October 2014

Found 2 blog entries for October 2014.

With daylight savings time ending this weekend it’s hard to tell that we’re heading closer to winter in Santa Barbara. Mid-70 degree temperatures, sunny skies and comforting ocean breezes remind us why the area is called Paradise. In the country’s only Mediterranean climate, and one of only five on earth, Santa Barbara is a breathtaking place to live or visit when less than ideal weather moves in to other areas.

Desirable factors like great climate allow Santa Barbara’s real estate market to continue turning while other markets tend to slow down during their cold season. It’s typical for Santa Barbara to experience its largest volume closing month in real estate during December. Currently there’s 6% more inventory than there was last year at this time,

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There’s been a lot of news circulating around the housing market recently, much of it good news for home buyers. According to the CoreLogic Research Group, one of the most respected statistic bases for existing home sales, California median home sale prices are still 13% below what they were at the previous market peak almost 10 years ago. In addition, sale prices on individual homes, especially at lower price points, are even a further percentage below what they were. Several recent sales and active listings in the Santa Barbara MLS indicate selling and listing prices still almost 20% below recorded numbers for the same properties sold during the last peak market years. This is great news for buyers who qualify for financing or have all cash available.

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