Friday, June 22 , 2018, 7:51 pm | Fair 62º


Elaine Abercrombie: Name Your Price

Location and condition also are key to buying and selling in a dynamic market

The signals are out there: Home sales are picking up, and prices are slowly ascending. But recovery isn’t obvious everywhere yet.

Elaine Abercrombie
Elaine Abercrombie (Roe Anne White photo)

Most markets are still seeing the lower-priced homes selling fastest, while midrange homes are taking longer, and upper-end properties — when priced well for our market — are selling a bit slower.

Whether buying or selling, your best strategy in this dynamic marketplace depends on three things: price, location and condition.

The most important of these is price. If the price doesn’t represent a good value to the buyer, your home may be passed over and languish on the market even though the location and condition are very good.

Most of the 2 million recent foreclosures have made up the bulk of the least expensive homes on the market.

Bargain prices and a federal tax credit have lured investors and first-time buyers into the fray, increasing sales of $100,000 to $250,000 homes by 9 percent over the last year across the country.

Our area has a very low inventory of starter homes, and buyers should act quickly and submit their offer with due haste. If your offer isn’t accepted, keep checking back, because transactions fall through.

While it’s hard to compete against foreclosures in the pricing category, they’re often in dire need of repairs. Sellers can increase their odds of success by offering their home in “model condition” at a fair price.

Whether you’re a buyer or a seller, watch this space for more advice on making your next sale or purchase work.

Elaine Abercrombie, a broker with Village Properties Realtors, is president of the Santa Barbara Association of Realtors. She can be contacted at .(JavaScript must be enabled to view this email address).

Support Noozhawk Today

You are an important ally in our mission to deliver clear, objective, high-quality professional news reporting for Santa Barbara, Goleta and the rest of Santa Barbara County. Join the Hawks Club today to help keep Noozhawk soaring.

We offer four membership levels: $5 a month, $10 a month, $25 a month or $1 a week. Payments can be made through PayPal below, or click here for information on recurring credit-card payments.

Thank you for your vital support.

Become a Noozhawk Supporter

First name
Last name
Enter your email
Select your membership level

Payment Information

You are purchasing:

Payment Method

Pay by Credit Card:

Mastercard, Visa, American Express, Discover

Pay with Apple Pay or Google Pay:

Noozhawk partners with Stripe to provide secure invoicing and payments processing.

  • Ask
  • Vote
  • Investigate
  • Answer

Noozhawk Asks: What’s Your Question?

Welcome to Noozhawk Asks, a new feature in which you ask the questions, you help decide what Noozhawk investigates, and you work with us to find the answers.

Here’s how it works: You share your questions with us in the nearby box. In some cases, we may work with you to find the answers. In others, we may ask you to vote on your top choices to help us narrow the scope. And we’ll be regularly asking you for your feedback on a specific issue or topic.

We also expect to work together with the reader who asked the winning questions to find the answer together. Noozhawk’s objective is to come at questions from a place of curiosity and openness, and we believe a transparent collaboration is the key to achieve it.

The results of our investigation will be published here in this Noozhawk Asks section. Once or twice a month, we plan to do a review of what was asked and answered.

Thanks for asking!

Click Here to Get Started >

Reader Comments

Noozhawk is no longer accepting reader comments on our articles. Click here for the announcement. Readers are instead invited to submit letters to the editor by emailing them to [email protected]. Please provide your full name and community, as well as contact information for verification purposes only.

Daily Noozhawk

Subscribe to Noozhawk's A.M. Report, our free e-Bulletin sent out every day at 4:15 a.m. with Noozhawk's top stories, hand-picked by the editors.

Sign Up Now >