The first half of 2010 has shown to be an active one for the Hope Ranch real estate market as the number of sales compared to the same time frame in 2009 increased by an impressive 42%. The price range for home sales in Hope Ranch went from $1,600,000 on the low end to a high of $7,300,000 with 4 being under $2,000,000, 3 over $5,000,000 and the remaining 3 in between. This compares to 2009 when there was just 1 sale above $5,000,000 and also just one below $2,000,000. Hope Ranch is a beautiful area of Santa Barbara (click here for a quick view of Santa Barbara Real Estate for Sale) consisting of approximately 750 properties.  Hope Ranch has a private beach, tennis courts, a country club with golf course, and equestrian trails meandering thru-out the community.  Most lots are in excess of an acre affording lots of privacy. Views are quite varied and can be panoramic taking in the mountains, Laguna Blanca Lake, the golf course, and ocean and islands, too! There are currently 28 properties for sale in Hope Ranch starting with a 4 bdrm ranch on 1.5 woodsy acres priced at $1,895,000 up to one of the most spectacular oceanfront estates in Hope Ranch for sale at $29,000,000.  The incredible 14 acre grounds will take your breath away – like being in your own private park surrounded by towering oaks and redwoods.  The estate is gated of course and includes a 6 bedroom, 10 bath residence, exquisite  pool & pavilion, volley ball court, sprawling lawns and 1000 ft of  bluff top ocean front.  If Oprah is looking to expand her real estate portfolio this would be a wonderful addition!

Santa Barbara

Watched the Fourth of July fireworks from a magnificient bluff top location on the Mesa in Santa Barbara. This oceanfront (click to view Santa Barbara Ocean Front homes for sale) location is a prime spot for a Santa Barbara luxury home. Plans are in place for a gorgeous Tuscan Villa. This remodel opportunity is a rare offering. This locale has a unique orientation facing south and east over the Santa Barbara coastline allowing incredible sunrise views plus ocean, city, harbor, mountain, and island views. Just steps to Shoreline Park, Leadbetter beach – great for surfing and paddle boarding, Santa Barbara Harbor and Santa Barbara Yacht Club plus restaurants and shops. Also close enough for a stroll to State Street and downtown Santa Barbara. Directly in front of you is a favorite local surf spot, for your own live surfing extravaganza. Watch kayakers and paddle boarders from Santa Barbara Harbor, a regular Regatta of international visits from the most spectacular sporting yachts in the world, weekly sail boat races, occasional cruise ship visits and visits from the USS Ronald Reagan, a state of the art U.S. Naval Aircraft Carrier. You may also be delighted with the appearance of dolphins and whales! This is what Santa Barbara beach homes are all about! Build your dream home on one of the most spectacular view properties in Santa Barbara! For additional details on this fantastic offering go to www.BeachFrontSantaBarbara.comAct now and you can watch next year’s fireworks from your very own Santa Barbara beach front home!

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!

According to the top California foreclosure tracking resource, which tracks every California foreclosure and provides daily auction updates, and has issued its monthly California Foreclosure Report for May 2010. Foreclosure filings, outcomes and inventories dropped overall from April to May. Foreclosure filings have declined substantially year-over-year with Notice of Default filings down 43.3 percent and Notice of Trustee Sale filings down 35.8 percent. The only significant increases from the prior year were Cancellations, up 141.3 percent, Sales to 3rd Parties, typically investors, up 75.4 percent, and Time-to-Foreclose, up 30.5 percent from May 2009.

Santa Barbara had 208 notice of trustee sales for May of 2010, down from 273 the same month last year. We have participated in several of these sales and the speed with which the REO are moving and the processing of these sales has improved dramatically. Banks are better equiped and more familiar with the process and the REO buyers are better informed and pepaired as well. This all bodes well the for the Santa Barbara real estate market, California and the nation as we are moving towards a market normalization as this inventory is absorbed. Purchase loan rates are some of the lowest in years once again and prices are still very favorable, which is a combination seldom seen in and real estate market. As more loan product becomes available and lenders get back to favorable lending practices, markets are stabilizing as show by these Santa Barbara foreclosure and state wide foreclosure numbers. For a customized list of the best forclosure properties available in Santa Barbara, contact us here and we will email you the current list.

Newly listed Santa Barbara luxury home for sale is in the desirable San Roque Park neighborhood.This spacious gem is on a beautiful tree-lined street. Enjoy the scent of jasmine and roses as you enter the flower lined brick walkway. An inviting front porch greets you where you can sit and take in the gorgeous mountain views. This coveted location is near a beautiful neighborhood park and Santa Barbara shops and restaurants. The large living room features coved molding, a wonderful picture window and a fireplace. The adjoining family & dining room flow out to a saltillo tiled deck overlooking the lush grounds. The chef’s kitchen has lots of room for creating gourmet meals and a charming breakfast nook in which to savor them. Specialty grocery stores are mere minutes from this home – so convenient! The master suite is on its own wing providing great privacy from the other two bedrooms. The huge yard is a gardener’s delight with an abundance of colorful flowers, plants, mature trees, lawn & patio areas, and a relaxing spa. Now is a fantastic buying opportunity as rates are incredibly low and predicted to go up. Offered at $1,280,000! Click here to view this home or search for other Santa Barbara luxury homes at http://santabarbarapocketlistings.com/

Rare opportunity to live in an exquisitely appointed Montecito luxury home  in a most desirable Montecito location. A stunning and very spacious 3 BR 3 bath restored French Country estate home in a prime location near Coast Village and all it’s wonderful shops and minutes to Downtown Santa Barbara, State Street, Stearn’s Wharf, and the beach. Recently restored with luxury appointments, beamed vaulted ceilings, and custom finishes, this home is a professional’s dream, with spacious rooms, high ceilings and exquisite, hard wood floors. There is a wonderful office suite or media room. There is also a spacious, well appointed guest suite as well on a floor of its own. The beautifully adorned, generous Master suite  with a elegantly marbled tiled bath and glass enclosed shower along with ample closet area, opens to a private patio with spa. Custom cabinetry adorns the high function,  updated kitchen with granite counter tops, marble tile and state of the art appliances, an informal breakfast/dining area flowing easily to a beautifully landscaped brick patio for entertaining and relaxation. This French Country home has a classic, vaulted roofline with stately fluted chimneys.  There are 3 bdrms and 3 full baths.This home is a perfect blend of casual elegance! A must see for those seeking a Montecito luxury home! Offered at $2,185,000.

Santa Barbara real estate is seeing great interest yet again especially in the high end and particularly the “specialty” Santa Barbara property segment of ocean view and ocean front homes. The consensus of opinion among the higher end buyers is that now it the time to acquire a Santa Barbara view property or a Santa Barbara oceanfront property as they are probably priced as soft as they will ever be at this point, with the market showing definite signs of revival. Interest rates are also slated to increase over time as we move forward the U.S. government intervention of buying billions of dollars worth of bonds has now ended, and most experts feel this will effect bond pricing and associated mortgage rate to slowly rise over the coming year.

One unique and irreplaceable property seeing vigorous interest is this rare Santa Barbara beach front bluff top property available for $2.7 million on one of the most desirable Santa Barbara oceanfront parcels ever offered.

Another strong sign for the Santa Barbara real estate market resurgence is New York’s Manhattan market is seeing a large push in acquisition by foreign investors for the same reason. The consensus is that the market is poised to rebound and this is an opportunity to buy at a bottom in pricing as reported here http://www.msnbc.msn.com/id/36033352/ns/business-real_estate/ The Manhattan market has run parallel to the Santa Barbara market in interest level and sales activity over the years and this correlation appears to continue.

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.

Santa Barbara Oceanfront Home Site Easterly View

We feel that this is THE premier Santa Barbara Ocean Front Home Site. Why? because it has the very rare and unusual characteristic of actully having an Easterly view. Right. How can a West Coast Santa Barbara CA oceanfront property have an Easterly sunrise view? Well, first of all, the Santa Barbara shoreline actually faces south. That is why Santa Barbara coastal living has one of the most perfect micro climates in the world. (There  are only 4 other micro climates like this on the planet, in the Southern French Riviera, a coastal area in New Zealand, another small coastal area in Australia, and another small coastal area of South Africa). 

This beautiful Santa Barbara beach home is on a unique cut of the Santa Barbara coast line facing South and East before the coast line starts looping back to a Southerly view. This allows you to see the incredible sunrise over the Santa Ynez Mountains (which were recently snow capped which happens once every couple of years at the higher elevations). You can step to Santa Barbara’s beautiful Shoreline Park with acres of bluff top lawn, gardens and playground, steps to the beach, and BBQ areas. But those aren’t even the best parts. Directly in front of this Santa Barbara oceanfront home site is a favorite local surf spot, so you have your own live surfing extravaganza to watch almost daily. Just to the left of that, you can watch kayakers and paddle boarders from Santa Barbara Harbor, which has an on-going flow of boating traffic. Santa Barbara Harbor has its regular Regatta and also hosts many international visits from the most spectacular sporting yachts in the world. There are occasional cruise ship visits and even a nearly annual visit from the USS Ronald Reagan, a state of the art U.S. Naval Aircraft Carrier. Althought precious few, there are other Santa Barbara ocean view properties, but not with this proximity to walking to downtown Santa Barbara, State Street and famed Stearns Wharf  a few hundred yards away. With the level of ocean activities right in front of you and with stunning views of Santa Cruz, Santa Rosa and Anacapa Islands, and regular visits by dolphins and even Hump Back whales it’s not hard to understand why we feel this is really not just one of the most spectacular and desirable Santa Barbara home sites, but one of the finest home sites in the world. Build your perfect Santa Barbara Luxury Home here. If you are interested in this home site or one similar (difficult to duplicate this one) contact stevedre@cox.net . We have several unique Santa Barbara estate and Santa Barbara waterfront homes available for purchase or lease.