The Mid $5’s…

Posted on Jan 27, 2017
The Mid $5’s…

REAL ESTATE

By Mark Ashton Hunt

(Written for the Montecito Journal January 2017)

            THE MID $5’s…

2017 has started off with a typical January, slow trickle of new listings coming on the market. Available housing inventory in the area and often across the country is usually lowest each year from December to February, and this year shows to be following tradition. Look for an increase in houses on the market as we head into early March and through Summer.

However, if you are a buyer looking now for that Montecito dream home, today’s article focuses on a segment of the market that offers good value, wow factor features and a number of listings available right now to choose from.

While 2016 saw about the same number of home sales in Montecito +/-, as did 2015, there were fewer higher priced home sales in 2017 than in 2016. One price range that sometimes struggles to find buyers is the $5,000,000 to $7,000,000 range. This price range is where we begin to see estate-sized lots, view properties, pristine condition homes and usually over 4,000 square feet or more.

The bulk of Montecito’s $5,000,000 – $7,000,000 listings are in the Montecito Union School District, and mostly in prime areas and on prestigious streets, such as East Mountain Drive, Park Lane and others. The four properties featured here are all in the, Montecito Union School District, and all offer different architectural styles, varied locations, different views, etc… showing the variety and value available in this mid $5,000,000 price range.

 

            LILAC DRIVE – $5,495,000

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This two-story home is on a private lane in a premier location on Lilac Drive. The home is in the contemporary style with vaulted ceilings, step up and step down rooms, on a level lot that includes a pool and spa. The home has 4 large bedrooms, 4&1/2 bathrooms in just over 5,200 square feet of living space.

Enjoy the open floor plan, chef’s kitchen with double oven, media room, family room, den/study and wonderful outdoor entertaining spaces. The south facing 1.32, acre lot boasts lovely, ocean and mountain views, lawns, a sparkling pool and privacy. Great home for a contemporary art collector.

 

            FEATHERHILL ROAD – $5,495,000 

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This is a very charming, vibrant & imaginative single level home in a very private setting. French doors, vaulted ceilings & expansive windows create an easy, resort style ambiance. With over 4,700 square feet of living space, the home includes a wet bar, pantry, multiple fireplaces, double oven, hardwood and stone floors, skylights and a metal roof.

Nearly every room opens to flagstone patios, mature sycamore & oak trees, vegetable gardens, fruit trees, a sparkling pool, spa & cabana with gas fire pit. This is one of the more inviting homes I have seen available and feels truly like your own private resort.

 

            PARK LANE – $5,500,000

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This opportunity is defined by the great ocean view location and multiple structures. Occupying 2.23 acres with a long gated private drive, the property is itself of significant value, surrounded by homes priced from $4,000,000 – $16,000,000 and current listings nearby in the $7-$9,000,000 range

The sunny main residence is in the mid century modern style and offers upside potential. The guest-house/art studio and pool house are newer and offer an opulent and creative, ocean view environment for entertaining.

This is a compound offering a very rare lifestyle, with pathways between the main house and guest house/pool area, with no other homes in close proximity, so it feels like 5 acres or more when on the property.

 

            EAST MOUNTAIN DRIVE – $5,600,000emtn1emtn2emtnkitchenemtn4

This is a Mediterranean home with exterior stonework and privacy in Montecito’s ”Golden Quadrangle”. The compound is in a great location down a shared lane between Picacho Lane and San Ysidro Road. The 5,144 square foot single level main home has an open floor plan. There is a detached pool house with 2, guest-suites, a 40′ swimming pool, 4-car garage (1,350SF), a motor court and guest suite and mountain views.

The cook’s kitchen with adjacent balcony/terrace makes for easy outdoor dining. 12′ ceilings & 8′ doorways create volume & scale. There is a formal dining room, and office/media room. The master includes a private sitting room, fireplace, view balcony, his & hers bathrooms, each with garden patios.

 

For more information, or to have us arrange a showing with the listing agent of any of these properties, feel free to contact us directly:

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

Or

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

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