Tag archives: real estate

It’s undoubtedly one of our Eden by the Beach’s most expensive properties. An 11-acre Hope Ranch oceanside estate, consisting of three parcels, is up for grabs for $88 million. It was formerly owned by an old friend, Betty Stephens, whose husband founded Jonny Cat litter, and has a 7,265 square foot main house built in […]

In 2024, sales are up in Montecito – in both volume and prices. What a whopping start to 2024 for the high-end real estate market here in Montecito’s 93108. As I type, just 40 days into the new year, we have seen a total of 17 sales in the Multiple Listing Service (MLS), with two […]

Montecito’s Music Academy has appointed Nate Bachhuber as Chief Artistic Officer. He is recognized for his collaborative and strategic approach to artistic planning with prestigious performing arts organizations, including the L.A. Philharmonic, and St. Louis and Cincinnati symphony orchestras. Bachhuber has wide experience in public relations and digital strategy at New York’s Carnegie Hall and […]

Here is a deep dive into the state of the housing market in Montecito, Santa Barbara, and the Santa Ynez Valley, along with my predictions for 2024. Let’s look at the numbers.  South Santa Barbara County Stats  South Santa Barbara County (Goleta to Carpinteria) saw the sale of 1,011 homes and condos in 2023; this […]

Cheers to you all and Happy New Year, 2024! Thank you to the Montecito Journal team for providing me this forum, and to the readers who keep me on my toes to bring you the most up-to-date activity and trends month to month in our Montecito, 93108 Real Estate market.  Throughout 2023 (much like at […]

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 […]

Fewer sales, higher prices, steady as she goes… or is there a sales slowdown ahead? From this summer’s highest prices, yet slower than recent year’s summer sales volume, to now fall peaks and valleys and Ellen’s new fantasy listing, our market is one thing one month and another the next. What is consistent though, is […]

It was nice to wake up to sun this morning. We have had our share of ‘Faugust’ mornings and I’m still not sure summer fully happened. The long days of light are dimming yet it’s still lovely and soon will be less crowded on Coast Village Road on the weekends. Locals, get ready for September […]

Mega director James Cameron and his wife, Suzy, are selling their longtime oceanfront home on the Gaviota Coast for a titanic $33 million. The roughly 100-acre property was purchased in 1999 for $4.37 million, according to records. Cameron, 68, wrote the blockbuster movie Avatar, the highest grossing film of all time, at the ranch. He […]

The numbers are in for the first half of 2023, and the Santa Barbara South Coast real estate market remains tight in terms of inventory and well in favor of sellers, as there is simply more buyer demand than homes available for sale. Accordingly, the number of sales is down 32% over last year, with […]

When you decide to move to Montecito or if you live here already, you are likely aware that there are many smaller neighborhoods within the greater 93108, each offering their own charm, advantages, and distinct personality. From the Hedgerows to Eucalyptus Hill, to Toro Canyon, the beach area, and the Golden Quadrangle, it’s all good […]

The risk management challenges facing affluent families grow steadily more complex each year. Losses from extreme weather events and higher reinsurance costs continue to reduce the availability of coverage in higher-risk areas. Widespread natural catastrophes and economic turmoil will challenge affluent families in 2023. With rates rising in nearly all insurance lines and capacity reserved […]

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 […]

Montecito… Hot as a Pistol Montecito’s commercial market has remained one of the bright spots on the South Coast. It seems as though Montecito is immune to rising interest rates or troubles that have bogged down other areas like downtown State Street. We are currently seeing all-time high lease rates and sale prices in Montecito. […]

Many Santa Barbarians, Montecitans, and Los Angelenos have caught on to what Santa Ynez Valley locals have known for decades: livin’ is good in the SYV. With several unique areas from which to choose, each with their own culture, lifestyle, and merits, it’s no wonder that residency in the Valley has exploded over the past […]

More and more we see clients that are asset rich yet “qualified income” poor, which just means that they have done a good job saving and accumulating wealth, and now live off their accumulated wealth and investments. The definition of “qualified income” specifically pertains to a calculation based off their tax returns as reported usable […]

“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 […]

A great deal has happened since the late 1960s when the first reverse mortgage was issued to a high school teacher by one of her former students. Back then, what began as privately issued reverse mortgage loans ultimately became insured by the Federal Housing Authority in the 1980s and gradually saw the birth of proprietary “JUMBO” […]

Well, it’s just about the start of summer, or almost. Solstice is next week and don’t even get me started about the May gray and the June gloom, oops, too late. But on a sunnier note, let’s start with Montecito Real Estate stats, about as good a place to start as any. As I reported […]

Actor Kevin Costner, 68, has mortgaged a ten-acre plot of prime undeveloped coastline on Padaro Lane in order to finance the development of his forthcoming Western movie franchise Horizon. “I’ve mortgaged ten acres on the water in Santa Barbara where I was going to build my last house,” the Oscar winner tells Deadline. “But I […]