Is the Real Estate Market Really Poised for a Crash?

Dear Friends, The media has been stating that the real estate market may be headed for a crash because sales have slowed. Not True! In fact, The California real estate market is as robust as ever, and purchasing a home remains one of the greatest investments you can make. Here are the facts: A 7% drop in total Single Family Residence between June 2017 (443,000 SFRs sold) and June 2018 (411,000 SFRs sold) prompted sectors of the mass media to proclaim the beginning of a crash. In fact, it has merely been a return to average sales volume (~405,000 SFRs) from a particularly busy 2017, largely due to a lack of inventory in 2018. This is not indicative of a crash. Average home price has incre

Nobel-Prize Winning Economists Share 4 Ways to Set Yourself Up for Success

You may not know him, but Richard Thaler knows a lot about your relationship with money. That's because the professor and author of the best-selling book “Nudge” was awarded the Nobel Prize last October for his contributions to the field of behavioral economics—essentially, the study of how and why we make real-life financial decisions. A lot of behavioral economists’ research centers around the fact that we’re pretty much hard-wired to go against sound economic reasoning and to make a big mess of our finances (you know, like panic-selling when the market drops or blowing an entire bonus instead of saving some). But we’re not doomed to failure. We can use what they’ve learned about how our b

How to Maximize Your Credit Score -- Quick!

A stellar credit score is crucial when it comes time to garner a loan for home purchase. Here are some easy things you can do to ensure yours stays at a healthy level: Credit cards you currently have: Look at your credit card limit, and subtract 70% of the limit amount. Never charge greater than this amount. This will equal 30%. If no current active credit cards in the last 6 months: Apply for 2 secured credit cards as soon as possible. Remember, once these new cards are opened, your score will drop for for 6-12 months. But, it is better to drop your score now than wait until it is too late. If you have open credit cards with zero balances and have not charged it for more than 6 months,

City Council Supports New Santa Barbara Local Coastal Plan

The Santa Barbara City Council on Tuesday unanimously approved a blueprint for development in Santa Barbara's coastal zone. The council voted 6-0, with Randy Rowse absent because he owns property in the coastal zone, to support a new Local Coastal Program land-use plan. “This is an extraordinary moment,” Councilman Gregg Hart said. “Nothing that is this worthwhile is ever easy.” City planners spent several years drafting a new plan to overhaul one that was originally approved in 1986. The document focuses on protection and the balanced use of coastal resources, along with maximizing public access to the coast. Most of Tuesday's discussion focused on the types of private development that wou

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© 2020 Spann & Associates Real Estate

All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdraw without notice. This is not intended to solicit property already listed.​

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