Prices continue to rise and there is stiff competition to acquire a home in all areas. To get perspective on the Mesa market, and its 56 sales, year to date, we need to look at other neighborhoods on the South Coast. Median prices in Montecito, 180 sales, are up 51 percent,Santa Barbara City, 367 sales, up 38 percent and Goleta, 175 sales, up 20 percent. This market has emphasized the purchasing Continue Reading about Market Mojo Report – Mesa Increase in Values Highest on Record
Market Mojo Report
For Christmas, I ordered a set of DNA ancestry and health testing kits for everyone in my family. It used to be your relatives who helped maintain the family tree; that’s how you knew where your ancestors came from. For our family, it was the family stories that circulated at Thanksgiving that told us where we were from. If you could get information from 100 years ago, you were lucky. I guess Continue Reading about Market Mojo Report – Jan 2018 – Are You Curious?
Should you be the first one on your block to apply for an Accessory Dwelling Unit (ADU)? You might consider waiting a few more months before you apply for a permit to create one of these “granny flats,” as a rental in your home or garage. State and local governments are still resolving the ADU approval process. This year, the very first homeowners to apply moved through the permitting process Continue Reading about Market Mojo Report | September 2017: ADUs – Rental Units in Single Family Zones Get Approvals
by Dr. Mark Schniepp, Director of the California Economic Forecast in Santa Barbara Bubble Concerns Google the words “housing bubble” and a long list of articles and blogs will come up that proclaim another bubble is back. That’s because the nationwide average of home prices is now in record territory again and that alone appears to be enough evidence to support the notion of a bubble. But Continue Reading about Market Mojo Report|July/August 2017: Are We in Another Housing Bubble?
Who is doing the business? It makes a difference. Being with the leading real estate office in town, with so much business going on, means I get many pearls of information. I use this information to benefit my clients. I know which homes are selling, which are in multiple offers and which are not, which are in escrow, and at what price. Being in Santa Barbara’s top real estate company makes a real Continue Reading about Market Mojo Report (June 2017): 2017 Market Share – Pearls of Information
Aren’t new houses more expensive than older homes? That is the common wisdom. What if a new home was a better buy than a used one? Imagine. A new home with everything working perfectly may indeed be a better buy than an older home that needs repairs. We are so used to older homes with all of their issues. I’m attracted to new houses. There are a couple of new subdivisions in town that I ﬁnd Continue Reading about Market Mojo Report – May 2017: Missing Out on New. It’s An Easy Mistake.
New Law Legalizes Granny Flats Granny Flats, In-Law Quarters. These practical but often illegal income-producers have a new champion. The State of California has overturned all city and county ordinances on these rentals as of January 1, 2017. The state has substituted liberal laws for legalizing or creating these rental units. California has re-deﬁned what it means to be a single family home. Continue Reading about Market Mojo Report: April 2017
Home Building - Part Four How long does it take to build a house? My client Ron Abeles closed escrow on 129 Oliver Road on August 30, 2013. He quickly tore down the house and began the process of building a new home. He set September 2016 as his move-in date, which was extended multiple times and eventually became March 2017. That is three and a half years from start to finish, except for Continue Reading about Market Mojo Report: March 2017