Friday, May 23, 2008

Residential Loan Activity In Santa Barbara

The Santa Barbara area has been doing nothing but showing signs of the market improving. The residential lending activity for April continues that trend.

As you can see from the chart the number of non purchase transactions made a significant improvement from March. It was a 33% improvement, with the number hitting 533 transactions.

Santa Barbara, Carpinteria, Goleta, & Montecito I'm sure are all benefiting from good loan rates and our market not being impacted by a number of foreclosures being sold.

I know prices have come down some, but rates are good and our economy locally seems to be pretty stable with tourism doing well.

The residential purchase loan numbers have also increased. April showed a 37% increase over the previous month. How's that for good news?

Many industries rely on the real estate economy here in the Santa Barbara area and if it gets it's feet back under it this community will be humming again.

See You In Escrow!

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