Another celebrity Santa Barbara real estate sale in Montecito CA has closed. From Monty Python fame, actor John Cleese’s horse ranch and home has finally sold after around a year on the market listed at $28 million. Reported to have sold for $16.5 million on June 12, 2008. The 15+ acre equestrian ranch in Montecito CA , in the Santa Barbara real estate market is a unique world class horse facility.
It is reported that the buyers is cellphone millionaire Craig McCaw, ex-husband to Wendy McCaw, current owner of the Santa Barbara News-Press. When their divorce was settled it was reported to be the largest in State of Washington’s history and one of the largest in the history of the US.
John Cleese, too, has also found marital bliss fleeting. He is no longer with his third wife, Alyce Faye Eichelberger, a psychotherapist. Probably the reason for the Montecito property sale.
This is yet another Santa Barbara real estate transaction among the affluent in the entertainment business in Montecito CA. Oprah Winfrey owns a large home in the Montecito real estate market place and has done exceeding well with it from an investment perspective. Read more about Oprah’s Santa Barbara real estate success here. Ellen Degeneres has also recently sold her Santa Ynez property for a tidy profit to purchase a Montecito residence which she sold just 2 years later for an additional winfall. The fact is that the Santa Barbara estates properties market from $2 million up, has sustained growth throughout this market with a +16% growth in median pricing to date for 2008. The Montecito properties market is up 18% this year alone. A statistic seldom reported in the main stream media.
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