So you wanna get started investing in Santa Barbara and you’re checking things out, eh?
Good for you. Always do your homework and you won’t get schooled.
Here’s some great tools that we’ve found and we use from time to time and great real estate investing resources in Santa Barbara for investors here locally to tap into for quick research on your investment deals.
The best thing is most of these sites below are completely free!
Here’s a few sites you should get to know:
1. Zillow
Zillow, as the leading real estate website, holds a prominent position in the industry due to its extensive data and wealth of information on properties. CEO Spencer Rascoff himself emphasized the value of their “living database of all homes” as the company’s most valuable asset.
While Zillow offers a popular feature called Zestimate, which provides automated property value estimates, it is important to acknowledge its limitations. Many individuals have noted that the tool may not always provide accurate assessments. Therefore, it is crucial to combine Zillow’s data with your own analysis of comparable sales (comps) and a thorough evaluation of the market conditions.
To truly understand the dynamics of the market in your target Santa Barbara neighborhoods, it is advisable to spend ample time on Zillow. Dive into the details of each property sold, exploring not only the prices but also the factors influencing them. By delving deeper and seeking to comprehend the psychology behind the pricing decisions made by sellers and buyers, you can gain valuable insights into the market’s dynamics.
It’s essential to recognize that each sale represents a small piece of a larger puzzle that forms the overall market. By observing and analyzing these transactions, you can start to piece together a comprehensive understanding of market trends, fluctuations, and buyer-seller dynamics.
For investors, Zillow can be an incredibly valuable tool. It allows them to gather extensive information and insights about their target markets. By leveraging the data and delving into the intricate details provided by Zillow, investors can make more informed decisions and navigate the market with greater confidence.
However, it’s important to note that while Zillow provides valuable data, it should be complemented with other sources of information and analysis. Engaging with local real estate professionals, conducting thorough due diligence, and considering additional market indicators are all essential components of successful real estate investing.
In summary, Zillow offers an array of resources and data that can be immensely beneficial for investors looking to understand their target markets. By utilizing the platform and combining its information with thorough analysis and market research, investors can make more informed decisions and navigate the complexities of the real estate market effectively.
2. Craiglist
Indeed, Craigslist is a valuable platform that can provide excellent opportunities if you invest time and effort into exploring its listings. The site often presents incredible deals, but it requires diligent searching and careful evaluation to uncover hidden gems among the multitude of ads.
One unique aspect of Craigslist is that many great properties may be advertised with poorly crafted or unappealing listings. It’s not uncommon for properties with immense potential to receive subpar ads that fail to showcase their true value. This phenomenon occurs regularly, every hour of every day, throughout California.
To uncover these hidden opportunities, you must be willing to scour through the listings diligently. Take the time to thoroughly search various categories, refine your filters, and review multiple pages of results. It may require patience and persistence, but the reward can be a remarkable property that others might have overlooked due to an underwhelming ad.
When browsing through Craigslist, it’s important to keep in mind that the quality of ads does not necessarily reflect the quality of the properties being advertised. Many sellers might lack the marketing skills to create compelling listings, which is why you should focus on the property itself rather than solely relying on the ad’s presentation.
To make the most of Craigslist, consider setting up automated alerts or regularly checking the site for new listings. Additionally, be prepared to act swiftly when you come across a potential opportunity. Due to the nature of the platform, desirable properties can attract significant interest, and delay in contacting the seller or scheduling a viewing can result in missing out on a great deal.
Remember to exercise caution and conduct thorough due diligence when dealing with Craigslist listings. While there are many legitimate opportunities, it’s essential to be mindful of potential scams or misleading information. Verify the details, request additional information, and if possible, arrange to see the property in person before making any commitments.
In summary, Craigslist can be a goldmine for finding incredible real estate deals. By investing time and effort into searching the site, carefully evaluating properties beyond the quality of their ads, and being proactive in your approach, you can uncover hidden opportunities that others may have overlooked. Exercise caution, conduct due diligence, and seize the opportunities that align with your criteria and goals.
3. LoopNet
LoopNet is the granddaddy of commercial real estate investing.
You wanna sell a gigantic freakin building to institutional investors, this is the site you want to list it on.
Sometimes there are great deals on LoopNet, but you’re competing with every other investor to find them. If you are a Grade-A investor working with a top broker, you’ve got a chance to win the bid and seal the deal. This is not the site for rookies.
LoopNet is a great place to learn about the market in Santa Barbara and see how the major money is moving. You’ll be surprised what you can learn, so start searching through the properties for sale and watching where they close.
4. Auction.com
Just like its name suggests, Auction.com is a big clearinghouse of auctions, — foreclosures, REOs, short sales, distressed properties, land, new construction — you name it, they probably sell it.
Definitely check out the auction calendar, and make a trip to visit some Santa Barbara auctions. You never know who you might meet at an auction – maybe your future business partner?
5. Realtor.com
Realtor.com, as the largest platform for searching the MLS (multiple listing service), offers a wealth of information on available properties. While it may sometimes be confusing and display inconsistent data, the website does provide useful features that can enhance your property search experience.
One valuable tool offered by Realtor.com is the ability to set up search alerts. By specifying your criteria and preferences, you can receive notifications when a broker in your desired neighborhood adds a new listing. These alerts can be incredibly beneficial in staying up-to-date with the latest properties that match your investment objectives.
However, it is important to recognize that building a solid relationship with an excellent Realtor goes beyond relying solely on the website. A professional Realtor can provide personalized guidance, expert market knowledge, and a deep understanding of your specific needs and goals. Establishing this relationship allows you to leverage their expertise, access off-market opportunities, and gain valuable insights that may not be readily available through the website alone.
A skilled Realtor can offer comprehensive support throughout your investment journey. They can help you navigate the complexities of real estate transactions, provide guidance on property valuations, negotiate on your behalf, and offer recommendations based on their market expertise. Their industry connections and access to exclusive listings can give you a competitive edge in finding the best investment opportunities.
When selecting a Realtor, consider their experience, track record, and local market knowledge. Seek recommendations, conduct interviews, and evaluate their ability to understand your investment objectives. Building a strong and trustworthy relationship with a Realtor can be instrumental in achieving long-term success in real estate investment.
While Realtor.com offers useful tools, it is the combination of a reliable website and a competent Realtor that can provide a comprehensive and effective approach to your investment endeavors. By utilizing both resources, you can optimize your property search, stay informed about new listings, and benefit from the personalized guidance and expertise of a skilled professional. alerts and other tools that help you get alerted when a broker in your neighborhood has added a listing. If you’re serious about investing, you probably want to form a good relationship with an excellent Realtor, rather than just the website.
6. Walkscore
Most investors overlook Walkscore.com – a big mistake.
Walkscore tells you a ton about any given address. It tells you how a potential renter or buyer will evaluate it – what’s nearby and how long it takes to access.
It’s also a fantastic tool to target areas that are underpriced for their amenities. If an area has a really high walkscore and low prices, chances are good that prices will rise in the next few years. There’s big exceptions – but walkability is a really key factor in Santa Barbara investment.
Those tools will help you to understand the Santa Barbara area market, if you take the time to use them. Do your homework, and understand the market before you start dumping your hard-earned money into a property.
You can always give us a call (805)505-7373 – we love to partner up with investors, and we’ve got great terms.
If you’re looking to access to local Santa Barbara investment properties, great!