Montecito Median Price Has Dropped Dramatically - 07/20/09 06:06 PM
What's going on in the Montecito, California market? Stats show that the sales volume is down almost 60% from this time last year, with the bulk of the sales happening in the $1-2M group, entry level for Montecito. Last year the Median price was $3.6MM, today is is approximately $2.3MM, a decrease of 36%. The sales in the condo market have been almost non-existent, with sales volume down almost 77% from last year, median price falling from $1.6MM to under $900K. This last stat is a hard one to figure, with so few sales, and most in the low end fueled … (0 comments)

Austin Val Verde Estate on the Market - Subject to Bankruptcy Court Approval - 07/15/09 09:00 AM
Montecito/beach area estate properties are alive and well.  This morning's caravan features 9 properties that are listed for over $10MM, and 20 properties that are listed between $2MM and $10MM.    We have experienced several multiple offers on estate properties in the last month, a signal that those buyers who were uncertain, now perceive our area to have some bargains.  Most comment on how much land you get - these are not urban lots with massive structures, but rather impressive estate grounds with the bonus home included.
Today, one terribly interesting property is available:  The Austin Val Verde Estate on Sycamore Canyon … (0 comments)