Ellwood Real Estate Newsletter

Housing and the e-x-t-e-n-d-e-d family

Many homes in Goleta are being transformed to accommodate new household members

Whether it’s kids who move back home after college, or aging parents moving back in with their adult children, or just relatives combining households, there are many extended living situations all about town. It might be temporary, or it might be permanent.

Recently my wife and I experienced this ourselves. Our daughter had a child, our first grandchild, right about the time her military employed husband was being transferred from N. Carolina to Florida. No problem except their house in Florida was not ready to move into for another few weeks. So we got the call from my daughter asking if it would be ok to come home, with the baby, while the new home was being finished. No problem, right? Well, one thing led to another and one delay after another, and a few weeks turned into 4 and a half months! Fortunately, my wife and I had not downsized yet, and had unused rooms available for daughter and baby. This was a transformative experience for us. We never really envisioned our kids and grandkids living with us (gee we never really got to be empty nesters), and while it was temporary, we could easily see how this could become a permanent situation. We did not need to partition off part of the house and add new entrances, but in the future it is a distinct possibility. In looking around our neighborhood we see very few new young families moving in, and the older homeowners, well, they are staying put for the most part. But the reality is that with our highly desirable climate, good healthcare, and few affordable alternatives, it just might pay to stay put and add a family member or two to share the experience!

Condominiums and Houses Currently for Sale

Status Address Price Beds Baths Sq Ft DOM
Active 3 Grove condos-Hollister Ave. * $514,000-$596,000 2 2 960 varies
Active Pepperdine Ct $899,000 4 2.5 1714 36
Active Ellwood Station Rd * $574,000 2 2.5 1134 71
Pending Hollister Ave * $489,000 2 2 960 170
Pending Ellwood Station Rd * $569,000 2 2.5 1166 125
Pending Cannon Green Dr * $599,000 3 2.5 23
Pending Hollister Ave * $615,000 3 2 1370 5
Pending Carmel Beach Cir $1,175,000 4 2 2036 11
Pending Marymount Way * $595,000 2 2 1054 12
Expired Ellwood Station Rd * $585,000 2 2.5 1166 6
Cancelled Lowell Way $799,000 2 2 1220 84
Cancelled Palo Alto Dr $1,180,000 4 3 2346 4
Cancelled Hollister Ave * $585,000 2 2 1104 82

Closed Sales – Condominiums and Houses

Address Sold Price Beds Baths Sq Ft DOM Sale Date
7602 Hollister Ave 101* $425,000 1 1 696 7 09/18/18
452 Linfield Place K* $420,000 1 1 770 29 10/18/18
7624 Hollister Ave 327* $444,000 1 1 766 42 09/26/18
7630 Hollister Ave 341* $440,000 2 1 870 89 12/18/18
241 Mathilda Dr* $442,000 1 1.5 885 27 11/09/18
7638 Hollister Ave 264* $519,000 2 2 960 6 09/27/18
7602 Hollister Ave 302* $525,000 2 2 960 101 10/12/18
7025 Marymount Way* $575,000 2 1.5 1054 6 11/08/18
363 Cannon Green Dr D* $610,000 3 3 1360 81 10/24/18
355 Cannon Green Dr D* $650,000 3 3 1462 16 09/05/18
333 Pacific Oaks Rd* $660,000 2 2.5 1411 10 10/25/18
302 La Salle Rd* $789,000 3 3 1881 6 09/12/18
499 Mills Way $779,000 2 2 1327 61 12/21/18
7064 Scripps Crescent St $826,000 3 2 1450 11 12/18/18
7105 Georgetown Rd* $817,000 3 2.5 1881 56 10/19/18
356 Santa Barbara Shores $785,700 3 2 1255 30 11/26/18
395 Daytona Dr $810,000 3 2 1259 13 11/29/18
7318 Greensboro St $890,000 4 2 1725 61 11/09/18
460 Pomona Ct $975,000 5 2.5 1811 7 09/14/18
7624 Hollister Ave 113 $385,000 1 1 696 47 12/07/18
484 Linfield Pl H $561,000 2 1 1066 9 10/03/18
396 Santa Barbara Shores $839,000 3 2 1248 47 12/07/18

Median condominium sale price in the Ellwood area Jan.–Dec. 2018: $575,000 (up 5.5% in 2018) – 38 sales

Median home sale price in the Ellwood area Jan.–Dec. 2018: $840,000 (down 1.7% in 2018) – 13 sales

Ellwood Real Estate Newsletter January 2019

What Sellers Should Know About Sales Comparisons

Many property owners look at their home's value on websites like Zillow, Trulia or Realtor.com, but can those valuations be relied on? These sites use Automated Valuation Models (AVMs), which have become more common but often don't reflect the true value of a...

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2017 Real Estate Reflection

For the greater Santa Barbara area (Carpinteria to Goleta) the number of single-family home sales rose in 2017 with about 5.7% more sales this year than last. The median price through November was $1,250,000, up 8.7% from 2016. Notably, twelve years ago (2005) saw the...

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Front Yard Patio Trend

Have you seen some front porch seating areas pop up in the neighborhood? They are a creative solution to drought tolerant landscaping and the blazing, late afternoon backyard sun. There are several other less obvious benefits to the front yard patio trend including...

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Accessory Dwelling Units (ADUs)

State Law now allows homeowners of single family homes to add onto or incorporate into their homes a secondary dwelling unit that they can rent out. They are called accessory dwelling units, or ADUs for short. The state passed this law in an attempt to alleviate the...

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2017 Real Estate Outlook

With the beginning of a new year there is often a renewed optimism in all things, not just real estate, and 2017 is proving to be no different. Year-to-date listing and sales activity is up over last year and sale prices are creeping up again slightly. Of course,...

2017 Word to Know: Surban

The term ‘surban,’ was coined at the 2016 REALTORS Conference and Expo in Orlando, Florida by a panel of Millenials and Generation Z constituents. It refers to a new age of mixed-use, suburban developments increasingly preferable to not only the up and coming...

Even With Rising Home Prices, Homeowners Deciding Not To Sell

Even with rising home prices over the past few years, many homeowners who have considered selling are deciding not to because they are caught in an affordability squeeze that is compounded by a lack of inventory, according to findings from the CALIFORNIA ASSOCIATION...

Homeowners Caught In Affordability Squeeze Are Staying Put

Even with rising home prices over the past few years, many homeowners who have considered selling are deciding not to because they are caught in an affordability squeeze that is compounded by a lack of inventory, according to findings from the CALIFORNIA ASSOCIATION...

More on Drones in Real Estate

Market Update The Real Estate market is hot again with a low inventory of homes and condos for sale, low interest rates and hence multiple offers on many properties. There are fewer sales occurring due to the low inventory, so clearly we are in a sellers market. The...

Year-End Update & Drones in Real Estate

For the Santa Barbara MLS South Coast area through Octo- ber 2014: the number of homes sold had dropped 17% but median sold price of $1,160,000 rose 11% from 2013 levels. The condominium market likewise saw a decline in the number of sales of 7% but the median price...

Mid-Year Market Update & Drought Tips

Everyone keeps asking me if the market slowing down? Take a look at the pending sales in the grid below with special note to the days on market (DOM). With a couple of exceptions, most of the properties are selling in less than 10 days! Asking and sale prices are...

Hot Market … So What’s Next???

We all know that the housing market has come roaring back the past 24 months in the greater Santa Barbara area, so the real question is: What happens next? I attended an economic talk last week that covered some 70 charts, graphs, tables, and the like from Zillow, the...

Market Commentary

Dear Homeowner and Investment property owner, here is some“NEWS YOU CAN USE” about our local Real Estate Market: The seller's market is dominating in “Goleta South” (ocean side of the freeway) as buyers outnumber available properties by a wide margin: Number of sales:...

Short Sale, Bank Owned Houses Vanish

As sales have escalated and prices have risen the past 18 months, distressed properties have declined in number dra- matically. This has factored into the already low inventory of houses and condominiums we are currently seeing on the mar- ket. A quick look at the...

2013 Sales Starting Out Strong Prices Up—Inventory Down

2103 is starting out to be a very busy year for housing sales on the South Coast. We are already seeing higher asking prices, higher closing prices, and continued lack of inven- tory of homes to sell across all price ranges, single family homes and condominiums. The...

2013 California Housing Market Forecast

The California Association of Realtors housing forecast for 2013 as outlined in the article below reflects to a lesser degree what will happen in the Santa Barbara/Goleta area: LOS ANGELES (Oct. 2) – California’s housing market will continue to recover in 2013, as...

Moving Or Improving?

Reinvigorated market continues: The increased buyer activity in showings, pending, and closed sales has continued since the beginning of the year. Homes and condos are selling quickly, often with multiple offers at over the asking price. Prices continue to stabilize...

Consumer Home Price Expectations Continue Upward Trend

Ok, call it low interest rates, lower prices, pent-up demand, lack of rain, warm sunny days, consumer confidence, whatever you like, but the reality is that the public is out looking at real estate again like its 2005, and they are scooping up the lowest priced...

Ocean Meadows To Merge With Devereux Preserve

Without trying to sugarcoat the local real estate market, it’s not really all that bad. We are back to 2002-2003 prices for condos and houses. These prices make a lot more sense for homebuyers. Prices are now leveling out. For example, the sale price of the house...

Things People Say They Really Like About Living In The Ellwood Area

OK, we are three months into the new year now, so what’s going on with Goleta home sales and prices so far this year and what will the coming months look like for homebuyers and home sellers??? The first quarter statistics for 2011 are in the books, which is going to...

California Housing Market Forecast for 2011

CALIFORNIA ASSOCIATION OF REALTORS® releases its California Housing Market Forecast for 2011:Small increases projected in home sales and median home price. LOS ANGELES – Home sales are expected to edge up slightly in 2011, according to the CALIFORNIA ASSOCIATION OF...

Real Estate Market Hotter Than You Think!!

All but one of the sales on these pages occurred within 30 days of the listing date! The buyers in today’s market recognize the low interest rate opportunity coupled with lower prices not seen since 2003-2004. As buyers have been watching the market the past 12 months...