The numbers are in for Santa Barbara Estates that sold in the final quarter of 2009. The high end, luxury estate market in Santa Barbara includes the areas of  Montecito and Hope Ranch as well as Carpinteria(lots of oceanfront) and Summerland. There were a total of 7 properties that closed escrow above the $5,000,000 mark in the past quarter. The year ended with 5 luxury home sales in December above $5,000,000. My favorite house happens to be the most expensive sale for the last quarter at $17,500,000. This is an absolutely gorgeous oceanfront home on Padaro Lane. This Cape Cod home – and being from there myself I can attest that this is an authentic Cape Cod style home – is over 7000 s.f. of exceptional quality. This private gated, oceanfront home for sale features an expansive green lawn flowing down to the sandy beach on highly desirable Padaro Lane.  I believe this was a fantastic buy as comparable sales in past years for Padaro Lane oceanfront (or any Santa Barbara oceanfront homes for sale for that matter) have been substantially higher!

The yearly total of estate sales (above $5,000,000) of 26 is just about ½ of the total number of Santa Barbara estate sales in 2008. There may never be a better time to purchase that luxury dream home in Montecito, Santa Barbara, and Hope Ranch (to view homes for sale in Santa Barbara click on any of these links) as the competition for buyers is heated with many motivated sellers in the Santa Barbara high end home market! 

May 2010 bring peace, love, happiness, prosperity and good health to all!

A recent sale of an Oceanfront Home in Hope Ranch reflects what a great time it is to be a buyer of luxury property! This extensively remodeled luxury estate of approximately 13,500 sf with 10 bedrooms & 13 baths on just under 3 acres was originally listed at $39,500,000 in 2007. It just closed escrow for $12,800,000. Oceanfront properties in Hope Ranch are rarely available. This final sales price was beyond a bargain! There are currently 23 active listings in Hope Ranch and an additional 4 in escrow. There have been 12 sales year to date in Hope Ranch – there were a total of 20 sales in Hope Ranch last year so we are running slightly behind this year. With the National Association of Business Economics citing that 80% of economist believe the recession is over now may be the best time to buy real estate in Santa Barbara. There are some fantastic properties currently for sale with perhaps more bargains to be had!  For horse enthusiasts there is an impressive Mediterranean with ocean views from most rooms, charming guest house and first class equestrian facilities in a prime Hope Ranch location now for sale. To view this and other Hope Ranch Properties for sale go to www.RareEstates.com or call 805-560-9951. For information about a privately offered George Washington Smith estate in Hope Ranch please call 805-560-9951.