Santa Barbara Real Estate Statistics for March 2009

There are three documents this month:

South County Sales Summary

South County Sales – YTD Through March

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 Michael Day – 805.451.4433

Property Pick of the Week – 111 Arroqui Street

This George Washington Smith home in Montecito has officially become a best buy.  It is 8000 sq. ft. with 7 bedrooms and 7 baths on a gated, manicured 1.6 acres.  The home has been elegantly and painstakingly restored.  It is now being offered at $3,995,000 after a $1,045,000 price reduction this weekend.  If you would like more information regarding this property, or other Montecito or Santa Barbara best buys,  please contact Michael Day (805.451.4433) or Kelly Knight (805.895.4406).

Conforming Loan Limit Increased to $729,750!

After months of waiting and anticipation, a new “jumbo” conforming loan limit for Santa Barbara County has been announced: $729,750.00.  In the recent past, conforming loan product had been limited to $603,750.00.  For borrows hoping to take advantage of the Buyer’s Market, the new, increased limit will make it easier, and cheaper, for many people to attain their goal of homeownership.

If you would like to speak with a reputable lender, please contact us and we would be happy to refer you to several that we work with frequently.  If you have questions about how the increased conforming loan limit can help you purchase a new house, call us for a confidential consultation.

Kelly – 805.895.4406, Mike 805.451.44433

Property Pick of the Week – 2255 Las Tunas

2255 Las Tunas is listed at $1,095,000 on a prestigous Upper Riveria street where the house accross the street recently closed at $3.4 million and the house two doors away closed at $2.45 million.  If  you believe in the tried and true real estate adage that you always want to buy the least expensive house on the nicest street, then this property is for you.  The house itself is 3 bedrooms and 2 baths with a square footage of 1704 (per county tax records).   It is conviently located a few house up from Marymount School, and is a quick drive to downtown Santa Barbara.

Property Pick of the Week – 1525 Las Canoas IN ESCROW

1525 Las Canoas is a lot of house for the money:  There is a 4 bedroom 3.5 bath main house, with a 1 bedroom, 1 bath guest house as well as a seperate office.  The lot is 1.33 acres with a gated private drive and plenty of space for animals, kids, a garden, fruit trees etc.  This section of Las Canoas is accessed from West Mountain Drive, and is an easy 3-4 minute drive from the Mission, Roosevelt School, Marymount and the Tennis Club of Santa Barbara.  You are also a few minutes walk from Parma Park, ideal for hiking, walking your dog, or just sitting and watching the paragliders ride the thermals…

Offer Price is &1,895,000