125 Gray Avenue | Santa Barbara, CA 93101
2 BEDROOMS | 2 BATHS
OFFERED AT $1,799,000
Listing agent: David Kim
Listing Brokerage: Village Properties
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living in santa barbara ca
Each county offers places for spending the “golden years”! Southern California has long been a magnet for people who want to spend their retirement in a mild, pleasant climate. But climate isn’t the only factor that goes into deciding where to live out the “golden years.” Cost of living, taxes, access to healthcare, shopping, entertainment, recreation, and transportation are some other considerations for retirees before settling on their ideal community.
We looked at data for each of the five counties we serve, and came up with a recommended community for each, from south to north. Every retiree’s situation is different, of course, and there are plenty of cities to check out within the region. But you can’t go wrong with these SoCal favorites.
San Diego County
Encinitas
With more than 350 physicians, over 325 amenities for seniors, and an exceptionally low crime rate, this beachside city offers homes ranging from chic modern condos to expansive Mediterranean-style villas. Boating, fishing, and swimming at the beach are daily activities, along with golf at the Encinitas Ranch Golf Course. The San Diego Botanical Garden features rare bamboo groves, desert gardens, a tropical rainforest, California native plants, Mediterranean climate landscapes, and more. Annual events include the outdoor Encinitas Arts Festival, a wonderful venue for meeting new people, enjoying local talent, and sampling scrumptious cuisine.
Orange County
Mission Viejo
One of the largest master-planned developments in the U.S., Mission Viejo has won many “Safest City” awards thanks to its extremely low crime rate. The Irvine Company created a master plan that placed roads in the valleys and houses on the hills, contoured to the geography of the area. Houses and shopping centers in the city are almost all designed in a Spanish mission style, with adobe-like stucco walls and barrel-tile roofs. Many homes and condos are built around private Lake Mission Viejo, which offers boating, beaches, and fishing. An active public library and Saddleback College provide cultural opportunities. The Norman P. Murray Community and Senior Center caters to older residents. There are about two parks per square mile and three golf courses: Mission Viejo Country Club, Casta del Sol Golf Course, and Arroyo Trabuco Golf Club.
Los Angeles County
Pasadena
The City of Roses, just northeast of Los Angeles is most famous as the home of the Rose Bowl and the Tournament of Roses Parade. It is the cultural center of the region, with several colleges, including the California Institute of Technology, and many leading museums such as the Norton Simon and the nearby Huntington Library and Gardens. Getting around the downtown area, with its many shops, antique stores, and restaurants, is easy. The city has a high walk score of 67.7 from walkscore.com. The city has many interesting neighborhoods to live in including Bungalow Heaven, a neighborhood of 800 small Craftsman homes built from 1900 to 1930. The Gamble House, an American Craftsman masterpiece, was built in 1908 by architects Charles and Henry Greene, is open to the public as an architectural conservancy and museum.
Ventura County
Ventura
Last year, the U.S. Department of Agriculture named Ventura County the most desirable place to live in America. The reasons include mild, sunny winters, temperate summers, low humidity, topographic variety, and access to the ocean and lakes. The city of Ventura is the largest in the county, and is famed for its beaches, compact downtown with loads of antique shops, and great scenery, such as the sweeping 360-degrees from Serra Cross Park. The nearby Channel Islands are among the least-visited national parks, despite being one of the most stunning and ecologically diverse. The quiet city is just far enough from the attractions of Los Angeles to the south, and is a great jumping-off point to the scenic wonders to the north, such as Highway 1, Hearst Castle, and Carmel.
Santa Barbara County
Santa Barbara
Retirees like living in this coastal city because of its unusually beautiful setting and excellent climate. The downtown area is walkable and prosperous downtown, and the city’s strong economic base offers plenty of opportunities for work–paid or volunteer. Retired folks can live in a house or apartment near downtown, or an apartment or freestanding house farther out in a development. There also are many assisted living and continuing care facilities. Cultural life abounds, including the Santa Barbara Museum of Art, University Art Museum on the UC Santa Barbara Campus, Santa Barbara Museum of Natural History, Santa Barbara Maritime Fiesta; Santa Barbara Arts & Crafts Festival, Arlington Theatre, and Lobero Theater. Many musical groups and a symphony orchestra are on hand to entertain.
For more information visit Berkshire Hathaway HomeServices California Properties.
As the economy continues to improve, more and more Americans are seeing their personal financial situations also improving. Instead of just getting by, many are now beginning to save and find other ways to build their net worth. One way to dramatically increase their family wealth is through the acquisition of real estate.
For example, let’s assume a young couple purchases and closes on a $250,000 home in January. What will that home be worth five years down the road?
Pulsenomics surveys a nationwide panel of over one hundred economists, real estate experts and investment & market strategists every quarter. They ask them to project how residential prices will appreciate over the next five years. According to their latest survey, here is how much value that $250,000 house will gain in the coming years.
Over a five year period, that homeowner can build their home equity to over $40,000. And, in many cases, home equity is large portion of a family’s overall net worth.
Bottom Line
If you are looking to better your family’s long-term financial situation, buying your dream home might be a great option.
![Home Equity Increasing as Home Prices Rise [INFOGRAPHIC] | Keeping Current Matters](http://www.keepingcurrentmatters.com/wp-content/uploads/2015/12/Equity-Infographic-KCM1.jpg)
Some Highlights:
- 91.9% of homes in the US have positive equity
- 256,000 homes regained equity in the third quarter of 2015
- 37.5 million homes have significant equity (defined as more than 20%)
In a recent study conducted by Builder.com, researchers determined that nationwide it would take“nearly eight years” for a first-time buyer to save enough for a down payment on their dream home.
Depending on where you live, median rents, incomes and home prices all vary. By determining the percentage a renter spends on housing in each state and the amount needed for a 10% down payment, they were able to establish how long (in years) it would take for an average resident to save.
According to the study, residents in South Dakota are able to save for a down payment the quickest in just under 3.5 years. Below is a map created using the data for each state:
What if you only needed to save 3%?
What if you were able to take advantage of one of the Freddie Mac or Fannie Mae 3% down programs? Suddenly saving for a down payment no longer takes 5 or 10 years, but becomes attainable in under two years in many states as shown in the map below.
Bottom Line
Whether you have just started to save for a down payment, or have been for years, you may be closer to your dream home than you think! Meet with a local real estate professional who can help you evaluate your ability to buy today.
From traditional tile to trendy glass — and shiny metal to rustic wood — there is seemingly no end of choices for kitchen backsplashes today. “Tile is still the most popular backsplash material, with natural stone a fast-growing second,” says John Morgan, 2013 National President of the National Kitchen and Bath Association. “But with the right installer, you can make just about any material work.”
Kitchen backsplashes no longer simply protect walls from spills and splatters, a wide array of eye-catching materials like glass, wood, metals and stone make the backsplash the focal point of today’s kitchens.
In the monthly REALTORS® Confidence Index Survey, NAR asks REALTORS® “In the neighborhood or area where you make most of your sales, what are your expectations for residential property prices over the next year?” The map below shows the median expected price change in the next 12 months for each state, reported in the October 2015 REALTORS® Confidence Index Survey Report. REALTOR® respondents from Florida were the most upbeat, with a median expected price growth in the range of five to six percent. In Washington, Nevada, and Colorado, the median expected price growth among respondents was four to five percent.
Nationally, REALTORS® who responded to the October 2015 survey expected prices to increase by 3.2 percent over the next 12 months (3.2 percent in September 2015; 3.0 percent in October 2014). REALTORS® expect the recent strong price growth to moderate as rising prices have made homes “unaffordable” for many, with home prices almost at par with their levels prior to the housing downturn.
Colorful, luxurious and versatile, Boho chic style is perfect for spacious home interiors and small rooms. Boho chic ideas can help add luxury to small rooms, and create inviting and cozy home interiors in spacious living spaces. Here are some inspiring Boho chic ideas for modern interiors decorating and interior redesign in small spaces.
There has been much written about how dramatically home values have increased over the last several years. With the increase in values, comes an increase in the equity each home owning family now has. The Joint Center of Housing Studies at Harvard University recently reported that, after taking inflation into account, aggregate home equity has increased 60% since 2010. Home equity is the major component of most family’s overall wealth.
Why is this so important?
Throughout history, families have tapped into their homes for many important reasons. Perhaps it was to get seed capital to start a new business; perhaps to help finance their children’s college education; perhaps to get needed medical attention not covered by insurance.
Up to ten years ago, families were able to use the equity in their homes to better the living situation for themselves and their family. More small businesses were created. College students weren’t forced to take on massive student debt. People could get needed medical care.
This hasn’t been the case over the last ten years as families found themselves in a position of having zero equity or, even worse, negative equity post the housing collapse. However, that is about to change.
Using your home as an ATM is not a good idea.
We realize that there are inherent risks to tapping into the equity in your home especially if you do it for the wrong reasons. Back in 2005-2007, homeowners were using their homes as their own personal ATM machine to buy depreciating assets like cars, boats and jet skis. This reckless behavior should never be repeated.
However, using your equity (aka family wealth) to invest in yourself, your children or other family members that could use help still makes sense. And the good news is that more and more families can do this as home values continue to increase.
Bottom Line
Home equity gives families an additional financial option when money is needed. The proper use of this family wealth can be used to grow generational wealth.
As Julián Castro, U.S. Secretary of HUD, recently explained:
“Generation after generation, the primary vehicle to create wealth in our country has been through homeownership. In the U.S., homeownership has provided an opportunity for one generation to hand over to the next that opportunity and that wealth.”
The most recent Housing Pulse Survey released by the National Association of Realtors revealed that the two major reasons Americans prefer owning their own home instead of renting are:
- They want the opportunity to build equity.
- They want a stable and safe environment.
Building Equity
In a recent article, John Taylor, CEO of the National Community Reinvestment Coalition, explained that those who lack the opportunity to become homeowners have a weakened ability to reinvest their wealth:
“We traditionally have been huge supporters of homeownership. We see it as a way to provide stability for households but also as an asset-building strategy. If you continue to be a renter, locked out of the homeownership arena, increasingly those things are further and further out of reach. They’re joined at the hip. They perpetuate each other.”
Family Stability
Does owning your home really create a more stable environment for your family?
A survey of property managers conducted by rent.com last month disclosed two reasons tenants should feel less stable with their housing situation:
- 68% of property managers predict that rental rates will continue to rise in the next year by an average of 8%.
- 53% of property managers said that they were more likely to bring in a new tenant at a higher rate than negotiate and renew a lease with a current tenant they already know.
We can see from these survey results that renting will provide anything but a stable environment in the near future.
Bottom Line
Homeowners enjoy a more stable environment and at the same time are given the opportunity to build their family’s net worth.
Imagine coming home from a hard day at work, stepping into the bathroom, and feeling all of your worries fade away as you soak in the tub or stand under a warm stream from a waterfall showerhead. The right décor and design can make taking a bath or getting ready for your day in your bathroom feel like stepping into your very own, private day spa. Sounds pretty good, right?
Here are a few wonderful tricks for giving yourself a mini-vacation every time you step into your bathroom.
1. Choose a relaxing shade of paint.
Think about the shades of paint you see when you go to a day spa. They’re almost always neutral, unsaturated colors that help you feel relaxed. I prefer grays and rich browns for bathrooms, but a cool, cucumber green is also a nice choice. Whatever shade you choose, go with a washed-out, subtle version instead of a really bright and stimulating tone.
2. Decorate with scents.
Next, scent is a huge part of the relaxing experience when you go to the spa. A candle, some dried lavender in a sachet, or a few drops of your favorite essential oil mixed with Epsom salts in a warm bath can transport you to a completely different place in your mind every time you set foot in your bathroom.
3. Have soft lighting.
If you’re remodeling your bathroom, get rid of any harsh fluorescent lights and replace them with warmer, softer lights. You’ll still want to get enough light to do makeup and check your outfit when you get ready to go in the morning, so install brighter lights over the mirror. But make sure that they operate on a separate switch from your other lights so that you can maintain a soothing atmosphere when you shower or soak in the tub.
If you’re not remodeling or changing out light fixtures, you can get a similar effect by placing a few candles around your bathroom to give it a warm and calming atmosphere with all of the lights turned off. You can also experiment with different shades for your light fixtures to help cut the harshness of the light.
4. Upgrade your fixtures.
If your fixtures are a little bit out-of-date, you have a choice. You can upgrade them, which can mean going with a better showerhead (which I definitely recommend). Or, if you’re happy with how your fixtures work but they don’t quite look right, you can improve their looks with a little bit of spray paint. Choose a complementary textured paint to give your bathroom fixtures a whole new look and feel.
5. Coordinate your linens and toiletries.
If you really want to give yourself a home-spa experience, you’ll want to wrap yourself in luxury whenever you step out of the tub, and you’ll want to have a coherent and cohesive look to the room, too. Go ahead and invest in towels, washcloths, and a bath mat that are soft and fluffy and that match the color you’ve chosen for your walls. Upgrade your shower curtain to complement these and add a few matching or complementary toiletries.
You’ll have a room that looks, feels, and smells absolutely amazing every time you enter it.
![Buying A Home Can Be Scary... Until You Know the FACTS! [INFOGRAPHIC] | Keeping Current Matters](http://www.keepingcurrentmatters.com/wp-content/uploads/2015/10/Mythbusters-KCM.jpg)
Some Highlights:
- 36% of Americans think they need a 20% down payment to buy a home. 44% of Millennials who purchased a home this year have put down less than 10%.
- 71% of loan applications were approved last month
- The average credit score of approved loans was 723 in September (the lowest recorded score since Ellie Mae began tracking in August 2011).