The Santa Barbara Real Estate market is definitely on fire! Sales have been through the roof while inventory continues to shrink.

Today is May 1st and so far we have had just over $400,000,000 in closed sales for this year! That’s easy math = $100,000,000 per month January-April! Wow! That is a 40% increase over last year.

Montecito properties right now are a hot commodity. First of all, we’re working with prices below 2003 and the inventory is always limited because there is a sort of no growth moratorium without it being written anywhere. The high-end market is having  tremendous movement with sales $10,000,000+ flying out the door!

If you would like more specific information, please feel free to contact me directly. My cellular is (805) 403-3844.

Thank you,

Sandy Lipowski

As always, I hope you are all well and enjoying life. Summer is just a few months away and hopefully you will be able take some time to laugh and frolic. Life is too short to minimize the fun aspect – it’s actually my favorite part.

We’re now into the 2^nd quarter of the year and it’s going gangbusters. All of a sudden buyers are making their move and our inventory is/has quickly dwindled. With prices below 2003 pricing (but still above 2002) and interest rates at historic lows – it’s no wonder that sales have been strong since the beginning of this year and have picked up momentum.

Here is a 1^st Quarter Recap comparing January-March 2012 to the prior 1^st quarter 2011. for Home Estate/PUD market in these areas; Santa Barbara South Coast County including Montecito, Hope Ranch, Santa Barbara, Goleta, Carpinteria, & Summerland according to the compiled data from the SB MLS & CORT sales.

SB MLS & CORT Sales of Homes & Planned Unit Development Summary:

• Total Number of Active Listings is down -9.3%. This is GOOD because it makes the inventory more valuable and the prices stronger. Total active listings available in 2011 were 1,037, this year down to 941.

• Total number of properties Sold is up a whopping +34.5%!  There have been 238 sales this year vs. the 177 sold in 1^st quarter of 2011.

• The Median Sales Price inched up +.06% to $795,000 this 1^st quarter vs. the $790,000 last year.

• The Average Sales Price is also up +1.0% to $1,262,585 this year vs. $1,250,466 from 2011.

(Average Sales Prices are different from the median sales prices because they are an average vs. the median sales price which is found by taking the highest price and then the lowest price and finding the median – the middle number.)

• Montecito total sales are up from 28 in 2011 to 45 this year, skyrocketing up +60%! The median sales price dropped to $1,972,000 this 1^st quarter from $2,388,000 in 2011. These low prices make Montecito inventory extremely attractive because as the market & prices go back up, these purchases should prove to be very lucrative.

• Carpinteria/Summerland sales are up +100% from 12 to 24. The median sales price is also up from $672,500 in 2011 to $690,000 this year.

• East Side of SB the number of sales are up +56% going from 46 in 2011 to 72 this year. The median sales price went down from $895,000 in 2011 to $837,500 this year.

• West Side of SB the number of sales are down 7% from 42 to 39, but the median sales price is up from $669,095 in 2011 to $739,500 1^st quarter of this year.

• Hope Ranch sales are up from 4 to 6 this 1^st quarter, up +50%. The median sales price is also up from $1,775,000 last year to $1,820,000 this year.

• Goleta North sale are down to 37 from 42 from last year, down -11%. The median sales price also dropped down to $615,000 from $685,000. 

• Goleta South sales are up from 14 to 23 in 2011, +64%, but the median sales price dropped from $649,500 to $550,000.

As I mentioned earlier this year – the conforming loan limit has been raised back up to $729,750 for our Santa Barbra South County area, which makes it easier for buyers to qualify for conventional loans.

Here is what I said in January & I’m sticking to it:

“The strength of the market is undeniable! Combining all the pertinent factors; sales prices below the 2003 levels + record breaking low interest rates + a higher conforming loan limit amount = This is the TIME TO BUY!!!

Sellers don’t hesitate either because if you sell, it’s the perfect time for jumping to a better neighborhood and bigger home so when the market takes off, you’re in a better position.”

Again, please feel free to contact me with any questions you may have.

My business is built on referrals, so I greatly appreciate your continued support and recommendations! I have met a lot of great people over the years – including you. 

Thanks for reading-

Sandy

Dear Friends,

It’s the start of a new year and we’re already through the first month! I know time doesn’t go this quickly for children. I’m not sure what age it begins to speed up, but I’m definitely there.

As we slowly climb out of the 2011 real estate doldrums, we’re anticipating an increased number of sales this year with a slight decrease in price. January has already been amazingly busy with buyers finally putting their pen to paper and making the move to buy!

Here is a Full Year Recap comparing figures from 2011 to the prior 2010 year for Home Estate/PUD market in these areas; Santa Barbara South Coast County including Montecito, Hope Ranch, Santa Barbara, Goleta, Carpinteria, & Summerland according to data complied from the SB MLS & CORT sales.

SB MLS & CORT Sales of Homes & Planned Unit Development Summary:

• Total Sales of single family residences was up in 2011 with a total of 950 properties sold vs. the 904 sold in 2010, +4.5%.

•  The Median Sales Price continues downward, going from $850,000 in 2010 down to $790,000 in 2011, -7%.

•  The Average Sales Price for 2010 was $1,459,457. In 2011 it went down –18.8% to $1,185,013.
  

(Average Sales Prices are different from the median sales prices because they are an average vs. the median sales price which is found by taking the highest price and then the lowest price and finding the median – the middle number.)

• Carpinteria/Summerland sales were up +11% from 80 to 89, but the median sales price went down from $675,000 in 2010 to $647,500 in 2011, down –4%.

•  Montecito total sales were up from 153 in 2010 to 163 in 2012, up +11%. The median sales price dropped to $2,100,000 from $2,400,000 in 2010, down – 12%

•  The East Side of SB sales were up +5.8% going from 244 in 2010 to 259. The median sales price went down from $925,000 in 2010 to $870,000 in 2011, -6%.

•  The West Side of SB sales are up 5% from 196 to 206, but the median sales price is down from $785,000 in 2010 to $686,375 for 2011, -13%.

•  Hope Ranch sales are up from 21 to 28 in 2011, +25%, but the median sales price is down from $2,212,000 in 2010 to $1,950,000 in 2011, -43%

•  Goleta South is the only area where both sales and the median sale price were down. With a total of 96 in 2010 vs. the 89 in 2011, down -7%. The median sales price also down from $670,000 in 2010 to $599,900 in 2011, -10.4%.

•  Goleta North sales are up from 157 to 162 in 2011, +3% with the median sales price dropping from $705,000 to $661,500, -6%.

Some very big news – the conforming loan limit has now been raised back up to $729,750 for our Santa Barbra South County area, which makes it easier for buyers to qualify for conventional loans. Interest rates remain at all time record lows with no increase in sight until maybe next year. Our current home prices are below 2003 prices, but still ahead of 2002 prices.

So combining all the pertinent factors; below 2003 sales prices + record breaking low interest rates + a higher conforming loan limit amount = This is the TIME TO BUY!!!

Sellers don’t hesitate either because if you sell, it’s the perfect time for jumping to a better neighborhood and bigger home so when the market takes off, you’re in a better position.

Again, please feel free to contact me with any questions you may have. 

My business is built on referrals so please continue to recommend me and please know that I greatly appreciate it! I have met a lot of great people.

Thank you,

Sandy Lipowski

Dear Friends,                                                                                          

Over half of the year is actually gone! Isn’t it amazing how quickly time flies? I can hardly hold on, it’s going so fast. Well there are a few months left to enjoy of this rather “special” year so I hope you all make the most of it.

Did you know that if you take the age you will be in 2011 (this year) and add it to the year you were born (last 2 digits), it will equal 111? Seriously, I’ve tried this with everyone and it ALWAYS works. If you have small children born in 2000+, add the same for them and the outcome will be 11. For example I will be 51 on December 30^th of this year. I was born in 1960. 51(my age this year) + 60 (year I was born) = 111. Basically 2011 is supposed to be the year that we all can get whatever we want.

So with that said, here are the figures for the 1^st half of the year January-June 2011 for the Home Estate/PUD market in these areas; Santa Barbara South Coast County including Montecito, Hope Ranch, Santa Barbara, Goleta, Carpinteria, & Summerland according to the Santa Barbara MLS.                                                     

SB Multiple Listing Service & CORT Sales of Homes & Planned Unit Development Summary:

• Total Sales of single family residences was down in 2011 with a total of 429 properties sold this year vs. the 435 sold the 1^st 6 months of ’10, -1.4%.

• The Median Sales Price is also down this year, going from $855,000 in ’10 down to $840,000 this year, -1.8%.

• The Average Sales Price for ’10 was $1,462,242, down -14% to $1,257,015 this year.

(Average Sales Prices are different from the median sales prices because they are an average vs. the median sales price which is found by taking the highest price and then the lowest price and finding the median – the middle number.)

• Carpinteria/Summerland sales are up +17% from 34 to 40 and the median sales price is also up from $675,000 to $723,750 for this year.

• Montecito sales were up from 63 in 2010 to 81 this year, up +28%. The median sales price dropped to $2,350,000 from $2,448,000 in ’10, down – 4%

• The East Side of SB sales were down -7% going from 121 to 112 and the median sales price also went down from $960,500 in ’10 to $895,000 this year. 

• The West Side of SB sales are up 10% from 90 to 99, but the median sales price is down from $813,750 in ‘10 to $701,000 for this year. 

• Hope Ranch sales are up from 10 to 13 for this year, but the median sales price is down from $3,230,000 in ’10 to $1,850,000, -43%.

• Goleta South had 53 total sales in ’10 vs. the 30 this year, down -43%. The median sales price is also down from $650,000 to $600,000 this year.

• Goleta North sales are down from 83 to 76 with the median sales price also dropping from $734,948 to $675,000.

Some very big news is that the conforming loan limit we have right now of $729,750 is set to decrease to $625,500. This is set to go into effect October 1^st of this year. So, what does that mean? Right now the average buyer puts 20% and gets a loan under that $729,750 mark. That’s a property priced around $912,000. When the limit goes down to $625,500, that same property which was priced at $912,000 now has to be priced at $781,875 for that buyer to be under the conforming loan limit. Anything over that amount will now be considered a “jumbo loan” which costs more, is harder to attain, and even less people qualify.

With prices this low and interest rates at historic lows, it’s definitely time to buy. If you sell, it’s the perfect tine for jumping to a better neighborhood and bigger home so when the market takes off, you’re in a better position.

Again, please feel free to contact me with any questions or concerns you may have. 

I also want to thank each of you for continually referring me to your friends and family. I sincerely appreciate it and have met a lot of great people.  

Thank you,

Sandy Lipowski

Hi,                                                              

Wow, it’s the 4^th quarter of the year already with the holidays right around the corner.  It’s not like time flies, it’s as if it vanishes.

To keep you updated on what’s happening in our local Real Estate market, here are the yearly figures according to our good friend & colleague, Gary Woods. These figures are for the Home Estate/PUD market in these areas; Santa Barbara South Coast County including Montecito, Hope Ranch, Santa Barbara, Goleta, Carpinteria, & Summerland.

Multiple Listing Service & CORT Sales of Homes & Planned Unit Development Summary

There is a total of 677 Properties sold as of the end of September 2010 vs. only 590 sold through the end of September  in 2009, up +14.7% this year.

The Median Sales Price is slightly up by +1% with this year’s at $850,000 vs. last years’ at $841,250.

The Average Sold Price is up +4.2% coming in at $1,438,753 for this year vs. $1,381,030 for 2009

Remember the Average Sales Prices are different from the Median Sales Prices because they are an average vs. the median sales price which is found by taking the highest price and then the lowest price and finding the median – the middle number. Sales Prices are still at 2003 levels, but the sales volume is substantially down from 2003 levels. It’s down from 909 sales to 677 sales in 2010.

Montecito sales are up from 105 last year to 109 so far this year, but the median sales price has dropped from $2.57 million last year to $2.42 this year. Sales in Hope Ranch are doing well with 14 sales this year at a median price of $2.675 million and an average sales price of $3.51 million.

Interest rates are at an all-time low. As far back as interest rates can be traced, even before WWII, they are still lower today. 30-year fixed rates are currently being offered at just 4%! This is astonishing. Fed Chairman Ben Bernanke hasn’t made any big moves and all indicators say he will keep things status quo. We will see what the upcoming election brings and see if buyers start believing in the market again and see if banks actually start making loans.

Again, please feel free to contact me with any questions or concerns you may have. 

I also want to thank each of you for continually referring me to your friends and family. I sincerely appreciate it and have met a lot of great people.  

Thank you,

Sandy

Hi,                                                                                                                                                              

I sincerely hope that this letter finds you all in good spirits and good health as we start the 2^nd half of 2010. I don’t know what the age is that you reach when time starts flying by like a whirlwind, but I’m definitely there.   

Last Thursday, local economist Mark Schneipp held a mid-year economic review giving his insight on both our local economy here on the South Coast and on our nation’s economy.

In a nutshell, he says that the economic recession is over and has been over since last year. As an economist he bases his facts on things like corporate profits. He says that corporate profits are at an all time high and equal to 2007. Of course, they’re doing great because of all of the lay-offs and cut-backs.

We, as individuals, do not feel the relief because our Ca jobless rate is 12.5%, very few people can qualify for loans and the housing market is not contributing to the recovery. Many people are behind in their mortgages or just plain upside down, owing more than the house is worth. Schneipp did say that as soon as the housing market kicks in, we will see a much stronger recovery, but that may not be until 2011. 

Now, here are the final figures for the 1^st 6 months of 2010 vs. the 1^st 6 months of 2009 for our local South County according to Gary Woods who calculates monthly statistics from our local SB MLS.

Santa Barbara South Coast County including Montecito, Hope Ranch, SB, Goleta, Carpinteria, & Summerland.

Multiple Listing Service Sales of Homes & Planned Unit Development Summary

 There are more sales of homes under $1mil than over $1mil.

The number of SOLD properties is up +22.3% from last year with 434 sold so far in 2010 vs. 355 sold in the 1^st 6 months of 2009.

Our current median sales price is up +3.3% to $857,500 from $830,100 in 2009.

The average sold price is also up +11.6% to $1,464,177 from $1,311,649 in 2009.

The median list price is down -12%. It’s $1,095,000 for this year vs. $1,245,000 for last year.

Montecito has seen 57 sales this year compared to 52 last year with the median sales price up slightly from $2.33mil in 2009 to $2.48mil in 2010.

 We all know that interest rates are a big factor in projecting what will happen for the remainder of the year. According to all indicators, Fed Chairman Ben Bernanke isn’t going to raise rates any time soon. In fact, interest rates are right now at an all time low for as far back as they can track interest rates, lower than before World War 2.

Please feel free to contact me with any questions or concerns you may have. 

As always, I thank each of you for continually referring me to your friends and family. I sincerely appreciate it and have met a lot of great people.  

Best regards,

Sandy

Cellular (805) 403-3844

Solstice marks the beginning of summer. It happens twice per year when the sun is at its greatest distance from the celestial equator. The summer solstice in the Northern Hemisphere occurs about June 21, when the sun is in the zenith at the tropic of Cancer; the winter solstice occurs about December 21, when the sun is over the tropic of Capricorn. The summer solstice is the longest day of the year and the winter solstice is the shortest.

In layman’s terms, it means it’s time to go to the beach, walk the dog after work, barbecue with friends, ride bikes down to the harbor, and my new favorite – hike up Cold Spring Trail a couple of times per week.

Half the year is gone, but half the year is still ahead of us. Make the most of it. Life goes by way too fast.

HAPPY SUMMER!

Sandy

Hi,

If you’re interested, click on the actual post and read what others are saying.

Also, if you want to contact me directly please email me at sandy.lipowski@sothebyshomes.com or call me on my cell (805) 403-3844.  

If you’re on the fence about either selling your house or buying a home, call or email me and I’ll help you by explaining the most reasonable and logical options.

Have a great day-

Sandy

SOTHEBY’S INTERNATIONAL REALTY

A brief history of median sales prices for Montecito

single family homes

Year             Median Price           % of change

1981            $   285,000            baseline

1982            $   276,200            -3%

1983            $   257,500             -7%

1984            $   330,000            16%

1985            $   360,000              9%            The 1980’s saw a 152% gain

1986            $   399,250            11%

1987            $   438,500            10%

1988            $   605,000            38%

1989            $   717,000             18%

1990            $   905,000            26%

1991            $   800,000            -12%

1992            $   745,000            -7%

1993            $   650,000            -13%

1994            $   596,500             -8%

1995            $   625,000              5%            The 1990’s saw a 21% gain

1996            $   645,000              3%            The 20 year gain was 286%

1997            $   760,000            18%

1998            $   950,000            25%

1999            $1,100,000            16%

2000            $1,497,500            36%

2001            $1,425,000            -4%

2002            $1,600,000            12%

2003            $1,810,000            13%

2004            $2,412,500            33%  

2005            $2,403,750              0%            The 2000’s saw a 56% gain

2006            $2,682,500            11%            The 30 year gain was 721%

2007            $2,900,000              8%

2008            $3,300,000            13%

2009            $2,340,000             -29%

2010  YTD    $2,485,000            11%

If you would like the history for all of Santa Barbara South County including everything from Goleta-Carpinteria, send me an email and I’ll email it to you. I’ve been trying to post it on here for the last hour and am having what we will call technical difficulties.

Summer is right around the corner, I am looking so forward to it.  Hope this letter finds you all well.

Sandy

Hi All-

Summer is right around the corner, and I am looking forward to it. One of my favorite things about living in Santa Barbara is taking a bike ride down to the beach and enjoying how fragrant the town is along the way. The smells are wonderful, and the orange blossoms are amazing. It’s a wonderful place to be and the beauty of being a Realtor here is that people are drawn to SB for no other reason than a “desire” to live here. We’re not fueled by employment, affordability, or growth. People live here because they want the lifestyle. Our housing market has a minimum growth rate which causes our inventory to be more valuable. Of course, our local economy is effected by our nation’s troubles, but is still stronger than most.

 Here are final 1^st quarter figures according to Gary Woods who calculates monthly statistics from our local SB MLS.

 Santa Barbara South Coast County including Montecito, Hope Ranch, SB, Goleta, Carpinteria, & Summerland.

January-March, 2010 Multiple Listing Service Sales of Homes & Planned Unit Development Summary

 There were a total of 174 Properties sold in 1^st Quarter 2010 vs. 144 sold in 2009, up +20.8% in 2010.

 Our Median Sales Price went down only -1.4% from $822,500 in 2009 to $811,250 in 2010. The Average Sold Price though went up from $1,185,336 in 2009 to $1,264,729 = Up +6.7% for this Year. Of course, if you take out Montecito and Hope Ranch, the Average Sold Price is down a bit, from $913,449 in 2009 to $905,240 for 1^st quarter this year = -0.9%. Remember, the Average Sales Prices are different from the median sales prices because they are an average vs. the median sales prices which is found by taking the highest price and then the lowest price and finding the median – the middle number.

Very Good News: # of Total Active Listings is Down (making inventory more valuable) 1,081 Active Listings in 2009 vs. 1,014 in 2010 = -6.2%. The # of Pending Listings is UP +21.9%. There were 178 in escrow in 2009, and now at the end of March we had 217 properties in escrow this Year.

By area the Total # of Sales was as follows: Carp/Summerland 6 total sales in ’09 went up to 19 sales this year, up +216%. Montecito was flat with 24 sales for 1^st quarter both ’09 and this year. East of State Street was up from 33 in ’09 to 47 total sales, up+42%. West of State also up +14% going from 34 sales in ’09 to 39 sales this year. Hope Ranch went from 2 sales in ’09 to 5 sales 1^st Q this year, Up + 150%. Goleta North flat with 33 sales and Goleta South down slightly; 18 sales in ’09 to 16 sales this year.

Area Average Sales Prices are: Carp/Summerland $1,016,700, down – 42% but it’s more “normal” this year, last year it was extremely skewed by high-end beach properties that sold.  Montecito is Up +34% to an average sales price of $3,613,255. East of State Street is $1,075,595, Up +3%. West of State down -5% to $863,777. Hope Ranch was up +51% to $3,592,850. Goleta South -5% to $742,520. Goleta North down -7% to $731,565.

 There are already 6 Properties that sold for over $5 million in 1^st Q 2010. Three were over $10 million. Bigger News: 5 more closed already in April ALL Over $7 million!

As I said last time, there is a lot of momentum and strength in our current Real Estate market.  Sales continue to grow and the number of properties entering into escrow rises while the number of available properties for sale still remains lower than last year.

Feel free to contact me with any questions or concerns you may have. I know how to get you the Highest & Best Price in the shortest amount of time when selling your property and the most affordable price and terms when buying. I can also help you get your property “ready for sale.” 

 I also want you to know how much it means to me when you continually refer me to your friends and family. I am sincerely thankful and have met a lot of great people. Your referrals are Greatly appreciated!

 Best regards,

SANDY