If you are looking for homes in Goleta less than 800k just click the link below, this link will be updated frequently but the listings presented can and do change frequently and may or may not be currently available if you have any questions or feel free to give us a call thank you. If you like you I can do a search in other areas as well anywhere in Santa Barbara county. There are still home loans with only 1/2 % down payment for first time home buyers for those that qualify.
If you are not sure what you would qualify for I have included on the top of the screen an easy calculator to figure out what you would qualify for or “could” qualify for.
If you take a look at the Graph below you can see prices have come down tremendously but they have even rebounded a bit in the Goleta area, unlike many other areas that have either flat lined or continue to come down.
The Graph below just represents the time frame of how long or how fast a home will last on the market based off the price. As you can tell when you get below the 600k mark the homes typically do not last very long at all.
Before you click on the link below here are a few things to consider in deciding whether now is a good time buy a home if you are a first time home buyer. Interest rates are still below 5% that being said historically interest rates for homes are 7% on average so they are pretty damn good right now.
Real estate in general have gone through another adjustment and have gone through a double dip in prices including the Central Coast as well to read more about it you can check out this article.. Click here to read the Double Dip On Real Estate.
But the important thing to keep in mind are the changes that are still coming to
real estate in getting the financing needed for a home is going to be harder, and more expensive even if the prices were to come down more than they already are the financing for them is still going to be more challenging for many first time home buyers. Fannie & Freddie Mac are still losing money(Click Here For Story) and the Govt. wants out of the mortgage business. FHA loans are going to dominate the market even more so and take on more risks which is why they have already increased the monthly PMI and now require ALL loans that are FHA to have PMI. But the biggest impact will be when they increase the down payment possibly from 3.5% to 5%.
Also keep in mind for the time being until this loan is no longer available but there is still a home loan with only 1/2% down payment .. for those that qualify.
I will try to keep this updated just come back every now and then and find the home you are looking for, as well as real estate advice and tips.