$12M Is the New $7M: Grateful to be living in Montecito

Month after month, year after year I keep pinching myself when I realize we live in Montecito. Though we work hard and sometimes struggle to stay here, it is by no means an accident. We thought of all the places in the world (ok the southern West Coast) where we could raise our daughter and live our adult lives post L.A. and this was it. My family had lived here, my grandmother and great-grandmother had worked at the Miramar in the 1930s, it was destiny. Sadly, my family sold all their homes before I was of age to council them, but it is what it is.

Living here is a cut above. It’s simple yet refined, not brand-spanking new (except the homes and some stores and restaurants… and the new freeway I suppose), but there is a nice history one feels here, that it’s a place, not built up for people to come to but was here already and drew people here to build their own dreams.

Well these days that dream is a lot more expensive than it was a decade ago. I’m shocked to see homes priced at $6 or $7M that would have been $2.5M just 10 years ago. And it’s not all about the highs and lows of the market, it’s about the fact that many around the country have realized what a special place this is to own a home and spend time, whether year-round or seasonally or just on weekends. And we have the real estate choices for you as well. 

From a five-unit rental near the beach for just under $5M, to a condo on Coast Village Road for $2M to a mansion with ocean views on many acres, to a brand new contemporary home (which went into escrow immediately), this is a place where you can find what you need if you look hard and long enough… and if you have a realtor looking out for you that can help you not miss an opportunity or find a home that is not even listed that you may one day call your own. 

Today I am focusing on the $10 to $15M market. A strong point in our marketplace since the pandemic began. $12 is the new $7 and so on. What you get here for your money is everything. In the over $10M range you usually will find the listing blessed with: privacy, land, a substantial home, gardens, views, or a setting… and did I mention privacy? There are no $20M estates here where your bedroom window looks out into the bedroom of the McMansion next to you just 20 feet away. Here we have buffers, hedges, walls, trees, easements, space.

Here are four diverse listings on the market right now in the $10 to $15M range and all within the Montecito Union School District for you to peruse or purchase, your call. 

238 Miramar Avenue – $11,850,000 

On a quiet lane secretly hidden down an even quieter private lane is this recently remodeled, mid-century architectural home by renowned designer Jack Warner. Boasting 5 bedrooms and 5.5 bathrooms and situated between Montecito Union School and Miramar Beach, this modern estate features an open floor plan with soaring high ceilings and walls of glass. Natural light cascades through the floor-to-ceiling windows and doors, offering breathtaking views of the surrounding landscape. 

The living spaces and bedrooms are ingeniously arranged around a central pool, establishing a serene indoor/outdoor sanctuary. The residence features custom finishes, marble flooring, and stunningly landscaped grounds. The remarkable design invites you to embrace the tranquility of your private oasis, seamlessly merging the interior and exterior spaces. Featured in the book Montecito Style published by Monacelli Press (2022).

663 Lilac Drive – $12,500,000

Set on over two south-facing acres of usable land and featuring a Cape Cod-style house that has both a historical and modern feel, this residence with its exotic gardens, rare plant specimens, and breathtaking ocean vistas is convenient to Montecito’s Upper Village. The living room boasts a towering ceiling, a striking mezzanine, inlaid wood floors, and windows that frame ocean views and mature garden views. 

The chef’s kitchen is replete with a spacious center island with overhead skylights and brand-new top-of-the-line appliances. The entire upstairs is designed as an owner’s personal sanctuary and boasts soaring ceilings, a fireplace, two large walk-in closets, and a secret attic space, plus dual en suite bathrooms overlooking the sprawling grounds and ocean views. 

There are three additional bedrooms and down below is a large game room/office. An additional suite is located over the garage with a separate door and gate. A Moody Sister-style one-bedroom guest house is seated in the woods surrounded by rare plants. A completely refreshed treehouse, a crescent-shaped pool with an in-pool spa, and a wisteria-covered pergola equipped with a BBQ grill and mini refrigerator are in place to enjoy the outdoor lifestyle.

167 Pomar Lane – $12,800,000

Introducing the Jacaranda Estate, an exquisite piece of history nestled in Montecito’s prestigious Hedgerow neighborhood. This Monterey Colonial-style estate, built in 1900, has undergone a meticulous restoration to preserve its timeless charm while seamlessly integrating modern luxuries. Set on 1.23 acres of lush grounds just blocks from Miramar Beach and Montecito Union School, once you pass through the double gates, step into a world where classic elegance meets contemporary comfort. 

The main house boasts four bedrooms, each stylishly appointed and filled with natural light. The primary suite is equally restful and beautiful. Original hardwood floors, three fireplaces, and a private study and den create an ambiance of timeless grace. The recently remodeled chef’s kitchen features high-end appliances, including Sub-Zero refrigerators and freezers, and a La Cornue oven and range, all complemented by beautiful marble countertops. 

An adjoining guest house features three bedrooms, two full bathrooms, a two-car garage with private entry, a fully equipped kitchen and a sun-drenched living room with French doors leading to the pool and grounds. An enhanced smart home alarm system for the entire compound ensures convenience, security, and peace of mind. 

The outdoor amenities impress with a pool and spa (which include iAquaLink controls), barbecue area, and a pavilion that beckons al fresco dining. The grounds have been thoughtfully enhanced with over 4,000 new plants that harmonize with the majestic 120-plus-year-old trees. Enjoy a petite orchard yielding delicious oranges, lemons, avocados, and baby peaches.

627 Stone Meadow Lane – $13,995,000

This newly rebuilt jewel-box is in a prime location on a cul-de-sac just off famed Picacho Lane. The five-bedroom, five-bathroom, single-level home features soaring ceilings that greet you when entering this warm California Modern home where indoor and outdoor living seamlessly integrate. An oversized living room bathed in abundant natural light serves as the center of the home. Floor to ceiling pocket doors open to connect the living room to the ‘‘California Room,’’ an indoor-outdoor living area taken to the next level, creating the ideal entertainment space as well as a casual year-round living space. 

The thoughtful floor plan offers four-bedroom suites plus a luxurious primary suite with large walk-in closet, fireplace, and gracious primary bath constructed with a free-standing tub, custom cabinetry, and exquisite marble steam shower. A functional media room doubles as a theater with built-in surround sound, custom seating, stylish bar, Phillip Jeffries wallpaper, and automatic blackout curtains. The home is an entertainer’s dream, with a large chef’s kitchen equipped with an 80-inch Lacanche stove, large Calcutta kitchen island with seating for 10, True Refrigeration system, Zip water system, and Waterworks fixtures amongst numerous additional amenities. 

Counter to ceiling pocket doors above the sink connect the indoor and outdoor kitchens through a large pass-through bar area. The outdoor kitchen boasts numerous bar areas with ample seating, built in custom BBQ, sink, refrigeration, and infrared heating. Studded with specimen olive trees, the intricately landscaped backyard offers multiple dining areas, infrared sauna, and a stunning 60×20 foot white bottom pool with inset jacuzzi, fountains, and large Baja shelf.