Luxury Real Estate

2010 Feb 7th

New Luxury Bank Owned Opportunity - Montecito Foreclosure with Great Views $3.5 Million

Categories: Foreclosures & Bank Owned, Luxury Real Estate, Montecito

One of the few luxury banked owned homes to come onto the market happened this last week. The bank will be taking a look at offers early this coming week. Wonderful ocean, harbor and city views on roughly 1.3+/-acres. Currently under construction although much of the home is complete. 3 bedrooms, 2.5 baths with a guest home, 3 car garage which is still under construction and in the beginning stage of being converted into a 2 bedroom guest home. Can be converted back to garage or will need to submit permits to continue work. This is a true opportunity.

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Further Reading:

For information on Real Estate here in Santa Barbara, Montecito and/or our surrounding areas, as well as any other aspects of life in our area, please don’t hesitate to contact Kevin Schmidtchen at Sotheby’s Int’l Realty.

Thank you for reading. I hope you find Santa Barbara Real Estate Voice informative. Please feel free to contact me or comment below with any thoughts.

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2010 Feb 4th

The Top 10 Most Expensive Real Estate Sales in Montecito CA. in 2009.

Categories: Luxury Real Estate, Montecito

The coastal paradise of Montecito CA. seems to always find its place in the top 10 most expensive neighborhoods in the United States. It is not hard to argue with this based on the quality of life that it offers with the small village feel, gorgeous scenery, ocean views and coastal beaches, access to Santa Barbara etc.

In 2009, after a slower start to the year, there continued to be the buyer demand we have been used to for quality properties in Montecito and Santa Barbara in general. Although prices have dropped 20-35% from the peak a few years back, the top 10 MLS reported sales in Montecito still ended up being extremely impressive.

Most Expensive Montecito Real Estate Sales 2009

Rockbridge Road, Montecito CA., 93108 and sold for $25,279,000. The highest sale within this luxury market was a majestic French Country estate located on 7 plus acres of stunning grounds, including 2 guest homes, the highest quality craftsmanship, lofty beamed ceilings, a gourmet kitchen, a pool, and much more.
2815 Cima del Mundo, Montecito CA., 93108, sold for $18,500,000. Newly constructed luxury estate located on roughly five acres, Don Nulty design, 12000+ sqft with huge ocean, harbor, mountain views, a pool, a pool cabana, a tennis court as well as a two bedroom guest house. An amazing estate property.
2549 Sycamore Canyon Road, Montecito CA., 93108, sold for $15,310,000. The majestic ”Val Verde” Estate located on roughly 17.4 acres. Gorgeous main residence with 2 guest homes, stunning lush grounds with reflecting pond, a seasonal creek, a pool, fountains and spectacular gardens.
1127 Hill Road, Montecito CA., 93108, sold for $11,000,000. Close to Butterfly Beach, this tropical style beach estate includes a newly completed main residence with good ocean & island views, a charming guest home and a pool with a pool house. Wonderful architectural elements throughout the home. Open floor plan that is great for entertaining with a gourmet kitchen as well as floor to ceiling sliding doors in the living area that bring the outdoors inside.
1144 East Mountain Drive, Montecito CA., 93108, sold for $9,560,000. Circa 1939 Edwards & Plunkett Monterey Colonial estate located on approximately 5.28 lush acres. A beautiful gated estate with incredible architectural elements, a spacious main home including 5 suites, a spectacular 3 bedroom guest home, a charming art studio, as well as a large 9-car garage. Spectacular grounds with ocean views, a tennis court, a pool, a spa, a brick courtyard, pergolas, rose gardens, putting greens and much more.
269 Las Entradas Drive, Montecito CA., 93108, sold for $9,000,000. A truly romantic residence located on a promontory knoll with over 2 acres of mature landscaping with a pool and a guest home. Wrap-around panoramic ocean, harbor and mountain views from the main residence. Newly remodeled with formal living and dining areas, a library, a spacious kitchen/family room all opening to view loggias, terraces and lush gardens.
1504 East Mountain Drive, Montecito CA., 93108, sold for $8,875,000. This ocean view villa was a wonderful treasure located next to the famous San Ysidro Ranch. Pool, spa, fountains, amazing ocean views, wine cellar and more.
1631 Posilipo Lane, Montecito CA., 93108, sold for $8,300,000. Truly On the Sand! A terrific beach location, this home sits on approximately .5 acres with 75′ of sand frontage. A true ‘best buy’, this property offers a fantastic opportunity to live in Montecito on the ocean.
798 Park Hill Lane, Montecito CA., 93108, sold for $8,200,000. ‘Villa Nova’ is a classical Tuscan estate of timeless design and elegance nestled high in the foothills of Montecito. This private residence with approximately 1.43 acres enjoys good ocean, island and mountain views in a prestigious location. Exquisite house with a guest casita and a pool.
735 Fuera Lane, Montecito CA., 93108, sold for $7,600,000. Architecturally historic 1920’s French Provincial estate lovingly remodeled blending modern amenities with charm of the past. This home is set in the foothills of Montecito on roughly 1.2 magical acres. Specimen gardens, a pool, 2 additional structures, a guest home, a cabana and more.

Further Reading:

Thank you for reading. I hope you find Santa Barbara Real Estate Voice informative. Please feel free to contact me or comment below with any thoughts.

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2009 Nov 18th

The Top 10 Most Expensive Beachfront Real Estate Sales in Santa Barbara, Montecito and Carpinteria CA.

Categories: Luxury Real Estate, Santa Barbara, The Oceanfront Areas

Year to date, here is a list of the top 5 most expensive beachfront real estate sales for 2009 here in the Santa Barbara, Montecito, Summerland and Carpinteria CA areas. Most of the beachfront sales in the last 15 months have been at prices about 30-40% from the peaks in early 2008. Of all the markets here in the Santa Barbara area, our luxury beach front real estate has most likely taken Santa Barbara Montecito Oceanfront Beachfront Real Estate Sales 2009 the hardest hit in values.

4385 Marina Drive, Santa Barbara CA., 93108. Sold for $12,800,000. Rising from a sun-drenched promontory overlooking the Pacific, “Terra Bella” is a magical romantic Italian style villa embracing 13,500 +/- sq. ft. of old world ambiance with stunning ocean and island views, numerous verandas and 2.9 acres of classical gardens. Amenities include a grand public room, 9 bedrooms, eat-in kitchen, library, media room, fitness room, office, guest apartment, 6 car garage, stables and a personal vineyard….true comfortable elegance.
1631 Posilipo Lane, Montecito CA., 93108. Sold for $8,300,000. Toes in the Sand. Noted as one of the best beach locations and beach areas in magical Montecito, this home sits on approx 1/2 acre, with roughly 75 feet of sand. This property offers its new owner a fantastic opportunity to not just vacation in Paradise and the American Riviera, but to live in it. These opportunities simply do not come up that often.
3447 / 3445 Padaro Lane, Carpinteria CA., 93013. Sold for $6,350,000. A true beach house located directly on the sand in a wonderful part of Padaro Cove. Large expansive wooden deck, wonderful view windows that bring the outdoors inside. There is a detached private 2 bedroom guest home. Newer landscape, outdoor shower, newer carpet and paint. A true Beach Home ready for new owners.
3284 Beach Club Road, Carpinteria CA., 93013. Sold for $6,100,000. A very private hideaway tucked away at the coveted cove on Beach Club Rd. This wonderful home offers tremendous views of the ocean & mountains. A charming beachfront 2 bedroom home plus loft is for the first time on the market. A magical cottage offers a special ambiance in which to enjoy dramatic sunrises, dining al fresco, & the comfortable luxury of seaside living only minutes from Montecito and Santa Barbara.
2425 East Finney Street, Summerland CA., 93067. Sold for $5,950,000. Enjoy the undeniable breathtaking ocean views from this bright & charming Cape Cod beach house! Designed by local renowned architect Andy Neumann, there are 4 bedrooms plus and office, 5.5 baths, hardwood floors, cathedral beam ceilings, a magical spacious master suite, astounding ocean views from almost every room, fresh colorful landscaping, decking, brick patios & a 3-car garage. Rarely available in this location, this beachfront home is privately located at end of Finney Street w/easy beach access.

Further Reading:

Thank you for reading. I hope you find Santa Barbara Real Estate Voice informative. Please feel free to contact me or comment below with any thoughts.

For more information on Real Estate here in Santa Barbara, Montecito and/or our surrounding areas, as well as any other aspects of life in the Santa Barbara area, please don’t hesitate to contact Kevin Schmidtchen at Sotheby’s Int’l Realty.

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2009 Nov 11th

The Top 10 Most Expensive Condo / Townhome Real Estate Sales in Santa Barbara CA in 2009

Categories: Luxury Real Estate, Market Statistics / Updates, Santa Barbara

Year to date, here is a list of the top 10 most expensive condo / townhome real estate sales for 2009 here in the Santa Barbara area. Most of the sales in the last 15 months have been at prices about 20-25% below the peak in late 2007.

4763 Sandyland Road, Carpinteria CA., 93013. Sold for $4,000,000. Classic Santa Barbara CA living in this beautiful, oceanfront - toes in the sand, gated 3 bedroom, 2.5 bath beach home. Enjoy wonderful unobstructed ocean, island and mountain views, sea breezes & breaking scenery. Amenities include a large living room and luxury master suite, large deck and spa just feet from the sand. A gourmet kitchen, perfect for entertaining, 3,000+ sq.ft. home, minutes to Montecito and Santa Barbara.
531 Chapala Street #A, Santa Barbara CA., 93101. Sold for $1,875,000. Designed by Architect Jeff Shelton with an open floor plan and high ceilings. This gracious home surrounds an open-air courtyard. “El Andaluz” exudes quality throughout, featuring select appliances, fixtures and high-tech internet capabilities and a private 2 car garage, with an individual elevator servicing each home. These elite, Moroccan influenced homes capture the essence of Santa Barbara living.
79 Seaview Drive, Montecito CA., 93108. Sold for $1,450,000. A terrific buy, this beautiful, extensively remodeled unit has heated walnut floors, crown molding, wainscoting and stained wood beams. Wonderful country kitchen with farm sink, custom tile & granite counter tops and lovely remodeled baths. Montecito Shores is an oceanfront community with a guard gate, pool, tennis facilities etc. Located on the south facing shoreline just a few minutes walk to the beach.
121 West De la Guerra Street #14, Santa Barbara CA., 93101. Sold for $1,400,000. 1 of 11 luxury residences in the heart of Santa Barbara, the American Riviera. Experience the unique Santa Barbara lifestyle in this Spanish-styled downtown setting w/a sophisticated contemporary flair. Spectacular floor plan, with top-of-the-line finishes & amenities. Located close to restaurants, shopping, movie & performing arts theaters & all downtown has to offer.
121 Via Alicia, Montecito CA., 93108. Sold for $1,400,000. Luxury town home in gated “Loma Alicia” with over 15 acres of open space, ocean, mountain and city views, community pool & spa. Two bedroom suites plus office, great kitchen with breakfast & family rooms, 3 fireplaces & 2 car garage.
657 Del Parque Drive #E, Santa Barbara CA., 93103. Sold for $1,300,000. Rare beach front at East Beach in Santa Barbara! White water views, volleyball courts and more! A gated community with 3 bedrooms and 2 baths, 2 wood burning fireplaces, a 2 car attached garage, a large floor plan plus permanent stairs to a finished 400 sq ft (per owner) sky lit finished attic! Community pool area.
504 East Arrellega Street, Santa Barbara CA., 93101. Sold for $1,237,000. In classic Craftsman Style, Arrellaga & Olive is a newer 3 unit condo development in the upper east area in Santa Barbara. 504 East Arrellaga is the stand alone 3 bedroom 3.5 bath home with 2 master suites, making this perfect for dual living and privacy in designer style.
121 West De la Guerra Street #13, Santa Barbara CA., 93101. Sold for $1,200,000. 1 of 11 luxury residences in the heart of Santa Barbara, the American Riviera. Experience the unique Santa Barbara lifestyle in this Spanish-styled downtown setting w/a sophisticated contemporary flair. Spectacular floor plan, with top-of-the-line finishes & amenities. Located close to restaurants, shopping, movie & performing arts theaters & all downtown has to offer.
105 West De la Guerra Street, Santa Barbara CA., 93101. Sold for $1,095,000. A large 2 bedroom 2.5 bath condo with 3 patios and a private garage with direct access in one of Santa Barbara’s newest luxury developments. Paseo Chapala is located in the heart of downtown. Spacious luxury inside, vibrant city life outside. Elevator access, gourmet kitchen with Granite & Stainless Monogram appliances, wood flooring, built in speakers, separate tub / shower, 2 fireplaces.
414 Por la Mar Circle, Santa Barbara CA., 93103. Sold for $1,050,000. Beautifully remodeled & rarely available 3 bedroom El Escorial Villas ground floor plan with a fire place in the living room, huge master suite & large patio near the pool area. El Escorial Villas is a resort-like setting with a beautiful pool & spa, health club, tennis courts, gated with 24-hour security & is located across from East Beach. Minutes to Montecito’s Coast Village Area & within easy access to downtown Santa Barbara.

View: Current Luxury Townhome / Condo Listings $1 Million and Above

Further Reading:

Thank you for reading. I hope you find Santa Barbara Real Estate Voice informative. Please feel free to contact me or comment below with any thoughts.

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2009 Sep 29th

The Latest Chapala Luxury Townhome Project, El Andaluz - Santa Barbara CA.

Categories: Downtown Neighborhood, Luxury Real Estate

The familiar designs of Jeff Shelton here in Santa Barbara, CA. are now well recognized. His latest development called Santa Barbara Luxury Townhomes

El Andaluz, located at 531 Chapala Street is a 3-story, Moroccan influenced condominium project designed around an open-air courtyard. A total of seven very high quality residential homes with luxurious finishes are now for sale. According to the website, full construction of the complex will be completed by the end of 2009, 3 of the 7 have sold and one is currently pending sale (under contract).

Based on the results of last few major projects that are lining this corridor, El Andaluz is doing fairly well and meeting buyers needs on both the product and price point.

The units asking prices are mostly around the $2.4 million price point and list the following as features: Santa Barbara Luxury Townhomes Chapala Street

ranging from approximately 2100 - 3500 sqft. of living space
ranging from approximately 300-400 sqft. of open deck/patio space
private garages and elevators
10 - 12 ft. high ceilings
2-3 bedrooms with 2-3.5 baths

Further Reading:

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2009 Sep 16th

Montecito CA. Luxury Real Estate Sales - Statistics Through Sept 15th, 2009

Categories: Luxury Real Estate, Market Statistics / Updates, Montecito

Here and there I am proposed various questions from clients about the luxury market here in Montecito CA., such as where are the most famous homes located and/or what is the most expensive home to sell this year or any year for that matter. Many times though it is as “simple” as what is the true definition of luxury real estate here in the Montecito area. The answer is that there is no exact definition of luxury real estate and this varies greatly depending on the circumstances, whom you talk to, location in our town etc. But in order to provide some statistics, I am going to break it down with price being the simple parameter. When speaking about Montecito, the luxury market is generally referred to as anything above $5 Million.

– Thus for our purposes here, I am going to refer to the luxury market here in Montecito as any sale over the $5 million mark.

During the first 8 months of 2009, there were a total of 16 closed sales of luxury single family homes here in the Montecito area. As of Sept 15th, 2009, there was only 1 property in this luxury market that was pending sale (under contract).

The highest sale within this luxury market was a majestic French Country estate located on 7 plus acres of stunning grounds, including 2 guest homes, the highest quality craftsmanship, lofty beamed ceilings, a gourmet kitchen, a pool, and much more. The property was located on Rockbridge Road, Montecito CA., 93108 and sold for $25,279,000.

Montecito Luxury Real Estate Sales 2009

The 15 other sales of luxury property in Montecito so far this year were:

815 Cima del Mundo, Montecito CA., 93108, sold for $18,500,000. Newly constructed luxury estate located on roughly five acres, Don Nulty design, 12000+ sqft with huge ocean, harbor, mountain views, a pool, a pool cabana, a tennis court as well as a two bedroom guest house. An amazing estate property.
2549 Sycamore Canyon Road, Montecito CA., 93108, sold for $15,310,000. The majestic ”Val Verde” Estate located on roughly 17.4 acres. Gorgeous main residence with 2 guest homes, stunning lush grounds with reflecting pond, a seasonal creek, a pool, fountains and spectacular gardens.
1127 Hill Road, Montecito CA., 93108, sold for $11,000,000. Close to Butterfly Beach, this tropical style beach estate includes a newly completed main residence with good ocean & island views, a charming guest home and a pool with a pool house. Wonderful architectural elements throughout the home. Open floor plan that is great for entertaining with a gourmet kitchen as well as floor to ceiling sliding doors in the living area that bring the outdoors inside.
1144 East Mountain Drive, Montecito CA., 93108, sold for $9,560,000. Circa 1939 Edwards & Plunkett Monterey Colonial estate located on approximately 5.28 lush acres. A beautiful gated estate with incredible architectural elements, a spacious main home including 5 suites, a spectacular 3 bedroom guest home, a charming art studio, as well as a large 9-car garage. Spectacular grounds with ocean views, a tennis court, a pool, a spa, a brick courtyard, pergolas, rose gardens, putting greens and much more.
269 Las Entradas Drive, Montecito CA., 93108, sold for $9,000,000. A truly romantic residence located on a promontory knoll with over 2 acres of mature landscaping with a pool and a guest home. Wrap-around panoramic ocean, harbor and mountain views from the main residence. Newly remodeled with formal living and dining areas, a library, a spacious kitchen/family room all opening to view loggias, terraces and lush gardens.
1631 Posilipo Lane, Montecito CA., 93108, sold for $8,300,000. Truly On the Sand! A terrific beach location, this home sits on approximately .5 acres with 75′ of sand frontage. A true ‘best buy’, this property offers a fantastic opportunity to live in Montecito on the ocean.
798 Park Hill Lane, Montecito CA., 93108, sold for $8,200,000. ‘Villa Nova’ is a classical Tuscan estate of timeless design and elegance nestled high in the foothills of Montecito. This private residence with approximately 1.43 acres enjoys good ocean, island and mountain views in a prestigious location. Exquisite house with a guest casita and a pool.
735 Fuera Lane, Montecito CA., 93108, sold for $7,600,000. Architecturally historic 1920’s French Provincial estate lovingly remodeled blending modern amenities with charm of the past. This home is set in the foothills of Montecito on roughly 1.2 magical acres. Specimen gardens, a pool, 2 additional structures, a guest home, a cabana and more.
1525 Las Tunas Road, Montecito CA., 93108, sold for $7,150,000. This exquisite French Country home is located on approximately 1.39 acres and has been expanded and lovingly remodeled to include a grand living room, a large master suite, a media/game room, a gourmet Provence farmhouse kitchen/family room and much more. Seasonal stream meanders past a stone terraced swimming pool with spa and rose gardens.
616 Juan Crespi Lane, Montecito CA., 93108, sold for $6,988,000. A romantic single story Craftsman home located on just over 1 acre. A large 6 bedroom, 8 bath residence with a pool, a spa, fruit trees and much more.
1340 East Mountain Drive, Montecito CA., 93108, sold for $6,700,000. A Mediterranean estate set on a magnificent 2.5+/- acres with mature oaks. Beautiful ocean and mountain views with privacy. Four bedrooms, four and one-half bathrooms, three fireplaces, a pool, a three car garage, a motor court and more.
777 Ayala Lane, Montecito CA., 93108, sold for $5,975,000. Romantic, historic restored George Washington Smith estate located on roughly 1.56 lushly landscaped acres. The main home features 4 bedrooms, a grand living room, a dining room and a garden loggia. Original tile floors with soaring ceilings, intimate outdoor terraces and colorful gardens. A 2 bedroom guest quarters, a pool, a spa, a tennis court, a lath house and a charming restored guest studio.
330 Malaga Drive, Montecito CA., 93108, sold for $5,550,000. Outstanding Spanish Revival estate privately situated on roughly 1.5 stunning acres with captivating mountain views! The main residence features sun drenched living spaces, a grand living room, a formal dining area, a fabulous kitchen, a family/media room, lofty ceilings and much more. Large guest house, a pool, a spa, gardens, lush vegetation with mature oaks.
566 Picacho Lane, Montecito CA., 93108, sold for $5,450,000. A stunning estate located on the prestigious Picacho Lane. This home has been completely remodeled and consists of three bedrooms and four and a half baths with a sitting room in the master suite. The estate also includes a swimming pool and an attached three car garage.
28 Hammond Drive, Montecito CA., 93108, sold for $5,300,000. A Beautifully appointed and elegant two story home in Sea Meadow with delightful Cape Cod design elements throughout. Rich walnut floors, expertly crafted wood ceilings and abundant French doors and windows to garden views and terraces accent the wonderful and bright floor plan. The guarded & gatd Sea Meadow enclave features a clubhouse, pool, spa & tennis.

If you would like further information and or pictures of any of these homes, please feel free to contact me.

Overall, the luxury market here in Montecito this year has been slower in comparison to the first 8 months of the previous few years. Prices overall have also taken a pretty sizable hit in the last 12 months with much of this market dropping 25-40% from its peak. Below you can also view the luxury sales in Santa Barbara proper, Hope Ranch and Carpinteria.

If you would like a more complete update on any of these properties or any part of our Luxury Market and/or any other areas within Santa Barbara, Montecito, Carpinteria, Goleta, Hope Ranch, Summerland, and/or The Santa Ynez Valley, please feel free to contact me.

View: Current Montecito Luxury Real Estate Listings $5 Million and Above

Further Reading:

Thank you for reading. I hope you find Santa Barbara Real Estate Voice informative. Please feel free to contact me or comment below with any thoughts.

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2009 Sep 16th

Carpinteria CA. Luxury Real Estate Sales - Statistics Through Sept 15th, 2009

Categories: Carpinteria, Luxury Real Estate, Market Statistics / Updates

Here and there I am proposed various questions from clients about the luxury market here in Carpinteria CA., such as where are the most famous homes located and/or what is the most expensive home to sell this year or any year for that matter. Many times though it is as “simple” as what is the true definition of luxury real estate here in the Carpinteria area. The answer is that there is no exact definition of luxury real estate and this varies greatly depending on the circumstances, whom you talk to, location in our town etc. But in order to provide some statistics, I am going to break it down with price being the simple parameter.

– Thus for our purposes here, I am going to refer to the luxury market here in Carpinteria as any sale over the $4 million mark.

During the first 8 months of 2009, there were a total of 4 closed sales of luxury single family homes here in the Carpinteria area. As of Sept 15th, 2009, there were no properties in this luxury market that were pending sale (under contract).

The highest sale within this luxury market was a true beach style home located directly on the sand with a main residence and a guest home. A contemporary style home that has been extensively remodeled in the main residence, but not much done to the guest home. The property was located at 3447 Padaro Lane, Carpinteria CA., 93013 and sold in March for $6,350,000.

Carpinteria CA Luxury Real Estate

The 3 other sales of luxury property in Carpinteria so far this year were:

3284 Beach Club Road, Carpinteria CA., 93013, sold for $6,100,000. A private hideaway tucked away at the coveted end of the cove on Beach Club Road. This vacation feeling home offers breathtaking views of the ocean and islands. A charming beachfront home consisting of 2 bedrooms, 2 baths and a loft. Never before been on the market. This home offers a special ambiance in which to enjoy dramatic sunrises, dining al fresco and the comfortable luxury of seaside living.
168 Rincon Point Road, Carpinteria CA., 93013, sold for $5,500,000. A beachfront home at The Rincon. Located just south of Santa Barbara and on the sand in the gated Rincon Beach Colony, best known for its world-class surfing. The Cape Cod style home offers surf-breaking views of the Pacific Ocean from almost every room. There are 3 bedrooms, 4 baths, plus a studio and bath over the detached garage. A perfect getaway to an ocean lover’s paradise.
4763 Sandyland Road, Carpinteria CA., 93013, sold for $4,000,000. Classic beach style living in this beautiful, oceanfront, “on the sand” home. A gated 3 bedroom, 2.5 bath true beach home. Enjoy ocean, island and mountain views and the luxury of the beach at your “toestep”. A perfect home for entertaining with a large open floorplan and gourmet kitchen.

If you would like further information and or pictures of any of these homes, please feel free to contact me.

Overall, the luxury market here in Carpinteria this year has been slower in comparison to the first 8 months of the previous few years. Prices overall have also taken a pretty sizable hit in the last 12 months with much of this market dropping 25-40% from its peak. Below you can also view the luxury sales in Santa Barbara proper, Montecito as well as Hope Ranch.

View: Current Carpinteria Luxury Real Estate Listings $4 Million and Above

Further Reading:

Thank you for reading. I hope you find Santa Barbara Real Estate Voice informative. Please feel free to contact me or comment below with any thoughts.

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2009 Sep 15th

Hope Ranch CA. Luxury Real Estate Sales - Statistics Through Sept 15th, 2009

Categories: Hope Ranch, Luxury Real Estate, Market Statistics / Updates

Here and there I am asked from clients and non clients various questions about the luxury market here in Hope Ranch CA., such as do you know where famous homes are located at and who lives there and/or what is the most expensive home to sell this year or any year for that matter. Most of the time though it is as “simple” as what is the true definition of luxury real estate here in the Hope Ranch area of Santa Barbara. The answer is that there is no exact definition of luxury real estate and this varies greatly depending on the circumstances, whom you talk to, location in our town etc. But in order to provide some statistics, I am going to break it down with price being the simple parameter.

– Thus for our purposes here, I am going to refer to the luxury market here in Hope Ranch CA. as any sale over the $4 million mark.

During the first 8 months of 2009, there was a total of only 1 closed sale of a luxury single family home here in the Hope Ranch area. As of Sept 15th, 2009 though, there were 3 properties in this luxury market that were pending sale (under contract).

The highest (only) sale within this luxury market was a masterful Mediterranean home behind handcrafted wrought iron gates situated at the end of a long brick drive way. The home sits on the top of a gentle knoll overlooking Laguna Blanca Lake in the center of Hope Ranch. Truly one of Hope Ranch’s finest residences. This 5 bedroom with 5 full baths & 2 half baths is situated on nearly 3 view acres. There is an over sized infinity pool with jacuzzi/spa, an office area, a home theater, a wine cellar, a music room, a game room and more. The property was located at 4280 Via Esperanza, Santa Barbara CA., 93110 and sold in June for $8,200,000.

hope ranch luxury real estate

Overall, the luxury market here in Hope Ranch this year has been a fair amount slower in comparison to the first 8 months of the previous few years. Prices overall have also taken a pretty sizable hit in the last 12 months with much of this market dropping 25-40% from its peak. Below you can also view the luxury sales in Santa Barbara proper, Montecito and Carpinteria.

View: Current Hope Ranch Luxury Real Estate Listings $4 Million and Above

Further Reading:

Thank you for reading. I hope you find Santa Barbara Real Estate Voice informative. Please feel free to contact me or comment below with any thoughts.

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2009 Sep 15th

Santa Barbara Luxury Real Estate Sales - Statistics Through Sept 15th, 2009

Categories: Luxury Real Estate, Market Statistics / Updates, Santa Barbara

Here and there I am proposed various questions from clients about the luxury market here in Santa Barbara CA., such as where are the most luxurious homes located and/or what is the most expensive sale this year. Many times though it is as “simple” as what is the true definition of luxury real estate here in our area. The answer is that there is no exact definition of luxury real estate and this varies greatly depending on the circumstances, whom you talk to, location in our town etc. But in order to provide some statistics, I am going to break it down with price being the simple parameter.

–For our purposes here, I am going to refer to the luxury market here in Santa Barbara proper as any sale over the $2.5 million mark.

During the first 8 months of 2009, there were only a total of 3 closed sales of luxury single family homes here in Santa Barbara proper. As of Sept 15th, 2009, there were 2 properties in this luxury market that were pending sale (under contract).

The highest sale within this luxury market was an exquisitely remodeled Mediterranean home located on the Riviera with ocean, island and harbor views. Highlights of the home include 4 bedroom suites, lofty beamed ceilings, a gourmet kitchen, a pool, and more. The property was located at 939 Arbolado Road, Santa Barbara CA, 93103 and sold for $3,225,000.

Santa Barbara Luxury Real Estate

The 2 other sales of luxury property so far in Santa Barbara proper this year were:

256 Loma Media Road, Santa Barbara CA., 93103. This property was a Spanish masterpiece again with sweeping views of the ocean, islands and harbor as well as lush gardens. The property sold in May for $2,775,000.
1415 Mission Ridge Road, Santa Barbara CA., 93103. This property was also an ocean view Riviera home with wonderful workmanship and lush grounds. The property sold in July for $2,575,000.

Overall, the luxury market here in Santa Barbara proper was a decent amount slower in comparison to the first 8 months of the last few years. Overall, most of our sales so far this year in the luxury market were concentrated in Montecito, Hope Ranch and Carpinteria.

In Santa Barbara proper, most of the activity for the first part of the year has been in the $400,000 to $2 Million price range.

View: Current Santa Barbara Luxury Real Estate Listings $2.5 Million and Above

Further Reading:

Thank you for reading. I hope you find Santa Barbara Real Estate Voice informative. Please feel free to contact me or comment below with any thoughts.

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2009 Aug 18th

Santa Barbara CA. Real Estate Among “Pricey Cities That Pay Off”

Categories: Luxury Real Estate, Santa Barbara

10 Pricey Cities that Pay Off

by Matthew Bandyk of US News and World Report Santa Barbara CA

(short excerpt)

“When you pay a lot of money for something, you hope to get a lot of value in return. Despite the housing downturn and the number of cheap houses it has left in its wake, there is still plenty of expensive land left. According to the Global Property Guide, an online real estate investor’s guide, New York might have slipped from the second-most-expensive city in the world in 2008 to the sixth most expensive in 2009, but an average 120-square-meter (1,300-square-foot) apartment in the central business district will still cost you a hefty $14,898 per square meter.

So why are people willing to pay a fortune to live in certain places? And what are they getting in return for their money? According to a recent working paper from University of Michigan economist David Albouy, there’s a great deal of value to be found in those high prices. “ Read Full Article

Santa Barbara CA. is proudly on this list. Only once you live here or have visited often will you understand the quality of life that exists in our town. Santa Barbara’s active, community-minded residents have shaped this metropolitanarea into a well-rounded, multifaceted gem of a place for the discriminating person to live and work, many who are convinced they live in paradise. Known as “The American Riviera,” the mix of so many cultures and people with world travel under their belts makes for an exciting mix of life. Opportunities abound in Santa Barbara to enjoy a life tailored to families as well as the individual’s needs.

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Thank you for reading. I hope you find Santa Barbara Real Estate Voice informative. Please feel free to contact me or comment below with any thoughts.

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