In This Issue:
LATEST & GREATEST... SANTA BARBARA REAL ESTATE SNAPSHOT: April 12 - May 16, 2010
New listings: 274 Price Improvements: 193 Pending: 184 (break down:) Sub $1million: 125 $1-2M: 34 $2-4M: 15 $4-8M: 5 $8M+: 4 Closed: 121 Off Market: 111 Back On market: 55
This is a look at statistics provided through the Santa Barbara Multiple Listing Service over the past month. They include single family residences and condos, from Carpinteria to Goleta.
INDUSTRY NEWS:
Early Spring Update
Two things typically occur every March, the beginning of spring and March Madness in college basketball. Well, spring has sprung and the real estate market has its own version of March Madness this year. There has been a sense of the market changing – in a good way. Two of the most impressive figures regarding this month’s market are the overall months of inventory which came in at 4.7 (see below for explanation) and the number of listings that went into escrow during March (143 listings). Both of those figures are records that are not surpassed by any other month in at least the last 2 years.
One indicator that economists typically use for watching the real estate market is the median sales price. This is the price that marks the point that half of all sales are above and half are below. The median sales price of single family homes and PUDs (planned unit developments) for March was $890,000 which is 8.5% higher than last year’s March median. That number is also about 17% higher than the median for the month of January. The year-to-date median is $811,250 compared to a year ago at this time when the median was $825,000. The difference between the two medians is nominal.
As mentioned above, our overall market is averaging a 4.7 months of inventory. “Months of inventory” refers to the number of months it would take to sell all available listings. The figure of 4.7 represents a very stable market, and includes single family homes, PUDs and condos. The figure for just single family homes and PUDs is 5.2 months of inventory while condos come in at 3.5 months of inventory. The Goleta area is the most active area at 2.9 months. Montecito is the least active at 13.5 months. Keep in mind that the numbers utilized to calculate these figures are relatively small. Large percentage swings can occur with just a few additional transactions. According to data that goes back to March 2008, this is the lowest months of inventory in the last two years, a sign that the market is gaining strength.
Another encouraging figure is the number of listings that went into escrow (referred to as “pending sales”). A total of 143 single family homes, PUDs and condos went pending during March. This is the highest in the last two years for a single month. The median for the pending sales of single family homes, is in the $900,000 range.
Condos are a different picture. The median sales price for condos in March was $417,500 which is almost 18% less than a year ago. Because many of these properties are considered affordable, 29 more units sold this year than last year in the same time period. There are 32 fewer new condo listings this year than last year. As mentioned above, there are currently only 3.5 months of inventory for condos. Perhaps with the dwindling supply, we may begin to see prices on these units begin to rise.
Economists say that a healthy housing market enforces a healthy economy. Let’s see if the beginning of our rosy spring continues on through the year! Written by Carol Kruckenberg of Village Properties
Home Star Energy Retrofit Act of 2010 Passes in House By a vote of 246 to 161 the House of Representatives today voted to approve the Home Star Energy Retrofit Act of 2010 (H.R. 5019), which authorizes creation of a national energy retrofit program for American homeowners. The vote marks a significant milestone in the progress of the bipartisan HOME STAR legislation, although it's important to note that the authorization bill passed today must be matched by the Senate, and followed up with an appropriation bill to allocate funds for the $6 billion program. "We applaud the U.S. House on the [bipartisan] passage of the HOME STAR legislation," Efficiency First chairman Mike Rogers said following the vote. "HOME STAR will create good American jobs in construction, manufacturing and related industries. It will help American homeowners improve the efficiency of their homes and save money. And it will provide a solid foundation for our country's energy policy and energy security. We encourage the Senate to act quickly to get the HOME STAR bill to the President's desk and get our workers back on the job." Efficiency First policy chair Matt Golden added that "Today's bipartisan passage of the HOME STAR bill in the U.S. House of Representatives shows how when industry, labor, business and environmental groups cooperate, we can find solution for America. HOME STAR will create hundreds of thousands of good quality jobs, while saving families money on energy bills. Efficiency First, representing companies in all 50 states employing over 150,000 American works, applauds Congress's leadership and vision on this important issue."
COMMUNITY: If you want to green your property, but can’t afford the upfront costs, the County of Santa Barbara wants to help. EmPowerSBC provides a convenient financing option to empower residents and businesses to green their property through energy efficiency, water efficiency or renewable improvements. These improvements can save money, enhance your property, create local jobs and, of course, help the environment … a win-win for you and the community.
EmPower SBC financing is available to all eligible residents of the County and each of the incorporated cities. By voluntarily opting to use emPowerSBC, property owners agree to pay back the financing through a property tax assessment over the course of up to 20 years Santa Barbara County developed emPowerSBC (Elective Municipal Programs to Optimize Water, Energy and Renewables) over the course of the last year with help from local stakeholders. The intent was to create a voluntary, incentive-based strategy to encourage the green retrofits and renewable installations that could boost the local economy, create jobs, and improve county-wide resource efficiency. More details and eligibile projects at
GET INVOLVED: 2010 Habitat for Humanity Tour of Green Homes
This Tour will benefit Habitat for Humanity of Southern Santa Barbara County and supports our mission of eliminating substandard housing in our community. The Tour will be held on Saturday, October 9, 2010 from 10:00AM to 4:00PM. You are officially invited to apply to have YOUR green home featured on the Tour!
What is the Tour of Green Homes?
The 2010 Habitat for Humanity Tour of Green Homes will educate the public about sustainable construction by presenting the latest in green building technologies and materials. The Tour will include six residential projects-including the Habitat for Humanity San Pascual Project site that will provide four homes for low income families. The Tour will showcase the latest in green building techniques and materials and will demonstrate ways that environmentally friendly construction methods and materials can be incorporated into any project depending on the goals and budget of the homeowner. Proceeds from the Tour of Green Homes (TOGH) will benefit Habitat for Humanity of SSBC, a 501(c)(3) non-profit organization.
Who goes on the tour?
We expect over 600 local Santa Barbara residents who are interested in learning about sustainable construction methods and techniques to go on the Tour. Since tour goers will be paying $25 per ticket, we expect that they will be eager to learn from experts about green building methods and services.
Who should consider applying to be a featured home sponsor?
Builders, contractors or architects who are interested in attracting qualified leads for new or remodel projects and those interested in getting a high amount of visibility during a popular community-wide event should apply. The featured home sponsors will be recognized as the best and most advanced green building providers in the Santa Barbara and Montecito area.
VOCABULARY LESSON: Forest Stewardship Council Here are the principles of FSC-certified forests: * Never harvests more than what grows back
* Protects biodiversity and endangered species
* Saves rare ancient trees
* Guards local streams
* Supports the local people
* Uses narrow skidding trails so as not to disrupt the rest of the forest
* Prohibits replacement by tree plantations
* Bans toxic chemicals
* Bans genetically modified trees (no GMO) In the first year under FSC, you map and inventory all of the trees and assess the biology and the streams. Then you make a sustainable plan that will do the least harm and mimic the natural life and death cycle of the forest. Trees do fall down naturally which we see while hiking! Sustainable Forestry Initiative Here is what is allowed under the industry's SFI standard: * Allows large clearcuts
* Allows logging close to rivers and streams that harms water supplies
* Allows use of toxic chemicals
* Allows conversion of old-growth forests to tree plantations
* Allows use of genetically modified trees
COOL WEBSITE OF THE MONTH:
Use Autodesk Homestyler free* online home design software to create and share home design ideas for your dream kitchen, room addition or interior design project. View floor plans and interior designs in 2D and 3D. Experiment with different styles. Save and share designs with friends. Make decisions with confidence. Create your dream home design then call your favorite local architect and licensed landscape designer to make it a reality! GREEN TEAM WEBSITE:
We are proud to be your Santa Barbara Green Team and ready to help you with all of your real estate needs. |  |
Cafe Buenos Aires
Tuesday May 18th 6-8pm
1316 State Street See you there...
FOR SALE:
Laurel Springs Ranch
2720 Painted Cave Road Santa Barbara, CA 93117 Reduced recently to $10,900,000
160 acre, 5 parcels Turn key retreat business, panoramic views lodge that sleeps 30, yoga studio, main house, multiple guest houses, spa, solar heated pool, barn, riding arena, pond, hiking trails, plentiful water, organic garden & more.
Retreat Center Website:
PENDING: Listed at $449,000 Stylish ground floor 1 bedroom + office, 1 bath condo in the prestigious Upper East! Ocean and city views, fireplace, private patio, and laundry inside unit. Small association. Terrific cul de sac location and close to several beautiful parks, and the finest of Santa Barbara's restaurants and shops!
BUYER NEEDS:
We have several clients looking to buy contemporary, green built homes. If you know any coming on the market soon please let us know. Price range $1.1 - $1.4mil.
VACATION RENTAL:
Casa San Miguel
Available to rent by the night/week/ month.
3br/2ba remodeled home with roof top ocean view deck and jacuzzi.
Features non-toxic cleaners, Natura mattresses, organic linens, energy efficient appliances and many more healthy/green details.
Book a stay at:
Your Referrals are always welcomed and appreciated!
Please forward this informative newsletter to all that are interested in:
Green Homes, Real Estate and a healthy lifestyle.
You can help us grow the green home movement in our community. www.SBGreenTeam.com |
