Now is a great time to buy, and there are several reasons why...
There are 2 widely known and highly respected local real estate Economists in Santa Barbara. Both Bill Watkins and Mark Schneipp agree that the Santa Barbara real estate market will see either price stabilization or a price increase by 2nd Quater of 2009.
Excellent deals are closing right now in some of the most desirable locations within Santa Barbara. Just recently, an oceanfront home of approximately 3,100 square feet with about 273 feet of beach frontage closed at a 30% discount on its asking price.
Another amazing deal that just closed in Montecito. This is a remodeled home of approximately 5,000 square feet that just closed at a 40% discount on its original asking price.
Year to date the number of new listings of homes for sale in Santa Barbara is down from this same period last year.
The number of new homes built in Santa Barbara in 2008 is the lowest number of homes built in Santa Barbara in decades.
Fewer homes built, and fewer homes listed for sale is the precursor to a supply constraint as we near 2nd Quarter 2009 where two local Economists predict a Santa Barbara real estate turn around.
For information on homes for sale in Santa Barbara, contact Wendy Elizabeth Gragg, President, Distinctive Real Estate, 805.565.0246 or WGragg@DistinctiveRealEstateOnline.com. You can view Santa Barbara homes for sale at www.DistinctiveRealEstateOnline.com
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