495 Santa Rosa Lane, Montecito CA

If you are looking for a wonderful family compound or a restful weekend retreat , this new Montecito listing has it all! Located on a lush 1.3 acre parcel within walking distance to Montecito Union School and the Montecito YMCA, this 5 bedroom/5 bath contemporary home includes a light and bright Great Room that opens to a deck overlooking the pool, spa, and open-air pavilion. Visit 495SantaRosaLane.com for a full photo tour, floor plan and additional information.
Offered for purchase for $4,295,000. Call Kelly at 805-895-4406 for a private showing.496

5110 Cathedral Oaks

If you are looking for privacy, land, and a great house, check out our listing at 5110 Cathedral Oaks. This one-acre property is NOT on Cathedral Oaks; it is located about 1/10th of a mile down a private lane and in an enclave of about 16 homes. The area was once a 25-acre lemon ranch owned by “Duke” and Alice Sedgwick until the1950’s. Today the property still retains the feel of a “ranchette” and is zoned for horses, while being just minutes from schools, shopping, and other amenities.

The custom 2-story home is ideally suited for extended family or dual living, with exterior access to a suite on the second floor. Don’t miss this unique property that is priced to sell!  Newly offered for $1,150,000. Visit www.5110CathedralOaks.com for more information.

1585 Ramona Lane

We are really excited to announce a new land listing in Montecito at 1585 Ramona Lane, offered for $1,895,000. This prime .8 acre parcel is located on one of the best streets in the Hedgerow. The central location provides easy access to the beach, Montecito Union School, and both the Upper and Lower Villages.

1585 Ramona was once part of a larger estate, built in 1928. The parcel still retains the original privacy wall along Ramona Lane, as well as a charming 2 bedroom, 1 bath cottage of just under 400 sq.ft. Mature landscaping, a tennis court and pleasing southern exposure with mountain views make this buildable parcel an ideal estate site. Visit www.1585RamonaLane.com for more information or call Kelly at 805-895-4406 for a private showing.

Rates are at historic lows…

Even though I am ‘in the loop’ on what’s going on in the mortgage world, whenever I see a rate sheet I am truly amazed. Give me a call if you need a referral to a great mortgage broker or lender!

Conforming  up to $417k loan amount
 
5yr ARM-3.00% with 1pt, 3.75% no pts
7yr ARM-3.25% with 1pt, 3.625% no pts
10yr ARM-3.75% with 1pt, 4.00% no pts
15yr Fixed-3.625% with 1.5pts, 3.75% no pts
30yr Fixed-4.00% with 1pt, 4.25% no pts
 
High Balance Conforming up to $729,750 loan amount
 
5yr ARM-3.375% with 1pt, 3.625% no pts
7yr ARM-3.625% with 1pt, 3.875% no pts
10yr ARM-4.00% with 1pt, 4.25% no pts
15yr Fixed-3.875% with 1.5pts, 4.125% no pts
30yr Fixed-4.375% with 1pt, 4.625% no pts
 
Super Jumbo up to $4MM loan amount
 
5yr ARM-3.875% with 1pt, 4.25% no pts
7yr ARM-4.375% with 1pt, 4.625% no pts
10yr ARM-4.875% with 1pt, 5.125% no pts
15yr Fixed-4.75% with 1.5pts, 5.00% no pts
30yr Fixed-4.75% with 1pt, 5.125% no pts

Guide to choosing a Realtor

We found this very useful guide written by J.D. Power and Associates to assist Buyers and Sellers when interviewing a Realtor to assist them.

J.D. Power and Associates offers the following tips to consumers who are buying or selling a home:

Finding the right agent to suit your specific needs is critical. J.D. Power research has consistently demonstrated that having the right agent is critical to a satisfying home-buying or -selling experience. Due to the unique nature of real estate transactions, clients often form bonds with their agents, as a single buying or selling transaction can take several months or more to complete. For customers who have previously bought or sold a home, the right agent might be someone they’ve worked with successfully in the past.  For first-time buyers, seeking recommendations from friends, relatives, and colleagues is critical.  Increasingly, agents and brokers are advertising their services on the Internet, so this can be a good starting point for research, particularly for someone moving far away from their current location.
In addition to a buying or selling agent, consider the additional services you may require. Buying and selling a home is a complex undertaking with many “moving parts” to consider. In addition to the real estate agent you work with, you may also need to work with a loan officer, a financial institution, title/escrow company, inspectors, appraisers, home warranty agents, movers, storage services, contractors, etc. One of the advantages of using a full-service real estate company is that they can assist with finding and coordinating some of these necessary additional services.
For sellers, marketing one’s home should be a primary focus.  In addition to finding the right agent, home sellers should pay special attention to tools used to market the home. When selecting an agent, find out their approach to open houses and online marketing, in particular. J.D. Power research finds that home buyers often search for homes online long before they engage a buying agent, or even attend an open house. Ask about which websites will contain the home listing, the number of home photos that can be included and if any special features will accompany the listing, such as virtual tours or mortgage calculators. Tools that assist prospective home buyers may help attract attention to the listing.
For buyers, it’s important to understand the full cost of the home prior to making a purchase. It’s prudent for home buyers to establish a housing budget and to expect agents to show homes in the appropriate price range. Particularly for first-time buyers, it’s important to understand all the associated fees and expenses that go along with purchasing a particular home.  These can include one-time expenses, such as “points’ that lower mortgage rates, title fees and appraisals, as well as ongoing expenses such as homeowners association fees, property taxes, or other specialized local taxes that can impact your monthly payments.

The 2010 Home Buyer/Seller Study includes more than 3,000 evaluations from 2,817 respondents who bought or sold a home between March 2009 and April 2010. The study was fielded between April and May 2010.

Santa Barbara Economic Forecast

In case you missed this article in Friday’s paper, the Santa Barbara NewsPress wrote a very informative piece on our local real estate market based on a recent presentation by Dr. Mark Schniepp of the California Economic Forecast. Kelly attended this presentation on Thursday and is happy to discuss it with you. Give Kelly a call at 805.895.4406.

Link to article.

Fantastic New Price!

This very private custom home on 1 acre has recently been reduced to $1,195,000. The property is located about 1/10th of a mile off Cathedral Oaks Road and across from Foothill School, down a country lane. It sits in a private enclave of 12 homes that was once a 25-acre lemon ranch owned by the Sedgwick family. For more information about this property, please visit www.5110CathedralOaks.com or call Kelly at 805-895-4406.

Property Pick of the Week: 702 Palermo

We hate to pick our own listings as Best Buys, but this darling home is a great value located in one of Santa Barbara’s favorite neighborhoods: Hidden Valley!
This approx. 1,440 sq.ft. home boasts an open living room with fireplace and sliding doors to the rear yard, an expanded master suite, an open and bright eat-in kitchen, a pool, and a detached 2-car garage, offered for $689,000. Visit 702Palermo.com for more information or call Kelly for details.

New Listing in Mission Canyon

We are pleased to announce a new listing in the Santa Barbara Foothills: 1051 Cheltenham, offered for $1,295,000.

This stately, well-maintained ocean view home exudes comfort and ease of living. Boasting almost 3300 sq.ft. and a versatile floor plan, the spacious home offers 5 bedrooms (3 w/ en suite baths), 4 baths, a large family room, and an open, airy & updated kitchen that flows seamlessly into the living/dining area. Most of the rooms enjoy a private patio or balcony, further enhancing the indoor/outdoor living.

This property is a rare find in the sought-after Roosevelt Elementary attendance area, and is close to several popular hiking trails, the Botanic Garden, and Santa Barbara Mission and the Natural History Museum. Call Kelly for a private showing at (805) 895-4406 or visit 1051Cheltenham.com for a floor plan and more information.

1720 Glen Oaks – Price Adjustment

Our wonderful offering at 1720 Glen Oaks Drive in Montecito recently underwent a price adjustment of $500,000! This property is now offered for sale at $3,995,000 – a fantastic value!
This property has it all: 4 bedroom, 4.5 bath main home of approximately 4,000 sq.ft., custom built with the highest quality finishes and attention to detail; 2 bedroom, 1 bath pool house with fireplace, French doors and private patio; tantalizing spa, waterfall and pool set amidst an expensive patio with a full summer kitchen; manicured 1 acre property in the exclusive Glen Oaks Estates area close to Montecito’s Upper Village and in the Montecito Union Elementary attendance area. Please visit 1720GlenOaksDrive.com for more information and a floor plan, or contact Kelly directly for a private showing at (805) 895-4406.

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