- All Montecito Sales 2009

- All Hope Ranch Sales 2009

- Real Estate Market Archives

- Informative Articles

- In the Spotlight

MONTECITO & HOPE RANCH SALES IN 2009:
A list of properties sold in both Hope Ranch & Montecito so far in 2009.

ARCHIVES:
Dan is consistently hailed as one of the foremost authorities on Santa Barbara Real Estate, and he lends this knowledge to both his clients and existing and potential residents of the area. Each year Dan tracks the housing markets of Santa Barbara (including activity in Montecito, Hope Ranch, and Goleta), and compares the data on a month-to-month, seasonal, and yearly basis. The result is sound pattern recognition of the area's housing trends, which Buyers and Sellers alike find invaluable when considering their real estate options. Look to Dan's Quarterly Real Estate Updates to better understand the dynamic Santa Barbara housing market by visiting our our "Archives" where we have catalogued his Updates since 1995.

ARTICLES:
To maintain his expertise on the current Real Estate market as a whole, Dan understands the need to pay close attention to both local and national press on the subject. Given the importance the housing market has in the overall economy there has been a lot of press coverage as of late. To view a selection of articles regarding the health of Real Estate in Santa Barbara and our nation, view our "Articles" page.

SPOTLIGHT:
For years Dan has been selected to write for the California Economic Project, and lends his expertise of Santa Barbara Real Estate to their "Economic Forecast" which summarizes the previous year and offers predictions for the flow of the market throughout the upcoming year. He is also commonly requested to provide comments and insight into our local market by the press. Please visit our "In The Spotlight" page to view articles and newscasts that feature Dan's recommendations for Buyers and Sellers in the Santa Barbara area.

Daniel Encell's
Quarterly Real Estate Update
3rd Quarter 2010

Despite challenging economic conditions, local real estate experienced many positive results in the second quarter of 2010. It appears that the worst is behind us, and that we are beginning a long road to recovery. Compared to the same time period last year, the total number of active listings along the South Coast remained virtually unchanged at 1716. Median prices increased 9% to $769,500 and average prices rose 13% to $1,229,131. The number of sales climbed 19% to 390, and overall sales volume grew by 35% to $479,360,912.

Montecito
Montecito posted some very impressive gains, as the availability and attractiveness of jumbo financing improved dramatically. Sales increased 27% to 42, and sales volume spiked 47% to $163,558,571. Median prices declined slightly to $2,225,000, while average prices jumped 15% to $3,894,251.

Birnam Wood
Inventory levels in Birnam Wood are down considerably compared to last year. There are currently five Birnam Wood properties available in the MLS, ranging in price from $2,395,000 to $3,749,000. There have been four closed sales in 2010, ranging in price from $1,525,000 to $3,000,000.

Looking Forward
The challenges for real estate continue to be:
        1. Unemployment – no meaningful recovery is possible without a dramatic reduction in both unemployment and underemployment – people need jobs to be able to afford to buy a home or keep their existing one;
        2. Foreclosures – there is still a tremendous number (millions) of potential foreclosures nationwide that have yet to hit the market;
        3. The Overall Economy – the stock market slid considerably during the 2nd quarter, and the Dow is currently around 10,000. The fate of real estate and the overall economy are intertwined- both need each other for a successful recovery.

P.S. Despite difficult market conditions, properties are still selling. If you would like to sell your property, call me at (805) 565-4896 to discuss the personalized marketing and advertising I can provide to get your property sold! All calls will be confidential.