What is the Value of My Home?

What is the Value of My Home in Santa Barbara or Montecito?

We have experienced an influx of people moving to the Santa Barbara area attracted by its beauty and allure, and for those who live here, the experience and lifestyle is peaceful and idyllic.

Your thoughts may include, “What is the value of my home?”  Changes in our market have increased the desirability of homes in smaller communities, and we have experienced this tremendously in Santa Barbara.  This creates a combination of opportunities for a homeowner thinking of selling their home.  There is a lot to discuss about the potential you have with your home today, you can review a combination of choices, and discuss with your CPA to calculate tax advantages as well.  You may find yourself in an excellent position to sell in this market, and then buy back in when the timing works for you.  At the same time, an individual, couple, or a family will feel grateful to acquire your property, perhaps home school their kids, or use a bedroom as an office, and be able to feel safe during the coronavirus.

Montecito and Hope Ranch alone have had 47 closings in this month alone, when compared to 20 in this period in 2019.  (Periods of 11/12/20 to 12/12/20, and 11/12/19 to 12/12/19.)

There is a shortage of homes available to meet the demand.  As you are thinking about what is possible, there is free information available to consider your options.

Home values are often obtained from current market value and statistics.  Knowing the right value helps you decide when to sell, when to hold as an investment, what an asking price might be, and a number of other factors.  There are tools online that assist in this process which use public records, and that may give you an idea of what your home is worth, but it doesn’t replace having an evaluation and comparative market analysis from a real estate agent with years of local experience.  You want to include the uniqueness of your neighborhood, your property, architectural style, any remodeling, updating, and for your agent to share with you their inside tips on its potential positioning in the market.

Also, for your reflection, here is an article that came out today about the amazing home sales in Santa Barbara:

Wall Street Journal article, “Montecito: The Latest Pandemic Hot Spot,” https://www.wsj.com/articles/celebrities-arent-the-only-buyers-after-montecito-real-estate-11607551226

For more information and a confidential analysis of your home and value in this incredible market you can reach us at 805.252.4400.