The first quarter has been quite active in the Montecito high end  home market and it is showing signs of a rebound. Last year there were only 2 estates in Montecito that sold at $9,000,000 or more for the entire year and the first one did not close escrow until August. On the contrary this year there have been 4 luxury estate sales in Montecito of +$9 million in the 1st quarter with 3 closing in March - all  3 in March had sales prices in excess of $16,000,000! One spectacular Montesito estate that sold was ‘La Pumada’ . Designed by Reginald Johnson in the 1920′s, on 5 acres with ocean and mountain views, 8 bdrms, 10 baths, 2 guest houses, and of course a pool and tennis court, this Montecito estate is exceptional! There are currently 3 Montecito ocean view luxury estates in escrow. The asking prices are $12,500,000, 17,500,000 and 19,500,000! It seems high net worth individuals are confident in the Montecito luxury real estate market. With a great selection of exquisite properties for sale in Montecito and prices down there may not be a better time to buy! Click here to view Montecito property for sale or go to www.SantaBarbaraRE.com

A unique offering of a spacious custom luxury home with a charming guest cottage for sale in a prime Montecito location – near the charming Lower Village with its abundance of quaint shops and restaurants and the world famous Biltmore Hotel & Spa and beautiful Butterfly Beach  - a favorite spot to see an incredible Santa Barbara sunset. This luxury home for sale in Montecito

View to spacious living room

was inspired by the tropical plantation style homes in Hawaii. The design was a collaboration between the artist owner and renowned architect, Don Pedersen. The style is evident with the expansive veranda that can be accessed from all main rooms on the entry level.  The floorplan is ideal for entertaining with its great indoor/outdoor flow overlooking the lush grounds. The dramatic entry boasts soaring wood beam ceilings and stunning maple floors. The gourmet kitchen opens to the veranda for dining al fresco and is adjacent to the formal dining and living rooms. The main living level has a huge master suite with dual baths and walk-in closets. There is another bedroom and full bath on this level, too. The lower level has an ensuite bedroom and a huge bonus room which can serve as an art studio, office, library, or media room or additional bedroom. There is also an immaculate over-sized 3 car garage which is great for autos and hobbies plus an elevator. There is no need to send guest to a hotel as there is an ultra charming detached guest cottage on this property. Additionally, there is a wonderful green house for the garden enthusiast! The private grounds boast gorgeous plantings, a lawn area, stone walls and a beautiful magnolia tree. This is truly a rare opportunity to acquire so much in a fantastic Montecito location. The versatile floor plan suites many lifestyles – it is the ideal vacation home for weekend get-aways, wonderful for extended families, or great as a primary residence with its coveted Montecito Union School district location. For more information on this one-of-a-kind Montecito Home for sale contact Pat Saraca, Distinctive Real Estate, 805-886-7426. Click here to search for more Montecito Luxury Homes and here for Santa Barbara Homes for Sale.

Spectacular Sunset in Montecito California

The luxury home market of estates in the $5,000,000 plus category in Montecito has shown some good activity thus far this year with 2 escrows closing and 4 other estates entering into escrow. A Cliff May designed home in a prime Montecito location across the road from the renowned San Ysidro Ranch closed escrow for $16,100,000. This property was listed at $19,000,000 and had been on the market for just about 1 year. In addition to the exquisitely remodeled 9400 s.f luxury home it has ocean and mountain views, a pool, expansive lawns and a substantial fruit orchard on over 4+ acres. Another spectacular Montecito estate that entered into escrow in January is a 1920’s stone manor that had been extensively remodeled by designer John Saladino. Listed at $22,000,000 it offers a rare combination of old world California charm blended with the best of today’s modern amenities. It is very privately set on 13+ Montecito ocean view acres with park-like grounds. There are currently 55 Montecito estates ($5,000,000 + ) for sale. Click here to view them Montecito Luxury Homes.

The year is starting off strong for Montecito Real Estate sales with 13 properties closing escrow in January – this is more than double the number that sold for the same period last year when there were just 6 sales recorded. The most expensive sale was an

Montecito Real Estate for sale

ocean and mountain view estate on 2.5 gorgeous acres comprised of a wonderful 5000 sf main home, 2 bdrm guest house, 1 bdrm cottage, pool and cabana. This property sold for $9,550,000 which is almost 32% off of its last listed price of $13,900,000. A property in the Glen Oaks enclave sold for 3,700,000 in 2008 and just resold for $2,875,000 which is a 22% discount off the last sales price. Another home that sold at a significant discount from its original asking price of $7,195,000(when listed in 2008) was an estate on prestigious Park Lane that sold for $3,850,000. These are just a few examples of the recent fantastic buys Montecito. Now may be the very best time to find some great opportunities in the Montecito Real Estate Market. To search available Montecito estates for sale click here.

LOCATION,LOCATION,LOCATION! This one-of-a-kind Don Pedersen designed custom home is located steps from the wonderful shops and restaurants of Montecito’s Lower Village and Butterfly Beach. Inspired by tropical plantation style homes and integrated seamlessly with charming Santa Barbara details this home is impressive! The dramatic entry and open floor plan boasts soaring 30′ beamed ceilings, warm maple floors, and is flooded with natural light from an abundance of windows and skylights. A fantastic property for entertaining with multiple sets of French doors opening to an expansive veranda. The generous sized master suite has his and her baths and walk-in closets and is located on the main level. There is an elevator for easy access to the lower level with additional rooms and hugh 3 car garage – a perfect place for autos and hobbies. The beautifully landscaped grounds feature a magnificent magnolia tree, colorful and mature plantings, a charming stone wall and pathways plus an enchanting 2 bdrm guest cottage. For the garden enthusiast there is also a wonderful greenhouse which could serve as an art studio. A rare opportunity for so much in such a prime Montecito area. Offered at just $2,699,000.

For more details contact Pat Saraca at 805-886-7426, Distinctive Real Estate

Dramatic Living Room

There is some positive news with this update of Santa Barbara Real Estate sales year to date. The number of sold properties is up by 16% over last year at this time. The median sales price is down however, by about 6%.  The Santa Barbara median sales price is down by 37% from the peak of 2007 – wow this is great for Buyers! Plus with interest rates being so low, currently fluctuating around the 4% mark, this may very well be the best time to get into the Santa Barbara real estate market and have affordable payments! Looking at the  high end, Santa Barbara luxury market ($2,000,000 and up) this segment is still showing signs of weakness with ONLY 10% of the sales in October being above $2,000,000. There are some incredible opportunities for high end buyers in Santa Barbara and Montecito with some very motivated sellers especially as we approach the holidays and end of the year! Click here to search for homes and estates for sale in Santa Barbara.

Incredible custom home inspired by plantation style homes of Hawaii and blended with Santa Barbara touches. This spacious home for sale in Montecito has a dramatic entry with 20′-30′ soaring wood beamed ceilings, open floorplans, 4 sets of French doors that flow seamlessly to the covered lanai – a fantastic home for entertaining. Located a stone’s throw to Montecito’s Lower Village with all its wonderful shops and restaurants and just minutes to Butterfly Beach. The lush grounds include a stunning magnolia tree and lots of colorful plantings plus a greenhouse for the true garden enthusiast. An added bonus is the ultra charming 2 bdrm guest cottage. No need for the San Ysidro Ranch when you own this wonderful Montecito home. Offered at $2,699,000

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!

A Taste of Provence in Montecito!

A quaint gated approach welcomes you to an enchanting pied de terre where you will find the perfect blend of old world character and today’s modern amenities. The front courtyard is blooming with colorful flowers and lined with attractive flagstone pavers.  A dutch door greets you at the foyer as you enter this charming abode for sale in Montecito. Warm white washed floors & crown moldings grace the main level. The multi-function living/dining room boasts wonderful mountain views and an inviting nook that is perfect for a home office area. An abundance of light flows through the newly installed French doors which allow for easy access to the delightful courtyard. The efficient kitchen is fully equipped with newer appliances & stunning granite counter tops and ready for creating gourmet meals. Also located on the first floor is the master bedroom complete with  custom shelving in the closet, bath with soaking tub & shower, and its own private patio – a lovely spot to have your morning coffee and start the day.The second floor “loft style” bedroom is a special space with vaulted ceilings, dormered windows, built-in bookcases, a cozy reading alcove, and awe-inspiring mountain views. This charming retreat is located in the heart of Montecito near the picturesque Upper Village (with its wonderful shops and restaurants), the reknowned San Ysidro Ranch, and less than 2 miles to the Montecito Oceanfront! Makes a great Montecito vacation get away or a wonderful full time residence. 1 of only 2 units! This Montecito charmer is for sale at $875,000.  Call 805-560-9951 for an appointment to view this or any other Montecito property!