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California voters approved a program to help qualified buyers cover part of the down payment on newly built homes through a repayable loan.
The program will allow California to issue up to $25B in bonds, funding loans of up to ~17% of a home's price; purchase-price limits apply.
Buyers must contribute at least ~3% toward the down payment; a primary mortgage covers remaining costs, and both loans must be repaid.
A mortgage broker said the additional loan could help some buyers avoid private mortgage insurance, potentially eliminating one component of their monthly housing costs.
Eligible buyers must have lived in California for at least 1 yr, earn at most twice the area's median income, and occupy the home.

The measure would create a state-backed second mortgage for qualifying buyers of certain newly built California homes, with buyers contributing at least 3% upfront.
Assistance could cover up to 17% of the purchase price, combining with the buyer’s funds to reach 20%, while a primary mortgage covers the rest.
The state could issue up to $25B in revenue bonds, with participating homeowners’ loan payments intended to repay investors and cover program costs.
The down-payment barrier matters because many California families, especially Latino households facing higher housing-cost pressure, may afford monthly payments yet struggle to save upfront cash.
On November 3, 2026, California voters will decide whether this loan-based plan for qualifying new homes merits a statewide test at scale.

The ballot measure proposed a California down payment loan program of up to $25B, funded by bonds and repaid through loan income, not taxes.
It said borrowers had to buy a newly built or never-sold home in California, contribute at least 3% down, and could borrow up to 17%.
The measure did not require first-time buyer status, but income could not exceed 200% of local median, with county-based caps and sales-price limits.
Support came from labor groups, a Real Estate trade group, and a state political party; opponents said the measure would subsidize costly construction.
Other terms still needed details, including the second mortgage rate; the policy center said it likely would exceed conventional 30-yr mortgage rates near 7%.

California homeowners 55+ may transfer an original home's taxable value to a replacement principal residence anywhere in the state, instead of restarting at market value.
To qualify, you generally must be 55+ when the original home sells, use both homes as principal residences, and buy or build within 2 years.
The replacement home can be any value, but staying within the rule's value limits preserves the transfer cleanly; amounts above the limit get added.
If you buy first and sell later, the transfer starts with the later transaction, full-market taxes may apply temporarily, and the state offers no refund.
The benefit remains available, can be used up to 3 times, and requires a county assessor claim within 3 years to protect full relief.

In the current national luxury ranking, Santa Barbara's 93108 stood at No. 9, placing the local ZIP among the country's priciest residential markets.
The median sale price in Santa Barbara's 93108 reached $5.295M, clearing the $5M threshold and underscoring how elevated top-tier pricing became in 2026.
Santa Barbara's placement also meant it joined California's group of six ZIP codes that finished inside the national top 10 for 2026.
For market watchers, Santa Barbara's top-10 finish kept 93108 visible in national luxury conversations and showed the area's pricing remained among the country's highest.
Santa Barbara ended the year inside a record-setting national ranking that saw luxury residential pricing push further into uncharted territory nationwide in 2026.

PRICE REDUCED!! This HUD home has both living and family rooms, a fireplace and a 2 car garage, and is just waiting for your TLC!

BACK ON MARKET! Huge Mesa Oaks home on park like .86 acres, zoned for horses. Six bedrooms, solid oak cabinets/windows throughout. Beautiful wood floors on 2nd level. Whole home water filtration system, central A/C downstairs, laundry rm w/3 washers & 2 dryers. RO system, Rinnai on demand hot water. RV parking.

The “11th hour of the 11th day of the 11th month" of 1918 signaled the end of World War I.
It's honored as Veterans Day to remember the men and women who have served, and continue to serve during times of war, conflict and peace.
Salute to all heroes, and thank you for your service.personnel who served the United States in all wars, particularly living veterans.
To those in uniform serving today and to those who have served in the past, we honor you today and every day.
For your service, your bravery and your hard work, we thank you.

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