Had a beautiful sunny day to view Montecito Oceanfront homes!
My first stop was Sea Meadow in Montecito. This is a security guard gated beachfront community near the Biltmore & Coral Casino. The exquisite Montecito oceanfront home that I viewed is in a French Country style and consists of over 7000 s.f. The craftsmanship and detail are a perfect blend of old world charm with today’s modern amenities. The lush lawn flows to the beautiful sandy beach – a rare, highly desirable location – there are only a few homes in Sea Meadow that are oceanfront. This property is offered at $29,650,000. It was purchased in 1997 for $1,100,000 -that is not a bad return on investment! Montecito Real Estate continues to perform well!
Two other beach homes present an interesting opportunity at Padaro Lane where one lucky person could purchase both and have a lovely oceanfront family compound! The home that is directly on the oceanfront is a 100 year old classic beach cottage that has been in the same family for many years. There are approved plans by a noted local architect to turn this into a wonderful 2 story beach home. It is offered for sale at $5,900,000. The back home previously belonged to this family and was sold about 3 years ago for $3,800,000. Since that time it has been very tastefully remodeled and is now for sale for $5,900,000. This home has been a magazine feature property & boasts a celebrity owner. Both properties enjoy a buffer of privacy as they are adjacent to Arroyo Padaro Creek.
Last of all I went to an oceanfront Summerland home which I think is a great buy at$6,500,000. It was on the market last year for $10,000,000 and went into escrow right away near that price however the buyer could not perform so it never did close escrow. Someone’s loss is another’s gain. It is a quintessential beach house with soaring wood beam ceilings & huge windows that frame the captivating ocean views.
There may not be a better time to buy oceanfront property in the Montecito/Santa Barbara area than now! Watch for a future blog on major sales that have recently occurred. It seems buyers are ready to spend again!