http://santabarbaraliving.com/ViewBlog/ This page contains the blog. Wed, 19 Nov 2008 15:10:00 +0000 http://ubertor.com/?v=1.0 en This is an XML content feed. It is intended to be viewed in a newsreader or syndicated to another site, subject to copyright and fair use. http://santabarbaraliving.com/ViewBlog/43/ http://santabarbaraliving.com/ViewBlog/43/#comments Mon, 27 Oct 2008 16:20:47 +0000 Listings http://santabarbaraliving.com/ViewBlog/43/ I just sold this House at 6266 Marlborough Drive, Goleta, CA .
View this recently sold House or see all my home sales Read More]]> I just sold this House at 6266 Marlborough Drive, Goleta, CA .
View this recently sold House or see all my home sales Read More ]]> http://santabarbaraliving.com/ViewBlog/43/#comments http://santabarbaraliving.com/ViewBlog/41/ http://santabarbaraliving.com/ViewBlog/41/#comments Mon, 27 Oct 2008 16:20:32 +0000 Listings http://santabarbaraliving.com/ViewBlog/41/ I just sold this House at 3813 Center Avenue, Santa Barbara, CA .
View this recently sold House or see all my home sales Read More]]> I just sold this House at 3813 Center Avenue, Santa Barbara, CA .
View this recently sold House or see all my home sales Read More ]]> http://santabarbaraliving.com/ViewBlog/41/#comments http://santabarbaraliving.com/ViewBlog/39/ http://santabarbaraliving.com/ViewBlog/39/#comments Mon, 27 Oct 2008 16:20:07 +0000 Listings http://santabarbaraliving.com/ViewBlog/39/ I just sold this Condo at 2630 State Street, Unit 7, Santa Barbara, CA .
View this recently sold Condo or see all my home sales Read More]]> I just sold this Condo at 2630 State Street, Unit 7, Santa Barbara, CA .
View this recently sold Condo or see all my home sales Read More ]]> http://santabarbaraliving.com/ViewBlog/39/#comments http://santabarbaraliving.com/ViewBlog/37/ http://santabarbaraliving.com/ViewBlog/37/#comments Mon, 27 Oct 2008 16:19:57 +0000 Listings http://santabarbaraliving.com/ViewBlog/37/ I just sold this House at 6266 Marlborough, Goleta, CA .
View this recently sold House or see all my home sales Read More]]> I just sold this House at 6266 Marlborough, Goleta, CA .
View this recently sold House or see all my home sales Read More ]]> http://santabarbaraliving.com/ViewBlog/37/#comments http://santabarbaraliving.com/ViewBlog/35/ http://santabarbaraliving.com/ViewBlog/35/#comments Mon, 06 Oct 2008 21:16:04 +0000 General http://santabarbaraliving.com/ViewBlog/35/ This is a challenging time in many areas of our economy and real estate has been hit especially hard.  It is our hope that the federal bailout will help ease the credit markets providing necessary liquidity to get things moving again.  I felt that the President of the California Association of Realtors provided a comprehensive overview of the bill.  Rather than paraphasing it for you, I am including it below. 


 


Oct. 3, 2008


 


Dear C.A.R. Member:

Earlier today, the U.S. House of Representatives approved the Emergency Economic Stabilization Act by a 263 to 171 vote. The legislation was quickly signed into law by President Bush, capping what has been a very tumultuous two weeks for the credit and financial markets.

This was a difficult decision for our elected representatives to make, especially given the abbreviated time period for review and debate that the gravity of the situation warranted. While passage of the Act should enable the credit markets and the U.S. financial system to set the stage for their eventual recovery, this was only the first step in what will likely take weeks and even months to wend its way through the system before reaching Main Street.

But it was an important first step. The health of the nation’s housing market is critical to the financial well being of every household in the country, and is front and center here in

California

.

Here’s what the legislation does:

Helps American families keep their homes by requiring the Treasury Dept. and any federal agency that owns or controls troubled mortgages to modify those mortgages wherever possible; this may include reducing the principal or interest rate; and extends till the end of 2012 the exclusion from federal income tax of mortgage debt forgiveness.

Addresses the credit crisis by allowing financial institutions to immediately sell $250 billion in troubled assets to the U.S. Treasury Department under the newly created Troubled Assets Relief Program (TARP).  Another $100 billion would be made available upon the President’s request.  Should the President deem it necessary, and with Congressional review, the Treasury Dept. may utilize the remaining $350 billion;

Protects taxpayers by allowing the Treasury Dept. to take an ownership stake in participating companies. In addition, if after five years TARP has incurred a net loss, the President must propose legislation that would force participating companies to reimburse the government to make up the difference;

Sets up an insurance program, funded by the financial industry, to guarantee companies’ troubled assets, including mortgage-backed securities purchased prior to March 14 this year;

Curbs executive pay for companies utilizing TARP;

Sets up two oversight committees, a Financial Stability Board, and a congressional oversight panel, to which the Financial Stability Board would report;

Creates renewable energy tax breaks for individuals and businesses, including a deduction for the purchase of solar panels; as well as continuing other tax breaks that were set to expire; and extends relief from the Alternative Minimum Tax (AMT) by another year;

Allows the SEC to suspend the required mark-to-market accounting standards and orders a study to be done on the rule’s impact on financial institutions;

Shields bank deposits by temporarily raising the FDIC insurance cap to $250,000 from $100,000; and temporarily increases the federal insurance level for credit union savings to $250,000, both till the end of 2009.

We’re appreciative of the efforts of our congressional leaders in both houses as well as of our peers at NAR. Their efforts helped secure adequate protections for both consumers and taxpayers, as well as stricter oversight protocols than what were initially contained in the legislation. C.A.R. will continue to study and report to you additional information and analysis through our weekly “C.A.R. Newsline” and “Market Matters” e-mail newsletters.

Sincerely,

William E. Brown
2008 President

CALIFORNIA

ASSOCIATION OF REALTORS®


 

Read More]]> This is a challenging time in many areas of our economy and real estate has been hit especially hard.  It is our hope that the federal bailout will help ease the credit markets providing necessary liquidity to get things moving again.  I felt that the President of the California Association of Realtors provided a comprehensive overview of the bill.  Rather than paraphasing it for you, I am including it below. 


 


Oct. 3, 2008


 


Dear C.A.R. Member:

Earlier today, the U.S. House of Representatives approved the Emergency Economic Stabilization Act by a 263 to 171 vote. The legislation was quickly signed into law by President Bush, capping what has been a very tumultuous two weeks for the credit and financial markets.

This was a difficult decision for our elected representatives to make, especially given the abbreviated time period for review and debate that the gravity of the situation warranted. While passage of the Act should enable the credit markets and the U.S. financial system to set the stage for their eventual recovery, this was only the first step in what will likely take weeks and even months to wend its way through the system before reaching Main Street.

But it was an important first step. The health of the nation’s housing market is critical to the financial well being of every household in the country, and is front and center here in

California

.

Here’s what the legislation does:

Helps American families keep their homes by requiring the Treasury Dept. and any federal agency that owns or controls troubled mortgages to modify those mortgages wherever possible; this may include reducing the principal or interest rate; and extends till the end of 2012 the exclusion from federal income tax of mortgage debt forgiveness.

Addresses the credit crisis by allowing financial institutions to immediately sell $250 billion in troubled assets to the U.S. Treasury Department under the newly created Troubled Assets Relief Program (TARP).  Another $100 billion would be made available upon the President’s request.  Should the President deem it necessary, and with Congressional review, the Treasury Dept. may utilize the remaining $350 billion;

Protects taxpayers by allowing the Treasury Dept. to take an ownership stake in participating companies. In addition, if after five years TARP has incurred a net loss, the President must propose legislation that would force participating companies to reimburse the government to make up the difference;

Sets up an insurance program, funded by the financial industry, to guarantee companies’ troubled assets, including mortgage-backed securities purchased prior to March 14 this year;

Curbs executive pay for companies utilizing TARP;

Sets up two oversight committees, a Financial Stability Board, and a congressional oversight panel, to which the Financial Stability Board would report;

Creates renewable energy tax breaks for individuals and businesses, including a deduction for the purchase of solar panels; as well as continuing other tax breaks that were set to expire; and extends relief from the Alternative Minimum Tax (AMT) by another year;

Allows the SEC to suspend the required mark-to-market accounting standards and orders a study to be done on the rule’s impact on financial institutions;

Shields bank deposits by temporarily raising the FDIC insurance cap to $250,000 from $100,000; and temporarily increases the federal insurance level for credit union savings to $250,000, both till the end of 2009.

We’re appreciative of the efforts of our congressional leaders in both houses as well as of our peers at NAR. Their efforts helped secure adequate protections for both consumers and taxpayers, as well as stricter oversight protocols than what were initially contained in the legislation. C.A.R. will continue to study and report to you additional information and analysis through our weekly “C.A.R. Newsline” and “Market Matters” e-mail newsletters.

Sincerely,

William E. Brown
2008 President

CALIFORNIA

ASSOCIATION OF REALTORS®


 

Read More ]]> http://santabarbaraliving.com/ViewBlog/35/#comments http://santabarbaraliving.com/ViewBlog/34/ http://santabarbaraliving.com/ViewBlog/34/#comments Wed, 10 Sep 2008 12:47:43 +0000 Listings http://santabarbaraliving.com/ViewBlog/34/ I just finished uploading this House for sale, 43 Alston Place, Santa Barbara, CA
Tucked away at the end of a quiet cul-de-sac and surrounded by lovely gardens this large, ocean view, home in orignal condition is great 'as is' with estate potential to match the neighbors. A large basement features separate living quarters, a rec room with wet bar, workshop, laundry room and an oversized 2-car garage. There is abundant storage/parking
Read More]]> I just finished uploading this House for sale, 43 Alston Place, Santa Barbara, CA
Tucked away at the end of a quiet cul-de-sac and surrounded by lovely gardens this large, ocean view, home in orignal condition is great 'as is' with estate potential to match the neighbors. A large basement features separate living quarters, a rec room with wet bar, workshop, laundry room and an oversized 2-car garage. There is abundant storage/parking
Read More ]]> http://santabarbaraliving.com/ViewBlog/34/#comments http://santabarbaraliving.com/ViewBlog/32/ http://santabarbaraliving.com/ViewBlog/32/#comments Tue, 12 Aug 2008 10:31:09 +0000 General http://santabarbaraliving.com/ViewBlog/32/ Read More]]> Read More ]]> http://santabarbaraliving.com/ViewBlog/32/#comments http://santabarbaraliving.com/ViewBlog/30/ http://santabarbaraliving.com/ViewBlog/30/#comments Mon, 28 Jul 2008 08:49:02 +0000 General http://santabarbaraliving.com/ViewBlog/30/ The California Association of Realtors recently posted statewide sales for June.  As you can see in the accompanying articles sales are up and prices are down.  There are a significant number of distressed properties available and the bank owners need to get the off their books which they do by slashing the prices dramatically.  Unfortunately, this has a negative impact on neighboring properties. 


It is great news that buyers are making purchasing commitments where before they were sitting on the sidelines.  Once the bank owned properties are flushed out of our inventory, pricing will likely rise.  Those who purchase now will be extremely happy a few years from now. 


C.A.R. reports sales increased 17.5 percent; median home price fell 37.7 percent in June


LOS ANGELES (July 25) – Home sales increased 17.5 percent in June in California compared with the same period a year ago, while the median price of an existing home fell 37.7 percent, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported today.


“Statewide home sales remained above the 400,000 level for the second month in a row, and up nearly 18 percent from a year ago,” said C.A.R. President William E. Brown. “Following a 30-month string of year-to-year percentage decreases that began in October 2005, sales last month also posted their third consecutive year-to-year gain.


“Sales were driven in part by large shares of deeply discounted distressed sales in many parts of the state,” he said. “With lower prices and favorable interest rates, affordability also has improved significantly in recent months, paving the way for many buyers to purchase their first home.”


Closed escrow sales of existing, single-family detached homes in California totaled 420,550 in June at a seasonally adjusted annualized rate, according to information collected by C.A.R. from more than 90 local REALTOR® associations statewide. Statewide home resale activity increased 17.5 percent from the revised 357,890 sales pace recorded in June 2007.


The statewide sales figure represents what the total number of homes sold during 2008 would be if sales maintained the June pace throughout the year. It is adjusted to account for seasonal factors that typically influence home sales.


The median price of an existing, single-family detached home in California during June 2008 was $368,250, a 37.7 percent decrease from the revised $591,280 median for June 2007, C.A.R. reported. The June 2008 median price fell 4.3 percent compared with May’s $384,840 median price.


“The significant declines in the median price over the past several months are largely due to a dramatic shift in the sales mix since the onset of the credit crunch and the increase in the share of distressed sales,” said C.A.R. Chief Economist Leslie Appleton-Young. “A year ago, the under $500,000 price range accounted for 40 percent of sales, the middle segment made up about 45 percent, and the over $1 million segment captured 15 percent of the market. As of June 2008, the shares had shifted to 67 percent, 24 percent, and 9 percent, respectively.”


Highlights of C.A.R.’s resale housing figures for June 2008:


·       C.A.R.’s Unsold Inventory Index for existing, single-family detached homes in June 2008 was 7.7 months, compared with 10.2 months (revised) for the same period a year ago. The index indicates the number of months needed to deplete the supply of homes on the market at the current sales rate.


·       Thirty-year fixed-mortgage interest rates averaged 6.32 percent during June 2008, compared with 6.66 percent in June 2007, according to Freddie Mac. Adjustable-mortgage interest rates averaged 5.15 percent in June 2008, compared with 5.68 percent in June 2007.


·       The median number of days it took to sell a single-family home was 49.1 days in June 2008, compared with 51.5 days (revised) for the same period a year ago.


Regional MLS sales and price information are contained in the tables that accompany this press release. Regional sales data are not adjusted to account for seasonal factors that can influence home sales. The MLS median price and sales data for detached homes are generated from a survey of more than 90 associations of REALTORS® throughout the state. MLS median price and sales data for condominiums are based on a survey of more than 60 associations. The median price for both detached homes and condominiums represents closed escrow sales.


In a separate report covering more localized statistics generated by C.A.R. and DataQuick Information Systems, 2.9 percent, or 11 out of 385 cities and communities, showed an increase in their respective median home prices from a year ago. DataQuick statistics are based on county records data rather than MLS information. DataQuick Information Systems is a subsidiary of Vancouver-based MacDonald Dettwiler and Associates. (The top 10 lists are generated for incorporated cities with a minimum of 30 recorded sales in the month.)


Note: Large changes in local median home prices typically indicate both local home price appreciation, and often, large shifts in the composition of housing market activity. Some of the variations in median home prices for June may be exaggerated due to compositional changes in housing demand. The DataQuick tables listing median home prices in California cities and counties are accessible through C.A.R. Online at http://new.car.org/economics/historicalprices/2008medianprices/june2008medianprices/.


·       Statewide, the 10 cities with the highest median home prices in California during June 2008 were: Manhattan Beach, $1,942,500; Los Altos, $1,595,000; Burlingame, $1,575,000; Newport Beach, $1,325,000; Mill Valley, $1,150,000; Los Gatos, $1,143,000; Cupertino, $1,072,500; San Carlos, $1,022,500; Danville, $965,000; Santa Barbara, $950,000.


·       Statewide, the 10 cities with the greatest median home price increases in June 2008 compared with the same period a year ago were: Manhattan Beach, 49.4 percent; Cupertino, 33.3 percent; San Luis Obispo, 11.4 percent; Los Gatos, 3 percent; San Carlos, 1.5 percent; Sunnyvale, 1.4 percent; Ridgecrest, 1.4 percent; Campbell, 1.3 percent; Temple City, 0.9 percent; San Rafael, 0.8 percent.

Read More]]> The California Association of Realtors recently posted statewide sales for June.  As you can see in the accompanying articles sales are up and prices are down.  There are a significant number of distressed properties available and the bank owners need to get the off their books which they do by slashing the prices dramatically.  Unfortunately, this has a negative impact on neighboring properties. 


It is great news that buyers are making purchasing commitments where before they were sitting on the sidelines.  Once the bank owned properties are flushed out of our inventory, pricing will likely rise.  Those who purchase now will be extremely happy a few years from now. 


C.A.R. reports sales increased 17.5 percent; median home price fell 37.7 percent in June


LOS ANGELES (July 25) – Home sales increased 17.5 percent in June in California compared with the same period a year ago, while the median price of an existing home fell 37.7 percent, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported today.


“Statewide home sales remained above the 400,000 level for the second month in a row, and up nearly 18 percent from a year ago,” said C.A.R. President William E. Brown. “Following a 30-month string of year-to-year percentage decreases that began in October 2005, sales last month also posted their third consecutive year-to-year gain.


“Sales were driven in part by large shares of deeply discounted distressed sales in many parts of the state,” he said. “With lower prices and favorable interest rates, affordability also has improved significantly in recent months, paving the way for many buyers to purchase their first home.”


Closed escrow sales of existing, single-family detached homes in California totaled 420,550 in June at a seasonally adjusted annualized rate, according to information collected by C.A.R. from more than 90 local REALTOR® associations statewide. Statewide home resale activity increased 17.5 percent from the revised 357,890 sales pace recorded in June 2007.


The statewide sales figure represents what the total number of homes sold during 2008 would be if sales maintained the June pace throughout the year. It is adjusted to account for seasonal factors that typically influence home sales.


The median price of an existing, single-family detached home in California during June 2008 was $368,250, a 37.7 percent decrease from the revised $591,280 median for June 2007, C.A.R. reported. The June 2008 median price fell 4.3 percent compared with May’s $384,840 median price.


“The significant declines in the median price over the past several months are largely due to a dramatic shift in the sales mix since the onset of the credit crunch and the increase in the share of distressed sales,” said C.A.R. Chief Economist Leslie Appleton-Young. “A year ago, the under $500,000 price range accounted for 40 percent of sales, the middle segment made up about 45 percent, and the over $1 million segment captured 15 percent of the market. As of June 2008, the shares had shifted to 67 percent, 24 percent, and 9 percent, respectively.”


Highlights of C.A.R.’s resale housing figures for June 2008:


·       C.A.R.’s Unsold Inventory Index for existing, single-family detached homes in June 2008 was 7.7 months, compared with 10.2 months (revised) for the same period a year ago. The index indicates the number of months needed to deplete the supply of homes on the market at the current sales rate.


·       Thirty-year fixed-mortgage interest rates averaged 6.32 percent during June 2008, compared with 6.66 percent in June 2007, according to Freddie Mac. Adjustable-mortgage interest rates averaged 5.15 percent in June 2008, compared with 5.68 percent in June 2007.


·       The median number of days it took to sell a single-family home was 49.1 days in June 2008, compared with 51.5 days (revised) for the same period a year ago.


Regional MLS sales and price information are contained in the tables that accompany this press release. Regional sales data are not adjusted to account for seasonal factors that can influence home sales. The MLS median price and sales data for detached homes are generated from a survey of more than 90 associations of REALTORS® throughout the state. MLS median price and sales data for condominiums are based on a survey of more than 60 associations. The median price for both detached homes and condominiums represents closed escrow sales.


In a separate report covering more localized statistics generated by C.A.R. and DataQuick Information Systems, 2.9 percent, or 11 out of 385 cities and communities, showed an increase in their respective median home prices from a year ago. DataQuick statistics are based on county records data rather than MLS information. DataQuick Information Systems is a subsidiary of Vancouver-based MacDonald Dettwiler and Associates. (The top 10 lists are generated for incorporated cities with a minimum of 30 recorded sales in the month.)


Note: Large changes in local median home prices typically indicate both local home price appreciation, and often, large shifts in the composition of housing market activity. Some of the variations in median home prices for June may be exaggerated due to compositional changes in housing demand. The DataQuick tables listing median home prices in California cities and counties are accessible through C.A.R. Online at http://new.car.org/economics/historicalprices/2008medianprices/june2008medianprices/.


·       Statewide, the 10 cities with the highest median home prices in California during June 2008 were: Manhattan Beach, $1,942,500; Los Altos, $1,595,000; Burlingame, $1,575,000; Newport Beach, $1,325,000; Mill Valley, $1,150,000; Los Gatos, $1,143,000; Cupertino, $1,072,500; San Carlos, $1,022,500; Danville, $965,000; Santa Barbara, $950,000.


·       Statewide, the 10 cities with the greatest median home price increases in June 2008 compared with the same period a year ago were: Manhattan Beach, 49.4 percent; Cupertino, 33.3 percent; San Luis Obispo, 11.4 percent; Los Gatos, 3 percent; San Carlos, 1.5 percent; Sunnyvale, 1.4 percent; Ridgecrest, 1.4 percent; Campbell, 1.3 percent; Temple City, 0.9 percent; San Rafael, 0.8 percent.

Read More ]]> http://santabarbaraliving.com/ViewBlog/30/#comments http://santabarbaraliving.com/ViewBlog/28/ http://santabarbaraliving.com/ViewBlog/28/#comments Sat, 26 Jul 2008 14:31:28 +0000 Listings http://santabarbaraliving.com/ViewBlog/28/ This is an opportunity to visit this excellent Condo for sale in beautiful Upper East.
Please come with any questions you may have. In the meantime you can take a virtual tour of this Upper East Condo for sale.
As always please do not hesitate to give me a call at 805-563-9989 if I can answer any questions before the open house, or if you would like to book a private showing.
Joanne Schoenfeld
RE/MAX Santa Barbara Read More]]> This is an opportunity to visit this excellent Condo for sale in beautiful Upper East.
Please come with any questions you may have. In the meantime you can take a virtual tour of this Upper East Condo for sale.
As always please do not hesitate to give me a call at 805-563-9989 if I can answer any questions before the open house, or if you would like to book a private showing.
Joanne Schoenfeld
RE/MAX Santa Barbara Read More ]]> http://santabarbaraliving.com/ViewBlog/28/#comments http://santabarbaraliving.com/ViewBlog/26/ http://santabarbaraliving.com/ViewBlog/26/#comments Sat, 26 Jul 2008 14:15:50 +0000 Listings http://santabarbaraliving.com/ViewBlog/26/ I just finished uploading this Condo for sale, 2630 State Street, Unit 7, Santa Barbara, CA
Exceptionally spacious, two bedroom, two bath condo located near the best of Santa Barbara’s shopping, dining & cultural activities. This lower level unit features a large, private patio, huge walk-in closet, dual pane windows, crown molding, bee hive fireplace, updated kitchen & bath.
Association provides pool and spa, all water (including hot), trash pickup, exterior maintenance and landscaping, plus insurance.
Read More]]> I just finished uploading this Condo for sale, 2630 State Street, Unit 7, Santa Barbara, CA
Exceptionally spacious, two bedroom, two bath condo located near the best of Santa Barbara’s shopping, dining & cultural activities. This lower level unit features a large, private patio, huge walk-in closet, dual pane windows, crown molding, bee hive fireplace, updated kitchen & bath.
Association provides pool and spa, all water (including hot), trash pickup, exterior maintenance and landscaping, plus insurance.
Read More ]]> http://santabarbaraliving.com/ViewBlog/26/#comments