Still Low Inventory in SB!
The housing market in Santa Barbara still has a low inventory, and this means that sellers may be able to command higher prices for their properties due to demand. Santa Barbara was one of the locations that rebounded fast from the housing crisis which means the homes have retained much of their value over time. Santa Barbara is an extremely beautiful and exciting area with mild year-round weather and beautiful beaches. The area is absolutely inundated with exciting things to see and do, and is a great place for everyone from young singles to families.
Sellers should strongly consider selling their homes now before mortgage rates increase enough that the potential buyers decide not to buy. Once mortgage rates begin increasing full steam many people will decide not to enter into the market. Many California areas may also be experiencing a local bubble, which means that the rising housing prices in California right now may only be temporary. Sellers waiting to sell at a peak price may instead experience a decline in their price before they can find a suitable buyer, and this may cost them quite a lot.
For more information about the housing market in California contact Karen Spechler.