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.
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.
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.
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.
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.
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President SYV Association of Realtors 2013
Prudential CA Realty
P.O. Box 778
Los Olivos CA 93441