Mark Lomas and Kirsten Wolfe
Santa Barbara Real Estate * 805.845.2888
Homes of [email protected]
Welcome to the American Riviera!
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Welcome to the American Riviera!
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Gibraltar Road view We suggest taking a scenic drive off the beaten path by taking a driver on Gibraltar Road as it's not as well known by the tourists. Click read more below for YouTube video.
Navigating a changing real estate market As we head into 2023 the housing market finds itself at a turning point, hindered by a dramatic spike in mortgage rates that chilled the market. A storm was brewing as sellers came to terms with the fact that volatile mortgage rates were rising and pushing some buyers to the sidelines dampening demand for their homes. Yet supply is still tight and home prices went up faster throughout the year than many American incomes. The cooling housing market also leveled the playing field for all types of brokerages as change became the new normal.
Despite low inventory, we continue to see more homes going into contract and closing escrow than this time last year. Low supply and high demand is driving prices up. Buyers are relocating here from more urban environments while capitalizing on low interest rates.
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3112 State Street, Santa Barbara, California 93105
Mark Lomas BRE 00898298
Kirsten Wolfe BRE 01309570