Montecito Real Estates Winter 2020 by Montecito Journal

JOURNAL Inside:

ontecito REAL ESTATES 2020

• Newcomers flock to town as Montecito is thrust into an unprecedented transformation, p.16 • Home sales are up a whopping 75% over this time last year, p.14 COVER IMAGE: MONTECITO BEACHFRONT PARADISE • A look at six Montecito homes for sale, p.34 1583 S JAMESON LANE, MONTECITO OFFERED AT $17,900,000 • Bruce Giffin ponders his legacy after 35 years, p.20 RISKIN PARTNERS | 805.565.8600

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PERKINSGROUPRE.COM The Perkins Group Real Estate | +1 805.265.0786 | team@perkinsgroupre.com | DRE: 01106512 ©2020 Compass is a licensed real estate broker and abides by Equal Housing Opportunity laws. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdraw without notice. No statement is made as to accuracy of any description. All measurements and square footages are approximate. Exact dimensions can be obtained by retaining the services of an architect or engineer. This is not intended to solicit property already listed.

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W W W. 6 8 5 8 C A S I TA S PA S S . C O M WWW.THEEBBINGROUP.COM | INFO@THEEBBINGROUP.COM | (805) 400-3424 | DRE# 01488213

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6858 Casitas Pass Road CARPINTERIA, CALIFORNIA $19,800,000

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A PLACE TO CALL HOME

LET US NAVIGATE YOU THROUGH YOUR NEXT REAL ESTATE JOURNEY!

DANA dana@danazertuche.com || danazertuche.com danazertuche.com | CalRE CalRE #01465425 #01465425 DANA ZERTUCHE ZARTUCHE 805.403.5520 805.403.5520 || dana@danazertuche.com DANA ZARTUCHE 805.403.5520 | dana@danazertuche.com | danazertuche.com | CalRE #01465425 LORI loribowles.com | CalRE CalRE #01961570 #01961570 805.565.8198 | | lori@loribowles.com lori@loribowles.com || loribowles.com LORICLARIDGE CLARIDGEBOWLES BOWLES 805.565.8198 LORI CLARIDGE BOWLES 805.565.8198 | lori@loribowles.com | loribowles.com | CalRE #01961570 The property information herein is derived from various sources that may include, but not be limited to, county records and the Multiple Listing Service, and it may include approximations. Although the information is believed to be accurate, it is not warranted and you should not rely upon it without personal verification. Real estate agents affiliated with Coldwell Banker Residential Brokerage are independent contractor sales associates, not employees. Â©2019 Coldwell Banker Residential Brokerage. All Rights Reserved.

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Chic Contemporary APPROVED PLANS / GATED & PRIVATE PROPOSED 3 BEDROOM, 4 BATH, 3,500 SQ. FT. WITH ACCESSORY DWELLING UNIT ON 1.05 ACRES LISTED AT $2,175,000

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Bella Vista Drive

VIEWS THAT LAST FOREVER 4 BEDROOM / 5 BATH / 360° PANORAMIC VIEWS / $7,950,000

DANA dana@danazertuche.com || danazertuche.com danazertuche.com | CalRE CalRE #01465425 #01465425 DANA ZERTUCHE ZARTUCHE 805.403.5520 805.403.5520 || dana@danazertuche.com DANA ZARTUCHE 805.403.5520 | dana@danazertuche.com | danazertuche.com | CalRE #01465425 LORI loribowles.com | CalRE CalRE #01961570 #01961570 805.565.8198 | | lori@loribowles.com lori@loribowles.com || loribowles.com LORICLARIDGE CLARIDGEBOWLES BOWLES 805.565.8198 LORI CLARIDGE BOWLES 805.565.8198 | lori@loribowles.com | loribowles.com | CalRE #01961570 The property information herein is derived from various sources that may include, but not be limited to, county records and the Multiple Listing Service, and it may include approximations. Although the information is believed to be accurate, it is not warranted and you should not rely upon it without personal verification. Real estate agents affiliated with Coldwell Banker Residential Brokerage are independent contractor sales associates, not employees. ©2019 Coldwell Banker Residential Brokerage. All Rights Reserved.

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Elevated Living in the

HEART OF MONTECITO 5 BEDROOMS / 8 BATHROOMS/ 2.19 ACRES / PRIVATE WELL / $13,750,000.

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R I S K I N P A R T N E R S E S TAT E G R O U P

Village Properties Realtors

OVER $600,000,000 IN SALES IN 2020 santa barbaraâ&#x20AC;&#x2122;s number one real estate team

P A R T

R S

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team@ RiskinPartners.com license #01954177 805.565.8600

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AS THEY SAY, HINDSIGHT IS TWENTY-TWENTY. As we close out the year and reflect on the trials and triumphs of the last twelve months, we have an abundance of gratitude for the character and characters that make up the essence of Montecito. This year, we are honored to have helped over 60 families buy and sell over $600,000,000 of real estate in this community we hold so dear. Our success comes from our unique team approach, an unwavering commitment to our clients, a detailed understanding of market nuances, the value of discretion, an abundance of coffee, and a sincere love of helping people find the right place to call home. Our reputation is built on results. Clients look to us for honest advice, timely responses, and above all, always putting their interests first. From small seaside cottages to legacy estates, no one knows Montecito real estate better than Riskin Partners. We would be remiss without recognizing that our success comes at a difficult time when many are struggling. Giving back to our community is a long standing value for Riskin Partners and this year, that philanthropy is more important than ever. As such, we are donating a portion of our proceeds to the Foodbank of Santa Barbara County in the names of our clients. During the holiday season, we invite you to consider giving back in the names of those who have contributed to your own successes. As we gaze to the future, we hope to cross paths in the new year. Whether as clients looking to find your own piece of paradise or simply out and about in the community, we look forward to seeing you and being your real estate resource. Onwards and upwards in 2021. With gratitude, RISKIN PARTNERS Erin, Sarah, Jasmine, Robert, Samantha, Eliza, and Dina

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(805) 565-4000 Homesinsantabarbara.com 1255 Coast Village Rd, Suite 102B DRE 01499736/01129919

It goes without saying that the last several months have been a tumultuous time for everyone, and the global pandemic and associated social distancing and quarantines have had far reaching consequences for nearly every type of trade or commerce. The local real estate market in Santa Barbara and Montecito is no exception, and we as agents are keeping tabs on the rapidly changing situation. While several listings have been withdrawn from the market, there are still buyers seeking to find their new home, thanks in part to record low interest rates. Working within the new mandates from the California Association of Realtors, we are still actively working for our clients, helping them reach their real estate goals.

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ÂŠ2020 Berkshire Hathaway HomeServices California Properties (BHHSCP) is a member of the franchise system of BHH Affiliates LLC. BHH Affiliates LLC and BHHSCP do not guarantee accuracy of all data including measurements, conditions, and features of property. Information is obtained from various sources and will not be verified by broker or MLS. Buyer is advised to independently verify the accuracy of that information.

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craving a little...more?

1664 East Valley Road

$9,995,000

LUXURY COLLECTION

Nancy Kogevinas | 805.450.6233 | MontecitoProperties.com | DRE: 01209514

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Real Estate Snapshot Higher End Homes Selling by Kelly Mahan Herrick Kelly is a licensed realtor with Berkshire Hathaway HomeServices, and a member of the award-winning Calcagno & Hamilton Real Estate Team. She can be reached at Kelly@homesinsantabarbara.com

Montecito Market Update

o say that Montecito real estate was “hot” in the third quarter of 2020 is a gross understatement; in fact, the market activity in late summer/early fall broke records across the board in both sales price and number of transactions, in both the 93108 and beyond. Q3 sales in 2020 were up a whopping 156% over last year, while yearto-date as of this publication, sales are up a more modest 72%. We saw the bulk of sales in those late summer months, as buyers flocking to Montecito began opening escrow on their new homes in late spring. Buyers scooped up 113 homes in the MUS and Cold Spring School districts in Montecito from July through September of this year, compared to 44 in the same time period in 2019, which, by the way, was up from 2018, when only 36 homes sold in that same period. YTD we’ve seen 279 sales of homes and condos in Montecito, compared to 162 in 2019. Looking at sales prices, median sales price is up 7%: $3,245,000, compared to $3,014,297 in 2019. Average sales price is $4.4M, up from $3.8M in 2019, year-to-date. Sales in Montecito have been diverse, from a $715K condo in Villa de Montecito to the legacy sale of 237 acres at 2500 East Valley Road for $63M, which closed in October after over six years on the market.

Sotto Il Monte on Sycamore Canyon Road sold last week for $32,250,000, making it Montecito’s third highest sale of the year thus far (listed by Dusty Baker of Sotheby’s)

e’ve seen the sale of fourteen homes over $10M this year so far, which is on par with what we saw last year, and nearly double what we saw in 2018. This year however, three of those sales were over the $30M mark. In addition to the $63M sale on East Valley Road, other notable sales include Sotto Il Monte, a George Washington Smith-designed home built in 1927, boasting a true compound with an 18,000-sq-ft main residence with eight bedrooms and 12 bathrooms, a pool solarium, a three-bedroom, two-bathroom guest house, a six-bedroom staff house, two-level pool pavilion, and ample automobile storage including a collector’s garage. The near 11-acre property was on the market an impressively short 36 days and sold for $32M. There was also the high profile sale of “Salt Hill” on East Valley Road near Toro Canyon ($33.3M), the sale of a trophy property on Channel Drive for $17.5M, a Riven Rock property fit for royalty for $14.6M, and multiple sales above $10M in Montecito’s “Golden Quadrangle.” Like last year, 2020 also saw the sale of several newly re-built homes that were damaged or destroyed in the debris flow on January 9, 2018. Those sales include 848 Rockbridge (sold for $6.7M in August); 180 Sheffield Drive (sold for $1.5M in February); and several homes in Montecito Oaks, among others. There were also a few lots left vacant by the mudflow that changed hands in 2020, including two on Olive Mill/Hot Springs.

MICHELLE KING Condo Market Strengthened far we’ve seen the sale of 46 condos in Montecito, priced from REALTOR® This$715Kyeartoso$5.5M. Last year in the same period, only 20 Montecito condos Buying or Selling? Call or Text 805.455.8818

“Meeting Michelle was probably the best thing that could have happened to us while trying to find our new home. She is very patient, extremely professional, knowledgeable and incredibly introspective. I would, without a moment’s hesitation, wholeheartedly recommend Michelle. I also can assure you that you will be in great hands if you work with her. Thank you Michelle for guiding us through what can be a complex and stressful process and for all of your support.” – R. Levy TopAgentSB@gmail.com • DRE 02030289 MichelleKingRealtor

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changed hands. This speaks to the desirability of the “lock & go” nature of condominiums; many of our buyers who flocked to Montecito during the pandemic were eager for a low maintenance place to land, preferably by the beach. There were many sales not just at Bonnymede and Montecito Shores, but also in the El Montecito Verde development near the Music Academy of the West, the Coast Village Gardens building at 1220 Coast Village Road, and several smaller develop- A penthouse at El Montecito Verde near the Music Academy ments in the upper village. of the West sold in July, just one of the 46 condos to sell in

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Montecito so far this year (listed by Calcagno & Hamilton of Berkshire Hathaway)

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HAPPY CANYON RANCH, SANTA YNEZ VALLEY Once owned by McDonald’s founder Ray Kroc, the Circle K Ranch features a palette of stunningly beautiful pastures, valley’s, hills and vistas, perfect for a family compound, company retreat, or working ranch. Comprised of 6 Parcels totaling 554 acres, and multiple residences, gathering spaces, and recreational opportunities, the property includes a 17,000 sf (+/-) Lodge with a 3,000 sf (+/-) Grand room, 14 bedroom suites, commercial kitchen, and dining room for approx. 100 people with overnight accommodations on the ranch for about 100 guests. The Founders Building hosts a library, plus several bedroom suites and ranch offices. Other structures include a Main home, large storage barn, McDonald’s Test Kitchen, gym, bunk-houses, barns, paddocks and numerous fenced corrals.

www.7355HappyCanyon.com

$29,000,000

HAPPY CANYO MAURIE MCGUIRE, SCOTT WESTLOTORN & MARIA TEMMEL CalDRE# 01875690 - # 01061042 - # 02023777

Coldwell Banker Realty

Once owned by McDon valleys, hills and vistas, p

parcels totaling 554 acre The property includes a

commercial kitchen, and ranch for approximately

offices below. Other stru 4 single-family residence

Maurie@MontecitoLand.com fenced corrals. $29,000 Scott@MontecitoLand.com Maria.Temmel@camoves.com For m MM. 805.403.8816 | SM. 805.403.4313 | MT. 310.383.2337

The property information herein is derived from various sources that may include, but not be limited to, county records and the Multiple Listing Service, and it may include approximations. Although the information is believed to be accurate, it is not warranted and you should not rely upon it without personal verification. Real estate agents affiliated with Coldwell Banker Realty are independent contractor sales associates, not employees. ©2020 Coldwell Banker. All Rights Reserved. Coldwell Banker and the Coldwell Banker logos are trademarks of Coldwell Banker Real Estate LLC. The Coldwell Banker® System is comprised of company owned offices which are owned by a subsidiary of Realogy Brokerage Group LLC and franchised offices which are independently owned and operated. The Coldwell Banker System fully supports the principles of the Fair Housing Act and the Equal Opportunity Act.

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Welcome to the Neighborhood by Peter Kiefer

Montecito is experiencing a once-in-a-generation real estate boom that is reshaping the once sleepy, bucolic town

Proud Supporters of our Community Unity Shoppe IFA Chapter #73 Cops & Kids Benefit Tournament CADA - Summit for Danny Doctors Without Walls - Santa Barbara Street Medicine Dos Pueblos Baseball Santa Barbara High School Theatre Santa Barbara High School Baseball Santa Barbara High School Lacrosse Ye Old Gange - Santa Barbara High School Football Alumni Boys and Girls Club of Santa Barbara Santa Barbara Dance Alliance Santa Barbara Food Bank United Boys and Girls Club of Santa Barbara County American Heart Association - The Santa Barbara Heart Walk Carpinteria Boys and Girls Club Girls Inc. Santa Barbara Education Foundation Alpha Resource Center - Katie’s Fund SB CAN Ka Nais Outrigger Canoe Club End Summer Hunger - SB Food Bank Notre Dame School Channel Islands YMCA Kellogg Elementary School PTSA Santa Barbara High School Soccer UC Regents Economic Forecast Project SBAOR Real Estate and Economic Review and Forecast Freedom to Choose Foundation Martin Luther Kind Jr. Committee of Santa Barbara Santa Barbara Athletic Roundtable Goleta Valley Cottage Hospital SB P.A.L. Friends of Santa Barbara Library Pierre Claeyssen’s Veterans Foundation Cops n’ Kids Legal Aid Foundation San Marcos Royal

La Patera Elementary PSTA Domestic Violence Solutions 5K Run/Walk for Love Youth Interactive Special Olympics of Santa Barbara County Santa Barbara High School Aquatices Marymount of Santa Barbara Santa Barbara Beautiful Our Lady of Mount Carmel Bishop Garcia Diego High School Santa Barbara City College Athletic Dept. Storyteller Children’s Center Santa Barbara Rescue Mission Teachers Fund American Cancer Society “Santa Barbara Relay for Life” Teddy Bear Cancer Foundation Metal Wellness Center of Santa Barbara San Marcos High School Softball Monte Vista PTSA Roosevelt Elementary School Rose Run Dos Pueblos Athletics Booster Club Montecito Family YMCA SB Youth Football League Santa Barbara Paralegal Association Coastal Housing Partnership Homebuyers Fair Cold Springs School Foundation Direct Relief International - 2014 Wine Auction Just Communities Isla Vista Elementary Scholarship Foundation Santa Barbara Goleta Valley Girls Softball San Marcos Royal Pride Foundation Charitable Foundation Washington School Foundation Rotary of Santa Barbara Santa Barbara County Trails Council Kellogg Elementary School Old Spanish Days Inc. Kiwanis Foundations of Santa Barbara Santa Barbara LaCrosse Association Santa Barbara Botanic Gardens Alzheimers Association Junior League of Santa Barbara AHA Special Olympics of Santa Barbara Salvation Army - Santa Barbara Santa Barbara Foundation - COVID-19 Joint Response Hope School PTSA

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The days of walking into Lucky’s on a whim and snagging a table are gone

igns that a community is in the throes of an historic transformation are rarely overt and almost never seismic. They’re small yet perceptible shifts that, in aggregate, tell a story of where a town or a city is coming from and where it’s most likely headed. In the case of Montecito those signs – at least in the eyes and ears of longtime residents – are impossible to miss. Start with the obvious: the helicopters. In the weeks after Prince Harry and Meghan Markle thrust Montecito into a new echelon of celebritydom with their purchase of a $14.7-million, 19-thousand-square-foot Mediterranean style mansion in August, there was the unwelcome clatter of rotor blades keeping nosey (paparazzi) cameramen suspended overhead. Oprah and Ellen DeGeneres have been local fixtures for years, but this level of exposure was next level. Then there are the restaurants and the reality that the days of walking into Lucky’s or Tre Lune on a whim and snagging a table are gone. You’re “lucky” to even get a reservation these days. Some have noticed a shift in clothing and style. Folks – mostly new arrivals – are more gussied up than normal even while simply grabbing takeout; more Manolo Blahnik less New Balance. But Bob Ludwick, the president of the Coast Village Association who has lived in Santa Barbara for five decades, says one peculiar change that he’s noticed in recent months is the increase in the number of pets he encounters. “Everyone brings their dog with them everywhere now,” says Ludwick, chuckling. “You wouldn’t believe the lengths our members are going through to adapt to this and make their businesses more dog-friendly.” Welcome Page 184 184

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1583 S Jameson Ln | Montecito | 9BD/9BA DRE 01815307 | Offered at $17,900,000 Riskin Partners Estate Group 805.565.8600

851 Buena Vista Dr | Santa Barbara | 7BD/14BA DRE 01005773 | Offered at $13,500,000 Gregg Leach 805.886.9000

700 Park Ln | Montecito | 9BD/11BA DRE 01815307 | Offered at $27,500,000 Riskin Partners Estate Group 805.565.8600

2709 Vista Oceano Ln | Summerland | 7BD/10BA DRE 01815307 | Offered at $19,800,000 Riskin Partners Estate Group 805.565.8600

975 Lilac Dr | Santa Barbara | 5BD/8BA DRE 01815307 | Offered at $14,900,000 Riskin Partners Estate Group 805.565.8600

545 Toro Canyon Rd | Montecito | 7BD/12BA DRE 01815307 | Offered at $14,900,000 Riskin Partners Estate Group 805.565.8600

1915 Las Tunas Rd | Santa Barbara | 7BD/9BA DRE 01806890/01788156 | Offered at $10,200,000 DorÃ© & O'Neill Real Estate Team 805.947.0608

956 Mariposa Ln | Montecito | 5BD/7BA DRE 01815307/00837659 | Offered at $9,150,000 Riskin Partners Estate Group/Griffin 805.565.8600

109 Olive Mill Rd | Santa Barbara | 3BD/5BA DRE 00914713/00978392 | Offered at $5,495,000 Walsh/Sener 805.259.8808

516 Crocker Sperry Dr | Santa Barbara | 3BD/5BA DRE 01440591 | Offered at $4,488,000 Elizabeth Wagner 805.895.1467

1556 La Vista Rd | Santa Barbara | 4BD/6BA DRE 00520230 | Offered at $4,395,000 Ed Edick 805.689.1153

499 Crocker Sperry Dr | Santa Barbara | 3BD/5BA DRE 00852118 | Offered at $3,995,000 Jeff Oien 805.895.2944

4002 Cuervo Ave | Santa Barbara | 5BD/4BA DRE 00852118 | Offered at $3,975,000 Jeff Oien 805.895.2944

293 Middle Rd | Montecito | 3BD/4BA DRE 01988499|02020380 | Offered at $3,887,000 Haden Homes Luxury Property Group 805.880.6530

1098 Toro Canyon Rd | Santa Barbara | 2BD/1BA DRE 01939922 | Offered at $3,400,000 Hutch Axilrod 805.637.6378

308 Calle Hermoso | Santa Barbara | 3BD/3BA DRE 01421934 | Offered at $2,695,000 Vivien Alexander 805.689.6683

4609 Via Gennita | Santa Barbara | 4BD/3BA DRE 01964710 | Offered at $2,095,000 David Magid 805.451.0402

5150 E Camino Cielo | Santa Barbara | 5BD/4BA DRE 00835438 | Offered at $1,795,000 Jackie Walters 805.570.0558

LOCALLY OWNED. GLOBALLY CONNECTED. WE REACH A GLOBAL AUDIENCE THROUGH OUR EXCLUSIVE AFFILIATES. All information provided is deemed reliable, but has not been verified and we do not guarantee it. We recommend that buyers make their own inquiries.

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Montecito JOURNAL

Welcome (Continued from page 16 16))

A confluence of events has set in motion a once-in-a-generation real estate boom in Montecito that is quickly reshaping the once sleepy, bucolic town, if well-kept secret. The coronavirus pandemic, now entering its ninth month, has upended the rules that have long governed modern life. Remote working and schooling have triggered an exodus out of dense urban centers like New York, Los Angeles, and San Francisco to smaller satellite communities like the Hamptons and Montecito, now referred to as Zoom towns. These places tend to be more rural with larger, more spread-out lots and thus appeal to buyers looking for COVID-friendly settings while also offering the perks of ‘smaller’ town living. And with practically everyone working from home, the traditional sacrifice that came with such a move – specifically, as it pertained to career advancement – no longer holds true. As a result, the residential real estate market in Montecito is red hot. Record-setting eight-figure deals are becoming commonplace as a new class of jet setters from across the state and the globe usher in a new era of luxe living in a town that’s never been totally comfortable with it. Top local realtors have to adjust not only to soaring demand but client lists that include some of the biggest names in entertainment and technology, most of whom demand the utmost discretion. Local news outlets have even been urged to pull back on aggressively reporting news about public figures moving to the area. This new reality has caused the number of off-market transactions (i.e. deals that occur away from the marketplace platform known as the Multiple Listings Services or MLS) to more than triple, according to some top brokers.

Notable Names

f you were to look solely at prices and the names involved in a sampling of notable transactions in recent months, you wouldn’t be wrong to think that the neighborhood in question was Bel Air, Beverly Hills, or Atherton. In November, the Bali-inspired mansion known as the Salt Hill Estate on East Valley Road, which was owned by DeGeneres and Portia de Rossi,

805-966-9662

The Salt Hill Estate sold for $33.3 million in November

sold for $33.3 million, reportedly to a Russian businessman. The last time the 9.3-acre compound was listed, it sat on the market for two years before DeGeneres and de Rossi nabbed it back in 2018. This time around, Salt Hill Estate was scooped up after sitting on the market for a mere three weeks. It closed with a five-day escrow and DeGeneres and de Rossi pocketed $6.3 million in profit on the sale, adding another notch on their belt as savvy house-flippers (in June, they sold a Tudor-style house to Ariana Grande for $6.75 million, flipping another property). Comedian and longtime Montecito resident Dennis Miller sold his

Welcome Page 444 444

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In Business by Jade Flogerzi

Built to Last

As he approaches retirement, Bruce Giffin, one of Santa Barbara’s top developers, ponders his legacy

onstruction is known for being a tough business. Competition is high, margins are low, cash flow swings in both directions and a shortage of skilled workers makes the industry all the more precarious. As he approaches his 35th anniversary in the business, Bruce Giffin seems to handle all the adversity with a calm and gracious demeanor. The co-founder of Giffin & Crane, one of California’s most reputable, high-end residential builders, is walking me through an equestrian facility project at an idyllic oceanfront property in Santa Barbara. At the top of this property sits a group of 93-year-old Spanish hacienda-style homes, complete with their iconic white stucco walls and red tiled roofs. Giffin first worked on them to repair some water damage to the otherwise structurally sound homes. Across the way is a nearly finished 12-stall horse barn that was built to match the aged character of the residences and their deliberately imperfect roof tiles. From there, the property gently slopes toward the ocean where several horses and a donkey, all rescues, graze in their paddock. At the bottom of the hill is a carousel-like octagonal building with its raw framing exposed, soon to become a covered equestrian round pen. This is the eleventh project Giffin has built for this client, and after officially stepping away from the operations of his company in January of this year, it will be his last project before retirement. Geoff Crane, who founded the business with Giffin in 1985, is joining us, grinning from ear to ear. When I ask Giffin what has surprised him the most since they founded the company, he told me: “That we started out as two young guys, swinging hammers during the day and doing estimates at night, and somehow ended up here.” Crane chimed in, “And I never once cheated on him!” garnering laughter

Bruce Giffin, one of Santa Barbara’s top contractors, is approaching retirement after 35 years in the business (Photo credit: Riley Yahr)

from the group. Also present are Eric Carlstedt, 35, and Derek Shue, 38, who have spent more than a decade with the company and will be officially taking over in the new year. While Giffin stepped away from the operations in January, Crane plans to stay on at least a few more years and can always imagine being involved in some capacity. Giffin continued, “We were friends first. We wanted to start our own companies around the same time and figured it made more sense to work together than to compete with one another. We decided early on we would do the best work no matter what, we would know our numbers, and we would own our mistakes. To this day, we’ve held onto those values. Geoff and I are very different people, but when aligned, have been powerful together.” Giffin estimates their business has done more than $360 million across 3,000 projects and 600 clients since the company’s inception. It is projected to do $25 million in custom work this year alone. Giffin’s commitment to building the best project possible is evident down to his last. Being an octagonal shape, each corner of the round pen has a 67.5-degree angle, which no saw is set up to do so every cut must be made by hand. Structural engineering required that steel beams be put in place towards the pitch of the roof. Each beam has a gap at the top, allowing up to one inch of space for the structure to settle. This started a wager between the builders, engineers, and the architect Britt Jewett, but in the end, the structure settled just 1/16 of an inch. Talking with the company’s successors, it’s obvious they have no plans to sit on their laurels, and their enthusiasm for the future is infectious. “We realize it’s a unique opportunity to take the reins of a company with this kind of prestige in any industry, but extremely rare in construction,” Carlstedt said. “The guys

Two generations of builders (from left) Eric Carlstedt, Bruce Giffin, Geoff Crane, and Derek Shue (Photo credit: Riley Yahr)

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Galin Kranz Group at Morgan Stanley Debra Galin Senior Vice President Wealth Advisor 805-564-7987 debra.a.galin@ morganstanley.com Sabrina Kranz Senior Portfolio Manager Vice President Financial Advisor 805-564-7985 1014 Santa Barbara Street Santa Barbara, CA 93101 advisor.morganstanley.com/ galin-kranz-group

Morgan Stanley recommends that investors independently evaluate particular investments and strategies, and encourages investors to seek the advice of a Financial Advisor. The appropriateness of a particular investment or strategy will depend on an investor’s individual circumstances and objectives.

Learn more @ joinnhpp.today Each office is independently owned & operated

CABRE#01280302

CRC 3019930 04/20

WINTER 2020

CS 9935418 11/20

JOB INFORMATION 9935418 / 605055383

PROJ. NO.:

TRIM SIZE:

SPECIFICATIONS 4.858" × 12.55"

NOTES

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Montecito JOURNAL

Homes805 by Zach Rosen

Putting Your Home in Good Hands

Leanne and Murray Wood of Homes805 provide caring property management for each home they oversee

ith over fifty percent of the homes in the area being rentals, and many of the owners living outside of the region, property management plays a vital role in maintaining the range of real estate found throughout Santa Barbara and Montecito. Many houses have just mom and pop homeowners who may not have the time to oversee their properties or do not want the added stress of maintaining the home they own. Leanne Wood, with her years of experience from founding and owning a real estate company in North Carolina, and as the current executive director of Village Properties, was well aware of

22 Montecito JOURNAL

this. From her experiences in the area, she found a real need for high quality property management and decided to start her own independent venture, Homes805, with her husband, Murray Wood. Together they wanted to create a property management that provides superior service to each client and does not cut any corners in anything they do. Homes805 combines Leanne and Murray’s extensive experience in real estate and property management with their dedication to quality care for their clients. Their services include everything from moving in and out tenants to rent collection and home repairs from their cadre of top-quality vendors that have all been vetted by them. If a serious REAL ESTATES

problem does occur with the property, or even if it’s just a simple maintenance issue, both the owner and tenant want to make sure it is taken care of promptly. Over the years Leanne has noticed a lack of communication and responsiveness from property management companies and wanted to make sure that was not the case with Homes805. They are available 24/7 and respond within hours of any request, providing a caring ear and quick, active action with skilled and reliable vendors. Homes805 is there to not just meet the needs of the homeowners but the tenants as well. Homeowners are seeking long-term tenants and it can be hard to keep one if they are frustrated with the upkeep of the home and feel like their needs are not being met or heard. Homes805 is there to listen to both the homeowner and tenant, addressing the needs of both and facilitating communications between the two. They can also assist with the application and rentee selection process, ensuring homeowners find reliable and trustworthy tenants that will last. Of course in the area there are many estate owners who split their time between several properties and may not necessarily have anyone living onsite at their local property year-round. To address the needs of these clients, Leanne and Murray launched their Concierge program that brings an extended offering of services to the estate, with the same care and attentiveness that they bring to each client. From gardening services and property maintenance, to weekly inspections and even being on call with the property’s security systems, this service is catered to the specific needs of each estate. They can also hold and receive mail and packages, forwarding them as needed, or just leave food and care packages in the home as a warm welcome for when the owners return. The Concierge service can provide peace of mind to the owners knowing that their estate is being well-maintained in their absence. Whether it is renting a property or maintaining an estate, homeowners can sleep well at night (in their other home’s bed) knowing that their Santa Barbara property is in the compassionate care of Leanne, Murray, and Homes805. For more information visit: homes805.com 805.284.7177

WINTER 2020

An active year for the 93108 A big thanks to my clients, colleagues and professional vendors who make it all possible.

MONTECITO SALES 2020

Picacho Lane $6,995,000 // represented seller

Summit Lane $4,975,000 // represented buyer

Sawyer Avenue $2,200,000 // represented seller

Picacho Lane $5,700,000 // represented seller

Penny Lane $5,495,000 // represented seller

Lilac Drive $2,975,000 // represented seller

$5,195,000 // represented seller

Willina Lane $2,350,000 // represented seller

Santo Tomas $2,300,000 // represented seller

Chase Drive

Romero Canyon Road $1,739,000 // represented buyer

Ashley Road

$1,625,000 // represented seller

Sheffield Drive $1,675,000 // represented seller

REPRESENTED BUYER Chase Drive // $1,595,000 Eucalyptus Hill Road // $3,895,000 Middle Road // $3,275,000 Chelham Way // $2,030,000

CRYSTA METZGER 805.453.8700 | CrysMetz@me.com PropertyinSantaBarbara.com CalRE#01340521 The property information herein is derived from various sources that may include, but not be limited to, county records and the Multiple Listing Service, and it may include approximations. Although the information is believed to be accurate, it is not warranted and you should not rely upon it without personal verification. Real estate agents affiliated with Coldwell Banker Realty are independent contractor sales associates, not employees. ÂŠ2020 Coldwell Banker. All Rights Reserved. Coldwell Banker and the Coldwell Banker logos are trademarks of Coldwell Banker Real Estate LLC. The Coldwell BankerÂŽ System is comprised of company owned offices which are owned by a subsidiary of Realogy Brokerage Group LLC and franchised offices which are independently owned and operated. The Coldwell Banker System fully supports the principles of the Fair Housing Act and the Equal Opportunity Act.

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Montecito JOURNAL

Snapshot (Continued from page 14 14))

November 2020 and November 2019 in number of units sold (137 in 2020 and 81 in 2019), median sold price ($1.7M versus $1.27M), average sold price ($2.5M versus $1.6M), and average days on market (40 in 2020 versus 51 in 2019). At the end of November, our median sales price year-to-date for single-family homes, estates, and PUDs from Goleta to Carpinteria, was $1.55M, which is up significantly from 2019 ($1,287,000). This is the highest median sales price we’ve ever seen. There are also a significant number of pending sales compared to this time last year; 133 now versus 94 at the end of November 2019. Similar to Montecito, sales in the Santa Barbara South Coast peaked in September with 177 homes sold, and we’ve seen a decrease in both October (153) and November (137). This is a normal shift as we head into the holiday and rainy season. The number of sold properties on the Santa Barbara South Coast is up 14.6% from last year: 1,200 compared to 1,047 in 2019, year-to-date. Again, this is the highest number of sales we’ve ever seen YTD! Average sold price is also up 13.5% from last year. The condo stats county-wide tell a similar story: units sold are up from 416 to 393; median sales price is up 10.3% to $725K; average sales price is up 20% to $937K; and days on market is significantly down, from 72 days in 2019 to 32 days this year. This is, of course, fantastic news for sellers in the condo segment of the market. There are currently about 326 active listings from Goleta to Carpinteria,

A Winter Cool Down

s is expected when the weather cools and we approach the holiday season, we are seeing a slight cooling off of the Montecito market, along with the greater Santa Barbara County market. As of this writing there are currently 70 active properties in the Cold Spring School and MUS districts, as well as 10 additional listings currently in escrow. There are nine properties marked “Coming Soon” in the Santa Barbara MLS in Montecito, priced from $3,250,000 to $47,500,000. Of these current listings, 32 of them have dropped in price… which tells us the market is starting to level off and the increase in prices that we’ve seen all year is beginning to stabilize. Just in the last few weeks we’ve seen an uptick in price reductions in Montecito, as sellers begin to realize the market is not as hot as it was just a few months ago. In September, 41 homes changed hands, followed by 37 in October and 32 in November. Several agents report that many of their eager out-of-town buyers looking for a home in Montecito have cooled off on their search, due in part to the lack of inventory right now. I expect that as we move into the new year, we will see more inventory and thus more sales.

South County Statistics

Earlier this week, the Santa Barbara Multiple Listing Service released monthly numbers giving perspective of how today’s market compares to past years. As expected, that data shows a staggering difference between

Snapshot Page 404 404

2020 Montecito YTD Real Estate Report Median Price Trends Yea r

Ja n

Feb

Ma r

Apr

Ma y

Jun

Jul y

A ug

Sep t

Oct

No v

D ec

2015 2016 2017 2018 2019 2020

$3,995,250 $3,167,500 $2,250,000 $3,000,000 $2,400,000 $2,370,000

$2,410,000 $4,000,000 $2,536,000 $2,357,500 $3,325,000 $2,447,500

$2,275,000 $2,612,500 $2,312,500 $3,400,000 $2,851,000 $2,479,500

$1,872,500 $1,979,000 $2,405,000 $1,725,000 $3,013,750 $2,050,000

$4,300,000 $2,377,500 $3,200,000 $2,737,500 $2,992,500 $3,225,000

$2,720,000 $2,545,000 $2,800,000 $2,850,000 $2,125,000 $3,795,000

$2,325,000 $2,500,000 $3,219,000 $2,655,000 $2,832,750 $3,055,000

$1,950,000 $2,167,500 $3,374,500 $2,582,500 $4,200,000 $2,975,000

$2,840,000 $2,037,500 $3,140,250 $2,535,000 $2,900,000 $3,725,000

$2,165,000 $2,575,000 $2,415,000 $2,212,500 $3,202,000 $2,707,500

$2,734,500 $1,831,000 $1,700,000 $2,395,000 $2,990,000 $3,800,000

$1,825,000 $2,778,500 $2,280,000 $2,819,000 $3,290,000

YTD Montecito Median Price 5,000,000 4,500,000 4,000,000 3,500,000 3,000,000 2,500,000 2,000,000 1,500,000 1,000,000 500,000 0

Jan

Feb

Mar

Apr

2015

24 Montecito JOURNAL

May

2016

Jun

2017

July

2018

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Aug

2019

Sept

Oct

Nov

Dec

2020

WINTER 2020

Recently Sold in Montecito

2845 Sycamore Canyon Road | $39,750,000

2140 Alisos Drive | $5,388,000

806 Camino Viejo Road | $1,995,000

1984 Inverness Lane | $5,400,000

DUSTY BAKER 805.570.0102 | DustyBakerRealEstate.com

© Sotheby’s International Realty, Inc. All rights reserved. Sotheby’s International Realty® is a registered trademark. This material is based upon information which we consider reliable but because it has been supplied by third parties, we cannot represent that it is accurate or complete and it should not be relied upon as such. This offering is subject to errors, omissions, changes including price or withdrawal without notice. If your property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. We are happy to work with them and cooperate fully. Operated by Sotheby’s International Realty, Inc. Real estate agents affiliated with Sotheby’s International Realty, Inc. are independent contractor sales associates and are not employees of Sotheby’s International Realty, Inc. Equal Housing Opportunity. Featured Agent: Dusty Baker DRE: 908615

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Montecito JOURNAL

For those who seek an exceptional life 1015EMOUNTAIN.COM

985PARKLANE.COM

NEW LISTING | 1155ALISOS.COM

1954EASTVALLEYRD.COM

World-Class Ocean View Villa

Ocean View Estate

Villa on Approx 102 +/- acres

La Ladera Montecito

MONTECITO | 6BD/9BA/3HBA | $16,950,000

MONTECITO | 5BD/7BA/1HBA | $12,000,000

SANTA YNEZ | 3BD/4BA/1HBA | $9,300,000

MONTECITO | 6BD/8BA | $8,950,000

Dusty Baker 805.570.0102

Sandy Lipowski 805.403.3844

Brady Group 805.331.3053

Maureen McDermut 805.570.5545

NEW LISTING | 4277CRESTA.COM

1506MIRAMAR.COM

650STODDARDLANE.COM

117CRESTVIEW.COM

Hope Ranch Ocean View Estate 1506 Miramar Beach

Quintessential Compound

Ocean View Mediterranean

SANTA BARBARA | 4BD/5BA/1HBA | $7,500,000

MONTECITO | 2BD/2BA | $6,495,000

MONTECITO | 5BD/4BA | $5,129,000

SANTA BARBARA | 5BD/5BA/1HBA | $4,995,000

Harry Kolb 805.452.2500

Delicia Lumpkins 805.637.9482

Sandy Stahl 805.689.1602

E. Benson 805.324.4587 , S. Stahl

428TOROCANYON.COM

87SEAVIEW.COM

4137HIDDENOAKSRD.COM

1705EASTVALLEYROAD.COM

Island Style Ocean View Retreat

Designer Tree Top Living

Contemporar Mediterranean Opportunity Awaits

SANTA BARBARA | 3BD/3BA | $3,250,000

MONTECITO | 2BD/2BA | $2,595,000

SANTA BARBARA | 3BD/3BA | $2,249,000

MONTECTIO | $2,100,000

Jason Siemens 805.455.1165

Julie Greener 805.895.4616

T. Mearce 805.450.3336, R. Marvin

Richard Cheetham 805.901.7921

MONTECITO, SANTA BARBARA, SANTA YNEZ VALLEY BROKERAGES | SOTHEBYSREALTY.COM © Sotheby’s International Realty, Inc. All rights reserved. Sotheby’s International Realty® is a registered trademark. This material is based upon information which we consider reliable but because it has been supplied by third parties, we cannot represent that it is accurate or complete and it should not be relied upon as such. This offering is subject to errors, omissions, changes including price or withdrawal without notice. If your property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. We are happy to work with them and cooperate fully. Operated by Sotheby’s International Realty, Inc. Real estate agents affiliated with Sotheby’s International Realty, Inc. are independent contractor sales associates and are not employees of Sotheby’s International Realty, Inc. Equal Housing Opportunity. DRE License Numbers for All Featured Agents: Dusty Baker: 1908615 | Sandy Lipowski: 1355215 | Micah Brady: 1219166 | Mike Brady: 825140 | Jennifer Nation: 1217818 | Maureen McDermut: 1175027 | Harry Kolb: 00714226 | Delicia Lumpkins: 02030037 | Elias Benson: 2019815 | Sandy Stahl: 1040095 | Jason Siemens: 1886104 | Julie Greener: 1250774 | Tyler Mearce: 1969409 | Renee Marvin: 2056190 | Richard Cheetham: 2032454

26 Montecito JOURNAL

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WINTER 2020

SOLD | 949 Toro Canyon Road | Offered at $8,200,000 | Represented Seller

SOLD | 770 Ladera Lane | Offered at $7,500,000 | Represented Seller & Buyer

Congratulations from Sotheby’s International Realty on an outstanding year Vivienne Leebosh

Caroline Santandrea

805.689.5613 | vleebosh@cox.net

805.452.0212 | csantandrea@cox.net Montecito - Coast Village Road Brokerage 1165 Coast Village Road, Suite A | Montecito, CA | sothebysrealty.com

WINTER 2020

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Montecito JOURNAL

Th e Fi n e s t M o n t e c i t o & S a n t a B a r b a r a H o m e s Presented by

2 0 2 O Y E A R I N R E V I E W. . . •

Cristal ranked the #1 Individual Agent in the entire Santa Barbara MLS *

• •

Cristal ranked the #1 Individual Agent in California for sales volume **

Cristal ranked the #1 Agent in the Nation for sales volume out of over 60,000 agents worldwide ** • •

Year-to-Date Sales in excess of $244,000,000

56 Closed Transactions, representing 36 sellers and 20 buyers •

Exceptional representation across a broad spectrum:

Highest Sale —$26,500,000 | Lowest Sale —$667,500 ***

S t r i k i n g C o n t e m p o r a r y O c e a n Vi e w E s t a t e i n M o n t e c i t o EAST MOUNTAIN DRIVE • 4 Bed, 6 Bath Main Residence • 1 Bed, 1 Bath Guest House • Approx. 3 Acres • Dramatic Ocean Views Finest Attention to Detail • Extensive Indoor/Outdoor Amenities • Private Well • Thoughtful Infrastructure• Offered at $22,000,000

© 2020 Berkshire Hathaway HomeServices California Properties (BHHSCP) is a member of the franchise system of BHH Affiliates LLC. BHHS and the BHHS symbol are registered service marks of Columbia Insurance Company, a Berkshire Hathaway affiliate. BHH Affiliates LLC and BH *As of December 1, 2020 . ** For Berkshire Hathawa

28 Montecito JOURNAL

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WINTER 2020

Premier French Country-Style Estate PICACHO LANE • MONTECITO Sensational Grounds w/ Mtn Views 6 Bed, 11 Bath Main Residence 2 Additional Detached Structures Countless Amenities: Pool, Spa, Tennis Offered at $17,500,000

Mediterranean-Style Ennisbrook Estate MEADOWBROOK LANE • MONTECITO 5 Bed, 9 Bath Main Residence 2 Additional Detached Structures Approximately 2.05 Picturesque Acres Expansive Grounds w/ Pool & Spa Offered at $9,495,000

Mid-Century Modern Blufftop Home DORWIN LANE • SANTA BARBARA Sensational Ocean, Island and Coastline Views 4 Bed, 4.5 Bath Residence Exceptional Value for Oceanfront Property Located in a Gated Enclave w/ only 12 Homes Offered at $6,450,000

French Country-Style Showcase BOUNDARY DRIVE • MONTECITO 4 Bed, 4.5 Bath Residence Incredible Scale & Attention to Detail Designed by Michael L. Hurst, Completed in 2019 Birnam Wood Conveniences & Amenities Offered at $5,475,000 M O R E L U X U R Y R E A L E STAT E : C r i s t a l @ M o n t e c i t o - E s t a t e . c o m • 8 0 5 . 8 8 6 .9378 • w w w. M o n t e c i t o - E s t a t e . c o m • D R E # 0 0 96 8247

HHSCP do not guarantee accuracy of all data including measurements, conditions, and features of property. Information is obtained from various sources and will not be verified by broker or MLS. Buyer is advised to independently verify the accuracy of that information. ay HomeServices Agents. **Since 1/1/2018

WINTER 2020

REAL ESTATES

Montecito JOURNAL

G E T AC Q UA I N T E D

WITH

M AU R E E N M C D E R M U T Selling the Montecito & Santa Barbara Lifestyle

Maureen is known for full real estate

“I help people realize the lifestyle they have always imagined.”

concierge level service. Her business is based on three core values and ethics: integrity, honesty, and great communication. These qualities, enhanced by a tenured background in private banking, in- depth community, market knowledge, and effective negotiation expertise, is a critical skill set establishing Maureen as an illustrious real estate professional. Ranked consistently among the top 1% of Agents in Santa Barbara and Sotheby’s

International

Realty,

Maureen has 20 plus years of experience specializing in residential real estate.

“Luxury is not a price point, it’s a level of service”.

Maureen McDermut

Maureen.McDermut@sothebyshomes.com 805.570.5545 | MaureenMcDermut.com Montecito - Coast Village Road Brokerage | 1165 Coast Village Road, Suite A | Montecito, CA | sothebysrealty.com © Sotheby’s International Realty, Inc. All rights reserved. Sotheby’s International Realty® is a registered trademark. This material is based upon information which we consider reliable but because it has been supplied by third parties, we cannot represent that it is accurate or complete and it should not be relied upon as such. This offering is subject to errors, omissions, changes including price or withdrawal without notice. If your property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. We are happy to work with them and cooperate fully. Operated by Sotheby’s International Realty, Inc. Real estate agents affiliated with Sotheby’s International Realty, Inc. are independent contractor sales associates and are not employees of Sotheby’s International Realty, Inc. Equal Housing Opportunity. Maureen McDermut DRE: 1175027

30 Montecito JOURNAL

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WINTER 2020

RECENT SALES & CLIENT TESTIMONIALS

Montecito 1460 BONNYMEDE DRIVE $7,315,000 | Represented Seller

Montecito 854 PARK LANE $6,550,000 | Represented Buyer

Montecito 703 PARK LANE $6,500,000 | Represented Seller

Montecito 1321 SCHOOL HOUSE ROAD $4,940,000 | Represented Seller

Montecito 2069 BOUNDARY DRIVE $4,105,000 | Represented Seller

Santa Barbara 516 BRAEMAR RANCH LANE $4,025,000 | Represented Seller

Montecito 1385 PLAZA PACIFIC $3,450,000 | Represented Seller

Montecito 1430 N. JAMESON LANE $3,150,000| Represented Seller

Montecito 247 OLIVE MILL ROAD, PARCEL 19 $2,817,500 | Represented Buyer

“ She was a fabulous agent - efficient,

“We are extremely grateful for her focus and

“If you want no drama, understated,

straight to the point, told us what we needed

success in getting us what we asked for in

elegant, efficient and an exceedingly

to do, hard-working and focused. ”

terms of price, as well as great service and

experienced agent, call Maureen.”

- 2020 SELLER

communication! ”

- 2020 BUYER

- 2020 SELLER

WINTER 2020

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Montecito JOURNAL

Together We Grow

“American Riviera was helpful all through the process of buying our first home. They were patient and had an answer for every question. They were so great, we came back to purchase our next home!” — Kelly and Elizabeth Hahn, Homeowners

What does True Community Banking mean? It means we invest in helping you and our community grow. Your success is our success.

Let’s grow together. HOM E EQU I T Y L I N E S | CON FOR M I NG & J U M BO MORTG AG E S | BR I D G E LOA NS

AmericanRiviera.Bank • 805.335.8150 Santa Barbara • Montecito • Goleta • San Luis Obispo • Paso Robles

32 Montecito JOURNAL

REAL ESTATES

NMLS# 808293 WINTER 2020

TIM WALSH TOP PRODUCING LUXURY REAL ESTATE AGENT FOR +38 YEARS Client satisfaction is my #1 priority. The highest honor I could ever achieve is having my past and current clients refer me to others.

PARTIAL LIST OF 2020 SALES 630 HOT SPRINGS ROAD | Montecito, California

665 LAS ALTURAS | Santa Barbara, California

103 OLIVE MILL ROAD | Montecito, California

128 ANACAPA | Santa Barbara, California

107 OLIVE MILL ROAD | Montecito, California

52 OLIVE MILL ROAD | Montecito, California

105 OLIVE MILL ROAD | Montecito, California

690 OLIVE AVENUE | Carpinteria, California

OFFERED AT $14,500,000

OFFERED AT $2,925,000

OFFERED AT $5,250,000

OFFERED AT $2,695,000

OFFERED AT $3,695,000

OFFERED AT $2,095,000

OFFERED AT $2,995,000

OFFERED AT $1,195,000

790 ROCKBRIDGE | Santa Barbara, California

811 CAMINO VIEJO | Montecito, California

OFFERED AT $2,995,000

AVAILABLE TO RENT AT $60,000 (monthly) | FOR SALE AT $7,495,000

TIM WALSH 805.259.8808 | tim@villagesite.com TimWalshMontecito.com | DRE 00914713 All information provided is deemed reliable, but has not been verified and we do not guarantee it. We recommend that buyers make their own inquiries.

@timwalshmontecito on IG

WINTER 2020

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Montecito JOURNAL

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. Mark can be reached at Mark@Villagesite.com or call/text 805-698-2174

2020, What a Year It Has Been… So Far

s we begin to slow the ride on this incredible rollercoaster of a year, it is important to consider all that has changed in the past 11-plus months. The pandemic, the political and social climate of uncertainty, the business and day-to-day implications of these circumstances that make it feel like a lifetime of adjustment all in one year for so many. Generational changes forced into months of planning instead of years, long-term goals and major plans put on hold and all the rest – not to mention the need for people to maximize the functionality of their homes and property to accommodate for more time and often more people, living and working at home. Work, for those who are able to do so remotely, schooling at all grade levels often from home, recreation and family entertainment, have all turned inward to each other and our homes and how we use them have become more important than ever. It may seem to those who may only read the headlines that residents in the Montecito area were not hit with the same financial hardships facing most of the population of the United States. But let’s remember that not everyone who lives here is a multi-millionaire. Wealthy, or just over the hurdle financially and in position to buy a property in Montecito, there is most commonly a shared perspective of why someone wants to live here. This is a place of beauty that offers most every service, restaurant type, and of course the recreational opportunities such as our lovely beaches, hiking trails, and meandering streets. All hail the new walkways put in place, and those to come, connecting the Upper and Lower villages. With its proximity to Los Angeles, the cultural advantages of the greater Santa Barbara and UCSB arts and entertainment structures (Arts & Lectures, the plays, the symphony, the Granada, Lobero and Arlington theaters, the SB Film Fest and more), Montecito is a unique place. But for now, with all of that on hold, we just have the land and the air, and for that alone, Montecito can’t be beaten. As we wrap up this year in the Montecito real estate market, here is a quick look at Montecito real estate sales (in the Multiple Listing Service, MLS), through the end of November 2020. The statistics reveal a year on paper that is incomparable to any year in the past, in both volume of sales and number of sales exceeding $10 million. From Jan 1 through November 30, 2020, there were 315 sales in the MLS, up a whopping 40+/-%, over normal years and still with December to report. We will likely close out 2020 with approximately 350 home and condo sales between January and December, when normal years have seen more like 225-250 homes sold. This year saw a record number of off-market sales, with numerous jaw-dropping sales at more than $20 million and two sales over $40 million on Picacho Lane within weeks of one another. These are prices we have not seen in Montecito, ever, prices more generally reserved for top streets in Beverly Hills, Brentwood, and the Sunset Strip. It seems that people have finally noticed what real estate agents in the area have known all along, that Montecito is worth the price of admission, at every level of the pricing food chain. As is normal, about 50 percent of all sales in Montecito this year on the MLS have been in the $3 million and less range. To that end, there are only a dozen or so homes and condos listed for less $3 million in all

34 Montecito JOURNAL

of the 93108 zip code. The available housing inventory for sale in Montecito, in all price ranges, has never been lower. There are, as of December 9, only 79 homes and condos to choose from across all price ranges in Montecito – from $699,000 for a cottage in the hills to a half dozen or so choices in the $25 million-plus range and everything in between. Most of the properties available at this moment are asking for more than $4 million, a price range that Montecito is more commonly known for. However, there will always be condos and smaller cottages on quiet lanes for those in the lower price ranges to fight over. Of the 79 homes and condos I was able to choose from for this feature, here are six homes available across all price ranges of $3 million and more that are on the market at the time of writing. Additionally, with no intention, all homes featured here are within the Montecito Union School District. Here is hoping that you have a great holiday season and I’m looking forward to seeing what’s what in 2021 – some rain for the area, it is hoped, and the continued efforts by all who live here to maintain the natural beauty of Montecito and the open communication residents have that make this a special place to live.

1399 Plaza Pacifica – $3,595,000

his is a great opportunity to own a remodeled top floor, single-level beach side condo at Bonnymede, boasting solid ocean views and a spacious patio. Soak up the glimmering ocean vistas from the living room, dining area, master bedroom, and open air balcony. Step out to the balcony situated off the living room and master bedroom, and admire views from Hammond’s Beach down the coastline to Ventura. The chic 2 bedroom, 2.5 bathroom condo features higher ceilings, a travertine fireplace, wood paneled walls, wide plank oak flooring, marble counter tops, contemporary white lacquered kitchen cabinets, and new appliances. The two en-suite bedrooms feature remodeled bathrooms and nice natural light. There is in-unit laundry and a two-car garage, a rarity within the complex. Additional value added features include common area tennis, swimming pool, and beachfront area, all within the 24 hour, guard gated complex.

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Real Estate Page 36 364 WINTER 2020

SHEELA HUNT

MARK HUNT

805-698-3767 sheela@villagesite.com SheelaHunt.com DRE 01103376

805-698-2174 mark@villagesite.com MarkAshtonHunt.com DRE 01460852

Thank you to all of our clients for working with us and trusting us with your Real Estate sales and purchases over the years. We send everyone our most heartfelt Seasons Greetings as we wrap up 2020 and head into 2021 with optimism and hope. Find us online at www.MontecitoAndSantaBarbaraHomes.com & www.MontecitoBestBuys.com

~ RECENT SALES IN MONTECITO, SANTA BARBARA, SUMMERLAND, AND CARPINTERIA ~

D L O

~ RARELY AVAILABLE COASTLINE VIEWS AVAILABLE NOW IN SUMMERLAND ~ Nestled within the gated community at Summerland Cottages this bright and open floor plan home boasts 4 Bedrooms, 3.5 Bathrooms with 3,250+/- square feet of living space. There is an additional 600+/- square feet of storage area adjacent to the 2 car attached garage, along with multiple decks, patios and outdoor entertaining areas, all on a usable .24 acre lot with these incredible views. Close to SB Polo Club, Padaro Beach, Summerland Village and Montecito. Offered at $3,195,000

2623 Caspia Lane

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Montecito JOURNAL

Real Estate (Continued from page 34 34)

munity. The 1975 Wallace Neff Estate was reimagined in 2014 for today’s lifestyle and includes more than 6,000 square feet of living space. The impressive 2-story living room, full of rich details and bathed in southern light, opens to a large entertaining terrace that offers views to the sea. The cozy family room opens to an all-white kitchen featuring premium appliances, noticeably the La Cornue range, and custom cabinetry. The entire second level of the home is dedicated to the spacious, ocean-view primary suite with dual soaking baths and closets. The balcony overlooks the pool, spa, and a large studio, ideal for meetings and movies. Start or end your days backed by a warm fire on the terrace. Meander to the clubhouse for dinner or meet friends for a round of golf, all located between the beaches and the mountains in Montecito.

789 Park Lane – $5,250,000

1811 Fernald Point Lane – $9,250,000

here two famed Montecito streets merge, near the corner of Park Lane and East Mountain Drive is this 1.65-acre estate, comprised of 8 bedrooms and 6.5 bathrooms, all within the cared for, 1937 Monterey Colonial home. Near hiking trails and the San Ysidro Ranch, the home encompasses 7,000+/- square feet of living space with a 2-bedroom guesthouse and mature landscaping with oak and olive tree groves. This is a great opportunity with a close in location, and with neighboring sales around or above this price. Move in as is, or remodel to suit your tastes. Generously proportioned living areas include an impressive great room, grand dining room, primary suite with his and hers baths, and a sitting area that opens to the wraparound veranda. An entertainment terrace just off the great room and dining room provide classic California indoor/outdoor living. There is ample parking, and the home is located just five or six blocks from the Upper Village in Montecito for those who can and like to walk to town.

1908 Boundary Drive – $8,450,000

ituated in the oceanfront-gated community at Fernald Point, this sophisticated, tri-level contemporary home offers ocean front views from nearly every room. Surrounded by mature trees and beautiful landscaping, the nearly 3,500-square-foot, 4-bedroom home includes a beachfront entertainment deck, with room for enjoyment of the 50-foot wide stretch of sandy beach frontage. At the entrance to the home, large modern metal-clad doors open to unveil striking ocean, island, and coastline views. Bright, natural light pours in through multiple skylights, highlighting the Maple flooring. Floorto-ceiling glass sliders frame the stunning vistas and invite one to step out onto the large ocean-facing balcony. The spacious upper level floor plan offers a natural flow throughout the kitchen, living, and dining areas. Accentuating the home’s sleek feel is a central Maple spiral staircase that leads to the lower level rooms, bedrooms, and to the expansive ocean-facing deck – and from there enjoy direct access to the sand and surf.

975 Lilac Drive – $14,900,000

O T

his is a very rare opportunity to own an ocean view, two-story pool home within the exclusive, 24-hour guard-gated Birnam Wood com-

36 Montecito JOURNAL

cean views, timeless architecture, and world-class craftsmanship coalesce in a magical Montecito location on Lilac Drive. Designed by Marc Appleton and built by Leonard Unander Associates, Villa Ravello is an incredible estate with understated elegance and an easy sense of sophistication. Long site lines showcase thoughtful details throughout the home. Nearly every room in the residence opens to a terrace and different natural beauty:

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Real Estate Page 54 544 WINTER 2020

SUSAN JORDANO & BRIAN KING are celebrating a S U CC E SS F U L

30 PLUS YEARS of REAL ESTATE between them!

•

Susan and Brian are a highly productive agent team with a solid concentration on clients’ needs. Their respective knowledge and experience with the Santa Barbara Real Estate market make them one of the most qualified agent teams to represent you in your home buying or selling goals, especially in today’s market! Give Susan or Brian a call today for your next real estate success.

SUSAN JORDANO 805-680-9060 sjordano@villagesite.com susanjordano.com DRE # 01775462

WINTER 2020

BRIAN KING 805-452-0471 brianking@villagesite.com villagesite.com DRE # 01868186

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Montecito JOURNAL

Behind the Vine by Hana-Lee Sedgwick

No Fuss and No Chemicals, a Natural Wine Trend Here to Stay

atural wine refers to wine made from grapes farmed without pesticides and with minimal intervention in the cellar, meaning nothing is added or removed. Devotees think of it as the purest form of wine, and something as essential as choosing to eat organic foods. The arrival of two new natural wine-focused bars to downtown Santa Barbara proves the natural wine trend is not just growing here, it’s here to stay. Venus in Furs is the newest venture from longtime hospitality pros Brandon Ristaino and Misty Orman, co-owners of Good Lion Hospitality Group (The Good Lion, Test Pilot, Shaker Mill), who teamed up with Santa Barbara-based chef and restaurateur Julian Martinez, of Barbareño and Cubaneo. Located on East Cota Street in what was formerly The Middle Child, Venus in Furs – named after the Velvet Underground song – is a wine bar and retail shop with punk rock vibes and an unapologetic commitment to serving natural wine and locally inspired seasonal food.

38 Montecito JOURNAL

Running the wine list is Lenka Davis, the longtime wine director of Barbareño who highlights producers from across the globe through a diverse selection of organic and biodynamic wines. Available by the glass or bottle, wines are divided into categories such as “Electric Whites,” “Chillable Reds,” and

Venus in Furs is a wine bar and retail shop with punk rock vibes and an unapologetic commitment to serving natural wine and locally inspired seasonal food (photo credit: Rob Tran)

“Pitch-Black Reds.” “Our wine list is about transparency, and the lack thereof in conventional winemaking,” explains Ristaino. “We give

a polite and subtle middle finger to the 70-plus legal chemicals used in conventional winemaking; it’s more about showcasing the magic in grapes when winemakers trust the natural process, and offering those wines to people in an approachable, no fuss way.” Complementing the wine selection are several ciders, beers, and wine-based cocktails, plus a seasonal menu of bites, shareable plates, and pizzas from chef Martinez. On any given day you’ll find a diverse array of flavors and ingredients that celebrate the bounty of Santa Barbara County, like tempura sweet potatoes with pistachio mayonnaise, zhoug, and mint; uni with burrata, charred sourdough, and chili honey; fried oysters with labneh, caviar lime, and tomatillo verjus; or sourdough pizza with mushrooms, truffle purée, and goat gouda. “We want Venus in Furs to be a place to drink great natural wine at an affordable price without any fussiness,” adds Ristaino. “We priced our wine and cocktails aggressively, and hope that this affordability allows for Venus to become a part of some folks’ normal routine, like it has our own.”

Complementing the wine selection are several ciders, beers, and wine-based cocktails, plus a seasonal menu of bites, shareable plates, and pizzas from chef Martinez (photo credit: Sundaecereal)

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For Starters

iving Santa Barbarans yet another reason to venture out for wine is Aperitivo, an Italianinspired wine bar from owner-operators Brian Dodero and Andrea Girardello – two food and beverage veterans who met while working at the Four Seasons Biltmore. Taking its name from the Italian tradition of gathering after work for a pre-dinner drink and snack, Aperitivo is a casually inviting wine bar focused on biodynamic and organic wines – 95 percent of which are from Italian producers – offered alongside a small but mighty menu of modern rustic Italian food. “Andrea is originally from Milan and is well versed in Italian wines, and I attended culinary school in Florence and have focused on Italian cuisine throughout my career, so naturally we looked to Italy for our inspiration,” shares chef Dodero, who adds that their partnership came about “organically” through their shared love of food and wine from Italy. Heading up the wine list is Girardello, whose Italian-heavy wine selection showcases many

WINTER 2020

Aperitivo is a casually inviting wine bar focused on biodynamic and organic wines – 95 percent of which are from Italian producers (photo courtesy: Aperitivo)

unique varietals from Italy, spanning from the Veneto to Sicilia, rounded out by a few Santa Barbara County producers – all available by the glass or bottle, as well as to-go. Also on offering: local beer, vermouth spritzes, and amaro, adding to the Italian spirit of Aperitivo.

Complementing the beverage menu is a selection of appetizers and shareable plates, each designed to highlight local, seasonal ingredients while approaching authentic Italian flavors in a modern way. “We source ingredients based on what’s fresh, in season, and with a

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focus on quality, which is why we get our seafood from local fishermen through The Santa Barbara Fish Market,” says chef Dodero. “Our pastas are made by hand, in-house using seasonal ingredients, and we import extremely fresh burrata from Puglia, Italy, which reaches us within a few days of being made. For each menu item, I like to highlight the main ingredient, adding components to elevate the dish while making subtle changes in texture to complement each bite.” Though food offerings change regularly, one can always expect to find a selection of bruschetta, like 20-hour slow roasted porchetta with arugula, parmigiano, and citrus; some sort of crudo, such as bluefin tuna sashimi with capers, basil, and chili oil; and, of course, house-made pasta, such as sweet potato gnocchi with brown butter, sage, and amaretti. “Aperitivo is designed to be a place to come together, to discover exquisite flavors and natural wines from the far corners of Italy, and celebrate new traditions in Santa Barbara,” says Dodero. “We are excited to finally see our vision come to fruition.”

Montecito JOURNAL

Snapshot (Continued from page 24 24))

including homes, condos, and PUDs. Eighty of these are currently pending. This translates to just a two-month supply of homes if no other homes are to come on the market. As a refresher, a six-month supply is considered a balanced market; fewer than six months is considered a sellers’ market and over six months is considered a buyers’ market. To say we have a twomonth supply of homes is pretty significant, showing just how low our inventory is. November marked one of the lowest inventory months I’ve seen: just 180 homes came on the market last month. In comparison, there were 343 homes on the market in November 2019. The lack of new listings continues to put upward pressure on our prices, and being a buyer in this market can be very frustrating. We are seeing wellpriced homes sell immediately with multiple offers, and they often sell for over asking price. There continues to be a high demand for good quality, realistically priced inventory, and the market most definitely favors sellers right now. Sellers should be aware, however, that pricing their homes too high may backfire. While buyers may be frustrated they are still savvy, and they are cognizant of the number of days, weeks, or even years a property has been on the market. The sweet spot in our market in the South County has historically been from $1M to $1.4M, but with an ever increasing median sales price, we are seeing higher price points fare just as well. Year-to-date, we saw an equal amount of sales from $1M-$1.5M as $1.5M-$2M, which indicates that buyers are stretching to jump into the next price bracket, and that we have new buyers in our marketplace.

What’s Next for Our Market

ith the COVID-19 pandemic worsening weekly, we are in uncharted territory in regard to the unknown economic ramifications the pandemic and associated government shutdown will have on our local real estate market moving forward. I predict that the spring will bring new listings, as it always does, and I believe that some lower price segments may even see an influx of listings as homeowners may be financially forced to sell or foreclose. If that happens, our sales prices could stabilize in certain price brackets, but I believe Santa Barbara and Montecito will continue to be an appealing place for buyers to settle down, both during the pandemic and after. Sellers who are contemplating listing their home may want to do so sooner rather than later, to capitalize on the historically low inventory right now. There are still many buyers who would jump at the chance to purchase a home, regardless of the upcoming holidays. Buyers will likely continue to enjoy record low rates, as noted later in this piece by local mortgage lender Jon McCuskey.

Montecito Picks at Every Price

ith only 81 homes to choose from in Montecito Union and Cold Spring School districts, there is only one available property (i.e. not currently in escrow) under $2M. For those looking to get into Montecito in this price

Keith C. Berry Thank you, South Coast Santa Barbara, for your confidence in allowing us to assist you with your Real Estate needs this past year. In honor of your continued support, and to promote community strength, donations have been made this year to the following organizations:

V N A H E A LT H F O U N D AT I O N LIFE CHRONICLES M O N T E C I T O C O M M U N I T Y F O U N D AT I O N BISHOP GARCIA DIEGO HIGH SCHOOL YO U N G A M E R I C A’ S F O U N D AT I O N S A N TA B A R B A R A AT H L E T I C R O U N D TA B L E M A R Y M O U N T O F S A N TA B A R B A R A M O N T E C I T O T R A I L S F O U N D AT I O N S C H O L A R S H I P F O U N D AT I O N O F S A N TA B A R B A R A KEITH C. BERRY, REALTOR® Global Luxury Specialist/ Architectural Properties Division Specialist Cellular 805.689.4240

Lic. 363833

1482 East Valley Road Suite 17, SB CA 93108

Email Keith@KeithBerryRealEstate.com

www.KeithBerryRealEstate.com

40 Montecito JOURNAL

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900 Chelham Way is the only available property under $2M in both MUS and CSS districts (listed by George Ambrose with Village Properties)

1284 Coast Village Circle, located behind Honor Bar, is on the market for $2,750,000 (listed by Angie Guiberteau of Compass)

point, 900 Chelham Way is a clean, spacious home overlooking a wooded area and seasonal creek. It’s located in the quiet neighborhood near Westmont College and Cold Spring School, and offers four bedrooms and four bathrooms in just under 2,500 sq. ft. It’s listed at $1,850,000 by Village Properties. For those wanting to be closer to the action of Coast Village Road, one of two condos is available at Plaza Montecito, the building which houses Honor Bar on the corner of Coast Village Road and Coast Village Circle. 1284 Coast Village Circle is a beautiful two-bedroom, two-bath, three-level luxury condo in the heart of Montecito’s bustling business district. Tucked behind the commercial tenants, the residential component of the building is private and sophisticated, with a high-end kitchen and living area, two bedrooms on the second level, and a rooftop deck on the third level, all accessible with an in-unit elevator. The deck is the ultimate area to entertain, with views of both the ocean and mountains. Listed for $2,750,000 by Compass. Another luxury condo on Coast Village Road is the final available unit at The Villas at Olive Mill, the new building on the corner of Olive Mill Road. The three-bedroom, five-bath residence boasts three terraces, with incredible mountain and ocean views. Luxury appointments include a gourmet

109 Olive Mill Road, the two-story penthouse at The Villas at Olive Mill, is listed for sale for $5,495,000 (listed by John Sener and Tim Walsh of Village Properties)

Snapshot Page 474 474

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 MTD 2020

Avg Price $2,122,573 $2,986,617 $2,921,686 $3,092,422 $3,345,281 $3,386,326 $2,814,635 $3,077,094 $2,428,436 $2,975,297 $2,810,283 $2,886,388 $3,615,674 $3,237,899 $3,566,905 $3,946,770 $3,854,656 $4,540,510

M e d P ri c e $1,606,542 $2,099,271 $2,223,271 $2,336,667 $2,560,417 $2,609,667 $2,186,104 $2,231,694 $1,915,887 $1,835,000 $2,050,000 $2,425,000 $2,550,000 $2,500,000 $2,925,000 $2,700,000 $2,851,000 $3,150,000

%chg Avg P ri c e 41% -2% 6% 8% 1% -17% 9% -21% 23% -6% 3% 25% -10% 10% 11% -2% 18%

$5,000,000

$4,500,000

$4,000,000

17-Year Price Trends Montecito

$3,500,000

$3,000,000

$2,500,000

$2,000,000

Avg Price

2020

2019

2018

2017

2016

2015

2014

2013

2012

2011

2010

2009

2008

2007

2006

2005

2004

$1,000,000

2003

$1,500,000

Med Price

Information deemed reliable but not guaranteed

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Montecito JOURNAL

Snapshot (Continued from page 20 20))

that used to pat me on the head when I was sweeping up sawdust are still here. We could never hold on to the culture Geoff and Bruce have created if we didn’t approach this team with the utmost respect, and have their respect in return.” Shue said that like Giffin and Crane, their partnership would contribute to their future success, with Shue’s strengths lying in the logistics of the build and Carlstedt’s more in the numbers. Their plans involve bringing in more technology, refining their systems to be even more efficient, and allowing space and time to train the next generation of builders. They are playing the long game, and making decisions with the generation that will come after them already in mind. What follows here is the rest of our interview where Giffin reflects on his career and ponders his legacy. Q. What has been the most rewarding part of your career? A. People keep asking what I will miss, and it’s absolutely the relationships we’ve made. One of my proudest moments was at our 25th Anniversary Party when we had 400 guests come together – half were in the trade, and half were our clients – and everyone had a great time. I love seeing the overlap. We have craftsmen from some of the most interior parts of Mexico working with our clients, who are the most affluent people in the world. What would you say is the biggest key to your success? Talking to other people in similar situations. In 1988 when we were struggling, my mom encouraged me to find the local builders’ associations. So, I got myself invited to a dinner and realized the power that can come from collaboration and communication. I went on to become the president of the Santa Barbara Contractors Association. Six months later, we had the Painted Cave Fire. Over 500 homes burned in one night, and we helped people put their lives back together. Then, in the ‘90s we had a horrible recession. We were all saying, “Stay alive until ‘95, it will be heaven in ‘97.” We went from 50 people to two, and nine months without a contract. I joined the Custom

Buying or Selling in 2021? Local Agent Over 20 Years Experience Matters Montecito Santa Barbara Santa Ynez Beach

Builders Symposium, put on by Builder Magazine, and from there, joined NAHB’s Builder20 Clubs peer groups locally. We got the mailing list of all the local traders and put on a lunch to discuss how we could work together to get through this time. It doesn’t matter if you’re the architect, builder, engineer, or interior designer – we realized the bottom line was that every industry wanted respect. We developed an ad hoc concept that would allow the contractor to come into the conversation with the architect earlier and help with design engineering and budgets. To this day, that concept is a key to our success on any project. What has been the hardest lesson to learn? I’ve had to learn that my job isn’t to make people happy. When I was younger, I thought it was. Along the way I learned there’s some people you just can’t make happy, even if you built them an amazingly beautiful home. My job is to build the best project possible to my satisfaction. If that happens to make people happy, well then that’s a huge plus, but it’s not my job. How did you create a company that is thriving past your retirement? Being smart has nothing to do with it. When I was heading up different groups and organizations, I watched a lot of smart people go out of business. And I knew I couldn’t leave it to a CPA to plan our future, because they are better at looking in the rearview mirror. An ESOP (Employee Stock Ownership Plan) wasn’t for us, and someone outside of the company would change the culture. We came up with a plan where two key employees could buy it over time, and ideally, it would provide for them what it did for Geoff and me. This was eight years in the making, and it’s taken a conscious effort to let go. It’s great to be the guy with the answers, but if you’ve built a business that can’t run without you, you don’t have a business, you have a job – and what’s worst of all, you’re working for an idiot. What is next for you? I’ve learned a lot about leadership from being on boards and from being around folks that know how to get things done. I’ve been able to share that with our company and uncovered it as a passion of mine. Today, I am announcing my next venture, Giffin Built, a Craftsman / Builder / Contractor Mentor & Coach LLC. I’m holding ten spots for builders, all outside of the area, so as not to infringe on our non-competition clause. As far as Giffin & Crane, I would love nothing more than for it to last another generation or two, or three...

Debbie Lee

805.637.7588 Call or Text DebbieLeeSB@gmail.com www.DebbieLeeSB.com CalRE# 01297968 Not intended as a solicitation if your property is already listed by another broker. Real estate agents affiliated with Coldwell Banker Realty are independent contractor sales associates, not employees. ©2020 Coldwell Banker. All Rights Reserved. Coldwell Banker and the Coldwell Banker logos are trademarks of Coldwell Banker Real Estate LLC. The Coldwell Banker® System is comprised of company owned offices which are owned by a subsidiary of Realogy Brokerage Group LLC and franchised offices which are independently owned and operated. The Coldwell Banker System fully supports the principles of the Fair Housing Act and the Equal Opportunity Act.

42 Montecito JOURNAL

Giffin’s last project is this carousel-like octagonal building with its raw framing exposed, soon to become a covered equestrian round pen (Photo credit: Riley Yahr)

Giffin stops, interrupting his thought to comment on the horses who have started a canter around their paddock: “Well, that’s beautiful to watch that isn’t it? Yep, and I still have one or two more books to write.” www.giffinandcrane.com

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Montecito JOURNAL

Welcome (Continued from page 18 18))

Montecito estate to Ellen DeGeneres in November for $49 million in an all-cash deal making it the second largest sale recorded for a home in Montecito in recent years. Miller’s property stretches across 4.3 acres and includes five structures. There is a 9,000-square-foot Cape Dutchstyle main house, a guesthouse, pool-house, a detached garage, and an infinity-edged swimming pool. It’s not just the entertainment industry. The titans of Silicon Valley have also been bitten by the Montecito bug. Eric Schmidt, the former chief executive of Google, and his wife, Wendy, purchased an 11-acre Montecito estate known as Solana, which was the site of a former think tank, for $30.8 million over the summer in an off-market transaction. The main house on Solana is a five-bedroom mansion with 360-degree panoramic views of the ocean, downtown Santa Barbara, and the Santa Ynez Mountains. Palm trees along with lemon and lime, banana, fig, and pomegranate trees dot the expansive property where luminaries like President John F. Kennedy, Martin Luther King Jr., and Henry Kissinger used to hold court when it was known in the 1950s as the Center for the Study of Democratic Institutions. Not far from where Schmidt planted his flag, a major investor in electric car manufacturer Tesla, Alan Salzman of VantagePoint Capital Partners, dropped $18 million in November on a new Montecito home. The Tuscan-style property, which was built in 2016 spans across three acres. The main house has eight bedrooms and 11 bathrooms and more than 13,000 square feet of living space. For this new class of super-ballers, purchasing not one, but two eight-figure properties is becoming a ‘thing.’ In September, San Francisco-based investor Marc Stad, the founder of the Dragoneer Investment Group, and his wife, Elisa, paid $12.2 million for a seven-bedroom, 13-bathroom mansion with a full-size sports court and a 65-foot swimming pool. Three weeks later the couple added another home to their portfolio – a $29-million Mediterranean-style mansion in upper Montecito that has a 13,000-square-foot, six-bedroom main house and a motor court so massive, you could practically land a plane on it.

Escape from L.A.

t’s all been highly disorienting for those tasked with keeping up with the demand. “When we first went into the March lockdown, we had no idea what the year would be like because we weren’t allowed to show houses,” says Robert Riskin, a partner in the Riskin Partners Estate Group brokerage house, which has shattered all of its previous transaction records this year by gaping margins. “By mid-April we started to see people calling more and more and the majority were people from L.A. and the Bay Area. They were looking for an escape and Montecito makes so much sense because it’s so close and it offers more land and all these activities. And that pace just kept going into May and June and then it was clear that a major shift was happening,” says Riskin. To put things in perspective: in 2015, the Riskin Group had a record year after notching $335 million in total year-over-year sales volume. No one inside the firm thought that they would ever come close to figure again. This year, the firm is on path to easily blow past $600 million in sales volume and all sectors of the market are performing. Travel restrictions caused by COVID helped fuel the boom. Whereas in years past, wealthy Californians would be jetting off to the East Coast, Hawaii, or even Europe, this year they were forced to stay local and by-and-large find vacation spots they could drive to. This prompted a huge surge in demand for spring and summer rentals in and around Montecito which brought in a new buyer pool who were exposed – in many cases for the very first time – to Montecito and its myriad charms. It wasn’t long before many of those renters, whose jobs and kids’ schooling quickly switched to ‘remote’ for the foreseeable future, morphed into prospective buyers. “We were blown away by the business we saw this summer,” says Rick Fidel, resort manager for Rosewood Miramar Beach, which has become an entry point of sorts for Montecito. “We didn’t host any weddings this summer so it was a different mix of business and leisure. Our guests had extended stays (compared to last year) and I know for a fact several came to stay with us for a week or longer because they were

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44 Montecito JOURNAL

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WINTER 2020

meeting with brokers looking for homes and rentals.” The fact that Santa Barbara County has been so successful in keeping COVID cases to a minimum has only added to its allure. To date, there have been a total of 11,481 recorded cases and 135 deaths, which is a fraction of the impact that the virus has had on Los Angeles County or San Francisco (inmates and employees at the Lompoc Federal Prison Complex account for a large portion of the county’s COVID-19 cases and deaths). Until the governor’s most recent lockdown order, bulking the Central Coast with all of Southern California, controlling the spread of the virus has allowed the county to maintain far more lax restrictions on movement and dining than in other places, which only compounds the appeal. To be clear, it’s not just billionaires moving in. According to data pulled from the MLS, there have been 237 transactions this year for homes that traded at $5 million and less. In 2015, which was another banner year, there were just 165 transactions in that price range. This year, there have been 68 homes that sold in the $5 to $10 million range. That’s almost triple the number that traded in that range in 2015 (24).

Putting Down Real Roots

he profile of buyers (the ones you’ve never heard of) is also a break from the past and suggests that many of the incoming residents are here to stay. Historically, the majority of buyers interested in Montecito were retirees or couples with grown kids. There were a lot of wealthy second homeowners who would cruise up from L.A.’s westside for long weekends. Since the spring, brokers are seeing many more young families moving to the area. The allure of Montecito is its expansive lots, low population density, world-class schools, beaches, mountain trails, and a floor-area ratio designed to preserve the area’s semi-rural nature. There are around 3,100

Welcome Page 484 484

The best little paper in America (Covering the best little community anywhere!) Executive Editor/CEO Gwyn Lurie • Publisher/COO Timothy Lennon Buckley Editor-At-Large Kelly Mahan Herrick, Ann Louise Bardach News and Feature Editor Nicholas Schou • Associate Editor Bob Hazard Copy Editor Lily Buckley Harbin • Arts and Entertainment Editor Steven Libowitz

Contributors Scott Craig, Julia Rodgers, Ashleigh Brilliant, Sigrid Toye, Zach Rosen, Kim Crail Gossip Richard Mineards • History Hattie Beresford • Humor Ernie Witham Our Town Joanne A. Calitri Society Lynda Millner • Travel Jerry Dunn • Sportsman Dr. John Burk • Trail Talk Lynn P. Kirst Account Managers Sue Brooks, Tanis Nelson, Casey Champion Bookkeeping Diane Davidson, Christine Merrick • Proofreading Helen Buckley Design/Production Trent Watanabe Published by Montecito Journal Media Group, LLC PRINTED BY NPCP INC., SANTA BARBARA, CA Montecito Journal is compiled, compounded, calibrated, cogitated over, and coughed up every Wednesday by an exacting agglomeration of excitable (and often exemplary) expert edifiers at 1206 Coast Village Circle, Suite H, Montecito, CA 93108. How to reach us: Editorial: (805) 565-1860; Sue Brooks: ext. 4; Christine Merrick: ext. 3; Classified: ext. 3; FAX: (805) 969-6654; Letters to Editor: Montecito Journal, 1206 Coast Village Circle, Suite H, Montecito, CA 93108; E-MAIL: tim@montecitojournal.net

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RARE INVESTMENT + DEV OPPORTUNITY

1314 Broadway, Santa Maria, CA | 127 Units Offered at $21,500,000 First time on the market in more than 25 years! This unique asset, comprising 125 residential units and 2 commercial units, is a rare find located smack in the center of Santa Maria, CA. The asset, situated in the city’s prime shopping area close to all the best neighborhood amenities, consists of a 3-story complex on nearly 5 acres. Once a hotel, the building now features 125 residential units that are predominantly studio configurations. Additionally, the lot offers an approximately 16,000 SF vacant commercial structure with fully approved plans to build an additional 53 units on site. The existing building boasts expansive common areas, carports, pleasant landscaping and a common area courtyard with swimming pool.

Steve Golis 805.879.9606 sgolis@radiusgroup.com

Contact the Golis Team for more information about this premier offering.

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Fidelity National Title Group-Santa Barbara Y T D Montecito Real Estate Report Yea r

Ja n

Feb

Ma r

Apr

Ma y

Jun

Jul y

A ug

Sep t

Oct

No v

D ec

To ta l

2015 2016 2017 2018 2019 2020

16 28 13 9 11 20

15 17 15 10 10 18

22 20 16 13 12 15

22 15 17 6 22 15

23 26 25 16 22 18

26 16 21 17 22 25

14 20 16 18 20 42

21 14 26 18 15 38

13 18 14 10 21 56

14 15 16 26 28 54

9 13 21 6 13 41

24 17 19 15 25

219 219 219 164 221 342

YTD Montecito Total Sales Volume 60 50 40 30 20 10 0

Jan

Feb

Mar

Apr

May

2015

Yea r

YTD Sales Total Co n d o s

SFR

TOTAL

2016 2017 2018 2019 2020ytd

22 23 16 19 37

180 177 133 177 305

202 200 149 196 342

Jun

2016

July

2017

Aug

2018

2019

Sept

Condo to Single Family Totals

195 202 200 149 196 342

Nov

Dec

2020

YTD Vo l ume 2015 2016 2017 2018 2019 2020

Oct

YTD Sales Volume compare

400 350 300 250 200

400

150

350 300

100

250

200

150

2015

100

2016

2017

2018

2019

2020

50 0 2016

2017

2018 Condos

Price Range (Millions)

0-2M 2 M + - 4M 4M + - 6M 6M + - 10M 10 M + TOTAL

2020 YTD 86 137 64 34 21 342

2019

2020ytd

SFR

10 M +

6M+ - 10M

0-2M

4M+ - 6M 2 M+ - 4M

2020 YTD Price Range Breakdown information deemed reliable but not guaranteed

46 Montecito JOURNAL

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Snapshot (Continued from page 41 41))

965 Park Lane boasts jaw dropping ocean views, for $8,900,000 (listed by Laurel Abbott with Berkshire Hathaway)

MANAGING YOUR HOME JUST GOT EASIER ESTATE MANAGEMENT PROPERTY MANAGEMENT SHORT & LONG TERM RENTAL MANAGEMENT (805) 229-1771 @MIRAMARLANESB WWW.MIRAMARLANE.COM

1530 Mimosa Lane is on the market for $11.5M, offering a flat 1.9-acres in the heart of the Hedgerow in Montecito (listed by Dan Encell with Berkshire Hathaway)

kitchen with large island, prep sink, and Perla quartzite counters with a Wolf 5-burner cooktop with range hood and dual wall ovens, a Sub-Zero refrigerator and wine chiller, and Bosch dishwasher. The unit includes a private three-car garage in the gated subterranean parking area, as well as a private elevator. Listed for $5,495,000 by Village Properties. Boasting incredible panoramic views, 965 Park Lane is my next pick. This Spanish Hacienda style four-bedroom plus an office home is classic Montecito style, complete with a south-facing infinity pool to take in the jaw-dropping views. Designed for entertaining, the floor plan accommodates indoor/outdoor gatherings of all sizes, and boasts a state-ofthe-art entertainment and sound system designed by Grammy Award winning sound engineer Allen Sides. Listed for $8,900,000 by Berkshire Hathaway. One of my favorite Hedgerow properties is on the market: 1530 Mimosa Lane. The extensively remodeled Spanish Revival style home is quintessential Montecito in its sophisticated but livable style, and has five bedrooms, five and a half bathrooms, and a newly-renovated guest cottage. The nearly two-acre property also includes a pool and pool pavilion, tennis court, and gym, and is located in close proximity to MUS, both the Upper and Lower villages, and the beach. Listed for $11,500,000 by Berkshire Hathaway. WINTER 2020

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Welcome (Continued from page 45 45))

homes in Montecito, and the town is best known for its Spanish Revival Architecture, although that may start to slowly change. Co-founder and design partner of the L.A.-based design-build practice, Marmol Radziner, Ron Radziner says that since March his firm has seen a spike in demand for its services on a variety of projects in Montecito. “There’s clearly something going on up there,” says Radziner, whose modernist homes have been central to the transformation of other seaside communities like Venice Beach. “In a place like Montecito where you have a gentle Mediterranean climate, you can spend so much time outside, so people who gravitate there appreciate that. The conversation we’re having with clients is about engaging nature.” He went on, “Often the sites we are looking at in Montecito are covered with native oaks and sycamores, or boulders and rocks and that’s a big piece of that conversation – how do we plan and design a home that works around these natural attributes along with the views of the mountains and ocean.” For the families moving to the area, the number one thing on their wish list according to multiple brokers is to live in the Montecito Union School district. The kindergarten to sixth grade school scores a nine out of ten stars from the nonprofit website GreatSchools.org. “I can’t tell you how many calls I get from buyers who say I want to spend $3 to $4 million and I want to be in MUS (Montecito Union School) and I’d love a pool,” says Michael Calcagno, a top agent with Calcagno & Hamilton, a team also associated with Berkshire Hathaway that had a record year, clearing $200 million in sales. “Nowadays, I can show that person maybe two properties and that’s a problem – there’s no inventory.” After selling their house earlier this year in Napa County’s St. Helena, Oliver Caldwell, founder of the San Francisco-based art gallery Caldwell Snyder, and his wife headed to Santa Barbara to visit their kids. It was their first stop on an extensive scouting trip of California coastal communities. “We went to every spot and met with brokers and toured spaces for a new gallery. Laguna Beach seemed too cheesy. La Jolla had lost its luster. It was all a real disappointment,” he said. Afterwards, during a meal at the Honor Bar, his wife noticed an empty shop across the street.

We Appreciate & Support our Community Unity Shoppe IFA Chapter #73 Cops & Kids Benefit Tournament CADA - Summit for Danny Doctors Without Walls - Santa Barbara Street Medicine Dos Pueblos Baseball Santa Barbara High School Theatre Santa Barbara High School Baseball Santa Barbara High School Lacrosse Ye Old Gange - Santa Barbara High School Football Alumni Boys and Girls Club of Santa Barbara Santa Barbara Dance Alliance Santa Barbara Food Bank

48 Montecito JOURNAL

United Boys and Girls Club of Santa Barbara County American Heart Association - The Santa Barbara Heart Walk Carpinteria Boys and Girls Club Girls Inc. Santa Barbara Education Foundation Alpha Resource Center - Katie’s Fund SB CAN Ka Nais Outrigger Canoe Club End Summer Hunger - SB Food Bank Notre Dame School Channel Islands YMCA Kellogg Elementary School PTSA Santa Barbara High School Soccer

They inquired and ended up opening Caldwell Snyder in the midst of global pandemic. “It’s been great and has far exceeded my expectations,” says Caldwell, who sells works from Pasadena artist Kenton Nelson and L.A. artist Charles Arnoldi. But he’s unsure whether Montecito’s current transformation will result in a thriving art and gallery scene. It’s not for a lack of sophistication, says Caldwell. It’s about scale. “Sure, you’ve got people selling forty to fifty million dollar homes but Santa Barbara has a traditional sensibility,” he says. People love Western art and Santa Barbara landscapes. The one thing that might turn that around is the L.A. people coming here who want more modern and contemporary art. But they may want more landscapes for their house here as well,” he says. Montecito and its residents are fiercely protective of their collective identity. The fact that such a small community has its own planning commission, board of architectural review, water district, school district, and homeowners’ association speaks to their protective ways. So, it’s somewhat surprising that, so far at least, any tension between the old guard and the new remains subdued. Other than a few instances of overly aggressive parking decorum, things have remained relatively cool. Some locals are skeptical that the new wave of residents is in it for the long haul. Once a vaccine arrives, they say, and the patterns of life as we knew it flip back to normal, some suspect that a sizeable amount of the newcomers will tire of Santa Barbara’s slower, more provincial way of life and head back to the cities. Ludwick of the Coast Village Association worries about the through-line and integrity of the community. If prices continue to soar, it will be hard for boutique retailers to maintain their presence in the community and compete against national retailers. Ludwick then makes the somewhat byzantine analogy of newcomers unwittingly being potted plants being planted within yet another pot. The point is simple though: put down your roots – your real roots – and where better to do that than in the rich and fertile soil of the Santa Ynez Mountains. Peter Kiefer is a Los Angeles-based writer and journalist. He most recently worked as the real estate & city editor for The Hollywood Reporter. During his career, he has worked as a staff writer for The New York Sun in Manhattan and as a reporter in the Rome Bureau of The New York Times. He lives in Venice Beach.

UC Regents Economic Forecast Project SBAOR Real Estate and Economic Review and Forecast Freedom to Choose Foundation Martin Luther Kind Jr. Committee of Santa Barbara Santa Barbara Athletic Roundtable Goleta Valley Cottage Hospital SB P.A.L. Friends of Santa Barbara Library Pierre Claeyssen’s Veterans Foundation Cops n’ Kids Legal Aid Foundation San Marcos Royal La Patera Elementary PSTA Domestic Violence Solutions 5K Run/Walk for Love Youth Interactive Special Olympics of Santa Barbara County Santa Barbara High School Aquatices Marymount of Santa Barbara Santa Barbara Beautiful Our Lady of Mount Carmel Bishop Garcia Diego High School Santa Barbara City College Athletic Dept. Storyteller Children’s Center Santa Barbara Rescue Mission Teachers Fund American Cancer Society “Santa Barbara Relay for Life” Teddy Bear Cancer Foundation Metal Wellness Center of Santa Barbara San Marcos High School Softball

Monte Vista PTSA Roosevelt Elementary School Rose Run Dos Pueblos Athletics Booster Club Montecito Family YMCA SB Youth Football League Santa Barbara Paralegal Association Coastal Housing Partnership Homebuyers Fair Cold Springs School Foundation Direct Relief International - 2014 Wine Auction Just Communities Isla Vista Elementary Scholarship Foundation Santa Barbara Goleta Valley Girls Softball San Marcos Royal Pride Foundation Charitable Foundation Washington School Foundation Rotary of Santa Barbara Santa Barbara County Trails Council Kellogg Elementary School Old Spanish Days Inc. Kiwanis Foundations of Santa Barbara Santa Barbara LaCrosse Association Santa Barbara Botanic Gardens Alzheimers Association Junior League of Santa Barbara AHA Special Olympics of Santa Barbara Salvation Army - Santa Barbara Santa Barbara Foundation - COVID-19 Joint Response Hope School PTSA

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All information provided is deemed reliable, but has not been verified and we do not guarantee it. We recommend that buyers make their own inquiries.

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D E L A D I E R A L M E I DA

RALPH FLECK

G R E G O RY KO N D O S

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Caldwell Snyder Gallery was established in San Francisco in 1983, and has been a long standing member of the Art Dealers Association. The gallery specializes in the exhibition and sale of contemporary art and 20th-century American, Latin and European

MONTECITO 1266 COAST VILLAGE ROAD 805.770.7170

paintings, drawings, sculpture, and limited edition prints. Directors, Oliver Caldwell and Susan Snyder, have curated a diverse program of over 50 internationally acclaimed artists and developed a long list of meaningful and inspired collections, exhibitions and lectures.

SAN FRANCISCO 341 SUTTER STREET 415.392.2299

Exhibiting at international art fairs in San Francisco, Los Angeles, New York, Cologne, Hong Kong, Tokyo and beyond, Caldwell Snyder is proud to become part of the Montecito / Santa Barbara

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art community.

7 0 7. 2 0 0 . 5 0 5 0 The gallery hours are Monday through Saturday from 10 to 5, and Sunday from 11 to 5.

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Real Estate (Continued from page 36 36)

by Jon McCuskey

the sea, mountains, lacy oak trees, or lush lawns. Here, indoor/outdoor integration is seamless. A guesthouse is ideal for extended visitors and the pool/cabana call for fun. A detached office lets you keep work at bay and is perfect for creative endeavors. With ample spaces for formal entertaining as well as casual everyday moments, Villa Ravello is a luxury estate offering the 10,500+/-square-foot main home, as well as 1900+/- square feet for your use in the other structures, all on a prime, 2.62-acre lot, providing privacy and room to move about in a prestigious location.

1630 East Mountain Drive – $22,000,000

eighboring the world-renowned San Ysidro Ranch, this contemporary masterpiece parallels the privacy, sensational grounds, gorgeous views, and timeless romance for which the high-end resort is known. Designed with attention to detail and incredible scale, and showcasing enchanting ocean, island, and mountain views from nearly every room, this estate helps to define the perception of elevated living in Montecito. With nearly 10,000 square feet on 3 acres, the open concept 4-bedroom, 4 full, 2-and-a-half bathroom main residence and 1-bedroom, 1-bathroom guesthouse are an entertainer’s dream. Features include a large media room with built-in bar, gym, office, wine cellar, and a chef’s kitchen replete with top of the line appliances, a spacious center island and opening to an expansive terrace with fireplace and built-in barbecue area. The grounds are devoted to indoor-outdoor living, inclusive of meandering pathways framed by manicured gardens, succulent arrangements, bocce court, pool, spa, sitting areas, tall hedges, and fruit trees. The property is complete with a whole house generator, solar array with house functionality integration and pool heating functions, advanced air filtration & water purification systems with 10,000 gallons of onsite storage, a private well and advanced fire suppression systems.

54 Montecito JOURNAL

Mortgage Happenings

ne phrase has summed up the mortgage world since March: “record low rates.” Lenders have seen their pipelines swell to levels never seen before and things do not seem to be slowing down. Rates for conforming loans have been held low by the government’s intervention in purchasing mortgage-backed securities to aid in market liquidity. Meanwhile in the Jumbo markets, rates have ticked down and offerings below 3% are widespread. With tremendous growth, also comes significant growing pains. Most mortgage companies have hired on additional staff to help, but there is still a shortage of qualified workers. This has led to slower than normal turnaround times for refinances, but purchase loans are still prioritized. One area that has seen added stress for this change in demand is the appraisal world. Costs for appraisals have increased due to demand and appraiser workload is at record levels. This is one item to be cognizant of if you are going through the mortgage process. The Federal Reserve has indicated they have no intention of raising their short-term lending rates, and mortgage rates have remained low and stable, if not decreasing for the last few months. If you are looking to purchase a home, the timing is great for affordability and savings. If you are in the refinance market, take advantage now but be patient with your lender. As tempting as another refinance may seem with dropping rates, be sure to compare costs and the time to recover those costs. Many lenders online will advertise no lender fee, but then charge discount points for a low rate. At the end of the day a fee is a fee, so caveat emptor. Put simply, the consumer is in the best position they could ever ask for right now and a phone call with a mortgage lender is always your best bet. 2021 will most likely be another year of growth here in Santa Barbara County, as demand has not slowed to own a piece of our paradise. Loan Consultant NMLS# 357850 (805) 456-9120 Jon.McCuskey@nafinc.com

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WINTER 2020

GARY GOLDBERG

SENSATIONAL PROPERTIES

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INTERESTED IN SELLING? Over $800 MILLION Sold Since 2000 Top 5 in Total Number of Closed Escrows since 2000* Top 10 in Total Dollar Volume Sold since 2000*

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Knowledge and integrity are everthing. Let me help make your real estate dreams a reality.

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