This exquisitely remodeled home is open today! 623 Alston is near both the Upper and Lower Villages of Montecito with easy access to downtown Santa Barbara, too. Reminescent of a country home in the South of France, this home is a perfect blend of old world charm with today’s modern amenities. Charming features include leaded glass windows, high wood beam ceilings, antique inspired fireplaces, gleaming wood floors, gorgeous master suite with relaxing spa tub. French doors flow out to the expansive brick courtyard with beautiful gardens. Approx 3000 s.f.  with 3 bdrms and 3 full baths, formal living and dining rooms, kitchen, family room, breakfast nook, office/den. Just reduced to a great price of $1,595,000.  Hurry on this one!

Enchanting entry

I am pleased to announce a pocket listing in Montecito, California. This Montecito luxury home is located with easy access to the Upper or Lower Villages. This French Country home has a classic, vaulted roofline with stately fluted chimneys. The hedge and flower-lined walkway leads to the brick entry. The spacious living room boasts high beamed ceilings, hardwood floors and an antique inspired fireplace. The tastefully remodeled kitchen opens to a breakfast nook and a spacious family room  with a charming stone fireplace. The formal dining room and the breakfast area have French doors flowing to a delightful brick patio and lush grounds – ideal for entertaining large crowds or for more intimate gatherings. Thereare 3 bdrms and 3 full baths – the romantic master suite opens to a private patio complete with spa, one bedroom suite is upstairs separate from the others, and there is a wonderful office/library which could serve as a media room. Decorator colors and designer touches are found through out this home creating a perfect blend of casual elegance! A must see for those seeking a Montecito luxury home! For more information on this Montecito property or Santa Barbara

Fifteen estates priced at $5,000,000 and above have closed escrow since July 1 in the Hope Ranch, Montecito, Santa Barbara areas. The most expensive one being an incredible oceanfront property in Hope Ranch. It sold at a price of $18,440,000 which was just over 35% off its original asking price and slightly over 21% off the last list price. It had been on the market for 8 months. This Mediterranean estate boasts 8 beautiful acres with its own private paved path down to the beach. There are sprawling lawns, putting greens, a pond, tennis court, pool, cabana, and guest house. View this Hope Ranch Estate. Ten of the 15 luxury home sales were in Montecito with the highest sale being a spectacular 10,000 s.f. home on 2.6 ocean view acres on prestigious East Mountain Drive selling for $13,100,000. This Montecito estate also had a guest house and pool. It had been on the market for 14 months at $15,300,000 and sold for 13% off the asking price. Another high end oceanfront property in Carpinteria just closed escrow this week at $10,700,000. This Hamptons style home was listed at $13,800,000 selling at 22% off its final list price(32% off original list price). It is in the gated Sand Point colony on 1.42 oceanfront acres with 133 feet of beach frontage and a pool. At this point the number of sales in the $5 million plus luxury real estate market in Montecito, Hope Ranch, and Santa Barbara is on pace to surpass last year’s numbers. Buyers may have realized that with so much seller motivation now is a great time to acquire a Santa Barbara estate. You may contact me at patsaraca@gmail.com  or  805-560-9951 for additional real estate information.

The luxury home segment in Santa Barbara has seen a very active spring! Fourteen estate properties have closed escrow at the $5,000,000 +  price since April 1. This compares to 8 properties closing in this price range for the same time period last year. That is an astounding 75% increase in closed sales! Perhaps the money is coming out of gold and into real estate again! The highest priced sale is an oceanfront estate which sold for $16,250,000. Located in a guard gated community this gorgeous 7000 s.f. Cape Cod style home has 5 bdrms, 7 baths and 190’ beach frontage on 2+ acres. And yes it has a guest house and a home theater! Originally priced at $32,500,000 when it hit the market in 2008 – it sold at an impressive 50% discount – I’d say well worth the wait!

Another notable luxury estate that recently closed escrow is a 1930’s Dutch Cape on 3.5 acres with dramatic mountain and ocean views in Montecito. Located just a stone’s throw from Oprah’s little place this property was written about in a previous blog about Montecito ocean view estates! It came on the market at $23,900,000 a year ago and just closed escrow at an even $15,000,000. Some great deals have been made in the Santa Barbara luxury market. Sellers are showing lots of motivation as can be seen by looking at the list to sales prices. Watch for an update on the Hope Ranch estate market next!

The Wall Street Journal has stated that Greenwich, Connecticut had a phenomenal end to 2009 with huge increases in sales volume in the luxury real estate market.  The west coast has also seen some large sales with a recent  Beverly Hills property selling to the tune of $35,000,000.  More specifically, in the Santa Barbara luxury real estate market we have seen 4 major estates go into escrow in the past month. The first property in Montecito is a recently built 8500 sf. Tuscan Villa with dramatic ocean, city, harbor, island and mountain views. Located at the end of a private lane off Hot Springs Road this luxury home on a 3 acre site also boasts a pool, spa, and guest house. This Montecito view home was offered at $11,900,000 when it went into escrow. The next Montecito estate to go under contract is an impressive Mediterranean in Ennisbrook with 6 bdrms and 11 baths in the main house. In addition to all the amenities of the previously mentioned estate this Montecito property also has a tennis court with pavilion and a garage for 9 cars. This luxury estate was offered at $14,750,000.The 3^rd Montecito estate that has just gone into escrow is a knoll top Tuscan Villa with captivating views and over 10,000 square feet of luxury. It offers the utmost in privacy being on approx. 40 acres. This estate’s current list price is $8,750,000. The 4^th estate is a 1929 Reginald Johnson on the Riviera which was listed at $8,900,000. It is the quintessential  old world charmer on 3 acres with gently rolling lawns overlooking the fabulous ocean, city, and mountain views. Yes, there is a pool and guest house, too! Quoted in the fore mentioned Wall Street Journal article a representative for residential real estate at U.S.Trust Bank of America Private Wealth Management commented that they have experienced an increase in buying over the past few months. It seems that the luxury real estate market overall may be starting to rebound! We will keep you posted on the Santa Barbara, Montecito, and Hope Ranch estate market. Watch for the closed sales prices in a future blog.

I recently saw the movie “Its Complicated” , a romantic comedy set in Santa Barbara, directed by Nancy Meyers and starring a Santa Barbara resident, Steve Martin and a Classic Santa Barbara estate. In an interview in Santa Barbara Magazine, Nancy Meyers says she chose a Santa Barbara property for the locale in the movie due to its natural beauty and the peace of mind and calm she feels when she comes here. She further states “It feels as close to the good life as you can get”.  Yes, we feel rather the same way. Santa Barbara is not just a place – it is a lifestyle! There were lots of Santa Barbara property scenes in the movie such as the spectacular Santa Barbara Courthouse, the historic El Paseo, and several Montecito property locations, including the scene where Meryl Streep is having her morning jog – on one of the Montecito area’s charming country roads. Many Santa Barbara Estates were within steps including Oprah’s Montecito luxury property. The house in the movie is the quintessential Santa Barbara home full of charm and character with a red tile roof, adobe brick, archways, terra cotta tile, wrought iron, and a great indoor-outdoor flow to covered verandas and lush gardens. As a matter of fact, if you happen to be looking for a similar Santa Barbara property may we be so bold as to offer our considerable Santa Barbara estate expertise to acquire your Santa Barbara dream home. Its “not” Complicated – Its Simple – just click here.

The weather has been outstanding the past few days with the most incredible sunsets here in beautiful Santa Barbara. If you are considering purchasing a luxury home in Santa Barbara there may never be a better time with a great selection of properties for sale. There are approximately 180 properties for sale just in Montecito.The most expensive luxury home for sale in Montecito currently is a spectacular 1920′s Italian Mediterranean (click for details) estate on 7 fantastic acres listed at $29,000,000. Truly one of the finest Montecito Estates for sale. There also currently over 500  Santa Barbara homes for sale and many motivated sellers making this a wonderful opportunity to obtain your Santa Barbara dream home.

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!

According to recent MLS data, Montecito had a 33% increase in number of homes sold in the 3^rd quarter as compared to the 2^nd quarter.  There were some major Montecito Estates that closed escrow during this period. A fantastic, brand new Montecito ocean view estate sold for $18,500,000. This 12,000 s.f. estate had been on the market for over a year with the original price being $33,000,000 – a superb buy at $18,500,000 considering the incredible quality, square footage, unrivaled grounds (complete with pool & cabana, tennis court, guest house), incredible views & privacy! Another sale occurred in the hills of Montecito. This was a circa 1939 Edwards & Plunkett Monterey Colonial full of period detail blended with the finest amenities. In addition to the requisite pool, spa, courtyard, guest house, art studio, sprawling lawns, gardens, and spectacular ocean and mountain views there was also a putting green – a state of the art putting green (the owner was a world renowned PGA Professional Golfer). And for your 9 cars – garage space for all 9 cars! This Montecito estate sold for $9,560,000. A piece of Montecito Real Estate of  historical significance “The Val Verde Estate” sold in this past quarter, also. Built in 1915, it is a modernist house with Roman influences. The gardens were created by Lockwood De Forest with 17 ½ acres of incredible plantings. This is a place where time stood still. Visitors to Val Verde included the likes of Cole Porter, Gloria Swanson, Charles Lindberg, and Georgia O’Keefe. The previous owner, Dr. Austin, tried for many years to open Val Verde to the public like nearby Lotusland, but it was not to be as it was voted down numerous times. The property has been vacant for many years and is in need of major renovation. This Montecito estate changed hands in September for $15,300,000. The current owner has quite an undertaking however this ultimately could be “The Premier Montecito Estate” to rival even Oprah Winfrey’s estate. For 17.5 acres in this prime Montecito location the price of $15,300,000 is a bargain!  Another Montecito property to close escrow in September is a tropical beach house on Hill Road just a stone’s throw from The Biltmore and Butterfly Beach. This was part of a larger parcel on Channel Drive that was split. The main house is brand new and the original pool, pool house and guest house are all part of this lot now. It sold for $11,000,000 – a huge drop from the original asking price of $24,500,000 in the summer of 2008. With an impressive selection of properties in the Montecito and Santa Barbara Real Estate market and many motivated sellers now may be the best time to buy. Seems to me buyers are finding this is the time for some great deals in the Montecito Real Estate market!

Viewed several spectacular ocean view properties in Montecito this week!

The first is an estate which boasts a prime location – with Oprah as a neighbor. Buy this home and perhaps one day you will be invited to attend one of Oprah’s exclusive events!

Of course another reason to buy the property is to own a piece of history. Built for a prominent Chicago family circa 1930, this authentic Dutch Cape has impeccable craftsmanship & details with views that are breathtaking  – from the awe-inspiring mountain views above the reflecting pond to the magnificent ocean views in the opposite direction. There are plenty of bedrooms and baths in this manse however NO kitchen.  That’s right – the kitchen/ family room wing is under restoration and yet to be determined until the new buyer steps in.  However, due to its superior location and the incredible grounds with 3.5 flat acres (a rare Montecito offering) it is still a pretty good investment  – offered at $19,500,000.

Now if you want an estate that already has a kitchen AND a beautiful one at that, then you should have a look at a wonderful offering on Picacho Lane.  This luxuriously appointed Mediterranean has unsurpassed quality throughout and fantastic grounds with panoramic views of the mountains and ocean, a sparkling pool,  fabulous pool house, tennis court, lush lawns and children’s play area. Many recent renovations have gone into this quintessential Mediterranean classic with no expense spared.

Offered at $18,995,000 – this in my opinion, is the best estate currently on the market in Montecito!