Beautifully Updated Home in the Mountain View Attendance Area!

I am excited to tell you about my new listing in the Mountain
View School attendance area: 909 N. Patterson Avenue.  Very well
priced at $849,000, this beautifully updated home on a large,
corner lot boasts new Pella sliders and windows, a dining room
addition, a comfortable family room with access to the rear yard,
and a spacious master suite with remodeled bath, walk-in closet,
and an office with front patio access.  The tropical-themed yard
has been professionally landscaped, and the private rear yard
offers nice mountain views and a new patio – perfect for
entertaining.

For a full photo tour and property details please visit www.909NorthPatterson.com.
If you would like to see this property, call Kelly at 895-4406 for an appointment.

Santa Barbara Real Estate Statistics for December 2009

Here are the CORT Report documents for December 2009:

South County Sales Summary – Includes Year to Date

South County Sales – Broken out by Address and Area

Here is the December CORT data organized by area.  In addition to the December data, we have included a year-to-date comparison for all years since 2004.  Please note that the attached reports summarize the sales of single family residences, condos and residential income 2-4 units.  Larger residential units (5+ units) and commercial properties are excluded.  We hope you find this information useful!

If you have any questions about the data you see, or need further assistance in this area, please contact Kelly Knight – 805.895.4406

New Property Pick of the Week

With the holidays over, it’s time to start looking at some of the great deals offered by the current market. Low prices and low interest rates make this a great time to buy a home! We like this new offering in Rancho San Antonio, listed for $1,395,000: newer home constructed in 1991 on over 1 acre in a great school district. If you are interested in seeing this home, please give Kelly Knight a call at 805-895-4406.

Follow this link to see the page:

http://www.flexmls.com/link.html?rdr3r98d9ml,1,1

This link will no longer be available after 2/11/2010.

Santa Barbara county real estate sales are up over 80% in November.

Home sales in our area are up almost 80% over November 2008, according to CORT (Computer Oriented Real Estate Technology), which reports all sales of single family homes in Santa Barbara County. If you have any questions about this information or what it may mean to you, please give Kelly a call at (805) 895-4406.

Some Positive Real Estate News!

California median price rises 5.8 percent in November

According to a report released yesterday by the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.), home sales in California increased 4.7 percent in November compared with the same period a year ago, while the median price of an existing home rose 5.8 percent. “First-time buyers continued to drive the market in November, as many opened escrow to take advantage of the federal tax credit prior to its original Nov. 30 expiration,” said C.A.R. President Steve Goddard. “The extension and expansion of the tax credit until April 30, 2010, along with low interest rates, should continue to positively impact the market in coming months.”

The median price of an existing, single-family detached home in California during November 2009 was $304,520, a 5.8 percent increase from the revised $287,880 median for November 2008, C.A.R. reported. The November 2009 median price rose 2.4 percent compared with October’s $297,500 median price.
The median home price in California has risen nine consecutive months in month-to-month comparisons, but November marked the first time California’s median home price has risen in year-to-year comparisons since August 2007.

Santa Barbara Real Estate Statistics for November 2009

Here are the CORT Report documents for November 2009:

South County Sales Summary – Includes Year to Date

South County Sales – Broken out by Address and Area

If you have any questions about the data you see, or need further assistance in this area, please contact Kelly Knight – 805.895.4406

Santa Barbara Real Estate Statistics for October 2009

Here are the CORT Report documents for October 2009:

South County Sales Summary – Includes Year to Date

South County Sales – Broken out by Address and Area

If you have any questions about the data you see, or need further assistance in this area, please contact Kelly Knight – 805.895.4406

Extended Tax Credit Info…

Homebuyer Tax Credit Extended and Expanded!
Last week, a new Homebuyers Tax Credit bill was signed into law. The bill extends the tax credit for first-time homebuyers (FTHBs), as well as opens it up to current homeowners who are looking to buy. And even if you aren’t looking to purchase – pass on this article to anyone you think might be in the market to do so. This is information that might benefit them greatly, and I’ll be happy to be of service to them.
Here is a brief overview of the Homebuyers Tax Credit – and its benefits – based on the new bill.
Tax Credit for First-Time Homebuyers
FTHBs (that is, people who have not owned a home within the last three years) may be eligible for the tax credit. The credit for FTHBs is 10% of the purchase price of the home, with a maximum available credit of $8,000.
Single taxpayers and married couples filing a joint return may qualify for the full tax credit amount.
Tax Credit for Current Homeowners
The tax credit program now gives those who already own a residence some additional reasons to move to a new home. This incentive comes in the form of a tax credit of up to $6,500 for qualified purchasers who have owned and occupied a primary residence for a period of five consecutive years during the last eight years.
Single taxpayers and married couples filing a joint return may qualify for the full tax credit amount.
What are the New Deadlines?
In order to qualify for the credit, all contracts need to be in effect no later than April 30, 2010 and close no later than June 30, 2010. Those in the military do have some special extensions on the timelines available.
What’s So Great About a “Tax Credit”?
The benefit of a tax credit is that it’s a dollar-for-dollar benefit, rather than a “tax deduction”, or reduction in a tax liability that would only save you $1,000 to $1,500 when all was said and done. So, if a first-time homebuyer who qualified for the entire benefit were to owe $8,000 in income taxes and would qualify for a tax credit of $8,000, she would owe nothing.
Better still, the tax credit is refundable, which means the homebuyer can receive a check for the credit if he or she has little or no income tax liability. For example, if a first-time homebuyer is eligible for a tax credit of $8,000 but is liable for $4,000 in income tax, she can still receive a check for the remaining $4,000!
Higher Income Caps
The amount of income someone can earn and qualify for the full amount of the credit has been increased.
Single tax filers who earn up to $125,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, single filers who earn $145,000 and above are ineligible.
Joint filers who earn up to $225,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, joint filers who earn $245,000 and above are ineligible.
Maximum Purchase Price
Qualifying buyers may purchase a property with a maximum sales price of $800,000.
Remember, the new tax credit program includes a number of details and qualifications. Call or email today if you have questions or would like to see if you can benefit from the tax credit…and email this article along to anyone else you feel it might benefit as well!

New Listing 516 Alameda Padre Serra – SOLD in 1 day.

Behind the rustic green gate sits a magical Tuscan retreat bursting with color and drenched in sunlight. This enchanting property with inspiring ocean, city & harbor views boasts a whimsical remodeled kitchen, two bedrooms with en suite baths on the lower level, and a spacious master suite with Juliet balcony overlooking the captivating, terraced rear garden. A ”must see” to appreciate.

Offered at $1,349,000

Visit www.516alamedapadreserra.com for details and a full photo tour.

Looking for a Good Investment?

If you are looking for an attractive residential income property or a duplex that is well-suited for owner use, 2526 Banner Avenue in Summerland may be the answer.  Situated at the far east end of the street with jaw-dropping ocean and island views, this duplex features two units, each with 2 bedrooms and 1.5 baths.  Other features include vaulted ceiling, fireplace, view deck, laundry hook-up and a 2-car garage under each unit.  The property is currently renting out at $4,400/mo. ($2,200 per unit).  This is an estate sale and should attract a good deal of interest.  Listed at $849,000.

If you are interested in viewing this property or other residential income properties, please give Kelly a call at 805.895.4406.