Kevin Costner’s sprawling Southern California coastal estate is on the market for $60 million. The 10.25-acre property is on a bluff in Carpinteria, approximately 10 miles outside of Santa Barbara. The property features unobstructed views of the Pacific Ocean, the Santa Barbara mountains, and several nearby islands. Residents also get exclusive access to a quiet beach and a path for horseback riding.
The property’s sole structure is a “modest house,” according to Tim Hoctor, co-listing agent for the property and a friend of Costner’s, as reported by Mansion Global. Costner reportedly ditched past plans to build a bigger residence, a guesthouse, and a pool; the existing home has just two bedrooms and one bath. Still, the breathtaking photos of the estate more than make up for the mystery of the Padaro Lane house itself. Judging by the sweeping pictures provided, the grass seems to go on forever, and the ocean and mountain views are stunning. (Image from Architectural Digest)
3271 Padaro Lane will be open this Sunday from 12 to 3pm. Hosted by Kirsten Wolfe and Debbie Lee.
Designed by noted architect Robert Senn in 2008 and set on world renowned Padaro Beach. This 7,287 square foot luxury Hamptons style estate is built on a knolltop with 105 feet beachfront offering 6 bedrooms en-suite, bathrooms have Carerra marble, master suite downstairs and upstairs, living room with 30′ glass doors that open electronically to jaw-dropping ocean views., Sonos sound systems, private beach and deck, guest suite has separate entry, security system inside and out including laser sensors and cameras for ultimate privacy and security. Possibly the best location on Padaro beach.
Ellen and Portia have listed their newly remodeled home on Hidden Valley Lane with Sotheby’s International Realty for $45,000,000. Click on the link for more details and photos: Ellen and Portia’s Hidden Valley Lane home
Last September Governor Jerry Brown signed Senate Bill 1069 and Assembly Bill 2406 that promotes secondary dwelling units aka accessory dwelling units (ADU) which as of January 1, 2017 has gone into effect. Accessory Dwelling Units are defined as housing structures that provide complete independent living facilities and include permanent provisions for living, sleeping, eating, cooking, and sanitation on the same parcel as another dwelling. The idea is this will hopefully help defeat the affordable housing crisis in California by creating more affordable housing. So, what’s the difference between an Accessory Dwelling Unit and a Second Unit?
Not recognized by city or county as a second unit (sometimes it is though)
The market does NOT consider it a second unit
Probably does not contribute as much to value
Inferior to the main unit in size and location (maybe quality too)
Has kitchen, bathroom and sleeping area
May or may not be separately metered
May or may not have a separate address
May or may not be attached to the main house
Recognized by city or county as a second unit
The market recognizes it as a second unit
Likely contributes more substantially to value
Zoning allows two units
It is probably separately metered
Most likely has a separate address
May or may not be inferior in size and location to the other unit
May or may not be attached to the main unit
On a local level, Accessory Dwelling Units supersedes local jurisdiction (until or unless a City adopts a new ordinance) for Secondary Dwelling Units. It’s important to note that projects within the Coastal Zone still fall under the permitting requirements of the Coastal Act.
Mortgage rates climb to 2017 high. Rates have hit their highest point so far this year, although one analyst predicts that even signifcant gains in the years ahead won’t likely slow down the housing market.
Freddie Mac says that 30-year, fixed-rate mortgages averaged 4.21 percent for the week ended March 9, up on both a weekly and year basis. Fifteen-year, fixed-rate mortgages averaged 3.42 percent, also higher than the previous week and year.
But even if mortgage rates were to rise to 7 percent, home sales should remain consistent. Writing for Forbes, National Association of Realtors’ Chief Economist Lawrence Yun forecasts that there will be about 6 million home sales per year over the decade, while cautioning that an unforeseen recession with substantial job losses could derail that prediction.
Mortgage Rates as of March 17, 2017 from Wells Fargo: 5/1 Adjustable: 4.125% * 30 year fixed rate Jumbo: 4.25%
Santa Barbara Real Estate Market Trends from January 2013 to February 2017 for number of sales for that month and year. This graph was prepared by Fidelity Title Company in Santa Barbara. The graph reflects the number of sales for the month for southern Santa Barbara. (Carpinteria to Goleta) Click on image to enlarge.
You might need to turn up the volume here. After 25 years Jim O’Mahoney’s Santa Barbara Surfing Museum is closing. A sad day in Santa Barbara for one of the finest collections of Surfing and Skateboarding memorabilia in the world. Back in the day Jim was a true legend in Surfing and Skateboarding. Too many stories to share here in this post. Also, a reflection on all the changes taking place in Santa Barbara’s “Funk Zone.”
Originally offered for sale at $100,000,000 the late Michael Jackson’s Neverland Ranch is now offered for sale at $67,000,000.
Neverland Ranch is nestled into the rolling landscape of the Santa Ynez Valley in the town of Los Olivo. With its dramatic mountain ranges, flaxen-colored fields, and century-old live oaks, this estate exudes the ambience of a grand European manor while remaining an inviting, comfortable, livable oasis.
The estate consists of approximately 2,700 acres and blends effortlessly with the natural surroundings. The land borders the Los Padres National Forest, providing the property with utmost privacy and serenity as well as an inspiring uninterrupted view. Meticulous landscaping — which includes lush formal gardens with seasonally changed plantings — provides vibrant color for much of the year.
Neverland Ranch also includes multipurpose barns, a petting zoo, staff housing, an additional two-bedroom guesthouse, an administration building, and a paved helipad. All water needs are sourced through multiple private on-site wells. 5225 Figuero Mountain Road can only be shown to pre-qualified prospective buyers.