Rare is the high-end property around here that sells for the initial asking price. The question is: how far does the price have to drop before someone bites? Here are the week’s top price cuts….
The 1979 house at 3942 Laguna Blanca Drive (↓$300K to $2.7M), designed by James Morris, is an outlier for Hope Ranch, where the older inventory tends toward undistinguished ranch houses. Paint the exterior, update the kitchen, and get rid of the carpet and Dwell magazine would be salivating.
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The six-bedroom, nine-bathroom house at 115 Miramar Avenue (↓$495K to $4M), built in 1914, has tremendous curb appeal and a sweet backyard, but it’s two houses from the 101.
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Considering the proximity to the 101, the prices for condos at the new Villas at Olive Mill building at 107 Olive Mill Road have been eye-popping from the get-go. This two-bedroom (↓$500K to $4.25M) shows that maybe they weren’t entirely realistic. Wonder what it looks like with the lights off….
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For ocean views in Hope Ranch, 4050 Mariposa Drive (↓$360K to $4.49M) seems like it could be a good deal. A potential snag: The stairs to the master bedroom—and then more stairs to the master bath.
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On two acres in prime Montecito, 1475 E. Mountain Drive (↓$1M to $13.9M) has that Grand European Style that so many people in Montecito seem to like—or at least used to?
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Each time a property in the Carpinteria foothills lowers its price, the way 1959 Paquita Drive (↓$125K to $3.275M) just did, one has to wonder: is the pot to blame?
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