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David Charles Allen (https://www.davidcharlesallen.com) reviews Santa Barbara’s real estate in 2022. The first half of the year was a hot, hot market for sellers. Inventory was very low; often there were only 150 – 200 properties for sale. There were multiple offers, often over the asking price, on just about any property. Interest rates shot up and down throughout the year and at times were in the 3-4 % range.
In contrast, 30-year conforming loans now have an interest rate of 5.875% and 30-year jumbo loans have an interest rate of 5.125%. There are currently 300 homes for sale on the market which is still low—but almost double what was available at any given time throughout much of 2022. David believes that we are returning to a more balanced market. He’s not making predictions but urges people to look at what’s most important to them, what they believe will happen to our economy, and how it would affect their home purchase. If you’d like to discuss your options, David invites you to email him at david@davidcharlesallen.com or call him at 805-617-9311.
Lastly, in the Fur Babies at Home section, David and Patti discuss an article sent by a viewer which outlines the changing popularity of various dog breeds.