Led by Marsha Kotlyar, this boutique team of licenced agents and marketing professionals values integrity, discretion, visionary thinking, and hard work, all driven by a passion for success. Offering local market insight, unmatched customer service, and an aggressive, hands-on marketing strategy, they deliver the dream homeownership unlike anyone else.
Marsha Kotlyar Estate Group takes the stress out of large transactions to produce a seamless process with consistent, reliable results. Beyond the numbers, their combined skill set offers their clients a unique and invaluable advantage in the complex world of real estate sales.
“My experience as a buyer with the Marsha Kotlyar Estate Group can be best characterized by this statement, “put a team of experts in place, take their advice and trust and follow their direction!!”. This market is ultra competitive with multiple offers coming in far over asking. I would not have gotten this home if it were not for their honest, straightforward knowledge. This is an example of putting a team of professionals in place, following their direction and ultimately purchasing a dream home in this insanely competitive market. As far as reports, deadlines, escrow and all that goes along with a home purchase, their team was there every step of the way. The fact that the sellers are so very happy I purchased a home they care so much about matters to me. We all live in a small community here and building relationships is important. Marsha and her team have relationships far beyond my own here. Because of their expertise I now am a part of a community that I care so deeply about. I am a homeowner in Santa Barbara because of Marsha and her team!! That alone tells the story!!”
“Marsha and the MK Group Dream Team (Allie, Brittany and Nell) are the absolute best. We are forever grateful to them for helping us find a beautiful home during a uniquely challenging time. We had very particular requirements in the midst of historically low inventory and a very competitive seller's market. Marsha & team were open, honest, and tremendously helpful during the search phase. They are incredibly plugged in to the community and always seemed to be a step ahead of the market. When the right opportunity presented itself, we needed to move quickly and Marsha's team not only matched our pace, but were trusted advisors as we navigated the process. They worked tirelessly during the offer and closing phases, and were meticulous in their attention to detail throughout. Post-closing, Marsha has continued to be an amazing friend and advocate by connecting us to wonderful people and resources in the area. We're now proud members of the community and are hugely appreciative of everything the team has done for us. Thank you, MK Group!”
“We had the pleasure of working with Marsha, Allie and team while searching for a home for our family of 5, in a crazy hot Santa Barbara market. We looked for 6 months and never found anything we even wanted to write an offer on. Then, when the right house finally came along, they were ready to help us pounce, make a strong offer and get our dream home, at what we felt was a very well-negotiated price. Marsha and team were of course great during the search process, showing us off market options and getting us in early so we could be competitive, but when it was time to make an offer, we were really impressed. We’ve worked with several realtors in various buying and selling situations, and this team absolutely sets the bar for market insights, strategic, thoughtful representation and getting results. They have also been wonderful during our contingency period and tireless in dealing with all of the minutiae of closing. We are very grateful that we met them and certain we would not have ended up with our amazing home without them. ”
“We recently worked with MK Group on the purchase of our new home in Montecito and could not be happier with the entire process. The group is truly a cohesive team with everyone adding a special value and talent throughout. Some circumstances during the process could have been considered complex and difficult, but MK Group reacted and responded in such a professional way that it was seamless, smooth and simple. MK Group helped make our entry into this coveted market and for that we cannot thank them enough. We would recommend them to anyone and everyone. ”
“When we decided to purchase a home in Santa Barbara while still living in New Jersey, my wife and I wondered how to navigate what seemed to be a logistically insurmountable task. We had no idea when we contacted Marsha Kotlyar and her team that they would make the process not only possible but enjoyable and effortless. Through every phase, from finding a property to formalizing the purchase, they couldn’t have been more professional, helpful and supportive. Upon seeing our new home and getting to meet Marsha, Allie, Brittany and Nell for the first time, we were even more certain we were in very capable hands. We are still a few years away from relocating and The Kotlyar Group continues to assist us in renting the home in the interim and is more than thorough in the stewardship of the property. We feel so fortunate to have contacted Marsha and her colleagues for the purchase of our new home and look forward to continuing to work with such a pleasant and extremely competent group.”
“Marsha and her team’s combination of warmth, tenacity and expertise made us feel beyond lucky to have found them. On multiple occasions we felt like the Kotlyar team truly went to bat for us in a uniquely difficult market and especially challenging time. Could not recommend more highly.”
“Words can't express how thankful we are to the MK group for helping us find our home in Santa Barbara. During an incredibly hot real estate market, Marsha and team were the calm we needed in the storm. As an out-of-area buyer, it was imperative to work with a group we could trust implicitly to see houses for us, understand our needs and ultimately deliver. We know the only reason we were able to secure our home with over 8 offers was because of Marsha's incredible relationships and rapport with fellow agents and her expert knowledge of every nook and cranny of the Santa Barbara market. We recommend everyone we know to contact the MK group should they be purchasing a home in the Santa Barbara or Montecito area. We look forward to working with them for all of our real estate needs in the future. Thank you Marsha, Allie and team! ”
“We bought a home in Montecito during a crazy time in the real estate market. Because of the professionalism, kindness, and experience of Marsha and her team, what could have been nerve-wracking was instead more of an adventure. The Marsha Kotlyar Estate Group is highly sought after for good reason. ”
“Big thanks to you and your team. This was my first (and hopefully only) experience selling a house in the role of trustee. But at least I didn’t need to concern myself with not being local. I appreciate all the on-the-ground support up there from you and your team. I don’t know many people in your hood, but if anyone asks I wouldn’t hesitate to recommend your group. ”
“These words don’t do justice for all that you guys did for us. We are grateful: We set out to interview a few real estate agents, and luckily, Marsha and Allie were the first ones we spoke with. A stellar team, we decided to look no further and hired them on the spot. They were patient, professional, and followed through at every step of the way in a timely manner. We were impressed with their unique combination of tenacious work ethic, experience, and approachable demeanor. We would work with them again in a heartbeat. ”
“Marsha Kotlyar and her team are a bright group that exudes confidence in their ability to handle any problem in a potential sale or purchase. It's a confidence based on a track record of success. Marsha’s personality is stamped on the team. They work for you as if they were selling their own home, and that was a new and more than pleasant experience. Smart AND Nice people.”
“Thank you and the rest of your team for a job very well done. Your advice, wisdom, and your attention to detail plus some solid teamwork and a little luck all combined to produce a great outcome for me, for Dan and for my growing family. I know we will be very happy in our new digs as we transition into a new life in Santa Barbara- mostly thanks to all of you. ”
“Marsha Kotlyer of the Berkshire Hathaway office of Montecito and her team are professional and perfectly handled all of the complexities of selling our home, especially during COVID time. Marsha has a toolbox of knowledge of the market, stagers, photographers, advertising and relationships within the industry, local, international, and online. These tools helped so much to result in two full price offers to purchase our home in Montecito. This was most important as we are living 3,000 miles away and cannot travel across the country at this time. We highly recommend the Berkshire Hathaway team and Marsha Kotlyer Estate Group to a seller or buyer who wants the very best representation. We are very happy with our choice of a realtor and the transaction. ”
“Working with Marsha, Allie, and Brittany made our family of five’s move from Los Angeles to Montecito as seamless as possible. Not only did they find us a gem of a property in a very competitive market, but guided us through the process in a supportive and assuring way. They also fostered a buyer/seller dynamic that provided a very warm welcome to our new home and community. Their local knowledge and willingness to connect us to others (schools, service providers, neighbors, etc) continues to help us thrive in Montecito today. Not to mention, we loved supporting a woman-owned and operated business!”
“We had listed our home previously with another agent and were disappointed with the number of prospects that came to see the house. We had noticed Marsha’s ad’s in various publications and moved our listing to her firm. We were surprised at the significant increase in showings, which led to a successful sale. We were very happy with our experience with Marsha and her team.”
“We arrived in Santa Barbara not really knowing much about the town or the local real estate market but knew that we wanted to move to this beautiful area and that a home here was a wise investment. We were very fortunate to meet Marsha and her team who efficiently lined up several worthwhile properties for us to consider. Within a week after starting our search, we had found a perfect home, negotiated an agreement, and entered into escrow. We felt our interests were well-represented and protected, and Marsha’s associate Allie did an excellent job with follow-up guidance—walking us through the legal documents, the inspections, and finally the closing. ”
“Within two years, Marsha sold two of my houses and helped me find my dream home. Her knowledge, professionalism, responsiveness, and excellent instincts resulted in selling both homes within a couple weeks on the market. Marsha made, what most consider a stressful process, fun, educational and a pleasure. I felt she kept my best interest in sharp focus and is extremely detail oriented which brought me great peace of mind. ”
“I became very fond of the team while looking to buy a home. They were gracious, thorough, competent, and always positive. They worked hard to find us what we were looking for and for a reduced price. I had given up but they didn’t. Marsha Kotlyar Estate Group is very on top of what’s happening and delightful to work with!”
“Marsha and her team helped us secure our dream home in a transaction we were delighted with. Her professionalism was reassuring, Marsha’s accurate read on the market was fiscally pinpoint, her guidance through the negotiations was masterful.”
“We have worked with Marsha Kotlyar in the capacity of both buyer and seller and found her to be knowledgeable, conscientious, diligent, and most importantly successful. She is a pleasure to work with and we will continue to employ her on all of our future real estate transactions.”
“Marsha Kotlyar and the team are exceptional Real Estate professionals! I was very happy to have their assistance when buying my new home. Their attention to detail and excellent negotiation skills made a huge difference in the outcome of my transaction. ”
“The experience we had with Marsha Kotlyar Estate Group was very professional and effective. Excellent Service! Great Advertising!”
“We want to let everyone whom may be looking for a Realtor or Realtor team to assist in finding their new forever home ,or selling their property LOOK NO FURTHER, The entire team at Marsha Kotlyar Estate Group were well informed, extremely professional, thoughtful and empathetic to our needs. We wanted for nothing. They worked seamlessly with and for us every step of the way. Their knowledge of the Real Estate business and their unique market was nothing less than thorough. Their recommendations, when requested or needed, were spot on. Please , whether you may be Selling or Buying do yourself the service of at least making a ‘ discovery’ appointment. You will not be disappointed. We believe you will have just found your Realtor.”
“I felt every aspect of your service was truly outstanding. I have no suggestions for improvement, which is rare for me.”
“This team is the best and we would not think about using anyone else! ”
“Marsha Kotlyar Estate Group made the purchase of our home an enjoyable experience. Not only are Marsha and her team knowledgable and honest realtors, but they are incredibly personable as well. I would recommend Marsha and her team to anyone I know!”
“Following several interviews with competing brokers in the Santa Barbara's high end residential sub-market; Marsha Kotlyar and her outstanding team including Kathleen Winter were chosen to list a beach front property in Carpinteria. I was not disappointed with my selection. Marsha and her team quickly took charge of the marketing process, assisted with property clean-up and staging and greatly enhanced the market appeal of the property. Marsha was able to quickly take the property to market. Results were the quick receipt of several offers with one being at full list price and a quick closing. The entire process was extremely smooth with a closing in less than two months from marketing commencement. If given the opportunity again, I would not refrain from retaining the skilled and experienced services of Marsha Kotlyar.”
“Working with Marsha and her team far exceeded our expectations; Marsha knows the Montecito market exceedingly well, and has an incredible team of responsive, professional and great to work with folks!”
“We appreciate that our home sale was given just as much attention as your bigger projects. We also leaned heavily on your expertise when dealing with a difficult buyer 's agent. We are grateful for your guidance and patience throughout the entire process. Your team is truly a class act and we look forward to our new home sale or purchase! ”
“We have bought and sold properties across the country since 1974 and Marsha Kotlyar and her team are the most outstanding realtors we have ever worked with. Marsha makes you feel like you are her only client, attending to every detail on both the personal and professional level, even though she is dealing with multiple multi-million dollar properties simultaneously, I think this level of care along with her list of active prospects truly sets her apart among a number of top realtors in the Santa Barbara/Montecito area. It was a pleasure for us to work with Marsha and her team and she deserves the highest possible recommendation. ”
“After our house had not sold for around five months, we retained Marsha and her team to sell the house. Marsha made a few recommendations, including some relatively minor repairs and cosmetic changes, which we did. Then they did some excellent photography and marketing. Within a few weeks, we received two offers, one of which was almost full price and the other exceeded the asking price. We then sold the house to the buyer who made the first offer. We were completely pleased by the work Marsha and her team did. They did an excellent job.”
“Marsha and her team did an outstanding job selling our home. Strict attention to details with above and beyond help made this transaction go smoothly and quickly. Marsha understands the market and what it takes to match buyers and sellers. A joy to work with...always! Thanks Marsha!!”
“Calm, classy and very knowledgeable. As an out of area real estate broker buying in an unfamiliar city, I'm very thankful to Marsha and her team for their help in navigating local real estate waters. Marsha also provided quality local resources ( inspectors, contractors) to advise me in my purchase. I'm a happy buyer and probably a better broker for my experience.”
“Marsha recently helped my husband and I with our first home purchase and it was a smooth, exciting and very satisfying experience! We were interested in finding our home for quite some time before we were actually ready to purchase, and Marsha patiently, thoughtfully and respectfully showed us many houses over the course of 1-2 years. She talked to us at great lengths about what we wanted and why, where we wanted to be, what was important to us, and she also prompted us to think about things that were not on our mind such as yard space and school districts (I was pregnant at the time) and she helped us weigh the pros and cons of doing a renovation vs. turnkey. Marsha must have taken diligent internal notes because when she showed us the house we ultimately decided on, we knew it was perfect. The sale process was quick and seamless. We felt very confident with Marsha negotiating on our behalf and her instincts proved right when she said to keep pushing or to give in. We got the house for under the asking price and finalizing the paperwork was surprisingly painless. Now months after the purchase I still reach out to Marsha now and then to ask a question such as “Do you remember how old our roof is?” or “Can you forward that list of numbers for the utility companies again?” and she is always quick to respond and never makes me feel like I am burdening her time with my post-sale requests for information. From start to finish and beyond, Marsha was not only professional and extremely knowledgeable about the market, but she also was patient, enthusiastic and thoughtful. She really cares about her clients and she does a damn good job! We will work with Marsha for any future real estate needs and would recommend her to anyone.”
“Marsha and her team are the best. We had used another realtor previously to try to sell our house but once we changed to Marsha our house sold quickly with multiple bids and over asking. All the little things she did made a big difference in a successful sale of our home. She also helped us find our new home and understood exactly what we were looking for so she could help direct us to the right homes and not waste our time looking at homes that had no appeal for us.”
“We recently had the pleasure of using Marsha Kotlyar to sell our home. We couldn’t have made a better choice. She gave us an honest appraisal of our home, recommended a superb stager (the expense was worth every penny) and created a thorough marketing plan. She gave us weekly updates on showings and the market status and was a maestro in negotiations.”
“I recently worked with Marsha on the sale of my condo in Carpinteria. From start to finish, she was great. Super friendly and totally professional. We listed, adjusted slightly, and sold within 4 weeks. I can't say enough how easy and non-stressful the process was. Excellent all the way around. Thank you, Marsha.”
“Marsha is very professional, shows great enthusiasm and great positive attitude. She is efficient, focus on your need. She makes the process very easy! Highly recommended.”
“Marsha Kotlyar is the most impressive real estate agent I have met in a long, long, time. She is not only very quick to assess your taste but also to find homes to match. Marsha is incredibly easy to work with and very responsible. I have worked with her on both purchases and sales and cannot fault her. It will be my pleasure to continue to work with her on any other transactions in the future.”
“The purchase of our home was a more complicated process than I anticipated because there were not a lot of options in Santa Barbara within our price range. Marsha' experience and extensive knowledge of the Santa Barbara real estate market, and connections proved to be incredibly helpful. She was able to show us houses before they hit the market. Marsha has strong interpersonal and communication skills that were critical when negotiating with banks and other realtors on our behalf. We ended up writing 5 offers until we purchased our home and every time she wrote an offer she impressed us with her ability to negotiate/communicate with the appropriate parties. Other qualities she posses that were instrumental in this process are her attention to details and instantaneous responsiveness. We were also impressed by Marsha's impeccable integrity and honesty. Initially, my husband and I had a hard time agreeing on which neighborhoods to live. One more time Marsha proved to be efficient. She listened and validated our concerns while trying to help us build consensus. I recommend Marsha's services without any hesitations.”
“Great service! Wonderfully efficient! Thanks Marsha!”
“I appreciate and value all of you very much! As someone coming into this with no background in residential real estate I literally learned a TON, met some amazing people and couldn’t have imagined a better team to work with. You are the shining stars of Montecito Real Estate!!”
“Super happy I picked Marsha Kotlyar Estate Group to help with this transaction. I have now both purchased and sold a house with Marsha and her team, and they delivered as promised. My house could not have been sold quicker, and I was super happy with the price realized. The team is professional, wonderful and easily contactable communicators, work well as a team, and are on top of details. Most importantly, they know how to get the job done using their knowledge and negotiating experience to maximize the potential upside yet with respect for the process. A+ for experience, industry knowledge, marketing, intuition, accessibility, and ultimately for delivery!”
“Thank you for helping us sell our home! As out of town sellers, we thought that navigating the sale of our home in Santa Barbara was going to be a challenge, but it wasn't, and we thank you for making the process a smooth one. Your team excelled at communication and was always there when we needed you. Without a doubt we look forward to working with you in the future and will recommend you to everyone we know. Thanks again! ”
“I think the world of you ladies. I meant it when I said I have never worked with better realtors. I am so very picky, and I had not one complaint. I enjoyed working with you and you made the selling of our home so easy for us, when it really was one of the hardest things I have had to go through (heart-wise). ”
“When my husband and I decided to sell our home we had the difficult decision of which local agent we would sign with, but once we met with Marsha we felt she was the perfect fit. We listed the house and sold within days. It was a pleasure working with Marsha and her team, Allie, Brittany and Nell. Whom are all professional and make the process so pleasant. I would recommend them to anyone selling or buying. ”
Sold Price: $28,000,000
We represented Buyer
Sold Price: $18,600,000
We represented Seller
Sold Price: $16,778,000
We represented Seller
Sold Price: $16,250,000
We represented Buyer
Sold Price: $15,850,000
We represented Buyer
The question I get asked most often about real estate is “How’s the market?” Our team has our finger on the pulse, and the community looks to us for insight because they’re curious, or weighing it in their decision to buy or sell.
Happy New Year! The 2021 real estate market, on a national level, had an exceptionally strong year. While home buying fell off a cliff at the onset of the pandemic in 2020, one year later, home sales in 2021 in the US reached the highest level in 15 years, with an estimated 6 million homes sold.
Every day, we’re reminded we live in paradise. Our team got together and compiled a list of our favorite local family-friendly picnic spots for your endless summer.
With beautiful weather and endless entertainment options, the holidays in Santa Barbara and Montecito are like no other. In an endless list of things to do, our team has gathered a list of our favorite November and December activities to keep you joyfully warm throughout this cheerful season.
Since 2003, Marsha Kotlyar Estate Group has specialized in premier Santa Barbara and Montecito properties. As a luxury division of Berkshire Hathaway Homeservices, our results have consistently ranked our team in the Top 10, both locally and nationally.
Family-owned and operated since 1977, Leonard Unander Associates has remained unrivaled. Backed by over 40 years of custom homes stretching across Santa Barbara, Montecito, Hope Ranch, and Santa Ynez, they transform each client’s vision into reality - exceeding expectations with confidence and ease.
The 3rd quarter 2021 statistics are in. Our local real estate market experienced the lowest inventory in history, with continued over-asking price sales and more off market deals than ever before, all contributing to rising prices in every segment of our market. In a nutshell, supply is not keeping up with the continued demand and we are seeing fewer sales.
In a flawless blend of natural beauty, San Ysidro Road and San Ysidro Lane are adorned with secluded estates that views stretch from the mountains to the sea.
The wild market continued through the 2nd quarter 2021, and as we compare the spring quarter statistics (April through June) to that of the previous year, the Santa Barbara County real estate market nearly mirrored that of the 1st quarter statistics.
Casa Blanca is in a class of its own. This classic California Spanish Colonial masterpiece approaches Montecito luxury with confidence and ease, a rare pairing that ended a lucky buyer’s search for “the one” earlier this month. Just one day after its debut, 788 San Ysidro sold for $12.6M, $1.7M over asking.
Just over a year ago, luxury buyers were looking for smaller spaces in urban settings, but a turn of events in 2020 ignited a shift in the market. “With quarantine concerns still top of mind for many luxury buyers, we see large, sprawling estates making their comeback” (Institute for Luxury Home Marketing).
Happy New Year! Here’s what we learned from 2020. A worldwide pandemic, a tumultuous election, and an economic recession did not mean we had to have a housing crisis. In fact, on a national level, the real estate market had one of the best years it’s had in decades.
2020 has been quite the year...but that won’t keep us from spreading the holiday cheer! As we face a second stay-at-home order, supporting small, local businesses is a great way to check off your wish list while keeping funds within our community. Here in Santa Barbara, we are so fortunate to have such a wide variety of artisans and small businesses at our fingertips. Here are a few ways you can support some of your favorite local vendors during this unique holiday season.
We wanted to share a worthy article published this week in the Wall Street Journal about the state of the local market and influx of buyers to Montecito. Thank you to Amanda Eberstein and Wall Street Journal for featuring me and for summarizing one of the more accurate depictions of the monumental year our local market has experienced.
Despite all the moving parts in the economy, the upcoming election, and the worldwide pandemic, housing demand for Santa Barbara County is at an all-time high, with no apparent slowdown in sight.
Take a walk around downtown, climb the courthouse tower, hike to Inspiration Point––wherever you go in Santa Barbara, you’re bound to see those quintessential white stucco walls and Terracotta rooftops dotting the horizon. We can thank famed architect Alex D’Alfonso for playing an influential role in this movement called the Spanish Colonial Revival Style dating back to the 1920s.
Gwyn Lurie, who recently acquired the Montecito Journal, is on the helm of the paper’s production and has executed many wonderful things for the newspaper and Montecito’s community. Lurie has taken on the challenge to keep local journalism alive and has dedicated the last few months of her ownership into highlighting and reflecting on our communities many accomplishments and events.
Lotusland, located in the heart of Montecito, is a stunning 37-acre estate featuring unique and diverse horticulture throughout. The botanical gardens, originally owned by fabulous Madame Ganna Walska, provide a worldly experience with an array of notable plants and landscapes.
While Real Estate has been deemed an essential business in Santa Barbara County, California's shelter-in-place order changed the way we live and do business. As a result, recent activity has stalled and the statistics were affected, but not as drastically as we would think.
What a year for local real estate! Prices went up, Buyer confidence is up, and Montecito is back! I have been tracking local real estate prices for nearly 20 years. During this cycle, home values have consistently increased since bottoming out in 2012, and this past year, average and median prices reached roughly the same levels we saw in 2007.
With the cold weather of winter, buyers are less likely to be out shopping for real estate and sellers are less likely to have their homes on the market. Surprisingly this can be a huge benefit for buyers looking to buy in the slow months. We’ve compiled a list of the benefits of buying in the winter, as opposed to the competitive spring and summer seasons.
When comparing the 3rd quarter 2018 statistics (July through September) to the previous year, South Santa Barbara County (Goleta through Carpinteria) inventory rose, number of sales declined, and on average, listings sold at 95% of their asking price, the same as last year.
Located off one of the most popular surf spots in California at Rincon beach, is an extremely rare opportunity to own a beachfront compound totaling just over 80ft of beach frontage. Nestled in the highly desired Seacliff Colony, both homes have been extensively renovated with no expenses being spared.
Memorial Day weekend is fast approaching and what better way to spend the holiday than out in the Southern California sun on one of Santa Barbara’s beautiful beaches.Hammonds Beach in Montecito is a local’s spot hidden away amongst several beachfront homes and is popular for surfing & swimming, gathering with friends or simply relaxing and enjoying the picturesque view and weather.
When you spend as much time as we do getting to know the homes of the Montecito, Santa Barbara and Hope Ranch communities, examples of historic architecture make us dream of what life was like in this area’s formative years. Today we have the exquisite pleasure of representing a classic Hope Ranch farmhouse at 4691 Via Roblada designed by Chester Carjola.
With names such as Hollyhock, Sweetbriar and Greencote, these whimsical homes and gardens seem straight out of an English fairy tale. The intriguing work of four sisters in the 1930’s and 40’s left Montecito and Santa Barbara with three dozen petite creations.
WOW, what a year nationally, locally, and for Marsha Kotlyar Real Estate Group! We reached an all time high in sold volume at $82 million, with 22 successful sales! We started the year off strong and proudly sold 9 properties totaling to $26 million in one month. To honor our favorite properties, celebrate our client's success stories, and envy those lucky buyers....we have compiled a walk through memory lane. Below are a few of our sold properties and stories from 2017!
Curious how Santa Barbara's and Montecito's real estate market performed in 2017? Nationally, a relentless inventory shortage, a booming stock market, and attractive interest rates fueled strong home buying demand. In South Santa Barbara County, housing supply remained limited, sold volume grew, and days on market grew.
When comparing the 3rd quarter 2017 statistics to the same time last year, the local real estate market experienced an overall decline in selection, bump in sales, thereby driving prices up.
What a difference a quarter can make! It seems that the post-election hangover has passed because the 2nd quarter local real estate market showed significant improvement over the disappointing 1st quarter 2017 statistics. When comparing the 2nd quarter 2017 statistics to the same time last year, the local real estate market showed a drop in supply, coupled with rising demand, thereby pushing sales activity and prices up.
Nationally, the 1st quarter real estate market was generally spirited. The South Santa Barbara County & Hope Ranch market activity experienced a rise in inventory and sales but at reduced prices. The first quarter Montecito statistics were somewhat disappointing. Even though potential wildcards like changes in tax policies and interest rate hikes lurk over any market forecast, most national economists are predicting 2017 will be another strong year and even experience improvements.
New California Ordinance That Could Affect You! Your granny could now be legal?! We wanted to make you aware that there is a new California state ordinance that will allow homeowners in California to legally have an additional dwelling unit on their property. Basically, California lawmakers felt that the housing situation wasn't adequate and new building production hasn't kept up with demand. The state passed AB 2299; the new ordinance that encourages homeowners to legally build an accessory dwelling unit (ADU) on their property (regardless of what their local jurisdictions allow).