CORT REPORT ~ DECEMBER 2008

     

South Santa Barbara County
Month Number of Sales Average Sales
Price
Median Sales
Price
Number of Sales over $1
Million
December 2008 106 1,428,384$ 757,500$ 41
December 2007 93 1,263,522$ 800,000$ 34
December 2006 143 1,473,486$ 940,000$ 63
December 2005 156 1,526,282$ 980,000$ 76
December 2004 197 1,252,142$ 859,000$ 66
December 2003 201 1,031,696$ 749,000$ 67

     

Santa Barbara
Month Number of Sales Average Sales
Price
Median Sales
Price
December 2008 52 976,019$ 812,500$
December 2007 49 1,196,939$ 825,000$
December 2006 66 1,342,962$ 954,750$
December 2005 78 1,381,076$ 1,100,000$
December 2004 94 1,003,042$ 792,000$
December 2003 89 1,076,179$ 825,000$

     

Goleta
Month Number of Sales Average Sales
Price
Median Sales
Price
December 2008 17 525,588$ 645,000$
December 2007 35 1,124,800$ 759,000$
December 2006 30 736,567$ 722,000$
December 2005 41 1,161,280$ 889,000$
December 2004 49 809,867$ 815,000$
December 2003 53 718,122$ 592,500$

     

Carpinteria
Month Number of Sales Average Sales
Price
Median Sales
Price
December 2008 19 1,265,323$ 550,000$
December 2007 1 505,000$ 505,000$
December 2006 8 1,473,750$ 910,000$
December 2005 14 961,214$ 674,500$
December 2004 22 1,555,818$ 580,000$
December 2003 22 592,175$ 572,000$

     

Montecito
Month Number of Sales Average Sales
Price
Median Sales
Price
December 2008 13 4,216,923$ 3,200,000$
December 2007 7 2,584,214$ 2,445,000$
December 2006 26 2,473,173$ 1,975,000$
December 2005 13 2,210,192$ 1,850,000$
December 2004 18 2,897,166$ 2,515,000$
December 2003 30 1,799,839$ 1,550,000$

     

PLEASE REQUEST EQUITY TITLE FOR ALL YOUR REAL ESTATE TRANSACTIONS
Information provided by CORT, deemed reliable but not guaranteed

     


CORT REPORT ~ DECEMBER 2008

     

Isla Vista
Month Number of Sales Average Sales
Price
Median Sales
Price
December 2008 2 1,395,000$ 1,395,000$
December 2007 0
December 2006 6 908,417$ 419,000$
December 2005 0
December 2004 2 1,275,000$ 1,275,000$
December 2003 1 967,500$ 967,500$

     

Hope Ranch
Month Number of Sales Average Sales
Price
Median Sales
PriceDecember 2008 2 4,547,272$ 4,547,272$
December 2007 0
December 2006 2 3,655,000$ 3,655,000$
December 2005 4 8,234,125$ 3,723,250$
December 2004
December 2003

     

Summerland
Month Number of Sales Average Sales
Price
Median Sales
Price
December 2008 0
December 2007 1 895,000$ 895,000$
December 2006 3 3,216,667$ 1,350,000$
December 2005 5 1,145,500$ 970,000$
December 2004 10 1,991,300$ 1,597,500$
December 2003 6 923,333$ 885,000$

     

Unincorporated Area
Month Number of Sales Average Sales
Price
Median Sales
Price
December 2008 1 975,000$ 975,000$
December 2007 0
December 2006 2 736,500$ 736,500$
December 2005 1 1,550,000$ 1,550,000$
December 2004 2 1,931,250$ 1,931,250$
December 2003 0

     

PLEASE REQUEST EQUITY TITLE FOR ALL YOUR REAL ESTATE TRANSACTIONS
Information provided by CORT, deemed reliable but not guaranteed

     


CORT REPORT - 2008

     

South Santa Barbara County
Year Number of Sales Average Sales
Price
Median Sales
Price Number of Sales over $1 Million
2008 1358 1,544,793$ 865,000$ 575
2007 1662 1,806,726$ 1,049,000$ 871
2006 1722 1,657,630$ 1,000,000$ 874
2005 2296 1,608,899$ 1,005,000$ 1175
2004 2508 1,318,349$ 885,000$ 950
2003 2370 1,023,599$ 715,000$ 661

     

Santa Barbara
Year Number of Sales Average Sales
Price
Median Sales
Price
2008 622 1,103,921$ 860,000$
2007 837 1,360,437$ 1,015,000$
2006 841 1,278,243$ 1,020,000$
2005 1144 1,298,798$ 1,020,000$
2004 1232 1,155,817$ 900,000$
2003 1177 961,339$ 745,000$

     

Goleta
Year Number of Sales Average Sales
Price
Median Sales
Price
2008 348 951,063$ 674,500$
2007 347 1,037,621$ 825,000$
2006 412 1,059,762$ 856,250$
2005 537 1,269,884$ 880,000$
2004 624 907,474$ 799,000$
2003 601 699,798$ 630,000$

     

Carpinteria
Year Number of Sales Average Sales
Price
Median Sales
Price
2008 114 1,453,978$ 642,500$
2007 122 1,310,108$ 756,000$
2006 110 1,340,259$ 870,000$
2005 179 1,357,924$ 850,000$
2004 225 1,231,186$ 685,000$
2003 209 773,853$ 565,000$

     

Montecito
Year Number of Sales Average Sales
Price
Median Sales
Price
2008 203 3,496,402$ 2,675,000$
2007 243 3,835,891$ 2,650,000$
2006 240 3,247,103$ 2,400,000$
2005 285 2,981,493$ 2,224,000$
2004 305 2,725,971$ 2,075,000$
2003 286 2,073,103$ 1,622,500$

     


CORT REPORT - 2008

     

Isla Vista
Year Number of Sales Average Sales
Price
Median Sales
Price
2008 18 1,174,750$ 1,010,000$
2007 21 2,325,331$ 1,165,000$
2006 31 4,629,431$ 1,462,500$
2005 30 2,674,950$ 1,185,000$
2004 23 1,865,239$ 799,000$
2003 11 778,772$ 702,000$

     

Hope Ranch
Year Number of Sales Average Sales
Price
Median Sales
Price
2008 22 3,361,093$ 3,047,273$
2007 36 4,328,202$ 3,047,000$
2006 20 3,317,750$ 3,125,000$
2005 34 5,154,588$ 2,850,000$
2004
2003

     

Summerland
Year Number of Sales Average Sales
Price
Median Sales
Price
2008 26 3,811,654$ 1,752,500$
2007 46 4,156,870$ 1,863,250$
2006 53 3,530,745$ 1,460,000$
2005 65 2,195,192$ 1,400,000$
2004 73 1,738,287$ 1,060,000$
2003 68 1,311,192$ 914,500$

     

Unincorporated Area
Year Number of Sales Average Sales
Price
Median Sales
Price
2008 5 2,101,000$ 1,550,000$
2007 10 1,622,100$ 1,550,000$
2006 15 1,272,300$ 1,195,000$
2005 22 1,604,227$ 1,525,000$
2004 26 1,459,826$ 945,000$
2003 18 1,193,500$ 1,132,500$

     



...from Yahoo Real Estate:

     

Housing: Best time to buy in four years

Valuations—the difference between a home’s actual price and what it should cost—are the lowest they’ve been in four years.

MAKING SENSE OF THE STORY FOR CONSUMERS

• More than 88 percent of 330 housing markets surveyed showed price declines and improved affordability during the last three months of 2007, according to bank National City Corp. and financial analysis firm Global Insight.
• The survey covered home valuations during the last quarter of 2007, but there's reason to believe that valuations are even more favorable for buyers today, according to the authors of the report.
• The biggest gains in affordability occurred in California, Michigan and Florida, which are areas that also have been some of the hardest hit by foreclosures. Those states registered 43 of the 50 biggest price declines.

To read the full story, please click here.

Increase home's value
     
      1. An updated kitchen
      2. Modern bathrooms
      3. A well-appointed master suite
      4. Natural materials
      5. Curb appeal
      6. A light, airy spacious feel
      7. Good windows
      8. Landscaping
      9. Lots of storage
      10. Basement
     
      ** from Yahoo **

     
      Here is a simple graph that illustrates recent sales compared to the last 2 years. Compliments to United General Title Insurance Company, http://www.ugtHT.com
     
     

It's summer in California once again and that means beaches and sand... Finding that special home close to the action can be difficult... especially if you want new construction.... something not readily available in the Santa Barbara area... it can literally take years to obtain design and permit approval, not to mention the course of construction... plan on a minimum of 2.5 years for a low key, out of the way, trouble free (HA!) project... anything that is high profile or encompasses hillside or Coastal Commission and you might double that time!
     
      Discouraged??? Don't be... here is one that is all ready for you!!!
     
     
      http://www.santabarbara-realestatetours.com/SL

If you have never heard of Zillow.com, it is because you don't already own real estate, don't do online research or... the value of your property is just not important to you at this time...
     
      For those of you that don't know what Zillow is all about... it is a web site that will generate a dollar value for your property in about 10 seconds... all you need to do is plug in an address and a zip code and wham, bam thank ya ma'am.... here is a value! Is it accurate? Well...maybe!!
     
      I have done some comparisons of properties with recent sales and did find on many occasions that the value was wildly optimistic... in fewer cases it was right on but all in all... you can use it for another information input!
     
      The system doesn't take into account recent improvements, but it is a starting point... any Realtor you should choose to employ would likely have a look at this site... if they don't perhaps they are not web savvy and that should tell you something!
     
      If you would like to give it a try... follow this link:
     
     
      http://www.zillow.com

One of the best things to do is attend a concert at the Santa Barbara Bowl. Built in 1936, the Bowl has become a home for the performing arts in Santa Barbara. As the largest outdoor amphitheater in Santa Barbara County, capacity 4,562 the Bowl retains its intimate ambiance while offering the freedom of a beautiful and natural outdoor venue.
     
      Interested in what is up and coming?
     
      Here is the link to the Bowl:
     
      http://www.sbbowl.com/
     
     

Climate Details Santa Barbara
     
     
      Average January High Temperature 64.50ºF
     
      Average January Low Temperature 44.70ºF
     
      Average July High Temperature 75.10ºF
     
      Average July Low Temperature 58.60ºF
     
      Annual Precipitation 18.58
     
      Air Pollution Index View 97 100 Nat'l Average
     
      What's the weather like right now???
     
      Click here: http://weather.yahoo.com/forecast/USCA1017_f.html

Aside from hiking.... plentiful beaches...shopping...eating and just hanging out.... we have a plethora of events..some cultural...some educational... some just plain fun! Here is a link to the Santa Barbara Independent Events page! This paper has risen to new height in local coverage and you can always pick up a copy at many locations around Santa Barbara... it's what the locals read!
     
     
      http://www.independent.com/events/2007/

March was a turning point in the real estate market springing back!
     
      92 homes closed in March compared to 73 in December 2006 and 91 homes went pending compared to only 52 in December! Big increase in sales and pendings!
     
      Also, sellers are getting 96.37% of their asking price (usually after a realistic price reduction!) Still almost a 10% cancellation rate for escrows. Buyers, make sure you are pre-qualified!
     
      Best Wishes as our Spring market blossoms!