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Solvang : Real Estate Advice

  • All30
  • Local Info3
  • Home Buying10
  • Home Selling0
  • Market Conditions3

Activity 18
Tue Aug 1, 2017
Joypsalm91 asked:
Could you recommend what areas in Santa Ynez and Solvang are allowed for vacation rental. Thank you
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Sat Nov 29, 2014
Amanda Eberhardt asked:
This question was asked from http://www.trulia.com/property/1069711565-3021-Buttonhook-Rd-Solvang-CA-93463
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Mon May 26, 2014
Bon asked:
Those price ranges are very affordable although I know that there will be common cost. But still I think that it would be a great place to spend my extra income. I read somewhere that it…
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Tue May 20, 2014
Jan Finley answered:
Solvang - check out my listing at 1434 Mission Drive - Solvang has the lowest crime in SB County and some of the best schools! My listing is private, gated and within walking distance to Solvang School, one of the best elementary schools. ... more
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Tue May 20, 2014
Jan Finley answered:
Palmer Jackson; there is a group trying to sue for ownership of the land. Considering the land lease, the real value of those homes is anywhere between $800K - to $1.6M. The price always attracts the wrong buyer for that property. It is a gated lifestyle community and many buyers pay cash to live at the property and use the rest of the money which it would usually take to live in a community of that kind for other investments. ... more
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Wed Apr 30, 2014
Carolyn Garth answered:
Hi, I'm Carolyn Garth, a realtor with Central Coast Landmark Properties in the Santa Ynez Valley. I have a commercial vacant lot in downtown Solvang currently listed, zoned TRC, or Tourist Related Commercial... which allows for commercial stores on the street level and residential apartments on the second level. The property is sizeable and had plans approved by the city in 2002 for two large shops down and a large apartment upstairs. Would something like this work for you? The property is priced very reasonably at $400k, and the plans are for sale at $17,000. The plans would need to be altered to accommodate any current city requirements and re-submitted in your names... but I would assume that the city is open to revisiting something they already approved with current requirements addressed. The architect has the original plans and lives and works right here in the valley.




If I can be of any help to you, please contact me at (805) 698-7088.
... more
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Mon Jul 1, 2013
Julie Morrell answered:
Solvang being a tourist town is good for vacation rental but the city frowns on it. Although there are alot of property owners doing it, Solvang is in the process of allowing so they can collect the bed tax. Long term rentals are at an all time low, so they are at a premium. If you don't want to deal with vacation rental and all that intails and need steady income, do a long term rental. ... more
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Mon Jul 1, 2013
Julie Morrell answered:
Hi,
You can expect to pay around $3,000/mo for this type of property. There are very few rentals available here in the valley so they are going for a premium.
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Thu Jan 10, 2013
Jennifer Gette asked:
This question was asked from http://www.trulia.com/property/1061719179-341-Fairway-Dr-Solvang-CA-93463?ecampaign=con_day_propertystatus_bk&eurl=www.trulia.com%2Fproperty%2F106171917…
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Wed Nov 14, 2012
Ron Thomas answered:
In 5 1/2 years Solvang has not changed much. Is that good or bad?
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Fri Apr 13, 2012
Sharon Dal Pozzo answered:
There is not enough information here to give you an answer that might be the best fit for you. How much do you owe on the property? Are their rental payments covering your cash flow or are you in a negative cash flow each month? Do you have plans to invest in another property should you sell?
Do your renters need to get a loan? Would you be interested in doing financing for them, where you could make more more money from the interest payments than you are making now. Sometimes price can be reduced should you realize the return you could get by doing this and not have to pay property tax's and other costs of owning. Since this is not your principle residence you need to talk to someone who could help you run the numbers, if you sell to them you could be saving in real estate fee's, have an agent do the paper work help with escrow for a set cost less than what many attorney's charge around 10K. Sounds like you have interested buyers now, is their offer way to low? They could be just testing the water and why not counter back to them and work out some terms if you can get them to come up in price? Why would you wait it could be a long time for the market to change.
... more
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Sun Oct 9, 2011
William Etling answered:
For some visitors, Solvang’s Danish roots are like real roots, in that they don’t see them at all. Tourists say “Look at those windmills! What a nice Dutch village!€ Only a few towns in America started as educational communities. Solvang’s founders established a Danish folk school and built their town around it, largely with Danish immigrants already in America. They came from the Dakotas, Minnesota, Iowa, all across the mid-West, as well as Denmark. Founding fathers Nordentoft, Gregersen, and Hornsyld had searched the state for the right spot. After an attempt to buy land in Mendocino failed, they found the Valley in 1911. The fascinating Elverhoj museum at 1620 Elverhoy Way chronicles the tale. This is a town with a strong sense of community. Many residents still have ties to Denmark by blood or marriage. Kids attend schools their grandparents built.

Superb bakeries are reason enough to move here permanently. Descended from generations of Danish bakers, Bent Olsen of Olsen’s Danish Bakery and Torben Petersen of Danish Mill Bakery are up well before the sun, preparing mouth watering pastry and breads, fresh daily. Add Mortensen’s Bakery and Solvang Bakery, and you’re never more than a block from blowing your diet.

The Solvang shopping directory lists 190 businesses, some truly great stores. Marianne Larsen’s Gaveaesken (“The Gift Box” in Danish) at 433 Alisal Rd. is a local favorite. Born in Denmark, former Danish Maid Marianne specializes in hand made Scandinavian gifts. The Solvang Children's Shop at 1661 Copenhagen is great for outfitting the kids. Across the street, Ingeborg’s Danish Chocolates at 1679 Copenhagen Dr. creates old-fashioned Danish chocolates and candy, which they ship all over the globe. Sweet! The Royal Copenhagen Shop next door clearly shows the impact of many buying trips to Denmark in the varied inventory, including a superb Danish cookware collection. You can get your own ableskiver pan across the street at Birgitte and Steen Pedersen’s Iron Art Gift Shop. Kathy Mullin’s Book Loft at 1680 Mission Dr. is a fine bookstore, with a Hans Christian Andersen Museum upstairs. They’ve inspired thousands of young writers with their essay contests over the years. The Solvang Antique Center collective at 486 First Street has an overwhelming array of fine antiques and kitschy esoterica. Phil Grant’s First Street Leather at 1634 Copenhagen is a model for retailers and a joy for buyers. An outstanding collection of coats, hats, belts, bags and more since 1972, plus Phil’s personable presence. The Jule Hus, Solvang’s Christmas store at 1580 Mission Dr., is ornament heaven. Owners Lauren and David Watts often travel to Europe to seek out unique finds. Don’t miss Pearls of Provence at 485 Alisal for a cheery “Bonjour!” and a quick idyllic trip to the lavender laden south of France, complete with period antiques and colorful linens. More tasting rooms are opening. Lucas & Lewellen is at 1645 Copenhagen Dr. Legendary Louis Lucas is one of the pioneers of viticulture in this area. Digital Instruments founder physicist Virgil Elings' Solvang Motorcycle Museum way down at 320 Alisal Rd is one of the best collections of classic and vintage bikes in the USA. For more info visit my website.
... more
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Fri Jul 15, 2011
answered:
Halley, Love the Solvang area! The only way to determine how much M you have a full mortgage approval. Many lenders/loan officers will provide you a glorified prequal with automated underwriting; however, it can cause issues once you actually sign a contract because the information (such as income calculations) input into the loan processing system was not accurate. You want a full underwritten loan commitment subject only to appraisal and clear title.

I do agree with @Paul somewhat, in that I believe in providing consumers with their maximum allowable lending ability; then adjusting the loan amount to meet my clients goals and intentions. There are many things to consider in the home buying process and you want to work with a loan consultant who is going to provide knowledge and answers to all of your questions to ensure you are making decisions that reflect your goals, not only the lenders and/or the loan consultant.

I notice you hail from NY. Whether you are wanting to buy a second home in Solvang or relocating to the area has considerable impact on the financing of a property. Qualifications for financing are dramatically different when buying investment or secondary homes versus a primary residence. This belies the fact to understand that a simple mortgage "application" will not likely answer all of either your questions or those of the underwriter/lender.

Feel free to contact me is you have further questions and/or just want clarifications on the lending process. Lending is NY is far different than CA (actually simplier here and far less expensive)....yes, I have done financing in NY and all 50 states. Understanding the differences will help you throughout the process.
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Fri Dec 10, 2010
William Etling answered:
Ask your experienced, full time local broker. Generally offers are lower than the asking price, but occasionally a home is so obviously under-priced (usually by out-of-town agents listing bank-owned properties) that it makes sense to offer full price or (rarely) even an overbid. ... more
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Sat Mar 7, 2009
Bill Eckler answered:
JP,

FSBO's are notorious for having an inflated appreciation for the value of their homes and tend to try to "Buffalo" buyers with unwanted and unnecessary information. The FSBO market did very well when buyers thought they could save on their purchase by eliminating the agents fee for service.

The reality was, it didn't benefit the buyer in most cases but did put more money in the seller's pocket.

"Foreclosures" have taken the thunder away from the FSBO market because this is the new area for buyers to find genuine savings. Depending on the location, buyers can plan on huge savings tha FSBO's can begin to compete with.

Thus, the old saying, "Out with the old, in with the new." For owners that are going solo with the FSBO approach, it's a sinking ship.
... more
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Mon Apr 23, 2007
Rich Homer answered:
Interesting question and a local Realtor would know more. Try this link as well. www.city-data.com/crime/crime-Solvang-California.html
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Mon Apr 23, 2007
jo answered:
You want a good lender, go to the major banks...That would be my advice and one that I follow myself actually.
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Mon Apr 23, 2007
jo answered:
SHOP AROUND...just like with any MAJOR purchase, you have to put in some leg work so in the end you're not sorry with what you did when you see the bank next door maybe had the same rate, but no fees. ... more
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