In This Issue:
LATEST & GREATEST... SANTA BARBARA REAL ESTATE SNAPSHOT: May 17 - June 13, 2010
New listings: 193 Price Improvements: 198 Pending: 126 (break down:) Sub $1million: 98 $1-2M: 19 $2-4M: 7 $4-8M: 1 $8M+: 1 Closed: 121 Off Market: 132 Back On market: 45
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.
Cost and Mortgage Tip When you are looking through housing magazines or meandering through open houses, here is a quick multiple to have in mind. For every $100,000 increase in home price, estimate $650 in extra monthly payments (mortgage, insurance and taxes). An increase of $300,000 will increase your monthly obligations by $1950. This from Jeff Bochsler of Bank of America.
Do It Their Way:What You Need To Know About Gen Y The traits of Echo boomers likely are familiar. Also referred to as Gen Y and Millennials, the members of this group are technologically sophisticated, are concerned about the environment, value social connections, are independent minded, and loathe the hard sell. • Of equal interest to the real estate industry is the group’s size and buying power. Depending on the organization crunching the numbers, statistics point to a generation that is about 70 to 80 million strong and born roughly between 1977 and 2002. • And despite the perception that they crave mobility and flexibility, its members do value homeownership. In fact, homeownership ranks among this generation’s top five priorities, according to a Pew Research Center report, Millennials, A Portrait of Generation Next. Bridging the Gap: The Joint Center for Housing Studies’ The State of the Nation’s Housing 2009 indicates that Echo boomers will help keep housing demand strong for the next decade and beyond. Thus, retooling your business to engage Gen Y may prove lucrative...Here are some ways to make sense of the Echo boomer research, along with some realworld scenarios that address this generation’s preferences. Urban Birds Gen Yers place a premium on urban environments. They like the bright lights and quick access to both work and fun, and 32 percent of the group have opted for city living, according to Pew. So if you’ve got such a setting, flaunt it. Video and photos emphasize the building’s artsy, creative environment and its amenity-packed surroundings, along with this captivating copy: “It’s a neighborhood where you can trade your car for a bike, walk for coffee, make some friends, and never see a yellow Hummer again. Pretty damn normal, yet really different for L.A.” The suburbs aren’t entirely left out of the equation. But the key to success is listening to prospects’ needs carefully and pointing them to areas of town featuring an urban vibe—mixed-use downtowns, multiple housing types, and walkability. Green Expectations: This generation grew up with a respect for the earth, and recycling is second nature. Be prepared to detail homes’ greenness, from recycled construction materials to efficient appliances. “Green is integrated into this generation’s lives,” comments Mark. Communal gathering spaces feed this generation’s desire to get together for everything from watching movies and sports to working out themselves and their pets. Captivating Events: To generate leads and sales, the Mark Company engages with Gen Y through social events, like wellness seminars, sake tastings, and movie screenings, at the buildings. Party-goers gain a sense of a building and salespeople are on hand to answer questions. But the strategy is subtle. Prospects don’t feel like they’re being held captive, nor are they subjected to a surprise dog-and-pony show. Picture Me: Is the target audience multicultural, athletic, outgoing, and vibrant? Be sure marketing materials reflect such faces. Talk to Me: Meeting this generation demands proficiency in social networking—Facebook, LinkedIn, and Twitter. After all, its members are the most wired of all generations, with 90 percent of Millennials in the Pew study reporting that they use the Internet and 75 percent saying that they’ve created a social networking profile. Moreover, they’re heavy users. More than half of social networking Millennials pay at least daily visits to such sites. Speed Demons: Yarrow says Gen Y craves speed, stimulation, and fresh information. It’s one reason Twitter is an ideal vehicle for frequently communicating bits of news, from open house announcements and interest rate changes to price reductions. Servant Versus Expert: Parents, teachers, and coaches have showered attention and praise on this generation. As a result, observes Yarrow, they want to feel cared for and heard. Moreover, their command of the Internet and access to information have made them resistant to blindly embracing experts. She says success requires taking an approach of “Tell me everything there is to know about what you’re looking for and let me see if I can be of service. Elyse Umlauf-Garneau is a freelance real estate writer.
Trees Increase Property Values:
Like electricity or water, trees are an important part of a community’s vital infrastructure. Trees can impact the purchase price of a home by as much as 20 percent, according to the U.S. Forest Service. When planted properly, they also can help homeowners reduce heating and cooling costs. A new, 6-minute video, “Community Trees: A Living Investment,” helps community advocates and residents to expand their depth of understanding about how trees impact property values, save energy, and make communities more livable. www.youtube.com/user/foreststewardship#p/u/1/KzEFl2wrVW8
COMMUNITY: Many people want to do a good turn for the environment but simply are overwhelmed by the flood of green data, products and services. Here are some picks to help you sniff out green businesses, cut the impact of commuting, and track home energy consumption:
Household:
• iRecycle (http://earth911.com/iphone/) -- Search among 110,000 recycling centers to dispose of everything from oil and paper to electronics.
CouponSherpahttp://www.couponsherpa.com/mobile-coupons/) and Youza (http://www.getyowza.com/) -- Delete the paper from coupon clipping by downloading coupons and present them digitally upon check out.
Commuting:
• Bike Your Drivehttp://www.rei.com/bikeyourdrive) --Find an incentive beyond gas savings to swap four wheels for two. The app calculates routes and your average speed, along with the calories you're burning. You also can geotag photos you shoot en route to your destination.
• AccuFuelhttp://www.appigo.com/accufuel/) -- Monitor fuel efficiency and zero in on the driving habits that affect your fuel efficiency. GreenMeterhttp://hunter.pairsite.com/greenmeter/) evaluates driving habits, along with computing gas and power use and the effect of things like speed, acceleration, and aerodynamic drag on your efficiency.
• AroundMehttp://www.tweakersoft.com/mobile/aroundme.html) and Nearby (http://platial.com/iphone/nearby) -- Locate venues around you. For example, find a movie, a sushi joint, or an emergency room close to where you're standing, rather than driving around randomly.
Home energy:
• Kill-O-Wattshttp://appadvice.com/app/330311949) -- Measure various appliances to see how much electricity they're consuming. Based on those figures, you can decide when and how much to use a given appliance.
• Green Charginghttp://appshopper.com/utilities/green-charging) -- Save power and energy by making sure you don't overcharge your mobile phone.
The Sustainability Project announces their new website and e-newsletter.
Plan Santa Barbara If you love Santa Barbara this is a meeting you shouldn't miss.
After years of development, environmental analysis and public review, the Santa Barbara General Plan Update will be discussed in joint Planning Commission/City Council hearings next Tuesday June 22, 6pm,Wednesday June 23, 1pm - 5pm in the David Gebhard Public Meeting Room at 630 Garden Street.
The General Plan is important because it sets out guiding principles for growth and development for the next 30 years. It's been 20 years since the last General Plan update; next week we help determine how Santa Barbara will look in the future.
Join us in standing before the policy makers of Santa Barbara and tell them: I want a city designed for people, not cars I want to live near where I work, shop and play I want more efficient buildings and lower energy bills I want increased density downtown and around transit corridors I want transportation options that allow me to get out of my car I know we can make a more sustainable Santa Barbara. Let you voice be heard. We can make a difference.
"Gen Y" and "Millennials" are the generation that is about 70 to 80 million strong and born roughly between 1977 and 2002. Gen Y wants: Convenience, connectivity, healthy work-life balance Gen Y places premium on walkability and convenience. One-third would pay more to be able to walk to shops, work, and entertainment. Two-thirds say living in a walkable community is important. More than one-half would trade lot size for proximity to shopping or to work.
COOL WEBSITE OF THE MONTH: We featured this website last month in our Community section and are highlighting it again because it's a super cool idea and the funding to make this idea a reality just passed! Last Friday the Santa Barbara County Board of Supervisors approved the 2010-2011 budget, thereby allocating the necessary $5M in funding to emPowerSBC! This accomplishment is very much due to the support you provided along the way, either at Board hearings, through letters to the Supervisors, or in personal meetings with County staff and decision makers. On behalf of the Community Environmental Council, where we believe emPowerSBC will help our County become Fossil Free by ’33, we’d like to THANK YOU for your dedication to this program. The program is now a reality and the County staff are busy finalizing details before they’re ready to accept applications. |  | Save The Date For Next Month: Tuesday, July 20th 6-8pm HobNob Tavern 21 W. Victoria Street www.greendrinks.org/CA/Santa Barbara to join email:
FOR SALE: 319 Consuelo Drive Duplex 3/2 & 2/1 $949,000 A very nicely updated duplex in San Roque with 3 bedrooms, 2 bathrooms and a fireplace on one side and 2 bedrooms, 1 bathroom on the other.
Private patios and yards with fruit trees and raised beds, two car garage and interior laundry hook-ups.
Central location to hikes, transportation, shopping and in the Hope School District. Open Sunday June 20, 2-4pm or by appointment with Elizabeth.
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:
VACATION RENTAL:
Casa San Miguel
Available to rent by the 3 nights/week/month.
3br/2ba remodeled home with roof top ocean view deck and jacuzzi 2 blocks to the beach.
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.
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