You ask, what’s new for 2008? I see the green building trend hitting the mainstream! I recently came across the SmartMarket Report on residential green building published by McGraw-Hill, it takes a solid look at the residential green building marketplace and I thought I would share the highlights. Indicators show that residential green building will escalate in the next year at a significant rate. What is considered a green home today, the report notes will be the industry standard tomorrow! A growth of 30% over 2006 numbers is expected. More than two-thirds of builders will be building green homes. Beyond 2007, the sheer number of participants in the green home building market will pull the rest of the market up to green standards just to stay competitive.

I definitely feel the market for green homes will be on the rise locally. Look for some exciting new local activities in 2008 that will raise awareness such as Green Home Tour, Green Expo and Conference and don’t miss the “Join the Green Revolution” community education classes which I will be involved in again. If I can help answer any green home questions please feel free to give me a call.

Check out my website www.GreenHomesSB.com for Green Homes for sale in the Santa Barbara area and the latest news and resources that are updated often!

First, what is a Realtor? A Realtor is someone who has gone the extra mile to follow a strict code of ethics for your benefit. Realtors belong to the Association of Realtors as well as the MLS (Multiple Listing Service) while an agent belongs only to the MLS and does not submit to any controls set up by a code of ethics & grievance process.

Are you interested in their track record for selling property? This consists of asking how many transactions they were involved in last year and will directly affect their negotiating ability on your behalf. We all have the same license but different agents get different results and the bottom line is more cash in your pocket at the time of sale.

If you are like most people your home is one of your most valuable possessions and can represent the majority of your assets. Isn’t it like going to the doctor and being a proactive patient, how many operations have you done like this one in the past 12 months Doctor? You owe it to your self to know who your Realtor is professionally speaking.

In today’s Buyers Market – overflowing with 11 months of home inventory - you cannot afford to list your property with an agent who isn’t willing or able to invest the time and money necessary to make your home stand out above the rest. You need a competitive edge, and an agent that can provide it through an aggressive marketing campaign.

Here are 10 simple questions that will help you pick the right agent for the job: (more…)

“THE BEST WAY TO APPRECIATE YOUR JOB IS TO IMAGINE YOURSELF WITHOUT ONE.” Oscar Wilde And unfortunately, last Friday’s Jobs Report indicated that many more Americans than expected are not just imagining themselves without a job, they truly are without a job.

The Unemployment Rate jumped up to 5.0% from 4.7%, and new job growth in December was reported at a paltry 18,000 jobs…with private-sector job growth actually falling by 13,000, the largest private sector drop in more than four years. And here’s an interesting note - Hourly Earnings actually moved higher than expected. While this seems somewhat contradictory to a slowing jobs number, perhaps it means that employers are attempting to save money by paying more dollars to fewer workers, rather than hiring more staff.

(more…)

What’s the weather like? A good question, but it also depends on where you are at the time. In the past week, we have seen flooding in the Northwest, blizzards on the East Coast, a drought in Georgia and a portion of the South, hot weather in the Southwest and mixed weather right here in Santa Barbara. The real estate market is just like the weather. It depends on where you are, but listening to the news media, it seems as though real estate is on its last leg. I am convinced that instead of reporting the news, the news media creates the news and shapes what we are supposed to think. The perception out there is that the entire housing market is crumbling, but that is simply not true. Real estate is local and what is happening in the Santa Barbara and surrounding areas is completely different than in many areas of California.

When I hear about the real estate market, I think of real estate from Carpinteria to Santa Barbara to the Santa Ynez Valley, as this is where my expertise is. And yes, the market may be slower than we would like it to be, but as of this date, more homes and condos have sold in 2007 than in 2006. When you compare it to so many other places in California or other areas of the United States, we are doing okay. In fact, in both Montecito and Hope Ranch, property values have increased at least 10% since last year. Santa Barbara is an incredible place to live with our climate, location, schools, and cultural activities, and these are reasons why people seek this lifestyle.

(more…)

Dr. Lawrence Yun, Chief Economist for the National Association of Realtors recently said that “Commenting on the National Housing Market is like discussing the National Temperature…like the weather, all real estate is local.” This couldn’t be truer than in Santa Barbara where both our climate and real estate market are different than most parts of the country.

The news media paints a very bleak picture of the housing market with headlines talking about slumping sales, decreasing values, and a rampant escalation of foreclosures. However, it is important to consider the source of these headlines. The majority of television news media is targeted to a national audience and therefore is summarizing countrywide housing trends. Even local newspapers are primarily printing articles from wire services which again tout national statistics. Other media sources focus on California, but don’t generally provide relevance to the Santa Barbara real estate market which is behaving very differently than most other communities across the state. Sometimes you will hear or read reports about Santa Barbara County which can still be misleading because they include statistics that lump together Southern Santa Barbara County (Carpinteria through Goleta) with North County (Lompoc and Santa Maria). Even these two neighboring communities are currently experiencing very different real estate markets.

Here’s my take on the recent headlines as to how they apply to the Southern Santa Barbara County real estate market:

(more…)

“YOUTH IS WHEN YOU’RE ALLOWED TO STAY UP LATE ON NEW YEAR’S EVE. MIDDLE AGE IS WHEN YOU’RE FORCED TO.” Bill Vaughn And battle weary Traders may be looking to hang it up early for the night, after enduring days and weeks on end of extreme market volatility. And last week was no exception, as the assassination of former Pakistani Prime Minister and current opposition leader Benazir Bhutto brought on even more volatile moves in the markets.

(more…)

A great deal of media attention has been given to the sub prime loan market and rising foreclosures as a result of lenders making loans to marginal borrowers. Interestingly, only 9% of existing loans would be characterized as sub prime and many of those borrowers are not headed to foreclosure.

The areas currently hardest hit as a result of the sub prime loan fall out and resulting foreclosures are those that have experienced significant new construction and in many cases over building. These tend to be areas where prices are more affordable, land is available/inexpensive, and the political climate is pro-growth.

To illustrate why, picture a developer who built a tract of 300 homes in a community and sold them a few years back. You can imagine a billboard in front of the development that read “Why rent when you can own? With no money down and a teaser rate on your loan you can have payments similar to what you are paying now in rent!” These billboards certainly worked because first time buyers flooded to these developments to realize the dream of home ownership while taking part in the double digit appreciation we have been enjoying for many years. (more…)

With all the negative media out there, it’s hard to remember that “all real estate is local,” and that falling prices bring with them real opportunities. It’s true, especially here in Santa Barbara.

Here are 10 reasons to invest in today’s market: (more…)