Montecito, CA Real Estate News

By Kevin Schmidtchen, Santa Barbara CA Realtor
(Village Properties)
First it was Ian Schrager, the big city boutique hotelier... Next it was local billionaire Ty Warner, the famous toy maker and hotelier... And now developer Rick Caruso is learning first hand about the long path it will take to please all sides for a proposed development to "revamp" The Miramar Hotel located on the beach in Montecito CA. From the start in 2006 when Mr. Caruso purchased the property from Ty Warner, he has pleased many residents and the city by holding open forums and meetings with community members regarding the development plans for The Miramar Hotel.  The problem is, that to date it simply seems too hard to please everyone while also leading a profit turning adventure for Caruso Affiliated.  Ben Preston, from The Independent writes a great article updating the latest c...
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By Greg Knowles Santa Barbara Ca.
(Fidelity National Title Group-Santa Barbara)
I have received the sales data for March a little earlier than I expected. I was able to upload the latest information for Santa Barbara, Carpinteria, Montecito, Goleta, and the entire south coast today in to the property sales map. In looking it over there were a couple of sales where the price was not available. The prices ranged from as low as $1 and as high as $8,450,000. The property that sold for $1 was 434 E. Olive St. which looks to be part of a package deal that included 506 E. Haley St. The only reason I'm guessing this is that the same LLC purchased them and they closed on the same day. The $8,450,000 purchase appears to be a single family residence on Lilac Dr. in Montecito. That was a pretty popular street last month as there was another sale showing for $7,925,000. I suppo...
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By Kevin Schmidtchen, Santa Barbara CA Realtor
(Village Properties)
I was not real surprised when I saw this latest chart of real estate values here in Montecito CA., but sometimes you do have to just sit back and be in awe.  The Pacific coastal gem that we know as Montecito CA continues to impress with ever increasing real estate values.  Framed by coastal mountains and gorgeous beaches, the lifestyle here in Montecito offers its residents wonderful cultural entertainment, plenty of outdoor recreational activities, fine dining, warm weather, ocean breezes, sunsets and an overall relaxed atmosphere. Montecito real estate is filled with grand and luxurious estates, many of which were inspired by the architecture and homes that are found in the countries of France, Spain, and Italy. If you are interested in learning more about Montecito CA and all that it...
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By Kevin Schmidtchen, Santa Barbara CA Realtor
(Village Properties)
I have summarized below an easy to look at brief outline of the overall statistics for the Montecito CA area through the first quarter of 2008. The total number of single family homes sold in Montecito was 44.  The number of current pending sales for single family homes is 14.  The number of current active listings for single family homes is 88.The total number of condos / townhomes sold in Montecito was 3.  The number of current pending sales for condos / townhomes  is 2.  The number of current active listings for condos / townhomes is 11.   The total number of PUD's sold in Montecito was 0.  The number of current pending sales for PUD's is 1.  The number of current active listings for PUD's is 1.The lowest sale in Montecito was a unit in a four unit complex for $1.36 Million on San Ys...
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By Joshua Ramirez
(Village Properties)
Ever wonder about Montecito's beginnings? The name means "little mountain," and a popular story about the areas birth dates back to 1850.One day an ill man named Wilbur Curtiss encountered a Native American who claimed to be over 110 years old, and who said his secrets of health and longevity were bathing in a magical hot spring. Curtiss was initially very skeptical, but bathed in the hot spring anyway and proceeded to regain his health! Being a shrewd business man, Curtiss then opened a hotel and spa and aptly named it "The Montecito Hot Springs." The resort flourished for many years before it unfortunately burned down in 1964.Although the resort burnt down many years ago, the hot springs still exist today and Montecito continues to draw people from all walks of life to enjoy the many ...
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By Greg Knowles Santa Barbara Ca.
(Fidelity National Title Group-Santa Barbara)
"Save Coast Village Road" is one groups cry! The firestorm that has surrounded the 76 station on Coast Village Road is causing some real debate. Over at Santa Barbara's Blog, they received over 35 comments on the subject including one from me. I personally am not as well informed as I should be on this topic and I am guessing others may be in the same boat. I do know Jeff Farrell, who is a very active and giving community leader has spoken out against the proposed project that is under consideration. Many of the neighbors have as well. If you read all the comments on many of the local blogs you may find that many of the folks in this community are o.k. with what is being proposed. John Price and his comments certainly seem understandable. I thought I would do as comprehensive a job as I...
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By Kevin Schmidtchen, Santa Barbara CA Realtor
(Village Properties)
I have summarized below an easy to look at brief outline of the overall statistics for the Montecito Real Estate market through Mid- March 2008.  These statistics are for the Montecito area only. The total number of single family homes sold was 27.  The number of current pending sales for single family homes is 16.  The number of current active listings for single family homes listed this year is 71.The total number of condos / townhomes sold was 2.  The number of current pending sales for condos / townhomes  is 1.  The number of current active listings for condos / townhomes listed this year is 9. The total number of PUD's sold was 0.  The number of current pending sales for PUD's is 0.  The number of current active listings for PUD's listed this year is 1.Read Full Story Kevin Schmidt...
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By Kevin Schmidtchen, Santa Barbara CA Realtor
(Village Properties)
The demand for beach property and beach estates along the Carpinteria, Summerland and Montecito CA coastline in the last several years has been extremely strong.  We have seen some amazing price points established in the very high end market, with the highest reported sale in the last year being $35 Million for a 9 bedroom, 6 bath newly built home on the bluff on Padaro Lane.  Conversely, the lowest reported sale was $895,000 for a 1 bedroom condo in the desirable Bonnymede complex next to The Coral Casino and The Four Seasons Biltmore Resort.I have summarized below an easy to look at brief outline of the overall statistics for Carpinteria, Summerland and Montecito beach property for 2007.Read Full Story About Montecito Beach PropertyKevin SchmidtchenSanta Barbara Real Estate VoiceViewe...
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Santa Barbara Real Estate for the Montecito area for January 1, 2007 - December 31st, 2007. I have summarized below an easy to look at brief outline of the overall statistics for the Santa Barbara Real Estate market for the Montecito area:The total number of single family homes sold was 191.  Overall the average sales price in 2007 was at $3,690,095.  The average days on the market were 113 in 2007.The total number of condos / townhomes sold was 29.  Overall the average sales price in 2007 was at $1,658,448.  The average days on the market were 115 in 2007.The total number of PUDs sold was 1.  Overall the average sales price in 2007 was at $2,325,000.  The average days on the market were 150 in 2007.The highest reported sale in the Montecito area was on Ashley for $20 Million.  The lowe...
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By Kevin Schmidtchen, Santa Barbara CA Realtor
(Village Properties)
Westmont College, located in high-end residential area of Montecito, CA., won a ruling in Superior Court on Tuesday, December 18th, 2007 to allow the expansion of its master plan.  In the first stage, the plan calls for 165,000 sqft. of new building starting with The Adams Center for the visual arts, The Winter Hall for science and mathematics, a residence hall and a chapel.  Over the coming 20 years, current plans call for an additional 200,000 sqft. of building.  Construction of the first stage is scheduled to start in November 2008.  Scott Craig, spokesman for the Westmont College said, "I think this is a huge victory for students in future years.  It will allow them to live in residential halls comparable to other liberal arts colleges and will enhance their learning experiences."Si...
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