The week’s notable new listings….
If the interiors of 3749 Santa Claus Lane ($7.85 million) seem a bit quotidian for a house at this listing price, bear in mind that the residence is just one component of the property, a two-bedroom apartment sharing space with two office suites, a warehouse, and a Pilates studio.
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The 9.4-acre Valley Heart Ranch, as 545 Toro Canyon Road ($14.9 million) is called, includes a four-bedroom main residence, “two guest houses, ocean-view pool, equestrian arena with chic event barn, ocean-view gym, sport lawn, garage/indoor sport court, fully operational, state-of-the-art ranch infrastructure, and award-winning coffee bean orchards.” Not to mention charm by the bushel.
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The Hope Ranch estate that Blake and Krystle Carrington retired to after “Dynasty” went off the air is now on the market: 4277 Cresta Avenue ($7.5 million), 5,600 square feet of dated frippery. (I believe the color of that tub is Blueberry Yogurt.) That said, the shape of the pool is fantabulous.
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Warmer design choices—and raising another ceiling or two—would amp up the sweetness of 760 Romero Canyon Road ($3.995 million), where the only significant demerit I can see is that the property has a fair amount of exposure to the road.
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Upper East houses have been selling fast but 1931 Garden Street ($3.895 million) is priced pretty high for a house that’s relatively small (2,788 square feet), possibly turnkey—no interior photos are on offer—but lacking panache, and at the corner of E. Mission Street.
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2629 Caspia Lane ($2.395 million), in the Summerland Cottages community, went intro escrow immediately, despite some dated finishes.
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And a few others worth checking out:
••• 776 N. La Cumbre Road ($1.57 million, above): Looks townhouse-y, but it’s not.
••• 1049 Tunnel Road ($2.895 million): Spanish in Mission Canyon.
••• 1626 Miramesa Drive ($2.495 million): Awkward entrance but nice moments inside.
••• 3036 Hermosa Road ($1.825 million, below): California cottage in Samarkand.
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Pricing has gone from very expensive (understandably, we’re a gorgeous and historic beach town, after all) to downright demoralizing. It’s doubtful Garden can fetch that price, or even close, but to even ask is insulting. That’s where we’re at. Hermosa is a beautiful little home I know well. But the thought of having to pay nearly 2 million just to land a smallish 3/2 in a nice neighborhood is depressing. Low-ish interest rates don’t make that affordable. I grew up here and I’m glad I got it when I did. We’ve now far surpassed prices at the height of 2007/2008 and I don’t see it going down. Even if there is an economic collapse nationally (of which I’m somewhat doubtful), all real estate is local. There is enough money – freed up now by remote work, too – to keep prices afloat here for as far as I can see. I predicted this exact surge at the beginning of COVID, yet I can’t help but feel a bit sad about it. We truly have lost any claim to being even remotely within reach even for many people even in upper income levels. It wasn’t that way even a few years ago.