Montecito

Montecito Real Estate – 93108 Zip Code Once Again Among The Richest in America at #3

High end sales are nothing new for Santa Barbara and our surrounding communities.  Within Hope Ranch, Montecito and along the coastline, we see some very exclusive high end real estate sales each and every year.  Many of these sales are topping out above the $10 million mark.  I just read a recent article by CNBC, that once again ranks Montecito and 93108 as the 3rd rated zip code in America when it comes to the number of homes that are selling at $10 million or more.  Over the last year,... Continue Reading >

What Kind of Real Estate Does $1 Million and $2 Million Buy You In Santa Barbara and Montecito?

A few times a year I like to give updates on what you can expect for various price points in Santa Barbara and Montecito.  Over the last few years this has changed quite drastically as the market first went down and now has come back up at such a strong pace. Most homes today for example are worth on average about 20% more than they were just a year ago and so this leads to generally a decently different home.  In Santa Barbara, if you are at the $1 Million price point and you... Continue Reading >

Benefits of Pocket Listings Here in Santa Barbara and Montecito

What exactly is a Pocket Listing and why are they used? For various reasons, property owners will discuss with their agents the pros and cons of keeping their home for sale as a pocket listing.  Not every pocket listing is treated the same and here in Santa Barbara and Montecito it really depends on the price point and activity of the market. First...what is a pocket listing?  A "pocket listing" is a loose term given to a home that is listed with a broker and for sale, yet it is not submitted into the... Continue Reading >

2012 Santa Barbara Real Estate Year in Review

A little late to be doing a recap of the 2012 real estate market here in the Santa Barbara area, but with the last 5 weeks filled with a combination of my family getting sick, being extremely busy with work and the lack of sleep because of our new little baby...that is what unfortunately happens. So what happened in 2012? In hindsight it is now very clear to see that anyone who had the foresight to buy property from around October 2011 - April 2012 were able to time the bottom of our real estate... Continue Reading >

5 Year Average Selling Price For Santa Barbara Real Estate

Here is a great simple graph that looks at the overall average selling prices for homes here in the Santa Barbara area.  The graph breaks down the prices into the main neighborhoods of Santa Barbara...Montecito, Santa Barbara proper, Carpinteria / Summerland, Hope Ranch and Goleta. One of the first obvious looks shows that our high end properties are really starting to see a big increase in demand.  Both Hope Ranch and Montecito have seen prices increase a good amount in the last 12-18 months.  Demand in our very high end market (roughly... Continue Reading >

Yearly Sales Price Comparison for The Montecito CA Real Estate Market

How are overall prices and number of homes sold compared to the last 4-5 years? Here below is a quick look at the overall comparisons in both prices of single family home sold in Montecito CA. from 2008 to the present, as well as the number of homes actually sold.  As you will see, overall sales since the downturn in 2008 have really picked up in the Montecito area, especially over the last 12 months.  In addition, the average price of homes selling has come off the bottom. In hindsight, most people are... Continue Reading >

What Are Home Prices in The Montecito Union School District Here in Montecito?

Unless you are sending your child to private school, the exact school district you purchase a home in is a major part of most families decision when buying real estate.  Here in Montecito CA., the biggest public school is Montecito Union and for most families they consider this a wonderful school.  Parents are very passionate about schools, so it is hard to compare exact pros and cons so I am not going to really talk about this here.  But if you are looking to buy a home in the Montecito... Continue Reading >

3 Very Nice Recent Real Estate Testimonials From Clients Here in Santa Barbara, Montecito and Summerland

To Whom it may Concern I have known Kevin Schmidtchen since our days at Santa Barbara High School (Class of 88).  He is an exemplary human being, world class athlete, of highest ethical and moral standard, and I am honored to call him a friend. It is no surprise to me that Kevin has become a premier Real Estate guru in the Santa Barbara County.  With his attention to detail, his honorable status among his peers and community, his great negotiating skills, and his knowledge of our ever changing market…Kevin is the... Continue Reading >

What Does $3 Million Buy You Today in The Montecito Real Estate Market?

Every few months I try and give an update and snapshot of what $1 Million can buy you in Santa Barbara.  With the ups and downs of the market over the past 10 years, this has definitely varied each year and it is interesting to look at the comparisons. This week I am going to start doing the same, but specifically in Montecito.  Since Montecito tends to always be one of the top 10 real estate zip codes in the country, I am going to make the benchmark price point be $3... Continue Reading >

Santa Barbara, Montecito, Hope Ranch and Goleta Cort Reports May 2012

Here are the latest CORT report statistics for real estate here in Santa Barbara, Montecito, Goleta and Hope Ranch. The overall market also continues to be very strong with most well priced homes selling within a few days to a few weeks.  Buyers continue to be very comfortable with prices and are taking advantage of incredibly low interest rates.  Other strong signs for the market is that many investors are now buying again as well as cash investors.  We are also experiencing a lack of inventory in certain areas and price... Continue Reading >

High End Luxury Montecito Real Estate Sales Continue Their Strong Pace

The very high end luxury real estate market here in Montecito is seeing a great deal of activity and sales here in the first part of the year.  This is in pretty stark comparison to the sales here in the last year(s). 2009 - 10 Total sales over $7.5 million 2010 - 14 Total sales over $7.5 million 2011 - 4 Total sales over $7.5 million In 2012, we have already seen 8 total closed sales over the first 5 months of the year, 5 of which have been over $15 million. Right now in our very high... Continue Reading >

What Does $1 Million Buy in Today’s Very Strong Santa Barbara Real Estate Market?

Where is our real estate market today? We continue to see buyers very very comfortable with where the Santa Barbara real estate market is today.  Most reports and statistics are also showing that this very strong market is not just a tick here and there, but a market with "very strong legs".  We have now seen about 6-8 straight months of solid activity with homes selling quickly and prices very stable.  Here in Santa Barbara, we are now once again confronted with multiple offer situations on many homes, with some homes even seeing... Continue Reading >