There are always those who are skeptical about good things. I heard from them that real estate
values are in a bubble again. I think they have pent up demand and bubble mixed up.
Since the end of 2006 and the beginning of 2007 our supply of homes in our area has not grown. Finally, seven years later we see some new housing starts with the majority located in Goleta. Those homes availability have eased prices for home owners back to the high 90% from over 100% paid just last year. The supply increase has not hurt prices one bit. From Carpinteria to Goleta the median price is just shy of one million while the average price is 1.2M. Inventory is still short and just over 350 residential units from Carpinteria to Goleta, close to the all time low.
I feel like a broken record and I am thankful to still report low mortgage interest rates. The
season for home buying and selling is great!
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Broker and Past President of the Santa Barbara Multiple Listing Service and Association of Realtors