The first half of 2010 has shown to be an active one for the Hope Ranch real estate market as the number of sales compared to the same time frame in 2009 increased by an impressive 42%. The price range for home sales in Hope Ranch went from $1,600,000 on the low end to a high of $7,300,000 with 4 being under $2,000,000, 3 over $5,000,000 and the remaining 3 in between. This compares to 2009 when there was just 1 sale above $5,000,000 and also just one below $2,000,000. Hope Ranch is a beautiful area of Santa Barbara (click here for a quick view of Santa Barbara Real Estate for Sale) consisting of approximately 750 properties.  Hope Ranch has a private beach, tennis courts, a country club with golf course, and equestrian trails meandering thru-out the community.  Most lots are in excess of an acre affording lots of privacy. Views are quite varied and can be panoramic taking in the mountains, Laguna Blanca Lake, the golf course, and ocean and islands, too! There are currently 28 properties for sale in Hope Ranch starting with a 4 bdrm ranch on 1.5 woodsy acres priced at $1,895,000 up to one of the most spectacular oceanfront estates in Hope Ranch for sale at $29,000,000.  The incredible 14 acre grounds will take your breath away – like being in your own private park surrounded by towering oaks and redwoods.  The estate is gated of course and includes a 6 bedroom, 10 bath residence, exquisite  pool & pavilion, volley ball court, sprawling lawns and 1000 ft of  bluff top ocean front.  If Oprah is looking to expand her real estate portfolio this would be a wonderful addition!

Santa Barbara

Watched the Fourth of July fireworks from a magnificient bluff top location on the Mesa in Santa Barbara. This oceanfront (click to view Santa Barbara Ocean Front homes for sale) location is a prime spot for a Santa Barbara luxury home. Plans are in place for a gorgeous Tuscan Villa. This remodel opportunity is a rare offering. This locale has a unique orientation facing south and east over the Santa Barbara coastline allowing incredible sunrise views plus ocean, city, harbor, mountain, and island views. Just steps to Shoreline Park, Leadbetter beach – great for surfing and paddle boarding, Santa Barbara Harbor and Santa Barbara Yacht Club plus restaurants and shops. Also close enough for a stroll to State Street and downtown Santa Barbara. Directly in front of you is a favorite local surf spot, for your own live surfing extravaganza. Watch kayakers and paddle boarders from Santa Barbara Harbor, a regular Regatta of international visits from the most spectacular sporting yachts in the world, weekly sail boat races, occasional cruise ship visits and visits from the USS Ronald Reagan, a state of the art U.S. Naval Aircraft Carrier. You may also be delighted with the appearance of dolphins and whales! This is what Santa Barbara beach homes are all about! Build your dream home on one of the most spectacular view properties in Santa Barbara! For additional details on this fantastic offering go to www.BeachFrontSantaBarbara.comAct now and you can watch next year’s fireworks from your very own Santa Barbara beach front home!

The luxury home segment in Santa Barbara has seen a very active spring! Fourteen estate properties have closed escrow at the $5,000,000 +  price since April 1. This compares to 8 properties closing in this price range for the same time period last year. That is an astounding 75% increase in closed sales! Perhaps the money is coming out of gold and into real estate again! The highest priced sale is an oceanfront estate which sold for $16,250,000. Located in a guard gated community this gorgeous 7000 s.f. Cape Cod style home has 5 bdrms, 7 baths and 190’ beach frontage on 2+ acres. And yes it has a guest house and a home theater! Originally priced at $32,500,000 when it hit the market in 2008 – it sold at an impressive 50% discount – I’d say well worth the wait!

Another notable luxury estate that recently closed escrow is a 1930’s Dutch Cape on 3.5 acres with dramatic mountain and ocean views in Montecito. Located just a stone’s throw from Oprah’s little place this property was written about in a previous blog about Montecito ocean view estates! It came on the market at $23,900,000 a year ago and just closed escrow at an even $15,000,000. Some great deals have been made in the Santa Barbara luxury market. Sellers are showing lots of motivation as can be seen by looking at the list to sales prices. Watch for an update on the Hope Ranch estate market next!

According to the top California foreclosure tracking resource, which tracks every California foreclosure and provides daily auction updates, and has issued its monthly California Foreclosure Report for May 2010. Foreclosure filings, outcomes and inventories dropped overall from April to May. Foreclosure filings have declined substantially year-over-year with Notice of Default filings down 43.3 percent and Notice of Trustee Sale filings down 35.8 percent. The only significant increases from the prior year were Cancellations, up 141.3 percent, Sales to 3rd Parties, typically investors, up 75.4 percent, and Time-to-Foreclose, up 30.5 percent from May 2009.

Santa Barbara had 208 notice of trustee sales for May of 2010, down from 273 the same month last year. We have participated in several of these sales and the speed with which the REO are moving and the processing of these sales has improved dramatically. Banks are better equiped and more familiar with the process and the REO buyers are better informed and pepaired as well. This all bodes well the for the Santa Barbara real estate market, California and the nation as we are moving towards a market normalization as this inventory is absorbed. Purchase loan rates are some of the lowest in years once again and prices are still very favorable, which is a combination seldom seen in and real estate market. As more loan product becomes available and lenders get back to favorable lending practices, markets are stabilizing as show by these Santa Barbara foreclosure and state wide foreclosure numbers. For a customized list of the best forclosure properties available in Santa Barbara, contact us here and we will email you the current list.

Santa Barbara real estate is seeing great interest yet again especially in the high end and particularly the “specialty” Santa Barbara property segment of ocean view and ocean front homes. The consensus of opinion among the higher end buyers is that now it the time to acquire a Santa Barbara view property or a Santa Barbara oceanfront property as they are probably priced as soft as they will ever be at this point, with the market showing definite signs of revival. Interest rates are also slated to increase over time as we move forward the U.S. government intervention of buying billions of dollars worth of bonds has now ended, and most experts feel this will effect bond pricing and associated mortgage rate to slowly rise over the coming year.

One unique and irreplaceable property seeing vigorous interest is this rare Santa Barbara beach front bluff top property available for $2.7 million on one of the most desirable Santa Barbara oceanfront parcels ever offered.

Another strong sign for the Santa Barbara real estate market resurgence is New York’s Manhattan market is seeing a large push in acquisition by foreign investors for the same reason. The consensus is that the market is poised to rebound and this is an opportunity to buy at a bottom in pricing as reported here http://www.msnbc.msn.com/id/36033352/ns/business-real_estate/ The Manhattan market has run parallel to the Santa Barbara market in interest level and sales activity over the years and this correlation appears to continue.

I recently saw the movie “Its Complicated” , a romantic comedy set in Santa Barbara, directed by Nancy Meyers and starring a Santa Barbara resident, Steve Martin and a Classic Santa Barbara estate. In an interview in Santa Barbara Magazine, Nancy Meyers says she chose a Santa Barbara property for the locale in the movie due to its natural beauty and the peace of mind and calm she feels when she comes here. She further states “It feels as close to the good life as you can get”.  Yes, we feel rather the same way. Santa Barbara is not just a place – it is a lifestyle! There were lots of Santa Barbara property scenes in the movie such as the spectacular Santa Barbara Courthouse, the historic El Paseo, and several Montecito property locations, including the scene where Meryl Streep is having her morning jog – on one of the Montecito area’s charming country roads. Many Santa Barbara Estates were within steps including Oprah’s Montecito luxury property. The house in the movie is the quintessential Santa Barbara home full of charm and character with a red tile roof, adobe brick, archways, terra cotta tile, wrought iron, and a great indoor-outdoor flow to covered verandas and lush gardens. As a matter of fact, if you happen to be looking for a similar Santa Barbara property may we be so bold as to offer our considerable Santa Barbara estate expertise to acquire your Santa Barbara dream home. Its “not” Complicated – Its Simple – just click here.