In an email today, Guy Rivera at Guarantee Mortgage has some good news for those out there with vacation rentals who have struggled with refinances due to the inability to use vacation rental income as a legitimate cash flow source. "Airbnb, a short-term rental service, announced today it is partnering with some of the largest U.S. lenders to allow host income to be used in mortgage applications.The company partnered with Fannie Mae, Quicken Loans, Better Mortgage and Citizens Bank in its latest initiative to consider home-sharing as a tool for earning extra income when it comes to refinancing a home."At Airbnb, we've been able to help many reimagine the home as an asset, a destination, and a contributor to the community," said Nathan Blecharczyk, Airbnb co-founder and chief strategy officer. "Today, some of the nation's largest financial institutions understand that Airbnb is an economic empowerment tool that can generate important income for families, and they are working to recognize this." The company explained when its hosts apply for a refinance, they can include their proof of income from Airbnb in the application. The new partnership will allow lenders to consider Airbnb income when processing the application.Many continue to question Airbnb, saying it could be disrupting the housing market. Many argue the prospect of being able to rent homes out as short-term rentals keeps homeowners from putting their home on the market. However, under this new partnership, the housing industry would be working together with Airbnb to benefit homeowners looking to refinance their home. The initiative was developed with Fannie Mae in order to identify new ways of utilizing home-sharing income and make it possible for homeowners to maximize their investment. The project is part of Fannie Mae's work to find new, innovative ways to expand the availability of affordable mortgage credit". If you are in this same situation, here is Guy's website. See if a refi is in your future. http://guaranteemortgage.com/agents/guy-rivera/
2807 Gaviota, Los Olivos (3/3 on 1.63 acres) $1,150,000 Off the beaten path but still an easy stroll into the village. This is an unusually private location with little to no drive by traffic which is a hard to find this close to town. Private master is upstairs in this model with a cozy gathering space on the first story. The back yard is like a private natural parkland.
1665 N. Refugio, Santa Ynez (main house and full guest house on 5.14 acres) $2,795,000 Some of you may remember this home from last year when the price was 2.9M so now we see it a little lower with some surprises. I encourage you to check it out again if you saw it then as some big improvements have been made. The color palette is now a lovely neutral and taupe and the presentation has been updated. I personally was very impressed with how streamlined, light and bright and inspring the new look is. The same great bones and floor plan are still here. This is at once a large home at nearly 5,000 square feet but due to the smart floor plan, non pretentious design, kitchen everyone will love from intimate cookie making to fancy parties, wide hallways, generous rooms and big open spaces, it really lives like a much cozier space. You get all the room but retain a fun and cohesive floor plan. What's outside is almost as important as what's inside at this property. The duck pond is huge, so huge you can actually fish in it if you want to and there is even a small boat and dock, all under the cover of lush tree canopy. My dauther was with me today and we enjoyed watching the duck congregation doing their thing this afternoon. Quite fun! The pool outback is just right and doesn't intrude on the enjoyment of the parcel. The guest house is very roomy and just far enough away from the main house to create a privacy barrier yet still convenient. The pastures are fenced for your furry friends and there is a small barn where the ducks sleep at night (yes, they liked to be tucked in apparently ... how sweet is that?). A rare treat of a "lifestyle video" can be found here https://www.youtube.com/watch?v=HcvzWQp8nB8. Well done and worth watching.
1552 & 1558 N. Refugio, Santa Ynez (main house and legal second unit on 5 acres) Was $2,368,000 with a new price of $2,234,000. Refugio address but well off the main road accessed by a long private drive. Main house is newer from 1988 but the guest house or legal second unit is remodeled vintage and adorable. The two homes are just separate enough that renting out the guest house is not an impact at all on the main house but close enough to be inclusive for your friends and family.
2900 Highway 135, Los Alamos (historic ranch property on 99.78 acres) Listed at $4,745,00 and sold final for same, $4,745,000. As much a part of the valley as any ranch could be. Created in 1830 (no typo ... really 1830). Can you imagine what Los Alamos was like back then? I've seen these buildings over the years and have always marveled at their authenticity. Many buyers today will appreciate the copious amount of flat usable and plantable acres on this parcel which as many who have looked will attest, its hard to find. Just outside the town itself for a quick nip in for dinner. Gentrified ranch life with authenticty gained honestly by almost two hundred years of curated and well maintained existence. A rare gem for those who really appreciate history. If only those walls could talk!
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Sharon Currie | Realtor BRE#01357602
Berkshire Hathaway Home Services BRE#01317331
Physical: 2933 San Marcos Ave #102, Los Olivos
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