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Market Conditions in Santa Barbara : Real Estate Advice

  • All242
  • Local Info19
  • Home Buying72
  • Home Selling9
  • Market Conditions12

Activity 18
Thu Sep 18, 2014
bluesunflowersb answered:
Check with the Better Business Bureau first. That's a good start. Be very careful who you hire. A good friend of mine is a wonderful Master Craftsman carpenter and cabinetry builder. He has told me some horror stories about, in particular, Montecito projects which have gone on forever, with shoddy construction. This ineptitude is mainly due to that fact that many contractors have no idea of how to supervise and organize because they really have no clue how to build anything.

My friend says it is all too easy to get a contractor's license and you can get this license without ever really knowing how the heck to build a house!

Peter Elliot is a good local guy, a general contractor, who has had a company here in Santa Barbara for decades. 646-4214. Giffin and Crane have an excellent reputation but are very, very expensive. If it were me, I would find houses that I like, newer ones, and go ask the owners who built the house and what their experience was with their contractors. Bare in mind, though, that the owners aren't builders. They may not even know that their home has construction problems until years on down the line.

I'm not joking. With some of the stories I heard, I wanted to run right over to the owners and tell them just how badly they were being taken. To the tune of 100s of 1000s of dollars. It's a real shame.
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Tue Jul 22, 2014
Ray Benenate answered:
Hi Maria, The answers preceding mine are all very good. There are also some hidden gems of Santa Babara that are often overlooked. I have lived here since 1971 and worked in the real estate business nationwide. Santa Barbara has so many desirable areas. ... more
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Wed Jul 2, 2014
Li Lindstrom answered:
Hello, I too am looking to build in Santa Barbara and what costs would be, how to find a reliable builder, what to look out for, problems that can be expected during the process and whether or not we would have to be/should be living in the area during the building process. We have available a 2+ acre lot in the Hope Ranch area but currently live in Florida. ... more
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Wed Apr 23, 2014
Laura asked:
This question was asked from
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Tue Apr 8, 2014
Vanessa Martinez asked:
This question was asked from
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Sat Mar 1, 2014
gotcha62 asked:
This question was asked from…
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Wed Nov 20, 2013
Keith Jean-Pierre answered:
There is no question attached to this listing.
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Tue Oct 8, 2013
gina asked:
This question was asked from
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Sun Jan 27, 2013
JoAnn Pomatto-Gomez answered:
This is a tricky question. The asking price and days on the market are very indicative to how realistic the seller was about the asking price when first listing the property for sale. Before signing a listing agreement with a realtor, the realtor will prepare and present a comparative market analysis showing sales from the last six months. A seller will have a very realistic picture of what their home is worth and what it will sell for in the current market under the current conditions. However, some seller's find that they want to start higher than the market (therefore creating longer days on the market). Usually after a few price adjustments down to where the market demand actually is...the property will sell (sometimes for less than if it was priced at market from the beginning). It's been proven (I've seen this numerous times myself) that if a property is priced just slightly under market. It sells quickly and usually with more demand which can and more likely will push the purchase price over the asking price which is a win-win for the seller! ... more
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Mon Oct 17, 2011
Rich Bosselmann answered:
Ran Roque brings thoughts of great weather, it always seems sunny, even when it is foggy at the beach. Somewhat of a suburban neighborhood feel with well maintained homes yet only blocks to restaurants, shopping and everything that Santa Barbara has to offer. Great neighborhood, great location. ... more
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Thu May 26, 2011
iNSITES Team answered:
Hi Mr. Duncan-

Are you looking for overall market conditions or are you focused on a specific area or price range? I can easily provide 2010 versus 2011 data, or a month-versus-month comparison for either.

That said, I specialize in higher-end homes in Santa Barbara, Hope Ranch, and Montecito and the last couple of years have definitely been a tale of specific price ranges. On the very high-end, it's still a buyer's market. We have seen multiple sales over $10 million this year, but the properties that sold went out at very reasonable prices. Between $5 million and $15 million, many buyers are looking but aren't finding the right inventory, so sellers with quality homes that aren't officially on the market may find a unique ability to fetch a higher price than would be expected. In the $2 million to $5 million range recent activity has been good, but sales are occurring at much lower prices than in past years.

The bottom line is market conditions vary across price ranges and across specific areas of town. If you would like more specific information please contact me directly via email or phone.

Best regards,

Jon Perkins

Jon Perkins
(805) 284-3660 direct
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Tue Jul 27, 2010
Jeffrey Schlossberg answered:
Every answer first requires a carefully postulated question. Most homebuyers are looking for a good fit: without it, there is no great deal. Period. Investor/flipper/opportunists are a different equation.

A good value on the right fit does not require a foreclosure or other distress sale. Distressed properties usually carry baggage, some you can quantify, some that may remain invisible.

Enjoying life in a home you chose is an attainable goal. Chasing the pot of gold at the end of the rainbow is a different story. Pick your path (and guide) carefully. Good luck!
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Wed Apr 7, 2010
SB Buyer answered:
Steve, couldn't have said is better myself. More comic relief in the fact that the tax credit has raised prices to an equivalent amount.
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Tue Oct 13, 2009
Kevin Schmidtchen answered:

Feel free to look at my site regarding market information specifically on the Mesa as well as other areas. I have attached 2 links below specifically set up for you regarding your needs you asked about.

The Mesa stats and info:

The Mesa Market in your area year to date:

Please let me know if you have further questions...I would be happy to be of help with any needs.

Kevin Schmidtchen
Sotheby's Int'l Realty
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Fri Jun 12, 2009
Surf Cowboy answered:
It is spelled Cieneguitas and a new listing just came up in that area this week:
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Mon May 25, 2009
Lars answered:
These real estate agents are understating how much the local Santa Barbara real estate market has declined. Prices haven't dropped as much in in LA yet, but the sales have slowed to a trickle. Eventually folks will have to keep lower their prices. It's just a question of time.

A buyer I know recently had an offer accepted on an awesome home in the Riviera which had an asking price of three million bucks, but the sellers' accepted an offer in the low two's.

Prices have doubled and tripled in Santa Barbara over the last decade. Santa Barbara prices will always be high compared to less desirable places, but you can bet our local market will keep falling for awhile.
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Tue Dec 11, 2007
Frank Hotchkiss answered:

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.


Frank Hotchkiss
Sotheby's International Realty
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Tue Nov 6, 2007
ian cockburn answered:
It all depends on where in the country you are.
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