Santa Barbara Real Estate versus National Real Estate News. We have all been hearing about the negative real estate news coming from the National Home Builders like Toll Brothers, Pulte Homes and DR Horton explaining that they are canceling options on land, and cutting their supply in the wake of weak housing data. It should be noted that none of these developers are building homes in Santa Barbara because Santa Barbara is too restrictive for their business model. These home builders build in mass quantity and bring a large supply of housing to the real estate markets they are in. This is the reason you are hearing the negative news. The negative news comes from real estate markets around the United States where these real estate developers have put too much housing supply into the market. The Santa Barbara real estate market is a restrictive one which means we do not have the land available nor the growth philosophy to put large numbers of new homes on the market at any given time which is why these national home builders are not in Santa Barbara .
In the Santa Barbara real estate market we are seeing a decline in available inventory. Several months ago we had a total of about 1900 properties on the market including everything ranging from $20+ million estate property down to manufactured housing. Today, there are less than 1600 properties on the market. This decline in inventory comes from two sources. First are properties going into escrow. Secondly, we are seeing sellers take their properties off the market because they are not getting the price they want. Of the 1600 properties currently available for sale, we are seeing a stalemate or tug of war between buyers and sellers. We are seeing sellers resistant to lower prices, and buyers waiting for prices to come down. The Santa Barbara real estate market is not suffering from a glut of inventory on the market. Both buyers and sellers are suffering from the stalemate. Buyers are ready to buy, many of them very strong, second home, all cash buyers. Buyers suffer from a lack of good inventory to select from. The sellers who have been on the market for a couple of months or more are holding firm on their price, and will either get it or decide not to sell. Santa Barbara is often referred to as the most idyllic and beautiful place in the world to live. Nestled along the Pacific Ocean and the Los Padres National Forest, the residents of Santa Barbara, a small oceanfront resort community, enjoy gorgeous weather all year long, clean air, incredible architecture, fragrant and colorful vegetation all year long, and in general one of the best places in the world to live. For more specific statistical Santa Barbara real estate data, contact Wendy Elizabeth Gragg, President, Distinctive Real Estate 805.453.3371or email WGragg@DistinctiveRealEstateOnline.com or log onto www.DistinctiveRealEstateOnline.com To view homes matching your specific criteria click SEARCH SANTA BARBARA REAL ESTATE. To receive new listings and recent price reductions matching your specific needs click DREAM HOME FINDER Wendy Elizabeth Gragg is Founder and President of Distinctive Real Estate, the only luxury boutique real estate firm in Santa Barbara with a focus on serving the affluent clientele with the very best service and representation. In addition to the traditional buying and selling, Distinctive Real Estate provides individualized concierge service that provides a wide array of services ranging from Estate Management, Vacation Rental and Interior Design, as well as to restaurant reservations, tee times at golf courses, and hard to get spa appointment down to filling the refrigerator with all our clients favorites upon their arrival. Affluent buyers are finding that Santa Barbara ‘s fantastic quality of life, coupled with its historically limited inventory and low growth philosophy, creates a wonderful living environment and perhaps a darn good investment strategy as well. Visit our Santa Barbara real estate website for all information related to homes for sale in Santa Barbara as well as neighborhood information and photographs throughout Santa Barbara County .
