Places That admire
Imagine waking up to the immaculate site of a sparkling blue sea!
Arts and Culture
We’re proud of our culture and leave no stone unturned to flaunt it!
Beach and Parks
Spotless, pristine beaches spread across miles and parks that dot the city are indeed eye-pleasers!
GO ROUND THE city
A mere walk through it will reveal to you numerous stunning jewels that this city has! Come, explore and enrich yourselves in this unique experience!
About Santa Barbara
Carrying the name of the patron Saint Barbara, this city in California is a stunner! Santa Barbara proudly showcases its history, culture and tradition – ensuring you have a vibrant, colourful and fulfilling tour through this city!
SCENE AROUND TOWN
Located on a south-facing section of the coastline, Santa Barbara lies between the Pacific Ocean and the steep Santa Ynez Mountains. The climate of this city is often described as Mediterranean. If you are looking for luxurious living, then this is the place for you. It is one of the most expensive places to live in California. Santa Barbara real estate features homes that have a unique Mediterranean
style and feature either patio, courtyard, or villa style houses. Luxury Santa Barbara house living ranges between $300,000 and $500,000. Following are the most expensive homes for sale in Santa Barbara:
1368 Mountain Dr, Santa Barbara, CA 93108
• 6 beds, 8 baths, 11,351 sqft
1368 Mountain Dr is a one-of-a-kind luxury 5-acre compound that offers stunning views of the Pacific. Created by the famous designer Robert Webb, this 8-bathroom, 6-bedroom Santa Barbara real estate is a private sanctuary all its own. Beyond its spacious main house, the landscape and gardens are graced with numerous terraced lawns, rose bushes, and a blend of fountains, ponds, and pools. Lush landscaping complements the gazebo, lily pad filled, and wandering stream, making this residence a prime example of Santa Barbara luxurious living.
296 Las Entradas Dr, Santa Barbara, CA 93108
• 6 beds 8 baths 14,837 sqft
Drawing international inspiration, this spiritual and architectural estate is not only rich in storied history but it is also an expensive display of worldwide influences. Sitting on spacious area, this Santa Barbara house offers amazing views of the Pacific Ocean. It is complete with thoughtful garden spaces, rose gardens, office building, tennis pavilion, and 1-bedroom guest house. The main residence features a private sauna and gym, recording room, bar, wine cellar, home theater, and a meditation room.
4305 Marina Dr, Santa Barbara, CA 93110
• 5 beds 6 baths 10,143 sqft
This Santa Barbara real estate enjoys expansive living spaces with walls of glass that open to offers amazing panoramic views. The property is complete with rose gardens, 3 in-wall saltwater aquariums, home theater, guest unit, tennis court, spacious pool and spa, and much more. This landmark residence combines sophisticated landscape and architectural designs and it is the result of a home of incredible elegance, ease, comfort, and luxury.
975 Lilac Dr, Santa Barbara, CA 93108
• 5 beds 6 baths 10,594 sqft
Villa Ravello is an amazing estate with an easy sense of sophistication and underrated elegance. Long site lines display details throughout this Santa Barbara house. Nearly every room in the property opens to a terrace and different natural beauty, e.g. lush lawns, lacy oak trees, mountains, or the sea. Here, indoor and outdoor integration is seamless. With ample spaces for casual everyday moments as well as formal entertaining, 975 Lilac Dr is a luxury estate for the transitional age. These are some of the most expensive Santa Barbara homes. There are many others to choose from so it is likely that you will find what you are looking for in this area.
Santa Barbara, California is not a place to go to expecting to live in reasonable housing. In fact, Santa Barbara real estate is one of the more expensive things. If you want to move to Santa Barbara and buy a Santa Barbara house, there are a few tips and tricks to know before you come. The Rancho San Carlos is one of the most expensive homes in Santa Barbara and cost a large amount; eighty-five million dollars for the home and land. This home features a lot of cool things to do with the family or by yourself. While this is a very large investment, it doesn’t mean every home in Santa Barbara is going to cost this much. You can expect to pay a little less than that but more than what you would if you purchased a home in a different section of California.
Are Santa Barbara Residents Wealthy?
Santa Barbara is just like any other town in the fact that it does have some wealthy but its not all made up with wealthy people. Santa Barbara is an expensive place to live however, you don’t need to be a millionaire to put down roots in this location. You just have to be stable enough in your career that you can make it work. Before moving to Santa Barbara, you will want to find employment to ensure that you can stay in the Santa Barbara area and not have to commute to another location and back every day to find work. If you run your own business, you can do that from your new home in Santa Barbara while using all the most modern tools available including high speed internet.
Buying your Home in Santa Barbara
The first thing you will want to do is start your search online for available homes in Santa Barbara. The location of your new home is everything. There are several neighborhoods in Santa Barbara that is nice to live in, such as Hope Ranch, Capinteria/Summerland, The Riviera, The Mesa, and Montecito just to name a few. Each community comes with their own activities and rules to make their neighborhood unique and enjoyable to live in. You will need to know what must-haves you will require in your new home. Do you need a lot of privacy? What size lot do you need? How large of a home do you need, such as how many bedrooms and baths? Do you need a specific type of school district?
These things make your choice of home important. Before you talk about purchasing your home, you will want to know how much money you have to spend. You will want to go to the bank and determine how much they can lend you based on what your credit score is at that time. If your scores are lower than what you hoped, you may want to take a few months to straighten it up and raise it higher by paying off some of your debt. You may need to take out a small loan to make your payments to show that you are capable of paying the payments as you should. Give yourself about six months to straighten up your credit scores before going back to the bank and talking with them about your potential loan for a new home in Santa Barbara.
Your Credit Scores are up, Now it’s time to Search
Now that you have worked on your credit scores, you can now concentrate on finding your perfect home. Make a list of everything you need in a new home and then use a search engine to find all the realtors websites that focuses on Santa Barbara area. There are enough realtors in that particular area that will target the available home market so you won’t need to find a realtor that deals with other areas as well. You want all your attention to be on the Santa Barbara area. Find you a comfortable chair, get you a cold drink and spend the next few hours searching through homes available in the Santa Barbara real estate websites. There are so many to choose from all the time. Make a list of all the homes that appealed to you in your search so you can directly click on them again. All houses have numbers for the realtor to reference when you are discussing with them what you are looking for. Be prepared to give the realtors that number so they can better understand what you need and help you to find the home of your dreams based on your preferences.
Once you make a list of homes that you are interested in, contact a realtor to schedule a time to visit each on the homes you were interested in. Take a video recorder with you as you tour the home so you can record it and go back later on and watch the videos to determine which homes you like the best. After you have narrowed down your choices to five, go for a second visit so you can reduce the five down to a two.
Going Back to the Bank
Now comes the hard part. You will need to go to the bank with your two choices and determine which one you can afford to purchase, if any. If the bank won’t work with you on either one, you will need to go back and search until you find two more you can work with using the banks requirements and then see what you qualify for. You will most likely need to come up with a 20% down payment for your new home in order to purchase it as banks and financial institutions will normally lend out only 80% of the purchase price. Once the papers are ready to sign, you can go to the bank and become the new owners of a home in Santa Barbara.
Closing on your New Santa Barbara House
Now that you have the bank on your side, its time to finalize all the paperwork as part of the closing section of buying a home. There are a few things that cannot be avoided before the purchase is final. The bank and the realtor will work together to determine if the appraisal was accurate and if so, everyone will be able to sign off on the appraisal and that is also necessary in order to sign the loan papers. If you have escrow to put down on your home, you will need to make sure that you sign the paperwork for that as well. If repairs are needed prior to you buying the home officially, the homeowner will need to have them done at this time. Your new home is in escrow, the loan papers are getting drawn up, and now you need to get everything finalized in order to move on with your deal.
Signing the Papers
Next, you will go to the bank and sign papers so that you will be able to move into your new home soon. These papers are not your ordinary small loan papers; there are several papers that you need to sign in order to close the deal and move into your new home. Once the paper work is signed in front of a notary, the lender will then disburse funds to the designated area prior to the closing date of the contract. The funds are normally sent into the escrow account.
Now the final step is recording. Everything that you have worked for comes to this one day. Your offer has been accepted, your money went into escrow, the loan papers are signed, the final dollar amount was transferred into the final account. Now the house is officially yours because the deed was transferred over into your name. That’s all there is to buying a Santa Barbara home. Its going to be difficult to find a home that you like within your budget and this is most likely what will take the longest. Once you find that home though, the process will move a little quicker.
Now that the paperwork is done, you will need to work on moving. You may need to hire a professional to help you move your home items, especially if you are moving from far away from Santa Barbara. Movers can come in and pack up your home and load everything and then deliver it to your new home or they can just pick up the boxes that you have packed and take them to your new location in Santa Barbara. Once you arrive, all of your items will be there waiting on you to unpack it. This is an expense, but it is less of a hassle than trying to move everything yourself. Your new Santa Barbara home will be worth all the effort you have put into the search and viewing of all the Santa Barbara real estate available to find the one that suits you the best.
In Mid-March, the coronavirus pandemic sent the Santa Barbara County into lockdown over major health concerns. Both estate buyers and sellers alike stayed off the scene for fear of infections, and people were unsure of their job’s safety. According to Renee Grubb, owner of Village Properties, there were concerns as buyers and sellers left the scene. But fears have disappeared as activities have resumed in the past month. Santa Barbara real estate activities have resumed, and agents are busier than before the lockdown even though they now adapt to virtual showings. Reports from the California Association of Realtors show that business is also looking up in the city.
Between the end of March and early April, properties fell out of escrow as deals got canceled. Village properties also saw a 50% dip in business as compared to 2019. Grubb noticed that Santa Barbara’s real estate activities started improving since mid-April, and all they are waiting for is what deals they will close. High-end property agents have also resumed operations for a few weeks, and agents hope to close new deals.
For some parts of Santa Barbara, work never slowed down
While some agents celebrate the return of activities, other agents didn’t even suffer slow business during the lockdown. Cristal Clarke is one of those agents who continued working long hours without stopping. Buyers in San Francisco and Los Angeles expressed their interest, especially in Santa Barbara real estate properties under $10 million. Clarke believes that the reason businesses didn’t suffer a downturn is because people love Santa Barbara and Montecito and want to put things in place now, not the distant future. She expects clients to come in from several parts of the United States in the coming months.
Uncertainty Surrounding Virtual Showing
The district manager for Berkshire Hathaway Home Service California Properties, Kyle Kemp, believes that the unfamiliarity with using virtual tools for business transactions was partly responsible for slowed business in the first week. In no time, many agents caught up with the use of virtual tools for showings, and people also realized that Santa Barbara houses were not going anywhere soon. With this realization, the business continued to thrive. Kemp noted that sales went down by 60% in the first week. But things have drastically improved, and sales are only 20% behind now. Property inquiries in California have also seen a 206% increase when compared to the figures of 2019. Most buyers have quickly taken to technology and expressed interest in moving to Santa Barbara and Montecito from cities like San Francisco and Los Angeles.
Most buyers who expressed interest and purchased Santa Barbara houses are from California. Still, prospective buyers all around the U.S are also looking to come once it is safe to do so. Buyers looking to purchase Santa Barbara houses within the range of $3 million to $10 million will want to physically see these properties as virtual showings can only do so much. More interested buyers of properties than sellers is a significant challenge Increased demands noticed in April and May amid a shortage of Santa Barbara houses is the current challenge for agents. Since the start of 2020, there were already low numbers of houses in the market. With a growing number of interested buyers and fewer persons looking to sell their Santa Barbara house, agents are overloaded.
Agents have also not seen any downward trend in housing prices even though they expected the pandemic to have such an effect. According to Kemp, the current situation is more difficult for buyers than sellers as sellers have no competition while sellers are making multiple offers for few houses. Agents also have a lot of work and problems with their inventories as they are fielding several offers, especially for Santa Barbara houses under the $1 million mark. It is set to be a tough market this year. Grubb believes that if the Santa Barbara real estate suffers any losses, it will be in a single-figure percentage. She is particularly enthusiastic that they might reach sales figures for 2019 or come close. Although March was an uncertain month for real estate business in Santa Barbara, agents are looking forward to an increase in interests and a good business year as buyers are quickly adjusting to buying houses amid the COVID-19 pandemic.
Santa Barbara Building Heights are Going Up
Santa Barbara housing projects have been dense, but about building high, there have been some reservations. Recently, Santa Barbara City Council decided that the residential height limit must be increased from 45 feet to 48 feet. It means that you will see some new five-story residential buildings in your neighborhood. The height limit for the residential buildings and apartments has been 45 feet for a long time, but the increasing demand for residential spaces require authorities to accommodate more and more residents in the current buildings and apartments.
There was a long debate in Santa Barbara City Council about the approval of the new law of the height limit. Many Santa Barbara real estate developers voted in favor of the new height limit because they think that Santa Barbara house owners deserve tall buildings and a beautiful community. The average unit-size density incentive ordinance was approved in 2013, and the Santa Barbara City Council has been looking for ways to make some recommended changes in the law. This new law resulted in the construction of 220 new residential units by Santa Barbara’s real estate developers. The rent of Santa Barbara’s house or apartment in these new projects is also high. Now, there is a debate about whether these new housing projects will meet the requirements and the needs of the working class or not.
The Santa Barbara City Council has also asked the developers to build at least five housing building with 10% below market inclusionary residential rent. Adding three feet to the maximum height limit for residential buildings will help the Santa Barbara real estate developers to offer better living and housing facilities for the local residents. There is huge pressure on Santa Barbara City Council by the real estate developers about allowing the construction of highly dense and tall buildings in the town.
But the council also needs to consider the consequences of passing the rule and limit the financial gains of the developers. It is a fact that Santa Barbara needs more housing, but it is also critical to maintaining the level of quality living. Authorities need to provide new housing projects for the people who really need new space, but it must be admitted that no matter how many new buildings are built, the demand for housing is going to increase anyway. The increasing rents will make the housing more difficult for the working class as the projection in rents makes these apartments out of reach for the people who can only afford below market rent.
The average renting cost of the one-bedroom one-bath unit house is almost $2500 per month, and that would require the person to earn almost $6000 per month. Are all people who are looking for such residential spaces have a monthly income of $6000?
As a result of the non-affordable residential units, outsiders will rent these houses and apartments. Authorities think they are building houses for the locals, but that’s not going to happen with this kind of rent projection.
Located on the Central Coast of California, Santa Barbara is a beautiful beachside city with many attractive features. With the ocean on one side, gorgeous Santa Ynez mountains on the other and Mediterranean-style white stucco buildings complete with Spanish red tile roofs lining the homes in between, it is a picturesque California location that many would love to stake their claims in and get their very own Santa Barbara house in the middle of it all. Tourists come from all over to stay in one of their grand hotels and enjoy the beautiful landscape and award-winning wineries, and while they are there, just as many might start thinking about having a permanent residence in the already crowded city.
When a residential hopeful starts considering the realities and logistics of living in Santa Barbara, it might not seem like such a dream come true unfortunately. As it stands, not everyone has the same wealth as celebrities such as Oprah Winfrey, Ellen DeGeneres, Charlize Theron, Angelina Jolie or Brad Pitt, who are just a handful of the celebrities that call Santa Barbara their home. Santa Barbara real estate is famously expensive, and without that kind of money in the bank, people begin to wonder if there is any such thing as affordable housing in Santa Barbara.
This desirable place for living and working is usually always seeking employees, as they tend to have a hard time attracting and then retaining workers that are qualified for the jobs. The high cost of living makes that difficult, as there simply is not enough affordable housing for the average person to be able to live and hold down a job there. After the Santa Barbara Country Grand Jury in 2019-2020 looked into the issue, they found the need to bring in more affordable housing has increased, but they have not actually followed through with bringing affordable Santa Barbara real estate onto the market.
Since the beginning of 2018, those in charge of legislation have been passing it to require various cities to ease up their zoning processes to make housing affordable for people of any income level, and if they don’t, the state can easily overrule their legislations. It has been mandated that Santa Barbara build thousands more affordable homes by the year 2023, declaring not just a housing crisis but also a homeless crisis. The obvious fix in this situation seems to be doing what was told of them and to make each Santa Barbara house one that is actually attainable.
The problem lies in the city needing to build these homes but not having the proper resources to be able to do it, and because it is already so packed full, the city will need to expand upwards instead of outwards. In order to make it so living in Santa Barbara is not just a fairytale indeed, the city has to stop all unproductive patterns when it comes to filling itself out and become more forward-looking in their housing and real estate endeavors.
Buying a home can be a challenging endeavor in any competitive market, but there are certain states and cities that really give first-time home buyers a run for their money. WalletHub recently performed an extensive study comparing 300 cities of different sizes across 26 key indicators of quality of life, affordability, and market attractiveness.
The data set ranges from property-crime rate to real estate taxes to cost of living. Many largest metro areas in the country were reviewed in the study on the basis of several factors a first-time buyer should consider when buying a home. These include safety, culture, market tightness, job market, affordability, and more. The results indicate that California is far from an ideal place for first-time home buyers.
California in General is Not an Ideal Place for First-Time Home Buyers
While California is overall a stunning place, it has some glaring, serious issues, just like most other states. More importantly, it is not an ideal place for first-time home buyers. In fact, it is home to several of the worst cities and metros for first-time buyers, such as San Diego, Santa Barbara, San Jose, Sacramento, and Los Angeles. Many of these places have been ranked worst for first-time home buyers due to the sky-high prices and highly competitive real estate markets. Many studies have even declared California as one of the worst places to move to particularly for first-time home buyers.
Santa Barbara Ranked the 3rd Worst City for First-Time Home Buyers
The extensive research of WalletHub also ranks the worst cities for first-time home buyers and Santa Barbara is at third place. It has been declared the third worst city for anyone looking to buy their first home. And this isn’t the first time it has been ranked the worst city for first-timers; it was ranked the third worst city the year before as well. First time home buyers purchased 39% of all U.S. single family houses in the fourth quarter of 2019. This year, the buyers are conflicted on whether or not it is a good time to buyer their first Santa Barbara house and the reasons are pretty clear; mortgage interest rates have hit record lows and the novel
Coronavirus has crippled the finances of many people. While Santa Barbara real estate may not be ideal for you, there are many other options available. According to the study, there are several best places for first-time home buyers in the state. The top five places include Henderson, Gilbert, Chesapeake, Thornton, and Boise. Santa Barbara is ranked 298 out of 300 cities researched by WalletHub. It is followed by San Francisco and Berkeley. When it comes to small cities, Santa Barbara real estate ranks 134 out of 135.
The Bottom Line
If you are a first-time home buyer and want to buy a Santa Barbara house, then it is recommended that you rethink your plans. This is because the Santa Barbara real estate is arguably one of the worst for first-time buyers. California in general is not an ideal place for you if you are looking to buy your first home. If you cannot wait to buy your first home, then you should consider buying one in Henderson, Gilbert, Chesapeake, Thornton, or Boise.
Santa Barbara, California was found to be the seventh most expensive city for living in the world, according to Business Insider’s 2018 study. Yet, these results are not so surprising. Santa Barbara is known as the American Riviera, featuring stunning landscapes. Moreover, it is a great place for living with a comfortable climate, quality health care system, educational opportunities, and a crime rate lower than the national level. Numerous attractions make this area attractive to tourists. Santa Barbara provides a fairytale spirit on the cultural crossroad.
Another attribute to the reputation of the space are luxury real estate offers. Below we have gathered a list of 10 most prominent houses and lands with the essential information for each of them. The most expensive Santa Barbara real estate is an initial $125 million worth Rancho San Carlos. The 2014 price when the estate first appeared on the market is now lowered down to $85 million.
With 237 acres of land, this property includes many buildings. Aside from the main area with 30 rooms, 12 bedrooms, 10 bathrooms, and many more, there are 10 cottages for guests and employee accommodation, along with an office building. It is a colonial-style residence that dates back to 1931 when it was planned by the renowned architect of the area, Reginald Johson.
Located on the hilltop, just 17 miles away from the Santa Barbara downtown area and 90 miles away from Los Angeles city center, it has a perfect location. The owners of the property were Charles H. Jackson and Marcia Ann Gavit, both with the wealthy inheritance of their grandfathers. Charles was the grandnephew of a President, Chester A. Arthur, while Marcia was a granddaughter of Anthony Brady, a famous businessman who passed $14 million on his granddaughter at the age of 8. A couple built this mansion in 1931 and the family has owned it ever since.
The property is unique in style, build in stone, equipped in wood. All over the property residents can enjoy various fruit trees, plants, and greenery. There is a courtyard in the center, with the housing surrounding it. There is a secret pub located down the hallway connecting library and the living room. The hidden staircase leads to an English Whisky pub as the mansion was built in the Prohibition era. Alongside this, there is an underground badminton court.
Whole house breaths in the spirit of the 90s. Movie-like library with wooden shelves, furniture, and a fireplace; dining where family set up original walls from their 1920 property in Britain makes this Santa Barbara house a special experience worth its fortune. As Jackson loved horses, there is a huge horse stable as well. With all of its properties, the mention owners pay $78,636 in taxes each year.
The second most expensive Santa Barbara real estate is 1800 acres Las Varas Ranch. The first listed price for this luxury property is $108 million. Made in the Spanish style, with 2 miles of oceanfront, this house has its own sandy beach and lake. With a common name ‘’Neverland’’, this Santa Barbara house is worth $100 million. Sycamore Valley Ranch used to be home to the epic entertainer and pop star, Michel Jackson. Within 2698 acres it features six bedrooms and nine bathrooms. It is a French-style mansion, with a private swimming pool, theater, and sports court.
Santa Ynez Mountain foothills is a magnificent Santa Barbara real estate worth $77 million. It is a 340-acre property that was once owned by Herry E Bothin. House prides itself on an amazing ocean and island view, along with waterfalls and fountains in the yard. In the Gaviota area, there is another unique Santa Barbara house. Spanish-style mansion spread on the 214 acres of land, it features nine guest residences and the main house. Moreover, there is a private beach and equestrian facilities.
Worth $49,7 million, known by the Jewel of West and several other names, is a 264,49 acre Santa Barbara land. It is listed as one of the four most beautiful land properties in the United States. It is located over the oceanfront, featuring privet, sandy beach, and a breath-taking view. Rancho Latigo, an equestrian dream estate spreads on 4,674 acres in the Santa Ynez Mountain area. With a swimming pool, spa, and horse facilities, this ranch is worth $45 million.
Montecito features a Mediterranean-style expression of elegancy within 12,916 square feet. It has an exceptional outdoors on the hillside. With 6 bedrooms and eight bathrooms, spa, and swimming pool, this timeless property is bringing you back to the old movies for 27,9 million US dollars. In between the mountains and sea lies a modern style ranch masterpiece in the Santa Barbara area. It was build and designed in 2015, by the Warner Group of Montecito. Glassed walls offer a panoramic view od the ocean. The household features a specious recreational setting with a swimming pool, spa, tennis court, theater, 3 saltwater aquariums, and a rose garden. Regardless of the preferences, everyone can find something to enjoy and relax with on this 10,143 square feet ranch. Currently, it is worth $27,5 million, but the rise is expected in the future.
Legacy Estate in Montecito is a $22 million mansion. In the every corner of this unique looking house there is a stunning ocean view. The quality construction is ornated with beautiful tiles and antique-style finishes. Designed in 2016, it features offices, a gym, theater, and a recording studio- everything a 21st-century family could possibly need and more. On the outside, there is a soccer field within a set of ancient oaks. In a variety of architectural styles, unique histories, and options, each of the mansions we listed is a value for money. Whether you like modern and simple construction or a bit of rustic breath, you would find an option to suit your taste. However, before you fall in love with them, consider if your budget supports the luxury of Santa Barbara properties.
So many people want to live in Santa Barbara, California. There are many reasons it has always been such a popular tourist attraction. The weather is great all-year-round with around 300 days of sunshine every year. There is always a festival to go to. With both beautiful beaches and the mountains, everyone can enjoy the scenery. It is also easy to see the Spanish history that is woven into the city everywhere you look. But while many people would love to live and work in this beautiful city all the time, the Santa Barbara real estate just is not affordable for most people. This lack of affordable housing in Santa Barbara is a serious need that needs to be met in order for people to continue living in the city.
The average Santa Barbara house costs around $1,100,000. Most people could never afford to pay this much for a house. In fact, only about twenty percent of families in Santa Barbara can afford this high cost. Even renting a two-bedroom house can cost around $2,500 per month, which is incredibly high considering the average family income is only around $80,000. What is even more shocking is the fact that even though there are around 10,000 vacant homes in Santa Barbara, there are only around 2,000 people who are homeless. Some of these people are homeless because they could not afford a home in Santa Barbara, which made it difficult for them to keep a job, and many others are homeless because they have mental health conditions for which they are unable to receive help. They need the help of the city to be able to live in a safe and affordable home.
CAUSE, an advocacy group focused on the rights of tenants, surveyed 590 tenants in 2019 to determine some of the core issues they were dealing with in Santa Barbara. Around fifty-five percent of people who took the survey were considered cost-burdened; over thirty percent of their annual income was used to pay for housing. In fact, in a list of counties considered most cost-burdened in California, Santa Barbara ranks at number six. This survey also concluded that in the last five years, rent for most houses in Santa Barbara had increased by around twenty-seven percent, even though the wages employees were making had only increased by eight percent. Twenty percent of those surveyed had to move to a new home because they could not afford where they were living at the time. Ten percent of these survey-takers had no choice but to move out of town because they could no longer afford Santa Barbara real estate. Another fourteen percent had to move in with other family members in order to share the burden of housing costs.
Unfortunately, a large number of other survey-takers made financial sacrifices in other important areas of their lives. Almost forty percent of people decreased their food and health care budgets, even though they realized the necessity of these areas. Around eighty percent had to deal with significant issues in their homes, such as mold, broken pipes, and pest infestations. Only around forty percent of these tenants had these issues fixed by their landlords after they reported the problems. The rest had to either pay to fix the issues themselves or live with the problems.
Even as these houses deteriorate, landlords do not decrease the price of rent. Although Santa Barbara created a Housing Authority in 1969 to fulfill the need for more affordable housing, a recent investigation revealed that this commitment has not been a priority for the city. They have only approved around 1,300 housing units, which the Grand Jury says is not enough to make a difference in the city. The City Council has not found any funding or even any properties for housing projects. It also seems that they purposely postponed the development of housing units and, when making final approvals for new housing developments, they did not require any affordable housing.
This lack of affordable housing also creates a lack of jobs being filled. Most people who work in Santa Barbara commute from nearby towns. With more than 5,000 trips made to Santa Barbara from North Country and more than 25,000 south of the city, employers are finding it more and more difficult to not only find new employees but also to keep them because of the travel. The city of Santa Barbara must now provide more than 2,000 housing units for low-income and middle-income families by 2023. The Grand Jury suggested certain approaches that would not hurt the budget for the city, such as form-based zoning to determine if projects fit in with certain areas. Multi-use zoning was also suggested to provide more spaces for housing units. Another suggestion was to find land or property that could be funded to use for affordable housing.
According to the Grand Jury, the City Council needs help changing their vision, setting new goals, and making plans to effectively meet those goals. They believe the City has ignored the needs of residents for too long and that there needs to be an immediate change. Santa Barbara is a popular attraction for many people, and the appeal of the city likely will not go away any time soon, even with the high cost of living. For some people, this is simply the price you have to pay if you want to live in the place of your dreams, a place some consider “paradise on Earth.” But for the majority of people, this high price is one they will never be able to afford; living in a Santa Barbara house is a dream they will never reach. The city of Santa Barbara has some changes to make if they want their city to continue to thrive, and they now have a few more years to make that happen.
“It’s been one whirlwind of a period, monstrous increase; it was an unexpected as it was gargantuan,” remarked a realtor in the Santa Barbara Real estate region. While the global pandemic put a hold to daily routines and jeopardized many business and economy, an unexpected region that ironically feels a complete opposing turn of events is the Santa Barbara housing market. This boom has seen a 45% increase in housing sales since June, and has continued to bewilder analysts and realtors.
Santa Barbara is a coastal city surrounded by the steep highlands of the Santa Ynez Mountains and the Pacific Ocean in the southwestern state of California. It has a population of approx. 91,000 and is a popular destination for tourists. The Santa Barbara Real estate has seen a lot of its inhabitants pass up their properties either for sale, from foreclosures, but mostly as rentals. With an above 95% rental-occupancy rate, the Santa Barbara real estate is the most expensive of housing areas in the state. Another interesting fact is that houses placed on listings do not take as long as they took a year ago before they are sold off. Realtors reported that previously houses especially above the $1milion could take as two years before they can manage to attract the right buyers.
Luck, Coincidence or Pattern…
Although many realtors have attributed the explosion of the Santa Barbara Real Estate to pure luck, other realtors believe that many intangible factors fuelled in subtle ways by the pandemic might have played a part.
The fear of the unknown
In the early months of this year 2020, due to the devastating Corona-Virus, uncertainties were high, trust was running low and the government was almost panicky, this led a lot of property owners to start thinking ‘downsizing’ and cutting of costs. During this period, some houses were listed on the market and this could not have coincided with a better time than when people sought privacy the most.
Bye-bye, off with the family
Some Realtors and agencies confessed that most of the homeowners expressed their desires to relocate and move on to be closer to the family. As the family sentiments are the greatest motivation, it is hard to fault this reason.
Maybe another gold rush
There were claims from homeowners that most of the people who have shown interest in their properties so far are mostly foreigners to the region who are seeking a better and different community. With the current infrastructure growth and low unemployment ratio of the city, it is easy to see why.
People capitalizing on the crazy housing conditions
Finishing in the top 5 of the number of house listings priced at $10 million and more, and 112 available rental units out of a possible 22,401 unit, Santa Barbara Real estate, and housing is the most expensive in the whole of California. This has given homeowners the needed incentives to sell “High Demand”, and mostly at ‘more than fair’ prices.
While there can be no assurances about the figure being a fluke, analysts have predicted that due to the craze of land in the Santa Barbra region and its bubbling economy and developments, the rise in the cost of the Santa Barbra house will continue. This might be a time to invest in a Santa Barbara house as the current boom is not likely to drop anytime soon.
Owned by Mansour Ojjeh, a shareholder of TAG and the owner of the McLaren Formula One team, this Santa Barbara house, named El Rancho Tajiguas, is one of the most expensive estates in the locality of Los Angeles. A few houses in the country can have a price as high as $110 million. Occupying the area of almost 3500 acres, this Santa Barbara house has everything that is needed for the luxurious life. From cattle farms to orchards, this estate will give you the thing of your choice at your disposal.
Until now no house can be sold in this area at this whopping price, so if its price stays at $110 million, it will be the most expensive property to be sold in the locality. Rancho San Carlos was the most expensive property in Santa Barbara, with worth $125 million, but it’s worth was declined to $85 million at the time of sale. Similarly, a 22000 feet house was sold for $35 million as its initial price of $45 million declined.
Another most luxurious house in the country was owned once by Ronald and Nancy Regan and was listed for sale at the price of $245 million and was the most expensive house in the whole country.
Features of Santa Barbara house:
The Santa Barbara house has a stunning scenic ocean view with every luxury present in it.
It is one of the few private ranches on the coast. The seller had to wait for permission for almost five years to make the houses at the property location. Anyone who buys this property will also get a herd of nearly 120 cattle. Not only this, but the property also contains orchard having the 285 acres dedicated for avocados and 12 acres for persimmons.
With its adobe-style walls, tiled floors, and beamed ceilings, both houses have no parallel in the beautiful architecture. With a separate wine storage room and a well-managed kitchen, these houses have everything you could imagine. Not only this, but there are special movie theaters and laundry rooms present in the houses. There are 10 bedrooms and 21 bathrooms in these houses. With hilltop estates facing the ocean and a phenomenal scenery all around, this Santa Barbara real estate has wonderful agricultural land around it with vast parks.
With its unparalleled beauty, flawless architecture, perfect engineering applications in the design, and unique quality construction material, this estate is setting new standards in the real estate business.
Furthermore, its huge water reservoirs, along with its fertilization facilities, this property has also a dedicated space available for crop storage. This Santa Barbara real estate property has a separate space for Rangeland of almost 1100 acres and can have the cow-calf operation of nearly 200 animals. The two houses named Villa del Mare and Villa del Costa are located in the area of 287 and 106 acres, respectively. The houses are fully fenced, and its antique tiles are imported from Spain and Portugal.
In a nutshell, the property has everything that one could ask for and is the most expensive estate in Los Angeles. With the phenomenal features mentioned above, it would not be any surprise if it would be sold at this whopping price of $110 million.