montecito homes for sale: When's the Best Time to Sell Your Home? - 05/23/21 02:58 PM

Factoid: May is the best month to sell your home, and the best day is today May 23rd! If you’re thinking about selling your home, you want to list it at a time when it’s going to sell at the highest premium. And, as it turns out, that time is in May. Obviously, you'd need to list the property before May unless you've received an all-cash, no contingencies, quick close offer.
According to a recent analysis from ATTOM Data Solutions, which reviewed over 40 million home sales between 2011 and 2020, on average, homeowners sell their properties for 13.4 percent above the estimated market … (2 comments)

montecito homes for sale: Harry and Meghan Move to Santa Barbara - 08/15/20 03:24 PM

Official Royal Photo
Harry and Meghan, the Duke and Duchess of Sussex, have set up a permanent home for themselves and their son Archie in Santa Barbara. The couple had been living in Los Angeles for several months. 
The couple relocated to the Montecito property last month, their spokesperson confirmed to The Independent a local Santa Barbara publication. 
A spokesperson for the couple said,“They have settled into the quiet privacy of their community since their arrival and hope that this will be respected for their neighbors, as well as for them as a family.”
Other celebrities with homes in Santa Barbara include actor and Goop founder Gwyneth Paltrow, Star … (3 comments)

montecito homes for sale: Oprah Winfrey Purchases Jeff Bridges Property - 11/30/19 09:32 AM
NEIGHBORHOOD NEWS:
Oprah Winfrey purchases Jeff Bridges Montecito property and has added yet another Montecito, California property to her real estate portfolio. Built in 1919 and renovated in 2016, Winfrey's latest property sits on four acres of land. 
Bridges first listed the property in April for just under $8 million, and Winfrey ultimately bought it for $6.85 million. Winfrey already owns two properties in the area: She purchased the first, nicknamed the Promised Land, for $50 million in 2001, and the other, nicknamed Seamair Farm, for $29 million in 2015.
Its not publicly known if the Dude plans to abide in another Santa Barbara-area home, … (0 comments)

montecito homes for sale: Rosewood Miramar Beach in Montecito, California - 03/20/19 02:36 PM
The Rosewood Miramar Beach luxury oceanfront resort opened officially to the public on March 1, 2019.  The luxury resort is located at 1759 South James Lane in Montecito just off Highway 101.
The resort’s direct phone line is 805.900.8388, and room reservations can be made by calling 214.880.4262.
Rick Caruso, who developed the 161 unit resort says, “For the past 12 years, my team at Caruso and I have had the privilege of being part of the incredible Montecito community,”. “The support and encouragement that we have received from you means the world to us. For so many, this stretch of land is filled with … (0 comments)

montecito homes for sale: Update on Montecito's 7 Damaged or Destroyed Bridges - 10/22/18 12:39 PM

Photo of Toro Canyon Bridge by Cal Trans
Noozhawk, a Santa Barbara online local news publication, reported today on the status of the seven bridges that were damaged or destroyed by the flood and debris flow on January 9, 2018.
The bridges are at 1. Montecito Creek at East Valley Road, at the base of Parra Grande Lane (west of Hot Springs Road). 2. San Ysidro Creek at East Valley Road (just east of Randall Road)  3. Romero Creek at East Valley Road (between Sheffield Drive on the west and Ortega Ridge on the east). 4. Toro Creek bridge near Ladera Lane (east … (0 comments)

montecito homes for sale: Is there a Correlation between Interest Rates & the Stock Market ? - 10/13/18 02:26 PM

After the drop in the Dow this weeks mortgage interest rates went up briefly to just above 5%. Today (10.12.2018) the interest rate on a 30 year fixed rate mortgage, on average, was 4.88%. It appears interest rates may be on the rise.
There is not a tangible relationship between mortgage rates and the stock market whereby one can be said to directly drive the other. Although they both respond to the same market conditions, their response is difficult to predict. That said, there are some notable patterns by which either mortgage rates or the stock market suggest the behavior of the … (1 comments)

montecito homes for sale: California Real Estate Market Trends - 09/09/18 11:16 AM

Painting by Santa Barbara artist Chris Potter
The California real estate market has retreated for the third straight month as existing single family home sales totaled 406,920 in July of 2018. The statewide median home price was $591,460 down 1.9% from June and up 7.6% from July of 2017. "In the midst of the peak home buying season, high home prices and rising interest rates combined to crimp housing affordability, which in turn is subduing home sales," saId CAR President Steve White. " Some of the reluctance by buyers appears to be driven by fears that the market may be peaking.
Additionally, the … (1 comments)

montecito homes for sale: Hidden Cameras ?! - 08/19/18 11:41 AM

Hidden Cameras? We're all familiar with Baby cams, Security Cameras, and a whole variety of other different kinds of systems, except this time, they're being used to monitor buyers previewing their home.
Also sellers are using hidden cameras for observing how their real estate agent performs at showings and open houses. A recent survey suggested that 15% of Home Sellers have adopted this practice, and that another 67% said that they "would if they could!"
Not only should realtors be on their best behavior, but it might be wise to council your buyers to avoid making any comments till you get back in … (3 comments)

montecito homes for sale: 1040 Alston Road in Montecito Open Today! - 08/12/18 11:18 AM

Open House August 12, 2018 from 1 to 4pm.
A perfect location just below Pepper Hill, South facing exposure with views down the coastline, Pacific Ocean and Channel Islands. This home offers great indoor/outdoor living and entertaining with spacious rooms, patios, fire pit and beautifully landscaped grounds and gardens. Two ensuite bedrooms, den with wet bar and leaded glass wine closet. The wing off the kitchen offers flexibility as a great media room or guest room. Thoughtful quality finishes include Pella windows, tankless water heaters, AC, Cherry cabinets, travertine & cherry floors. Close proximity Montecito's Lower and Upper Village. Approximately 3000 + … (3 comments)

montecito homes for sale: 502 Picacho Lane in Montecito Open this Weekend - 03/28/18 03:12 PM

502 Picacho Lane in Montecito. Open House this weekend from 1 to 4 pm
"Located on one of Montecito's most prestigious streets this incredible property offers numerous custom features. This remodeled Mediterranean style home offers mountain views and features 4 bedrooms, 4.5 baths, a pool and in pool spa, spacious gardens, numerous terraces, wide plank wood floors, and recessed lighting.
This beautiful property is ideally situated a short distance from Montecito's Upper Village, the world renowned San Ysidro Ranch, Four Season's Biltmore Hotel and oceanside Coral Casino. Santa Barbara's rich cultural heritage is a short drive away, and is the spectacular Santa Ynez … (1 comments)

montecito homes for sale: Big Event Montecito Upper Village 2.24.2018 (2-6pm) - 02/23/18 11:18 AM

Boutique shopping, complimentary food tastings, live music, kids’ activities and much more are in store on Saturday, February 24, from 2 pm to 6 pm at various locations in Montecito’s Upper Village. All local businesses are open and ready to welcome shoppers following the devastating Thomas Fire and subsequent mudflow that shut down business for multiple weeks in December and January.
Celebrate Montecito’s Upper Village is an opportunity for the community to show love and support to the restaurants and retailers who help to make the Montecito community the magical place that it is. Upper Village Businesses will be open and most will be … (0 comments)

montecito homes for sale: The San Ysidro Ranch in Montecito, California - 11/28/17 12:30 PM

San Ysidro Ranch continues to enjoy a glittering reputation for it's natural beauty, impeccable accomodations,  and wonderful cuisine. It is still a destination for many Hollywood movers and shakers.  San Ysidro Ranch has always been a hideaway for various celebrities and politicians. Some notable names are William Powell, Jean Harlow, Audrey Hepburn, Jack Benny, Fred Astaire, Bing Crosby, and John Huston who sought out the Ranch to finish his script for the African Queen. Laurence Olivier and Vivian Leigh were married here in 1940 and John and Jacqueline Kennedy honeymooned here in 1953. Discretion was an iron rule. Ty Warner, developer of … (0 comments)

montecito homes for sale: VETERANS DAY IN SANTA BARBARA, CALIFORNIA - 11/11/17 11:27 AM

Veterans Day annually falls on November 11. This day is the anniversary of the signing of the armistice, which ended World War 1 hostilities between the Allied nations and Germany in 1918. Veterans are thanked for their services to the United States on Veterans Day.
The community of Santa Barbara celebrates a week of Patriotic Activities beginning on November 4, 2017 thru to November 12, 2017.  Here are a list of those activities.
1. Vietnam veteran’s lunch with Medal of Honor recipient Colonel Jack Jacobs. November 4, 2017 (11-1pm) Elks Club
2. Granada Theatre Movies that Matter: November 10, 2017 (7pm) free admission to … (3 comments)

montecito homes for sale: 502 Picacho Lane open this Saturday & Sunday - 09/22/17 11:50 AM

502 Picacho Lane open this Saturday & Sunday  from 12 to 4pm (11.11.2017 & 11.12.2017)
This four bedroom home can be found on one of Montecito's most prestigious streets. This remodeled Mediterranean style home resides on approximately one acre and offers wonderful mountain views. Other amenities offered are a pool with an in-pool spa, multiple terraces, built in BBQ, and spacious lush garden areas. Located near Montecito's Upper Village.
Offered at: $4,250,000
(2 comments)

montecito homes for sale: 495 Toro Canyon Road in Montecito, California - 04/22/17 01:35 PM

Open House Sunday April 23, 2017 * 1-4pm * Beautiful Toro Canyon Farmhouse!
This enchanting gated estate, on 2+/- acres in magical Toro Canyon, is where chic luxury meets coastal casual. Its main residence is a refined yet uber-comfortable nearly 4,000 sq. ft. California farmhouse that, along with its pair of guest cottages, is set amidst native and tastefully introduced landscaping and takes complete advantage of nature’s bounty. Sandstone paths meander through luxuriant foliage, with a canopy of palm, oak and eucalyptus trees and beside a seasonal creek, opening here and there to delightful ocean and island vistas. The showcase home is … (2 comments)

montecito homes for sale: Ellen de Generes and Portia de Rossi list Montecito Home - 03/20/17 02:20 PM
Ellen DeGeneres and Portia de Rossi list Home for Sale click link for more details and photos!
ELLEN DEGENERES AND PORTIA de ROSSI list their stunning Santa Barbara/ Montecito home for sale. Asking price: $45,000,000. Listed with Sotheby's International Realty.
(3 comments)

montecito homes for sale: The Ten Deadly Sins of Selling Your Home - 02/20/17 11:12 AM

Looking over Santa Barbara towards the Pacific and Channel Islands
Buying a Replacement Home before selling your house: It's far better to sell your current home first then endure the inconvenience of moving to an interim rental, and owning and paying for two homes when you only want one. Statistics show time and again that homes that are priced properly when first brought to market sell at higher prices, oftentimes with better terms and conditions, and in a shorter time frame. "Testing the marketplace" with an inflated over market value asking price is not the best strategy. Failing to get a … (3 comments)

montecito homes for sale: New California State Regulations that could affect your Property - 02/06/17 10:24 AM

On January 1, 2017 a new California Civil Code: Senate Bill No. 407 Chapter 587 requires that all homes built on or before January 1, 1994 must be equipped with water conserving plumbing fixtures including low flush toilets (1.6 gallons per flush) , showers (not more than 2.5 GPMs), and interior faucets (not more than 2.2 GPMs).
The Bill requires that a seller or transferor of a home, multi-residential, or commercial property disclose to a purchaser or transferee in writing the specific requirements to replace these fixtures. The Bill also requires to make specific disclosures in this regard. This most likely will factor into negotiations … (0 comments)

montecito homes for sale: Montecito Real Estate in Review - 01/13/17 02:34 PM

According to the Santa Barbara Multiple Listing Service there were 192 sales in Montecito in 2016 down from 195 sales in 2015, with over half of those selling for under $3,000,000. Here's the breakdown: 11 sales under one million. 57 sales between $1,000,000 and $2,000,000. 47 sales between $2,000,000 and $3,000,000.  23 sales between $3,000,000 and $4,000,000.  20 sales between $4,000,000 and $5,000,000. 22 sales between $5,000,000 and $7,000,000. 9 sales between $7,000,000 and $10,000. And, 4 sales over $10,000,000.
In the neighborhoods east and west of State Street in Santa Barbara (that includes the Upper East, the upper and lower Riviera, Foothills, … (1 comments)

montecito homes for sale: Interest Rates on the rise for Ninth straight week - 01/04/17 12:46 PM

Santa Barbara Harbor
Mortgage rates dropped to their lowest annual averages in 45 years in 2016 but continued their steady climb as the year came to a close.
Freddie Mac says that 30-year, fixed-rate mortgages averaged 4.32 percent for the week ended Dec. 29, the ninth consecutive week of increases. Fifteen-year, fixed-rate mortgages averaged 3.55 percent, also up on both a weekly and annual basis.
In a statement accompanying the report, Freddie Mac Chief Economist Sean Becketti said that rising rates will further erode affordability in 2017.
(0 comments)

 
Mark  Lomas, Experience You Can Count On! (Santa Barbara Real Estate)

Mark Lomas

Experience You Can Count On!

Santa Barbara, CA

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Santa Barbara's most definitive real estate blog! Information about Schools, Neighborhoods, Statistics, Real Estate Articles, Market Opinions/Editorials,access to the MLS without having to register your personal information. and much more! Mark Lomas is an award winning real estate blogger and videographer. With over 20 years of helping buyers and sellers Mark can provide the difference you're looking for. Excellent Service, Superior Results, Remarkable Real Estate! MDLomas@gmail.com and 805.845.2888 cell/direct


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