Take a list of things to avoid before you close on your new house.By Tara-Nicholle Nelson
Don't Close Any Accounts
Don't Make Any New Bills
Don't Buy a Car
Don't Pay Bills Late
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Rental market remains very tight, according to report by UCSB Economic Forecast ProjectBy Noozhawk, Tom Bolton
Santa Barbara County’s economy is doing fairly well in 2016. Employment is strong, the housing market has stabilized and wages are up.
That was the assessment offered Thursday during the annual Economic Summit presented by the UCSB Economic Forecast Project.
Several hundred people turned out at the Granada Theatre in downtown Santa Barbara for the morning-long program, which focused primarily on national and macro-economic trends.
But the annual report issued to coincide with the event included a trove of economic information about Santa Barbara County’s economy.
Of note was an increase in overall employment in the county in 2015 of 5,558 jobs, a gain of 2.8 percent and the largest rise since 2012.
The county’s unemployment rate declined to 5.1 percent, and statistical forecasts suggest it will drop further — to 4.9 percent by the end of the year.
The city of Goleta had the county’s lowest unemployment rate at 2.9 percent, while Lompoc had the highest, at 6.6 percent.
Other unemployment rates included Buellton, 3.2 percent; Santa Barbara, 4.0 percent; Carpinteria, 4.4 percent; Guadalupe, 4.8 percent; Santa Maria, 6.1 percent; and Solvang, 6.2 percent.
On the real estate front, the median home price for the county increased 17.5 percent from the previous year, to $676,494.
That growth rate was considerably larger than for the state (5.7 percent).
As prices rose, affordability fell in the county.
Only 23 percent of Santa Barbara County residents were able to afford the median-priced house, compared with 30 percent of residents statewide, and 58 percent nationally.
The surge in the housing market has made an already-tight rental-housing market that much more difficult, what the report’s authors called “not for the faint of heart.”
A vacancy rate of less than 1 percent contributed to an 8.7-percent spike in rents in 2015.
The report’s authors gave this assessment:
“As the prospect of owning a home becomes a fantasy, many local residents will remain renters indefinitely…Additional demand for high-quality rental housing is being generated by empty-nest Baby Boomers seek to simplify their lives by trading in the family home for a luxury apartment in a fun urban setting.”
Peter Rupert, executive director of the Forecast Project, discussed the ramifications of what he called income “unequality,” as opposed to inequality.
The county’s per-capita income gained 1.3 percent to $45,795 in 2014, the latest year for which figures are available.
The gains, he pointed out, were experienced more strongly by higher earners than those at the lower end of the economic scale.
Perhaps not surprisingly, northern Santa Barbara County has more people in the lower-income brackets, while the South Coast has more in the upper brackets.
This is due, in part, to the fact that the North County has vastly more agricultural workers, while the South Coast leads in governmental, professional and business services employees.
Thursday’s keynote speaker was James Bullard, president of the Federal Reserve Bank of St. Louis, who discussed U.S. monetary policy.
“U.S. labor markets are at or possibly well beyond reasonable conceptions of full employment,” he said.
He also noted that interest rates have remained low for the last several years, and global concerns — including the strong U.S. dollar — seem to be waning.
Inflation rates have remained below the target set by the Fed, he said, adding that “a gradual pace of rate increases over the next several years” is likely.
Read the full article at Noozhawk by .
Locally known, nationally recognized, globally respected. With California home prices remaining strong, and our state the No. 1 market of interest for residents of China seeking a home overseas, this is a great time for experienced and aspiring agents to affiliate with Berkshire Hathaway HomeServices California Properties.
By joining Berkshire Hathaway HomeServices California Properties, you not only have access to our world-class programs, support, and real estate services, but you also have the backing of the locally known, nationally recognized, and globally respected Berkshire Hathaway HomeServices name.
Our brokerage offers many reasons to join branches throughout Southern California. We’ve rounded up several of them here. If you’re interested, contact any of our office managers, or call 858.995.7575. We’re looking forward to meeting you.
A leading company
Berkshire Hathaway HomeServices California Properties is one of the top five brokerages among all Berkshire Hathaway HomeServices brokerages nationwide.
Results-oriented
Nearly $12.5 billion in sales volume last year with more than 14,000 transactions.
Always growing
We proudly support nearly 3,000 sales associates in more than 60 offices spanning the Central Coast to San Diego.
We select smart, experienced people
We offer in-depth training and access to the latest technologies and information to help you succeed. We promote a highly trained, technologically sophisticated and diverse sales force.
Commitment to integrity
We recruit associates and management talent committed to performance with integrity.
Networking abroad
We maintain relationships with an elite collection of international real estate networks, including:
- Proxio–An association that empowers you to easily market your listings worldwide, in 19 languages and 30 currencies, while connecting you with over 500,000 agents in more than 100 countries at no cost.
- Who’s Who in Luxury Real Estate–An exclusive network of brokers who list and sell in the top 10.
- Juwai.com–the No.1 Chinese international property portal, with over 2.6 million Chinese visits each month.
Mobile app
It’s easy for clients to search for properties and quickly connect with you through a personally branded mobile app.
Social presence
Find us on relevant social platforms like Facebook, Instagram, and Twitter where we share real estate content, company news, and even your listings.
E-newsletter
You and your clients will receive industry news, hot new listings, and more when you sign up for our biweekly newsletter.
Free downloads
Our exclusive agent portal provides you with customizable farming fliers, property fliers, open-house materials, and more for on-demand printing.
Photography and video
Professional production services are offered to our agents at special rates.
Print marketing
Discounted programs that provide the ultimate print exposure for you and your listings.
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A variety of exquisite presentation materials, recently redesigned and polished, are available to help you impress the most discerning clients.
Click here to read more about Berkshire Hathaway HomeServices.
Make your home stand out with a few easy improvements. With the high inventory of homes on the market today, homebuyers can afford to be choosy. Buyers are looking for the best, so a home for sale can easily slip through the cracks if it's not in pristine condition. Use these 10 tips to whip your home into shape and wow potential buyers.
Improve your landscaping. Curb appeal is crucial to a good first impression, so make sure your home's lawn is immaculate. Mow the lawn, prune the bushes, weed the garden and plant flowers.
Clean the outside. A sloppy exterior will make buyers think you've slacked off on interior maintenance as well. Be sure to clean the gutters and pressure wash your home's siding.
Make repairs. In a buyer's market, you want your home to be in the best condition possible. Take care of major defects like broken windows or a leaky roof that could discourage buyers.
Make the front door inviting. A fresh coat of paint, especially in a color that contrasts with the home, will make the front door stand out. Replace faded house numbers so buyers can see them from the curb.
Buy a new welcome mat. Let buyers know they're invited into your home.
Remove clutter and depersonalize. Buyers want to envision their belongings in your home. Clean up by renting a storage unit for knickknacks, photos, extra furniture and other personal items.
Organize closets and drawers. Messy closets give the appearance that your home doesn't have enough storage space.
Make every surface shine. From ceiling fans to floors and everything in between, clean your home until it sparkles.
Take color down a notch. You might like your lime-green bedroom, but it may sour buyers. Paint your walls a neutral color that will appeal to a wide range of buyers.
Eliminate bad odors. Hide the litter box and spray air neutralizer throughout your home. When showing the home, fill it with inviting smells by putting out fresh flowers and baking a batch of cookies.
Click here to read the article.
Take a look at this new-on-the-market single-family home in idyllic Fernald Cove, perfect as a home-away-from-home or a full-time residence! Formerly owned by John Cleese, this modern beachfront property offers privacy and sophistication. Listed at $8,250,000, the 3BD/3.5BA home also has a separate guest apartment, perfect for hosting weekend guests. Features include recently renovated kitchen and bathrooms, private deck, extensive wine cellar, and stunning 180 degree ocean views. Check out the photos below!
Listed by Sotheby's International Realty.
New on the market! Fantastic opportunity to own 2 Craftsman homes on 1 lot just a few blocks to State Street! Built in 1915, each home has 1 bedroom & 1 bathroom, but are functional as 2 bedrooms. Featuring remodeled kitchens and bathrooms, 9ft. ceilings, beautiful Fir floors and on-site laundry. Strong rents and solid tenants. A+ location!
Offered at $1,150,000
Check out the photos below or go to http://www.jakeralston.com/listing/just-listed-125-129-w-pedregosa/ for more details.
Experience coastal California living in this beachfront home with views of the gleaming Pacific Ocean! Listed at $14,444,000, this exquisite oceanfront property is located on Montecito's coveted Edgecliff Lane. Spread along 130 feet of beachfront, the .65 acre property features a charming 1BD/1.5BA cottage and a private guest apartment, perfect for visiting guests or as a home studio. Stroll through the picturesque terraced gardens or sunbathe by the pool underneath towering palms that look out over the water. Offering privacy and seclusion, Edgecliff Lane is close to Montecito's Lower Village, the Four Seasons Biltmore Hotel, and beautiful Butterfly Beach. Scroll through the photos below for a look at this charming beachfront property!
Listed by Riskin Partners
Real estate research firm, The Swanepoel T3 Group, released their Swanepoel Power 200 last week, an annual ranking of the 200 most powerful people in real estate. The report focuses on "CEOs and other C-level executives that hold a senior position with a national franchise, referral network, or other collective group." Ron Peltier, Chairman and CEO of HomeServices of America, Inc., made it to the top of the rankings this year, coming in as number two of Swanepoel's Top Corporate Executives in Real Estate.
Peltier was first appointed Chairman in 2008, after 30 years in the real estate industry. Peltier has long been recognized as an innovator by the real estate industry, ranking consistently on Inman's Top 100 list and REALTOR Magazine's Top 25 Most Influential People in Real Estate. Under Peltier's leadership, HomeServices of America has grown steadily each year. According to The Swanepoel T3 Group, HomeServices has 70,000 Agents and generates a whopping 550,000 transactions per year. In 2015 alone, HomeServices added multiple companies, "the largest of which was First Weber in Wisconsin, with...$2.5 billion in sales in 2014."
Peltier's ranking on The Swanepoel Power 200 confirms Berkshire Hathaway is off to a great start in 2016!
See the full list of 200 executives here.
Last week RealtyTrac released its 2015 Year-End US Foreclosure Market Report, which shows annual foreclosure filings (default notices, scheduled auctions, and bank repossessions). According to the data, foreclosures are down 3 percent from 2014 and at a nine-year-low on a national level, and California's doing even better. In 2015, California saw 92,671 homes get foreclosed upon, or 0.68 percent. That adds up to a 14.66 percent decrease from 2014, and an incredible 83.05 percent decrease from the 2010 peak. RealtyTrac Vice President Daren Blomquist said that 2015 "saw a return to normal, healthy foreclosure activity in many markets."
Nationally, foreclosures were down 3 percent from 2014 and 62 percent from 2010. The report also found that during 2015, homes were in the foreclosure process for a shorter period of time.
Check out the graphic below to see the counties in California that had the highest and lowest percentage of foreclosures in 2015.
Charming Family Home w/ 1bd Guest House!
4bd/4ba country home with in-laws apartment on a gated & fenced .46 acre
236 Toro Canyon Road | Carpinteria, CA
Offered at $2,195,000
MLS# 15-1375
Build Your Dream Home in Hope Ranch!
2.35 acre ocean-view parcel in exclusive Hope Ranch neighborhood
Via Esperanza | Hope Ranch, Santa Barbara
Offered at $2,000,000
MLS# 15-3777
Award-Winning Luxury Condo in the Heart of Downtown!
1bd/2ba + loft 1 mile from the beach & walking distance to local restaurants, shops & nightlife
121 W. De La Guerra #7 | Santa Barbara, CA
Offered at $1,450,000
MLS# 15-905
Available - Not in MLS!
3bd/3ba beachfront condo with panoramic ocean views, 2 blocks to downtown Ventura
Address & Price Available Upon Request
Ventura, CA
Available - Not in MLS!
Beach bungalow with separate 1bd/1ba apartment, 2 blocks to the beach
Address Available Upon Request
Carpinteria, CA
Offered at $3,000,000
Exclusive - Oceanfront Land on Oregon Coast!
4.52 acre building site along the Pacific Coast in scenic Oregon
Florence, OR
Offered at $1,990,000
Exclusive - Riverfront Oregon Vineyard & Event Center!
27+ acre property features a 19 acre vineyard, large event center, & tasting room
Myrtle Creek, OR
Offered at $1,900,000
What a great year of sales! We are pleased to announce our final sale of 2015, which closed on December 31st! This charming Goleta home features 4 bedrooms, 2 bathrooms, vaulted ceilings, fireplace and a sparkling swimming pool. Located close to the beach and UCSB in the desirable Santa Barbara Shores neighborhood. A great buy for the lucky new owners!
Sold for $780,000
Many factors can affect a home's sale price, some of which are out of your or your agent's control (think your neighborhood's location or nearby competitors). One thing that makes a substantial difference and is in your control, however, is cleanliness! When examining a home, potential buyers look for clean, light areas that make a home look warm and inviting. Properly cleaning your home before an open house or before a buyer checks it out can affect your sale price substantially. Whether you're cleaning your property yourself or hiring outside help, make sure you do it right. Take a look at this visual checklist before getting down and dirty for advice from industry pros and tips on cleaning each area of your house.
