The Real Estate Scene
SANTA BARBARA REAL ESTATE MARKET TRENDS
This graph represents the number of homes sold for that month. In May, following the outbreak of the virus here in southern Santa Barbara County 85 homes were sold. In June 161 homes sold, and in July 190 sales. The market appears to be on an upswing which historically is normal for this time of the year.
WHAT’S GOING ON WITH INTEREST RATES?
$1.1 Million JUMBO Purchase (30 Year Fixed): Assumes: Loan Amount GREATER than $765,600 and less than $2,000,000; Credit Score above 780; Owner-Occupied; SFR; APR is 2.92%
*$1.1 Million JUMBO Purchase (7/1 ARM): Assumes: Loan Amount GREATER than $765,600 and less than $2,000,000; Credit Score above 780; Owner-Occupied; SFR; APR is 3.13%
*$800k CONVENTIONAL Purchase (30 Year Fixed): Assumes: Credit Score above 740; Owner-Occupied; SFR; APR is 2.56%
*$500k CONVENTIONAL Purchase (30 Year Fixed): Assumes: Credit Score above 740; Owner-Occupied; SFR; APR is 2.58%
*$450k FHA Purchase (30 Year Fixed): Assumes: UFMIP Financed; Credit Score above 680; Owner-Occupied; SFR; APR is 3.23%
*$450k VA Purchase (30 Year Fixed): Assumes: VA Funding Fee Financed; Credit Score above 680; Owner-Occupied; SFR; APR is 2.43%.
Source: JVMLending
In this post we will address some of the pros and cons of Rent Control…
Home prices in Santa Barbara continue to fluctuate, presenting a mixed picture for buyers and…
The recent changes to real estate commission rules, which took effect on August 17, 2024,…
The Santa Barbara real estate market trends for 2024 have been admirable. In the first…
Santa Barbara’s rich heritage comes alive during the first week in August with the music,…
Looking back at the last six months the south coast of Santa Barbara, spanning from…