Frank Hotchkiss

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Frank Hotchkiss, in Santa Barbara
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Frank Hotchk…'s Answers (10)
Kat, Just Looking in Santa Barbara

This looks too good to be true, so I'm assuming there's a catch... Can you enlighten me? Thanks!

Asked Sun Oct 19 2008, 08:03 by Kat  -  93101  -  Home Buying  -  4 answers
Frank Hotchkiss answered:
Doubtful that you could build there. - Sun Oct 19 2008, 09:55
Frank Goss, Home Buyer in Santa Barbara

I have 1.1 million dollars in cash and I don't want a house payment. I know that cash is important now.

Asked Sat Sep 27 2008, 18:42 by Frank Goss  -  Santa Barbara  -  Home Buying  -  8 answers
Frank Hotchkiss answered:
Frank:

Take a look at the very cute Craftsman home 611 E. Sola. Tricia would like it, I think. $965K asking.

Alternatively, rent for a year and buy stocks now. There are some very good deals on this depressed market. In a year your $1.1 could be worth quite a lot more.

Frank H. - Sun Sep 28 2008, 09:59
Stephan, Home Buyer in San Francisco

How do I know if I should offer more or less than the listing price in Santa Barbara?

Asked Mon Apr 23 2007, 15:51 by Stephan  -  Santa Barbara  -  Home Buying  -  4 answers
Frank Hotchkiss answered:
Stephan:

Kevin's is a good answer to your question, and I am saying that just because he is a friend and confederate. Wroking with a LOCAL Realtor will save you money, and perhaps a LOT of money because they watch the market constantly.

Re. prices, a property will be "hot" the first few weeks it comes on the market. By the fourth week, if it hasn't had any offers, the Realtor will be hammering on the seller to lower the price. Therefore, if you want to make a low offer, wait for that first month to pass before you do.

In Santa Barbara today, I think that if you make an offer that is 90% of the asking price, you will at least get a counter-offer, and you might get an acceptance. It's worth a try.

I would love to help you, of course, but are you ready to move yet? Call if you would like to discuss it.

Sincerely,

Frank Hotchkiss
Sotheby's International Realty
805-898-2084 - Tue Dec 11 2007, 17:45
Duco Lippmann, Home Buyer in Austin

What do you think we will see as far as the condo prices go in the coming 1-2 years. Do you think there is?

Asked Fri Oct 19 2007, 12:53 by Duco Lippmann  -  Santa Barbara  -  Market Conditions  -  3 answers
Frank Hotchkiss answered:
Duco:

Here is the short answer: Condo prices are down 10-15%. Buy now therefore, but plan to own for at least three years so you can ride out any dip. The last time prices dropped in SB (early 1990s) they recovered in about that time. History is telling.

Call if you would like help.

Sincerely,

Frank Hotchkiss
Sotheby's International Realty
805-898-2084 - Tue Dec 11 2007, 17:37
Greg, Home Buyer in Southern Pacific - R...

Which downtown is better to live near. Santa Ynez, Los Olivos, Ballard or Solvang?

Asked Sat Oct 27 2007, 15:58 by Greg  -  Santa Barbara  -  General Area  -  2 answers
Frank Hotchkiss answered:
These are very different places, but I will try to be brief so you can then decide which place you would like to focus on.

Santa Ynez, for lack of a better term, is sort of a Western town -- very horsey. Los Olivos is more of an artists' town -- wineries, galleries, some celebs. Ballard is a dot on the map adjacent to Los Olivos, and more of a family place, and Solvang is a pretty bustling tourist spot complete with suburban homes. Take a day and drive around and you will quickly determine which you like the best. Be aware that home prices vary widely. Here's a tip: Don't start looking at homes that are too pricey for you. Tell your Realtor what you realistically can do and stick with it.

Good hunting!

Frank Hotchkiss
Sotheby's International Realty
805-898-2084 - Tue Dec 11 2007, 17:33
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