Hard Money Loans in Santa Barbara County: Realize Real Estate Dreams on the Coast
Beautiful Santa Barbara County, nicknamed the “American Riviera” for its amazing natural landscape, attracts tourists from around the world and is undoubtedly some of the most coveted real estate in the Golden State. For its residents, Santa Barbara County is a peaceful region with lots of outdoor activity, a friendly community, and a mellow pace of living. It’s a great culture that contributes to the area’s staying power and universal appeal as a real estate destination. With a hard money loan from Socotra Capital, your development can become part of the rich cultural and environmental scene in Santa Barbara County.
The Santa Barbara Real Estate Market
Santa Barbara County is home to a lot of luxury and vacation properties, but there are also a lot of workers and families who call the area their home year-round. Home to several institutions of higher learning, as well as a strong aerospace and technology sector, Santa Barbara County is always attracting new, highly educated residents seeking modern, comfortable living. Santa Barbara stays connected to the other metropolitan areas up and down the coast by way of the 101 as well as its Amtrak stop.
As of October 2015, the average price per square foot in Santa Barbara sits at a healthy $675, up 6.5% from the same time in 2014. Median sales prices are also high, at $1,027,500 for the same time period. That’s a slight increase from last year, just 4.3%. Essentially, this is a blue chip market where people want to build their beachfront dream home. Neighborhoods showing particular long-term popularity include the Riviera and Alta Mesa areas. Listing prices there were at $2,093,714 and $1,100,960 respectively as of October 2015. The pleasant climate and gorgeous beachfront trails at Shoreline Park are also very popular, especially for residents looking to have access to downtown Santa Barbara.1
Get Started in Santa Barbara County with a Hard Money Loan from Socotra Capital
Santa Barbara County has an intrinsic beauty that transcends market flux and is sure to provide continued demand for upscale development well into the future. The market has proven its appeal and staying power, so you can be confident that new residents will be flocking to Santa Barbara for years to come.
At Socotra Capital, we understand the Santa Barbara real estate market and our hard money loans can get you the liquidity you need to make your property ready for the market. Santa Barbara has the potential and infrastructure for long-term growth and prosperity and we can help you get your foot in the door.
Socotra Capital is California’s premier hard money lender for your real estate investment needs. Contact us today to get started on your quick approval!
- “Santa Barbara Real-Estate Market Overview.” Trulia.com. Accessed November 5, 2015. ↩