Last week’s sales….
851 BUENA VISTA DRIVE
This 12,168-square-foot property has now sold three times in 18 months: first for $12.2 million in September 2020, then for $13.25 million in December 2020. The current seller mainly did a cosmetic makeover, but it worked—and how.
Listed: $35 million in May 2021, then cut twice to $27.75 million.
Closed: $25 million.
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3511 SEA LEDGE (ABOVE)
Quaint oceanfront three-bedroom with guest house; the seller paid $8.3 million in February 2020.
Listed: $11.295 million in February 2022.
Closed: $11.3 million.
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1039 CIMA LINDA LANE
5,178-square-foot Mediterranean on Eucalyptus Hill.
Listed: $10.5 million in August 2021, then cut twice to $9.2 million.
Closed: $8.7 million.
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200 OLIVE MILL ROAD
Six-bedroom house that was originally the mill that Olive Mill Road was named after.
Listed: $8.5 million in December.
Closed: $8 million.
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2062 CHINA FLAT ROAD
1968 Jack Warner house in Birnam Wood.
Listed: $6.15 million in February 2022.
Closed: $6.35 million.
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427 PIMIENTO LANE
1941 teardown on .61 acre with an adjacent 1.12-acre vacant lot.
Listed: $5.5 million in February 2022.
Closed: $6 million.
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3415 CAMPANIL DRIVE
Six-bedroom house on 1.19 acre.
Listed: $5.695 million in February 2022.
Closed: $5.695 million.
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679 MISSION CANYON ROAD
2.1-acre property with two residences; the seller was the Unity Shoppe.
Listed: $5.495 million in November 2021.
Closed: $4.6 million.
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116 W. YANONALI STREET
Three-bedroom townhome in West Beach; the seller paid $2.355 million in November 2019.
Listed: $3.395 million in February 2022.
Closed: $3.615 million.
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7732 KESTREL LANE
Three-bedroom house in the Bluffs gated community.
Listed: $3.25 million in February 2022.
Closed: $3.45 million.
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815 TYE ROAD
1932 three-bedroom.
Listed: $2.949 million in February 2022.
Closed: $3.3 million.
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1337 CLIFF DRIVE
1,749-square-foot house with an ocean view.
Listed: $2.695 million in March 2022.
Closed: $3.25 million.
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And a few others worth checking out:
••• 1111 Las Canoas Lane: $2.715 million.
••• 1148 N. Patterson Avenue: $2.6 million.
••• 309 E. Islay Street: $2.3 million.
••• 921 Barcelona Drive: $2.2 million.
••• 2558 Mesa School Lane: $2 million.
••• 1809 Stanwood Drive: $875,000.
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I’m still in awe that the buyer of 851 Buena Vista could not see that the only “renovation” and “reimagining” that happened was a white paint bath, a re-stain of floors, and an extraction of lush foliage. Oh…and the family room fireplace was resurfaced. It’s crazy. Crazy! So curious who was duped!
SB, I highly advise you to buy a ton of white paint and become successful. Clearly, your lack of knowledge regarding supply and demand and the desire for finished products is obscuring what intellect you may possess.
I wonder how the County will spend the windfall in property taxes that this inflated market is producing?
(just notes : I previously owned 7732 Kestrel, we got 2.2M in March 2018 and felt lucky to get any offer, things were not selling there, but the tragedy in Montecito brought us the buyer who owned a home there..the profit of 1.2M in recent sale was unjustified, nothing had been redone or updated. Crazy.
Also crazy, 2.6 for N.Patterson, I currently live around the block from this house and look down on its backyard, which is only a pool and original 1978 house no update, wallpaper and all, terrible location in front of a stop sign….what were they thinking?
At this point, would anyone be surprised if the county used the windfall to subsidize cannabis farming? I did try asking the county—both the assessor’s office and supervisor Das Williams, who represents my district—for numbers on exactly how much more property tax revenues have gone up since 2019, but I couldn’t even get a response.