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Volume30, No 2 |
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Our 30th year |
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249th Issue |
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February 2007 |
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| Spotlight on Homes becomes Prime Voyage |
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Scott Williams PRESIDENT
WILLIAMS SYSTEMS |
Brenda Williams
Realtor Associate
Melani Guevarra
Office Manager
Susana Salcedo
Transaction Coordinator
Call Us at 805 563-4031
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We have changed our name to Prime Voyage, reflecting changes in our real estate business. Who is selling and why they are selling is shifting. Many of our clients are long term homeowners, usually moving for the first time in 20 years. They loved the family home where they raised their kids. Fortunately, there are other nice homes on other nice blocks. We refer to these moving adventures as the Prime Voyage. Freeing home equity is crucial to fueling these moves. We are about connecting your home with your next adventure – your Prime Voyage.
Our business is not about a single location. Empty nesters and long time owners live in every part of town. Brenda and I tour more than 1,000 homes for sale on the South Coast every year. Seeing so many homes increases our expertise to price and market accurately to keep your home sale ahead of the competition.
We bring many other areas of expertise to our clients. Brenda is a 30 year expert in financial services and retirement planning. She provides invaluable counsel to clients approaching retirement. We offer a team of employees and consultants specialized in packing, organizing, and space planning. We provide staging services, design, and construction oversight. We give you the only free moving truck in town, and last year we were the annual sales leader for all non-Montecito based MLS agents.
We still use old fashioned postal delivery. Would you consider changing to e-mail? We’ll send you an identical e-mail version two weeks faster. We’ll only send you our newsletters, because we hate spam, too. We thank you in advance because we know it takes effort to send us your e-mail. So, to those readers who are moving over to your keyboard to save the trees, we mean it. Thank you. Send your e-mail address to Scott@PrimeVoyage.com. Brenda and I hope that you like Prime Voyage as much as you liked Spotlight on Homes. We’re here to connect your home and your next adventure.
Signs of Nearing the Bottom?
Here are some of the positive signs: 1. The threat of a rate caused recession
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ades – greater consensus it will be a soft landing, 2. The stock market is bullish, 3. The Dow Jones Real Estate Investment Trust index signals real estate recession will end soon, 4. Liquidity is high, interest rates are moving lower, and mortgage borrowing is increasing, 5. The Pending Sale Index indicates rebounding in sales activity, 6. Consumer confidence is rising, 7. “Fear and worry” media coverage is lessening. 8. Despite tough year, three new SB condo projects sold out and several others are nearing “sold out.” 9. SB Open House traffic is up, 10. Luxury homes are selling.
Realtors are the first to know when the market regains its strength. Multiple offers are the surest sign of a pick up in the market. While the downward pressure on prices has not ended, it is more likely that the market will reach its weakest and turnaround in 2007. Call for a confidential consultation on how to best make your next move.
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Call Scott to find out your property’s value. |
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RECENT CLOSED SALES |
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| Litchfield Lane |
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4/3 |
$1,895,000 |
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$1,750,000 |
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Jan ’07 |
Borton Drive
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3/3 |
1,495,000 |
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1,410,000 |
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Jan ’07 |
| Loyola Drive |
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4/2 |
1,479,000 |
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1,430,000 |
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Dec ’06 |
| Calle Linares |
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3/2.5 |
1,399,000 |
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1,250,000 |
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Dec ’06 |
| Litchfield Lane |
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4/2 |
1,295,000 |
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1,265,000 |
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Dec ’06 |
| Shoreline Drive |
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3/2.5 |
1,285,000 |
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1,285,000 |
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Jan ’07 |
| Palisades Drive |
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3/1.5 |
839,000 |
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821,000 |
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Nov ’06 |
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Las Canoas Road
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4/3 |
$3,200,000 |
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$2,550,000 |
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Dec ’06 |
| Northridge Road |
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6/6 |
2,595,000 |
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2,600,000 |
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Dec ’06 |
| Alameda Padre Serra |
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4/3 |
2,295,000 |
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2,190,000 |
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Dec’06 |
| Santa Teresita Drive |
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3/3 |
1,849,000 |
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1,849,000 |
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Dec ’06 |
| Northridge Road |
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3/2 |
1,799,000 |
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1,570,000 |
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Jan ’07 |
| Cheltenham Road |
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2/1.5 |
1,329,000 |
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1,300,000 |
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Dec ’06 |
| Kenmore Place |
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3/2 |
999,000 |
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950,000 |
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Nov ’06 |
| Cieneguitas Road (Condo) |
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3/2 |
699,000 |
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620,000 |
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Dec ’06 |
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All inquiries to Williams Systems are completely confidential. |
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Chaz is a year old exuberant neutered male Sharpei, possibly mixed with yellow lab, 50 lbs. Ready for anything: running, playing, clowning, snuggling, even learning basic obedience. A cheerful happy puppy who has the makings of a terrific family companion. He is adoptable at DAWG, a NO-KILL shelter. Call 681-0561 or visit www.sbdawg.com
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February Real Estate at a GLANCE |
After a year of including the monthly median prices I now measure prices using the 12 month weighted average. The volatility of monthly price swings produced chaos, not clarity. All other chart numbers are 30 day figures ending on Jan. 10. Including disparity between ask and sell, longer marketing time, and other factors Condos will continue to have the most vulnerability to serious price drops. Single family residence (SFR) owners are making the required price reductions and are getting closer to the list price in a shorter marketing time. In past downturns SFR did better than condos. The greater acceptance by SFR sellers of reality pricing has helped calm fearful buyers. Pricing at market encourages more buyers to write offers, because list prices are perceived as “fair.” Dropping prices is the overall trend for all homes up to at least $3M. For negotiations up to $3M - advantage to the buyer, $3M-$5M - even buyer/seller advantage, and over $5M - advantage to the seller.
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January 10 , 2007 Market Conditions |
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House
A Year
Ago
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House
A Month
Ago |
House
Jan.
2007 |
Condo
A Year
Ago |
Condo
A Month
Ago |
Condo
Jan.
2007 |
Median
(YTD)
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$1,252,000
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$1,185,000 |
$1,190,000 |
$660,000 |
$660,000 |
$650,000 |
Inventory
on Jan 10 |
351 |
457 |
417 |
150 |
197 |
164 |
Closings
Past 30 days |
66 |
69 |
76 |
33 |
34 |
19 |
| Days Until Accepted Offer |
70 |
86 |
60 |
69 |
92 |
101 |
Sales Price to List Price Ratio (%)
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96.01 |
94.06 |
95.58 |
97.64 |
95.93 |
95.51 |
Data from Santa Barbara Multiple Listing Service Jan. 10, 2007 |
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Williams Systems · Prudential California Realty · 3868 State Street · Santa Barbara · CA · 93105
www.ScottWilliams.com
If your home is currently listed, please excuse our active marketing efforts. We are not trying to solicit your listing. |
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