of Santa Barbara County was up 14% from 166 in August 2016 to 190 in August 2017, the median sales price was up 7% from $894,000 in August 2016 to $954,000 in August 2017 and the average sales price was up 17% from $1,234,202 in August 2016 to $1,450,000 in August 2017.  In August 2017 there were 110 House/PUD sales with a median sales price of $1,444,000 and an average sales price of $1,890,379.  In August 2017 there were 70 Condominium sales with a median sales price of $613,000 and an average sales price of $695,065.

In Carpinteria the number of sales was up 38% from 13 in August 2016 to 18 in August 2017.  The median sales price was down 8% from $775,000 in August 2016 to $709,750 in August 2017 and the average sales price was up 32% from $850,038 in August 2016 to $1,119,361 in August 2017.  The lowest Carpinteria sale price in August 2017 was a condominium on Hickory Street for $360,000 and the highest was an estate on Toro Canyon Road for $5,148,000.        

In Summerland the number of sales was down 66% from 3 in August 2016 to 1 in August 2017.  The median sales price was up 137% from $867,500 in August 2016 to $2,055,000 in August 2017 and the average sales price was up 106% from $997,500 in August 2016 to $2,055,000 in August 2017.  The lowest and highest Summerland sale price in August 2017 was a house on Whitney Avenue for $2,055,000.

In Montecito the number of sales was up 86% from 14 in August 2016 to 26 in August 2017.  The median sales price was up 56% from $2,167,500 in August 2016 to $3,374,500 in August 2017 and the average sales price was up 13% from $3,016,036 in August 2016 to $3,418,250 in August 2017.  The lowest Montecito sale price in August 2017 was a house on Sierra Vista Road for $1,125,000 and the highest was an estate on East Valley Road for $7,175,000.

In Santa Barbara the number of sales was down 2% from 83 in August 2016 to 81 in August 2017.  The median sales price was up 21% from $995,000 in August 2016 to $1,200,000 in August 2017 and the average sales price was up 13% from $1,210,187 in August 2016 to $1,373,445 in August 2017.  The lowest Santa Barbara sale price in August 2017 was a condominium on Anacapa Street for $485,000 and tied for the highest were houses on El Encanto Road and W. Mountain Drive, both of which sold for $4,600,000.

In Hope Ranch the number of sales was down 50% from 2 in August 2016 to 1 in August 2017.  The median sales price was up 4% from $2,017,500 in August 2016 to $2,100,000 in August 2017 and the average sales price was up 4% from $2,017,500 in August 2016 to $2,100,000 in August 2017.  The lowest and highest Hope Ranch sale price in August 2017 was an estate on Via Cayente for $2,100,000.

In Goleta the number of sales was up 26% from 50 in August 2016 to 63 in August 2017.  The median sales price was down 16% from $845,000 in August 2016 to $706,500 in August 2017 and the average sales price was down 6% from $866,310 in August 2016 to $810,310 in August 2017.  The lowest Goleta sale price in August 2017 was a condominium on Dearborn Place for $415,000 and the highest was an estate on Glen Annie Road for $3,850,000.

Analysis

A limited supply of available properties along the South Coast of Santa Barbara County is keeping values higher than one might expect as compared to many inland areas of California and most areas of the United States. On the South Coast of Santa Barbara County as of September 13th there were only 405 active House/PUD listings and 102 Condominium listings available for purchase.  Generally, there is much more inventory available in the higher price ranges than in the lower ranges as 163 of the active listings are located in Montecito and Hope Ranch.  Compare these low totals to the years 2007 to 2011 when the total number of available listings ranged between 734 and 1,026.  Historically the highest number of available listings along the South Coast was recorded in June of 1992 when there were 1,297 listings available for sale.

On the South Coast of Santa Barbara, in August 2017, there were no bank-owned property sales.  As of September 13th there were 2 active bank-owned listings available from Carpinteria through Goleta: a house on Padaro Lane for $18,700,000 and house on Canon View Road for $995,000.  As of September 13th there were 2 bank-owned listings in escrow, a house on Calle Manzanita listed at $831,000 and a house on Tajo listed at $629,900.  Compare our market’s 0% in foreclosure sales as a percentage of homes sold to 17% in New Jersey and 6% nationwide.   Check out Realty Trac’s list: http://www.realtytrac.com/statsandtrends/foreclosuretrends/ca .   In other news, the mortgage delinquency rate (delinquent at least 30 days) dropped to a 10-year low to 4.5% in May 2017.  In January 2007 the delinquency rate was 4.6% and in January 2010 it hit a high of 12%.

As of July 2017 (the latest available data from CoreLogic) the highest recorded median County sales price in California was in San Francisco County @ $1,208,500 (up 5.1% from 2016) and the lowest recorded median County sales price was in Tehama County @ $172,000 (down 3.6% from 2016).  The median sales price in the County of Santa Barbara was $510,000 (up 20.9% from 2016) and the median sales price in the City of Santa Barbara was $947,000 (down 9.6% from 2016).  The lowest median sales price in any California city was in Thermal in Riverside County @ $46,250 (down 23.6% from 2016) and the highest was in Atherton in San Mateo County @ $6,300,000.  You could buy 136 median priced houses in Thermal, 12.3 in the County of Santa Barbara or 6.7 in the City of Santa Barbara for the same price as 1 in Atherton.  If you want to know what property you can buy in Red Bluff in Tehama County for $79,000, check out  http://www.homesandland.com/For-Sale/Red_Bluff,CA/1156_Pine_Street/43550325.html .  Each week Trulia compiles a national sales survey to determine the median sales prices in each of the States and the District of Columbia; for the week ending August 23, 2017, the District of Columbia had the highest median sales price @ $625,000 and was ranked #50 in Trulia Popularity, West Virginia had the lowest @ $136,500 and was ranked #37 in Trulia Popularity and California was in 2nd place @ $462,000 and was ranked #1 in Trulia Popularity.  To review Trulia’s maps of sales activity: http://www.trulia.com/home_prices/

Coldwell Banker’s Home Listing Report for 2016 analyzed the average listing price of more than 50,000 4-bedroom, 2-bathroom homes and then ranked 2,168 markets across the USA.  California took up 15 of the top 20 most expensive cities with Santa Barbara coming in at #15 with an average price of $1,165,727.  The #1 average price was $2,453,718 in Saratoga, CA and dead last at #2,168 was Detroit, MI at $64,110.  To review the complete list: https://www.coldwellbanker.com/hlr/2016

Noting the very slow but steady economic growth over the past 8 years, I feel slow but steady growth is a good thing, but I am not sure the Federal Reserve knows what to think about it.  Mortgage interest rates still remain very attractive, but we know they will not last forever.

Of the 190 sales in August 2017, 91 were over $1,000,000 which equates to 48% of the total sales, up from 45% in July and down from 56% in June (which was the highest percentage in recent history.)  Compare our 48% to San Francisco’s 57.4% and San Jose’s 46.3%.  The South Coast of Santa Barbara is not an inexpensive place to purchase real estate as compared to most areas of the United States, but again many people will pay more to live and invest here.

On August 29th, the Conference Board reported that the Consumer Confidence Index stood at 122.9, up from 120 in July.  Lynn Franco, Director of Economic Indicators at the Conference Board, stated “Consumers’ more buoyant assessment of present day conditions was the primary driver of the boost in confidence.”  The 151.2 Present Situation Index continues to hover near a 16-year high (high was 151.3 in July 2001).

There were 76 cash sales out of a total of 190 in August 2017, which equates to 40% of the properties being sold for cash, which is a historic record.  Along the South Coast, the lowest percentage occurred in June 2013 when only 13% of the sales were cash and the former highest was in January 2016 when 36% of the sales were cash.  Nationally cash sales accounted for 29% of the sales; the cities with the highest shares of cash sales are Raleigh (NC) at 57.4%, Miami at 46.2%, Detroit at 45.2%, Oklahoma City at 44.6% and Tampa at 43.2%.

The highest year-to-date median sales price recorded on the Santa Barbara South Coast was recorded in 2006 at $980,000; the year-to-date median sales price for 2017 is $975,000, so median sales price is still hovering just below that 2006 high mark and has been for many, many months now.

The local market is still slightly tipped in the Seller’s favor due to lack of available inventory although I do feel most prices have plateaued and even softened in some neighborhoods, especially in the higher valued areas.  Take for example the available inventory as of September 13th in Goleta where there were only 58 active House/PUD listings and 30 pending sales, which equates to only a 1.9 month supply of properties for Buyers to choose from.  Historically somewhere around a 5 to 6 month supply of available inventory would indicate a balanced market between Buyers and Sellers.  Based on Santa Barbara Multiple Listing Service data and as of September 13th, Carpinteria/Summerland had a 3.5 month supply, Montecito had a 10.5 month supply, Santa Barbara had a 3.2 month supply and Hope Ranch had a 6.2 month supply.  These inventory numbers indicate that Goleta, Carpinteria/Summerland and Santa Barbara markets are still tilting in the Seller’s favor while Montecito and Hope Ranch markets are tilting in the Buyer’s favor.  With a total of 104 House/PUD pending sales and only 405 active listings on the South Coast of Santa Barbara County, there is only a 3.9 month supply of House/PUD listings to choose from.  With a total of 45 Condominium pending sales and only 102 active listings on the South Coast of Santa Barbara County, there is a 2.3 month supply of condominium listings to choose from.  Buyers can and will decide if a property is overpriced or underpriced and act on ones about which they feel confident.  As the market pace has slowed a bit due to the season and inventory has risen slightly, we have seen the last of double-digit property appreciation for the time being.  Along with being a great time to buy a property if you can find one that meets your needs and lock in a still great long term mortgage rate, it is also a good time to sell a property as there is still a pool of willing buyers waiting for the ‘right’ property to come onto the market at the ‘right’ price.

Feel free to contact me with any real estate related questions.

Stan Tabler, CRS, GRI, ABR

Compass California

Realtor of The Year

www.StanTabler.com

California Brokers License #: 00774377 Since 1980

805-689-2305

Santa Barbara Real Estate Services

The decision to purchase real estate or to place your home for sale in the Santa Barbara real estate market can be one of the biggest you and your family will make at any given time. This decision can be made easier if you are adequately informed about the buying and selling process, the local real estate market and the neighborhoods and communities in which you are interested. As a local real estate professional with more than thirty years of experience helping buyers and sellers just like you, it would be my great pleasure to introduce you to the Santa Barbara Real Estate Services I offer to both buyers and sellers.

For sake of simplicity, buying a home is a three-step process: finding the right community, finding the right home and negotiating the best contract terms. For your convenience, I have compiled a wealth of information on local communities and their real estate trends as well as provided you access to the search the entire Santa Barbara MLS to view available properties. Once we have narrowed down the ideal community and the right home, I will use my many years of experience and expertise and my Santa Barbara Real Estate Services to negotiate the contract terms to suit your needs and to exceed your expectations.

For sellers, I believe you will find my commitment to untiring communication and service, masterful marketing and negotiation skills to be most refreshing. Resulting from years of extensive experience and research, a superior ability to anticipate problems and solve them and unsurpassed ethics and professionalism, you will find these qualities will help your home sell quickly and for its highest dollar.

Whether you are moving across town or across the country, it would be my great pleasure to assist you with all your housing needs and to share my Santa Barbara Real Estate Services with you and your family. Please feel free to browse my Santa Barbara Home Buying and Selling Tips at your leisure and do not hesitate to contact me, Stan Tabler at your convenience. I look forward to hearing from you soon and to assisting you with all your real estate goals, big and small.

Santa Barbara South Coast Real Estate Update

September 15, 2017

          .Direct from the County Recorder’s Office, the overall number of property sales on the South Coast of Santa Barbara County was up 14% from 166 in August 2016 to 190 in August 2017, the median sales price was up 7% from $894,000 in August 2016 to $954,000 in August 2017 and the average sales price was up 17% from $1,234,202 in August 2016 to $1,450,000 in August 2017.  In August 2017 there were 110 House/PUD sales with a median sales price of $1,444,000 and an average sales price of $1,890,379.  In August 2017 there were 70 Condominium sales with a median sales price of $613,000 and an average sales price of $695,065.

          In Carpinteria the number of sales was up 38% from 13 in August 2016 to 18 in August 2017.  The median sales price was down 8% from $775,000 in August 2016 to $709,750 in August 2017 and the average sales price was up 32% from $850,038 in August 2016 to $1,119,361 in August 2017.  The lowest Carpinteria sale price in August 2017 was a condominium on Hickory Street for $360,000 and the highest was an estate on Toro Canyon Road for $5,148,000.        

          In Summerland the number of sales was down 66% from 3 in August 2016 to 1 in August 2017.  The median sales price was up 137% from $867,500 in August 2016 to $2,055,000 in August 2017 and the average sales price was up 106% from $997,500 in August 2016 to $2,055,000 in August 2017.  The lowest and highest Summerland sale price in August 2017 was a house on Whitney Avenue for $2,055,000.

          In Montecito the number of sales was up 86% from 14 in August 2016 to 26 in August 2017.  The median sales price was up 56% from $2,167,500 in August 2016 to $3,374,500 in August 2017 and the average sales price was up 13% from $3,016,036 in August 2016 to $3,418,250 in August 2017.  The lowest Montecito sale price in August 2017 was a house on Sierra Vista Road for $1,125,000 and the highest was an estate on East Valley Road for $7,175,000.

          In Santa Barbara the number of sales was down 2% from 83 in August 2016 to 81 in August 2017.  The median sales price was up 21% from $995,000 in August 2016 to $1,200,000 in August 2017 and the average sales price was up 13% from $1,210,187 in August 2016 to $1,373,445 in August 2017.  The lowest Santa Barbara sale price in August 2017 was a condominium on Anacapa Street for $485,000 and tied for the highest were houses on El Encanto Road and W. Mountain Drive, both of which sold for $4,600,000.

          In Hope Ranch the number of sales was down 50% from 2 in August 2016 to 1 in August 2017.  The median sales price was up 4% from $2,017,500 in August 2016 to $2,100,000 in August 2017 and the average sales price was up 4% from $2,017,500 in August 2016 to $2,100,000 in August 2017.  The lowest and highest Hope Ranch sale price in August 2017 was an estate on Via Cayente for $2,100,000.

          In Goleta the number of sales was up 26% from 50 in August 2016 to 63 in August 2017.  The median sales price was down 16% from $845,000 in August 2016 to $706,500 in August 2017 and the average sales price was down 6% from $866,310 in August 2016 to $810,310 in August 2017.  The lowest Goleta sale price in August 2017 was a condominium on Dearborn Place for $415,000 and the highest was an estate on Glen Annie Road for $3,850,000.

Analysis

          A limited supply of available properties along the South Coast of Santa Barbara County is keeping values higher than one might expect as compared to many inland areas of California and most areas of the United States. On the South Coast of Santa Barbara County as of September 13th there were only 405 active House/PUD listings and 102 Condominium listings available for purchase.  Generally, there is much more inventory available in the higher price ranges than in the lower ranges as 163 of the active listings are located in Montecito and Hope Ranch.  Compare these low totals to the years 2007 to 2011 when the total number of available listings ranged between 734 and 1,026.  Historically the highest number of available listings along the South Coast was recorded in June of 1992 when there were 1,297 listings available for sale.

         On the South Coast of Santa Barbara, in August 2017, there were no bank-owned property sales.  As of September 13th there were 2 active bank-owned listings available from Carpinteria through Goleta: a house on Padaro Lane for $18,700,000 and house on Canon View Road for $995,000.  As of September 13th there were 2 bank-owned listings in escrow, a house on Calle Manzanita listed at $831,000 and a house on Tajo listed at $629,900.  Compare our market’s 0% in foreclosure sales as a percentage of homes sold to 17% in New Jersey and 6% nationwide.   Check out Realty Trac’s list: http://www.realtytrac.com/statsandtrends/foreclosuretrends/ca .   In other news, the mortgage delinquency rate (delinquent at least 30 days) dropped to a 10-year low to 4.5% in May 2017.  In January 2007 the delinquency rate was 4.6% and in January 2010 it hit a high of 12%.

          As of July 2017 (the latest available data from CoreLogic) the highest recorded median County sales price in California was in San Francisco County @ $1,208,500 (up 5.1% from 2016) and the lowest recorded median County sales price was in Tehama County @ $172,000 (down 3.6% from 2016).  The median sales price in the County of Santa Barbara was $510,000 (up 20.9% from 2016) and the median sales price in the City of Santa Barbara was $947,000 (down 9.6% from 2016).  The lowest median sales price in any California city was in Thermal in Riverside County @ $46,250 (down 23.6% from 2016) and the highest was in Atherton in San Mateo County @ $6,300,000.  You could buy 136 median priced houses in Thermal, 12.3 in the County of Santa Barbara or 6.7 in the City of Santa Barbara for the same price as 1 in Atherton.  If you want to know what property you can buy in Red Bluff in Tehama County for $79,000, check out  http://www.homesandland.com/For-Sale/Red_Bluff,CA/1156_Pine_Street/43550325.html .  Each week Trulia compiles a national sales survey to determine the median sales prices in each of the States and the District of Columbia; for the week ending August 23, 2017, the District of Columbia had the highest median sales price @ $625,000 and was ranked #50 in Trulia Popularity, West Virginia had the lowest @ $136,500 and was ranked #37 in Trulia Popularity and California was in 2nd place @ $462,000 and was ranked #1 in Trulia Popularity.  To review Trulia’s maps of sales activity: http://www.trulia.com/home_prices/

          Coldwell Banker’s Home Listing Report for 2016 analyzed the average listing price of more than 50,000 4-bedroom, 2-bathroom homes and then ranked 2,168 markets across the USA.  California took up 15 of the top 20 most expensive cities with Santa Barbara coming in at #15 with an average price of $1,165,727.  The #1 average price was $2,453,718 in Saratoga, CA and dead last at #2,168 was Detroit, MI at $64,110.  To review the complete list: https://www.coldwellbanker.com/hlr/2016

          Noting the very slow but steady economic growth over the past 8 years, I feel slow but steady growth is a good thing, but I am not sure the Federal Reserve knows what to think about it.  Mortgage interest rates still remain very attractive, but we know they will not last forever.

          Of the 190 sales in August 2017, 91 were over $1,000,000 which equates to 48% of the total sales, up from 45% in July and down from 56% in June (which was the highest percentage in recent history.)  Compare our 48% to San Francisco’s 57.4% and San Jose’s 46.3%.  The South Coast of Santa Barbara is not an inexpensive place to purchase real estate as compared to most areas of the United States, but again many people will pay more to live and invest here.

          On August 29th, the Conference Board reported that the Consumer Confidence Index stood at 122.9, up from 120 in July.  Lynn Franco, Director of Economic Indicators at the Conference Board, stated “Consumers’ more buoyant assessment of present day conditions was the primary driver of the boost in confidence.”  The 151.2 Present Situation Index continues to hover near a 16-year high (high was 151.3 in July 2001).

          There were 76 cash sales out of a total of 190 in August 2017, which equates to 40% of the properties being sold for cash, which is a historic record.  Along the South Coast, the lowest percentage occurred in June 2013 when only 13% of the sales were cash and the former highest was in January 2016 when 36% of the sales were cash.  Nationally cash sales accounted for 29% of the sales; the cities with the highest shares of cash sales are Raleigh (NC) at 57.4%, Miami at 46.2%, Detroit at 45.2%, Oklahoma City at 44.6% and Tampa at 43.2%.

          The highest year-to-date median sales price recorded on the Santa Barbara South Coast was recorded in 2006 at $980,000; the year-to-date median sales price for 2017 is $975,000, so median sales price is still hovering just below that 2006 high mark and has been for many, many months now.

          The local market is still slightly tipped in the Seller’s favor due to lack of available inventory although I do feel most prices have plateaued and even softened in some neighborhoods, especially in the higher valued areas.  Take for example the available inventory as of September 13th in Goleta where there were only 58 active House/PUD listings and 30 pending sales, which equates to only a 1.9 month supply of properties for Buyers to choose from.  Historically somewhere around a 5 to 6 month supply of available inventory would indicate a balanced market between Buyers and Sellers.  Based on Santa Barbara Multiple Listing Service data and as of September 13th, Carpinteria/Summerland had a 3.5 month supply, Montecito had a 10.5 month supply, Santa Barbara had a 3.2 month supply and Hope Ranch had a 6.2 month supply.  These inventory numbers indicate that Goleta, Carpinteria/Summerland and Santa Barbara markets are still tilting in the Seller’s favor while Montecito and Hope Ranch markets are tilting in the Buyer’s favor.  With a total of 104 House/PUD pending sales and only 405 active listings on the South Coast of Santa Barbara County, there is only a 3.9 month supply of House/PUD listings to choose from.  With a total of 45 Condominium pending sales and only 102 active listings on the South Coast of Santa Barbara County, there is a 2.3 month supply of condominium listings to choose from.  Buyers can and will decide if a property is overpriced or underpriced and act on ones about which they feel confident.  As the market pace has slowed a bit due to the season and inventory has risen slightly, we have seen the last of double-digit property appreciation for the time being.  Along with being a great time to buy a property if you can find one that meets your needs and lock in a still great long term mortgage rate, it is also a good time to sell a property as there is still a pool of willing buyers waiting for the ‘right’ property to come onto the market at the ‘right’ price.

          Feel free to contact me with any real estate related questions.

Stan Tabler, CRS, GRI, ABR

Compass California

Realtor of The Year

www.StanTabler.com

California Brokers License #: 00774377 Since 1980

805-689-2305

Santa Barbara Real Estate Market Trends

Santa Barbara South Coast Real Estate Update

September 15, 2017

          Direct from the County Recorder’s Office, the overall number of property sales on the South Coast of Santa Barbara County was up 14% from 166 in August 2016 to 190 in August 2017, the median sales price was up 7% from $894,000 in August 2016 to $954,000 in August 2017 and the average sales price was up 17% from $1,234,202 in August 2016 to $1,450,000 in August 2017.  In August 2017 there were 110 House/PUD sales with a median sales price of $1,444,000 and an average sales price of $1,890,379.  In August 2017 there were 70 Condominium sales with a median sales price of $613,000 and an average sales price of $695,065.

          In Carpinteria the number of sales was up 38% from 13 in August 2016 to 18 in August 2017.  The median sales price was down 8% from $775,000 in August 2016 to $709,750 in August 2017 and the average sales price was up 32% from $850,038 in August 2016 to $1,119,361 in August 2017.  The lowest Carpinteria sale price in August 2017 was a condominium on Hickory Street for $360,000 and the highest was an estate on Toro Canyon Road for $5,148,000.        

          In Summerland the number of sales was down 66% from 3 in August 2016 to 1 in August 2017.  The median sales price was up 137% from $867,500 in August 2016 to $2,055,000 in August 2017 and the average sales price was up 106% from $997,500 in August 2016 to $2,055,000 in August 2017.  The lowest and highest Summerland sale price in August 2017 was a house on Whitney Avenue for $2,055,000.

          In Montecito the number of sales was up 86% from 14 in August 2016 to 26 in August 2017.  The median sales price was up 56% from $2,167,500 in August 2016 to $3,374,500 in August 2017 and the average sales price was up 13% from $3,016,036 in August 2016 to $3,418,250 in August 2017.  The lowest Montecito sale price in August 2017 was a house on Sierra Vista Road for $1,125,000 and the highest was an estate on East Valley Road for $7,175,000.

          In Santa Barbara the number of sales was down 2% from 83 in August 2016 to 81 in August 2017.  The median sales price was up 21% from $995,000 in August 2016 to $1,200,000 in August 2017 and the average sales price was up 13% from $1,210,187 in August 2016 to $1,373,445 in August 2017.  The lowest Santa Barbara sale price in August 2017 was a condominium on Anacapa Street for $485,000 and tied for the highest were houses on El Encanto Road and W. Mountain Drive, both of which sold for $4,600,000.

          In Hope Ranch the number of sales was down 50% from 2 in August 2016 to 1 in August 2017.  The median sales price was up 4% from $2,017,500 in August 2016 to $2,100,000 in August 2017 and the average sales price was up 4% from $2,017,500 in August 2016 to $2,100,000 in August 2017.  The lowest and highest Hope Ranch sale price in August 2017 was an estate on Via Cayente for $2,100,000.

         In Goleta the number of sales was up 26% from 50 in August 2016 to 63 in August 2017.  The median sales price was down 16% from $845,000 in August 2016 to $706,500 in August 2017 and the average sales price was down 6% from $866,310 in August 2016 to $810,310 in August 2017.  The lowest Goleta sale price in August 2017 was a condominium on Dearborn Place for $415,000 and the highest was an estate on Glen Annie Road for $3,850,000.

Analysis

          A limited supply of available properties along the South Coast of Santa Barbara County is keeping values higher than one might expect as compared to many inland areas of California and most areas of the United States. On the South Coast of Santa Barbara County as of September 13th there were only 405 active House/PUD listings and 102 Condominium listings available for purchase.  Generally, there is much more inventory available in the higher price ranges than in the lower ranges as 163 of the active listings are located in Montecito and Hope Ranch.  Compare these low totals to the years 2007 to 2011 when the total number of available listings ranged between 734 and 1,026.  Historically the highest number of available listings along the South Coast was recorded in June of 1992 when there were 1,297 listings available for sale.

          On the South Coast of Santa Barbara, in August 2017, there were no bank-owned property sales.  As of September 13th there were 2 active bank-owned listings available from Carpinteria through Goleta: a house on Padaro Lane for $18,700,000 and house on Canon View Road for $995,000.  As of September 13th there were 2 bank-owned listings in escrow, a house on Calle Manzanita listed at $831,000 and a house on Tajo listed at $629,900.  Compare our market’s 0% in foreclosure sales as a percentage of homes sold to 17% in New Jersey and 6% nationwide.   Check out Realty Trac’s list: http://www.realtytrac.com/statsandtrends/foreclosuretrends/ca .   In other news, the mortgage delinquency rate (delinquent at least 30 days) dropped to a 10-year low to 4.5% in May 2017.  In January 2007 the delinquency rate was 4.6% and in January 2010 it hit a high of 12%.

          As of July 2017 (the latest available data from CoreLogic) the highest recorded median County sales price in California was in San Francisco County @ $1,208,500 (up 5.1% from 2016) and the lowest recorded median County sales price was in Tehama County @ $172,000 (down 3.6% from 2016).  The median sales price in the County of Santa Barbara was $510,000 (up 20.9% from 2016) and the median sales price in the City of Santa Barbara was $947,000 (down 9.6% from 2016).  The lowest median sales price in any California city was in Thermal in Riverside County @ $46,250 (down 23.6% from 2016) and the highest was in Atherton in San Mateo County @ $6,300,000.  You could buy 136 median priced houses in Thermal, 12.3 in the County of Santa Barbara or 6.7 in the City of Santa Barbara for the same price as 1 in Atherton.  If you want to know what property you can buy in Red Bluff in Tehama County for $79,000, check out  http://www.homesandland.com/For-Sale/Red_Bluff,CA/1156_Pine_Street/43550325.html .  Each week Trulia compiles a national sales survey to determine the median sales prices in each of the States and the District of Columbia; for the week ending August 23, 2017, the District of Columbia had the highest median sales price @ $625,000 and was ranked #50 in Trulia Popularity, West Virginia had the lowest @ $136,500 and was ranked #37 in Trulia Popularity and California was in 2nd place @ $462,000 and was ranked #1 in Trulia Popularity.  To review Trulia’s maps of sales activity: http://www.trulia.com/home_prices/

         Coldwell Banker’s Home Listing Report for 2016 analyzed the average listing price of more than 50,000 4-bedroom, 2-bathroom homes and then ranked 2,168 markets across the USA.  California took up 15 of the top 20 most expensive cities with Santa Barbara coming in at #15 with an average price of $1,165,727.  The #1 average price was $2,453,718 in Saratoga, CA and dead last at #2,168 was Detroit, MI at $64,110.  To review the complete list: https://www.coldwellbanker.com/hlr/2016

          Noting the very slow but steady economic growth over the past 8 years, I feel slow but steady growth is a good thing, but I am not sure the Federal Reserve knows what to think about it.  Mortgage interest rates still remain very attractive, but we know they will not last forever.

          Of the 190 sales in August 2017, 91 were over $1,000,000 which equates to 48% of the total sales, up from 45% in July and down from 56% in June (which was the highest percentage in recent history.)  Compare our 48% to San Francisco’s 57.4% and San Jose’s 46.3%.  The South Coast of Santa Barbara is not an inexpensive place to purchase real estate as compared to most areas of the United States, but again many people will pay more to live and invest here.

          On August 29th, the Conference Board reported that the Consumer Confidence Index stood at 122.9, up from 120 in July.  Lynn Franco, Director of Economic Indicators at the Conference Board, stated “Consumers’ more buoyant assessment of present day conditions was the primary driver of the boost in confidence.”  The 151.2 Present Situation Index continues to hover near a 16-year high (high was 151.3 in July 2001).

          There were 76 cash sales out of a total of 190 in August 2017, which equates to 40% of the properties being sold for cash, which is a historic record.  Along the South Coast, the lowest percentage occurred in June 2013 when only 13% of the sales were cash and the former highest was in January 2016 when 36% of the sales were cash.  Nationally cash sales accounted for 29% of the sales; the cities with the highest shares of cash sales are Raleigh (NC) at 57.4%, Miami at 46.2%, Detroit at 45.2%, Oklahoma City at 44.6% and Tampa at 43.2%.

          The highest year-to-date median sales price recorded on the Santa Barbara South Coast was recorded in 2006 at $980,000; the year-to-date median sales price for 2017 is $975,000, so median sales price is still hovering just below that 2006 high mark and has been for many, many months now.

          The local market is still slightly tipped in the Seller’s favor due to lack of available inventory although I do feel most prices have plateaued and even softened in some neighborhoods, especially in the higher valued areas.  Take for example the available inventory as of September 13th in Goleta where there were only 58 active House/PUD listings and 30 pending sales, which equates to only a 1.9 month supply of properties for Buyers to choose from.  Historically somewhere around a 5 to 6 month supply of available inventory would indicate a balanced market between Buyers and Sellers.  Based on Santa Barbara Multiple Listing Service data and as of September 13th, Carpinteria/Summerland had a 3.5 month supply, Montecito had a 10.5 month supply, Santa Barbara had a 3.2 month supply and Hope Ranch had a 6.2 month supply.  These inventory numbers indicate that Goleta, Carpinteria/Summerland and Santa Barbara markets are still tilting in the Seller’s favor while Montecito and Hope Ranch markets are tilting in the Buyer’s favor.  With a total of 104 House/PUD pending sales and only 405 active listings on the South Coast of Santa Barbara County, there is only a 3.9 month supply of House/PUD listings to choose from.  With a total of 45 Condominium pending sales and only 102 active listings on the South Coast of Santa Barbara County, there is a 2.3 month supply of condominium listings to choose from.  Buyers can and will decide if a property is overpriced or underpriced and act on ones about which they feel confident.  As the market pace has slowed a bit due to the season and inventory has risen slightly, we have seen the last of double-digit property appreciation for the time being.  Along with being a great time to buy a property if you can find one that meets your needs and lock in a still great long term mortgage rate, it is also a good time to sell a property as there is still a pool of willing buyers waiting for the ‘right’ property to come onto the market at the ‘right’ price.

          Feel free to contact me with any real estate related questions.

Stan Tabler, CRS, GRI, ABR

Compass California

Realtor of The Year

www.StanTabler.com

California Brokers License #: 00774377 Since 1980

805-689-2305

Final Goleta Home Buying Walk Through

You’ve found the home of your dreams, negotiated the contract and you’ve been running around making plans and getting ready to move – closing is just days away! There are just a few more steps before the keys to your new Goleta Real Estate are in your hands. One of these important steps is the Final Goleta Home Buying Walk Through. There is a lot that can happen in the final days before closing. Movers may have damaged a wall or the floor during the seller’s move, perhaps the curtains you negotiated into the deal have been taken down, or maybe the previous owner left the garage full of boxes and trash. Anything can happen, which is why it is imperative to complete a final walk through whether you are Buying a Second Home or Vacation Home or are moving into your primary residence.  Here are a few tips to remember when touring the home for the final time:

  1. Check steps, sidewalks, driveways and patios for any noticeable change.
  2. Verify the condition of doors and windows, including locks.
  3. Check garage door and openers, as well as exterior lights and motion-activated lights.
  4. Flush all toilets and check all faucets.
  5. Check all appliances to ensure they are in working order, including water heater.
  6. Check ceilings, walls and floors for any new damage.
  7. Verify heating and air is operational.
  8. Ensure all negotiated terms from the contract are present and in the expected condition.
  9. Ensure that all the seller’s personal items and debris have been removed from the property.

As your Goleta Realtor, one of my responsibilities to both buyers and sellers is to ensure that this Final Goleta Home Buying Walk Through is completed to everyone’s satisfaction. If you’re considering the purchase or sale of a Goleta home or any property in the Santa Barbara area, it would be my pleasure to discuss the final walk through and many other details with you.

With more than three decades of real estate experience within this community, I have helped countless numbers of buyers and sellers reach their real estate goals. Whether you’d like more information on the Final Goleta Home Buying Walk Through or would like to speak with me to learn more about the community and its real estate, please do not hesitate to contact me today! I look forward to hearing from you soon.

Montecito Real Estate Closing Process

What’s next? After you have worked tirelessly to find the home of your dreams, it’s time for the closing process to begin. Simply put, closing occurs when you sign the papers to make the house yours. However, before that day arrives the Montecito Real Estate Closing Process involves several important steps that are put in place to protect all parties. As your Montecito Real Estate Agent, it would be my pleasure to guide you and assist you throughout the entire process from beginning to end.

 

  1. Open Escrow – Escrow is an account held by a third party. This third party will hold the escrow amount you agreed upon in your purchase agreement until closing.
  2. Title Search and Title Insurance – When purchasing Montecito California Real Estate, title search and insurance provide peace of mind and legal safeguard so that when you buy a property, no one else can try to claim it as theirs later. A title officer will perform the search to make sure there are no clouds on the title.
  3. Appraisal – A lender will want to make sure you’re borrowing an amount equal or less than the home’s market value.
  4. Home Inspection – While a home inspection is not required, most buyers will choose to have an inspection to ensure they understand the condition of the home they are purchasing. If there are serious problems uncovered during inspection, you will generally have the opportunity to renegotiate or back out of the agreement.
  5. Final Walkthrough – This is one of the last steps before you sign closing papers to ensure no damage has occurred and nothing has been removed that is included in the purchase.
  6. Closing Day – It is imperative to review each closing document thoroughly before completing the Montecito Real Estate Closing Process. Generally, the buyer and seller, as well as their agents, will be present at the closing. Once all legal documents are signed, the title company will officially record the deed and other legal documents with the appropriate government agencies.

These are the very basic steps of the Montecito Real Estate Closing Process. It is important to remember that each purchase or sale is unique and that it is always in your best interest to have a local real estate professional assist you from beginning to end. Please take a moment to browse my blog and my website and let me know if you have any questions or if I can be of any assistance. You may also enjoy my recent Montecito Real Estate Market Report. There has never been a better time to consider the purchase of Montecito real estate. Contact me at your convenience to learn more!

Santa Ynez Home Buyers and Sellers Checklist

Overwhelmed? Taking care of all the little details when it comes time to purchase or sell your Santa Ynez Valley Homes can seem daunting. There are many factors to consider and deadlines to meet to ensure your transaction stays on track. As a local real estate professional that has been assisting buyers and sellers just like you for more than forty years, I’ve developed a Santa Ynez Home Buyers and Sellers Checklist to assist you.

 

Santa Ynez Home Buyers and Sellers Checklist For Buyers:

  • Determine how much you can spend by speaking with a knowledgeable mortgage consultant. This may include checking your credit reports and learning how much you can borrow.

  • Find a local real estate professional that has the in-depth community knowledge today’s Santa Ynez Valley homebuyer needs.

  • Research potential neighborhoods. Begin making a list of features you want in a home, and start house hunting with your Realtor.

  • Make an offer.

  • Get an inspection, appraisal and begin working towards the closing process.

 

Santa Ynez Home Buyers and Sellers Checklist For Sellers:

  • Educate yourself about the current market data and trends in your neighborhood

  • Prepare your home. Clean and de-clutter all areas of the home. Speak with your Realtor about any changes or upgrades that may need to be addressed before placing your home for sale.

  • Price your home to sell. Take time to discuss this thoroughly with your Realtor.

  • Work to keep you home clean and tidy so you are always ready for showings.

  • Be realistic with all offers and take the emotions out of your decision.

These are just a few steps that you and your Realtor will need to take to ensure your transaction is as smooth and successful as possible. If you are investing in property, I encourage you to also read by blog entitled: Santa Ynez Investment Properties Do and Don’t List. If you’re ready to start browsing the real estate market or would like to discuss selling your Santa Ynez home, contact me today! I am always available for consultation and look forward to sharing my wonderful community with you! Let’s get started today.

Santa Ynez Investment Properties Do and Don’t List

Offering world-class wineries, verdant vineyards, sprawling ranches and six small towns, the Santa Ynez Valley is praised by locals and visitors alike for its rural-agricultural heritage and sophisticated “wine country” ambiance. In spite of the area’s relaxed atmosphere, Santa Ynez Valley Real Estate allows residents to enjoy an active lifestyle including golf, biking, hiking and horseback riding, as well as excellent fishing at nearby Lake Cachuma. An ideal location for investment, I have compiled this Santa Ynez Investment Properties Do and Don’t List for your convenience.

 

When considering the purchase of any investment property, it is important to complete a Santa Ynez Home Buyers and Sellers Checklist to ensure you stay focused and to move efficiently through the transaction. Here are a few investment pointers:

 

  • Do analyze your finances and make sure you can take on an investment property at this time.

  • Do make sure you are prequalified for a loan.

  • Do hire a knowledgeable and respected real estate professional, and be sure to research the current market in the community of your choice.

  • Do make sure you fully inspect properties to ensure that there are no large issues that will significantly change the total cost of your investment.

  • Don’t overestimate the value of rental properties. Your property may sit vacant for some time and you will need to account for this.

  • Don’t get invested emotionally in the process.

  • Don’t rush through the process. Take your time to find the investment that suits your wants and needs.

  • Don’t rely on seller’s documentations. Always have a third party verify title.

 

These are just a few tips to place on your Santa Ynez Investment Properties Do and Don’t List. It is important to remember that each house and each transaction are unique and that the guidance of a local real estate professional in these cases can be vital to your success.

 

As your Santa Ynez Valley Realtor, please do not hesitate to contact me if you have any questions about the Santa Ynez Investment Properties Do and Don’t List or any of the information you find on my website. I’d love to hear from you and look forward to helping you find the investment property that not only suits your needs, but that also exceeds your expectations. Let’s get started today!

Entertainment in Carpinteria and Summerland California Area

Positioned quietly between Ventura and Santa Barbara County, Carpinteria is a small, enchanting ocean-side town that is renowned for its exceptional bluffs and seemingly endless beaches. Entertainment in Carpinteria & Summerland California Area includes everything from surf and sea right outside your front door to bike riding, camping, a walk along the Salt Marsh Reserve, fine dining, world-class shopping and much, much more.

 

Carpinteria Real Estate allows residents and visitors alike to participate in endless recreational, social and cultural activities throughout the year. One great example is the highly celebrated Avocado Festival. Each year the festival can be found along Linden Avenue with everything from award winning guacamole to homemade avocado ice cream. Speaking of food, you will also find a wealth of great restaurants including Carp’s one-stop hamburger shack, Robitaille’s Fine Candies, Island Brewing Company, Cajun Kitchen Café and Hugos Restaurant. You will also find Hollandia Produce, an organic produce company, rounding off the shopping and Entertainment in Carpinteria & Summerland California Area.

 

Other fantastic sources of Entertainment in Carpinteria & Summerland California Area are the many hiking trails and hot springs found in the neighboring community of Ojai, the events and activities at the Santa Barbara Polo Fields and of course the endless beaches and ocean waves.

 

As your Carpinteria and Summerland Realtor, it would be my pleasure to introduce you to the area and to the many activities, amenities and luxuries found here. I encourage you to browse my website at your convenience and look forward to assisting you with any and all your real estate needs. You may also be interested in my recent blog entitled: How Do I Price My Carpinteria and Summerland Home? Contact me today to get started whether buying, selling or investing!

How Do I Price My Carpinteria and Summerland Home?

When it comes to putting your Carpinteria and Summerland Real Estate on the market, determining the right asking price is one of the most important decisions you and your Realtor will make. If you’re asking the question –  “How Do I Price My Carpinteria and Summerland Home?” – you’re headed in the right direction. With the help of a qualified and experienced Carpinteria Real Estate Agent, you should have no problem setting the right price for your home and attracting more potential buyers to your property.

 

When determining the appropriate asking price, real estate professionals take several things into consideration. Some of these include: comparable listings and sales, withdrawn and expired listings, pending sales, square foot cost comparisons and the overall condition of the local market. Once these items have been reviewed, a good Realtor will be able to answer: “How Do I Price My Carpinteria and Summerland Home.”

 

As a seller, it is also important to look at the selling of your home as objectively as possible and to try to keep emotions out of the equation. Equally as important is to remember that pricing your home too high could have a very negative impact on the marketability of your home. By setting a price that is too high, your home could likely become “stale” in the market and will need to be removed from the market for a period of time. If the property is priced too high and sits too long, potential buyers will think negatively of the property. Therefore, in order to get your home sold in the quickest possible time period, it is important for you to give serious consideration to the price suggested by your Realtor.

 

If you’re still wondering, “How Do I Price My Carpinteria and Summerland Home?” or would like to learn more about Entertainment in Carpinteria & Summerland California Area, I encourage you to browse my website and blog at your leisure. Please contact me if you have any questions. It would be my great pleasure to help you with any and all of your real estate goals!


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Contact Stan

Stan Tabler, CRS, GRI, ABR
Realtor of the Year
Compass California
1002 Anacapa Street
Santa Barbara, CA 93101
(805) 689-2305
[email protected]