Pacaso, the leading real estate platform that helps people buy and co-own a luxury second home, announced that it has expanded its service to Santa Barbara, California. The company has begun hiring a regional team and is working with a variety of local businesses to support its operations.
"We're thrilled to be expanding our service into Santa Barbara, Known for its beautiful beaches and gorgeous Mediterranean-style homes, along with the backdrop of the Santa Ynez Mountains, Santa Barbara has long been a dream destination for buyers. However, many are left waiting on the sidelines due to escalating prices and a lack of homes for sale. With Pacaso, people looking to purchase a second home here now have a new solution. A small group of families can up-level their buying power through co-ownership of a luxury home. Not only does this make more efficient use of housing stock, but it also redirects second home buyers away from the mid-tier market, freeing up that inventory for local primary homebuyers."
- Pacaso CEO and co-founder, Austin Allison.
"Working with the Pacaso has been a pleasure, and it's obvious to me that the Pacaso team has a passion for their business, and goes above and beyond for their customers, Pacaso brings something new to the table: they only purchase luxury homes in second home destinations, and because they offer up to eight shares of ownership per home, their model actually helps increase inventory in the area."
- Sotheby's International real estate agent Tyler Mearce.
Pacaso partners with all interested real estate agents and brokerages in markets where it operates. Real estate agents representing buyers who purchase a share of a Pacaso home receive a 3% referral commission in addition to 500 RSUs of Pacaso stock as a referral equity bonus. Agents in Santa Barbara who are interested in working with Pacaso can learn more on the company's website.
Pacaso's first listing in the area is a contemporary four-bedroom situated in the hills of Santa Barbara that features stunning ocean, harbor, and mountain views.
Pacaso® (pronounced like "Picasso") modernizes the decades-old practice of co-ownership by creating a marketplace that makes buying, owning, and selling a luxury second home easy. From curating the best listings in top second home markets to offering integrated financing and sales from as little as ⅛ to as much as ½ ownership; upscale interior design; and professional property management, Pacaso provides owners with all the benefits of owning a second home with less hassle. After purchase, Pacaso manages the home on an ongoing basis and supports a frictionless resale process in partnership with a licensed real estate professional.