Oprah Winfrey’s Montecito CA home has appreciated well in a solid Santa Barbara California real estate market.

By Stephen Downarowicz • March 8th, 2008

Montecito, Calif:

Montecito California estate property of Oprah Winfrey

Oprah Winfrey is a savy business woman, as demonstrated in her success as a media mogul. She shows the same business acumen in residential real estate with her acquisition of her Santa Barbara estates purchase in Montecito, a small affluent comunity included in the Santa Barbara real estate market area. Oprah paid $52 million in 2001 for the 23,000+ sq.ft. Montecito California home. A luxury Montecito estate in Georgian design. This Santa Barbara real estate gem is her California residence which she has named "Promised Land." The property was recently appraised at just under $85 million but our www.RareEstates.com estimate would be above $90 million based on other properties sold and now on the market in the Montecito California real estate marketplace. Oprah Winfrey is very guarded when it comes to the privacy of her home, situated on about 45 acres. At the Barack Obama fund raiser event she hosted, invited visitors were limousined in and restricted to specific areas on the property and not allowed inside the home. Photos were limited to professionally hired staff only. See all Montecito homes for sale in Oprah’s neighborhood now.

The Santa Barbara real estate market in the estate segment areas of Montecito real estate and Hope Ranch real estate combined for 2007 as compared to 2006, showed a 18.8% increase of median home prices, which continues a trend starting in 2000. 2008 compare to 2007 through August is up over 29%. The Santa Barbara estate marketplace has maintained its strength through the national downturn. The Santa Barbara real estate and unique signature property market requires well informed and invloved local expertise that is essential for the finding, successful acquisition, sale, and value analysis of rare estate properties. Custom searches of Santa Barbara beach properties, estates, Montecito homes for sale or Hope Ranch real estate information are available at http://www.RareEstates.com, a fine home sale transaction network, having specialized local resources and knowledge of unadvertised luxury properties and qualified estate property investors searching for properties. For exclusive information about privately offered estate properties in the Montecito, Santa Barbara or Hope Ranch Marketplace please direct your inquiries here.

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