The Spoils of Downtown Living
By Michael Phillips   |   September 9, 2021

Juan Cabrillo, exploring the new world for Spain, sailed into the Santa Barbara Harbor in 1542. For the next 350 years, there was not much European contact. This changed in 1784 when the Spanish constructed the first adobe housing in Santa Barbara as barracks for soldiers. The Presidio, located between Anacapa and Garden streets on […]

Buying Paradise: Finding Gems Just Moments Away from the Park, Ocean
By Michael Phillips   |   August 5, 2021

Santa Barbara has had many personalities in its long-storied past. From the large, successful native American Chumash community ten thousand years ago to the Spanish and Mexican eras in the eighteenth and nineteenth centuries to the present, world-renowned destination resort, people have continuously been drawn to this spectacular place on California’s South Coast. Unfortunately for […]

Montecito Heat
By Michael Phillips   |   April 5, 2021

The Montecito Heat Index measures demand for Montecito single-family homes in five price sectors. By identifying demand, (contracts to purchase), rather than sales, (closed escrows) we create a forward-looking indicator of market strength. And since real estate activity fluctuates seasonally, today’s Heat score is compared to this date last year. All data are from the […]

How Hot is Today’s Real Estate Market?
By Michael Phillips   |   June 18, 2020

The Montecito Heat Index measures present demand for Montecito single-family homes. By focusing upon buyer contracts, rather than closed escrows which typically lag a month or longer from accepted contracts, the Heat Index provides a forward-looking indicator of both market strength and direction. At five distinct price points, we look at where value is most […]

How Hot is Today’s Market?
By Michael Phillips   |   February 20, 2020

The Montecito Heat Index measures present demand for Montecito single-family homes. By focusing upon buyer contracts, rather than closed escrows which typically lag a month or longer from accepted contracts, the Heat Index provides a forward-looking indicator of both market strength and direction. It also shows us at five price-points where value is most recognized […]

How Hot is Today’s Market?
By Michael Phillips   |   November 26, 2019

The Montecito Heat Index spotlights present demand for single-family homes. By identifying buyer contracts, rather than sales which typically lag a month or longer, the Heat Index is a forward-looking indicator of both market strength and direction. It also shows us at five price point(s) where value is most recognized by buyers and those properties […]

How Hot is Today’s Market?
By Michael Phillips   |   August 8, 2019

The Montecito Heat Index identifies demand for Montecito single family homes. By measuring buyer contracts (pending sales) rather than sales (closed escrows) lagging typically thirty days, the Heat Index provides a forward-looking indicator of both market strength and direction. It also shows us the price point(s) where value is most recognized by buyers and the […]

How Hot is Today’s Market?
By Michael Phillips   |   June 20, 2019

The Montecito Heat Index identifies today’s demand for Montecito single family homes in five price sectors. By measuring buyer demand (pending sales), rather than sales (closed escrows), which is lagging typically thirty days, we create a forward looking indicator of both market strength and direction. The Heat Index metric shows us the price point(s) where […]

The Montecito Heat Index: How Hot is Today’s Market?
By Michael Phillips   |   April 25, 2019

The Montecito Heat Index identifies demand for Montecito single family homes in five price sectors. By measuring buyer demand (signed contracts) rather than sales (closed escrows), we create a forward looking indicator of both market strength and direction rather than sold data which is typically a month or more old. This metric also shows us […]

The Montecito Heat Index
By Michael Phillips   |   September 27, 2018

How hot is Today’s Montecito Real Estate market? The Heat Index measures buyer choices for single family homes in five price sectors. Rather than sales data, typically at least 30 days old, the Index measures signed contracts resulting in present demand and thus market strength and direction. Since home purchases fluctuate seasonally, indeed monthly, today’s […]

The Condominium Market
By Michael Phillips   |   August 30, 2018

There is no doubt that condominium living is completely distinct from that of a single-family home experience. We all know condominium dwellers who fired their gardener and the guy who fixes the electric gate years ago and would not live any other way, and others who miss being able to paint their front door any […]

How Hot is Today’s Market?
By Michael Phillips   |   August 9, 2018

The Santa Barbara Heat Index is a snapshot of demand for single-family homes in the city of Santa Barbara described in our Multiple Listing Service as east and west of State Street. Rather than a measurement of home sales, often lagging by at least a month, the Heat Index measures homes currently under contract but […]

Changing Markets
By Michael Phillips   |   July 26, 2018

How hot is today’s Montecito real estate market? The Heat Index shows us buyer choices for single family homes in five price sectors. Rather than sales data (closed transactions) typically at least 30 days old, we measure current signed contracts (pending sales) resulting in an indication of present demand and market strength and direction.   […]

How Hot is Today’s Market?
By Michael Phillips   |   June 28, 2018

The Montecito Heat Index identifies demand for Montecito single-family homes in five price sectors. By measuring buyer demand, (signed contracts) rather than sales (closed escrows), we create a forward-looking indicator of both market strength and direction rather than sold data that are typically a month or more old. And since real estate activity fluctuates seasonally, […]

Montecito Heat Index
By Michael Phillips   |   May 31, 2018

The Montecito Heat Index illustrates demand for Montecito single-family homes in five price sectors. By identifying buyer demand, (signed contracts) rather than sales (closed escrows), we create a forward-looking indicator of market strength rather than sold data often more than a month old.  And since real estate activity fluctuates seasonally, today’s Heat Score is compared […]

City Living
By Michael Phillips   |   April 12, 2018

More people every day are foregoing life in suburbia for a more connected, varied, and mobile urban lifestyle. And it is small, sophisticated cities that are getting most of the attention. Santa Barbara, with extraordinary cultural and entertainment options, offers a sophisticated, small-city lifestyle second to none. There are, of course, official city boundaries, yet, […]

Year-over-Year Median Price up
By Michael Phillips   |   February 8, 2018

The Montecito Heat Index is a measurement of signed real estate purchase contracts, which are pending final closing for Montecito single-family homes in five distinct price sectors. This data, rather than closed sales, more closely measure present demand or Heat. And since real estate activity fluctuates, monthly and seasonally, today’s Heat score is compared to […]

Disaster Recovery Claims
By Michael Phillips   |   January 25, 2018

All of us have been damaged by the fires and mudflows that have left our community reeling over the past month. As we grieve for the loss of too many of our neighbors, and the destruction of so much of our community, we all share the burden of getting the insurance coverage we paid for […]