Real Estate Blog

Ironically, it could be rising interest rates that entice more (finally push) home buyers off the fence and into the market.

While Congress is debating the tax-cut compromise, the financial markets have interpreted the proposal as a development that will likely push mortgage interest rates higher than they have been for months.

Analysts are predicting that buyers will move quickly when it looks like rates are going up and are unlikely to come down. "Once people see this might actually be the bottom, they’ll go for it," says Paul Dales of Capital Economics.

The average rate for a 30-year fixed loan increased to 4.61 percent in the week ended Thursday, Dec. 9, from 4.46 percent the previous week. The average 15-year rate rose to 3.96 percent from 3.81…
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A lot of press has been given lately to home sales statistics nationally and in California.  A housing market recovery is seen as key to our nation’s economic recovery. Well in Santa Barbara the number of home sales has increased 6% year-to-date, from 1,215 sales in 2009 to 1,292 sales in 2010. The median price has increased 4% from $705,000 to $735,000 and total sales volume has increased 14%.

Although not totally immune to our nation’s difficult economic times, Santa Barbara’s real estate market is showing, as it’s done in the past, the ability to outperform many other markets. Decent and sustainable gains are starting to show across the board. These are the type of returns that smart investors typically look for and can appreciate. As mogul Warren

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