The numbers are in for the first half of 2023, and the Santa Barbara South Coast real estate market remains tight in terms of inventory and well in favor of sellers, as there is simply more buyer demand than homes available for sale. Accordingly, the number of sales is down 32% over last year, with […]
When California voters passed Proposition 19 in November of 2020, many questioned why the Real Estate industry supported a law that eviscerated the “parent to child exclusion” (from property tax reassessments) in most cases. Well, like the Stones’ “Satisfaction” and the Beatles’ “Revolution,” the B side of this new law outshined side A. While Prop […]
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Montecito… Hot as a Pistol Montecito’s commercial market has remained one of the bright spots on the South Coast. It seems as though Montecito is immune to rising interest rates or troubles that have bogged down other areas like downtown State Street. We are currently seeing all-time high lease rates and sale prices in Montecito. […]
Many Santa Barbarians, Montecitans, and Los Angelenos have caught on to what Santa Ynez Valley locals have known for decades: livin’ is good in the SYV. With several unique areas from which to choose, each with their own culture, lifestyle, and merits, it’s no wonder that residency in the Valley has exploded over the past […]
More and more we see clients that are asset rich yet “qualified income” poor, which just means that they have done a good job saving and accumulating wealth, and now live off their accumulated wealth and investments. The definition of “qualified income” specifically pertains to a calculation based off their tax returns as reported usable […]
“Buy land, they’re not making it anymore.” – Mark Twain Over the long run, Montecito real estate has been an excellent investment. Indeed, price growth has averaged about 8% per annum over the past five years versus 7% for the greater Santa Barbara area and 6% nationally. These price premiums of Santa Barbara and Montecito […]
A great deal has happened since the late 1960s when the first reverse mortgage was issued to a high school teacher by one of her former students. Back then, what began as privately issued reverse mortgage loans ultimately became insured by the Federal Housing Authority in the 1980s and gradually saw the birth of proprietary “JUMBO” […]
Well, it’s just about the start of summer, or almost. Solstice is next week and don’t even get me started about the May gray and the June gloom, oops, too late. But on a sunnier note, let’s start with Montecito Real Estate stats, about as good a place to start as any. As I reported […]
If you are looking for a significant estate in Montecito and are willing and comfortable paying over $10,000,000 to get it, I would in normal years have 25 or 30 homes to show you, most of them in the $10 to $20 range… million that is. However, in the aftermath of the estate rush that […]
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It’s 2023 and it already feels like a different world. So much steady rain filling reservoirs, cleaning streets (into the ocean sadly), giving us something to really celebrate in the new year. They say that when it is raining is actually a great time to see a home you are considering buying. Watching how the […]
The Montecito real estate market is still defined by high prices and low inventory. By the time this article hits the newsstands or your screen, it may indeed be Winter already, technically by the calendar anyway. However, it’s been cold like winter for a while now. Glad to have rain and weather. Local residents (and […]
We are experiencing a home remodel and new building renaissance in Montecito that I have not seen in my 20 years living here, nor in the 20 years prior when I would visit family in the area. Very few blocks are without construction of some sort. One thousand (give or take) new homeowners have bought […]
The calendar may say that we are heading into fall, but the Montecito Real Estate market is not falling at all, not here in the 93108. It seems like full steam ahead for buyers looking to become part of this community. Taking a quick look back at August, there were only 12 sales reported in […]
As it enters its 26th year of business, Village Properties is celebrating an astounding $20 billion in gross sales volume. But the Santa Barbara County-based firm’s leaders say an even more meaningful number is 12,900, which reflects how many times they have paired people with a perfect space and represented sellers in maximizing property value. […]
