Santa Barbara Independent Real Estate 5/4/23

3BD/4BA; ±29 acres • $20,500,000

Yolanda Van Wingerden, 805.570.4965

LIC# 01308141

TAKE A TOUR TODAY

at bhhscalifornia.com

Kevin Schmidtchen, 805.689.6877

LIC# 01316975

6BD/9BA • $14,990,000

Nancy Kogevinas, 805.450.6233

LIC# 01209514

3BD/3BA • $1,995,000

The Bartron Group, 805.563.4054 LIC# 01005021

Yolanda Van Wingerden, 805.570.4965

LIC# 01308141

1BD/1BA • $850,000

Rachael Douglas, 805.318.0900

LIC# 02024147

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.

© 2023Berkshire 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

TAKE A TOUR TODAY at bhhscalifornia.com

© 2023 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 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.

ESTELLE RANCH, SANTA YNEZ

±393 acres (combined) • $25,250,000

Kerry Mormann / Joe Ramos, 805.682.3242

LIC# 00598625 / 02040488

0000 LOS ANGELES AVE, SOMIS ±51.4 acres • $9,000,000 Cristal Clarke, 805.886.9378

LIC# 00968247

1800 W HIGHWAY 246, BUELLTON

±72 acres • $6,900,000 Ramos / Warm / Mormann, 805.722.7095

3570 WOODSTOCK RD, SANTA YNEZ 6BD/5½BA; ±20.13 acres • $6,150,000

Laura Drammer, 805.448.7500

LIC# 01209580

02192518 / 00598625

TAKE A TOUR TODAY at bhhscalifornia.com

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.

© 2023 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.

LLC and

SANTA BARBARA ASSOCIATION OF REALTORS

A Look at First Quarter 2023’s Unique Local Real Estate Market

Real estate housing statistics are making national headlines again with the National Association of Realtors® (NAR) reporting home prices are down slightly and the number of home sales are down significantly across the nation. We like to think we’re unique here in Santa Barbara. Indeed, our South County real estate market differs from the U.S. in some ways and can also follow the national trends. Here’s a recap and analysis of the real estate market’s first quarter 2023 for the areas between Goleta and Carpinteria.

How many homes are selling? NAR reports existing home sales declined a whopping 22 percent nationwide from a year ago for condos and houses combined.

Santa Barbara has that beat. Sales are down almost 40 percent from the 12 months prior.

Keep in mind that from mid-2020 to mid-2022 (the pandemic surge), sales here were very robust and among the highest we’d seen in a decade and a half, so some of the difference between this year and last is because those pandemic years were a frenzy for home sales. In the first three months of this year, only 220 homes closed escrow (half of what we saw in the first quarter of 2021); however, that is partially due to January and February 2023 being particularly sluggish for sales. March was busier with 89 sales, and April is keeping a similar pace, so we expect our number of home sales to continue to increase. Although higher prices and interest rates are deterring some buyers, one important factor in this low number of sales is that there just isn’t much to buy. The number of homes for sale, called “inventory,” is still very low.

Are properties still selling quickly? In 2021, an amazing 97 percent of listed houses sold (smashing the record of 88 percent set the year before), and in 2022, 93 percent of houses that came on the market closed escrow. The months-of-inventory (MOI) figure you see in the chart is a calculation showing how long it would take for all the listed homes to sell at the current rate of sales, if no new homes came on the market. Right now, that is 1.2 months for all properties. It’s just 15 days (0.5 months) for condos! An MOI under three months is considered a strong advantage to sellers (a sellers’ market). Still, it’s a little easier for buyers now because last year at this time, houses were selling even faster: There were only 18 days of inventory across the board and just three days for condos! If you were hunting for a condo last spring, within three days, all the condos on the market would be gobbled up by new buyers. Now it’s 15 days. Slightly

Santa Barbara South Coast 2023 MLS Market Activity

easier, but still tough, for condo buyers and still very propitious for condo sellers. Nationally, there are 2.9 months of inventory of houses and condos, up slightly from the national average a year ago.

You’ll also see in the chart that there were just 12 condos for sale in all of the South Coast Goleta to Carpinteria in all price ranges at the end of March. Condos typically reflect the entry-level market, and that is where a high percentage of active buyers are now. Houses and condos that are priced right are still getting multiple offers, especially in price ranges up to about $1.5 million.

Homes still have multiple bids. Are prices really dropping? Nationwide home prices declined about one percent from this time one year ago. Locally, the median price for houses sold in the first quarter of last year was $2,251,000. Now we’re almost $200,000 less than that $2,055,000 which is an 8.7 percent drop. However, the median price for just March this year, $2,255,000, is almost the same as last year, when the market was near its peak. (April 2022 was the top of the market for houses, showing a median sales price for that month of $2.5 million.) It’s super important to remember that in small markets like ours, the median price fluctuates more on a monthly basis because a few low or high sales can pull this number one way or the other. As the year progresses and there is more data, this balances out.

For condos, it’s a whole different ride. Take a look at the median sold price of condos in the chart. At $992,500 year to date, that’s a record high and up 10 percent from last year’s median at this time. Condo prices increased steadily all year last year and are up 2.8

percent from December. This is the more affordable end of the market, and such low inventory is putting upward pressure on prices. At the time of this writing in late April, we’re seeing more inventory come on the market. For example, there are now 20 condos for sale in the south county, and 14 of those are less than $1.5 million.

What’s next? Low interest rates in 2021 and part of 2022 prompted many homeowners to refinance into a mortgage with an interest rate of around 3 percent. The rate is double that now, adding approximately $1,600/ month to a $900,000 mortgage. People who must sell (a bigger house, smaller house, different location, different school, death in the family, etc.) are still going to sell no matter what the mortgage rates are doing. The folks who are moving just for a change, but don’t have to, are more hesitant if they’re sitting with a 2.99 percent rate on their current home. It is quite possible that this group of hesitant sellers could keep inventory low here for at least a few more years, or until interest rates drop.

The chief economist at NAR, Lawrence Yun, predicted 2023 would see the number of sales decline by 7 percent overall with home prices claiming only a one percent rise across the nation. Locally, our real estate market will probably continue to be slower than the national average, but if we had to make a wager, we’d bet prices at the end of 2023 land pretty darn close to where they were last year, just like the national prediction. However, this can vary even at the neighborhood level. To find out more about a particular market segment, reach out to your Realtor. And come back to this column next quarter to see how the spring and early summer market took shape.

Data for this article was compiled for January through March 2023 by the Santa Barbara Multiple Listing Service and analyzed by members of the S.B. Assoc. of Realtors® Statistical Review Committee. Writer Kalia Rork is a Realtor with Berkshire Hathaway HomeServices California Properties, who has been a contributor to this column for 14 years and who is celebrating 22 years in real estate. Contact Kalia at (805) 689-0614, kalia@liveinsb.com, or liveinsb.com. DRE lic# 01313668. Broker lic# 1317331.

269 OAK ROAD, MONTECITO CA 93108

4 BEDS | 3 BATHS | OFFERED AT $3,395,000 | CURRENTLY THE LOWEST PRICED HOME IN MONTECITO UNION SCHOOL DISTRICT

Exceptional and rare opportunity in Montecito! Prime location just a short jaunt to the Lower Village's world-class shops and dining. This charming 1930s home is situated on a deep 8,700+ sq. ft. lot offering tremendous versatility and upside potential. The 2 bedroom main house is outfitted with original wood flooring and generous living spaces. A flexible separate dwelling with plans and permits for an ADU conversion provides a myriad of possibilities for this incredible property. Within the highly coveted Montecito Union School District and just a mile from Butterfly Beach, The Biltmore, and The Rosewood Miramar Resort, this home provides access to all the best of Montecito!

DAVID M. KIM

296-0662 | david@villagesite.com dkgroupsb.com | DRE 01813897

This classic Goleta cottage is not to be missed! Sweet purple wisteria frames the garage as you stroll down the brick path that leads to the front door. This warm and inviting home features original wood floors, an updated kitchen, 3 spacious and bright bedrooms, and 2 full bathrooms. The backyard is the perfect place to entertain! Barbeque on the back patio and dine under the stars surrounded by mature landscaping with views of the Goleta foothills as your backdrop. Design your perfect garden oasis around the picturesque and fun 2-story playhouse. With the oversized backyard the possibilities are endless - plant a vegetable garden, create a tropical paradise, or fill in the space with lush green grass. Enjoy making this house your home! Conveniently located close to parks, shopping, Goleta Valley Junior High, La Patera Elementary, Stow House and Lake Los Carneros.

KIM CRAWFORD | ANGEL SPEIER 805.886.8132 | 805.316.4336

csgroup@villagesite.com | csgroupsb.com

DRE 01440068/02037359

HOME IS OUR FAVORITE DESTINATION

United Boys & Girls Clubs Holds Rally4Kids and Gala

On April 22, United Boys & Girls Clubs of S.B. County (UBGC) held its very fun annual Rally4Kids with 65 cars followed by a splendid Riviera Nights Gala with 325 guests. The events grossed $382,000, with proceeds funding the invaluable after-school programming UBGC provides to predominantly low-income kids throughout S.B. County.

After a casual party the night before for Rally drivers and navigators, the 65 teams launched from Deckers Brands in Goleta Saturday morning on a 150-mile scenic course. Challenges at checkpoints included feeding ostriches at Ostrichland U.S.A. in Solvang, using riddles in Los Olivos to find items to photograph themselves with, and doing a putting event at La Purisima Golf Course in Lompoc. At the finish at the downtown S.B. UBGC club, participants played one-minute dodgeball games, first against young kids, then against UCSB basketball team members. Trivia questions about sites along the route added challenges that went into the scoring.

Rally Master John Dembowski, who designed and then redesigned the course a few times because of damage to roads from the winter rains, shared how he enjoys “rallying” the local car enthusiast community in support of UBGC, which provides, according to Dembowski, a home away from home, where kids are nourished, supported, and encouraged. Monte Wilson related how he and his wife, Maria Wilson, who together co-chair the event each year, love to support UBGC, which helps level the playing field for these great kids by providing mentoring, tools, and resources.

The gala featured an extended cocktail reception on the oceanside lawn at the Hilton Beachfront Resort, where a red carpet greeted guests and impressive rally cars were on display. Dinner was in the Rotunda, with Andrew Firestone emceeing and sharing his passionate support for UBGC. Awards were presented to Rally winners: first place went to Cobus Malan and Mark Huston; second place to Robb Francis and Faith Strader; and third place to Conner Rehage and Kurt

Koenig. Firestone led the live auction and ask, then guests danced away.

In an interview, CEO Michael Baker shared a couple of relatively new initiatives at UBGC that are providing a huge benefit to the kids. Under the Zero Hunger Food Program, UBGC is now preparing a hot meal every weekday for kids at all its club locations.

Pre-COVID, the S.B. Unified School District provided food to club kids through its Mobile Café, but with that program gone, UBGC now prepares the food itself in its commercial-grade kitchen at its Westside Club and delivers the food to its other club locations downtown S.B., Lompoc, Goleta, and Carpinteria which all have smaller kitchens that allow reheating.

For many of the club kids, according to Baker, this is their dinner and is absolutely essential for them. Food insecurity is a real problem, Baker laments, and UBGC is doing its part to combat it. Baker hopes to raise enough funds to upgrade and expand other club kitchens so the program can serve not just club kids, but others in need in the community as well.

Another relatively new initiative is its College and Career Bound Program, whose director Baker likened to a roaming guidance counselor, ensuring that each club kid is on track to graduate and has a plan for the future: trade school, the military, college, or a job.

Under the program, community members have come in to talk about their careers, and a job shadowing component has enabled kids to see different jobs firsthand. UBGC is currently seeking community members to come in to speak or to have a club kid shadow them at work. People in all types of jobs are sought to provide kids with wide exposure to career paths. “I want every single job represented,” Baker shared. It can be an invaluable experience for these kids, especially those who have been conditioned to think narrowly about the jobs they could hold, Baker added. Having the opportunity to ask someone how they got their job and learning what education is required for a job can have a big impact. Anyone interested in participating can contact UBGC through its website.

For coverage of other events, go to independent.com/society. Send invites to gail@independent.com.

NEW LISTING | MONTECITO

SAN LUIS OBISPO

Nothing compares.

LOMPOC

Montecito Single-Level Home

4BD | 4BA | $6,850,000

549HodgesLn.com

SANDY STAHL 805.689.1602

JAKE LONGSTRETH 805.705.4120

Chic Contemporary, Ocean Views

4BD | 4BA/1PBA | $5,848,900

4340PrefumoCanyon.com

PATTY CASTILLO 805.570.6593

Avo Vista Avocado Ranch

102+/- ACRES | $3,550,000

2761CebadaCanyon.com

PATTY MURPHY 805.680.8571

Coastal Ranch At Refugio Canyon

2111Refugio.com

805.886.6135 ROBERT HECKES 805.637.0047

SAN ANTONIO CREEK

Office Condominium Santa Barbara

DOWNTOWN $995,000

1215DeLaVina.com NEW LISTING | EAST BEACH

DAVID PRINGLE 805.350.2140

NEW LISTING | MONTECITO

One Bedroom Beachside Condo

1BD | 1BA | $990,000

429PorLaMarCir.com

KATINKA GOERTZ 805.708.9616

1280 Via Regina “Lot 3”

3+/- ACRES | $950,000

1280ViaRegina.com

DUSTY BAKER GROUP 805.220.4210

Top of the World

13+/- ACRES | $750,000

ToroCanyonRd.com

RICHARD CHEETHAM 805.901.7921

DAVID PRINGLE 805.350.2140

4960 Cervato Way | Santa Barbara

5 bedrooms | 2.5 bathrooms | +/- 2499 sq ft

Offered at $2,150,000

This Racquet Club residence is a must-see for those seeking the perfect home. With a warm and inviting atmosphere, stylish open-concept design, and picturesque views from every room, it offers luxurious living. The turnkey home boasts white oak engineered floors, an updated kitchen, custom fireplace, lowerlevel primary suite, and modern amenities such as air conditioning and owned solar. The lush backyard includes terraced gardens, avocado & lemon trees, and multiple entertaining areas. Exclusive access to the Racquet Club community amenities, including a pool, clubhouse, tennis courts, open space, and playground, completes the package. This home is a rare gem that offers luxury, comfort, and convenience. Don’t miss your chance to live the life you’ve always dreamed of, schedule a tour today!

THE MARKET HAS

We have helped hundreds of sellers get top dollar for their homes. For a free home valuation or listing consultation, give us a call today. Our experience & dedication to our clients has placed us in the top .5% of all Berkshire Hathaway agents worldwide with over $750,000,000 in sales.

RANDY GLICK

If you are considering selling your home, give us a call today and put Glick Real Estate Associates to work for you!

Mid-Century Modern with Ocean Views

Down the quaint and charming Abigail Lane you will find this adorable home with endless possibility. From the panoramic ocean views through the large picture window in the living space, to the private patio and fenced backyard perfect for outdoor living and entertaining- this is Santa Barbara living at its best. Featuring hardwood floors and a wrap around fireplace the light-filled living room will delight, and the extra flex space o of the kitchen o ers ample possibilities such as a dedicated o ce or a space for guests. Truly a hidden gem in the heart of Eucalyptus Hill.

• 2 bed + den; 2 bathrooms

• 1,488 sq. ft. on 0.34-acre

• Attached 2-car Garage

• Fireplace

• Lovely ocean views

• Excellent, tranquil Eucalyptus Hill location between Montecito & Santa Barbara

NEW LISTING

OPEN HOUSE | Saturday, May 6th from 11-1 pm | Sunday, May 7th from 12-3 pm

3375 Foothill Rd. Unit 233, Carpinteria, CA Exclusively Represented by Rachael Douglas

Indulge in the ultimate luxury living experience with this fully renovated 1 bedroom 1 bath condo at the Santa Barbara Polo & Racquet Club. The contemporary design of this elegant condo, complete with cathedral ceilings and wide-planked walnut floors, is the epitome of modern sophistication. Enjoy spectacular panoramic views of the ocean, island, mountain, and polo fields from the private balcony. The gourmet chef’s kitchen, equipped with custom cabinetry, top-of-the-line Bosch appliances, and a temperature-controlled wine fridge, is perfect for entertaining guests or simply indulging in your culinary passions. Unwind in the serene ambiance of this stunning condo, designed to cater to the most discerning tastes. This is the ultimate sanctuary to call your own. Offered at $850,000

RACHAEL DOUGLAS & ASSOCIATES

Ph. 805-318-0900

E. Rachael@DouglasAssociatesRE.com

Top 1% Chairman’s Circle

Montecito| Santa Barbara| Hope Ranch

DRE#02024147

www.rachaeldouglas.com

@rachaeledouglas

OPEN HOUSES

Goleta

30 Winchester Canyon Rd #3, 2BD, 2BA, Sun 1-3, $550,000, Berkshire Hathaway HomeServices California

Properties, Scott Walters 805724-7339, DRE#02051173

280 Moreton Bay Ln #4, 1BD, 1BA, Sat & Sun 12-3, $615,000, Village Properties, Curtis Swan II 805-607-9709, DRE#02049218

452 Linfield Pl Unit B, 2BD, 1BA, Sat & Sun 12-3, $730,000, Village Properties, Ewy Axelsson / Pranav Shastri 805-689-4124 /805-729-7993, DRE#0582003 / #02152010

419 Barling Terrace, 1BD, 2BA, Sun 1-4:30, $895,000, Sotheby’s International Realty, David Marchetti 805-637-4160, DRE#02007487

697 Rossmore Drive, 3BD, 2BA, Fri 10-1 & Sat & Sun 1-4, $1,049,000, Village Properties, Angelina Speier 805-316-4336, DRE#02037359

911 Via Campobello, 5BD, 3BA, Sat 12-3 & Sun 11-4, $2,475,000, Village Properties, Pranav Shastri / Claudia Schou / Jena Harris 805-729-7993 / 805-403-7053 / 805-331-3683, DRE#02152010 / #02134548 / #01930435

Hope Ranch

700 Via Hierba, 4BD, 3BA, Sat & Sun 12-4, $5,795,000, Market Ready Properties, Alden Fairbanks 805-455-7416, DRE#00952941

Santa Barbara

4025 State St #51, 2BD, 2BA, Sun 1-3, $399,000, Berkshire

Hathaway HomeServices

California Properties, Sara Guthrie 805-570-1211, DRE#01294545

340 Old Mill Rd Space 233, 2BD, 2BA, Sat 1-3, $470,000, Coldwell Banker Realty, Brisaly Balderas 805-335-4726, DRE#02128318

429 Por La Mar Circle, 1BD, 1BA, Sun 2-4, $990,000, Sotheby’s International Realty, Katinka Goertz 805-708-9616, DRE#01871645

Saturday 5/6 & Sunday 5/7

2030 State St #24, 2BD, 2BA, Sun 2-4, $1,150,000, Berkshire

Hathaway HomeServices

California Properties, Kelly Mahan Herrick 805-208-1451, DRE#01974836

1924 Bath St #D, 3BD, 2BA, Sun 12-4, $1,295,000, Berkshire

Hathaway HomeServices

California Properties, Dan Crawford 805-886-5764, DRE#01923245

4537 Carriage Hill Dr, 3BD, 3BA, Sun 1-4, $1,695,000, Berkshire Hathaway HomeServices California

Properties, Andi Ruhge 805.895.5862, DRE#01965484

1420 Las Positas Pl, 4BD, 2BA, Sun 1-3, $1,950,000, Berkshire Hathaway HomeServices California

Properties, Tyler Whelehan 805-471-0993, DRE#02197732

20 Abigail Ln, 2BD, 2BA, Sun 1-4, $1,995,000, Berkshire

Hathaway HomeServices

California Properties, Elisa Bartron Hills 805-242-2434, DRE#02050601

729 Fellowship Rd, 3BD, 2BA, Sat 1-4, $2,099,000, Berkshire Hathaway HomeServices

California Properties, Katya Sheets 805-708-2323, DRE#02061444

4960 Cervato Way, 5BD, 2.5BA, Sat & Sun 1-4, $2,150,000, Compass, Arielle Gulje 805-906-0194, DRE#01935620

1227 Calle Cerrito Alto, 4BD, 2BA, Sat & Sun 1-4, $2,495,000, Berkshire

Hathaway HomeServices

California Properties, Setfan Stojanovski / Allyson Edwards 805-570-0640 / 805-331-4277, DRE#02112629 / #02117216

1915 Garden Street, 3BD, 2BA, Sat 12-3 & Sun 1-3, $2,695,000, Epstein Partners/Keller Williams, Steve Epstein 805-698-9339, DRE#00994429

832 Cheltenham Rd, 4BD, 3BA, Sun 2-4, $2,790,000, Berkshire Hathaway HomeServices California Properties, Setfan Stojanovski 805-570-0640, DRE#02112629

219 Toyon Dr, 3BD, 3BA, Sat 1-3, $3,695,000, Berkshire Hathaway HomeServices

California Properties, Allie Baxter 805-565-4015, DRE#02072389

2101 Mountain Ave, 6BD, 5.5BA, Sun 1-3, $5,300,000, Village Properties, Alyssa Ann Jones 805-755-8735, DRE#02096482

504 East Valerio Street, 6BD, 5BA, Sun 1-4, $5,450,000, Sotheby’s International Realty, Joy Bean 805-895-1422, DRE#00925828

Montecito

43 Seaview Dr, 3BD, 2BA, Sat & Sun By Appt, $2,995,000, Berkshire Hathaway HomeServices California

Properties, Kit Peterson / Sue Irwin 805-689-5535 / 805705-6973, DRE#02008932 / #01413354

269 Oak Road, 4BD, 3BA, Sat & Sun 2-4, $3,395,000, Sotheby’s International Realty, Richard Cheetham / David Pringle 805-901-7921 / 805350-2140, DRE#02032454 / #02068477

Carpinteria

3950 Via Real #158, 2BD, 2BA, Sat & Sun 1-3, $620,000, Village Properties, Kim Byrnes 805-637-3075, DRE#01266258

3375 Foothill Rd #233, 1BD, 1BA, Sat 11-1 & Sun 12-3, $850,000, Berkshire Hathaway HomeServices California

Properties, Rachael Douglas 805-318-0900, DRE#02024147

6371 Lagunitas Court, 3BD, 3BA, Sun 12-3, $1,695,000, Village Properties, Jackie Walters 805-570-0558, DRE#00835438

1128 Calle Lagunitas, 4BD, 3.5BA, Sun 1-4, $1,750,000, Berkshire Hathaway HomeServices California

Properties, Katya Sheets 805708-2323, DRE#02061444

3375 Foothill Rd #134, 3BD, 2BA, Sat 1-4 & Sun 11-4, $1,895,000, Village Properties, Susan Jordano / Hutch Axilrod / Spencer Cole 805-6809060 / 805-637-6378 / 805689-6673, DRE#01775462 / #01939922 / #02115510

Santa Ynez Valley

330 W Hwy 246 #134, 3BD, 2BA, Sun 2-4, $439,000, Berkshire Hathaway HomeServices California

Properties, Atanas Ivanov 805951-9518, DRE#02193507

707 Loma Way (Orcutt), 3BD, 2BA, Sun 1-3, $599,525, Berkshire Hathaway HomeServices

California Properties, Todd McChesney 805-291-7902, DRE#00864365

320 Dogwood Dr, 4BD, 3BA, Sat 2-4, $1,485,000, Berkshire Hathaway HomeServices

California Properties, Dianna Zlaket 805-390-8382, DRE#01701860

470 & 472 Dogwood Dr, 5BD, 5BA, Sat 12-3, $1,495,000, Village Properties, David McIntire 805-315-8444, DRE#01897654

Realtors: submit your open house listings at INDEPENDENT.COM/ OPENHOUSESUBMISSIONS Email:

$25

3570 Woodstock Ranch Road | Santa Ynez | $6,150,000

Rise above the misty fog to the Top of the World views of Rancho Cielo Vista, the ‘’Sky View Ranch’’, 20 acres of relaxation and luxury with access to miles of riding trails. Enter the private gates and follow along the meandering driveway to discover fenced pastures, a beautiful custom barn complete with equestrian amenities and 2 luxury apartments for your guests who come visit you in Wine Country (a 2bd/2ba & a 1bd/1ba). The large pasture/future arena site features an observation deck and offers views of open fields and rolling hills. Continuing up the main driveway past hundreds of dramatic Oak trees the stunning remodeled Contemporary Farmhouse showcases the most exquisite valley views that will take your breath away. Over 6,500 sq. ft. of gracious living spaces, with walls of glass, your personal resort-style pool, decks and covered patios for that coveted Santa Ynez Valley indoor/outdoor living. This magnificent ranch compound is configured as 4 residences totaling over 8,000 sq. ft. with a total of 9 bedrooms, 8 full baths and 1 half bath. There are not enough words to describe the beautiful details of this incredible ranch estate, as this property must be seen in person to truly experience its magic. Come get lost in the views from the “Sky View Ranch”, Rancho Cielo Vista. Explore

Buyers Want to Move In Early

Q: Marsha, in 10 days we are closing escrow on the sale of our house. The buyers have to be out of their house in four days. They’ve asked if we would consider allowing them to move in early. The buyers’ agent doesn’t see anything wrong with the idea. She has allowed early occupancy before and never had a problem. My agent, on the other hand, is adamantly against it. It’s been a really friendly and smooth escrow. I’m inclined to let them take possession early. What are your thoughts?

A: My thought is no, no, and no! So the buyers’ agent never had a problem with letting buyers take early possession? That’s great. But the thing about problems is you don’t have them until you do. And then you have a problem. The buyers’ agent’s attitude is like saying “Why buy car insurance? I’ve never had an accident before.” Not allowing early occupancy before the close of escrow is your insurance against potential disaster.

Buyers are likewise reluctant to allow sellers to remain in possession of their former home. It’s for the same reason sellers shouldn’t let buyers take early possession. Things go wrong. Once the property transfers to the new buyer, what is the status of the seller who remains in possession? What is the title of the buyer who moves in early and doesn’t own the property yet? Are they soon-to-be owners? Maybe. What if they decide they really don’t want the house? Are they still buyers, or are they now tenants or squatters? They’re definitely a nightmare. With their status uncertain, how do you remove them from your house, cancel escrow, and put your house back on the market?

Your buyers’ agent is probably right 99 percent of the time. However, the California Association of Realtors (CAR) is so concerned about that one percent when things go awry that they developed the Buyer Early Occupancy Addendum (CAR form BEO). This form states the terms of the possession; any money involved; who pays utilities, maintenance, and insurance; and much more. The important paragraph to note is where CAR states in bold and all capital letters: “Brokers do not recommend early occupancy … consult legal counsel … if buyer and seller agree to early occupancy they are doing so against the advice of broker and at their own risk.”

Many dramas have occurred. Here is just one I recently heard about. The buyer took early possession and immediately started his remodeling project. He tore down the garage. No permits or building contractor involved. His loan fell through. The buyer moved out and the owner was left with a mess.

What happens if the lender runs credit right before closing and the buyers have gone on a furniture-buying spree for their new house? The additional debt they’ve taken on wrecks their debt-to-income ratio. Loan canceled. Or the title company discovers a new lien that hadn’t surfaced before. Liens can take weeks to clear. The buyers’ friend

MADHU KHEMANI

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Professionally Representing Sellers and Buyers in Santa Barbara, Montecito, Ventura, and Santa Ynez Valley for over 15 years.

805-252-0625

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falls and gets injured. Who is responsible for the injury? Or … I hope you see that there are infinite variations on this early move-in scenario. There is no incentive or reason to allow early possession.

Marsha Gray, DRE #012102130, NMLS#1982164, has been a real estate broker in Santa Barbara for more than 20 years. She works at Allyn & Associates, real estate services and lending. To read more Q&A articles, visit MarshaGraySBhomes.com. She will research and answer all questions submitted. Contact Marsha at (805) 252-7093 or MarshaGraySB@gmail.com.

If you would like Betsy to trace your home’s history for her column, send her a message through the contact page of her website: betsyjgreen.com.

SANTA BARBARA COUNTY SALES

Bella Cavalli Farms & Vineyards

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Private wine country vineyard and equestrian estate in the heart of the Santa Ynez Valley. Wine label and wine club membership available.

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Magical Mountaintop Property

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Truly a once in a lifetime live/work opportunity. The venerable Cielo Store curates the ultimate live-work retreat on an acre of land.

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Upper Eastside Retreat

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Turnkey single-level home with a large deck that overlooks the stunning Zen garden backyard.

Open Houses: Saturday 12-3 pm & Sunday 1-3 pm

Three Bar Diamond Ranch

5 BD | 5 BA | $4,499,000 10901CreekRd.com

Private Ojai equestrian estate on nearly 13 acres. It features a pool, spa, media room, wet bar, 60 stall barn, and a riding rink.

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