- 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
1st Quarter 2011

Greetings and happy 2011! Although we are clearly not out of trouble, it appears that locally, the worst of our real estate woes are behind us. Along the south coast, 2010 saw 4% increases in both median and average prices to $734,000 and $1,140,000 respectively. Inventory levels remained relatively constant at 3,329 listings. The number of properties sold increased 7% to 1,357, and overall sales volume increased 10% to $1,546,840,000. On average, local listings sold for 90% of their last asking price.

Montecito
In Montecito, inventory levels remained constant at 563 active listings. Median and average prices were virtually unchanged at $2,075,000 and $3,185,000, respectively. However, the number of sales increased 14% to 160, and overall sales volume increased 15% to $509,893,721 (almost 1/3 of total sales volume along the entire south coast.)

Expectations for 2011
Concerns for the future include: the number of loan defaults, short sales and foreclosures; interest rate levels; availability of jumbo loans; the overall economy; and, most importantly, the unemployment rate. Local economists expect our area’s economic recovery to lag behind the rest of the nation, and the rest of California. Despite these concerns, real estate prices along the South Coast should remain relatively stable throughout 2011, and sales activity should show slight improvement.

Sincerely,

Daniel Encell
Director, Estates Division
Prudential Fine Homes
(805) 565-4896

P.S. Despite difficult market conditions, I had 27 closed sales for 2010 and sold more Montecito listings than any other agent. My listings sold, on average, for over 97% of their last asking price – many with multiple offers. If you would like to sell your property, call me at 565-4896 to discuss the personalized marketing and advertising I can provide to get your property sold! All calls will be confidential.