Broadcast December 28, 2017
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About Mark Danforth Lomas
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Buyers and sellers' sentiments remained virtually unchanged in August 2023 as housing market participants waited for more signals on what the Fed's next move will be. With the economy looking stronger than what was anticipated six months ago, interest rates will remain elevated. As costs of borrowing continue to rise consumers might be tapped out. It's possible that the economy will show signs of slowing later this year, and if that happens, the Central Bank will have no choice but to cut rates starting the first quarter of 2024. Mortgage rates might begin declining in the fourth quarter of this year and possibly improve next year. The decline is expected, and if that occurs, will most likely be gradual. Click Read More below for some very insightful videos into the current real estate housing market.
The colorful and always-changing Funk Zone in Santa Barbara is a unique neighborhood found between Highway 101 and the Beach off lower State Street. The Funk Zone proudly reflects its roots in art and industry with an eclectic mix of artisan shops, art galleries, studios, eateries, wine-tasting rooms, and microbreweries – some of which have popped up in the area’s converted warehouses and packing plants, all just steps from the beach! Tourists and locals love to explore the Funk Zone’s artsy soul through the Arts Fund Community Gallery’s monthly exhibitions. From the Zone’s gourmet grab-and-go breakfast and lunch spots to its urban sit-down restaurants, the Zone shines a spotlight on locally sourced ingredients and plentiful outdoor patios. The Lark housed in a creatively repurposed historic fish market serves up tasty shareable plates. Next door, the Lucky Penny offers wood-fired pizzas, freshly baked pastries, sandwiches, and salads. Lastly, check out the Santa Barbara Urban Wine Trail. Taste wines from each of Santa Barbara County’s five AVAs at the Valley Project while ogling the stunning floor-to-ceiling map of the region. Click "Read More" below for Funk Zone in Santa Barbara, California YouTube Video
Despite low inventory, we continue to see more homes going into contract and closing escrow than this time last year. Low supply and high demand is driving prices up. Buyers are relocating here from more urban environments while capitalizing on low interest rates.
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MARK LOMAS & KIRSTEN WOLFE
805.845.2888
HomesOfSantaBarbara@gmail.com
About Us
"Practicing the Fine Art of Real Estate"
It's who we are and what we do. We have over 30 years of experience facilitating the acquisition and sale of fine homes. Together with Sun Coast Real Estate Services, Santa Barbara’s leading residential brokerage firm, we can provide you with the best real estate services available. Experience you can count on!
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3112 State Street, Santa Barbara, California 93105
Mark Lomas BRE 00898298
Kirsten Wolfe BRE 01309570