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Santa Barbara Real Estate Statistics for February 2010

Here are the CORT Report documents for February 2010:

South County Sales Summary

South County Sales – Broken out by Address and Area

Here is the February 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

Santa Barbara Real Estate Statistics for January 2010

Here are the CORT Report documents for January 2010:

South County Sales Summary

South County Sales – Broken out by Address and Area

Here is the January 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

575 Mountain Drive: Private & Serene Retreat

Set on 1.2 park-like acres close to the Sheffield Open Space, this updated 1940’s rustic-contemporary 4 bed/3 bath home is nestled amid sprawling flat lawns, sandstone boulders, giant agaves, mature oaks, pine trees, palms and other native landscaping. Southwest facing, the home features an open floor plan and large, sunny rooms that flow seamlessly to an expansive flagstone patio with a soothing fountain and beautiful mountain views – perfect for indoor/outdoor living. This is a unique and private sanctuary for those looking for a peaceful and serene retreat environment that features nature at its best.

The property is located in the Roosevelt Elementary attendance area, and includes an orchard, vegetable garden with raised beds, and newer detached shed. The entry is gated and the property is completely fenced. Zoning allows for horses. Extremely well-priced at $1.495 million, this is a magical property that will create memories for a lifetime!

Visit www.575Mountain.com for more information.

California Enacts Tax Credit

California Passes Large Tax Credit
for Homebuyers

California has initiated its own homebuyer tax credit. The credit is for 5% of the purchase price, with a maximum credit of $10,000. That’s a dollar-for-dollar reduction against income tax payments that would otherwise be due. Homebuyers must claim the tax credit in equal installments over three consecutive years, beginning with the year of purchase. Purchasers are required to live in the home as their primary residence for two years or forfeit the credit.
To be eligible, first-time homebuyers can purchase a new or existing home. Repeat or move-up homebuyers are eligible for the credit only if they buy a new home.
Buyers of existing homes must close escrow between May 1 and December 31, 2010. The credit is available to buyers of new homes who sign purchase agreements between May 1 and December 31, and close escrow by August 1, 2011.
Separate from the California tax credit is the federal tax credit. The federal homebuyer tax credit will expire soon. If your clients want to take advantage of this tax credit, they must act fast. The tax credit is available to buyers who sign purchase agreements on a new or existing primary residence home between December 1, 2009, and April 30, 2010. Buyers have until June 30 to close the mortgage loan on their new home.
If you have any questions about how the California or federal tax credit may benefit your clients, please call me today. 805.895.4406