The Hop

Host, David Charles Allen from Village Properties: Email [email protected] or call 805-617-9311 Website: https://www.davidcharlesallen.com

The HOP (Home Ownership Podcast) Episode 126

David reviews the latest interest rates for 30-year conventional and jumbo loans and also explains what differentiates them before reviewing Santa Barbara's sales stats, The new listings rose to 36, which is encouraging--and higher than it has been in many months.

Finally, David and his co-host Patti discuss the charming 'look' of Santa Barbara--due to architectural restrictions, but the trade off is that new construction and remodels must adhere to those standards. Also, there are few empty lots to build on in Santa Barbara which limits the ability to add people to the area.

The HOP (Home Ownership Podcast) Episode 125:

With Village Properties Realtor and Host, David Charles Allen

David reviews the interest rates (which rose slightly this week), along with the Santa Barbara Real Estate Stats. This week, there were 31 new listings and 27 pending sales. In a typical market, there are 40 - 60 homes listed but even though the numbers are lower than normal, things are moving in the right direction!

Then David and Patti discussed the pros and cons of making your offer inclusive of some or all of the furniture and stories are shared about people who even offer to buy the family's pets!

You can call David at 805-817-9311 or email him at [email protected]

The HOP (Home Ownership Podcast) Episode 124: with Host, David Charles Allen

David reviews the latest interest rates and the Santa Barbara Real Estate sales statistics. There were 32 listings the week of 2/4 with 25 pending sales. In a typical market the number of new listings would be in the 40 to 60 range. Right now, houses are sitting on the market longer but the prices have remained steady.

In the Fur Baby portion of the show (toward the end of the podcast), David and Patti discussed goats being used to clear the land and David said that this is something that Ellings Park in SB has done in the past.

To contact David, send him an email at [email protected] or call him at 805-617-9311l.

https://www.davidcharlesallen.com

The HOP (Home Ownership Podcast), Episode 124

Hosted by Village Properties Realtor, David Charles Allen

Mortgage rate buydowns are on the rise as homebuyers cope with high interest rates.

David discusses the recent beautiful cool weather (with highs in the 60's) and the surf swell before turning his attention to interest rates and Santa Barbara real estate stats. Interest rates remained the same, at 5% for 30-year jumbo loans and 5.75% for 30-year conforming. There were 27 new listings last week and while there was some build up in supply, the inventory is still low—ideally there would be 50-60 new listings.

The topic he discusses today is Mortgage Rate Buydowns—which are on the rise as homebuyers deal with high interest rates. In a sense, David says, they can be thought of as a price reduction. Since the market has cooled down for sellers, many are offering concessions in the form of interest rate buydowns. For example, if the seller is willing to offer a 2-1 interest rate buydown with today's interest rate of 5.75%, the buyer's rate would go down by 2%--to 3.75% in the first year. In the second year, the rate would drop 1%--from 5,75% to 4.75 %, before returning to the original rate or 5.75 % in year three.

Learn more about the pros and cons of Mortgage Rate Buydowns in this episode of the HOP! If you have any questions, call David Charles Allen at 805-617-9311 or email [email protected]

The HOP (Home Ownership Podcast) Episode 123 Hosted by Village Properties Realtor, David Charles Allen: https://www.davidcharlesallen.com/

David Charles Allen reviews the latest interest rates and sales stats in Santa Barbara. He said it's becoming a more balanced market with location, price, and a home's condition dictating the price of a house.

Then David discusses the construction progress on the 101 widening project and how it may affect future traffic before talking with Patti about Accessory Dwelling Units (ADUs), which have become very popular in Santa Barbara. People want ADUs for a variety of reasons. They can be rented out, which is great for off-setting mortgage payments. With rentals so difficult to find in Santa Barbara, this seems like a win-win. Every home can have two ADUs: one that is detached, and a Junior ADU (which means it is attached to the main house.) Learn more about ADUs by listening to this informative episode!

Call David at 805-617-9311 or email [email protected]

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 [email protected] 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.

The HOP (Home Ownership Podcast) Episode 121

Hosted by Village Properties Realtor, David Charles Allen https://www.davidcharlesallen.com David reports that there has been plenty of rain and waves over the holidays, making the surfers happy! Typically, real estate is slow over the holidays because people are busy preparing for and celebrating the holidays. Even so, the market remained active, although the supply is a little constrained. Homes are sitting longer but if they're priced well and are without need for major renovations, they will sell fairly quickly. However, sellers need to realize that things are not selling like they did six months ago and need to temper their expectations. During the past two weeks, there were 12 new listings, 6 price changes, 27 pending sales, 27 closed sales, 4 came back on the market and 3 are coming soon. The interest rate for a 30-year jumbo loan is 5.625% and 6.375 for a 30-year conforming loan.

David and his co-host Patti are both animal lovers and give an update on the antics of their pets this holiday season. If you'd like to talk to David about real estate you can contact him at 805-617-9311 or email [email protected]

The HOP (Home Ownership Podcast) Episode 120 with Village Properties Realtor, David Charles Allen. https://www.davidcharlesallen.com

As usual, David reports on the latest interest rates and sales stats in Santa Barbara and then he and Patti discuss the pros and cons of purchasing a townhouse or condo, versus a house. To contact David, email him at [email protected] or call 805-617-9311.

HOP (Home Ownership Podcast) Episode 119

Village Properties Realtor and Host of the HOP, David Charles Allen After reviewing the interest rates and Santa Barbara Real Estate stats, David reminds listeners that different lenders can affect the terms of your loan. He says that while it's wise to call around to try to get a better rate, it's important to understand that if your credit is run repeatedly, it could ding your credit. As always, David and his co-host end the show by talking about their fur babies at home. You can contact David by emailing [email protected] or call him at 805-617-9311.

The HOP (Home Ownership Podcast) Episode 118

David Charles Allen, Host of the HOP and Village Properties Realtor: After reviewing the latest interest rates and real estate stats in Santa Barbara, David explains why high home prices and rising interest rates may inevitably lead to fewer home buyers and more renters in Santa Barbara. To contact David, email [email protected] or cal 805-617-9311. https://www.davidcharlesallen.com