Macbeth Blog - Santa Ynez Valley Real Estate

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David and Marlene Macbeth

April 1 - April 30, 2010 Market Update

Enclosed is the update of activity for April 1, 2010 through April 30, 2010, click here to view the updates.  There were a total of  36  new listings.  There were 21 pending sales.  Of the residential sales there were 11 sales between $199,000 and $600,000, 3 sales between $601,000 and $999,999, 7 sale over $1,000,000.  There were 16 sale completes.  Their were 40 price decreases and no price increases.  The number of current listings are up slightly; however they are still very high at 355 listings specific to the Santa Ynez Valley.

Rates continue to go up and down on a daily basis.  Conforming 30 year fixed rates up to $417,000 are at 4.75% at 1 point and Jumbo Conforming Loans which are loans up to $729,750 are at 4.75% at 1 point and Super Jumbo Loans are at 5.625% at zero points for origination. The conforming 5 year ARM Interest Only is at 3.5% at 1 point, the Jumbo 5 year ARM Interest Only is at 5.125% at zero points.  The 11th District Cost of Funds index (COFI) is up at 1.859 for the month of May.  The 6 month LIBOR rate is at 0.66; last month it was at 0.47; 12 months ago it was at 1.28.

The Economic Forecast..... we went to yet another one several weeks ago. We loved the speaker from Beacon Economics in Orange County.  He had an interesting view..... Trends and Fundamentals... and it made sense considering all the conflicting information that we hear on a daily basis.  He indicated that the trend we are on right now is good.  With all the government programs, low interest rates, reduction in inventories and pent up demand, the economy and the real estate market looked to be stabilizing and the number of sales was increasing as buyers started to buy the properties that sellers are now willing to sell at the price that buyers are willing to buy.  The problem  he was concerned with was the the underlying problems that caused the Recession in the first place do not appear to have changed.  We still have a huge deficit, we still have major unemployment, we are still not saving enough money as individuals (it's better but still not enough). He felt we were walking a narrow tightrope out of the recovery but everyone must be careful of any missteps.  Items specific to the Santa Ynez Valley were unfortunately not as prominent in this presentation because funding for this forecast has been impacted.  So I am  going to make a few of my own prognostications.  I really do feel we are coming out of  recession. There are lots of buyers out there looking.  Some of them are reluctant to pull the trigger and write an offer but that trend is changing.  I do not feel that home prices are going to escalate rapidly as they did in 1998-2006 and it may be 5 years, even 10 years before we see a return to what we lost.  I do believe it will come back. The Santa Ynez Valley remains a great place to live; we have perfect weather, low crime, and nice neighbors, we are relatively uncongested and great schools, one of which is our high school which posted the highest API  scores in the County.  Way to go PIRATES!!!!

Be sure and check out our Website and Property Search engines.  We have added Lompoc area properties to the Search through their MLS and you can find everything available throughout the County.  Looking for Short Sales and REO's. Just indicate that on the bottom field of the form and you will get the most up-to-date list available.  We are still working on updating the email and contact information but we are almost finished and some of you as requested will be receiving your updates via email. We decided to mail it again this time as we have a new promotional item - a bookmark. We are not at the "Kindle-stage" yet... not everything should be electronic but who knows.  I think we did it because we both like to read and we LOVE  the poem.  It sums up how we feel about living in Santa Ynez. Valley...truly blessed.  If we do not have your current information on file, please send us an email with that information.  We will be continuing to update our contact list by phone so you may receive a call from us or our assistant who is helping with this task. We may be reached during the day at our office 805-688-2969, and in the evening at 805-688-2986.  Our toll-free number is 1-800-300-7977.  My cell phone is 805-689-4178 and Marlene's is 805-689-2738.  So whether you need to buy or sell, call us. We would like to show you what we can do!  In the meantime we thank you again for your loyalty and support in seeking us out when looking at properties in the Valley and for choosing in 2010 to get your information about Santa Ynez Valley real estate from................

Your Real Estate Professionals Providing
Old-Fashioned Service Using Today's Technology
David Macbeth and Marlene Macbeth

Published Tuesday, June 1, 2010 9:38 AM by Marlene Macbeth
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