Federal Reserve Warns Housing Bubble Brewing
The Future of Real Estate
And the adventure begins. 2022 promises to be an interesting moment in time for real estate sales throughout California. Real...
Santa Barbara Market Conditions
Don’t Expect a Real Estate Crash
Hyperactive buyers have been driving up home prices for homes that are in good condition and have been selling at...
What Factors Affect Real Estate Markets & Property Values?
To help you better understand today’s real estate markets and property values this post takes a look at the macro...
Real Estate Boom?
The real estate market took off in California last spring. As soon as the shut-in began people began re-evaluating their...
Santa Barbara Real Estate Market Insights
Zillow Zestimate off by only $28,220,637 ?
1627 East Valley Road sold on March, 27, 2018 for $35,000,000. Zillow’s estimate of the property’s value was off by...
Buyer’s Market?
CNBC reported on July 24, 2018, that sales of both new and existing houses and condominiums dropped 11.8 percent year over year, as prices shot up to a record high, according to CoreLogic. The median price paid for all Southern California homes sold in June was a record $536,250. A 7.3 percent increase compared to June 2017. In the past California, one of the largest housing markets in the nation has been a predictor for the rest of the country. Sales fell 1.1 percent compared with May, but the average change from May to June, going back to 1988, is a 6 percent gain. The weakness was especially apparent in sales of newly built homes, which were 47 percent below the June average. Part of that is that builders are putting up fewer homes, so there is simply less to sell.
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