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The Housing Market Already Responds to Higher Interest Rates

The Hop

Release Date: 06/19/2022

Considerations when Purchasing Investment Rental Properties show art Considerations when Purchasing Investment Rental Properties

The Hop

he HOP (Home Ownership Podcast) Episode 106: Hosted by Village Properties Realtor, David Charles Allen. In this episode, David reviews the interest rates and sales stats before discussing things to consider when purchasing investment properties as rental income. Interest rates were down a bit with jumbo 30-year loans at 4.375% and conforming 30-year loans at 4.875%. Regarding the sales stats, the new listings were at 60, which is higher than they've been in a long time and price drops were at 26, which is also higher than they've been in recent months. To reach David, email him @...

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The Market is Becoming More Balanced show art The Market is Becoming More Balanced

The Hop

The HOP (Home Ownership Podcast) Episode 105: For the last couple of years, it has definitely been a Sellers Market but Village Properties Realtor and host of the HOP (, feels that the market is becoming a little more balanced. Houses are sitting on the market a little longer and there are more price drops. Interest rates continue to fluctuate. Currently, 30 year fixed jumbo loans are down to 4.375% and 30 year fixed conforming loans are at 5%. While historically this is still a lot rate, new buyers have to get over the mental hurdle of missing out by not taking action when rates were lower....

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Interest Rates Up & Down on a Weekly Basis show art Interest Rates Up & Down on a Weekly Basis

The Hop

The HOP (Home Ownership Podcast) Episode 104: It was a beautiful week in Santa Barbara with temperature in the 70's. Surfers may be in for a treat as a South Swell may be coming. Interest rates have been up and down. Currently 30-year jumbo loans are at 4.625% and 30-year conforming loans are at 5.5%. Last week there were 47 new listings, 14 price changes, 26 pending sales, 3 expired listings, 25 that closed and 6 coming soon. The supply is slowly building but homes are taking longer to sell. To contact the host, Village Properties Realtor , email [email protected] or call...

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Interest Rates Take a Dip show art Interest Rates Take a Dip

The Hop

The HOP (Home Ownership Podcast) Episode 103:  Village Properties Realtor and host of the HOP, , gives the latest Santa Barbara Real Estate Stats.  Last week. there were 40 new listings, 12 price changes, 36 coming soon, 24 pending and 10 expired listings.  Surprisingly, interest rates dropped from almost 6 per percent to below 5 percent. Interest rates on thirty-year fixed loans dropped down to 4.875% and thirty-year jumbo loans dropped to 4.5 percent.  Houses are not selling quite as quickly as they were a couple of months ago due to a number of factors which David...

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Sell your House Now, or Wait a Year? show art Sell your House Now, or Wait a Year?

The Hop

The HOP (Home Ownership Podcast) Episode 102: Hosted by of Village Properties. Santa Barbara has been a bit warmer than usual with temperatures in the 80's and very little June gloom, which is often prevalent this time of year. Interest rates remained steady with 30 - year jumbo loans at 4.875 and 30- year fixed loans at 5.625%. Sales stats were also almost the same as last week with 45 new listings, 17 price drops, 29 properties closed, 23 pending and 7 coming soon. David notes that there has definitely been a shift in the market, with fewer multiple offers and properties taking longer to...

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The Housing Market Already Responds to Higher Interest Rates show art The Housing Market Already Responds to Higher Interest Rates

The Hop

The HOP (Home Ownership Podcast) Episode 101: The BIG NEWS is that the FEDs have raised interest rates, up to 5% for 30-year jumbo loans and 5.625% for 30-year fixed conforming loans. This hike in interest rates is already affecting the real estate market. As the interest rates continue to rise, some buyers may be reluctant to take out loans and cash buyers might not have to pay as steep of a price to purchase a home. This last week there were 46 new listings, 17 prices were lowered, 31 coming soon, 28 pending and 4 listings expired. If you'd like to talk to David about buying or selling...

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Interest Rates Creep up--Still a Limited Supply of Homes for Sale show art Interest Rates Creep up--Still a Limited Supply of Homes for Sale

The Hop

The HOP (Home Ownership Podcast) Episode 100: The early summer weather is beautiful, from the mid-70's to the low 80's and there is some fun surf to be had! Buyer demand may be waning a bit and this week, there were 40 New Listings, 32 Pending Sales, and 9 Price Changes. At the end of the show, David & Patti discuss their fur babies and talk about a Japanese theme Dog Park--Tsukuba Wan Wan, where people can play with all sorts of dogs. To contact host ot the HOP, email [email protected] or call 805-617-9311.

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Special Considerations when Building in Santa Barbara show art Special Considerations when Building in Santa Barbara

The Hop

The HOP (Home Ownership Podcast) Episode 99: Last week in Santa Barbara, there were 45 new listings and 36 pending sales--so while inventory is still low, there was some buildup in supply. While there are still multiple offers, they are now seen most often on the mose desireable listings. David discussed buying land to build your home. Santa Barbara is unique because there isn't much land available and building permits are stringent. Update! Moose (David's big puppy) is fully recovered from his recent bee sting. You can call David at 805-617-9311 or email [email protected]

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The HOP (Home Ownership Podcast) Episode 98:  Market Showing Signs of a Slow-Down show art The HOP (Home Ownership Podcast) Episode 98: Market Showing Signs of a Slow-Down

The Hop

The HOP (Home Ownership Podcast) Episode 98: Statistics reveal that the Santa Barbara market is cooling down a bit. This week there were 14 price drops and not many huge overbids. David also discusses the many industries that are affected, (from construction to service Industries) when the real estate market slows down. He also touches on the type of buyer that is likely to gain from purchasing during an inflation. Lastly, on the Fur Babies at Home segment, David talks about his big puppy Moose--who was stung by a bee and had a frightening reaction. You can email David at...

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Several Price Drops may Indicate the Start of a Market Correction show art Several Price Drops may Indicate the Start of a Market Correction

The Hop

The HOP (Home Ownership Podcast) Episode 97: David Charles Allen gives the latest interest rates and Santa Barbara Real Estate Stats. This week, there were 44 new listings and 49 pending sales, reducing the number of homes available for sale. There were 14 price changes and many of them can be accounted for by price drops on properties in the 1.5-million-dollar price range. It's too soon to tell with certainty, but it may signal the start of a correction in the market. David and Patti discuss the news that Oregon buyers can now send personal letters to the sellers of a house when they're...

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The HOP (Home Ownership Podcast) Episode 101: The BIG NEWS is that the FEDs have raised interest rates, up to 5% for 30-year jumbo loans and 5.625% for 30-year fixed conforming loans. This hike in interest rates is already affecting the real estate market. As the interest rates continue to rise, some buyers may be reluctant to take out loans and cash buyers might not have to pay as steep of a price to purchase a home. This last week there were 46 new listings, 17 prices were lowered, 31 coming soon, 28 pending and 4 listings expired. If you'd like to talk to David about buying or selling property in Santa Barbara, email him at [email protected] or call 805-617-9311