Santa Barbara Home Buying Fair – Success!

It was wonderful seeing all the home buyers last Saturday at the Fess Parker for our annual Home Buying Fair!

Coastal Housing Partnership’s 4th Annual Home Buying Fair was a success. The turnout of interested local homebuyers included first-time home buyers, ‘move-up’ buyers, those refinancing and those seeking financial and other services to help them prepare to be the strongest buyers possible. We cannot thank our sponsors, educational seminar speakers and exhibitors enough for their participation!

You can click here to watch a slideshow of some of the day’s photos.

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Home Ownership In Santa Barbara and Ventura County Is Possible!

Owning a home is a major part of living the American Dream, but for many Santa Barbara and Ventura County residents, that dream does not seem possible. We know that home ownership in Santa Barbara and surrounding communities is possible and that is why we are hosting our 4th Annual Home Buying Fair this Saturday, May 9th at Fess Parker’s Doubletree Resort in Santa Barbara.

Since our inception in 1987, Coastal Housing Partnership helped over 10,000 people become homeowners by connecting the employees of Central Coast employers with:

  • Home buying benefits
  • Home buying education seminars
  • Resources as employees navigate their way through the home buying process
  • Mortgage refinance benefits
  • Rental assistance benefits
  • A network of service professionals to assist employees in their search for area housing, whether leasing or buying

Our resources are accessible to Coastal Housing Partnership Employee Members, but our Home Buying Fair on May 9th is open to the public to give attendees the opportunity to find out more about the home buying process, the real estate market, and to meet local real estate professionals.

Whether you’re just beginning to think about buying a home or ready to take the plunge, our upcoming event something for everyone.

The Santa Barbara News-Press recently wrote about Coastal Housing Partnership profiling three home buying success stories in a news piece by Andrea Cambern called “The Houseaholic.” In the article, you can read about Santa Barbara and Ventura families who were able to buy homes thanks to our resources. One of the success stories profiled in the News-Press article attended the Santa Barbara Home Buying Fair two years in a row. She said: “The resources of CHP helped us get started and kept me thinking this could really happen.”

Attendees can meet one on one with real estate agents, lenders, credit and
financial advisors and home builders in a relaxed — no pressure — environment. In addition, free seminars will be presented throughout the day on local market conditions and the home buying process.

For more information on Coastal Housing Partnership’s 4th Annual Home Buying Fair at Fess Parker’s Doubletree Resort, Saturday, May 9th from 10am-3pm, visit




Your Key To The Santa Barbara Real Estate Market

Ruth-Ann-BoweToday’s guest post is from Ruth Ann Bowe, of Keller Williams Realty Santa Barbara posted on April 29th, 2015.

South Santa Barbara County Real Estate Statistics
Through March 2015

This is an analysis of the Santa Barbara Real Estate market including Carpinteria/Summerland, Montecito, Hope Ranch, downtown Santa Barbara and Goleta through the month of March 2015. For the Home Estate/PUD market sales went way up for the month with about 117 closings from the 58 we saw in February. The Median Sales Price also rose to about $1.2 million up from $1,035,000 at the end of February while the days on the market for sold properties went down to around 54 from the 71 we saw in the previous month. The opened escrows stayed at about the same level from 121 in February to about 118 in March.

The median list price on those escrows went up however to about $1.249 million from $1,050,000 in February. There were approximately 160 new listings that came on the market in March with a median list price of roughly $1.45 million and an average list price of about $2.5 million with the overall inventory rising from about 260 units for sale at the end of February to around 280 at the end of March.

Year over year sales are up about 22% with the median sales price up to roughly $1.15 million for a 12% rise. The average sales price is also up going from just over $1.585 million in 2014 to approximately $2 million in 2015 while the numbers of escrows are up about 29% with the median list price on those escrows up over 11% to $1,175,000.

Looking at the Districts, Carpinteria/Summerland sales are up from 11 to 24 and the median sales price is up from $845,000 to $895,500. The numbers of escrows are also up from 23 to 29 with the median list price on those escrows falling from $865,000 last year to $829,000 this year

For Montecito, sales are up going from 38 to 46 with the median sales price rising from $2,112,500 to $2.86 million. Escrows are also up going from 41 to 53 and the median list price on those escrows is up from $2.795 million to $2.95 million.

East of State St sales are up going from 59 in ’14 to 68 in ’15 and the median sales price is up from $1,225,000 to $1.25 million. The escrows are also up going from 61 to 75 with the median list price on those escrows rising from $1,295,000 last year to $1,349,000 this year.

West of State St sales are up from 48 to 50 but the median sales price is down from $950,000 to $845,000. The numbers of escrows are also up with 49 in ’14 compared to 69 in ’15 and the median list price on those escrows is up from $895,000 last year to $1,055,000 this year.

Hope Ranch sales are up from 7 to 12 but the median sales price is down from $5.105 million to $2.86 million. The numbers of escrows are also up with 8 last year compared to 12 this year. But, the median list price on those escrows is down from $3.85 million in ’14 to $2.89 million in ’15.

Goleta South sales are up with 13 last year and 19 this year but the median sales price is down from $780,000 to $760,000. The numbers of escrows are also up from 15 to 20 with the median list price on those escrows rising from $739,000 to $778,000.

Goleta North sales are up with 31 in ’14 to 36 in ’15 with the median sales price rising from $770,000 to $862,500. The numbers of escrows are also up from 48 to 50 with the median list price on those escrows going from $789,000 to $949,000.

For the Condo segment of the market sales went way up to 56 in March from 27 in February. The median sales price also went up from $542,500 to $587,000 and the numbers of escrows went up from 38 to 68 with the median list price on those escrows rising from $542,000 to about $559,500.

There were about 45 new condo listings that came on the market for the month with a median list price of about $599,000 and an average list price of approximately $686,697. But, unlike the Home Estate/PUD market the overall inventory fell from just about 86 to roughly 65.

Looking at the Districts, Carpinteria/Summerland sales are up from 7 to 24 with the median sales price falling from $527,500 to $475,000. The numbers of escrows are also up from 10 last year to 30 this year but the median list price on those escrows is down from $478,500 to $474,000.

Montecito condo sales are up with 3 in ’14 and 7 in ’15 with the median sales price up from $850,000 to $950,000. The numbers of escrows rose with 5 in ’14 and 10 in ’15 while the median list price on those escrows is up from $950,000 in ’14 to $967,000 in ’15.

East of State St sales are up from 21 to 35 with the median sales price rising from $593,250 to $634,350. The numbers of escrows are also up going from 23 to 48 with the median list price on those escrows falling from $675,000 last year to $575,000 this year.

West of State St sales are up from 16 to 29 with the median sales price up from $607,500 to $618,500. The escrows went from 24 to 32 with the median list price on those escrows going from $644,900 to $699,000.

Goleta South sales are down from 16 to 15 with the median sales price even from $475,000 to $475,000. But the numbers of escrows are up with 15 in ’14 and 21 in ’15 while the median list price on those escrows is down from $537,000 last year to $475,000 this year.

Goleta North sales are down from 14 to 11 with the median sales price up from $429,000 to $497,000. The escrows are also down from 18 to 15 with the median list price on those escrows going up from $429,000 to $489,000.

Through the end of the 1st quarter both sales for the Home Estate/PUD and Condo markets are up compared to 2014 and prices are also up. Approximately 12.8% of the home sales went for over the asking price in March with about 13.4% of the condos. For Homes the percentage of the sales price over the asking price was about 3.1% while for condos it was about 1.7%. On the other side of the coin 23% of the Homes had a price reduction and 36% of the condos went down in price.

Escrows are up for both single-family homes and condos but the second quarter based on escrows looks like it’s stabilizing for homes and based on the inventory perhaps even falling for condos. The median sales price for homes has risen to roughly $1.1 million while the median sales price for condos is up to around $570,000. Listings are still the key for a successful 2015.

In March the inventory for single-family homes rose about 9% to roughly 285 properties for sale while it went down about 20% for condos to approximately 65 units. 2015 has started out strong for sales of homes and condos with the median sales price rising for both segments. The question is whether that momentum will be maintained.

kw-santa-barbaraThank you Ruth Ann for your guest post! You can learn more about Ruth Ann Bowe and Keller Williams Santa Barbara by visiting www.kwsantabarbara.com/.

Keller Williams is an Exhibitor at our Home Buying Fair on May 9th.




You Can’t Afford to Miss The Home Buying Fair!

Learning to navigate the home buying process can be daunting if you don’t have the right tools and resources. If you are looking or wanting to buy a home in Santa Barbara or Ventura County or other neighboring communities, then you can’t afford to miss Coastal Housing Partnership‘s 4th Annual Home Buying Fair Saturday, May 9th at Fess Parker’s Doubletree Resort in Santa Barbara.

-Learn how to navigate the home buying process and today’s real estate market
-Get information and resources to help you save money and make good decisions
-Meet with local home buying experts: local real estate agents, lenders, credit and financial advisors, and residential builders
-Attend free educational sessions on key aspects of the home buying process and local market conditions (there will be a session in Spanish as well)
-Leave with great information

The Fair is free for employees of Coastal Housing Partnership members and children under 18; $5 for adults.




Home Buyers Can’t Afford to Miss Home Buying Fair

If you are a first time home buyer, a move-up buyer, getting back into the market or just thinking about buying a home, Coastal Housing Partnership‘s 4th Annual Home Buying Fair is an event you can’t afford to miss!


Coastal Housing Partnership’s 4th Annual Home Buying Fair is Saturday May 9th from 10am to 3pm at Fess Parker’s Doubletree Resort in Santa Barbara.

The Home Buying Fair is a one-stop shop for potential home buyers to access valuable tools, resources and information on how to navigate the home buying process in today’s real estate market and get on the path to home ownership.

Admission is free for members / $5.00 for adults.

Visit www.CoastalHousing.org/Home-Buying-Fair/ for more information.




Santa Barbara and Ventura County Mortgage Update

kelly_marsh_santa_barbaraToday’s guest post is from Kelly Marsh, Branch Manager of Broadview Mortgage posted on March 24th, 2015.

Mortgage Rate Update

The big story this week was last Wednesday’s Fed meeting, and the Fed statement was well received by mortgage investors. Also positive for mortgage rates, the economic data released last week fell short of expectations. As a result, rates ended the week lower.

LAST WEEK’S RATE TREND IS DOWN

Loan Amounts under $417K, Shown as Note Rate/APR
Conforming 30 year fixed: 3.990/4.060
FHA 30 Year Fixed: 3.625/5.146
Conforming 5/1 ARM: 3.000/3.056
Conforming 7/1 ARM: 3.125/3.114

Loan Amounts over $417K up to County Limits, Shown as Note Rate/APR
High Balance Conf. 30 Year Fixed: 4.125/4.172
FHA High Balance 30 Year Fixed: 3.750/5.264
High Balance 5/1 ARM: 3.375/3.182

Loan Amounts Exceeding County Limits, Shown as Note Rate/APR
Jumbo 30 Year Fixed: 3.750 /3.789
Jumbo 5/1 ARM: 3.125/3.065
Jumbo 7/1 ARM: 3.375/3.211
Jumbo 10/1 ARM: 3.750/3.428

Loan Limit Snapshot

Conforming
All Counties: $417,000

High Balance Conforming
Santa Barbara: $625,500

Ventura: $603,750
San Diego: $546,350
LA/Orange: $625,500

FHA
Santa Barbara: $625,500
Ventura: $598,000
San Diego: $546,250
LA/Orange: $625,500

Kelly Marsh

Thank you Kelly for your guest post!  You can learn more about Kelly Marsh and Broadview Mortgage by visiting www.broadviewsb.com/ and reading her bio on our Award Winners page. Coastal Housing Partnership recognizes the real estate agents and lenders who have completed the most transactions for Coastal Housing Partnership employee members in the past 18 months. The house symbol is awarded with one to four houses in recognition of partner’s extra efforts in helping employees with their housing transactions. Kelly has a four-house rating (the highest rating possible).

Broadview Mortgage is an Open Door Sponsor for our Home Buying Fair on May 9th.