Rare is the high-end property around here that sells for the initial asking price (notwithstanding the current white-hot market for turnkey Montecito). The question is: how far does the number have to drop before someone bites? Here are the week’s top reductions….
On a juicy nine-acre lot between Ladera Land and Toro Canyon, with ocean and mountain views, 3007 Vista Linda Lane (↓$1.6M to $9.3M) has a lot to recommend it—and then you step inside. Interiors are done in that grandiose-meets-rustic aesthetic so prevalent in houses near $10 million in Montecito. Still, having dropped $3.2 million since it was initially listed in early 2018, this house might be priced to move.
···················
Cheaper but requiring more work to bring it up to date is 620 Cima Vista Lane (↓$1.145M to $6.85M). The “virtually enhanced” photos of show what could be done to tone down at least some of the rooms. With the hot market in Montecito moving up past $6 million, it’s hard to believe this won’t get snapped up by L.A. types worried about getting boxed out and willing to look the other way at the more rococo elements. P.S. Shouldn’t a trompe-l’oeil mural make more of an effort to match the room?
···················
A few doors down from the Rosewood Miramar Beach resort, 1556 Miramar Beach (↓$450K to $7.95M) is the rare property on Miramar Beach that doesn’t need updating. Sure, it’s narrow and only has two bedrooms, but if you love the beach and don’t believe in global warming….
···················
I don’t know what to say about 575 Braemar Ranch Lane (↓$255K to $3.995M) in Campanil, other than once you’re in the house, you don’t have to look at it. And the ocean views are splendid.
···················
The owner of 2050 Garden Street (↓$750K to $4.75M) bought it in 2008, added the lot next door on E. Padre, and sunk a ton of money into the property, turning it into a one-of-a-kind restoration of a Crocker Row house. Unfortunately, he/she also made a few idiosyncratic decisions, such as not putting a shower in the master bath.
···················
The spec reno at 1404 Greenworth Place (↓$100K to $3.35M) in the Hedgerow came on the market two weeks ago, and feedback must have been that it was priced too high.
···················
“Charm and character galore in this rustic 1970’s Adobe pied de terre,” says the listing for 1035 Coyote Road (↓$24K to $775K), which is the brightest possible way of looking at it. The listing also says you can “use the current plans to build a 2600+ SF home with ocean views,” although you might want to check first with whoever commissioned the plans, which are labeled for 137 Olive Mill Road.
················
Subscribe to Siteline’s email newsletter: You’ll never miss a post, and you can always unsubscribe.
Comment: