Exclusively offered luxury homes in Santa Barbara » Santa Barbara beach property

In the Santa Barbara real estate market, is it better to rent or buy?

Stephen Downarowicz — Sat, 11 Oct 2008 05:41:34 +0000

We have been asked this question a fair amount lately. "In the Santa Barbara real estate market, is renting right now a better option than buying a home or a condo, and waiting it out until the market settles?"

The Answer: Well it really depends on your situation, but there has never been a clearer time in our 24 years in the business where it has been such a great time to purchase. In the late 1980’s we saw a similar market downturn. The difference now is that although this one is vastly more sensationalized as it’s now the spotlight of a presidential campaign, whereas in the 80’s it was virtually ignored by government until the Resolution Trust was formed to perform selloffs and create market liquidity. Renting now in Santa Barbara would certainly be a more conservative approach and if you are highly uncertain, then it might be a wise choice. Of course you then run the risk of re-entering the Santa Barbara real estate purchase market with less choice, the likelyhood of higher prices, and higher interest rates. Although it’s a calculated move, Warren Buffet and other highly savvy investor types would say the best time to purchase is when there is the highest amount of supply competing with each other to sell and when the market jitters are at their highest as more sellers will just bail to calm their overly emotional reaction to what is really mostly sensationalism, and the timid buyers won’t compete with you. You’ll find someone that needs to sell and has the perception that things will get worse and will concede to a great deal for you. You really need to identify what you want and need on a longer term basis. Real estate, particularly Santa Barbara real estate, has never been a “day traders” game. Its inherent low liquidity doesn’t allow for it and speculation in that regard has never really been a very successful strategy anywhere. Additionally, in the 80’s a government bailout was unthinkable. Why should taxpayers bear the brunt of the cost of foolish business decisions in a game of high risk Monopoly. Well, 20 years later it seems our society feels we’re entitled to be “rescued” for being foolish, and we shouldn’t have to take responsibility for decisions known to be high risk and speculative. Bit I digress. The good news is that the risk of getting back in the real estate “game” is now supported by tax payer “life jackets” so the risk moving forward is significantly reduced and yet the shock of what has been sensationalized in the press is keeping most folks out of the market…for now. But look at Buffet and the larger more solvent banks and their recent actions. They’re buying. They are simply buying low and will later, sell high. How bad can it really be? The percentage of overall homes in distressed situations compared to all properties, not just all properties for sale, is miniscule. And Santa Barbara has been even less relatively effected. Look at the Montecito real estate market this past year. It’s up 30%. Not much press about the stellar performance of Montecito real estate. We need to ingore 90% of what the media is feeding us. We simply need to define the parameters of what we need and want, and what we are comfortably willing to pay and look at the trends. If you see a Santa Barbara property you like, and would be happy owning, then move forward on your own terms."

So, when you’re wondering whether it’s the best time to buy or sell, know that the Santa Barbara real estate market is always dynamic. It’s either favorable for buyers or sellers, and it’s always changing. Do you really think it will stay one sided forever? The Santa Barbara real estate market favors buyers for the first time in quite a while. Remember, that Santa Barbara real estate, as in most markets, is a long-term investment. Rest assured we will see a sellers market again. And in the clever perspective of Robert Kiosaki, real estate investment guru, “The best time to make money in real estate is when you buy”. In other words, buy low when the market is soft and watch you appreciation increase as the market returns to normal.

And don’t buy a house primarily because it’s the best or worst time. You buy a house you’re going to live in because it’s a roof over your head, it’s a place to call your own and make your own, the tax benefits are unbeatable and yes it will appreciate over time. It has to. It’s the inherent structure of our economic system with a reliable rate of inflation. There have been few times in history where that trend is more obvious. If you’re lucky enough to be in the Santa Barbara real estate purchase market today, your timimg could not be better. We see this current Santa Barbara real estate market as one of the best ever in which to purchase highly sought Santa Barbara real estate because the demand for Santa Barbara real estate is temporarily down…for now.

Please let us know if you have any questions regarding Santa Barbara real estate or if we can help you find a place to call your own!

Santa Barbara properties, privately offered Santa Barbara estates, Santa Barbara ocean front for sale, Montecito estates, and the signature Santa Barbara properties market, is one which requires well informed local expertise and knowledge, crucial to successful acquisition and sale of these rare estates. Custom searches of Santa Barbara properties on the beach, Santa Barbara estates, Montecito properties for sale, Hope Ranch real estate, Carpinteria beach estates information and anaylsis of Santa Barbara CA homes for sale, is available at this site and http://www.RareEstates.com, a fine home sale transaction network, with specialized resources and knowledge of unadvertised Santa Barbara properties and qualified Santa Barbara estates property investors. For exclusive comprehensive analysis and information about Santa Barbara ocean front for sale, privately offered Montecito estates, Santa Barbara estates, or the Hope Ranch properties, inquire here.

Montecito real estate records another large celebrity property sale in the Santa Barbara real estate market

Stephen Downarowicz — Mon, 21 Jul 2008 05:54:25 +0000

Another celebrity Santa Barbara real estate sale in Montecito CA has closed. From Monty Python fame, actor John Cleese’s horse ranch and home has finally sold after around a year on the market listed at $28 million. Reported to have sold for $16.5 million on June 12, 2008. The 15+ acre equestrian ranch in Montecito CA , in the Santa Barbara real estate market is a unique world class horse facility.

It is reported that the buyers is cellphone millionaire Craig McCaw, ex-husband to Wendy McCaw, current owner of the Santa Barbara News-Press. When their divorce was settled it was reported to be the largest in State of Washington’s history and one of the largest in the history of the US.

John Cleese, too, has also found marital bliss fleeting. He is no longer with his third wife, Alyce Faye Eichelberger, a psychotherapist. Probably the reason for the Montecito property sale.

This is yet another Santa Barbara real estate transaction among the affluent in the entertainment business in Montecito CA. Oprah Winfrey owns a large home in the Montecito real estate market place and has done exceeding well with it from an investment perspective. Read more about Oprah’s Santa Barbara real estate success here. Ellen Degeneres has also recently sold her Santa Ynez property for a tidy profit to purchase a Montecito residence which she sold just 2 years later for an additional winfall. The fact is that the Santa Barbara estates properties market from $2 million up, has sustained growth throughout this market with a +16% growth in median pricing to date for 2008. The Montecito properties market is up 18% this year alone. A statistic seldom reported in the main stream media.

Santa Barbara properties, privately offered Santa Barbara estates, Santa Barbara ocean front for sale, Montecito estates, and the signature property Santa Barbara properties market is one which requires well informed local expertise and knowledge, crucial to successful acquisition and sale of rare estates. Custom searches of Santa Barbara properties on the beach, Santa Barbara estates, Montecito properties for sale, Hope Ranch real estate, Carpinteria beach estates information and anaylsis of Santa Barbara CA homes for sale, is available at this site and http://www.RareEstates.com, a fine home sale transaction network, with specialized resources and knowledge of unadvertised Santa Barbara properties and qualified Santa Barbara estates property investors. For exclusive comprehensive analysis and information about Santa Barbara ocean front for sale, privately offered Montecito estates, Santa Barbara estates, or the Hope Ranch properties, inquire here.

Santa Barbara ocean front for sale, top 12 choices by www.RareEstates.com

Stephen Downarowicz — Tue, 27 May 2008 22:59:09 +0000

For Santa Barbara ocean front for sale, below are displayed the 12 best currently available. Santa Barbara beach front properties and Santa Barbara ocean front access properties have demonstrated stable and appreciating vales since Santa Barbara’s inception. That performance is not only predicted to continue but to see substantial increases over the coming years as the Baby Boomer generation acquires properties for a final settle. What better place to do that than in the international destination of Santa Barbara California with one of the finest climates and best life styles on the planet. There is newly added demand as well from foreign investors who are currently enjoying a favorable money exchange. Santa Barbara properties for sale are presently seeing activity from Canadian as well as European, South America and Australian buyers in the Santa Barbara estates and Santa Barbara ocean front for sale market segments. The average price of Santa Barbara ocean front for sale is $13,632,916, with a median $9,800,000.

www.RareEstates.com has researched and chosen these 12 Santa Barbara ocean front properties for sale as the best currently available. Each of these Santa Barbara properties offere unique amenities and qualities, and all offer dramatic ocean and island views of Santa Barbara Channel Islands and the pristine Santa Barbara beach front. Here is a Santa Barbara ocean front for sale detail page.

The Santa Barbara properties, Montecito estates, Santa Barbara estates and signature property market is one which requires well informed local knowledge that is crucial to successful acquisition and sale of these rare estate properties. Custom searches of Santa Barbara properties on the beach, Santa Barbara estates, Montecito properties for sale, Montecito estates, Hope Ranch real estate, Carpinteria beach estates information and anaylsis of Santa Barbara CA homes for sale,is available at http://www.RareEstates.com, a fine home sale transaction network. We have specialized local resources and knowledge of unadvertised luxury properties and qualified Santa Barbara estates properties investors searching for property acquisition. To share in our comprehensive information about Santa Barbara ocean front for sale, and privately offered Montecito estates in the Montecito, Santa Barbara estates or the Hope Ranch properties marketplace, direct your inquiries here.

Santa Barbara estates properties gain the Governor as new resident of exclusive Santa Barbara ranch development

Stephen Downarowicz — Fri, 11 Apr 2008 06:36:30 +0000

Santa Barbara estates for sale in Rancho Monte Alegre, ranch land estates, welcomes Arnold Schwarzenegger and Maria Shriver as new owners of a 25 acre home site located in Carpinteria CA, in Santa Barbara County. This is a new Santa Barbara estates project and has its origins from historic ranchland acreage. The Schwarzenegger’s can live where ever they choose and, continuing a trend of affluent buyers from all over the world, they have chosen a Santa Barbara estates property, reported to have paid $4.7 million for the historic Santa Barbara estates home site, which is one of just 25 total in the Santa Barbara estates ranch land development of over 2800 acres, most of which is dedicated to open space in the Land Trust of Santa Barbara. This historic Santa Barbara ranch from the 1800’s, of several 1000 acres of beautiful arroyos, waterfalls and sweeping Santa Barbara view properties for sale, in a secluded development of only 25 private Santa Barbara estates, is a most unique offering even by Santa Barbara estates standards, with parcels of 20 acres up to 720 ranch land acres for sale in the Santa Barbara properties market area.

The Schwarzenegger’s home site allows a home of as large as 8,500 sq.ft. No homes less than 4,500 square feet are permissible in the project. There is one site permitted to have a 12,000 sq.ft. home. The considerable Santa Barbara development design CC&R’s establish what style of home one can build, landscape planning, and many other design features to conform to the oversight of Santa Barbara CA properties guide lines for new developments. www.RareEstates.com has identified this unique development of Rancho Monte Alegre as one of enduring future values within the Santa Barbara estates properties marketplace. www.RareEstates.com has aslo identified the below Santa Barbara ranch parcels available close by Rancho Monte Alegre ranch development as additional Santa Barbara ranch parcels to have the same enduring future values. Click here for property detail page.

information provided through Santa Barbara MLS

The Santa Barbara properties and signature estates market is one which requires well informed local knowledge that is crucial to successful acquisition and sale of these rare estate properties. Custom searches of Santa Barbara properties on the beach, Santa Barbara estates, Montecito properties for sale, Montecito estates, Hope Ranch real estate, Carpinteria beach estates information and anaylsis, are all available at http://www.RareEstates.com, a fine home sale transaction network, having specialized local resources and knowledge of unadvertised luxury properties and qualified Santa Barbara estates properties investors searching for property acquisition. For exclusive comprehensive analysis and information about Santa Barbara ocean front for sale, privately offered Montecito estates in the Montecito, Santa Barbara estates or the Hope Ranch properties marketplace, direct your inquiries here.

Santa Barbara Mesa real estate, now highly sought area in Santa Barbara properties quest for Santa Barbara ocean view homes near the beach and downtown Santa Barbara.

Stephen Downarowicz — Tue, 08 Apr 2008 05:40:06 +0000

Santa Barbara Mesa real estate is within Santa Barbara city limits and has become the new darling in this desirable seaside luxury resort town. Montecito Estates, just south in the Santa Barbara properties market, has long been the home ground of the mega rich and famous, but a new trend has been quietly emerging over the last few years and now it seems the secret is out. Santa Barbara Mesa real estate has become one of the highest demand ares within the tight Santa Barbara properties marketplace as tracked by www.RareEstates.com for Santa Barbara properties web inquiries research of the 25 most requested Santa Barbara homes searches and agent showing data. Demand for well priced Santa Barbara ocean view homes, close to downtown in excellent school districts is fueling this increase in requests for Santa Barbara Mesa real estate.

Close to Downtown and Sterns Wharf with a variety of styles and ocean view homes, Santa Barbara Mesa real estate is emerging as the trendy "Place to Live" in the city of Santa Barbara. www.RareEstates.com has chosen the 23 Santa Barbara properties currently for sale shown below as the best available in the Santa Barbara Mesa real estate market.

The Santa Barbara properties and signature estates market is one which requires well informed local knowledge that is crucial to successful acquisition and sale of these rare estate properties. Custom searches of Santa Barbara properties on the beach, Santa Barbara estates, Montecito properties for sale, Montecito estates, Hope Ranch real estate, Carpinteria beach estates and information, are all available at http://www.RareEstates.com, a fine home sale transaction network, having specialized local resources and knowledge of unadvertised luxury properties and qualified Santa Barbara estates properties investors searching for property acquisition. For exclusive information about Santa Barbara ocean front for sale, privately offered Montecito estates in the Montecito, Santa Barbara estates or Hope Ranch properties marketplace, direct your inquiries here.

Santa Barbara Ocean Front for sale. Best 24 Santa Barbara beach properties for sale picked by www.RareEstates.com

Stephen Downarowicz — Sun, 06 Apr 2008 06:18:19 +0000

Below are the 24 properties of Santa Barbara ocean front for sale offering the essence of the Santa Barbara beach front property life style as chosen by www.RareEstates.com

Link to detailed property page and multiple photos.

The Santa Barbara estates and signature property market is one which requires well informed local knowledge that is crucial to successful acquisition and sale of these rare estate properties. Custom searches of Santa Barbara properties on the beach, Santa Barbara estates, Montecito properties for sale, Montecito estates, Hope Ranch real estate, Carpinteria beach estates and information, are all available at http://www.RareEstates.com, a fine home sale transaction network, having specialized local resources and knowledge of unadvertised luxury properties and qualified Santa Barbara estates properties investors searching for property acquisition. For exclusive information about Santa Barbara ocean front for sale, privately offered Montecito estates in the Montecito, Santa Barbara estates or Hope Ranch properties marketplace, direct your inquiries here.

Mortgage rates for Santa Barbara properties end the week practically unchanged after volital week

Stephen Downarowicz — Mon, 31 Mar 2008 17:26:22 +0000

Continuing winds of change were again working to keep the market of financials from settling just yet, throughout last week. Monday news brought a nice shot upwards for the stock market, as brow beaten Bear Stearns now is predicted to get $10 a share in their buyout, rather than a reported $2 a share. Very good news for a anxious financial sector, but Bonds got beaten down, as money jumped from bonds to stocks – causing the Santa Barbara homes mortgage market interest rates to increase.

But as the week moved ahead, some bad news had differing effects, including a dip in Consumer Confidence and further unsettled, but improving news in the Santa Barbara housing marketplace, which sent money right back away from stocks, and into the safer refuge of the bond market, helping Santa Barbara area mortgage rates to reduce once again. But every action has equally the opposite reaction, and bonds and home mortgages reversed direction again, with better than anticipated unemployment news for Thursday.

Of course Friday found the news that Core inflation was probably not as heated as previously believed. The closely watched year to year core inflation numbers were reported at only 2%, as calculated by the Fed’s preferred Personal Consumption Expenditure Index (PCE), and certainly within parameters for what Fed members would prefer to observe for core inflation. Of course inflation is the nemesis of fixed rate bond issues as well as home mortgage interest rates. So this news was well received, and moved Santa Barbara properties mortgage rates to an improvement once more. So after all was said and done by the end of the week, Santa Barbara real estate mortgages ended up close to where they started, after a bit of volatility.

The Santa Barbara estate and signature property market is one which requires well informed local knowledge that is crucial to successful acquisition and sale of these rare estate properties. Custom searches of Santa Barbara properties on the beach, Santa Barbara estates, Montecito properties for sale, Montecito estates, Hope Ranch real estate, Carpinteria beach estates and information, are all available at http://www.RareEstates.com, a fine home sale transaction network, having specialized local resources and knowledge of unadvertised luxury properties and qualified Santa Barbara estates properties investors searching for property acquisition. For exclusive information about privately offered Montecito estates in the Montecito, Santa Barbara estates or Hope Ranch properties marketplace, direct your inquiries here.

Santa Barbara real estate market year to date comparison to last year shows stability and renewed strength

Stephen Downarowicz — Tue, 25 Mar 2008 08:01:26 +0000

The Santa Barbara real estate markets of Santa Barbara proper, Montecito real estate, and Hope Ranch real estate markets show continued strength and marked improvement moving through the first quarter of 2008. Statisctics below from Santa Barbara MLS for Single Family Homes and Condominiums.

This Year: 1/1/2008 to 3/24/2008
Last Year: 1/1/2007 to 3/24/2007
For: 3/24/2008

Property type Res; TYP of ‘Condo’, ‘Home/Estate’; District of – MONTECITO’, SANTA BARBARA,- HOPE RANCH’.

	Total Active				New Listings			Number Sold			Sold Volume				Average Sale Price
Area	Last Year		This Year	PCT	Last Year	This Year	PCT	This Year	PCT	Last Year	This Year	PCT	Last Year	This Year		PCT	Last Year	This Year	PCT
MONTECITO		14	23	+64	13	11	-15	3	-70	12	3	-75	20,160,000	5,560,000		-72	1,680,000	1,853,333	+10
EAST Santa Barbara		43	59	+37	40	41	+2	12	-52	23	11	-52	19,004,500	9,029,000		-52	826,283	820,818	-0
WEST Santa Barbara		41	58	+41	35	40	+14	12	-52	13	12	-7	7,845,500	9,493,000		+20	603,500	791,083	+31
HOPE RANCH		0	1	+	0	0	0	0	0	0	0	0	0	0		0	0	0	0
TYP Totals: Condo/Co-Op		98	141	+43	88	92	+4	27	-55	48	26	-45	47,010,000	24,082,000		-48	979,375	926,231	-5
MONTECITO		137	162	+18	92	91	-1	36	-30	45	34	-24	160,265,000	166,046,000		+3	3,561,444	4,883,706	+37
EAST Santa Barbara		121	179	+47	117	124	+5	48	-32	50	31	-38	58,346,850	40,410,500		-30	1,166,937	1,303,565	+11
WEST Santa Barbara		76	110	+44	77	82	+6	40	-32	47	24	-48	51,087,500	24,811,500		-51	1,086,968	1,033,812	-4
HOPE RANCH		15	16	+6	12	12	0	4	-63	6	6	0	20,895,000	17,324,080		-17	3,482,500	2,887,347	-17
TYP Totals: Home/Estate		349	467	+33	298	309	+3	128	-33	148	95	-35	290,594,350	248,592,080		-14	1,963,475	2,616,759	+33
SPACER
Grand Totals		447	608	+36	386	401	+4	155	-39	196	121	-38	337,604,350	272,674,080		-19	1,722,471	2,253,505	+31

We see the overall breakdown for sales volume is off from this same time last year due to mortgage market volitility, however average sale prices are up. Condominium average sale price is down 5% but improving measurably and much improved compared to last fall. Single family home average sale prices are up 33% YTD over last year. The Montecito real estate market contiunes to be the core strength of both the single family home and condominium markets here in the Santa Barbara real estate market place. Overall sales numbers are down but should increase moving into summer with reduced interest rates and calming lending market volitility, which has directly effected total number of closed transactions. The new stimulous package is just now kicking into gear with conforming loan limits now at $729,750 from $417,000, for Santa Barbara county real estate and volume in pending sales is increasing as a result. We look forward to these statistics inproving though out the coming months.

The Santa Barbara unique estate and signature property market is one which requires well informed local knowledge that is crucial to successful acquisition and sale of these rare estate properties. Custom searches of Santa Barbara beach properties, estates, Montecito homes for sale or Hope Ranch real estate information are available at http://www.RareEstates.com, a fine home sale transaction network, having specialized local resources and knowledge of unadvertised luxury properties and qualified estate property investors searching for properties. For exclusive information about privately offered estate properties in the Montecito, Santa Barbara or Hope Ranch Marketplace, direct your inquiries here.

Volatility in the Bond market affected Santa Barbara home loan rates violently but fixed home mortgage rates were better by around .25 percentage points ending the week.

Stephen Downarowicz — Mon, 24 Mar 2008 08:01:37 +0000

With unprecedented weekend work, the Fed, this past Sunday evening, released news that the they not only decided to move to a decreased Discount Rate by .25%, 2 days ahead of normal, but they also had helped assist the rescue of investment house Bear Stearns. The 80+ year old firm had its stock bought out by JPM Chase for $2 per share, $236 Million, a bargain basement special. Bear Stearns traded at almost $90 at the close of February, with a 52-week high almost at $160. Bear Stearns was the single largest buyer of sub-prime home mortgages, with huge eagerness for this kind of paper and they purchased sub-prime transactions averously, a strategy that certainly now looks ill advised, but now overblown. .

Adding to this crazy volatility was enormous news for Tuesday, starting with earnings and stance from two other major financial companies, Lehman Brothers along with Goldman Sachs, who reported more affirming results than had been predicted. Especially following the news of the Bear Stearns circumstances, this was highly greeted news to an edgy Stock market. New construction numbers reported varied, along with a better than expected take on wholesale inflation per the Producer Price Index. Then the Fed acted, and released their bureaucratic decision to cut Fed Fund Rates by ¾ of a %. Many people anticipated deeper cuts, but they likely kept the cut to only ¾ of a %. because of continued worries of inflation.

Then, for Wednesday, the investment house of Morgan Stanley came out with a positive earnings report, which was also seen as excellent news for the Stock market, but caused money to exit Bonds. Then of course came big news from the Office of Federal Housing Enterprise Oversight (OFHEO), announcing that they lifted particular capital restrictions that were put in place for Fannie Mae and Freddie Mac. Permitting these firms to pump $200 Billion into loan markets through the purchase of Mortgage Bonds. The probablity of increasing demand was very positive news for the Bond market and Santa Barbara home mortgage rates reflected that, which immediately lowered on the news.

Santa Barbara $50 Million Montecito beach front property, The Miramar Hotel and resort sees yet another delay

Stephen Downarowicz — Sun, 23 Mar 2008 11:33:54 +0000

Sept. 6, 2007 – Premier Montecito beach front property resort and hotel is a Santa Barbara property jewel that has been mired again in bureaucratic red tape

Rick Caruso, the new owner and developer of the signature Montecito beach property Miramar Hotel says he’s redesigned the plan for the Santa Barbara beach front property, Miramar Beach Resort and going back to Santa Barbara County to submit it. Caruso said this would likely cause significant delays in the projected opening of his Montecito beach property resort and hotel, but will keep with his desire to present to the Montecito community a project he feels they will warmly welcome.

He is not the first to be engulfed in the bureaucratic quagmire that has surrounded this premier Montecito beach property, as 2 previous would-be developers have since passed on the project. Now it’s Caruso’s turn. It seem almost criminal that a local regulating body can have such overwhelming dictatorial control, which has caused this project to be stalled for 8 years, with further delays now on the table.

The Santa Barbara and Montecito communities deserve more responsible governing in property uses, instead of the Just-Say-No stance that has plagued the Santa Barbara area for years now. It’s truly to the point where the local land use officials have become a detriment to their own constituency, with local property rights dwindling away with each passing year.