8/30 Inventory Update

I'm happy to be going into the long weekend with another success story. Of the furry kind. It gives me great joy to note that the last two goats you have been seeing on my site found a new and perfect home. My daughter and I picked them up in our horse trailer and took them to their new paradise. Actually their prior paradise wasn't so bad either. These are some darn lucky goats, I'll tell you that. So Buckwheat and Josie are living their happily ever after right here in the beautiful Santa Ynez Valley. Thanks to all of you who wrote to me about them.  

 

 

 

 

 

 

 

 

 

 

 

 

All of the brokerages are closed on Monday in observance of Labor Day so I will be back here on Tuesday with all the news. Until then, you can see I have provided here below (scroll all the way down) a list of homes that are in some way special, good values or just interesting. If you are here this weekend, take a drive. Check them out. Tell me what you think. I will be here this weekend if you need me. Don't hesitate to reach out if you do.  

New Listing

2424 Baseline, Ballard (2/1 on almost 1.5 acres) 979K This one is a bit of a sleeper. And you can't see it from the road so a drive by is futile. You might remember it from 2010 when it was on the market prior (did not sell at that time). This is a vintage property that has had some nice reworking. From the pics, it looks to be in even better condition than the last time I saw it yet has some preserved charm that only the passage of time will deliver. One of the really cool things about this property is its actually two parcels. The front parcel is zoned commercial and the back parcel is residential. Because this property is adjacent to the Ballard Inn, some people's brains might be spinning a thousand miles a minute wondering what they could do with that front parcel from an income producing standpoint. See aerial pic above. Or maybe the cuteness factor is so great, the long private driveway entrance over the commercial zoned portion is just what the doctor ordered in terms of security and a buffer zone from the street. Interesting, to say the least.  

Sold

265 Meadowlark, Santa Ynez (2/3 on 5 acres) Listed at $1,395,000 and sold final for $1,280,000. I showed this property a bunch of times because I really liked it and believed in the potential. Whereas I would consider the house a fixer, the original build had enough future thought expressed that the structure will totally support a trendy remodel and look fabulous. Land is all flat and usable which for us horsey people is like gold. Fantastic location with horizon views and end of the land privacy. A good buy.  

 Sold

620 Foxen, Los Alamos (4/3 on .93 of an acre) Listed at 649K and sold final for 620K. This is  a "high end" price in Los Alamos where most homes sell for under 500K. Take note this home was on the market in 2010 and didn't sell after 90 days. This time around went under contract in 14 days. More evidence of the Los Alamos renaissance. 

Sold

340 Shaw, Los Alamos (two units on .17 of an acre) Listed at 225K and sold final for 235K. Resilient buyers waited a long time for approval on this short sale. In the end it was all worth it because prices shot up since this offer was written but it got approved anyway. Bought today at last year's prices. Nicely done! 

 

Sold

395 Rancho Alisal, Solvang (main house and guest house on 1 acre) Listed at 749K and sold final for 676K. One of the rare Alisal Ranch properties that has a guest house. Also has a professional size gym and infinity pool. These homes are on leased land with annual land lease payments.  

Sold

1547 Alamo Pintado, Solvang (main house and guest house on almost 5 acres) Listed at 995K and sold final for 925K. Came on the market back in 2010 at $1,295,000. House vintage but in a good way. Right out of an old movie. Love the super adorable and historic barn. I am a total sucker for an old barn. I wonder what would be said if "these walls could talk". An oldie but a goodie from 1917 and surrounded by successful vineyards such as Rideau and Buttonwood. 

Some of My Favorite Available Properties to Consider

2175 Holly, Solvang 625K

216 Willow, Solvang 650K

450 Sycamore, Buellton 669K

3395 Sagunto, Santa Ynez 675K

1595 N. Refugio, Santa Ynez 795K

1760 Viborg, Solvang 925K

2948 Alta, Los Olivos 965K

2424 Baseline, Ballard 979K

203 Valhalla, Solvang $1,035,000

1516 Monarch, Santa Ynez $1,150,000

3100 Country Lane, Santa Ynez $1,297,000

1180 W. Highway 246, Buellton $1,650,000

3791 Live Oak, Santa Ynez $1,695,000

4088 Indian, Santa Ynez $2,100,000

1390 Via Dinero, Solvang $2,475,000 

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Sharon Currie

Realtor

President SYV Association of Realtors 2013

Author Santa Ynez Valley Real Estate Update

DRE #01357602

Prudential CA Realty

P.O. Box 778

Los Olivos CA 93441

www.sharoncurrie.com

sharon@sharoncurrie.com

805.233.6461 efax

805.448.2727 direct

 

 

8/29 Inventory Update

Pretty slow day as we head into the holiday weekend. Just one item.  

New Listing

636 Lillebakke, Solvang (3/3 on .62 of an acre) $1,190,000 Where the heck is Lillebakke? Little known cul de sac (Mission Dr. aka highway 246 to Pine, right on Laurel, left on Lillebakke).  Close to town but not too close and actually abuts the Mission Oaks development . Small enclave of upper scale two story homes. This one a custom build possessing an exponentially preferable lot location cantilevered out towards the view corridor. 

**Email me direct for Daily Insider subscription. Get these posts emailed direct to you with private comments and weekly foreclosure reports.

The information contained in this email is confidential information only intended for the use of the individual or entity named. If the message has been delivered to a person who is not the intended recipient or an agent responsible for delivering it to the intended recipient, you are hereby notified that any unauthorized use, dissemination, distribution or copy of this communication is strictly prohibited.

Sharon Currie

Realtor

President SYV Association of Realtors 2013

Author Santa Ynez Valley Real Estate Update

DRE #01357602

Prudential CA Realty

P.O. Box 778

Los Olivos CA 93441

www.sharoncurrie.com

sharon@sharoncurrie.com

805.233.6461 efax

805.448.2727 direct

 

 

8/28 Inventory and Rate Update

Here is your mid week rate update from Guy Rivera a Guarantee Mortgage in Santa Barbara and Solvang. Click here.  

One notable item that was shared with me recently. The Mission Oaks development has now been approved for FHA financing (3.5% down) which also, as I understand it, makes these homes eligible for reverse mortgage financing. 

In Escrow

616 Hillside, Solvang (2/3 on .02 of an acre) 599K This is in the Mission Oak development. Free standing homes mixed with condos. Pool, tennis, clubhouse. HOA fees here are $640 per month.  

In Escrow

1576 Oak, Solvang (2/2 condo) $274,700 Three story condo (garage, living, bedroom levels). Very close to PCPA Theatrefest and pretty much everything else. Low HOA here of $295 per month reflects lack of amenities a lot of people don't use anyway (pool, tennis etc.). Why pay for them if you aren't going to use them? Deck off the master but no yard space. No dogs allowed.  

Sold

5574 Baseline, Santa Ynez (main house, guest quarters on 5 acres) Listed at $1,695,000 and sold final for $1,597,500. Came on the market at $2,295,000 when first introduced 568 days ago.  

Sold

3089 Tiana, Santa Ynez (main house and guest house on .86 of an acre) Listed at 979K and sold final for same. Worth every penny with a very classic yet current remodel. Good neighborhood too. Land all flat and usable. One of the nicest in town ranchette properties we have seen in some time.   

**Email me direct for Daily Insider subscription. Get these posts emailed direct to you with private comments and weekly foreclosure reports. 

The information contained in this email is confidential information only intended for the use of the individual or entity named. If the message has been delivered to a person who is not the intended recipient or an agent responsible for delivering it to the intended recipient, you are hereby notified that any unauthorized use, dissemination, distribution or copy of this communication is strictly prohibited. 

Sharon Currie

Realtor

President SYV Association of Realtors 2013

Author Santa Ynez Valley Real Estate Update

DRE #01357602

Prudential CA Realty

P.O. Box 778

Los Olivos CA 93441

www.sharoncurrie.com

sharon@sharoncurrie.com

805.233.6461 efax

805.448.2727 direct

 

 

Pending Home Sales: July 2013

Today, the National Association of Realtors (NAR) released their Pending Home Sales Report for July showing that pending home sales declined with the seasonally adjusted national index falling 1.3% from June but increasing 6.7% above the level seen in July 2012.

Meanwhile, the NARs chief economist Lawrence Yun is suggests that the recent pullback in contract activity does not constitute a general trend while in the Northeast and West, higher rates and prices are having an impact on sales:

"The modest decline in sales is not yet concerning, and contract activity remains elevated, with the South and Midwest showing no measurable slowdown.  However, higher mortgage interest rates and rising home prices are impacting monthly contract activity in the high-cost regions of the Northeast and the West ... More homes clearly need to be built in the West to relieve price pressure, or the region could soon face pronounced affordability problems."

The following chart shows the seasonally adjusted national pending home sales index along with the percent change on a year-over-year basis as well as the percent change from the peak set in 2005 (click for larger version).

Reading Rates: MBA Application Survey – August 28 2013

The Mortgage Bankers Association (MBA) publishes the results of a weekly applications survey that covers roughly 50 percent of all residential mortgage originations and tracks the average interest rate for 30 year and 15 year fixed rate mortgages as well as the volume of both purchase and refinance applications.

The purchase application index has been highlighted as a particularly important data series as it very broadly captures the demand side of residential real estate for both new and existing home purchases.

The latest data is showing that the average rate for a 30 year fixed rate mortgage (from FHA and conforming GSE data) increased a notable 12 basis point to 4.66% since last week while the purchase application volume increased 2% and the refinance application volume declined 5% over the same period.

Rates continuing to rise after some settling and following weeks of explosive increases that saw a rise of over 100 basis points seemingly directly correlated with the Feds recent suggestion that they may start to "taper" the GSE and treasury purchases later this year.

The following chart shows the average interest rate for 30 year and 15 year fixed rate mortgages since 2006 as well as the purchase, refinance and composite loan volumes (click for larger dynamic full-screen version).

8/27 Inventory Update

New Listing

 

 

 

 

 

 

 

 

 

 

 

 

 

 

870 Entrance, Solvang (3/2 on 1 acre) 600K About 4 or 5 years ago, this home underwent a major retooling. Last time I was there a couple of years back, felt like brand new inside. Pool is out of the way on the end. Lawn goes out on the highway side. This is a corner lot which faces highway 246 but the entrance to the driveway is on Entrance Rd. See aerial pic above.  

New Listing

 

 

 

 

 

 

 

 

 

 

 

 

 

 

405 Via Corona, Buellton (4/3 on .57 of an acre) $589,900 Not in the Sycamore Ranch section but also not in the older section. These homes are "tweeners" built in the late 70's. Somewhat of a perimeter feel. As you can see from the pics on the link above, the backyards slope up so you get to avoid having a back neighbor right there. And the neighbor that is back there is a small ranch property which amounts to a nice open space behind the fence. These homes also sit up above the road adding even more privacy. Big lot at over half an acre. Lots of upgrades over time and a 3 car garage. Some views too. This one is all about location and views.  

Price Reduction

1935 N. Refugio, Santa Ynez (4/4 on 5 acres) Was $1,699,000 with a new price of $1,599,000. Refugio address but accessed on a long private drive off the main street and tucked in behind another property for a practically zero traffic impact. Some nice remodel done here in a sprawling spacious floor plan. I love the master bedroom walk in closet - its huge!  

Sold

1627 Elm, Solvang (2/1 on .16 of an acre) This is a listing in my own inventory. Listed at 405K and sold final for 380K. This home is near and dear to my heart as I knew one of the sellers personally who has since passed away. I know she would be thrilled with how it all turned out. This is a precious cozy vintage home that has had a ton of love and good care over the years with lots more to come!  

**Email me direct for Daily Insider subscription. Get these posts emailed direct to you with private comments and weekly foreclosure reports.

The information contained in this email is confidential information only intended for the use of the individual or entity named. If the message has been delivered to a person who is not the intended recipient or an agent responsible for delivering it to the intended recipient, you are hereby notified that any unauthorized use, dissemination, distribution or copy of this communication is strictly prohibited. 

Sharon Currie

Realtor

President SYV Association of Realtors 2013

Author Santa Ynez Valley Real Estate Update

DRE #01357602

Prudential CA Realty

P.O. Box 778

Los Olivos CA 93441

www.sharoncurrie.com

sharon@sharoncurrie.com

805.233.6461 efax

805.448.2727 direct

 

 

S&P/Case-Shiller: June 2013

Today's release of the S&P/Case-Shiller (CSI) home price indices for June reported that the non-seasonally adjusted Composite-10 price index rose a notable 2.20% since May while the Composite-20 index also increased 2.15% over the same period.

The latest CSI data is continuing to demonstrate significant resiliency compared to past years, as prices remained stable through the typically slow winter and early spring period and now appear to be rising notably through the more active late spring period.

The 10-city composite index increased 11.89% as compared to June 2012 while the 20-city composite increased 12.07% over the same period.

Both of the broad composite indices still show significant peak declines slumping -23.39% for the 10-city national index and -22.75% for the 20-city national index on a peak comparison basis.

To better visualize today’s results use Blytic.com to view the full release.

8/26 Inventory Update

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New Listing

203 Valhalla, Solvang (3/3 on .42 of an acre) $1,035,000 I wish I had a dollar for every time I drove a client into the Village Collection and they took a deep breath while pointing at this exact house and said "I have always wanted a house just like that one with the big wraparound porch". Well, here you go. It finally came on the market. Very romantic curb appeal in a higher end yet in town development. Walk to town, golf or take your pick of nice restaurants or wine related venues. While not on the perimeter, the location is very good with some mountain views from this coveted porch. A generous home with almost 3000 square feet of  1997 time warp condition home. Single story with faux dormer windows. Drive by. I bet you can't resist wanting to see inside because the outside is like a tractor beam.  

New Listing

1722 Eucalyptus, Solvang (3/2 on .19 of an acre) 499K I have had the advance privilege of showing this one several times prior to coming on the market. Surprisingly spacious for a 1962 Solvang vintage bungalow at almost 1900 square feet.  The square footage abundance expresses itself in a very large living room, dining area and a good sized original design though well kept condition kitchen. Room addition on the back side adds space too. Original bedroom wing with 2 bedrooms share a vintage bath. Near the interior garage door is another bedroom and bath. Back yard is natural which is nice when talking about Solvang water rates. Water features, ponds, loads of pretty mature plantings. While not your typical back yard, a very interesting and arresting one anyway. I personally like a natural setting where you can create a botanic garden and this one certainly fits that model. Just a few short blocks from town so very close to everything. A well priced vintage cutie with the added benefit of large living spaces - not easy to find in the vintage Solvang marketplace. Single car garage with additional driveway and street parking. This end of Eucalyptus is near the intersection of Alisal.  

New Listing

1360 Willow, Santa Ynez (4/3 on .47 of an acre) 745K Big house on a big lot. Almost 2400 square feet of well preserved 1980's construction. Big flat almost half an acre lot is more than most in town dwellers need for garden, soccer ball kicking or for furry friends. In excellent condition and College Estates location adds some value. Rural in an area of like sized lots but still minutes from all conveniences.  

Sold

645 Chalk Hill, Solvang (3/2 on .24 of an acre) Listed at 595K and sold final for 590K. Two story home with the master upstairs and two guest bedrooms down. Good condition home with crisp newer style construction from 1994. The pool area was quite smashing. Very close to the unfolding Vistas at Skytt Mesa development currently being built.  

The information contained in this email is confidential information only intended for the use of the individual or entity named. If the message has been delivered to a person who is not the intended recipient or an agent responsible for delivering it to the intended recipient, you are hereby notified that any unauthorized use, dissemination, distribution or copy of this communication is strictly prohibited.

Sharon Currie

Realtor

President SYV Association of Realtors 2013

Author Santa Ynez Valley Real Estate Update

DRE #01357602

Prudential CA Realty

P.O. Box 778

Los Olivos CA 93441

www.sharoncurrie.com

sharon@sharoncurrie.com

805.233.6461 efax

805.448.2727 direct

 

 

Radar Watching: May 2013

As I have noted in the past, since the home price index data provided by Radar Logic is more timely, unadjusted and un-smoothed it is particularly useful for gaining deeper visibility over our housing markets.

As for the latest trends, it’s important to note that the 25-MSA Composite is continuing to show significant year-over-year increases rising 9.5% above the level seen in May 2012 with prices, more or less, bucking the typical seasonal trends and staying elevated throughout the winter months and on into spring.

This year we see a very small price drop moving into November possibly indicating that the remainder of the price declines until March could also be relativity small.

New Home Sales: July 2013

Last week, the U.S. Census Department released its monthly New Residential Home Sales Report for July showing a notable pullback with sales falling a whopping 13.41% from June and rising just 6.78% above the level seen in July 2012 remaining at an historically low level of 394K SAAR units.

It's important to recognize that the inventory of new homes appears to be mounting as unsold units totaled 171K, still though near the lowest level seen in in at least 47 years while the median number of months for sale declined to 3.5.

The monthly supply increased to 5.2 months while the median selling price increased 8.34% and the average selling price increased 14.31% from the year ago level.

The following chart show the extent of sales decline to date (click for full-larger version).

8/23 Inventory Update

The weekend is upon us. I hope you have something fun planned. I'll be here working but to me, that’s actually fun. If you need me, I'm around so don't hesitate to reach out if you need me. Back on Monday with all the news. 

Before we get down to business today, here are your week ending rates from Guy Rivera at Guarantee Mortgage. Click here. 

Price Reduction

440 Sycamore, Buellton (5/3 on .17 of an acre) Was 749K with a new price of 719K. One of the big ones and in better than new condition. 

In Escrow

233 St. Joseph, Los Alamos (3/3 on .23 of an acre) 425K Having been rented as residential, highest and best use here is commercial, as it is zoned, in this fast growing town. On the market only a few days before it started receiving offers. Not right on the main drag but about half a block off. Charming as only the 1800's era could deliver.   

Sold

9160 Highway 101, Los Alamos (3/3 on 3 acres) Listed at 595K and sold final for 560K. Went in multiple offer after being on the market since 2010. Go figure. Anything is possible in Los Alamos these days.  

Sold

2146 N. Refugio, Santa Ynez (main house plus bunkhouse on 3.5 acres) Listed at $1,095,000 and sold final for 922K. This is a listing in my own inventory selling to my very own clients. You know how sometimes things just click? Well, that happened. As is always the case, the right people bought the right property. This is a property that takes some vision and at the same time, appreciation for what it already is. There is value in history and good bones and there are people who innately understand this. These buyers are those kind of people. This house is like coming home to your favorite slippers, a comfortable saddle or your favorite dog waiting for you on the front steps. All these things say "I'm home and all is well". That’s what this house represents. I'm home and all is well.  And old timer who has lots of love and happiness left to give. I couldn't be happier that the stewardship of this home that has made so many people happy is left in the hands of those who will treat it well, love it and make their own memories here. Congrats to my patient and so diligent buyers. You did it! Thank you to my sellers who trusted me and never gave up.   

**Email me direct for Daily Insider subscription. Get these posts emailed direct to you with private comments and weekly foreclosure reports. 

The information contained in this email is confidential information only intended for the use of the individual or entity named. If the message has been delivered to a person who is not the intended recipient or an agent responsible for delivering it to the intended recipient, you are hereby notified that any unauthorized use, dissemination, distribution or copy of this communication is strictly prohibited.

 

 

 

Sharon Currie

Realtor

President SYV Association of Realtors 2013

Author Santa Ynez Valley Real Estate Update

DRE #01357602

Prudential CA Realty

P.O. Box 778

Los Olivos CA 93441

www.sharoncurrie.com

sharon@sharoncurrie.com

805.233.6461 efax

805.448.2727 direct