Macbeth Blog - Santa Ynez Valley Real Estate

Old-Fashioned Service Using Today's Technology
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David and Marlene Macbeth

July 1, 2012 - September 30, 2012 Local Market Update

Enclosed is the update of activity for July, 2012 thru September, 2012.  There were a total of  94 new listings.  There were 59 pending sales.  Of the residential sales there were 37 sales between $250,000 and $600,000, 15 sales between $601,000 and $999,999, 3 sale over $1,000,000 and 4 land sales.  There were 84 sale completes.  Their were 81 price decreases and no price increases.  The number of current listings are down at 268 listings specific to the Santa Ynez Valley.

Rates continue to fluctuate on a daily basis.  Conforming 30 year fixed rates up to $417,000 are at 3.50% at no points and Jumbo Conforming Loans which are loans up to $626,500 are at 3.635% at no points and Super Jumbo Loans which are loans up to $1,000,000 are at 4.375% at no points for origination. The Jumbo 30/5 year ARM Interest Only is at 3.125% at no points.  The 11th District Cost of Funds index (COFI) is down at 1.069 for the month of October.  The 6 month LIBOR rate is at 0.65; last month it was at 0.71; 12 months ago it was at 0.55.

The real estate market is continuing to show signs of life and this is a good thing The under 1 million dollar price range is moving well; the under $500,000 market has almost stopped but not because there are no buyer but because there are very FEW listings.  Where are prices???? Well in the lower end we are moving back in the range of 2003.  Marlene and I think the true bottom ( in hindsight) was the 4th quarter of 2011.  We had a bit of a slingshot effect at the end as we made a final dive into 2002 but we haven't remained there long and things are looking up.  Sales in the over 1 million range have also seen activity.  There have been multiple sales as sellers are realistically accepting offers from buyers who are feeling we are working our way out of a deep hole. i see good things for buyers and sellers alike.  There are LOTS of great buys out there and the home of your dreams may be just around the corner.

Its been a busy summer and early fall for the Macbeths and we are going to squeeze in a little R and R this next few weeks.  Sometimes a change of scenery invigorates us all.  Hope to see you all at Los Olivos Day in the Country and all the other great fun activities the Valley has to offer.  I have quite a few good looking trick or treaters at my house and we are going to do the town in our Darth Vader and Princess Costumes.

Be sure and check out our Website and Property Search engines.  You can still find everything available throughout the County and as far North as Paso Robles at www.MacbethRealEstate.com. Looking for Short Sales, Auctions, REO's we have access to those too through RealtyTrac and Foreclosure Radar. Have a Short Sale, facing foreclosure, call us for information.  At the very least we can provide you with the knowledge to make an informed decision.   Just give us a call and let us know what you need. 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 2012  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 and Marlene Macbeth, CDPE, CIAS, e-PRO, GRI

 

Published Tuesday, October 16, 2012 3:25 PM by David & Marlene Macbeth
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