Real Estate February 4, 2014

Warm weather and real estate conditions

With 60 to 70 degree temperatures and plenty of sunshine forecast for the next two weeks it’s hard to think of a more pleasant place to look at real estate this time of year than in and around Santa Barbara. The only dilemma buyers are having is whether to choose from the limited supply of homes currently for sale or wait to see if inventory levels increase as the year progresses. Last year Santa Barbara’s home inventory reached its peak in October, while in 2012 and 2011 the peaks happened in February and July respectively.

Long time watchers of the real estate market in Santa Barbara pretty much agree that if a property becomes available that’s reasonably priced and close to meeting your needs don’t hesitate on making a decision. Chances are that the longer you’ve been looking for a particular property the more built up demand there will be from other buyers for the same home. When multiple offers arise it’s not uncommon for a long awaited property to sell for over the asking price to an all-cash buyer.

There’s no time like the present. Low interest rates, off-peak competition, and a reasonable number of homes to choose from. The current conditions may be just what you’ve been looking for. I appreciate your inquiries and the opportunity to be of assistance.