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The HOP (Home Ownership Podcast) Episode 109: Hosted by Village Properties Realtor, David Charles Allen. David reviews the interest rates and Santa Barbara sales stats. Interest rates didn’t change too much this week; 30 – year jumbo loans are at 4.75% and 30 – year conforming loans are at 5.375%.
David discusses the trend of large hedge funds to purchase large developments of single-family homes and turn them into rental properties. He points out that this could potentially manipulate the market and promised to keep listeners posted.
In Santa Barbara last week there were 38 new listings, 19 price drops, 31 pending, and 3 listings which are coming soon. Homes that are desireable and that are priced right are still getting multiple offers, some over the asking price. Less favorable homes are having to adjust their prices or they’ll sit on the market.
Lastly, David discusses how to pick a realtor and recommends getting a recommendation from someone you trust.
You can call David at 805-617-9311 or email him at david@davidcharlesallen.com