Tag archives: property
“Buy land, they’re not making it anymore.” – Mark Twain Over the long run, Montecito real estate has been an excellent investment. Indeed, price growth has averaged about 8% per annum over the past five years versus 7% for the greater Santa Barbara area and 6% nationally. These price premiums of Santa Barbara and Montecito […]
When California voters passed Proposition 19 in November of 2020, many questioned why the Real Estate industry supported a law that eviscerated the “parent to child exclusion” (from property tax reassessments) in most cases. Well, like the Stones’ “Satisfaction” and the Beatles’ “Revolution,” the B side of this new law outshined side A. While Prop […]
There’s a saying in the Real Estate business that, in considering the value of a property, only three things really matter: Location, Location, and Location. But, if that means where a place actually is, many factors enter into play – such as what it’s near, and not near. We are often reminded that “it’s a […]
In a quiet off-market sale that closed last week, QAD’s 28-acre blufftop site in Summerland has reportedly sold to the University of California for over $100M. Once utilized in off-hours by nonprofits in the area for large-scale events, the property boasts impressive coastline views and was fairly open to the public for sunset viewing. Speculation […]
Many countries – and many families – have some tradition of territory, or property, which used to be theirs, and is now someone else’s. The memory, even though it may relate to events far in the past, is sometimes still charged with bitterness. A classic example is the region known as Alsace-Lorraine, sandwiched between France […]
Hello and welcome to a busy Montecito summer season. In the past four months, the number of closed escrows is more than double what we would typically see. Between July 19 and August 29, for example, whereas 16 homes traded hands last year during the same timeframe, this year we saw 39 completed home sales. […]
It has been an incredible past two-plus months in the Montecito real estate market, to say the least. Sales are up and still climbing. Not since perhaps 2002-2006 have agents seen this kind of buyer activity, in all price ranges. Sales have been solid in Summerland, Carpinteria, Santa Barbara, and Goleta as well this summer, […]
George Floyd was killed by police officers over a claim that he had a fake $20 bill. How much power should be given to property versus to humanity? Property vs humanity is in the forefront of my mind now. Imagine that someone has lived in a home for over 30 years. But in a matter […]
The months of May and June, and now into July 2020, are proving to be the most active real estate months that many can remember in Montecito during the past 15+/- years. Whether it be Boomers flexing their buying muscle and finally committing to a place in Montecito, perhaps Ellen’s celebrity friends, the Bay Area […]
To say it has been an active spring in the Montecito Real Estate market would be an understatement. Without even taking into considering the recent, national challenges, and even when comparing to most 45+/- day periods, regardless of market conditions in recent years, it has been a good six weeks in the Montecito Real Estate […]
The Montecito Heat Index measures present demand for Montecito single-family homes. By focusing upon buyer contracts, rather than closed escrows which typically lag a month or longer from accepted contracts, the Heat Index provides a forward-looking indicator of both market strength and direction. At five distinct price points, we look at where value is most […]
It was a good May in terms of home sales in Montecito and the greater 93108. In fact, some agents are even saying the market is basically on fire and in most price ranges. Indeed, we have had a few of the usual under-two-million-dollar sales, as well as a few in the $3-$5-million range as […]
I hope everyone is staying safe and enjoying “at-home time” as much as is possible. Perhaps by the time this article is out on the streets, there will be more people out and about. In the meantime, regardless of being somewhat back to normal or not, we are all spending more time at home and […]
I am pleased to share joint authorship today with my good friend, Attorney Jan Larson. Coincidentally, she and her husband, Rock Rockenbach, soon will be moving back to Montecito. Jan and I both represent policy holders against insurance companies. In this article, we discuss how first party property insurance policies should be examined to determine […]
The homes that comprise the Montecito Real Estate market offer great diversity in terms of style, price and amenities, as well as the varied topography and neighborhoods this lovely area offers to homeowners. From a canyon side home to a level lot in a private setting, a hill top view home, a historic property resting […]
As we move further into the New Year, we are seeing new homes come on the market, as well as listings that had expired at the end of last year and are coming back on. Inventory is generally low right now, but not far off averages for past years overall. Additionally, many of the homes […]
How can anybody own anything? The most popular methods are: by Law, by Custom, or by Force. And often they’re combined. But we all know that, ultimately, none of this makes any real sense, and that, in the broadest perspective, nobody can ever own anything. Take our bodies, for example – and surely that must […]
An elaborate Montecito chateau inspired by the Alhambra palace in Granada, Spain is up for sale for $35 million. The custom-built estate has Moorish, Spanish and Italianate architecture, with tall arches and mosaics. French owner Kinka Usher, a director of TV commercials, who has filmed spots for Nike, Taco Bell and Pepsi, says he was […]
The 805 Conservation, the Bucket Brigade, Hope 805, the Montecito Center, and the Sheriff’s Department are inviting property owners and family members affected by the debris flow to view items found in the mud. These objects include things found by the Bucket Brigade and Habitat for Humanity, items held at the Sheriff’s Office, and unknown […]
Our home in Glen Oaks wasn’t destroyed in the January Montecito mudslides, but others within a cat’s prowl lost theirs. This article about measuring “just compensation” in an inverse condemnation case is for my less lucky neighbors and friends. This involves real estate appraisal, which, like poker, is not very interesting unless played for money. […]
