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Proposition 19 Proposition 19 went into effect on April 1, 2021, protecting millions of older homeowners, homeowners with severe disabilities, and victims of wildfires or natural disasters. As older homeowners move to senior housing, retirement communities, condos, and smaller homes, more homeownership opportunities will open up in communities throughout California each year for renters, young families, and first-time homebuyers. Proposition 19 allows victims of wildfire or natural disasters to transfer the property tax base of their damaged house to a replacement home anywhere in California. Proposition 19 also frees up inventory by offering these considerations. Click Read More below for more information
RATES HAVE FALLEN ABOUT 1.5% SINCE MID-OCTOBER. That translates to about $100 a month in savings per $100,000 borrowed. The Housing Market is most definitely Not Frozen source: JVM Blog/ JVM Lending INVESTORS ARE STILL BUYING: Investors seem to see something much of the homebuying world does not. Agents report that they're dealing with investors of every type. The low inventory for Investment properties is fairly limited in Santa Barbara right now making good investment properties very desirable especially if they're priced right. RATES WILL CONTINUE TO FALL: Rates are expected to fall in the first half of 2023. If that happens we may also see more homes for sale. CoreLogic is predicting appreciation next year. (For More Information Click Read More Below)
Santa Barbara Real Estate The Santa Barbara housing market is very competitive. Homes in Santa Barbara receive 4 offers on average and sell in around 31 days. The median sale price of a home in Santa Barbara was $1.5M last month, down 17.0% since last year. The median sale price per square foot in Santa Barbara is $1.24K, up 5.3% since last year. Click Read More below for Charts, Graphs, and more Statistical Data
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3112 State Street, Santa Barbara, California 93105
Mark Lomas BRE 00898298
Kirsten Wolfe BRE 01309570