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Monday, August 26, 2013
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Tuesday, August 13, 2013
Monday, August 5, 2013
8/5 Iinventory Update
A note about price reductions. I have heard from several sources that price reductions are becoming more common and I want to address the reason why and when that might occur. Right now, we listing agents and sellers are trying to find the sweet spot between buyer tolerance and preserving as much money for the seller as we can. Its fine line. Buyer enthusiasm is so great that it's often hard to find just the right price right off the bat and sometimes we miss it by a margin. Consider a price reduction as a seller flirting with buyers until a suitor comes along. Versus leaving money on the table, I encourage all my sellers in the beginning to price just at the edge of acceptable in order to make sure they don't leave money on the table. That’s just good business. My job is to get the most money for my sellers as possible and to get the best deal possible for my buyers. So let's dispense with the stigma of price reductions as a bad thing and instead think of them as price negotiations. I consider it a win/win when both sellers and buyers are happy and nobody feels disenfranchised.
New Listing
3112 Highway 246, Santa Ynez (2/1 on 3.5 acres) $1,500,000 This is near where the tribal manufactured housing is on highway 246 with the subject parcel directly abutting the highway. Likely you will recognize the big red barn if you drive by. House and barn closest to the highway with unused land behind it. This much land when flat and usable is surprisingly huge. The map overlay, which I have captioned here for you above, shows three contiguous lots - not just one (lots in sizes of 1.56 acre, 1 acre and .98 of an acre) with 1-E-1 zoning (residential). Next door is the 7.5 acre parcel that is proposed as the Golden Inn and Village. You can read an article about that by clicking here. City water to the site.
New Listing
272 Riverview, Buellton (5/3 on .16 of an acre) 450K Narrative alludes to perhaps some TLC that is necessary. I can say this is the best floor plan in Meadowridge and so would be totally worth doing a makeover. Not the typical bowling alley design, this one has a lot more to offer in terms of open floor plan and innovative use of space. May need some TLC but with this Meadowridge neighborhood easily trending in the low to mid 5's for a turnkey property, the price is definitely taking condition into account. Got a little elbow grease to spare? It’s a good one. Sold in 2007 for 693K.
New Listing
2045 Golpa, Solvang (4 acres, land only) 799K As you can see from the aerial map above, this lot is highly unusual and desirable due to its location abutting a vast amount of open space.
Back on the Market
3395 Sagunto, Santa Ynez (4/3 on .25 of an acre) 675K Well, hells bells. This is a great property! While I don't know this for sure, I would be hard pressed to guess the back on market has anything to do with the property. It is in mint move in condition and sports a superior floor plan with very good quality amenities. This is at the top of my favorites list in the under 700K market. If you are accustomed to living in luxury and are moving down, this is a great choice. If you want to become accustomed to living in luxury, this is a great choice! Very pretty home that will surprise you in terms of use of space, forward thinking design and quality at this price point.
Back on the Market
7003 Foxen, Los Olivos (multiple dwellings, 250 acres) $22,500,000 Went pending just on 7/18 but we see it back on the market today.
Price Reduction
1715 N. Refugio, Santa Ynez (3/3 on 5 acres) Was $1,675,000 with a new price of $1,595,000. Not quite a 100K but close. Refugio location but well off the main road on a private drive with views from this vista location. Additional 2000 square foot storage barn is a nice perk. Bit of a sleeper. If you haven't seen it, you should at this new price. Started at $1,795,000 a year ago.
Price Reduction
2557 Santa Barbara Ave., Los Olivos (4/4 on 6 acres) Was $2,450,00 with a new price of $2,295,000. Dramatic location. SB Ave address but located well off the main road on an extremely private and little traveled drive to this dramatic site. A highly unusual yet tasteful home with a downstairs suite of rooms that lend themselves very well to extended family, guests or live in help. Impeccable grounds. Very desirable location.
Price Reduction
1615 Elm, Solvang (2/1 on .17 of an acre) Was $499,500 with a new price of 485K. I usually don't report on small price reductions but this house is so cute, I want to make sure you take note. Also, this is the second price reduction as the original price was 529K. House is remodeled and spic and span. Small studio out back adds value. Just a couple of doors down from my listing at 1627 Elm priced at 405K which is currently in escrow.
In Escrow
1459 Remington, Santa Ynez (3/2 on 1 acre) 719K Newer house with 2006 construction. Current dwelling meant to be guest house but is nice enough for full time living. Most of the land left available for a main house or for your furry friends.
In Escrow
203 Vester Sted, Solvang (4/2 on .27 of an acre) 629K Redone and reinvented. A fresh take on a 1989 built home. Done but not over done. Very fresh on a good sized lot. Nyborg Estates has an HOA fee of $150 per quarter.
In Escrow
1328 Cimarron, Santa Ynez (4/2 on .46 of an acre) 689K College Estates is a convenient neighborhood of homes mostly on half an acre or more. Good sized homes, close to schools. This one a semi open floor plan and big open kitchen.
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Realtor
President SYV Association of Realtors 2013
DRE #01357602
Prudential CA Realty
P.O. Box 778
Los Olivos CA 93441
805.233.6461 efax
805.448.2727 direct
Friday, August 2, 2013
8/2 Daily Insider
Viva La to all those down there in the flat land of Santa Barbara where Fiesta is in full swing. Up here, we aren't getting any confetti eggs cracked on our heads but can easily drive down if we feel like a margarita or joining in the festivities. I'll be back here on Monday with all the news. Until then, watch out for crazy people with confetti eggs!
P.S. Week ending rate sheet available by clicking here thanks to Guy Rivera at Guarantee Mortgage.
New Listing
Highway 101, Los Olivos (62 acres, land only) 995K I have no idea where this parcel is. APN number is incorrect so the mapping feature is not working and there are no location details at this time. Check back on the link. Maybe there will be some later. Daily Insiders will get more info.
New Listing
440 Sycamore, Buellton (5/3 on .17 of an acre) 749K This one right next door to 450 Sycamore, also on the market at this time for 669K. Slightly different floor plan. They both have the same lot size and essentially the same square footage. Both right across the street from the park. What is the difference? 440 has 5 bedrooms and 450 has 3 bedrooms with an office. 440 is being sold furnished whereas 450 is not, keeping in mind that if using a loan, you can't take included personal property into consideration on appraisal.
New Listing
606 Aqueduct, Solvang (3/3 on .32 of an acre) 669K So many of these homes are 2 bedroom floor plans. It's nice to see a 3 bedroom every now and again. Generous lot size which the HOA takes care of for you. One of the nicer looking properties inside. HOA here is $640 per month.
In Escrow
409 Arden, Buellton (4/2 on .21 of an acre) 549K That was pretty fast at 8 days on the market. Even as prices are rising in these newer Buellton neighborhoods, buyer enthusiasm seems to be right there with them.
Sold
344 Wickenden, Los Alamos (3/3 condo) Listed at 265K and sold final for 262K. These are large condos, this one almost 1500 square feet.
**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.
Realtor
President SYV Association of Realtors 2013
DRE #01357602
Prudential CA Realty
P.O. Box 778
Los Olivos CA 93441
805.233.6461 efax
805.448.2727 direct
Thursday, August 1, 2013
8/1 Inventory Update and YTD Sold Data
We got through July at a good pace with 30 closed sales in residential properties. That is the most closed sales in one month we have had all year and certainly contained the highest priced sale seen for a long time at 22 million. Check out the YTD sales data here:
| Month | Units | Low Price | High Price |
| Jan | 24 | $289,000 | $3,000,000 |
| Feb | 25 | 155,000 | 2,500,000 |
| March | 21 | 370,000 | 2,600,000 |
| April | 24 | 285,000 | 6,000,000 |
| May | 25 | 410,000 | 1,650,000 |
| June | 25 | 287,000 | 2,995,000 |
| July | 30 | 200,000 | 22,000,000 |
Back on the Market
3667 Tivola, Santa Ynez (3/2 on .23 of an acre) 375K Third time falling out of escrow. I have seen this one and pretty much think I know what the problem is. Prior inspection reports are available. Daily Insiders will get a little more intel on this one. This is a bank owned property.
Price Reduction
2495 Lucca, Los Olivos (3/2 on .25 of an acre) Was 639K with a new price of $619,950. Usually Los Olivos properties sell pretty fast. This is a good street. House is casual with a bit of a cabin flair. I have seen this one so if you need more info, let me know.
Sold
195 Main St., Los Alamos (3/3 on .28 of an acre) Listed at 445K and sold final for 435K. This property struggled through a cancelled escrow in the beginning but all ended well. Main St. pretty much runs the whole length of town with this location overlooking the agricultural fields. Prices are on the way back up in Los Alamos, and rightly so.
Sold
2720 Ontiveros, Los Olivos (5/5 on 10 acres) Listed at $2,195,000 and sold final for $1,900,000. Started out at $2,495,000 159 days ago. One of the few acreage properties we have that are close to the LO village. Land all that and usable. A very pretty home. City water here.
**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.
Realtor
President SYV Association of Realtors 2013
DRE #01357602
Prudential CA Realty
P.O. Box 778
Los Olivos CA 93441
805.233.6461 efax
805.448.2727 direct
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