Everyone has heard this tip before and it pretty much always holds true.  Simply stated, consider the home’s exact location before you are won over by a spectacular interior.  Also, maybe look for the exact location you want and completely redo the home etc.  Do views and setting out way walking distance to the beach or vice versa?  Can you “bike home” from town and/or the beach? Etc.

Check Your Immediate Neighborhood

It is very obvious…when you purchase a home, you not only get a house, you also buy into a neighborhood.  Walk around the area at morning time, dinner time, night time etc. and think about whether the immediate neighborhood will suit you.  Even if the house feels perfect, strange neighbors next door or a school across the street can become bothersome to some?  Outside of this, Montecito is very manageable and getting to upper or lower village, schools, tennis and golf clubs for example is never more than a few minutes drive. Also, most homes in Montecito have a good amount of privacy.

Think “HOME” First

When purchasing a home here in Montecito, it is probably best not to imagine the dollar signs you might see the day you sell it.  Buy a home that would be great to live in first and think about its resale value second.  Plus, while home renovations tend to add value to your home and make it exactly what you want, they rarely recoup more than what was spent on them.

Think About Leaving Room to Grow and Expand

If you are currently single, a couple, thinking about kids, expecting a sibling to move back in etc., aim for a home that will be able to adapt to your needs as your life changes.  If you can not afford a home that will be able to accommodate your anticipated future needs, then quite honestly think about another home…unless you like moving a lot.  With regards to schools, both Cold Springs and Montecito Union have great reputations.  Also, there are numerous private school options such as Crane and Laguna Blanca.

When it Comes Time To Sell

While you hope to think of your new home as a home first, home prices in Montecito are what they are and therefore your home will also be an investment.  You should put at least some thought into how easy or difficult it might be to resell the home one day. 

View: Current Montecito Real Estate Listings up to $3 Million

View: Current Montecito Real Estate Listings $3 – $5 Million

View: Current Montecito Real Estate Listings $5 Million and Above

Further Reading:

1. Hope Ranch CA Real Estate Home Sales Statistics – 2009
2. Montecito CA Real Estate Home Sales Statistics – 2009
3. Santa Barbara Market Statistics
4. Birnam Wood Golf Course
5. Golf Courses in Santa Barbara
6. Santa Barbara Luxury Real Estate Articles
7. Santa Barbara Oceanfront Areas
8. The Secret of Santa Barbara and Montecito Oceanfront Property and Estates
9. The Exclusive Valley Club of Montecito

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.

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Here is a breakdown of the ultra luxury real estate activity here in 2010 as of August 28th (MLS Statistics):

• Current Active Listings $10 Million and above – 28
• Current Pending Sales of properties $10 Million and above – 10
• Closed Sales of properties $10 Million and above – 3

Note: If you are in this high end market, at any time there are several pocket listings for sale as well as closed sales each year.  Please feel free to contact me if you would like to learn about these pocket listings.

View: Current Listings $5-10 Million

View: Current Listings $10 Million and Above

Luxury Montecito and Santa Barbara Real Estate

Luxury Montecito and Santa Barbara Real Estate

Further Reading:

1. Top 10 Most Expensive Carpinteria Real Estate Sales 2009
2. Montecito Luxury Real Estate Sales – Statistics 2009
3. Hope Ranch Luxury Real Estate Sales – Statistics 2009
4. Santa Barbara Luxury Real Estate Sales – Statistics 2009
5. Montecito Luxury Real Estate
6. The Oceanfront Area – General Description and Information
7. Luxury Beach Front / Blufftop Real Estate Sales 2010

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.

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 the Santa Barbara area, please don’t hesitate to contact Kevin Schmidtchen at Sotheby’s Int’l Realty.

Subscribe: To Receive Personal Listings of Santa Barbara Real Estate

Search: The Santa Barbara Area MLS

“If you are underwater on your present mortgage you probably think refinancing is insane. But with the low interest rates available for homeowners with good credit it may make sense.

What is Cash In Refinancing?

Cash in Refinancing is the cousin of cash out refinancing that was all the rage in the early part of the century. With cash out refinancing you would refinance your mortgage to get money out of it to spend on other things.

With cash in refinancing you reverse the trend. Typically done by people who are slightly upside down on their mortgage, those that are doing a cash in refinance of their mortgage bring money to the table in exchange for getting a much better rate on their mortgage and saving money in the long run.

Who Would Do This?

Surprisingly, according to a report from Freddie Mac, 18 percent of refinances done in the first quarter of 2010 were cash in’s. If you are planning on staying in your home for the long term, the math makes sense. Lowering your interest rate will more than pay back your re-investment into the home. This especially makes sense if you have money sitting in a low interest savings account or an investment that you want to liquidate.”

Further Reading:

1. Google and Real Estate Search do not Quite Get IT!
2. Sotheby’s Int’l Realty – Santa Barbara and Montecito
3. Is My Realtor a Santa Barbara Neighborhood Specialist?
4. Is Zillow’s Zestimate a Reliable Guide to your Santa Barbara Home’s Value?
5. Working with a Blogging Realtor – Advantages
6. Are Trulia and Zillow the Best Place to Search for Santa Barbara Real Estate?

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.

Subscribe to Receive Personal Listings of Santa Barbara Real Estate

Search The Santa Barbara Area MLS

Further Reading:

1. Santa Barbara Market Statistics
   
2. Santa Barbara Photo Tour
3. Buyer’s Resources for the Santa Barbara area
4. Seller’s Resources for the Santa Barbara area

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.

Subscribe to Receive Personal Listings of Santa Barbara Real Estate

Search The Santa Barbara Area MLS

For some, the initial thought of not using and agent is simply to save $$ on commissions and thus the bottom line.  Reality is that most often an agent will end up saving you $$ than if you go about it alone.  Also, using an agent will also provide a much more enjoyable, professional and relaxing experience.

I have listed below just a few simple reasons why hiring a great agent should be your most important decision when selling your home.

1. Local Market Knowledge

   A great agent will be able to provide you with extremely detailed market information about the overall market trends, pulse of today’s market, the exact market in your neighborhood and finally your specific home.  It is not just a matter of comps, but also competition for your home and weekly market changes.  This should not be taken lightly and is crucial to setting the right price and marketing strategy to attract qualified buyers quickly.

2. Neutral Opinion on Your Home

   We all love our homes and are sometimes blind to only the good qualities about it.  A great listing agent will be able to move beyond this and tell you not only what buyers will love about your home, but what will also turn buyers away from your home.  The ability to provide quality critique is crucial to building a good first impression with buyers.  This is one of the toughest tasks for For Sale by Owners.

3. Marketing Expertise and Exposure

   This is as important as it gets.  Gone are the days of simply holding a few open houses, a basic print ad here and there and a few color fliers.  Although these are still important to some degree, if you are not connected within the real estate community as well as have the ability to plaster your listing everywhere online, then you are already at a huge disadvantage…which means losing $$.  The biggest advantage of using a great listing agent is the immense exposure that can be provided through the Multiple Listing Service, a true dominant web and email marketing strategy and the constant networking and promotion of your home at meetings, in the office, out on caravan, constant chit chat with other realtors etc.

Further Reading:

1. What Questions do I Need to Ask My Realtor?
2. Sotheby’s Int’l Realty – Santa Barbara and Montecito
3. Is My Realtor a Santa Barbara Neighborhood Specialist?
4. Articles on Luxury Real Estate
5. Articles on The Oceanfront Areas
6. Articles for Foreign Buyers/Sellers
7. Santa Barbara Market Statistics
8. Santa Barbara Photo Tour
9. Buyer’s Resources for the Santa Barbara area
10. Seller’s Resources for the Santa Barbara area

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.

Subscribe to Receive Personal Listings of Santa Barbara Real Estate

Search The Santa Barbara Area MLS

Slated to be a mixed-use condo project located at the site of the old Von’s supermarket behind The Historic Arlington Theater, tentative plans call for 37 condominiums, a market and a commercial space.  The new development is proposed to be approximately 100,000 square feet with the max hight standing at 44-feet high as well as an underground garage with 78 parking spots.  Of the 37 units, 32 are proposed to sell at market rate and 5 will be designated affordable housing.

Below I have broken down these closed sales into price points for comparison of the last 2 years and to see how our upper end real estate market has really started to stabilize and rebound here in the Hope Ranch area in the last several months.  Note: Historically there simply are not as many sales in our high end area of Hope Ranch as compared to our other high end areas in town.

First 6 Months Comparison 2009 vs. 2010

Sales $1 Million to $3 Million

Hope Ranch Real Estate - Santa Barbara CA

• 2009 – 5 Sales
• 2010 – 5 sales

Sales $3 Million and Above

• 2009 – 2 Sales
• 2010 – 5 Sales

View: Current Hope Ranch Real Estate Listings up to $3 Million

View: Current Hope Ranch Real Estate Listings $3 – $5 Million

View: Current Hope Ranch Real Estate Listings $5 Million and Above

Further Reading:

1. Montecito Real Estate Sales – First 6 Months 2010
   
2. Hope Ranch CA Real Estate Home Sales Statistics – 2009
3. Montecito CA Real Estate Home Sales Statistics – 2009
4. Santa Barbara Market Statistics
   
5. Santa Barbara Photo Tour
6. Buyer’s Resources for the Santa Barbara area
7. Seller’s Resources for the Santa Barbara area

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.

Subscribe to Receive Personal Listings of Santa Barbara Real Estate

Search The Santa Barbara Area MLS

With the real estate market finally stabilizing in most every area here in the Santa Barbara area over the last 6 months, most of Carpinteria prices have fallen around 30-35% from the peak in 2006/2007.  This means a drop in prices back to roughly 2002/2003 price points.

So what does $350,000, $500,000 or $1 million buy you these days in Carpinteria?

Recently Closed Real Estate in Carpinteria for $365,000

2 bedroom Beachwalk condo in a great location. Walk to downtown shopping, theater, restaurants, and the local Carpinteria beaches. Previous updates throughout, beautiful floors, fireplace, and a detached 1 car garage.  Listed at $364,900, this unit located at 4804 Sawyer Avenue closed at $350,000 after being on the market for only a few weeks.

Carpinteria CA Real Estate

Recently Closed Real Estate in Carpinteria for $500,000

” FIXER”  One of the nicer streets in Carpinteria, located near the end of a quiet cul-de-sac with mountain views.  Close to beaches, parks and close proximity to 101 freeway.  Once no longer imaginable, many single family homes are now priced at the $500,000 to $600,000 price point.  This home is located at 1486 La Paloma Drive, Carpinteria CA, 03013 and was listed at $585,000 and closed at $495,000 after being on the market about 1 month.

Carpinteria Real Estate - Single Family Home

Recently Closed Real Estate in Carpinteria for $1,000,000

Gated entry with panoramic mountain views on almost 1/2 acre, located on a knoll, a few blocks to the beach and shopping, flagstone patio and lots of fruit trees.  Roughly 2000 sq. ft. with 3 beds and 2 baths, located at 5575 Retorno Street, this home was listed at $1,150,000 and closed at $965,000 after being on the market for roughly 2.5 months.

Carpinteria Real Estate - Peek Ocean Views

View: Current Real Estate Listings in Carpinteria CA.

Further Reading:

1. Carpinteria CA Luxury Real Estate Sales Statistics – Through Sept 15, 2009
2. Things to do in Carpinteria CA
3. Carpinteria – General Description and Information
4. Santa Barbara and Carpinteria Market Statistics
5. Santa Barbara and Carpinteria Photo Tour
6. The Oceanfront Area – General Description and Information
7. Santa Barbara Photo Tour
8. Any Great Deals on Homes in Foreclosure
9. Potential Negatives to Buying Santa Barbara Homes in Foreclosure
10. Are Short Sales a Good Path to Santa Barbara Real Estate Ownership?
11. Buyer’s Resources for the Santa Barbara and Carpinteria area
12. Seller’s Resources for the Santa Barbara and Carpinteria area

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.

Subscribe to Receive Personal Listings of Santa Barbara Real Estate

Search The Santa Barbara Area MLS

Below I have broken down these closed sales into price points for comparison of the last 2 years and to see how our upper end real estate market has really started to stabilize and rebound here in Montecito in the last several months.

First 6 Months Comparison 2009 vs. 2010

Sales up to $1,000,000

Beautiful Montecito Real Estate

• 2009 – 6 Sales
• 2010 – 12 Sales

Sales $1 Million to $3 Million

• 2009 – 31 Sales
• 2010 – 36 sales

Sales $3 Million to $5 Million

• 2009 – 11 Sales
• 2010 – 12 Sales

Sales $5 Million to $7.5 Million

• 2009 – 4 Sales
• 2010 – 3 Sales

Sales $7.5 Million and Above

• 2009 – 3 Sales
• 2010 – 9 Sales

View: Current Montecito Real Estate Listings up to $3 Million

View: Current Montecito Real Estate Listings $3 – $5 Million

View: Current Montecito Real Estate Listings $5 Million and Above

Further Reading:

1. Hope Ranch CA Real Estate Home Sales Statistics – 2009
2. Montecito CA Real Estate Home Sales Statistics – 2009
3. Santa Barbara Market Statistics
   
4. Santa Barbara Photo Tour
5. Buyer’s Resources for the Santa Barbara area
6. Seller’s Resources for the Santa Barbara area

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.

Subscribe to Receive Personal Listings of Santa Barbara Real Estate

Search The Santa Barbara Area MLS

Often people will base their decision on which Realtor to use by whom they feel the most comfortable working with, whom they know personally and/or which Realtor is a great referral from someone they trust.  All of these are logical and good criteria.  As importantly, you need to look at the following criteria before making your final decision.

1. How long has your Realtor been selling real estate and are they a full time agent?

2. How much real estate did your Realtor sell last year?

3. How many homes has your Realtor sold in your area?

4. Does your Realtor have a good portfolio of other listings they have sold?

5. How well does your Realtor know the area?

6. Does your Realtor have a specific marketing plan in mind?

7. Does your Realtor have a terrific Internet strategy and how comfortable are they online?

Everyone needs to start somewhere, but now that I am over this hump and have been in the business for 10 years, I can speak realistically about what I knew in my first years.  Believe me, experience and being a local is more than huge.

Make sure you are comfortable with quality answers to all the above questions.

One key for anyone in today’s market is to realize that the vast majority of buyers use the internet as an information resource when searching for their next home.  Because of this, your agent needs to have comfortably embraced the internet from both a buyer and seller perspective.  Ask to see their personal website(s), blogs, auto email listings etc. and truly understand how your Realtor will work for you in your next real estate transaction.

Further Reading:

1. Sotheby’s Int’l Realty – Santa Barbara and Montecito
2. Is My Realtor a Santa Barbara Neighborhood Specialist?
3. Articles on Luxury Real Estate
4. Articles on The Oceanfront Areas
5. Articles for Foreign Buyers/Sellers
6. Santa Barbara Market Statistics
7. Santa Barbara Photo Tour
8. Buyer’s Resources for the Santa Barbara area
9. Seller’s Resources for the Santa Barbara area

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.

Subscribe to Receive Personal Listings of Santa Barbara Real Estate

Search The Santa Barbara Area MLS