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Kevin Schmidtchen

Realtor
Sotheby's International Realty

1436 State Street

Santa Barbara, CA 93101

[email protected]

Phone or Text

(805) 689-6877

Foreclosures & Bank Owned

Where Have The Foreclosures Gone in Santa Barbara?

Santa Barbara Real Estate Voice Compared to many other towns across California, Santa Barbara's real estate market has held up (or recovered) pretty well since the market "crashed" in 2007.  After dropping roughly 50% from peak prices, our real estate market has rebounded on average about 22-25% across the board.  In the last 16 months, the market has been incredibly strong across all price points with a huge buyer demand. One main reason for this spike in our market has been the limited inventory...and part of this has been the reality that there are not many... Continue Reading >

Are Bank Owned Sales Prevalent in Montecito? August 2011 Update

Santa Barbara Real Estate Voice Here are the latest statistics for real estate sales in Montecito for August 2011.  The shaded area with an ‘X’ states whether the property was a bank owned (REO) sale or not.  Although many people would love to find bank owned foreclosure properties in Montecito, the reality is that almost all of the sales are still traditional sales in Montecito.  Additionally, most of the REO’s tend to be at the lower end of the price scale.   View: Santa Barbara / Montecito Real Estate $1-3 Million View: Santa Barbara / Montecito Real Estate $3-5 Million View: Santa... Continue Reading >

What Part of the Santa Barbara Real Estate Market Sees the Most Foreclosures and Short Sales?

Santa Barbara Real Estate Voice Since the peak of our real estate market in 2007 and 2008 (Montecito until 2008), property values have fallen on average here in Santa Barbara around 35-38%.  Certain unique homes have fallen somewhat less in value, while certainly other pockets of the market have fallen more in value upwards of around 40-45%. Because of this reality, many people have unfortunately lost all their equity in their homes and have had to go the route of foreclosing on their homes or trying to sell their homes as short sales. Often I am asked... Continue Reading >

What are The Most Crucial Components when Buying a Short Sale or Foreclosure here in Goleta, Santa Barbara and Carpinteria?

Santa Barbara Real Estate Voice The obvious lure from a buyer's perspective of both short sales and REO (real estate owned) properties is the chance to get a property at a discounted price. Here in Carpinteria, Goleta and Santa Barbara, this opportunity does exists, but not without its pitfalls.  The best way to deal with these pitfalls is to get educated about the most common "issues/nightmares" that come with these deals.  Although there are many factors to consider...the biggest for most tends to be TIME. TIME -  The most crucial asset we have in life.  When dealing... Continue Reading >

Where do I Find The Least Expensive Real Estate in Santa Barbara CA?

Santa Barbara Real Estate Voice A few times a month I am contacted by people (especially from out of town) who are interested in the most affordable areas of real estate here in the Santa Barbara area.  Most often these people are very aware of the higher real estate prices here in our town and are expecting the prices to be what they area...but this is not always the case. To us that live here, real estate prices are high, but we do understand the quality of life that Santa Barbara offers.  We understand that when... Continue Reading >

Are you an Ideal Candidate for a Short Sale here in Goleta CA?

Santa Barbara Real Estate Voice Tips to Avoiding Foreclosure: Who is the Ideal Candidate for a Short Sale? The reality for people that are unfortunately facing foreclosure is not something that is taken lightly.  The prospect of not just losing your home, but dealing with all the emotional and financial realities that come with it can be more more than overwhelming. Fortunately, certain people may be in a position to avoid this legal, financial, and emotional turmoil by going the route of a short sale. Do you qualify to obtain relief through a short sale of your home? Here... Continue Reading >

Basics of a Short Sale with Regards to Real Estate in Santa Barbara CA.

Santa Barbara Real Estate Voice If you are in a financial position that you are behind on your mortgage payments or are simply considering not making these payments because the value of your home has dropped below the open market value, then you are most likely considering the potential option of a short sale of your home.  If so, then most likely you are also wondering how the whole process exactly works and how it will unfold.  There is no need to feel confused as most of the steps are very basic. Deciding that it... Continue Reading >