Santa Barbara Real Estate Statistics 10/31 - 11/6

New Listings: 48

Price Improvements: 46 

Pending: 32 breaks down to:
     Under $600k: 13
     $600-800k: 6
     $800k-1 million: 5
     $1-2 million: 4
     $2-4 million: 2
     $4-8 million: 0
     $8 million+: 0

Closed: 21 breaks down to:
     Under $600k: 9
     $600-800k: 6
     $800k-1 million: 2
     $1-2 million: 1
     $2-4 million: 1
     $4-8 million: 1
     $8 million+: 1

Off Market (expired, canceled, withdrawn):  40

Back On Market: 13

Buy vs. Rent

Being a homeowner is more than just having a roof over your heard.  Home ownership instills a feeling of comfort, security, stability and pride.

However, in addition to these important benefits are substantial social benefits for families, communities, and the country as a whole.  A few of these benefits are:

Higher Academic Achievement
More Cohesive Communities
Better Connected Families
Improved Health & Safety
Stronger Economy

Higher Education
One of the most important social benefits of home ownership is how it affects the children and their academic achievement.  Several studies show that there is direct correlation between home ownership and educational achievements.  Time and time again, it has been proven that home owners are more involved in their children's lives, especially when it comes to schooling.  Better social outcomers arise as parents provide a more supportive environment for their children.

Another benefit is that home owners tend to move less often than renters.  This stability adds to a child's success in school.  A study by the New York Federal Reserve Bank found that "though home ownership raises educational outcomes for children, neighborhood stability further enhances the positive outcome.

More Cohesive Communities
Home owners tend to stay in their homes longer than renters.  They also spend more money to improve their home and are more engaged in enhancing the community.  Simpy put, home owners care more and take more action. Which leads to nice neighborhoods, stronger communities and more overall involvement in civic duties. 

Better Connected Communities
Along with being more involved in their communities, home owners are more active and connected to their own families.  Volunteering at schools, coaching athletic teams, becoming a scout or troop leader are just some of the types of activities home owners are active in.  Throw in simple things like family game night and your home becomes the perfect setting for a more- connected, happier family.

Improve Health & Safety
Home owners are happier and healthier than non-owners.  In fact, one study found that people who recently became home owners reported higher life satisfaction, higher self esteem, and higher perceived control over their lives.  In addition to being more satisfied with their own personal situation than renters, home owners also enjoy better physical and psychological health.  Home owners have a  financial stake in the value of their home.  Therefore, owners have more incentive to deter crime by forming and implementing voluntary crime preventation programs.  Home ownership also contributes to stable communities, and stable neighborhoods contribute to reduced crime rates.

Stronger Economy
Being a home owner also has a positive economic impact in your neighborhood, your town, your city and even on a national level.   That's because home ownership creates jobs:  remodeling, landscaping, lawn and pool service, furniture and appliances, home improvement, real estate services.  The list goes on and on.  In fact, each home purchase generates as much as $60,000 of economic activity in the local and surrounding area.

Thrive Westside Neighborhood Initiative: Creating a Better Westside Together

• Do you live on Santa Barbara's Westside?
• Do you have children in a Westside school?
• Do you work or volunteer on the Westside?
• Do you want to see a better Westside with excellent schools and vibrant neighborhoods?

If you answered yes to any of the questions above, please join Just Communities in the Thrive Westside Neighborhood Initiative.

Thrive Westside is a concentrated effort to ensure the success of every child and every family on the Westside.  The centerpiece of Thrive Westside is a collaboration between Harding University Partnership School, McKinley Elementary School, La Cumbre Jr. High, San Marcos High School, Just Communities, numerous local foundations, local nonprofit organizations people who live, work, and go to school on Santa Barbara's Westside.  This collaboration is designed to improve Westside Schools and strengthen Westside neighborhoods.

This November through December, Just Communities & Thrive Westside will engage 100-150 people who live, work, go to school, or send their children to schools, on the Westside in a "Dialogue to Action" process. Through this process, they will build a shared vision for the Westside and create concrete action plans to make their vision a reality.

At the end of the dialogue process, all participants will come together for a one-day "Action Summit."  There, they will share ideas, prioritize strategies, and develop finalize their action plans.  The One Nation Foundation has generously donated $10,000 to help community members fund the neighborhood improvement strategies they agree upon during the Summit.

To register on-line, click one of the following links:  

Register On-Line in English 

Register On-Line in Spanish 

To learn more, download the attached information packet containing a flier, registration form, and answers to frequently asked questions (FAQ) - also attached in English & Spanish.  You can also access these files on-line at:

English Information Packet - Thrive Westside 

Spanish Information Packet - Thrive Westside 

Finally, we are holding bilingual (Spanish & English) information sessions on the following dates/times:

• UCSB Gevirtz School of Education (Conference Room #4108): Wednesday, October 12th 12:15pm to 1:00pm  
• La Cumbre Jr. High School:  Wednesday, October 12th 6:00pm to 6:45pm (free childcare provided)  
• La Cumbre Jr. High School:  Thursday, October 13th 6:00pm to 6:45pm (free childcare provided)

You can also contact Daniel Elenes at delenes@justcommunitiescc.org or 805-966-2063.

Santa Barbara Real Estate Statistics 10/24 - 10/30

New Listings: 35

Price Improvements: 52

Pending: 39 breaks down to:
     Under $600k: 17
     $600-800k: 8
     $800k-1 million: 4
     $1-2 million: 9
     $2-4 million: 1
     $4-8 million: 0
     $8 million+: 0

Closed: 21 breaks down to:
     Under $600k: 12
     $600-800k: 4
     $800k-1 million: 2
     $1-2 million: 2
     $2-4 million: 1
     $4-8 million: 0
     $8 million+: 0

Off Market (expired, canceled, withdrawn): 26

Back On Market: 15

Average Rental Rates

At a recent economic update the brokers went over some rental averages for Santa Barbara and I thought they were interesting to post:

1 Bedroom: $1250

2 Bedroom: $1824

3 Bedroom: $2,357

Anyone want to stop paying someone else's mortgage and look into options for having your own?  If so, please let me know and I can put you in touch with a lender to get the conversation started.

Santa Barbara Real Estate Statistics 10/10 - 10/23 * 3 Weeks Worth

New Listings: 85

Price Improvements: 87

Pending: 54 breaks down to:

     Under $600k: 18

     $600-800k: 16

     $800k-1 million: 8

     $1-2 million: 7

     $2-4 million: 1

     $4-8 million: 3

     $8 million+: 4

Closed: 55 breaks down to:

     Under $600k: 22

     $600-800k: 16

     $800k-1 million: 7

     $1-2 million: 7

     $2-4 million: 3

     $4-8 million: 0

     $8 million+: 0

Off Market (expired, canceled, withdrawn): 54

Back On Market: 22

30 S. Salinas Street Has Been Reduced Again $449,000

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Team Wagner Update!

Here is what is new in the Wagner household!  

 Cruising in my wagon!

 Ready for literature!

 Tough Guy!

 Lane Farms Pumpkin Patch!

 Such a big boy, sitting is his green chair!

Ummm...yeah he is now climbing EVERYTHING!

Not loving his new Owl hat...

Van Jones "Green for All - The New American Economy"

Event Date:

Saturday, October 29 7pm - 8:30pm

Location:

Marjorie Luke Theater

Contact:

Tickets are available at the Lobero Box Office, on-line at Lobero.com or call 805.963.0761.

Website:

http://loatree.com/2011/08/25/loatree-pres...nomy/

A benefit event for sustainable vocations. Presented by LoaTree in partnership with Quail Springs Permaculture, also sponsored by the Community Environmental Council.
Nationally renowned speaker and Green Economy expert Van Jones presents, Green for All: The Next American Economy, on Saturday, October 29th at the Marjorie Luke Theater. Proceeds from the event will benefit Sustainable Vocations, a sustainability and leadership training program for young people.

Van Jones is a globally recognized, award-winning pioneer in human rights and the clean-energy economy. Van is co-founder of three successful non-profit organizations: the Ella Baker Center for Human Rights, Color of Change, and Green For All. He is the best-selling author of the definitive book on green jobs: The Green-Collar Economy. Van also served as the Green Jobs Advisor to the Obama White House in 2009.

Van also holds a joint appointment at Princeton University, as a distinguished visiting fellow in both the Center for African American Studies and in the Program in Science, Technology and Environmental Policy at the Woodrow Wilson School of Public and International Affairs.

Warren Brush, Co-Director of Sustainable Vocations, states, "We are deeply honored to have the support of Van Jones. His vital message is directly aligned with Sustainable Vocations' goal to prepare and empower young leaders for the rise of the Green Economy and sustainable living."

This lecture is made possible due to early and strong support from The Fund for Santa Barbara and Santa Barbara City College's Center for Sustainability. The event is presented by LoaTree, an ecolifestyle and services company.

Tickets are available at the Lobero Box Office, on-line at Lobero.com or call 805.963.0761.

About Sustainable Vocations: A program of Quail Springs Permaculture, Sustainable Vocations prepares youth (ages 15 – 24) for diverse leadership roles that integrate sustainability into their lives and communities. This timely program provides an unique, hands-on introduction to the expanding green jobs market, appropriate technologies and sustainable living skills. In the process, graduates earn an internationally recognized Permaculture Design Certification and enhance their employment opportunities while helping to create a more sustainable future for us all. www.sustainablevocations.org

Santa Barbara Real Estate through the end of September 2011

Each month a very generous colleague, Gary Woods compiles all the Santa Barbara Multiple Listing and Cort sales data and provides many of us in the real estate industry with a synopsis of the current market. Thank you Gary, as always your expertise and data is very appreciated!   
 
For the Home Estate/PUD market of Santa Barbara, Montecito, Hope Ranch, Carpinteria, Summerland and Goleta after seeing a rise in the numbers of sales each month from June to August, September 2011saw a decline in the numbers of properties sold down to 85 from the high of 97 the previous month. The median sales price did go up however to $800,000 from $739,000 in August but, the average sales price declined from approximately $1.2 milllion in August to about $1.178 million in September.
 
The reason for the rise in the median sales price was a decline in sales below $1 million to 53 September from 67 in August while sales from $1 to $2 million rose from 17 to 23 for the month. Sales above $2 fell off markedly however to 9 down from 10 with 1 transaction over $5 million.
Escrows also declined in September down to 79 from 108 in August and the median list price on those escrows fell from $809,000 in August to $729,000 in September. The decline in both the median list price of escrows and median sold price on closed homes can be tied at least in part to the decline of the FHA maximum loan amount which was $729,000. That maximum loan amount supported the $850,000 median sales price which held stable through ’09 and ’10.
 
 Looking at the Districts, Carpinteria/Summerland sales are up 14% from 55 to 64 and the median sales price is up from $662,500 to $716,250. The numbers of escrows are also way up going from 52 to 71 with the median list price on those escrows rising from $679,000 last year to $705,000 this year.
For Montecito, sales are up by 16% going from 110 to 128 with the median sales price dropping from $2.4 million to $2.227 million. Escrows are up 26% going from 115 to 146 but the median list price on those escrows is down from $2.562 million to $2.25 million.
 
East of State St sales are down 1% going from 186 to 183 and the median sales price is down from $929,500 to $900,000. The escrows are up by 6% however going from 199 to 211 with the median list price on those escrows dropping from $989,000 last year to $929,000 this year.
 
West of State St sales are up 10% from 143 to 158 but the median sales price is down from $800,000 to $680,000. The numbers of escrows are also up with 154 in ’10 to 171 in ‘11 but the median list price on those escrows is down from $817,000 last year to $699,950 this year.
 
   Hope Ranch sales are up from 14 to 22 but the median sales price is down from $2.675 million to $1.9 million. The numbers of escrows are also up from 16 to 23 but the median list price on those escrows is down from $2.9 million to $1.995 million.
 
  Goleta South sales are down 25% from 79 to 60 and the median sales price is down from $675,500 to $600,000. The numbers of escrows are up however from 73 to 77 with the median list price on those escrows declining from $727,000 to $577,000.
   
Goleta North sales are also down from 124 to 122 with the median sales price dropping from $705,000 to $660,000. The numbers of escrows are up however from 128 to 139 with the median list price on those escrows falling from $729,000 to $663,000.
 
The year over year numbers have sales about 4% above where they were last year at this time and the numbers of escrows about 15% ahead of last year’s pace. But, the median sales price has fallen down to $815,000 from $850,000 the previous year. If sales from $1 to $2 million become more prevalent the yearly median sales price will come up a little but the trend at this time is still downward with about a 4% drop for the whole area from where it was last year and without Hope Ranch and Montecito it’s down about 8%. 
 
For the condo market September sales remained strong with 39 properties closing escrow up from August when there were 38 and the median sales price rose to $445,000 from $436,449 for the month. The numbers of escrows fell however to 32 from 39 in August but the median list price on those escrows rose dramatically from $379,990 to $464,000 in September.
The days on the market for condos that closed escrow went back up to the mid 80s from the mid 60s in August but the Sales Price to Original List Price Ratio remained strong in the 90^th percentile.             
With the numbers of escrows coming in at the low 30s for the month the year over year numbers again have escrows trailing the previous year but only by 2. The numbers of sales are still about 9% behind where they were last year with the median sales price down about 3% to $425,000 from $437,000 last year.

The Condo inventory remains at about 140 available properties from Carpinteria to Goleta with the median list price for those properties coming in at around $505,000 and the average list price showing up at about $695,000.
 
Looking at the Districts, Carpinteria/Summerland sales are down from 45 to 44 with the median sales price falling from $385,000 to $359,450. The numbers of escrows are also down falling from 50 to 47 and the median list price on those escrows is down from $409,450 to $369,000.
 
Montecito condo sales are up from 14 to 19 with the median sales price down from $1,022,500 to $818,750 and the numbers of escrows are up from 18 to 19 with the median list price on those escrows down from $1,075,000 to $998,000.
 
East of State St sales are down 20% from 55 to 45 with the median sales price rising from $475,000 to $518,750 but the numbers of escrows are up going from 52 to 60 with the median list price on those escrows dropping slightly from $519,725 last year to $495,000 this year.
 
West of State St sales are down 13% from 59 to 51 with the median sales price falling from $495,000 to $439,000. The escrows are also down from 70 to 62 with the median list price on those escrows falling from $517,000 to $429,000.
 
Goleta South sales are up by 7% from 38 to 42 with the median sales price down just a little from $370,000 to $365,000. The numbers of escrows are up 29% from 37 to 48 with the median list price on those escrows down from $372,900 to $350,000.
 
Goleta North sales are down 3% from 30 to 29 with the median sales price down from $408,500 to $360,000. The escrows are also down from 39 to 29 with the median list price on those escrows falling from $419,000 to $349,500.
            
Despite the numbers of home sales falling in September the outlook for the rest of the year remains strong because of all the escrows that are still currently open. The median sales price and median list price on those escrows is trending down however with the majority of the activity still coming in the $450,000 to $750,000 range.
 
On the other hand, condos appear to be moving forward currently with even a slight upward movement in prices. Both extremes in condo pricing had a substantial amount of activity in September with 3 sales below $200,000 and 4 sales above $1 million while the majority of the action centered in the $400,000 to $550,000 range.
  
With Single Family Home escrows still about 15% ahead of last year sales should be strong through the end of the year and even though the numbers of condo sales remains about 9% behind where it was last year the numbers of opened condo escrows also point to a good finish for 2011.