Santa Barbara Real Estate Continues to Prosper while other markets soften.

As a 17 year career veteran in the Santa Barbara real estate market, Demographics, Slow Growth Development, Geography and Climate are an irresistible draw to paradise.

 We are asked constantly by locals and visitors alike: How do Santa Barbara Real estate values continue their solid growth, even while other markets fluctuate. The answer is really relatively simple in a couple of aspects. First of all, look around. Santa Barbara California is one of the most beautiful and desirable locations on earth. Year round temperatures in the 70’s and over 300 days of sunshine annually is a rare commodity on this planet. Beautiful beaches, boating, incredible natural resources of the Cannel Islands 25 miles off shore and close in, the awe inspiring mountain terrains of the Santa Ynez range. So naturally the community grew, first a Mission site, then a resort town. And now home to a diverse albeit affluent population. The geography, with the ocean to the south and west and Santa Ynez Mountains to our north and east, create a finite area with a micro climate that is the envy of the rest of the world and that, in and of itself, has strong influence on Santa Barbara property demand staying strong.

Additionally, we have the very beginnings of well healed boomer generation looking to live wherever they choose and with the means to do so. The first of the Baby Boomers are reaching that point in life, and will be increasingly growing in population for years to come. Boomers are estimated to control over 50% of the entire household income in the United States, with purchasing power of $2.1 trillion, annually. At a population over 78 million, Baby Boomers are a major economic power to be reckoned with. Having cultured spending habits, most have enjoyed excellent gains from real estate holdings. This long, fruitful love affair with real estate will remain a reliable source for wealth management and pride of ownership in location and style are major criteria in property ownership, criteria describing Santa Barbara CA real estate.
 
With active life styles, they are adamant in choosing a place to spend the rest of their still quite active years, in the most attractive place available to accommodate that lifestyle. Santa Barbara more than fits the bill. This is why we believe the Santa Barbara Real estate market segment above $3 million has continued solid appreciation gains and demand while other real estate markets have softened. And with the boomer demographics mentioned above, we see every reason for that trend to continue.
 
There is also a growing concern garnering the immediate focus of the world regarding our heavy consumption of fossil fuels and global climate effects. The number one consumer of fossil fuel energy in the world is not automobiles, but buildings, particularly residential homes, as they are the most abundant form of building in the world and the greatest consumer of energy. The temperate Sunbelt areas of the country are again having a renewed focus as a result of this concern with energy consumption and carbon footprints. Homes in Santa Barbara need almost no heat or air conditioning year round. Just simply living here creates conservation as less fossil fuel consumption is needed day to day. Demand for such a natural low impact climate location will only grow in the coming years as these concerns magnify. Population movement is again starting away from large urban centers, but not necessarily to rural settings but to smaller, central communities which offer all the benefits of urban lifestyles without the congestion of over population pressures and transportation challenges. Sustainable communities of optimal size, where a sense of community among its populace can be felt and inspired have always been most attractive and becoming more so as our society matures. Local communities, where a voice can be heard and where there are those who will listen. The Boomer demographic most definitely has a strong desire for such places. Once again the Santa Barbara area, which started to affect such sustainable community appeal nearly 100 years ago, is all these things in a single community and takes great pains to maintain that identity.

One stance prevalent in the Santa Barbara community is its zealous insistence on minimal growth. This is almost unnecessary as the geographic area of Santa Barbara’s south coast is essentially already beautifully "grown up", and in fact has become a model that other municipalities have emulated. There are no large developable tracts of land, just scattered individual lots for the most part, and building on those remaining parcels is a challenge of will and humility when dealing with local government regulators. What little development that now appears is strongly influenced toward the latest Green Building techniques. So understandably, pressure for existing Santa Barbara homes is sustained.

So with not much Santa Barbara left to go around, a sustained demand for its life style from a world wide community, and with all the attractive features required of where an affluent boomer generation wants to end up, Santa Barbara is looking like a pretty sure long term stake for continued real property appreciation.

 

The Santa Barbara real estate and unique signature property market requires well informed and invloved local expertise that is essential for the finding, successful acquisition, sale, and value analysis of 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.