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Santa Barbara Homes for Sale

When looking for Santa Barbara homes for sale, the best place to find great Santa Barbara Real Estate is by beginning your search for the perfect home with Jon Mahoney. Jon is a 3rd generation Santa Barbara Realtor who represents both buyers and sellers in the search for Santa Barbara homes in Montecito, Hope Ranch, Goleta, Carpinteria & Santa Ynez. Santa Barbara is sometimes referred to as the American Riviera. Beautiful beaches, majestic mountains and colorful culture make Santa Barbara a premier resort destination.

World-class accommodations and dining await it's many visitors. Santa Barbara is just a 1 1/2 hour drive north from Los Angeles or a short hop from any corner of the world via the Santa Barbara airport. Santa Barbara's harbor is home to the world famous Stearns Wharf where you can find many restaurants and shops as well as the Ty Warner Sea Center. From the City, you are just minutes away from the Santa Barbara wine country. The gorgeous Santa Ynez Valley, is home to such notable attractions as Solvang and the Chumash Reservation & Casino. Whether you enjoy hiking, fine-dining, lounging on the beach, culture, or a great night-life, Santa Barbara has something for you.

JonMahoney.com is your complete Santa Barbara Real Estate Guide for buying or selling homes in the Santa Barbara area. Use this site as your number one resource to search for Santa Barbara Real Estate, Montecito Real Estate, Hope Ranch Real Estate, Goleta Real Estate, Carpinteria Real Estate & Real Estate in the Santa Ynez Valley. JonMahoney.com is also a great resource to discover all that Santa Barbara has to offer. We will be continually updating the site to provide more information on Santa Barbara Real Estate, the history of Santa Barbara, and all Santa Barbara has to offer.

Jon Mahoney has traveled extensively all over the world and can honestly say that Santa Barbara truly is Paradise. Jon Mahoney is the ultimate professional who treats every transaction as though he is dealing with his own money! Jon is committed to providing his clients with the highest standards of professionalism. Simply view his client testimonials page to see what his client's think.

          

Santa Barbara Home Value

 

 

July 25, 2014

Price Reduction Coming! Great Development Potential – R-3 lot with City Zoning stating it can have 4 units!

1320 Olive - YouTube 600x

Video: https://www.youtube.com/watch?v=2sSKEs8OBw4

Property Website: http://SBHideaway.com

805-689-0532

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Jon Mahoney

Director, Luxury Homes Division

Professional Financial Planner

Keller Williams, Santa Barbara

(805) 689-0532

BRE# 01269717

info@JonMahoney.com

Montecito Real Estate Market Update – June 2014

Montecito Real Estate Market Update - June 2014 ————————————————————–

Jon Mahoney

Director, Luxury Homes Division

Professional Financial Planner

Keller Williams, Santa Barbara

(805) 689-0532

BRE# 01269717

info@JonMahoney.com

July 22, 2014

Inheriting Real Estate? New Rules Protect You

Santa-Barbara-Homes-For-Sale

You probably have not been lying awake nights worrying that inheriting a home and a mortgage might cause you a big headache. Even if you are lucky enough to inherit, who knew it could cause a big potential problem for you?

The folks at the Consumer Financial Protection Bureau knew. They knew because they created the problem. And now they’ve fixed it.

The bureau inadvertently cooked up the problem at the start of this year when a new mortgage rule that it wrote took effect. The rule made big changes in how mortgage lenders must screen mortgage applicants. Now they must take several steps to make sure you have a good chance of paying back the loan.

The rule was inspired, as you can guess, by careless lending by some companies before the mortgage crash.

Explains DSNews, a mortgage industry publication:

The Ability-to-Repay Rule took effect in January of 2014 and requires lenders to make a good faith effort to ensure that the borrower … actually has the ability to make payments on the loan that they are applying for.

The Ability-to-Repay Rule set off an unintended consequence: If you inherited a home and mortgage and needed to add your name to the mortgage, you had to qualify for borrowing the mortgage loan, just as if you were applying to buy the home.

The Consumerist notes:

There are significant consequences, such as losing the home, when heirs are unable to add their names to the outstanding mortgage of a home that has legally been transferred to them because the Ability-to-Repay rule was triggered by a lender.

You could face foreclosure.

Now, a solution

This month, that was fixed. Worry not, if you are in line to inherit property. With the change made this month, you can inherit Grandpa’s home, have your name put on the mortgage and pay away, even if there’s no way you’d actually qualify to borrow the money on your own.

You can even be eligible to apply for a mortgage modification if you can’t make the payments, says the CFPB’s explanation:

“Losing a loved one should not mean also losing your home. Today’s interpretive rule makes it clear that when family members inherit property, they can take over the mortgage without jumping through unnecessary hoops,” said CFPB director Richard Cordray. “This gives heirs an opportunity to work with the lender to pay off the loan or seek a loan modification.”

Others are protected, too

Other types of new owners are now protected, too. If you receive a home through divorce or a legal separation, you’re covered. If your still-living parents give you a home and mortgage, you’re covered. Homes and mortgages transferred to a living trust (an estate-planning tool) are exempt, too.

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Jon Mahoney

Director, Luxury Homes Division

Professional Financial Planner

Keller Williams, Santa Barbara

(805) 689-0532

BRE# 01269717

info@JonMahoney.com

July 21, 2014

Upcoming Pocket Listing – Not yet on the Market – Very Spacious 3BD 2.5BA Condo

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Upcoming Pocket Listing – Not yet on the Market – Very Spacious 3 bedroom/ 2.5 bath condo located in a quiet location. Beautifully landscaped end unit with private patio that and backs up to greenbelt. Possible addition capabilities for a fourth bedroom. Close to bike path, beach, UCSB and shopping. Will go very quickly.

 

Offered at $569,000

www.OwnInSantaBarbara.com

805-689-0532

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Jon Mahoney

Director, Luxury Homes Division

Professional Financial Planner

Keller Williams, Santa Barbara

(805) 689-0532

BRE# 01269717

info@JonMahoney.com

July 17, 2014

Santa Barbara Comprehensive Real Estate Market Statistics – June 2014

Santa Barbara Compehensive Real Estate Market Statistics - June 2014Santa Barbara Comprehensive Real Estate Market Statistics – June 2014

51 page PDF Report | 3.2 mb

DOWNLOAD:

June 2014 – Santa Barbara Comprehensive Real Estate Market Statistics.pdf

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Jon Mahoney

Director, Luxury Homes Division

Professional Financial Planner

Keller Williams, Santa Barbara

(805) 689-0532

BRE# 01269717

info@JonMahoney.com

July 11, 2014

Upcoming Listing! $1,395,000 – Stunning Single Level 2,724 SqFt Home

Cover with Play Button 600x

Video: https://www.youtube.com/watch?v=yugq-rd6vVQ

Property Website: http://SantaBarbaraEnvy.com

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Jon Mahoney

Director, Luxury Homes Division

Professional Financial Planner

Keller Williams, Santa Barbara

(805) 689-0532

BRE# 01269717

info@JonMahoney.com

July 9, 2014

Creative ways to win a bidding war

Santa-Barbara-Real-Estate-For-Sale

If you’re a home shopper in a market like Santa Barbara where bidding wars are common, it helps to have a strategy to ensure that your bid stands out from the competition.

You’ll want to do the basics: Make sure you have your financing in place, turning in all your loan paperwork before placing an offer. Better yet, if you have the means, you’ll really catch a buyer’s attention if you make an all-cash offer.

Also, write a financially competitive offer with as few contingencies as you’re comfortable with. Some buyers are waiving financing contingencies or even home-inspection contingencies, if they’re the handy type—though many buyers would be smart to keep that home-inspection clause.

And be flexible with your move-in date. Working with a seller who needs to move right away? Be prepared to close quickly so they can be on their way sooner. Does the seller need a month or two—or six—to move out? If you can be flexible and allow them to stay in their home for a while after closing (paying you rent, of course), they may choose your offer over all the rest.

But in some markets, you may have to be more creative than that to win the home you covet. If possible, find out the seller’s needs and wants, so you can customize your offer.

Below are some of the more unusual ways buyers can get the upper hand.

Write a love letter

It’s not all about the money. In situations where you are selling your home, there’s an emotional component. Sellers often like to feel good about the people who will eventually live in their home.

That’s why it’s often an effective strategy to attach a letter along with your offer, and maybe even a photo of your family, explaining why you want to live there.

Increase the earnest money

Another way to show the seller you’re serious: Up the amount of earnest money you’re willing to deposit.

Earnest money is a good-faith deposit made by the buyers after the offer is accepted. (You get it back in time for closing, and it usually makes up a chunk of a buyer’s down payment.) And while it’s often between 1% and 3% of the purchase price, boosting it even higher—maybe even up to 20%—will make an impression.

That will really make your offer different than someone else’s, especially if you have a seller with a past of prospective buyers who had been wishy-washy.

Cover seller costs

Sellers often cover transfer taxes associated with the sale, and many times will pay for a home warranty. To sweeten a deal, some buyers offer to pay these costs for them.

They don’t stop there, either. Many sellers will hire professional stagers to help them spruce up the home so it’s appealing to buyers—and some buyers are reimbursing them for that expense. Others are offering to pay for the seller’s moving costs.

Take the furniture

Sometimes, sellers have furnishings that they don’t want to take with them to their next home. As a buyer, you can help by agreeing to deal with the items they no longer want.

Make your offer as is

Some people offer to buy the home “as is” in their offer. They still do a home inspection—and have a contingency that allows them to get out of the deal if there is something drastically wrong with the property—but agree that they’re not going to be asking for repairs found during the inspection. By taking this route, the sellers know they won’t have additional costs to fix up the home before closing.

It allows you to walk away if something major comes up. But unless it is something crazy, you won’t be able to renegotiate.

Make multiple offers

Buyers who find more than one home they’re interested in may consider submitting offers on more than one home. Check local rules and customs on this, but, in general the deal is not consummated until the contract is signed and earnest money delivered. So you’ll likely be free to bid on as many places as you want.

In areas like Santa Barbara where inventory is limited, some buyers will put in two or three contracts on homes that they like because they’re not sure which one will work out.

But that strategy can just serve to complicate the process. It’s best to concentrate on one. If there’s another home that’s in the running, have an offer ready to submit in case the first one doesn’t get accepted.

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Jon Mahoney

Director, Luxury Homes Division

Professional Financial Planner

Keller Williams, Santa Barbara

(805) 689-0532

BRE# 01269717

info@JonMahoney.com

July 8, 2014

$255,000 Price Reduction! Very Motivated Seller. Open Tomorrow 11-1

255,000 Price Reduction - 72 La Vuelta Rd, Montecito, CA 93108 For Sale

$255,000 Price Reduction! Very Motivated Seller.
Now Offered at $1,995,000.

Open Tomorrow 11-1
72 La Vuelta Rd, Montecito, CA 93108
805-689-0532

http://MontecitoGetaway.com/

 

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Jon Mahoney

Director, Luxury Homes Division

Professional Financial Planner

Keller Williams, Santa Barbara

(805) 689-0532

BRE# 01269717

info@JonMahoney.com

July 7, 2014

Vacation Home Tip Sheet

Here are 6 factors you need to consider when investing in a second home.

Santa-Barbara-Real-Estate-Vacation-Homes

You should understand the differences in making this type of purchase versus a primary residence. Here are six key criteria to assess vacation choices, whether for personal use or an investment.

1. Keep costs within the budget. Qualify for a loan before looking, unless you pay all cash. Then, figure out how much discretionary income you’ll need. For example, you’ll need at least $30,000 annually to afford a $500,000 home comfortably. Why so much? To cover the monthly mortgage, real estate taxes, assessments, regular maintenance, homeowners’ insurance, flood insurance, furnishings, a caretaker to watch the property if the owners don’t live nearby, an emergency fund for disasters and major repairs, and travel costs. Also critical is that you not use retirement funds to fund the home; there’s never a guarantee you’ll recoup your money by renting out the property to vacationers.

2. Determine the frequency of use. The amount of time you  will spend in your vacation home depends on the individual and family and the investment and rental potential.

Some think they need to go every weekend to justify the expenses, while others are fine just visiting in summer or winter. Distance will play a factor.  Some potential buyers may also hope their grown children and grandkids will visit for multigenerational gatherings.

3. Pick the right location. What makes one vacation locale more appealing to buyers than another largely depends on the buyers’ interests. In some counties, a typical buyer’s wish list includes a departure from the urban life that many commute from, along with mountain or vineyard views and room for guests. While in others, there are multiple attractions of water, beaches, wine trail, and proximity to many large cities.

4. Understand upkeep. A big lawn needs mowing, lots of square footage means more cleaning, a pool requires maintenance — make sure you have a realistic picture of the upkeep a property will require. Some communities are trying to remove some of the burden by offering landscape services through its homeowners’ association and by developing smaller, more efficient homes and condos.

5. Research rental potential and costs. If income is the prime motivation, you should know that demand and dollars fluctuate with the economy, weather, location, number of bedrooms and bathrooms, and amenities. Buyers need to remove emotion from their purchase choice and pick what appeals to the widest target market rather than what they want for themselves. Buyers also need to know whether their homeowners’ association permits renting out a property, what their own comfort level is about having children or pets in tow, and whether they’ll need to split proceeds with a rental service or property manager — sometimes by as much as 50 percent of the take. They’ll also need renter’s insurance.

6. Think about resale and changing needs. Research sales, prices, and trends. Family needs also change. Little kids may willingly head out with parents but teenagers less so, and multigenerational families often require more space.

Having a keen understanding of your second-home market coupled with meeting your individual needs will help you to find your dream vacation property.

July 2, 2014

Montecito Real Estate Market Report – July 2014

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  KW Luxury Homes
Director
Luxury Homes Division Keller Williams
Santa Barbara

Cell: 805.689.0532
Fax: 805.563.4787
1435 Anacapa St.
Santa Barbara, CA 93101
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