121 W De La Guerra #7 featured in the Independent!

Grab a copy of The Santa Barbara Independent and check out the feature on our downtown listing, 121 West De La Guerra #7! Located in the heart of downtown Santa Barbara and less than a mile from the beach, this 1BD/2BA unit is located in the Spanish-themed One Twenty One complex. Recipient of both the American Institute of Architects' award for excellence in design and the coveted Santa Barbara Beautiful Award in 2014, this luxury condo is bright, modern, and authentic both inside and out. Featuring a loft, a private patio, and a gated garage, 121 W De La Guerra #7 seems removed from the hustle and bustle of downtown, even though it's only a few steps from the shops and restaurants of Paseo Nuevo. Click here to read more about One Twenty One and thank you Santa Barbara Independent for the fantastic writeup!

The Real Reasons Americans Buy a Home

Moving into a new house is so much more than simply relocating to a different place. When we leave behind a home, especially one we’ve lived in for a long time, we also leave behind all those years spent enjoying it. Children who were tiny when you moved in have grown into strapping teenagers under its roof. Friends have visited, meals have been shared, and the small dramas of everyday life have been played out in it, so it can be emotional to walk away.

Settling into a new home that carries traces of its previous owners also can take time. So in the rush and chaos of moving, take time to celebrate the home you’re leaving and get set to enjoy the place you’re moving into with these tips for easing the transition.

#CurbAppeal Ideas

Home Exterior Makeovers Browse before-and-after photos of these home makeovers and get ideas for updating your own place.

7 Reasons to Escape to #Carpinteria

This sleepy surf town is the perfect L.A. getawayMissing the mellow days before Abbot Kinney became chi-chi and it cost millions to get a beach house next to a power plant? Take a 90-minute drive up the coast to Carpinteria, the tiny surf town known for its Rincon surf break and, until recently, not much else. Now there are a few spots of style, but not too many, so that your weekend getaway will seem more like an escape than a scene.

 

Bike

First off, most everything you want to do in this tiny town is within a ten-block radius. So rent a cruiser for the weekend at the local mom-and-pop bike shop right on the main drag.

Rincon Cycles, 5100 Carpinteria Ave.; 805-684-9466 or rinconcycles.com

Shop

Exquisite hand-thrown vessels are on offer at Miri Mara, a boutique attached to the workshop where Italian-born Mara works. Bowls, vases and plates ($100 to $500) are elegant and understated, as is the location, unassumingly sandwiched in beside an auto repair shop.

Miri Mara, 5292 Carpinteria Ave. #B; 805-220-6285 or mirimara.com

 

Tour

Take time to smell the roses--all 25,000 of them--at Rose Story Farm. This small family farm is dedicated to growing the flower, many of them heirloom varieties, and co-owner Danielle Hahn has received international recognition for her gorgeous gardens and educational tours, offered by appointment May through November ($48).

Rose Story Farm; 805-566-4885 or rosestoryfarm.com

Stay

We love a town that hasn’t yet gotten a trendy boutique hotel. Here you can play pretend “I’m a surf bum” by renting a sweet cottage (from $264 per night) a block and a half from the water. Just try not taking a nap under the ceiling fan, with the windows open to the salty breeze.

Available at vrbo.com

Indulge

You can keep your Proustian madeleine. We’ll take salt-water-taffy nostalgia any day, especially when it’s made on-site in a crazy rainbow of flavors.

Robitaille’s, 900 Linden Ave.; 805-684-9340 or robitaillescandies.com

Drink

Stop in for a glass of crisp Central Coast Chardonnay ($9) and a cheese plate after a hard day hitting the waves. Sit on the patio and critique the locals’ skateboard styles and sunburns.

Cork Tree Cellars, 910 Linden Ave.; 805-684-1400 or corktreecellars.com

Learn

NBD, but you can hang ten by the afternoon with a surfing or stand-up paddleboard lesson (from $65) that includes equipment rental and inside intel on what the week’s waves will look like.

A Frame Surf Shop, 3785 Santa Claus Ln.; 805-684-8803 or aframesurf.com

Where Are Mortgage Rates Headed? This Fall? Next Year?

The interest rate you pay on your home mortgage has a direct impact on your monthly payment. The higher the rate the greater the payment will be. That is why it is important to look at where rates are headed when deciding to buy now or wait until next year.

Below is a chart created using Freddie Mac’s July 2015 U.S. Economic & Housing Marketing Outlook. As you can see interest rates are projected to increase steadily over the course of the next 12 months.

How Will This Impact Your Mortgage Payment?

Depending on the amount of the loan that you secure, a half of a percent (.5%) increase in interest rate can increase your monthly mortgage payment significantly.

Dr. Frank Nothaft, the SVP & Chief Economist for CoreLogic, had this to say in their latest MarketPulse:

“If you are thinking of buying a home and have the financial means to do so, this could be a good time to take a look at the neighborhoods you are interested in. We expect home prices in our national index to be up about 4.3% in the next 12 months, and mortgage rates are also likely to increase over the next year.”

If both the predictions of home price and interest rate increases become reality, families would wind up paying considerably more for their next home.

Bottom Line

Even a small increase in interest rate can impact your family’s wealth. Meet with a local real estate professional to evaluate your ability to purchase your dream home.

Price Growth Expectation in The Next 12 Months

REALTORS® who responded to the June 2015 survey expect prices to increase over a range of two to seven percent, with the median at 3.4 percent over the next 12 months, according to the June 2015 REALTORS® Confidence Index Survey Report. Since all real estate is local, price expectations varied across local markets and states. The map shows the median expected price change in the next 12 months for each state based on the April 2015–June 2015 RCI surveys.[1] REALTORS® from Colorado and Florida had the most upbeat price expectations, with a median expected price growth in the range of five to seven percent. In California, Nevada, Washington, Oregon, Texas, Minnesota, Georgia, New Hampshire, and the District of Columbia, the median expected price growth was four to five percent. Prices are expected to increase at a modest pace of less than three percent in many Northeast states as well as in the West North Central states.

5 Reasons You Should Sell Now

As the temperature continues to rise, buyers are coming out ready to purchase their dream home. Here are five reasons that you should list your house for sale now.

1. Strong Buyer Demand

Foot traffic refers to the number of people out actually physically looking at homes right now. The latest foot traffic numbers show that there are significantly more prospective purchasers currently looking at homes than at any point in the last two years!

These buyers are ready, willing and able to purchase… and are in the market right now! Take advantage of the buyer activity currently in the market.

2. There Is Less Competition Now

The National Association of Realtors reported last week that housing supply has slipped to a 5.0-month supply. This is still under the 6-month supply that is needed for a normal housing market.

This means, in most areas, there are not enough homes for sale to satisfy the number of buyers in that market. This is good news for home prices.

There is a pent-up desire for many homeowners to move as they were unable to sell over the last few years because of a negative equity situation. Homeowners are now seeing a return to positive equity as real estate values have increased over the last two years. Many of these homes will be coming to the market in the near future.

The choices buyers have will continue to increase. Don’t wait until all this other inventory of homes comes to market before you sell.

3. Home Prices Are Skyrocketing

Daren Blomquist, President of RealtyTrac, recently shared insights into why “2015 is a Great Year to Sell” by saying:

"So far in 2015, [sellers] are realizing the biggest gains in home price appreciation since 2007. In June, sellers sold for above estimated market value on average for the first time in nearly two years."

One major factor driving prices up is the lack of inventory available for the amount of buyers in the market. Often buyers, who find a home that they would like to make an offer on, are met with the reality that they aren’t the only ones interested.

4. There Will Never Be a Better Time to Move-Up

If you are moving up to a larger, more expensive home, consider doing it now.

Prices are projected to appreciate by over 19.4% from now to 2019. If you are moving to a higher priced home, it will wind-up costing you more in raw dollars (both in down payment and mortgage payment) if you wait. You can also lock-in your 30-year housing expense with an interest rate near 4% right now.

Rates are projected to increase by a full percentage point over the next year according to Freddie Mac.

5. It’s Time to Move On with Your Life

Look at the reason you decided to sell in the first place and determine whether it is worth waiting. Is money more important than being with family? Is money more important than your health? Is money more important than having the freedom to go on with your life the way you think you should?

Only you know the answers to the questions above. You have the power to take back control of the situation by putting your home on the market. Perhaps, the time has come for you and your family to move on and start living the life you desire.

That is what is truly important.

Just Sold! Hope Ranch, Ocean-View Estate

Great news! Just sold 4558 Via Esperanza, listed at $5,850,000! Another win for Team Ralston and Hitchcock! Stay tuned for more exciting updates.

Referral Agent Spotlight: Roh Habibi

We’re so excited to have had the opportunity to work with Roh Habibi, our go-to referral agent for San Francisco and the new star of Bravo’s Million Dollar Listing: San Francisco! Habibi has quickly made his mark as an expert in high-end Bay Area real estate, becoming one of San Francisco's top Realtors. A dedicated professional and authority on all things luxury real-estate, Habibi is a guru when it comes to San Francisco real estate and a pleasure to work with!

Bring Shade To Your Backyard

This poolside cabana, provides total shade for tired swimmers. View more ways to bring shade to your backyard.

Home Sales Will Remain Hot This Summer

People always talk about the “spring buying season” when they talk real estate. However, this year it appears as though the summer real estate market will be just as hot.

Just Sold! 4834 Sawyer Avenue, Carpinteria CA

We are happy to have represented another wonderful client in the purchase of their ideal home! This charming townhome in beachside Carpinteria features 2 bedrooms and 2 bathrooms with a ground floor master, large loft, fantastic vaulted ceilings, gas fireplace, 2-car garage and private pool. Conveniently located in the heart of downtown and less than a mile to the beach.

Sold for $580,000