APRIL MONTECITO REAL ESTATE UPDATE

Posted on May 3, 2018

APRIL MONTECITO REAL ESTATE UPDATE

Originally published in the Montecito Journal, May 2, 2018.

Brought to you by: Mark and Sheela Hunt

The Montecito community continues to move forward in repairing, rebuilding and healing after the damage caused by the debris flows of January 9th. As an example, today, (as I write this 4/29), a local couple I know is having their severely damaged home, demolished, in preparation for building their new home.

These friends had mud, boulders, huge trees and a massive water tank smash into their lovely home near Coast Village Road, forcing them, along with the many others affected by the flow, to find temporary housing while planning their future as best they can.

Now, the concept of having one’s home demolished might sound bad to most, but as this couple flipped the narrative on me last night, they are looking at this as a good day (they are having a small party even to mark the event), as it represents the start of building their new home and their family is looking forward.

That is positive thinking at the highest level. Granted, this is just one family’s story of the many, some of which might not be moving forward as quickly and others facing steeper climbs, but I do hope this mention helps others who may have lost their home, to keep at it, and that there is progress being made here and there toward the goal of restoration.

On the property front, looking at recent activity in Montecito over the past three weeks (April 7 – April 28), shockingly only one property closed escrow (in the Multiple Listing Service “MLS” system), a home just over $1,000,000 in West Montecito, within the Cold Spring School attendance area.

This was in contrast to the robust weeks of sales just before, and this single sale is indeed a very low number for a twenty one day period in Spring, when there are usually more like 15-20 closed escrows in Montecito per month.

On the brighter side, there have been 12 homes that went into escrow in this same time frame (April 7- April 28, 2018). The escrow process and timing for each home sale is different, so some of these homes might transfer ownership between this writing (04/28) and when this article is published, or at some point in the coming weeks or months. In any case, it is good to see that 12 properties went into escrow in this period, and in many price ranges.

One other positive sign in our market is the substantial jump in new listings, as 24 homes hit the market in this same three week, time frame. From smaller homes near $1,000,000 to a few homes over $8,000,000 and everything in between.

Some of these new listings have been on the market in recent months or last year but many are new to market and represent exciting opportunities for those on the hunt for a home in the area.

51 Seaview Drive – $2,595,000

(Listed with Compass Real Estate)

This is an opportunity to purchase a top floor, 2 bedroom 2 ½ bath Montecito Shores Condominium, offering nearly 2,000 square feet of living space. The southern and western exposure of this unit provide views over the neighboring Bonnymede community to the ocean beyond.

Renovated in 2012 the condo boasts new bathrooms, appliances, electrical upgrades, forced air heating and air conditioning, water heater, en-suite laundry and three skylights were added for maximum natural light. The outdoor terraces have been enclosed and there is an attic for storage, as well as additional storage areas in the subterranean garage. 14 foot high ceilings enhance the living room, along with a built-in wet bar and wood-burning fireplace.

The community at Montecito Shores includes 24 hour gated security, a tennis court, swimming pool and pathways meandering through the compound leading to the ocean. The Montecito Shores community is within the Montecito Union School District.

1133 Camino Viejo – $2,875,000

(Listed with Sotheby’s International Real Estate)

This home is located on .88 acres and includes a Mediterranean style, three bedroom home with vaulted and beamed ceilings, limestone bathrooms including a sauna, chef’s kitchen and a spacious multi-purpose studio, in over 3,600 square feet of living space. Gardens and mature landscaping surround the home, which is set back from the street.

There is an oversized family room with floor-to-ceiling windows and a step-down living room that includes a fireplace, plush carpeting and large French windows overlooking the gardens. The mountain views can be enjoyed from several Juliette style balconies, which lend to the romantic appeal of the house.

This house is located within the Cold Spring School District and is in a convenient location about a mile or so from either the upper or lower village of Montecito.

448 Court Place – $3,295,000

(Listed with Berkshire Hathaway Home Services)

This contemporary Montecito home rests on approximately 1 landscaped acre on a gated private lane just a couple of small blocks from Manning Park, Montecito Union School and the Upper Village in Montecito. The home is on a gated knoll, consisting of a few homes, hidden from the street, offering a very private feel.

Sliding glass doors from nearly every room open to nicely designed outdoor spaces, inviting a new owner to enjoy the indoor-outdoor, Santa Barbara lifestyle. There is a veranda off the family room for al fresco dining, multi-level lawns, terraces, stone steps and a grove of trees and other foliage.

The master suite and guest room offer spa-like bathrooms and the kitchen and living room are designed for entertaining. The home includes over 2,600 square feet of living space and is located within the Montecito Union School District.

1570 San Leandro Lane – $4,999,000

(Listed with Coldwell Banker Residential Brokerage)

Dramatic light filled rooms, mountain views, verdant gardens, and indoor/outdoor living create this southern California lifestyle opportunity.

The 5,000+ square foot home is located on 2/3rds of an acre+/-, and offers a very private, and desirable, hedgerow location. The single level floorplan includes four bedrooms, five full and one half bathrooms, a paneled study, a sitting room and an open kitchen/family room.

The formal dining room is adjacent to the wine room that features a custom, refrigerated wine storage unit. The impressive entry, gallery and living room take in the light that is offered by the floor to ceiling windows and skylights high above.

Expansive patios, manicured low water usage gardens, formal finishes and the prime location are features of this home and the property is located within the Montecito Union School District.


Feel free to contact us regarding any of your Real Estate needs or questions, or for us to arrange a showing with the listing agents of any of the properties featured in this article.

Mark@Villagesite.com or call/text 805-698-2174.

Sheela@Villagesite.com or call/text 805-698-3767

Please visit our website, www.MontecitoBestBuys.com, from which this article is based.