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
Passive House: Brighter Shade of Green
By Preston Koerner | September 26, 2010
Today, the most viewed and emailed article on the NY Times is one on Passive House, "Can we Build in a Brighter Shade of Green?" The concept of Passive House has been growing in popularity over the last eight years or so, especially in green building circles. These homes are ultra energy-efficient and, with some on-site energy generation, can be energy neutral or energy producing. Specifically, according to Passive HouseInstitute US, a Passive House must be airtight, or have less than 0.6 air changes per hour with an air pressure difference of 50 Pascals. It must also use very little energy, or no more than 15 kWh/m2 per year for heating and 15 kWh/m2 per year for cooling, as well as no more than 120 kWh/m2 per year for primary energy.
Federal Regulators Sued Over PACE Rulings
The Natural Resources Defense Council (NRDC), one of the nation’s leading nonprofit environmental groups, filed a federal lawsuit this week accusing two national regulatory agencies of illegally blocking implementation of Property Assessed Clean Energy (PACE) financing programs.
PACE financing, which has been authorized in more than 20 states, is an innovative financial model in which homeowners borrow funds to pay for a wide range of energy improvements, and repay the funds via a special assessment on their property taxes. The suit was filed in response to recent federal rulings that have effectively prevented homeowners and home buyers from obtaining mortgages on properties with energy improvement liens that are senior to mortgage debt.
The defendants in the suit are the Federal Housing Finance Agency (FHFA), which oversees the two government-sponsored home mortgage companies known as Fannie Mae and Freddie Mac, and the Office of the Comptroller of the Currency, which regulates the national banking system. The NRDC contends that the two agencies issued rulings regarding PACE financing without justification and without following proper protocol as required by law.
“Federal housing regulators are standing in the way of programs that make clean energy projects affordable for homeowners and lower electricity bills,” said Katherine Kennedy, Energy Counsel at NRDC. “It defies common sense that the federal government is blocking programs that could create jobs, jumpstart our economy, put money in homeowners’ pockets, and fight climate change at the same time. Instead of shutting them down, the federal government should help these programs grow.”
Friday, Oct 8th The Community Environmental Council hosted their 40th Anniversary sold out "Green Gala" fundraiser with fairies and satyr's and a mystical forest theme. The event was a a huge success! Get your tickets early next year!
Saturday, Oct. 9th over 200 people came through the 6 properties on the Tour of Green Homes hosted by Habitat for Humanity.
Sunday Oct 10th was 10/10/10 and Global Work Day www.350.org and the Community Environmental Council hosted a successful "Carrot Mob" at McConnell's Ice Cream shop. All profits to McConnell's are going to upgrade their lighting to LED and other energy efficient upgrades...plus the ice cream was delicious.
GET INVOLVED:
"LAST PARADISE" Documentary Screening
This event is a Fundraiser for the Santa Barbara City College (SBCC) Center for Sustainability,and will include a question and answer period with Clive Neeson following the film. Co-sponsored by the Surfrider Foundation/Santa Barbara Chapter and LoaTree.
Where: Arlington Theater, Wed, October 20, 7-9:30 pm, $10 general/$20 special supporter. Tickets are available through the Arlington Theater ticket office at (805) 963-4408, or at TicketMaster.com.
Last Paradise Film: www.lastparadisefilm.com
Isla Vista Co-Op Country Fair
Saturday October 23, 11:00am-5:00pm
6575 Seville Road Isla Vista, CA
www.islavistafood.coop
Come on down for the 3rd annual Co-op Country Fair! Music & Dancing, bake-off, vegetarian AND local beef BBQ's, farm animals, bees! activities, eductation, local producer's, eating contests, and more! Visit www.islavistafoodcoop.blogspot.com for more detailed information, including bake-off specifics.
VOCABULARY LESSON:
Passive Solar:
Energy is transferred by natural mechanisms such as conduction and air convection currents. It utilizes the right materials in the proper places while respecting the unique climate needs of the home's location. It blends thermal dynamics with utilitarian design.
Passive systems are simple, have few moving parts, and require minimal maintenance. They require no mechanical systems. Passive design has been practiced throughout history. It is now practiced throughout the world to build comfortable homes with low energy and maintenance costs.
This website will bring the best green has to offer to you whether you are a homeowner or a building professional. We suggest coming back often for new ideas and approaches to make your home the best it can be now and for the future.
Hickory hardwood floors throughout this 4000+/- sq. ft. home with 5 bedrooms & 5 full baths, bonus room could be media room or 6th bedroom.
French doors open to pool with patio and lawn. In the New Harding University Partnership School District that is now associated with UCSB.
SOLD:
309 Cordova Drive
Santa Barbara, CA 93109
Listed at $1,399,000
Sold for $1,285,000
A remodeled and spacious Marine Terrace Mesa home with ocean and island views.
Boasting a spacious upstairs master suite complete with ocean views and a fireplace, updated bathrooms throughout, gourmet kitchen, and an entertainer's back yard are just the beginning of the many amenities found in this home that is just a few blocks to the beach.
The Mesa lifestyle is perfected in 309 Cordova Drive.
FOR SALE:
601 East Victoria Street
Santa Barbara, CA 93103
Price Adjusted to $659,000
This sweet little home sits in the middle of “The Bungalow Haven” , an area of Santa Barbara known for its craftsman and bungalow homes and pride of ownership. Perched atop a little hill and on a corner lot, this home boasts a wrap around front porch reminiscent of times past spent enjoying a porch swing while chatting with the neighbors.
With 2 bedrooms, 1 bathroom, an extra room for an office or expansion options for the current kitchen and a 1 car garage, it is all you would ever need for downtown living.
Get ready to have friends over to celebrate before walking over to the County Bowl or downtown for movie night!
Contact Elizabeth to view!
NEW LISTING:
3952 Foothill Road
Santa Barbara, CA 93110
Listed at $589,000
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 for Appointments
PENDING:
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.
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 September ’10 for the Home Estate/PUD market of Santa Barbara, Montecito, Hope Ranch, Carpinteria/Summerland and Goleta the numbers of sales declined from the previous month when there were 80 down to 74 in September. This means that the numbers of sales has gone down 5 out of the last 6 months. The median sales price went up however rising over $100,000 from $776,000 in August to $879,750 in September. The average sales price also went up substantially rising from about $1.16 million in August to $1.57 million in September.
The decline in the numbers of sales is somewhat surprising because there were 94 escrows with a median list price of $879,000 opened in August but those escrows did correctly predict the rise in the median sales price which came in at $879,000 for September. The numbers of escrows has been swinging wildly from month to month with about 95 in June, 75 in July, approximately 95 in August, and now 80 in September. The median list price on those escrows has stayed remarkably solid however coming in right about $850,000 every month.
Looking at the Districts we see that sales in Carpinteria/Summerland of Home Estate/PUDs are up from 52 last year to 55 this year with the median sales price declining slightly from $687,500 last year to $662,500 this year.
In Montecito sales are up from 105 in ’09 to 109 in ’10 and the median sales price has dropped from $2.57 million last year to $2.41 million this year. This drop in the median sales price is actually more pronounced however because what is occurring is that houses priced for substantially more are now selling in that $2.4 million range.
On the East Side of Santa Barbara sales are up almost 20% going from 156 in ’09 to 185 in ’10 and the median sales price which was $900,000 last year is still above where it is currently at $929,000 but that gap is starting to move closer together.
The West Side of Santa Barbara also has sales up over 20% from 114 last year to 142 this year and the median sales price is also up from $730,000 last year to $800,000 this year. It looks like that level of sales and prices should continue on the West Side with pended properties coming in at the same percentage as sales and the median list price on those escrows still hovering right around $800,000.
For Hope Ranch sales are again moving forward from where they were last year when there were 10 up to 14 this year and the median sales price is also maintaining a lead over last year when it was $2.175 million. This year those 14 sales have given us a median sales price of $2.675 million and an average sales price of $3.51 million.
For Goleta South there have been 79 sales this year compared to 61 last year but the median sales price has declined slightly from $700,000 last year to $675,500 this year. Goleta North has also seen sales rise from 115 last year to 123 this year but for that area the median sales price has gone up slightly from $703,000 last year to $710,000 this year.
Comparing September 2010 with its 74 sales and about $880,000 median sales price to September 2009 we see sales down from the 85 of a year ago but the median sales price up from $750,000 last year to $880,000 this year. Essentially for the past 12 months the median sales price has remained stable from month to month at around $850,000. There have been some peaks and valleys in that time, but the overall effect has been the median sales price for the area remains at around $850,000.
The decline in the numbers of sales over the past 6 months can be attributed to 3 factors. First, the end of the 1st Time Buyer Credit, second, the usual seasonal slowdown and third the substantial numbers of foreclosures that we’re still being told are coming from the banks. If and when those foreclosures get released sales will go up but the median sales price should start to decline.
For the Condo market in September sales went up to 23 rising from 22 in the previous month. The median sales price also went up rising from $427,500 in August to $460,000 in September so it would naturally follow that the average sales price also rose from $507,027 to $529,538.
The numbers of escrows also rose from 27 the previous month to 36 in September but the median list price of those escrows declined from $490,000 in August to $469,000 in September. The Sales Price to Original List Price Ratio has remained strong for Condos all year hovering around the mid to low 90th percentile which means that when a property comes on at the right price it goes out very close to that price.
There have been 238 Condo sales through September 2010 compared to 226 at this time last year but the numbers of escrows has declined from 273 last year to 259 this year. The median sales price for ’10 of $437,000 is below the ’09 number of $467,000 but the median list price on the pended properties is $469,000 for both years. I think the disparity in the median sales price numbers and median list price numbers on the pended properties is due to the fact that most of those sub $400,000 condos are gone so if something is going into escrow it’s farther up in the price range.
Looking at the Districts, for Carpinteria/Summerland the sales are up by about 30% going from 107 to 140. But, the median sales price has declined from $411,500 last year to $385,000 this year.
In Montecito this year both sales and prices are up. For ’09 there were only 4 sales compared to 14 this year and the median sales price has risen from $697,000 last year to $1,022,500 this year.
On the East Side of Santa Barbara there have been 55 sales this year up from 43 last year but the median sales price is down from $529,500 last year to $475,000 this year. On the West Side of town the numbers of sales is up from 54 to 59 but the median sales price declined slightly from $510,000 last year to $495,000 this year.
Goleta South has seen sales drop markedly by over 40% basically due to a lack of inventory. Last year there were 55 sales and this year there have been 38. The median sales price has also dropped from $453,000 last year to $370,000 this year despite a huge rise in the sales price to original list price ratio which went up to 97.56%.
Goleta North has also seen a decline in sales falling from 38 to 30 for a 23% drop but unlike Goleta South the median sales price in the North has gone up from $375,050 to $408,500.
The decline in the numbers of condo sales is much more pronounced when compared to the drop in Home sales. Condo buyers would be the ones more substantially affected by the ending of the 1st Time Buyer credit and the numbers we see in this sector more closely resemble the numbers we see in the rest of the country for home sales. Just like with home sales those three factors of 1st Time Buyer Credit, Seasonal Slowdown and the spectrum of more foreclosures about to be released is affecting whether people are going to buy or not.
Overall Santa Barbara is doing better than most of the rest of the country when you look at the Real Estate market even with sales dropping. There is a lot of uncertainty out there which rightfully makes buyers timid. The results of the upcoming elections could resolve some of that insecurity but there are still a lot of questions to be answered before we’ll see a big surge in both numbers of units sold and a rise in the median sales price will occur.
Please join us on Saturday, October 9th for the 2010 Tour of Green Homes. Showcasing the latest in green building techniques, the tour will include six homes in Santa Barbara and Montecito - including the new Victoria Garden Mews project and the Habitat for Humanity San Pascual affordable housing site.
Demonstrating how environmentally friendly construction methods and materials can be incorporated into any project, tour patrons will enjoy a wide range of home styles from modest to grand, from contemporary to craftsman.
On October 10, CEC and friends will Carrot Mob a local business to encourage it to become more energy efficient. We'll reveal the location of this “reverse boycott” 72 hours in advance. Watch CEC’s website or Facebook page to find out who we’re mobbing.
Join us for a lecture and discussion with Annie Leonard – author,
activist, and the creator of The Story of Stuff documentary. See
how our obsession with stuff is trashing the planet, our communities
and our health, and learn how we can change this. Lecture to be
followed by a discussion with a panel of local experts and a book
signing with Annie Leonard. www.storyofstuff.org
This event is supported in part by
The Marjorie Luke Theatre’s Dreier Family Rent Subsidy Fund
October 7 at 7:00 pm
Marjorie Luke Theater
721 E. Cota, Santa Barbara
Suggested Donation $10 to $20 – for information & tickets visit www.SustainabilityProject.org
How to address the environmental and social impacts of
making, using and throwing away all the stuff of daily life.
THANK YOU TO OUR SPONSORS:
October 8
20% of all proceeds benefit TSP
Bring this flyer to Silvergreens
(861 Chapala St)
Presented by: The Sustainability Project
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