Enclosed is the update of
activity for May 1, 2010 through May 31, 2010, click here to view the updates. There were a total of
55 new listings. There were 5 pending sales. Of the residential sales there were 2
sales between $199,000 and $600,000, 2 sales between $601,000 and $999,999, 1
sale over $1,000,000. There were
21 sale completes. Their were 26
price decreases and 2 price increases.
The number of current listings are down slightly; however they are still
very high at 335 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 down at 1.791 for the month of
July. The 6 month LIBOR rate is at
0.75; last month it was at 0.66; 12 months ago it was at 1.11
Market activity is escalating
for the summer. That means that the number of inquiries and sales are
increasing. Prices are remaining relatively stable in the under $1,000,000
range but the amount of inventory over
that number is staggering.
Price adjustments for very special properties in the over 1,000,000 range could be viewed as much as 30%
and sometimes up to 40%. A very
special property would be described as immaculate with amazing amenities
including spectacular views. The good news is that it allows more buyers to
enter the market and the Santa Ynez Valley remains a wonderful place to live.
We hope you all enjoyed another phenomenal 4th of July celebration and found
connecting with your neighbors makes this place all the more special. After all, who would not to spend just
another day in Paradise.
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 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 the Santa
Ynez Valley and other areas on the
beautiful Central Coast from................
Your Real Estate Professionals
Providing
Old-Fashioned Service Using
Today's Technology
David Macbeth and Marlene Macbeth