Mesa Market Mojo Report – May 2017: Missing Out on New. It’s An Easy Mistake.

Aren’t new houses more expensive than older homes? That is the common wisdom. What if a new home was a better buy than a used one? Imagine. A new home with everything working perfectly may indeed be a better buy than an older home that needs repairs. We are so used to older homes with all of their issues.

I’m attracted to new houses. There are a couple of new subdivisions in town that I find interesting. Let’s take a look at what has cropped up in Santa Barbara and Goleta.

The first to mention is the mammoth 40 acre project with 233 new houses and condos called The Village at Los Carneros. It is just off the freeway on Los Carneros. This could be a perfect place to live if you work in tech in Goleta, or at the university, or even in Santa Barbara. They are half way through the construction phase with nearly half of the units sold. Beautiful models are available to tour.

I admit it. I like model homes. I’m schooled in staging homes, and nothing talks staging like a model home. They make a home look like a Hollywood set. The colors are happening; they look so attractive. And while this project is close to the freeway, they have picked the best windows to block the sound.

And they are reasonable. Prices range from the $600,000’s for condos to $1.1 million for one of the model home single family residences. Streamers and advertising signs lead you to the project. Better still, give me a call and I will tour you through. The builder allows any agent to sell a home here. There’s no different in price, so let me help you. The subdivision features adult and kiddie pools, bocce ball court, a half-court basketball, spa, clubhouse, and park. Monthly fees range from $170 to $280 per month.

With half sold are there still any good buys? Absolutely. However, with each phase released by the builder, the prices creep up. There are advantages to being in the first wave of buyers. But good buys happen all along the sales path. Some people drop out of their  escrows, presenting buying opportunities.

The second subdivision is called the Tree Farm. It’s the old Caveletto Christmas tree farm off Patterson Avenue on the mountain side of the freeway. The 26 acres will include 77 single family homes, 30 town homes and 24 affordable condos. Here the waiting list is just getting started, so there is time to pick out a place and get a lower price. Some people will remember the major power lines that crossed the land. Those will go underground. Again, let me be your guide. They have asked the local agents, like me, to bring customers to the project.

The extras include a park, trails, pool, spa, and a fitness center. The Caveletto Clubhouse, an old barn, is a multi-purpose entertaining space that includes picnic tables and barbeques. The residences are located in the sought-after Kellogg School attendance area. Costs range from $800,000’s for 1,700 SF condos, to $900,000’s for houses, to twice that amount of money for the top-of-the-line 3,900 SF luxury homes. Depending upon the home or condo chosen, fees range from $178 to $456 per month.

Does your future include a new home for yourself, or as investment? Some of the best appreciation of the past five years has been in new houses. Some subdivisions had a 15 percent pop in price above the initial purchase, as homes resold only a year after they were purchased. For photos of these sites check out my website,  www.ScottWilliams.com. For a tour call me at 805 451-9300.

Who Says There is No Free Lunch?

I love to hear from my readers! To encourage you to write to me, I am holding a twice yearly raffle for lunch. To enter, send me an e-mail, scott@scottwilliams.com, tell me a little about yourself, ask me a real estate question or make a comment. Or tell me what you would like to read about in the newsletter. I will put your name in the hat and draw one every June and January. If you win, my wife and I will take you to lunch.

A Santa Barbara Realtor for close to 40 years, Scott Williams is known for exceptional service, dedication, and integrity. Since 1978, he has helped more than 730 clients to buy or sell their homes in the Santa Barbara area.

He received the Berkshire Hathaway Legend Award, for ranking among the company’s top two percent of realtors across the nation, for ten consecutive years. Currently Scott ranks in the company’s top one percent in sales nationally.

His enthusiasm and strong work ethic keep him ahead of the game, yet his thoughtful, low-pressure approach puts clients at ease.

Extensive knowledge of local, state, and national real estate trends gives Scott a powerful edge in negotiations. He excels at marketing and knows how to prepare and promote homes to sell for top dollar. He works tirelessly to deliver the sale.

A top Realtor in The Mesa, Scott sells homes across Santa Barbara, including Montecito and Hope Ranch. If you are shopping for a Santa Barbara home, or looking for an outstanding agent to sell your home, give Scott a call.