Category Archives: Montecito and Santa Barbara Local News

What’s happening in Montecito, Santa Barbara, Carpinteria & Hope Ranch and other real estate related news.

Sycamore Valley Ranch Listing Generating A Media Frenzy

 

The Sycamore Valley Ranch Train Station

The Sycamore Valley Ranch Train Station

  1. Wall Street Journal: Michael Jackson’s Onetime Neverland Lists for $100 Million
  2. AP: NEVERLAND, FORMER HOME OF MICHAEL JACKSON, ON SALE FOR $100M
  3. BBC: Michael Jackson’s Neverland ranch up for sale
  4. Bloomberg: Michael Jackson’s Neverland Ranch on the Market for $100 Million
  5. Forbes: Michael Jackson’s Neverland Ranch Is Officially For Sale For A Cool $100 Million
  6. NBC News: Michael Jackson Estate Neverland Up for Sale for $100 Million
  7. Rolling Stone: Michael Jackson’s Neverland Ranch Lists for $100 Million
  8. CNBC: Neverland, former home of Michael Jackson, on sale for $100M
  9. The Washington Post: Michael Jackson’s Neverland Ranch put up for sale
  10. Today: Michael Jackson’s Neverland ranch goes up for sale for $100 million
  11. Business Insider: Michael Jackson’s restored Neverland Ranch has hit the market for $100
    million
  12. Daily Mail: Michael Jackson’s Neverland Ranch is up for sale for an astonishing $100m
  13. Artnet: Sotheby’s Puts $100 Million Price Tag On Michael Jackson’s Neverland Ranch
  14. Huffington Post UK: Michael Jackson’s Neverland Ranch Goes Up For Sale, Six Years After Singer’s Death
  15. AOL UK: Jackson’s Neverland on sale for ÂŁ65m
  16. London Evening Standard: Michael Jackson’s Neverland Ranch on the market for ÂŁ62m
  17. International Business Times: Neverland Ranch Cost And Photos 2015: Michael Jackson’s Former Home Lists For $100M
  18. Santa Barbara Independent: Neverland Ranch Going on the Market for $100 Million
  19. The Real Deal: Michael Jackson’s Neverland ranch hits market for $100M
  20. The Week: Michael Jackson’s Neverland Ranch could be yours for the low, low price of $100 million
  21. The Week UK: Michael Jackson’s Neverland ranch goes on sale for $100m
  22. Wealth-X: Michael Jackson’s Estate Up For Sale For US $100 Million
  23. Vogue: Michael Jackson’s Neverland Ranch Is Up for Sale
  24. CNN: Michael Jackson’s Neverland ranch on the market
  25. ABC News / Good Morning America: Michael Jackson’s ‘Neverland’ Hits Market With New Name
  26. ABC News: Inside Look at Michael Jackson’s ‘Neverland Ranch’
  27. Fox News: Michael Jackson’s Neverland Ranch for sale for $100 million
  28. Entertainment Weekly: Michael Jackson’s Neverland Ranch: By the numbers
  29. Huffington Post: Michael Jackson’s Neverland Ranch Hits The Market For $100 Million
  30. Extra: How Much Will It Cost You to Buy Michael Jackson’s Neverland Ranch?
  31. San Francisco Chronicle: Michael Jackson’s Neverland Ranch on sale for $100 million
  32. Mansion Global: Nine Figures and Counting

 

 

 

 

 

EXCELLENT INVESTMENT OPPORTUNITY AT A NEW PRICE

MONTECITO | Traditional-Style | 4BD/4BA + Vacant Lot | $4,000,000

MONTECITO | Traditional-Style | 4BD/4BA + Vacant Lot | $4,000,000

PRICE REDUCTION!  NEWLY OFFERED AT $4,000,000
BIRNAM WOOD HOME & ADJACENT LOT 

MONTECITO, CALIFORNIA: A rare opportunity to renovate a home within the grounds of Birnam Wood Golf Club and build a second home or guest house on an adjacent lot.  This traditional-style 4-bd/4-ba home was built in 1982 by Ketzel & Goodman and set on an 0.86± acre parcel. Featuring a wonderful floor plan with high ceilings and filtered ocean views through the trees bordering the par 3 12th fairway.  Also included is an adjacent 0.91± acre vacant lot with its own Montecito water meter.  The grounds offer an opportunity to build a second home or add a pool and/or large guest house to the existing home.

Call Harry Kolb today for more details 1.805.452.2500

 

 

 

 

2000 to 2014 – Real Estate Market Update for Santa Barbara and Montecito

AN IMPROVING ESTATE MARKET IN MONTECITO & SANTA BARBARA, CALIFORNIA

Estate Market Over $4M Summary 2000-2014.pub

Click here to download the latest Little Woods Newsletter by Harry Kolb.

The number of estate homes sold in the Santa Barbara area, those sold for over $4 million, was up nicely last year – increasing 33% over the number sold in 2013. Comparing the eventual sales price to the last asking price was also up to an average of 93% and up to an average of 82% of the first asking price – each an indication of an improving market. But the average number of days on the market was longer, probably due to the fact that inventory of available homes has been reduced and that lead to a number of homes selling that had been on the market for a considerable time as buyers were suffering from a lack of homes to choose from.

SB Area Sales Between $5 - $10m 2000-2014.pub

Although the number of homes sold for over $4 million last year was up so considerably from the previous year, the actual sales experience for most of the estate homes on the market has been less than encouraging because a large percentage of these homes sold were sold below $5 million. As is usually the case, our improving market begins in the lower price ranges as it did a few years ago in the below $1 million price range. That improving market has now migrated up to include the $4 million market, but hasn’t been felt yet in the mid or upper ranges of the estate market. This becomes evident in the chart showing that homes sold for between $5 – $10 million was up from last year but still below the number sold in 2012, and those sold for between $10 – $20 million were down from each of the two previous years. It became even worse in the graph of homes sold for over $20 million because last year the most expensive home sold in our area was sold at $20 million, where both buyer and seller were represented by Sotheby’s, and no local homes sold for more.

SB Area Sales Between $10 - $20 Million 2000-2014.pub

The market for significant homes valued over $4 million is considerably different than the market for the average American home we all read about in the press. The national press and even our local papers take their statics from readily available statistics from our local Board of Realtors where the median sales price for all homes sold in our area last year was $990,000 and the median time on the market was 95 days. Obviously a different market than that of estate properties. And when major media report that the average price of homes sold last year was up 18%, as it appears in our local MLS statistics, the press fails to remind readers that much of that increase in average sales prices is due to fewer and fewer lower priced homes being available in the inventory as buyers take advantage of foreclosures and distressed properties as they consume the inventory. Measuring true appreciation in a market requires comparing the value of the same home over a period of time. Of the 76 homes sold for over $4 million in our area last year, four sold for more than they did within the past five years, one sold for less, and five sold for the same. These are all considered same for same without including homes that may have been improved in any manner. So from a value standpoint, we appear to have appreciated ourselves back to where we were in 2008 before the market reversal.

SB Area Sales Over $20m 2000-2014.pub

Where the market for the average American home is closely associated with long-term interest rates, our local market for estate homes is much more associated with consumer confidence. To show this obvious relationship, I’ve included a graph plotting consumer confidence for each of the past 15 years next to the sale of local estate properties for that same year showing this very direct relationship. It’s comforting to see that the CCI now is higher than it’s been for the past six years.

Estate Market Over $4M With Consumer Confidence 2000-2014.pub

Based on the generally improving estate sales over the past five years, the improving relation of final sales prices to the last asking price and what is a dramatically improved Consumer Confidence Index, it seems reasonable to anticipate an improving estate market this coming year. This coupled with what appears to be a pent-up demand from an increasing pool of buyers looking for property but not being able to find what they’re looking for from our current limited inventory, the prospects for the coming year look promising.

 

Making Headlines Around the World: Rancho San Carlos Estate in Montecito, California

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The Rancho San Carlos Estate listed by Harry Kolb & Suzanne Perkins of Sotheby’s International Realty in Montecito is offered at $125 Million. Photography by Jim Bartsch

A Large Montecito Estate Lists For $125 Million Wall Street Journal

“It’s like a small city’: California super-mansion with 10 cottages and an English-style

pub on its grounds goes on the market for an eye-watering $125 Million – The Daily Mail

Sotheby’s International Realty Announces Exclusive $125 Million Listing of Historic

Santa Barbara Estate – PR Newswire

Montecito Ranch on 238 Acres Lists For $125 MillionForbes

Equestrian estate in Montecito asking $125 millionLA Times Hot Property

“http://www.latimes.com/business/realestate/hot-property/la-fi-hotprop-montecito-estate-20140905-story.html?track=rss” target=”_blank”>Equestrian estate in Montecito asking $125 million – LA Times Hot Property

California estate hits the market for $125M – The Real Deal

California estate with equestrian facilities on market for $US125 million – Horsetalk.co.nz

Montecito Ranch On 238 Acres Lists For $125 Million – Forbes

HOT PROPERTY: Equestrian estate in Montecito asking $125 million – LA Times

HOUSE OF THE DAY: A 237-Acre California Estate With A Secret Underground Pub Is On The Market For $125 Million  – Business Insider

Gorgeous 237-Acre Estate Just Casually Listed for $125M – Curbed National

Massive, Lavish Montecito Estate With Secret Pub Asks $125MM – Curbed LA

9/5/14 – HOUSE OF THE DAY: A 237-Acre California Estate With A Secret Underground Pub Is On The Market For $125 Million – Houston Chronicle

HOUSE OF THE DAY: A 237-Acre California Estate With A Secret Underground Pub Is On The Market For $125 Million – Seattle Pi

 

Click here for more information on the Rancho San Carlos Estate

TheRanchoSanCarlos.com

www.harrykolb.com

 

 

Our Exclusive Listing Rancho San Carlos in Montecito, CA for $125 Million

Rancho San Carlos Estate in Montecito, CA just listed for $125 Million

The Rancho San Carlos Estate listed by Harry Kolb & Suzanne Perkins of Sotheby’s International Realty in Montecito is offered at $125 Million. Photography by Jim Bartsch

The magnificent Rancho San Carlos, a 237 acre estate property that for nearly 100 years has been under the ownership of one family. A once-in-a-lifetime opportunity to acquire a unique property of unprecedented grand scale, exceptional architecture, and prestigious historical significance. The sprawling hilltop Monterey Colonial manor was designed by noted architect Reginald Johnson in 1931 with an approx. 29,483 sq. ft. exquisite main residence comprised of over thirty rooms. Infused with an atmosphere of sophistication and refinement, the grand home is astutely sited on two natural terraces, and by planning the formal living rooms around a central courtyard and placing the Master and family bedroom wings on the upper terrace, he effectively created a spatial separation that afforded privacy, calm and exceptional views.  Additional features include 10 residential cottages, an office, producing orchards, and extensive equestrian facilities.

Click here for more information on the Rancho San Carlos Estate

TheRanchoSanCarlos.com

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Luxury Real Estate Headlines: 5th Week of July

 

The Santa Barbara Courthouse captured by Eric Peterson

The Santa Barbara Courthouse captured by Eric Peterson

Highlights from this week’s top news stories on luxury real estate, home, art, collectibles, Sotheby’s auction house, jets & yachts, sports & luxury cars, and lifestyle & travel news from around the world.

Zillow to buy Trulia, creating real estate website behemothLATimes.com

Housing labor shortage turning more severe, boosting home prices LATimes.com

Ron Howard gets $27.5-million asking price for Connecticut compoundLATimes.com

5 Reasons the Santa Barbarbara South Coast Wins at Summersantabarbaraca.com/blog

Santa Barbara was voted #6 in The 10 Best Small Cities in America CNTraveler.com

 

 

 

Sotheby’s April Significant Real Estate Sales

This two-parcel beachfront property in Montecito, California recently sold for $19,870,000.

This two-parcel beachfront property in Montecito, California recently sold for $19,870,000.

I am pleased to provide you with the April 2014 issue of Sotheby’s Significant Sales.

The April issue features top real estate sales from various locations, including three exclusive beachfront estates sold in our very own Montecito, California, as well as the magnificent waterfront estate La Presqu’ile located in New York, the Morning View mansion in the heart of Malibu, California, and the Oxshott Way Estate, a brand new luxury home located in the United Kingdom.

SOTHEBY’S INTERNATIONAL REALTY–MONTECITO–COAST VILLAGE ROAD BROKERAGE
| $19,870,000 | CALIFORNIA, USA
This two-parcel beachfront property has approximately 300 feet of
“on the sand” frontage for a total of approximately 3.55 level
acres. There is an existing three-bedroom home on the entry
parcel. As well, there is a building site for an approximately
12,000-square foot estate, partially constructed.

sotheby's_april-14-significant-sale-new-york-$17m

DANIEL GALE SOTHEBY’S INTERNATIONAL REALTY
| $17,000,000 | NEW YORK, USA

Magnificent waterfront living defines La Presqu’ile – a rare
gem along the seashore. Nestled on just under 20 acres
at the tip of the peninsula connecting Manhasset Bay and the
Long Island Sound, La Presqu’ile commands prime views of the
Manhattan skyline, water, open sky and natural landscape with
1,600 feet of shoreline. An enchanting oasis, the lush grounds
include specimen and ornamental trees, shrubs and estate gardens.
In addition to the main residence are two cottages that are
approached by a regal stone entry and four car garage with two
apartments. Situated on the property are tennis courts, swimming
pool, boat house and dock.

sotheby's_april-14-significant-sale-malibu-california-$15m

SOTHEBY’S INTERNATIONAL REALTY–BRENTWOOD BROKERAGE
| $15,000,000 | CALIFORNIA, USA

The Morning View mansion is in the heart of Malibu. This
palatial masterpiece is set on approximately 5.33 private
ocean view acres and has manicured gardens, reflective pools,
fountains, a caretaker’s residence, horse stables with riding area,
tennis court, large infinity edged pool with guest/pool house
and fruit orchard.

sotheby's_april-14-significant-sale-united-kingdom-$9,246,048m

UNITED KINGDOM SOTHEBY’S INTERNATIONAL REALTY
| €6,807,246 (EUR) $9,246,048 (USD) | UNITED KINGDOM

This is a brand new luxury family home currently under construction
on the highly sought after Oxshott Way Estate situated
on a magnificent plot just under 0.9 acres that benefits from
an elevated and commanding position. This 9,000 square foot
home has a master suite on the first floor that spans the entire
width of the property, allowing beautiful views of the landscaped
gardens. High and elegant vaulted ceilings in both the master bedroom
and bathroom are key features and allow an abundance of
natural light to flow through this generously appointed suite.

sotheby's_april-14-significant-sale-montecito-california-$8.65m

SOTHEBY’S INTERNATIONAL REALTY–SANTA BARBARA BROKERAGE
| $8,650,000 | CALIFORNIA, USA

This exotic oceanfront home has Moorish/Mediterraneanstyle
architecture and is in a one-of-a-kind location. With six
bedrooms and four baths, it is located in a private gated
community. The property boasts remarkable and expansive
ocean, island and coastline views and features a community
pool, tennis court and private beach access.

sotheby's_april-14-significant-sale-montecito-california-$7.5m

SOTHEBY’S INTERNATIONAL REALTY–MONTECITO–UPPER VILLAGE BROKERAGE
| $7,500,000 | CALIFORNIA, USA

This rare California beachfront property includes approximately six
acres and a 1950’s-era beach cottage in the prestigious, gated Sand
Point community near world renowned Montecito, California. Resting
between the Carpinteria Salt Marsh Reserve and the majestic Pacific
Ocean, and providing approximately 200 feet of ocean frontage, this
beachfront property is available for the first time in more than
50 years.