Santa Barbara Real Estate Voice

Hope Ranch – Santa Barbara Real Estate Market Update 1st Quarter 2013

kevinschmidtchen — Fri, 19 Apr 2013 19:45:56 +0000

Our 2013 Santa Barbara real estate market has started off exactly where 2012 ended…strong in pretty much every area and in most every price point. One of our stronger areas is the Hope Ranch area, especially in the entry / lower level price point of around $1.3 to $2.75 million. Most everything is selling right away in this price point and the reality is that most any listing that is staying on the market in this price point is simply believed to be too high priced.

“Everything” priced at market is seeing offers and generally going into escrow.

In the higher end price points for the Hope Ranch area, the market tends to be a little slower right now, with roughly 26 properties on the market ranging in price from the $4 to $20 million price point.

Some quick Statistics for the 1st quarter 2013:

So far this year we have had 10 closed sales in Hope Ranch ranging in price from $1.475 million to $5.725 million
Currently there are 3 Hope Ranch properties pending sale
Currently there are 26 Active properties ranging from $1.8 to $32 million

Below is an easy to understand graph of the real estate trends in Hope Ranch over the last 4 years.

Santa Barbara - Hope Ranch Real Estate Statistics March 2013

View: Hope Ranch Real Estate Listings (MLS)

Further Reading:

Subscribe: Receive Personal Listings of Santa Barbara Real Estate

Search: The Santa Barbara Area MLS

For more information on Real Estate here in Santa Barbara, Montecito and/or our surrounding areas, as well as any other aspects of life in our wonderful town, please don’t hesitate to contact Kevin Schmidtchen at Sotheby’s Int’l Realty.

Thank you for reading. I hope you find Santa Barbara Real Estate Voice informative. Please feel free to contact me or comment below with any thoughts.

Montecito Real Estate – 93108 Zip Code Once Again Among The Richest in America at #3

kevinschmidtchen — Mon, 15 Apr 2013 19:58:52 +0000

High end sales are nothing new for Santa Barbara and our surrounding communities. Within Hope Ranch, Montecito and along the coastline, we see some very exclusive high end real estate sales each and every year. Many of these sales are topping out above the $10 million mark. I just read a recent article by CNBC, that once again ranks Montecito and 93108 as the 3rd rated zip code in America when it comes to the number of homes that are selling at $10 million or more. Over the last year, Montecito has seen 15 such home sales.

The real estate market has come roaring back here over the last 10-12 months (roughly up 20%). Our high end market has also seen just as strong of demand and nothing seems to be standing in its way as we continue to simply have strong demand across the board. Below are a few of the higher end sales over the last 12 months.

888 Lilac Drive, Montecito CA 93108 recently closed for $14.625 million. Inspired by the glamor and elegance of 1920s Paris, this breathtaking newer estate was designed with the highest quality to be low in EMFs and toxins while boasting endless ocean views, a prime yet peaceful Montecito location and unmatched sophistication. The 6 bedroom 8 bath home has a gym, two game rooms, media room, 1 bed guesthouse, swimmer’s pool, organic gardens, stone amphitheater and Wimbledon lawn.

Montecito High End Luxury Real Estate

815 Cima Del Mundo, Montecito CA 93108 recently closed for $23.5 million. This spectacular estate compound is set on 5+/- acres. The main residence is 12,000+/- Sq. Ft. 5 bedrooms, 6 full baths and 3 powder rooms, with ‘over the top’ ocean, harbor, mountain views. Pool, pool cabana, tennis court and 2 bedroom, 2 bath guest house. This is one of the most amazing estate properties to come on the Market in Santa Barbara/Montecito. Everything you could possibly want with privacy.

Montecito High End Luxury Real Estate

View: Santa Barbara and Montecito Real Estate $5-10 Million

View: Santa Barbara and Montecito Real Estate $10 Million Plus

Further Reading:

Subscribe: Receive Personal Listings of Santa Barbara Real Estate

Search: The Santa Barbara Area MLS

Thank you for reading. I hope you find Santa Barbara Real Estate Voice informative. Please feel free to contact me or comment below with any thoughts.

What Kind of Real Estate Does $1 Million and $2 Million Buy You In Santa Barbara and Montecito?

kevinschmidtchen — Tue, 09 Apr 2013 21:22:03 +0000

A few times a year I like to give updates on what you can expect for various price points in Santa Barbara and Montecito. Over the last few years this has changed quite drastically as the market first went down and now has come back up at such a strong pace.

Most homes today for example are worth on average about 20% more than they were just a year ago and so this leads to generally a decently different home. In Santa Barbara, if you are at the $1 Million price point and you adjust either way about $200,000, what type of home you can get changes a good amount. $200,000 increments tend to be the generic on seeing a solid difference in a homes worth (character, area, size etc.) espeically when you are talking values of around $700,000 to about $1.6 million.

Here is a quick view of some of the recent sales (last 2 months) we have had at both the $1 million and $2 million price point.

601 Calle Palo Colorado located in San Roque. This quintessential 3 bed, 2 bath home has many of its original charming elements while it has been thoughtfully updated for this day and age. Oak hardwood floors, abundant natural light and open floor plan fit todays lifestyle. A master suite with its own bathroom and office also makes the floor plan usable. This home was listed at $995,000 and sold for $1,020,000 within the first week of being on the market.

San Roque Real Estate

75 Chase Drive located in between Santa Barbara and Montecito. Fabulous mountain, canyon, city, ocean & island views! Great location toward the end of a cul de sac….home for sure needs some updating but has “good bones”. Large living room with open beamed ceiling & fireplace. 3rd bedroom has a fireplace and is used as a den. This home is about as nice of a view home as you can get for right around the $1 million price point. This home was listed at $995,000 and sold for $990,000 within the first week.

Santa Barbara View Home for $1 million

2150 East Valley Road - Located on one of Montecito’s most prestigious lanes, this pristine and romantic California Ranch estate embracing the essence and fuller appreciation of the Montecito lifestyle. Consisting of approximately 2,603 sq. ft. of living space on one level, this four bedroom, three bath home takes full advantage of its awe-inspiring mountain views on one side and stunning garden and creekside views on the other.

South-facing, the sun-drenched and light-filled home offers a living room with fireplace and views to both the gardens and mountains, a vast family room with dining area and fireplace, a chef approved kitchen with exceptional appliances, upscale designer finishes throughout and more. Recently remodeled with the highest standard of craftsmanship, there are seamless transitions between the interior and exterior spaces – perfect for entertaining or relaxing on the large patio shaded by oak trees on the mountain side and an inviting custom patio near the avocado orchard with views of the creek.

Situated just minutes to Montecito’s famed upper-village, beaches, parks and prestigious country clubs, this unparalleled offering spans 1.03 acres. The properties landscaping is breathtaking, with an abundance of mature oak, elm and avocado trees, flowering gardens, expansive lawns and meandering rock-lined paths. The land is mostly flat and offers ample room for a pool, spa and pool cabana. This beautiful home is located within the highly coveted Montecito Union elementary school district. This home was listed at $1,999,995 and sold within several weeks above asking at $2,175,000.

Montecito Real Estate - $ 2 million price point

Further Reading:

View: Santa Barbara Montecito Real Estate $1.75 to $2.5 million

View: Santa Barbara Montecito Real Estate $800,000 to $1.25 million

Subscribe: Receive Personal Listings of Santa Barbara Real Estate

Search: The Santa Barbara Area MLS

For information on Real Estate here in Santa Barbara, Montecito and/or our surrounding areas, as well as any other aspects of life in our area, please don’t hesitate to contact Kevin Schmidtchen at Sotheby’s Int’l Realty.

Thank you for reading. I hope you find Santa Barbara Real Estate Voice informative. Please feel free to contact me or comment below with any thoughts.

March 2013 – Santa Barbara Real Estate Market Statistics

kevinschmidtchen — Fri, 05 Apr 2013 22:01:40 +0000

Here is a summary of the latest statistics for the Santa Barbara real estate market for March 2013. Over the last several weeks we have seen a definite increase in inventory, especially in the Goleta area. Much of the new inventory has been in the $600,000 to $900,000 range. Buyers are still very active and almost all the inventory is selling off within days to only a few weeks. Prices in general still are on the climb, although it feels a little more stable just in the last few weeks.

Some of our strongest areas (because of lack of inventory) are the San Roque area, The Mesa area and the entry level in Hope Ranch around the $1.3 to $1.8 million mark. Homes that come up in these areas and that are prices at market are almost always seeing multiple offers.

Santa Barbara Real Estate Market Statistics March 2013

Further Reading:

Subscribe: Receive Personal Listings of Santa Barbara Real Estate

Search: The Santa Barbara Area MLS

Thank you for reading. I hope you find Santa Barbara Real Estate Voice informative. Please feel free to contact me or comment below with any thoughts.

Benefits of Pocket Listings Here in Santa Barbara and Montecito

kevinschmidtchen — Tue, 19 Mar 2013 20:37:43 +0000

What exactly is a Pocket Listing and why are they used?

1 of my 2 Current Pocket Listings - Santa Barbara

For various reasons, property owners will discuss with their agents the pros and cons of keeping their home for sale as a pocket listing. Not every pocket listing is treated the same and here in Santa Barbara and Montecito it really depends on the price point and activity of the market.

First…what is a pocket listing? A “pocket listing” is a loose term given to a home that is listed with a broker and for sale, yet it is not submitted into the MLS (and thus actively out to the public). It is known only via word of mouth and via phone calls so to speak and is thus sold “off the market”.

So why are they used and why would a seller not want the maximum exposure for their home via the MLS? Answers tend to be to test the market price, privacy and to not have all the time on the market of keeping your home ready to sell.

Pros:

Home owners will often ask for their home to be a pocket listing so that they can test the “market” price of their home without the full traditional marketing exposure. If the home gets good response and the sellers are happy with the few buyers that see the home and the offers that are submitted, then the strategy works for them.

Additionally, often pocket listings are used by sellers that do not want neighbors to know they are selling or are simply very private people and do not like the fact of having numerous people visiting their home. This can especially come into play for sellers that are well known to the public.

Lastly, with the market being very strong as it is today here in Santa Barbara and Montecito, having a pocket listing creates its own buzz about being “private” and finding something off the market. This alone can often lead to favorable offers for sellers and for quick transactions and not having to deal for sometimes weeks with your home being for sale.

Cons:

The negatives of having your home only as a pocket listing are that the MLS and the internet in general give you a potential audience of millions. Generally speaking, the larger the audience, the greater the possibility a buyer will surface offering most likely the highest possible price.

Further Reading:

Subscribe: Receive Personal Listings of Santa Barbara Real Estate

Search: The Santa Barbara Area MLS

Thank you for reading. I hope you find Santa Barbara Real Estate Voice informative. Please feel free to contact me or comment below with any thoughts.

Santa Barbara Real Estate – February 2013 Sales Inventory and New Listings Report

kevinschmidtchen — Fri, 15 Mar 2013 21:23:53 +0000

Here are the latest February 2013 statistics for Inventory, Listings and Sales here in Santa Barbara proper.

The number of new listings for February 2013 was 174, down 9.4% from the 192 listed in January, but up a little from the 165 listings in February of last year.

Overall, we are still dealing with lack of inventory, although we do seem to have improved here in certain segments of the market over the last several weeks.

As you look at the top graph below as a whole, you will notice the blue shaded area is the overall inventory levels and it is easy to see that this number is lagging behind the last few years a decent amount.

The bottom graph shows a comparison of property sales and prices here in Santa Barbara. February sales were up 22% compared to February a year ago and fairly even compared to January of this year. This lack of inventory again has also pushed up average prices with the median price for example up a very significant 35.9% from February 2012.

February 2013 Santa Barbara Real Estate Market Update

February 2013 Santa Barbara Real Estate Market Report

View: Santa Barbara MLS

View: Montecito MLS

View: Hope Ranch MLS

View: Goleta MLS

View: Carpinteria / Summerland MLS

Further Reading:

Thank you for reading. I hope you find Santa Barbara Real Estate Voice informative. Please feel free to contact me or comment below with any thoughts.

Subscribe to Receive Personal Listings of Santa Barbara Area Properties

Search the Santa Barbara Area MLS

New Listing – Wonderful Downtown Santa Barbara Town Home

kevinschmidtchen — Tue, 12 Mar 2013 21:32:53 +0000

Just Listed 527 West Pueblo

I am please to offer a wonderful new downtown town home located just 1 block from Cottage Hospital. This spacious and well cared for Spanish style 3 bed, 3 bath downtown condo has an attached extra large 1 car garage with lots of built in storage, quiet and small association, high ceilings and skylights, 3 patios/decks, open kitchen. Great location centrally located close to all that Santa Barbara downtown offers. Easy on and off the freeway. One bedroom & one bath are located on the ground level and 2 bedrooms and 2 baths are located upstairs. Fireplace in the living area and a nice patio set off the living space next to open green space and a seasonal creek.

Address: 527 West Pueblo #2, Santa Barbara CA 93105.

Asking Price: $620,000

New Santa Barbara Downtown Town Home

Santa Barbara Downtown Town Home

For more information, additional pictures or to see the property, please call Kevin at 805-689-6877. First Public open Thursday March 14th 10:00 a.m to 12:30 p.m. as well as Sunday March 17th 2:00 p.m. to 4:00 p.m.

2 New Downtown Pocket Listings Available Now

kevinschmidtchen — Fri, 01 Mar 2013 19:01:42 +0000

I have 2 new pocket listings just signed. Both will be going in the MLS in a few weeks (mid March), but can be shown already.

The first is located at 2110 De La Vina and is a 2 bed 2.5 bath town home with an attached garage. Smaller complex, close to downtown, good condition. Price will be right around $575,000.

The second is located 1 block from Cottage Hospital. Very clean condition, 3 bed 3 bath, high ceilings, attached garage, laundry, nice patios. Price will be around $625,000.

Kevin Schmidtchen

805-689-6877

2012 Santa Barbara Real Estate Year in Review

kevinschmidtchen — Thu, 07 Feb 2013 22:22:22 +0000

A little late to be doing a recap of the 2012 real estate market here in the Santa Barbara area, but with the last 5 weeks filled with a combination of my family getting sick, being extremely busy with work and the lack of sleep because of our new little baby…that is what unfortunately happens.

So what happened in 2012?

In hindsight it is now very clear to see that anyone who had the foresight to buy property from around October 2011 – April 2012 were able to time the bottom of our real estate market. In early 2012, you could pretty much pick from a bunch of listings in your price point and go make offers less than asking price on each one. Sellers were very happy to see any and all offers.

By June, the market really started to change and we were seeing some multiple offers starting to pop up and lack of inventory as all the listings that had been on the market were finally being sold. Combining this with the incredible low interest rates and our market completely changed from June 2012 until now…and is still moving in this upwards direction.

Since June, our market across the board has seen an increase in price from around 15-18%. This is true for condos as well as single family homes. The summer proved to be very strong and by Fall most buyers were realizing the market had completely changed and that any new listing was seeing offers within a few days.

“Pretty much all listings throughout the Fall that were sitting on the market were either simply priced way to high or had some serious issues”.

By late 2012, everyone knew the market was hot and that most likely we were not just seeing a “blip”. Who knows where and what 2013 will bring, but so far most everyone is convinced that we are simply going to see prices continue upwards to some extent and homes selling fast.

Hope that 2012 was a great year for you and your family. Whenever you have any real estate needs, please feel free to be in touch.

Santa Barbara Real Estate Market Update January 2013

kevinschmidtchen — Tue, 05 Feb 2013 22:28:31 +0000

No real change from the end of last year. As we “seemingly roll” here into 2013, the Santa Barbara real estate market continues to be very very strong with the overriding theme being the lack of inventory. Across the bulk (heart) of our market from $300,000 to $2,000,000, the lack of inventory is keeping prices strong and rising and buyers very ready as they know they have to sometimes write offers in as little as 1-3 days of a new listing coming on the market.

Here are the latest January 2013 statistics for the Santa Barbara real estate market. The graph below combines the monthly inventory of properties with new sales and listings. The number of new listings is up compared to last year, but still way below what we are used to and need in this market as buyers are outnumbering the inventory by a large extent.

Further Reading:

Thank you for reading. I hope you find Santa Barbara Real Estate Voice informative. Please feel free to contact me or comment below with any thoughts.

Subscribe: Receive Personalized Real Estate Listings of Santa Barbara Area Properties

Search: The Santa Barbara Area MLS