Santa Barbara & Montecito Real Estate, Fine Homes & Estates
February 2014 Real Estate Market Statistics for South Santa Barbara County* reflected a continuation of recent trends in which lower inventory resulted in fewer closed and pending sales. The good news, the number of new listings — while lower year-over-year — is showing some slight upward momentum… increasing approximately 8 percent over January. Median list price is… more
New mortgage lending rules resulting from the Dodd-Frank Act took hold this past January that federal regulators are hoping will guard against a future housing collapse. The rules are essentially intended to ensure that borrowers can actually afford the loans they are seeking. Mortgages must now meet “Qualified Mortgage” (QM) guidelines and borrowers will be… more
January 2014 Real Estate Market Statistics reflected a continuation of recent trends… the good news / bad news of rising values met with fewer sales and shrinking inventory. In South Santa Barbara County,* the median home value rose 6% from December and rose 32%year-over-year to $914,000. In Montecito, the median home value of $2.2MM was… more
Happy new year! January 31 marked the beginning of the Chinese New Year … a worldwide celebration also known as “Spring Festival” — or the Lunar New Year that includes elaborate festivals, feasts, travel… lasting as long as 15 days. According to the Chinese Zodiac, we have now entered the Year of the Horse …… more
Maurie McGuire