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David and Marlene Macbeth

December 1 - January 31, 2011 Market Update

Enclosed is the update of 2months of activity for December 1, 2010 through January 31, 2011, click here to view the updates..  There were a total of  59  newlistings.  There were 46 pendingsales.  Of the residential sales therewere 35 sales between $199,000 and $600,000, 4 sales between $601,000 and$999,999, 5 sales over $1,000,000 and 2 land sale.  There were 29 sale completes.  Their were 72 price decreases and 1 priceincrease.  The number of current listingsare down slightly; however they are still very high at 296 listings specific tothe Santa Ynez Valley.

Rates continue to fluctuate ona daily basis.  Conforming 30 year fixedrates up to $417,000 are at 4.875% at .375 point and Jumbo Conforming Loanswhich are loans up to $729,750 are at 4.875% at 1 point and Super Jumbo Loansare at 5.125% at 1 points for origination. The conforming 5 /1year ARM InterestOnly is at 3.75% at 1 points, the Jumbo 5/1 year ARM Interest Only is at 3.875%at 1 point.  The 11th District Cost ofFunds index (COFI) is down at 1508 for the month of January.  The 6 month LIBOR rate is at 0.46; last monthit was at 0.46; 12 months ago it was at 0.38.                                  

2010 Sold InventoryThe chart to the left reflect Yearto Date Sales for the Santa Ynez Valley only.

2010 sales were upapproximately 16.5% from 2009 which is very good. It also reflects that theMedian Sales Price was up about 11.4% from 2009.  An increase in the Median Sales Priceindicates that there were a greater proportion of more expensive homes sold in2010 than in 2009.  Average Sales Pricedroppped about $25,000 or  almost 3%which I think indicates that prices still came down in 2010 but the dropped wasprobably more reflective of lower prices in the upper price ranges. The lowerend  property priced under $600,000  has bottomed out.

Average days on the marketagain is probably affected by the upper end price ranges as those propertieshave taken a longer time to sell.  If ,as a seller, your property is priced in that range or, as a buyer, you arelooking in that range, the market is moving more quickly.  The lower portion of the graphic indicatesthe number of properties sold in distress in comparison to the the totalproperties sold. The number of properties in distress in 2010 and 2010 wereapproximately the same percentage of the market.

Be sure and check out ourWebsite and Property Search engines.  Wehave added Lompoc area properties to the Search through their MLS and you canfind everything available throughout the County.  Looking for Short Sales and REO's. Justindicate that on the bottom field of the form and you will get the mostup-to-date list available. We may be reached during the day at our office805-688-2969, 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'sis 805-689-2738.  So whether you need tobuy or sell, call us. We would like to show you what we can do!  In the meantime we thank you again for yourloyalty and support in seeking us out when looking at properties in the Valleyand for choosing in 2010 to get your information about the Santa YnezValley  and other areas on the beautifulCentral Coast from.........

Your Real Estate ProfessionalsProviding
Old-Fashioned Service UsingToday's Technology

David Macbeth and Marlene Macbeth

Published Tuesday, February 8, 2011 4:20 PM by Marlene Macbeth
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