Rare is the high-end property around here that sells for the initial asking price. The question is: how far does the number have to drop before someone bites? Here are the week’s top reductions….
If you like to entertain alfresco—and you don’t have $25 million—you might consider 438 El Cielito Road (↓$150K to $3.825M).
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There’s also appealing outdoor space at 581 Las Alturas Road (↓$345K to $3.295M), if you don’t mind a bit of architectural exotica. The property first came on the market in October at $3.79 million, and it was last on at $3.64 million—so this big new cut might mark a significant increase in the desire to sell.
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Dramatic ceilings and a nice brick motor court at 637 E. Micheltorena Street (↓$259K to $1.999M), on the Lower Riviera, although it sort of looks like a townhouse complex.
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A $20K reduction barely registers, but I have a soft spot for diving boards and swan faucets, so here’s 8 Celine Drive (↓$20K to $2.275M), up above San Roque.
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685 Stonehouse Lane (↓$500K to $2.995M) is a flat, two-acre lot in Montecito, with “plans for a gorgeous single level home, guest house/ADU and pool.” It’s one house off East Valley Road, but if you orient the house toward the mountains, noise might be mitigable.
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