Four Homes Looking for Their New Owner
The desire of so many to purchase a home in Montecito, along with the phenomenal number of homes sold and sales over ten million dollars this past year, has been covered at length in many local and national publications. This rush to buy has left Montecito’s Real Estate market with very few homes for sale, and right now, there are only about 75 homes on the market across all price ranges when a more normal number would be about 140+/- homes for sale in any given winter month.
To highlight this demand for homes in Montecito, I mentioned in my last article that two new listings had hit the market in prime areas (the Hedgerows and lower San Ysidro Road area). In that article, just two weeks ago, I also stated that I was not featuring those two homes as they would likely be in escrow by the time my article hit the newsstands, as both homes were in that popular $2.5 to $4,000,000 range and in areas of highest demand.
Indeed, both homes went into escrow, and one of them, with a rumored 16 offers, has closed escrow already, in less than two weeks. This can be the state of things if you want to purchase a home in the Montecito area, especially if one is making a play for a new listing in the under $4,000,000 range when it hits the market.
As I continue to highlight properties that have been on the market a “minute or two,” it confuses me as to why some homes sell at a premium or premium++, and others are still available at what might be considered reasonable prices when compared to other area sales.
It is often that one or two features of one home over another make the decision for a buyer. The fact that a home is still on the market does not indicate any negatives with the properties at all, nor does it indicate a property is priced too high. It’s all about a home finding their new owner.
Location seems to be more key than ever in some cases, as homes within six blocks of the Rosewood Miramar Resort keep selling at prime, and sometimes OMG prices nearly as fast as they hit the market. That said, we have seen record prices paid for homes on the edges of Montecito, in the foothills and valleys as well as those closer to town options.
Below are four properties available as of the writing of this article, all of which have been for sale, more than a couple of weeks. This indicates, that if you like one of these homes and made an offer, you might not be competing with a dozen other buyers, which is nice. These homes are all in excellent condition, with either newer construction or having been recently remodeled. From a condo near the beach to a hilltop estate, Montecito has it all and so can you… for a price.
107 Olive Mill Road – $3,600,000
The Villas at Olive Mill Road offer sophisticated, modern living only steps away from restaurants on Coast Village Road. Newly built in 2019, this open floor-plan condo is centrally located in the heart of Montecito’s lower village and beach area, and includes two en-suite bedrooms, three bathrooms, an expansive primary bedroom with balcony, and oversized walk-in closet.
The living area is tastefully designed with glass Flare Front fireplace, high ceilings and solid French Oak flooring throughout. The chef’s kitchen is equipped with Wolf and Subzero appliances and the enclosed patio-room provides an outdoor lounge space within the comfort of your home.
Enjoy the security of a private garage and dual entry, all located in the Montecito Union School District and just two short blocks to Butterfly Beach.
684 Ladera Lane – $3,995,000
This classic California Contemporary, redwood and glass home is truly unique. You can feel the outside, inside every room. From every angle, one can see olive trees, fruit and eucalyptus trees as well as specimen California oak trees that become integrated into the architecture.
Step into your backyard and pick fresh oranges, lemons, limes, persimmons, avocados, plums and pomegranates, and enjoy them from your deck overlooking the lushly landscaped property. Wake to the peaceful sounds of birds chirping on this private and secluded property, yet you are only minutes away from the upper and lower villages of Montecito, Summerland, and Carpinteria.
An imported Italian kitchen, custom finishes, and California Closets throughout are just a few of the features in this recently remodeled home. There is also a completely private second floor two-bedroom guest quarters, with custom private bath and balcony.
830 Riven Rock Road – $7,650,000
This Montecito farmhouse-style home features a blend of old-world charm and top-of-the-line modern amenities. Lovingly restored by top Montecito designers and craftspeople, this historic turn-of-the-century home is set on 1.34 very private acres in an area of homes priced generally from $4,000,000 to $20,000,000 and above.
830 Riven Rock features 5,000+/- square feet of living space with four bedrooms, three and a half bathrooms, five fireplaces, chef’s kitchen, open family room and a living and dining room that share walls of windows providing views to the ocean. An upstairs, ocean view primary bedroom suite, three offices, and a wine cellar add to the value of this listing. Ocean view balconies overlook the stone pool and spa terrace and provide a peek of the ocean, framed by mature oaks and sprawling lawns.
Mountain views to the north and majestic rose garden terraces, along with a charming one bedroom, one bathroom guesthouse and a three-car garage, complete this property that is conveniently located within the Montecito Union School District.
965 Park Lane – $8,900,000
Boasting what might arguably be the best views in Montecito, these astonishing panoramas stretch from Point Mugu to Campus Point, with all of Montecito at your feet, sunrise to sunset. The Spanish Hacienda style home evokes classic Santa Barbara with the ease of single level living for all the public spaces, primary and secondary bedrooms. Two offices (or a bedroom and office) plus a full bath complete the second story addition, part of the remodel and expansion in 2014 by Unander and Associates.
The whole house unfolds to the views and the outdoor living spaces and privacy is a given when you are on top of it all. Music fills the home as well as the stunning pool and courtyard areas, while the family room transforms into a cinema experience with a state-of-the-art entertainment and sound system.
Just moments from the Upper and Lower Villages of Montecito, and within the Montecito Union School District, this hilltop residence is complete with solar, generator, wells, and cell phone back up in addition to a Lite Touch lighting and advanced security system featuring remote operation from anywhere in the world.