Mar 29th	Are Foreign Nationals Still Buying Santa Barbara CA Real Estate?
2010	Categories: Foreign Buyers & Sellers

With both the combination of declining real estate values over the last few years in the US and the rise of the Euro (and most all currencies) against the US Dollar, real estate in California beach communities was ripe with foreign buyers.  High end communities such as Santa Barbara CA with its’ quality lifestyle and beautiful natural setting attracted many of these foreign nationals. Today though, the demand is not quite as high as it was in 2007 and 2008, but it nevertheless is still there.  The main reasons for only this small decrease in demand are pretty straight forward:

1) The US Dollar continues to only slowly climb against foreign currencies

2) Real Estate and the overall economy in most other countries has not been hit as hard as here in the US

3) Santa Barbara is still Santa Barbara

Just in the last several weeks I have talked with several agents that are working with foreign nationals mainly from the U.K., Russia and Canada.  I myself am working with a few clients as well from the same areas and see no reason that this trend will not continue.

Whether you are looking for an investment, a second home, vacation property or to retire, California real estate in areas such as Santa Barbara and Montecito CA. will most likely always be appealing.

View: Current Inventory of Santa Barbara Property $1-5 Million

View: Current Inventory of Santa Barbara Property $5-10 Million

View: Current Inventory of Santa Barbara Property $10 Million plus

Further Reading:

1. Tips for Canadians Looking to Buy Real Estate in California
2. Santa Barbara Luxury Real Estate
3. Santa Barbara Oceanfront Areas

For information on Santa Barbara Real Estate, Montecito Real Estate and/or our surrounding areas, as well as any other aspects of life in our area, please don’t hesitate to contact Kevin Schmidtchen at Sotheby’s Int’l Realty.

Thank you for reading.  I hope you find Santa Barbara Real Estate Voice informative. Please feel free to contact me or comment below with any thoughts.

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Tags: santa barbara foreign nationals, santa barbara real estate foreign nationals

This entry was posted on Monday, March 29th, 2010 at 1:29 pm and is filed under Foreign Buyers & Sellers. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

1. Engel Volkers said at April 2nd, 2010 at 2:29 pm

   I agree that foreign investors are still coming to the US to buy real estate especially in the high end. In addition, the fact that most European high end investors are all cash buyers is a huge advantage in a time when lending has become so hard and more homes are falling out of escrow.

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