Real Estate
by Mark Ashton Hunt
Mark and his wife, Sheela Hunt, are real estate agents. His family goes back nearly 100 years in the Santa Barbara area. Mark’s grandparents – Bill and Elsie Hunt – were Santa Barbara real estate brokers for 25 years.
Montecito Across the Board
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t was a good May in terms of home sales in Montecito and the greater 93108. In fact, some agents are even saying the market is basically on fire and in most price ranges. Indeed, we have had a few of the usual under-two-million-dollar sales, as well as a few in the $3-$5-million range as well and a few even over seven million to round it out… and a couple over ten million in recent weeks as well. I know… shocking considering all that is going on in our world. As of this writing (June 6, 2020), the past 37 days (since May 1) has shown 24 closed sales in Montecito, 22 of which had been featured on my Montecito best buys list. Here is a quick comparison of last May to this May sales as recorded in the Santa Barbara area Multiple Listing Service (MLS), within the 93108 zip code.
totaling roughly $25,000,000 in sales. That’s a great start to the summer sales months. Looking ahead we have a good pipeline of homes in escrow and we are seeing new listings come on the market and move, so fingers are crossed. In addition, some sellers are appreciating the home sale process during COVID-19. That is not to say anyone likes what has been going on, but from the point of view of a seller, consider that there are no open houses and those coming through the home are much more serious about buying. That said, it’s not as easy to get people in to see a home, which for properties that have been on the market a while, it’s harder to get them the attention they might need. So, for now get used to the virtual home tours and do not hesitate to call your agent if you see a home you are interested in. We all need a place to live and during this time it’s more important than ever that your home suit your needs. Enjoy this look at a handful of options here in Montecito from the “low two’s” to the “over twenty’s.”
740 Skyview Drive - $2,295,000
2020 – 18 sales in 93108 totaling approximately $77,000,000 2019 – 20 sales in 93108 totaling approximately $80,000,000 Additionally, as has been the trend recently, we had a couple of high end, “off market” sales, which are sales that happen behind the scenes, not offered on the market or through the MLS. These off-market sales in May included one of the larger ocean-front units at Montecito Shores, selling for $5,500,000, as well as a home on Brooktree Road, above East Mountain Drive, with commanding views that sold for $8,700,000. Of note, the two highest priced sales this May had given considerable price reductions over time leading up to their sales, and both closed escrow approximately 20% or more below their final asking price at time of sale. Not only was May a solid month for Montecito home sales, June is starting off as hot or hotter. In the first week of June, 2020, we had six closings in Montecito
This home provides a good balance of size and amenities for the asking price and offers a pool and a desirable school district as well. Up a private drive in the Cold Spring School District find this single level, three-bedroom, two-bathroom home. The 2,000+ square foot ranch-style home is set among mature gardens with a wisteria covered arbor and small, sun drenched pool. The nearly one-acre property is located on a private lane in a closed-in location and enjoys partial ocean views. This home features cathedral beamed ceilings and a multi-room audio system. Additional features of this home include a security system, air conditioning, water softener and two fireplaces, all in a location surrounded by mostly more expensive homes.
255 Bonnie Lane - $3,995,000
Exceptional Architectural Finish (805) 450-2049 | JAMES@JJCSB.NET
16 MONTECITO JOURNAL
Now priced under four million dollars, this newly re-constructed contemporary Montecito home has been reduced a few times over the past year or more, to the current asking price. An architecturally fresh style in the heart of Montecito with a spacious level yard to enjoy is a hard find, so here it is. The home is located just blocks from Montecito Union School, the Rosewood Miramar Beach and the Upper Village. Enjoy a full level acre at the end of a quiet cul-de-sac. Natural light pours in through walls of glass throughout the
“It’s a recession when your neighbor loses his job; it’s a depression when you lose yours.” – Harry S. Truman
REAL ESTATE Page 354
11 – 18 June 2020
