Real Estate Update | April 2020

real-estate-market-report-apr2020Here’s a snapshot of the real estate market in Santa Barbara County for the month of April 2020. Enjoy and check back soon for the May 2020 update.

Click here to view the full report >>

Santa Barbara Mountain Retreat

Santa Barbara Mountain Retreat

Set within the spectacular Santa Ynez Mountains above Santa Barbara with views that are out of this world, the Painted Cave community is home to an eclectic mixture of rustic cabins, large ranches and grand retreats. Named after the nearby historic Painted Cave Park – a treasured archeological site – the community attracts those seeking a peaceful lifestyle that is close to nature and away from distraction and routine, while still convenient to shopping, restaurants and the area’s top schools.

Located along the community’s main road, this custom-built contemporary home boasts organic materials combined with ample natural light and expansive outdoor living spaces that complement and merge with the native landscape. Thoughtfully designed to feature a dramatic vaulted ceiling, the open kitchen/dining area flows seamlessly into the living room. Glass doors welcome you onto a spacious deck – perfect for morning coffee or alfresco dining while enjoying stunning sunset views. The en suite master bedroom is located on the main floor and includes a private deck overlooking sandstone boulders and mature oak trees. Two additional bedrooms and a separate full bath are located on the ground floor with access to a large covered patio. A laundry area and basement providing ample storage complete the offering.

Set at approximately 2,800 feet, one can enjoy warm summer evenings sipping a beverage on the deck or cool winter days by the wood burning stove watching an occasional snowfall dust the ground. The property is situated just 15 minutes from Hwy 101 and 25 minutes from downtown Santa Barbara and Santa Ynez, and offers easy access to several popular hiking and biking trails, as well as area wine tasting, Lake Cachuma recreating and much more. Located within the Mountain View Elementary School attendance area, this offering is truly a rare find.

For more information visit www.2776manzanita.com.

Turn-key Woodside Condo

Turn-key Woodside Condo

This premier top-floor residence in the desirable Woodside development offers the quintessential Santa Barbara lifestyle. Tucked away in a separate detached building with a superb end-unit location, the condo boasts contemporary styling combined with expansive mountain and city views.

The formal entry leads to a well-appointed kitchen and a spacious living and dining area accented by a dramatic beamed cathedral ceiling. New engineered wood flooring compliments the stunning built-in bookcase, while glass doors welcome you onto the private deck nestled up against open space and foliage. The deck is equally accessible from the impressive master suite, which features a vaulted ceiling and stunning mountain views. Two additional bedrooms, a second full bath, in-unit laundry, and two single car garages with ample storage complete the offering. Conveniently located close to West Beach, the Funk Zone, SBCC and the harbor, this turn-key residence is a rare find.

For more information visit www.laderastreetcondo.com

Special Report: The Two Month Real Estate Market Snapshot (and a sweet success story)

The Santa Barbara Association of Realtors (SBAOR) just issued a two-month market recap to appease those of us who are clutching the edges of our seats and dying to know how the residential market is shaking out. SBAOR compared market activity between March 1st and April 30th to the same period in 2019. We must say, the news is better than we expected. And for those of you who are true real estate aficionados, we’re including a COVID-sale success story that will warm your heart.

Coronavirus-2-month-statsv2

Our interpretation: As we move into May we’re seeing more and more homes come on the market. In fact, the number of new or “coming soon” listings have doubled in the past week. Some are brand new inventory; some are relists by concerned sellers who withdrew their properties from the market in March. While we are still not at the inventory levels we normally are at this time, it appears that consumer confidence is on the rise as sellers gingerly step back into the market.

The same is true with buyer activity. While pending sales are about half of what they normally are at this time, there is pent-up demand in this low-inventory market. Our success story offers a case in point.

Selling during COVID – A success story
*Warning – the story you’re about to read includes a bit of horn-tooting but heck, we think we deserve it!

Becky Davis found herself needing to sell her mother’s darling Eastside home shortly after the Governor issued California’s SIP order. We were hired to help. Thankfully, residential real estate was declared an essential service by mid-March, but many important questions remained: How do we safely prepare a 100-year old home for sale? How do we market it to interested buyers while following CDC, state and local guidelines? How do we do our part to flatten the curve while serving our client’s best interest?

With the help of VP Assist – Village Properties’ concierge home improvement service powered by Zoom Casa – we slowly arrived at answers to our questions. Zoom Casa assigned a project manager to safely oversee necessary property renovations while keeping us virtually informed of their progress. In less than 2-weeks the home and yard were transformed from tired and overgrown, to fresh and full of potential.

before-after

Next, our group invested in high-impact professional photography and a 3D virtual walk-through using state-of-the-art Matterport technology. This technology allowed us to create a digital twin of the home so that buyers could view it virtually from multiple angles and get accurate measurements before requesting an in-person tour. We believed this transparency was good for everyone. We were right.

matterport

Within days of launching the listing through multiple real estate channels, Becky found herself reviewing 6 offers from eager and deserving buyers, many of whom were willing to pay over asking price. Before she made her decision, a 7th offer was presented with terms she couldn’t refuse: full asking price; all cash purchase; no buyer contingencies; and a 5-day closing. Becky found herself closing escrow and celebrating her 50th birthday all in the same week.

beckyWe often say that we are in the business of selling dreams. This sale was certainly a dream come true for Becky, and a feather in the cap for the Knight Real Estate Group. The property was safely prepared for market, advertised, shown and sold within 6 weeks of signing the listing, and all during the COVID pandemic.

If you are interested in learning more about how we created a great selling experience for Becky, give us a call. Until then, stay safe and stay healthy.