The Consumer Confidence index, as reported by the US Government, was up 4.3% to 113.7, the most optimistic in years. Existing home sales rose .07% nationally to 5.61 million units sold through December 21. Santa Barbara sales however were down 2% in 2016 from the year before primarily because there has been a chronic shortage… more
Mortgage Rates
6 Predictions For Housing Market in 2017
1. “Cities will focus on denser development of smaller homes close to public transit and urban centers.” Last week economist John Burns also pointed to development happening in certain parts of California reflecting the “surban” movement (when urban and suburb collide), in which revitalized suburban downtowns are starting to authorize new housing. 2. “More millennials… more
The Homebuying Cost You Shouldn't Overlook
When people are looking to buy a home, they may be thinking about how much they’ll need to save for a down payment or what monthly mortgage payment they can afford. But there’s another expense prospective homeowners should consider before taking out a mortgage: closing costs. What Are Closing Costs? When you take out a… more
Rising Rent Prices Are Creating 1st Time Home Buyers
Rising Rent Prices Are Creating 1st Time Home Buyers By Scott Westlotorn Armed with more confidence in the economy, first time buyers are jumping into the housing market. Many are compensating for soaring entry level home prices with a Federal Housing Administration loan that became cheaper after insurance premiums were cut in January 2015 to… more
Santa Barbara Real Estate Market Data for October 2015
Click links below for updates on Santa Barbara, Montecito, Hope Ranch, Goleta, Summerland, and Carpinteria for October 2015: Sales by Area Price Report South County Market Trends South County Cash Transaction Trends Source: Fidelity National Title Santa Barbara