Weekly Real Estate Snapshot 1/17 - 1/23

New Listings: 52

Price Improvements: 30

Pending: 29 breaks down to:
     under $1 million: 16
     $1-2 million: 6
     $2-4 million: 6
     $4-8 million: 1
     $8 million+: 0

Closed: 16 breaks down to:
     under $1 million: 12
     $1-2 million: 2
     $2-4 million: 1
     $4-8 million: 0
     $8 million+: 1 *2549 Sycamore Canyon Road for $15,310,000

Off Market (expired, canceled, withdrawn): 23

Back On Market:  8

Community Environmental Council Breakfast Invitation

Weekly Real Estate Snapshot 1/10 - 1/16

New Listings: 55

Price Improvements: 23

Pending: 12 breaks down to:
     under $1 million: 9
     $1-2 million: 2
     $2-4 million: 1
     $4-8 million: 0
     $8 million+: 0

Closed:  12 breaks down to:
     under $1 million: 7
     $1-2 million: 4
     $2-4 million: 0
     $4-8 million: 0
     $8 million+: 0

Off Market (expired, canceled, withdrawn): 28

Back On Market: 6

2011 Is Off To A Great Start!

Santa Claus brought someone a new cruiser bike for Christmas...and she is riding it in her favorite "alley" in Santa Barbara.

The posts lately had been filled with stats, that is was time for a fun one!

January Santa Barbara Green Team Newsletter

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In This Issue: Santa Barbara Real Estate Snapshot: 2010 Real Estate Synopsis Monthly Statistics Industry News:  Remodeling magazine's 2010-11 Cost vs. Value Report Tax Incentives Assistance Project Community: Santa Barbara Film Festival Get Involved: Go see "Gasland" Vocab Lesson: Urbanism Cool Website:   www.greenmap.org Happy New Year 2011 (woot woot!) Wishing you a year filled with happiness, peace and abundance, plus lots of giggles, a myriad of adventures and plenty of house buying and selling! Your Realtors, Elizabeth  & DeAnn LATEST & GREATEST... 2010 Real Estate Synopsis Courtesy of stat guru, Gary Woods: For the greater Santa Barbara area including Carpinteria/Summerland, Montecito, Hope Ranch and Goleta. Sales of single family residences finished 2010 about 7.6% ahead of where they were in 2009 just nosing over the 900 units sold mark. But, the median sales price was just barely ahead of the ’09 number finishing the year at about $850,000 only $5,000 up from ’09. The average sales price moved a little farther ahead however finishing the year at around $1.46 million up from $1.4 million in ’09. Escrows were also up for the year rising from 869 in ’09 to 922 for ’10 for a 6.1% rise and the median list price on those escrows, just like the sales price was within about $5,000 of the previous year finishing ’10 at $879,000.  Sold Single Family Homes and Planned Unit Developments (not condos) Carpinteria through Goleta 2009 vs. 2010 Jan.-Dec. •Average Sold Price: ’09 = $1,399,886, ’10 = $1,460,353 UP +4.3% •Average Sold Price (without Hope Ranch & Montecito): ’09 = $987,547 ’10 = $1,015,484 UP +2.8% •Median Sales Prices (without Hope Ranch & Montecito): ’09 = $750,000 ’10 = $775,000 UP +3.3% •Number of Sold Properties ’09 = 839 ’10 = 903 UP +7.6% •Median Sales Prices ’09 = $845,000 ’10 = $850,000 UP+0.6%  SANTA BARBARA REAL ESTATE SNAPSHOT: December 12, 2010 - January 16, 2011 New listings: 120 Price Improvements: 102 Pending: 72 Closed: 94 (break down:) Sub $1 million: 67 $1-2M: 16 $2-4M: 4 $4-8M: 5 $8M+: 1 *Off Market: 183 Back On Market: 38 *Many properties expire at the end of each calendar year. 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    Remodeling magazine's 2010-11 Cost vs. Value Report CITY REPORTS Find detailed information on how projects fared in 80 U.S. cities. Plus, download PDFs of individual city reports and use a data comparison tool to see how returns differ from year to year. Go to www.costvsvalue.com.    How We Get the Numbers: Construction cost estimates are generated by HomeTech Information Systems (www.hometechonline.com) of Bethesda, Md., which takes into account construction commodity data and labor cost information from a nationwide network of remodeling contractors. The company prepares a detailed construction estimate for each project and then adjusts this baseline cost for each city to account for regional pricing variations. E-mail surveys were sent to some 150,000 appraisers, sales agents, and brokers in the summer of 2010, and more than 3,000 participated.   Using the Data: The Cost vs. Value Report provides an accurate snapshot of the national housing market, but it can’t be applied accurately to an individual remodeling project for a particular address. Resale value is one factor among many that a home owner must take into account when making the decision to remodel.   2010-11 Trends: Slumping home values pulled the overall cost-to-value ratio down to its lowest level this decade, extending the downward trend that began in 2006. By G. M. Filisko | January 2011  Tax Incentives Assistance Project www.energytaxincentives.org Residential Energy Efficiency Incentives Homeowners can qualify for a variety of federal tax credits by making home envelope improvements and heating and cooling upgrades, and by installing onsite renewable generation. All incentives are in effect for measures placed in service during 2009 & 2010 unless noted otherwise. For more information on criteria, specifications, and other details, visit the TIAP Web site at www.energytaxincentives.org  TIAP also offers links to other sites for specific information on products and technologies. COMMUNITY: Santa Barbara Film Festival The 26 countries and an astounding number of premieres sure to delight the cinematic tastes of SBIFF audiences. SBIFF is proud to welcome many promising and established filmmakers and honorees to join in its grand tradition of celebrating independent film. The Festival begins Thursday, January 27 and continues through Sunday, February 6, 2011. GET INVOLVED:  "Gasland" Thursday, January 20  7-9pm at the Lobero Theatre. Presented by Get Oil Out! (GOO!) and the Fund for Santa Barbara:  COST: FREE Halliburton and the oil industry are "fracking" us over yet again. . . ."The largest domestic natural gas drilling boom in history has swept across the United States. The Halliburton-developed drilling technology of 'fracking' or hydraulic fracturing has unlocked a "Saudia Arabia of natural gas" just beneath us. But is fracking safe? Come and find out... VOCABULARY LESSON: Urbanism:   A radical turn from the post-World War II pattern of throwing up clumps of subdivisions, isolated office parks, commercial strips and shopping centers, strung together by arterials and highways, all accommodating the automobile but rarely if ever walkable or encouraging of civic life. It is places that feature a diversity of uses — homes, shops, libraries, parks, schools — mixed closely so they're walkable (or easily bikable). It balances cars with public transit. It supports a rich public life. We think it's REALLY COOL! COOL WEBSITE: www.greenmap.org Green Maps provides an interactive social networking site allowing users to create virtual maps contributing their own insights on sustainable living, nature, and culture and society, connecting the universal green initiative to your community’s local green initiative. So, view pre-existing maps or register to become a mapmaker online and start mapping out the ‘green’, Santa Barbara style. Thank you www.Lovemikana.com January Green Drinks  Tonight!!! Tuesday January 18 6-8pm Red's 211 Helena Avenue Santa Barbara, CA 93101 (805) 966-5906 www.greendrinks.org/CA/Santa Barbara to join email:   santabarbara@greendrinks.org FOR SALE: 748 Dos Hermanos Santa Barbara, CA 93117 Price Adjusted to $685,000 SUPER MOTIVATED SELLERS! Spacious detached home in Villa San Marcos.  This 3br 2.5 ba cul de sac home boasts a outdoor patio area, vaulted ceilings, fireplace, french doors off dining area and attached two car garage. affordable HOA dues.  Priced below the 2 smaller units that sold in 2010, great deal!   FOR SALE: 1521 Olive Street Santa Barbara, CA 93103 Offered at: $1,575,000 Beautiful downtown townhouse. Low energy use home includes radiant floor heating, dual paned windows & quality insulation.  Watch the fireworks from the oceanview deck. Ideal upper East location.  This spacious home is newly built in 2003, quality throughout, 3br/3ba, gourmet kitchen, 2 car gar + guest spot. www.1521OliveSt.com Contact DeAnn for an appointment. FOR SALE:  3952 Foothill Road Santa Barbara, CA 93110 Price Adjusted to $575,000 Located down a private lane off the main road, this is a great opportunity to buy in the HOPE School district. Approximately 1/5 of an acre in the County of Santa Barbara, the property includes a dozen varieties of fruit trees, a towering redwood, a shaded flagstone patio, a shed/workshop, raised garden beds, chicken coop, and a sense of privacy while just minutes from all that Santa Barbara has to offer. The bright and airy home, built in 1954, has a 3 bedroom, 2 bathroom layout that allows for an extended family or rental income, with a wood burning stove, vaulted ceilings, dual-paned windows, and gorgeous hardwood floors. Contact Elizabeth an appointment. New Long Term Rental: Eco-Friendly Mediterranean Urban Oasis 3+1 (tower)  bedrooms, 3 full bathrooms 3,000 sq ft specially designed new custom home. Stone and bamboo floors with radiant heat. A Beautiful fireplace in the high ceiling living room, a small fireplace in the master bedroom. Formal dining area with 13 foot ceiling. Gourmet kitchen with 2 subzero refrigerators. Wolf 6 burner + griddle Fisher and Paykel Dishwasher Miele washer + dryer Mountain views with peaks of ocean too! Roof top deck with beautiful sunset views. Solar PV system. Only non-toxic cleaners used  No-VOC paint and cotton insulation. Off street parking + optional garage. Antique gates, windows and lamps installed in the house. Furnished with organic mattresses & linens and unique antiques from around the world. $ 7,500 a month or flexiblelease terms: 3, 6, 1 year lease... No pets or smoking, not flexible.   Please contact DeAnn: 805-451-7488 PENDING: Short Sale...nothing short about it!  328 Loma Vista Santa Barbara, CA 93103 Listed at $609,000 This three bedroom Bungalow home is located on a one block long street in the  Historical District. Very close to Alice Keck Park, Kids World and  downtown.  French doors from back bedroom open to deck and backyard. Craftsman fireplace flanked by bookcases and classic built-in China buffet in dining room.  Updated plumbing, electrical, central A/C,  heating and newer oak floors. Elizabeth Wagner & DeAnn Wilson Village Properties 4050 Calle Real Suite 120 | Santa Barbara, CA 93110 Elizabeth: 805.895.1467 or DeAnn 805.451.7488 www.SantaBarbaraEcoBroker.com and www.GreenHomesSB.com SantaBarbaraEcoBrokers@gmail.com

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Real Estate Statistics 2009 versus 2010

Active and Pending Listings
’09 vs. ’10 January - December

• Total Active Listings
’09 2,324 , ’10 2,416 UP +4.0%

• New Listings
’09 1,644, ’10 1,754, UP +6.7%

• New Listings Median List Price
’09 $1,175,000, ’10 $999,000, DOWN -15.0%

• Properties that went into Escrow
’09 869, ’10 922, UP +6.1%

Sold Homes & Planned Units (apts and condos)
’09 vs. ’10 January - December

• Number of Sold Properties
’09 839, ’10 903 UP +7.6%

• Median Sales Prices
’09 $845,000 ’10 $850,000 UP +0.6%

• Median Sales Prices without Hope Ranch and Montecito
’09 $750,000, ’10 $775,000 UP +3.3%

• Average Sold Price
’09 $1,399,886, ’10 $1,460,353 UP +4.3%

• Average Sold Price without Hope Ranch/Montecito
’09 $987,547, ’10 $1,015,484 UP +2.8%

• Sold Volume
’09 $1,174,504,679, ’10 $1,318,699,511 UP +12.3%

Santa Barbara Real Estate through the end of December 2010

Each month a very generous and talented 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 greater Santa Barbara area including Carpinteria/Summerland, Montecito, Hope Ranch and Goleta, sales of single family residences finished 2010 about 7.6% ahead of where they were in 2009 just nosing over the 900 units sold mark. But, the median sales price was just barely ahead of the ’09 number finishing the year at about $850,000 only $5,000 up from ’09. The average sales price moved a little farther ahead however finishing the year at around $1.46 million up from $1.4 million in ’09. Escrows were also up for the year rising from 869 in ’09 to 922 for ’10 for a 6.1% rise and the median list price on those escrows, just like the sales price was within about $5,000 of the previous year finishing ’10 at $879,000.

After sales declined 6 out of the 7 months from April through October they started back up in November with 69 and December with 88. But, while the numbers of sales went up in December the median sales price went down, dropping from $865,000 in November to $778,500 in December. The numbers of escrows also declined in December from 76 in November to 63 in December. This slowing of sales activities usually occurs because the focus in the last month of the year turns to getting the open escrows closed rather trying to put new escrows together.

Looking at the Districts, Carpinteria/Summerland finished the year 9% ahead of the ’09 rate of sales rising from 73 in that year to 80 in ’10. But, the median sales price declined slightly dropping from $687,500 in ’09 to $675,000 in ’10 for a 2% dip. Montecito also had sales go up in ’10 rising from 143 in ’09 to 153 in ’10 for a 6% gain.  But, the median sales price for the area remained basically at the previous year’s level rising slightly from $2.35 million to $2.375 million.

For Santa Barbara’s East Side, sales went up from 236 in ’09 to 244 in ’10 for a 3% rise and the median sales price rose from $885,000 in ’09 to $925,000 in ’10 for a 4.5% rise. But, after moving ahead of the previous year’s pace for most of the year, activity on the East Side looks like it’s slowing with escrows almost at exactly the same level they were at in ’09 and the median list price on those escrows dropping below the $900,000 mark coming in at the same price level as ’09.

Over on the West Side however, sales finished the year substantially ahead of where they were in ’09 rising from 152 to 196 for a 29% boost. The median sales price for the area is also up going from $743,000 in ’09 to $785,000 in ’10 for a 5.7% gain. The numbers of escrows is even farther ahead than the sales finishing the year with 217 up from 166 in ’09 for a 30% gain.

Hope Ranch finished the year almost exactly where it left ’09. There were 19 sales in ’09 and 21 in ‘10 but the median sales price dipped slightly from $2.335 million to $2,212,500 in ’10. The average sales price was way up however going from $3,276,575 in ’09 to $3,888,212 in ’10. This rise was due to some very high priced sales in the area.

Goleta South ended the year with 9.2% more sales activity than the previous year going from 87 sales in ’09 to 95 sales in ’10. The median sales price fell however dipping from $700,000 to $670,000 in ’10 for a 4.3% drop. But, sales in Goleta North dipped from the previous year going from 162 in ’09 to 157 in ’10 for a 3% decline while the median sales price remained exactly where it ended in ’09 at $705,000.

For condos in the greater Santa Barbara area the picture is not quite as rosy as the single family dwelling market.  For the final 3 months of 2010 sales declined from 33 in October to 27 in November and down to 25 in December.  The median sales price also dropped for those 3 months from $475,000 in October to $425,000 in November and down to $415,000 in December. The numbers of escrows also dropped substantially from November when there were 31 to 19 in December but the median list price on those escrows did come up from just under $400,000 in November to about $459,000 in December

The numbers of condo sales for 2010 were about the same as we experienced in 2009 rising ever so slightly from 319 to 324. But, the median sales price continued to decline dropping from $465,000 in ’09 to $434,000 in ’10 for a 6.7% drop. As the median sales price continues to decline it is getting closer to the ’02 level than it is to the ’03 level unlike single family home median sales price which have remained at almost exactly the same median sales price level we experienced in 2003.

Looking at the districts, Carpinteria/Summerland sales are 26% ahead of where they were in ’09 rising from 52 to 66. The median sales price has dropped however sliding from $430,000 in ’09 to $382,500 in ’10 for an 11% drop. Montecito condo sales finished the year at more than double where they were in ’09 rising from 11 to 26 and the median sales price was also up from $945,000 in the previous year to $1,075,000 in ’10 for an almost 14% rise.

For the East Side of Santa Barbara condo sales were also up from 56 to 67 for a 19% rise, but the median sales price fell from $529,900 in the previous year to $481,500 in ’10 for a 9.1% drop.  The party may be over for the East Side however because escrows have dropped about 7% for the year falling from 68 in ’09 to 63 in ’10.

The West Side of Town had sales below the ’09 level dropping from 81 to 80 for a 1.2% decline and the median sales price dropped a little from $503,000 to $495,000 for a 1.6% dip. The numbers of escrows are also very close together for the area so things should remain at about the same level of price and activity.

Goleta South has experienced two rough years in a row. Sales dipped 31% for the area falling from 67 in ’09 which fell significantly from ’08 to 46 in ’10. The median sales price also fell dramatically from $450,500 the previous year to $375,000 in ’10 for almost a 17% decline. Across the freeway in Goleta North sales also fell but not quite as far. For ’10 there were 48 sales compared to 60 in ’09 for a 20% drop. But, the median sales price went up if ever so slightly from $395,000 in ’09 to $397,500 in ’10.

Sales of condos have been slowing through the last quarter of ’10 and at this point it looks like they’re going to continue in that direction. There has been substantial activity in the luxury condo market however with 4 sales over $1 million in December and several more in both October and November. The single family home market has also experienced a surge at the upper level with 5 sales over $5 million in December and 12 sales over $2 million.

 The real boost in sales was in the below $1 million market where there were 56 sales up from 38 in the previous month. This rise in that sector is the reason the median sales price for the month tumbled to $778,500. Going into 2011 it look like the single family home market should remain strong with some upward pressure on prices below $1 million. The $1 to $2 million looks unsteady however while the over $2 million market has remained stable.

Gary Woods

 

Weekly Real Estate Snapshot 1/3/2011 - 1/9/2011

Weekly Real Estate Snapshot 1/3/2011 - 1/9/2011

New Listings: 35

Price Improvements: 42

Pending: 14 breaks down to:
     under $1 million: 9
     $1-2 million: 4
     $2-4 million: 0
     $4-8 million: 1
     $8 million+: 0

Closed:  16  breaks down to:
     under $1 million: 15
     $1-2 million: 0
     $2-4 million: 0
     $4-8 million: 1
     $8 million+: 0

Off Market (expired, canceled, withdrawn): 21

Back On Market: 10

748 Dos Hermanos: Price Adjusted to $685,000

2010 Sales

This past year was a busy one for me and I am ready for 2011 to be a great one too.  

Please let me know if I can assist you with your real estate needs and thank you for your support.  

2010 Sold Transactions:

212 Mohawk Road Santa Barbara, CA 93109

270 Canon Drive Santa Barbara, CA 93105

921 Spring Street Santa Barbara, CA 93103

1230 Manitou Lane Santa Barbara, CA 93101

1509 Mountain Avenue Santa Barbara, CA 93101

1509 Mountain Avenue Santa Barbara, CA 93101

1010 Belmonte Drive Santa Barbara, CA 93101

309 Cordova Drive Santa Barbara, CA 93109

601 East Victoria Street Santa Barbara, CA 93101

917 Paseo Ferrelo Santa Barbara, CA 93103

Current Listings:

748 Dos Hermanos Santa Barbara, CA 93111

2720 Painted Cave Road Santa Barbara, CA 93105

3952 Foothill Road Santa Barbara, CA 93111

10 San Marcos Trout Club Santa Barbara, CA 93105

 

 Sincerely,

Elizabeth

3952 Foothill Road Price Adjusted to $575,000

Weekly Real Estate Snapshot 12/27 - 1/2/2011

New Listings: 9

Price Improvements: 19

Pending: 11 breaks down to:
     under $1 million: 7
     $1-2 million: 1
     $2-4 million: 2
     $4-8 million: 0
     $8 million+: 1

Closed: 36  breaks down to:
     under $1 million: 27
     $1-2 million: 4
     $2-4 million: 2
     $4-8 million: 2
     $8 million+: 0

Off Market (expired, canceled, withdrawn): 99 *almost all expire at the end of the year*

Back On Market: 10

Happy New Year's!

 &