“How’s the Market?” – A Snapshot of Santa Barbara Real Estate

Everybody wants to know – ‘how’s the market’? Santa Barbara has certainly taken its lumps in the last few years, but things might be starting to look up.  The following chart shows how the number of sales for January of 2012 compares with every January back to 2008.  Something’s definitely ‘up’.

Santa Barbara Home Sales for January 2008 through 2012

The next chart shows median sales price and while the median is not up, it’s better than this time in 2010.

Santa Barbara Median Price for January 2008-2012

 Santa Barbara condos are another matter.  The number of sales is down to 2009 levels for January, and the median price is still slipping.

Santa Barbara Condo Sales for January 2008-2012

Santa Barbara Condo Median Price for January 2008-2012

 So is it a good time to buy?  Many people are still worried that prices haven’t ‘bottomed out’ yet.  But the combination of historically low prices and historically crazy low interest rates are setting up an ideal situation for buying that may soon come to an end.  Inflation is rising, and eventually, interest rates will have to rise to control it.  If you put any faith in Warren Buffett, now is the ideal time to buy:

“Warren Buffett, CEO of Berkshire Hathaway, said recently on CNBC that buying single-family homes is such a great investment right now, if it were practical, he’d buy a couple hundred thousand of them. Given how low rates are for a 30-year fixed-rate mortgages (3.95 percent, according to the Freddie Mac Mortgage Index), Buffett told CNBC’s Becky Quick that homes, held over the long term, provide a better investment than stocks. If you factor in that prices in some areas are at a 10-year low and inventory levels are high, the conditions are  ideal for buying.”

While no one can tell where the ‘bottom’ is until you’re out of it, Warren’s got a pretty good track record.  If you’d like more information on the Santa Barbara real estate market, let me know how I can help. 

Karen Blackburn, Realtor

KELLER WILLIAMS REALTY

1435 Anacapa St.

Santa Barbara, CA 93101

280-470-1002

karenSBrealestate@gmail.com

 

Santa Barbara Wineries – The Best Kind of Weekend Getaway

Santa Barbara wine country

With over 100 Santa Barbara area wineries to choose from, it’s tempting to try to visit four or five of them when you head out to wine country.  But it’s SO much more relaxing to just pick one or two and take your time, rahter than to dash in and out, trying to follow a long itinerary.  So this past Saturday morning, when Santa Barbara dawned not with the usual brilliant blue sky but something that looked more like a cloudy foggy soup, we hopped in the car with some friends and headed out to the San Marcos pass, where the clouds parted and the sun broke out 5 minutes into our drive, making everything right in paradise once again.

Santa Barbara county’s wine region is unique, due to its unusual geography. According to californiawineinfo.com,

“In Santa Barbara County, the north-south coastal range of mountains abruptly turns to run almost east-west for 50 miles, framing the valleys in a unique transit to the Pacific Ocean. This is the only stretch of land from Alaska to Cape Horn constituting an east-west traverse. The unique topography allows the flow of fog and ocean breezes to shape distinct microclimates and makes the region one of the coolest viticultural areas in California. However, warmer daytime temperatures in the inland areas allow a wide variety of winegrapes to be grown. Terrain and climates vary widely, from steep, wind-swept hillsides to rolling inland valley vineyards where summer temperatures often reach the century mark.”

Map of Santa Barbara wine country

Once in wine country, we started our day with a leisurely lunch at Trattoria Grappolo in tiny Santa Ynez (try their thin crust pizza with scampi, shitake mushrooms & garlic – yum!).  Santa Ynez first became famous after the movie Sideways. You can even download the map that traces the movie’s destinations, so you can recreate your very own Jack and Miles roadtrip.

After lunch, we headed for Foley’s winery. Foley’s happened to be having a barrel tasting that day for members, so the place was packed.  We did a tasting inside and then had a ‘real’ glass at the barrel tasting and sat outside in the field to enjoy it with some tasty cheeses.  We met ‘Jeff’ from West Hollywood who wandered our way holding two open bottles of wine and several glasses.  Jeff seemed to have lost his friends from his limo tour.  He joined us for a glass of wine and went stumbling on his way.

Inside Foley's winery

Our last stop was Firestone, and the friends we were traveling with were members of their wine club, so we were able to enjoy a complimentary tasting in the ‘member’s lounge’.  Two buttery Chardonnays and several smooth Pinot Noirs later, we were on our way home.  If you’re going to make a habit of wine touring, joining a wine club (or having friends who are!) is a really good idea.

There are lots of ways to do wine touring.  Having a friend who’s willing to be the designated driver is my personal favorite.  There are also many services that will drive you to and from – some of them offer ‘custom’ tours, while others have a set agenda of wineries that they visit.  You can go by limo, jeep, van or even taxi!   I’d recommend you research the various touring companies on Trip Advisor or Yelp to get reviews and an idea of what the tour is like.

The Santa Barbara lifestyle is full of fun adventures and buying real estate here has never been more affordable.  If you’re thinking of relocating to Santa Barbara and would like more information, contact me anytime.

Karen Blackburn, Realtor

KELLER WILLIAMS REALTY

1435 Anacapa St.

Santa Barbara, CA 93101

805-470-1002

KarenSBrealestate@gmail.com