Author: News Feed

If you’re thinking about selling your house, here’s something you really need to know. Even though it’s still a seller’s market today, you can’t pick just any price for your listing. While home prices are still appreciating in most areas, they’re climbing at a slower pace because higher mortgage rates are putting a squeeze on buyer demand. At the same time, the supply of homes for sale is growing. That means buyers have more options and your house may not stand out as much, if it’s not priced right. Those two factors combined are why the asking price you set…

Santa Barbara, California – Published 3/1/2023 Lower State Street in Santa Barbara has been hit hard by what some real estate leaders call a large number of vacancies. It’s quiet on lower State Street in Santa Barbara. It’s too quiet. Times are tough for what for years was one of the city’s most popular retail, restaurant, and entertainment zones of the city. Steve Brown is Principal for Radius Commercial Real Estate, which represents a number of properties in Santa Barbara County. Brown said there have been a number of vacancies from the 400 to 1200 block of State Street, an…

In life, patience is a virtue – but in the world of homebuying, waiting too long in hopes of finding the perfect home actually isn’t wise. That’s because the pursuit of perfection comes at a cost. And in this case, that cost may be delaying your dream of homeownership. As Bankrate explains: “One of the most common first-time homebuyer mistakes is looking for a home that checks each of your boxes. Looking for perfection can narrow your choices and lead you to pass over good, suitable options for starter homes in the hopes that something better will come along.” The…

 If you’re thinking about selling your house, you should know there are buyers who are ready and able to pay today’s high prices. But they want a home that’s move-in ready. A recent press release from Redfin explains: “Buyers are still out there and they’re willing to pay today’s high prices, but only if the house is in really good shape. They don’t want to spend extra money on paint or new appliances.” It makes sense when you think about it. They’re having to pay a lot of money for a house in today’s market. That means they may not…

Updated with bidding of Tuesday-Thursday, Oct. 1-3. For the 34th time, the auction for Laguna Niguel’s iconic Ziggurat goes on thanks to another last-moment bid. With 13 minutes left in the auction on Thursday, Oct. 3, the General Services Administration auction site shows “Bidder #02” increased the price by the minimum $300,000 increment for the pyramid-shaped Chet Holifield Federal Building and surrounding land that’s no longer needed by the federal government. “Bidder #01” quickly countered with a similar price hike. Here’s what you need to know about the online auction that began June 5 for a prime south Orange County…

As someone who’s thinking about buying or selling a home, you’re probably paying close attention to mortgage rates – and wondering what’s ahead. One thing that can affect mortgage rates is the Federal Funds Rate, which influences how much it costs banks to borrow money from each other. While the Federal Reserve (the Fed) doesn’t directly control mortgage rates, they do control the Federal Funds Rate. The relationship between the two is why people have been watching closely to see when the Fed might lower the Federal Funds Rate. Whenever they do, that’ll put downward pressure on mortgage rates. The…

Santa Barbara, California – Published 3/3/2023 The future of downtown housing may be staring right at the city of Santa Barbara in plain sight. The closed Macy’s on the corner of Ortega and State Street and the closed Nordstrom on the corner of Canon Perdido and Chapala Street are available with multiple floors of empty space. Macy’s closed in 2017 and the Nordstrom closed in June of 2020. Analysts have suggested releasing for retail, creating a mixed use space, converting to entertainment, or turning it into anything from luxury to workforce housing. A principal with the Radius Group, Gene Deering, spoke…

The housing market is going through a transition. Higher mortgage rates are causing more moderate buyer activity at the same time the supply of homes for sale is growing. And if you aren’t working with an agent, you may not realize that. Here’s the downside. If you’re not informed, you can’t adjust your strategy or expectations to today’s market. And that can lead to a number of costly mistakes. Here’s a look at some of the most common ones – and how an agent will help you avoid them when you sell.  1. Overpricing Your House Many sellers set their…

Mortgage rates have been one of the hottest topics in the housing market lately because of their impact on affordability. And if you’re someone who’s looking to make a move, you’ve probably been waiting eagerly for rates to come down for that very reason. Well, if the past few weeks are any indication, you may be getting your wish. Mortgage Rates Trend Down in Recent Weeks There’s big news for mortgage rates. After the latest reports on the economy, inflation, the unemployment rate, and the Federal Reserve’s recent comments, mortgage rates started dropping a bit. And according to Freddie Mac,…

The auction of an iconic California office campus entered its fifth month due to an odd selling process that essentially gives participants control of the deadline. The federal government’s exit from the eye-catching Chet Holifield Federal Building – better known as the “Ziggurat” – began June 5. The initial auction deadline for the building plus 89 acres in Laguna Niguel was July 31, but it came with a big “but” in the rules. You see, this auction run by the General Services Administration has a “soft close” – if the high price is topped in a 24-hour period, the auction…