Relocation

Santa Barbara isn’t just a popular vacation destination; it’s also one of the most desirable residential areas in the country. If you’ve ever visited, you’ll know why. Where else can you bask in sunshine more than 300 days a year, spend one day strolling the beach and the next hiking in the mountains or sailing to unspoiled islands? In Santa Barbara we have access to top-­notch educational institutions and high-­quality health care. We enjoy a year-­round calendar of theater, art, music, and dance, and if we want to, we can dine at a wide range of quality restaurants 7 days a week. Remember, Santa Barbara isn’t a big, bustling city with high crime and high pollution. It’s a small, fairly safe Southern California beach town. It’s also friendly, relaxed, and ravishingly beautiful. Let’s face it, Santa Barbara has it all.

No wonder so many people are scrambling to buy a house or condo here. But there is a downside to this incredible desirability. Consider the age-­old formula of supply and demand, or the adage you get what you pay for, which in this case translates to one of the most desirable places to live in the country. As more and more people want to move here, real estate prices skyrocket, leaving the average home buyer standing on the pavement with a serious case of sticker shock. Even college students do a double-­take when they realize they have to pay $700 dollars to share a room in Isla Vista, adjacent to UCSB. There’s just no way to sugarcoat Santa Barbara’s housing situation. Sure, you’ll find the home, or apartment, of your dreams. But the question is, can you afford it?

Overview

Since the economic crisis, pricing has been on a bit of a roller-­coaster ride, and prices did drop considerably. What once cost $1 million is now closer to $600,000. Foreclosures and short sales have entered the picture, making real estate investment and prices uncertain. Even seasoned real estate agents have difficulty pricing properties for sale these days.

Despite tremendous philanthropy, community organizations and the general civic-­mindedness of Santa Barbarans, homelessness and panhandling continue to be an issue. There is also the threat of living in an area that experiences more drought than rain as well as gusting Santa Ana winds: Devastating wildfires have been a regular occurrence, especially in the foothill neighborhoods.

Once you have a good feel for the different neighborhoods, continue on to the Real Estate section for the inside scoop on the local market, how to choose an agent, and a list of local real estate companies that can help you find your dream home. If you absolutely can’t afford a permanent real estate commitment in Santa Barbara, check out the Vacation Rentals section of the Accommodations chapter and line up a condo, mansion, or beach cottage for the summer. It’s the next best thing to living here.