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 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!

In yet another testament to the strength of the Montecito Real Estate Market, two properties across from Butterfly Beach have just entered escrow. One is a gorgeous Montecito Estate on Hill Road with 4 bedrooms, 6 baths and ocean, mountain and harbor views. The asking price was $18,800,000.

Also in escrow are the adjacent 2 lots that front Channel Drive – asking price of $8,000,000 for both lots together. This property (the house and lots) previously sold for $5,900,000 in 2003 prior to an extensive remodel. Overall about a 450% increase. Not bad for a 6 year holding period! Montecito Oceanfront real estate remains a rare and desirable commodity.

A brief analysis of the sales activity in Montecito shows twice as many pendings & solds for February as there were in January. March seems to be right on track with February in number of pendings and solds thus far however the average sold price for March is at $4,483,333 up from an average sold price of $3,035,714 for February! This positive Montecito Real Estate data is in line with the impressive statistics of 2008 where there was a substantial increase with the average sales price being 16% higher than in 2007.

Montecito remains a desirable destination for people from all over the world. Due to the geography of our area with it being bordered by the mountains on one side and the ocean on the other the number of properties are quite limited. Add to that the slow growth philosophy of the powers that be and one sees that Montecito Real Estate is a rare offering with ocean view and ocean front in even less supply. The desirability of our area for primary homes, luxury real estate, vacation homes, and investments remains stable. While many places in the country saw large decreases in property values, the Montecito Estate Market continues proving to be a solid investment. Santa Barbara Real Estate remains desirable and why wouldn’t it – we have ideal weather, breathtaking scenery, pristine beaches, fine dining, theatre, golf, boating, polo, wine tours, international appeal, and so much more. Whether vacation destination, primary residence, second home or pure investment, Montecito is a proven prime choice for the old real estate adage of location, location, location!

The Santa Barbara International Film Festival 2009 (SBIFF) runs in Santa Barbara, California from January 22 through February 1. Along with its idyllic Mediterranean climate and setting, the SBIFF has put Santa Barbara, California on the map, providing notoriety to Santa Barbara as a resort destination. Even through today’s market conditions, Santa Barbara view, oceanfront and estate properties have proven to be prime real estate holdings, including Montecito Estates, Oceanfront Properties, Hope Ranch Estates, and Santa Barbara Estates. Many in the film industry call Santa Barbara and Montecito home or have vacation homes in Santa Barbara.

Arlington Theatre, Santa Barbara

This year there will be over 200 films screened including 21 World Premieres. This year’s festivities include the presentation of awards to Penelope Cruz, Clint Eastwood, Mickey Rourke, Kristin Scott Thomas, and Kate Winslet. Roger Durling of Santa Barbara, California is the SBIFF Director. This year’s theme is”Discover by Day and Be Dazzled by Night” promising a fun time of films, events, and parties. The SBBIFF 2009 guest director is David Fincher. He will discuss his films including his most recent work “The Curious Case of Benjamin Button” starting Brad Pitt and Cate Blanchett. Brad Pitt and Angelina Jolie attended last year’s film festival in Santa Barbara where Angelina Jolie was presented with Outstanding Performance Award for “A Mighty Heart”. The films and events will take place at various venues throughout Santa Barbara including the historic Arlington Theater. There is speculation as to part time Montecito resident Oprah Winfrey making an appearance! Oprah purchased her Montecito Estate for $42,000,000  in 2000 and it is estimated to now be worth over $90,000,000. A testament to the relative strength of Santa Barbara and particularly Montecito real estate values even through down markets, which currently present a new round of buying opportunities.

In Santa Barbara ocean front for sale, and Santa Barbara luxury real estate, there are few more desirable locations than the ocean front homes in Hope Ranch along the spectacular ocean front bluff top. A never before offered Hope Ranch ocean front estate, a spanish Colonial masterpiece, is now quietly available for purchase in prestegeous Hope Ranch in one of the most spectacular Hope Ranch ocean front bluff top locations, with breath taking ocean and island views and a rare private Hope Ranch beach access just steps away. Hear the waves crash just below this fabulous Hope Ranch estate, which is being privately offered for $21,000,000. This is certainly one of the best Hope Ranch ocean front property locations in the entire ranch, situated on nearly 2 acres of lushly landscaped serenity, with beautiful swimming pool and over 5000 s.f of living space including a guest suite. Contact us for exclusive details and additional photos of this irreplacable and incredible rare estate property in Hope Ranch. Properties like this are rarely available for sale in Hope Ranch, Santa Barbara, and when they do become available on the bluff in Hope Ranch, it is truely a spectacular find.

Santa Barbara properties, privately offered Santa Barbara estates, Santa Barbara ocean front for sale, Montecito estates, and the signature Santa Barbara properties market, is one which requires well informed local expertise and knowledge, crucial to successful acquisition and sale of these rare estates. Custom searches of Santa Barbara properties on the beach, Santa Barbara estates, Montecito properties for sale, Hope Ranch real estate, Carpinteria beach estates information and anaylsis of Santa Barbara CA homes for sale, is available at this site and http://www.RareEstates.com, a fine home sale transaction network, with specialized resources and knowledge of unadvertised Santa Barbara properties and qualified Santa Barbara estates property investors. For exclusive comprehensive analysis and information about Santa Barbara ocean front for sale, privately offered Montecito estates, Santa Barbara estates, or the Hope Ranch properties, inquire here.

Here is a list of all Montecito homes for sale currently available in the coveted Clod Springs school district. Here is a link to a detail page of those Montecito properties for sale.

Santa Barbara properties, privately offered Santa Barbara estates, Santa Barbara ocean front for sale, Montecito estates, and the signature Santa Barbara properties market, is one which requires well informed local expertise and knowledge, crucial to successful acquisition and sale of these rare estates. Custom searches of Santa Barbara properties on the beach, Santa Barbara estates, Montecito properties for sale, Hope Ranch real estate, Carpinteria beach estates information and anaylsis of Santa Barbara CA homes for sale, is available at this site and http://www.RareEstates.com, a fine home sale transaction network, with specialized resources and knowledge of unadvertised Santa Barbara properties and qualified Santa Barbara estates property investors. For exclusive comprehensive analysis and information about Santa Barbara ocean front for sale, privately offered Montecito estates, Santa Barbara estates, or the Hope Ranch properties, inquire here.

With the Montecito real estate market up an incredible 30% for this year with the rest of the state and country’s real estate markets reeling, and with economic experts predicting an end to the national real estate market softness, these current Montecito properties for sale may very well be the best Montecito real estate values for buyers to be seen in the next 10 years. Solid real estate markets like the Montecito CA real estate market are predicted to be the first to see a return to strongly appreciating real estate markets as the rest of the softer markets recover. This "blue chip" investment phenomenon is a reliable market action and should be a reasonable indicator for the coming year in the Montecito real estate market place.

Here is a link to all Montecito properties for sale.

The Santa Barbara real estate market has faired quite well comparatively over the last 3 years while other markets have softened. The higher end Santa Barbara real estate market has performed especially well, with Montecito real estate median prices up 30% in 2008 over 2007.

Below is a partial list of the Montecito Homes for sale on broker caravan Wednesday September 24, 2008. Montecito real estate has show incredible strength through 2008 with all the national termoil, with Montecito properties median sale prices up over 30% for this year over last. Here is a link to all Montecito properties currently available, or try the link in the graphic below.

Santa Barbara properties, privately offered Santa Barbara estates, Santa Barbara ocean front for sale, Montecito estates, and the signature Santa Barbara properties market, is one which requires well informed local expertise and knowledge, crucial to successful acquisition and sale of these rare estates. Custom searches of Santa Barbara properties on the beach, Santa Barbara estates, Montecito properties for sale, Hope Ranch real estate, Carpinteria beach estates information and anaylsis of Santa Barbara CA homes for sale, is available at this site and http://www.RareEstates.com, a fine home sale transaction network, with specialized resources and knowledge of unadvertised Santa Barbara properties and qualified Santa Barbara estates property investors. For exclusive comprehensive analysis and information about Santa Barbara ocean front for sale, privately offered Montecito estates, Santa Barbara estates, or the Hope Ranch properties, inquire here.