At the beginning of 2008, I wrote a few articles about short sales and foreclosures in our local areas here in Santa Barbara, Goleta and Carpinteria.  At that point, we had only seen a handful of foreclosures in our areas and most of these were in the entry level condo market from the $300,000 to $650,000 price point as well as track homes from the $590,000 to $800,000 price point.  Short sales were also just starting to creep up in our local areas within the same market and price points.

Now in the last several weeks, we have started to see a definite increase in short sales with many sellers looking at short sales as a great opportunity to attempt to sell their home and many buyers looking at short sales as a great opportunity to get into the market here in the Santa Barbara area.  

Here is the Catch: Not all short sales are actually going to be sold...in fact most won't from what we are seeing.   Ruth Simon and James Hagerty have written a very informative article in the Wall Street Journal talking about this fact.

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Further Reading: Any Great Short Sale Opportunites in Santa Barbara and Goleta CA?

Kevin Schmidtchen - Thank you for reading.  I hope you find Santa Barbara Real Estate Voice informative.  Please feel free to contact me or comment below with any thoughts.

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