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When I am asked to name some of the most beautiful spots in the Santa Ynez Valley, the Alisal Ranch is always on my list. This 10,000 acre property is all about nature with thick stands of ancient oaks, abundant wildlife and an upfront seat from which to view our majestic Santa Ynez Mountain Range. It really does not get any better here. The Alisal, as we call it, is a working cattle ranch, a special dude ranch and home to 63 lucky property owners. This is a tranquil community, owners who desire a social connection get together to hit some balls around the golf course, share a bottle of wine or take a walk on the trails. This is not a command performance; it is simply an option. From where I sit, this is a perfect place to retire and live the Santa Ynez Lifestyle. That is unless you
When you buy a property in the Alisal, you are actually buying the home and a leasehold for the land. This explains why the prices look remarkably low. The leaseholds vary from property to property, both in terms of the start and renewal dates and the annual fees. As is my understanding, the original land leases were for a period of 75 years. The lease fees are based on the appraised land value of each property. The renewals were set to occur in 25, then 15, then 10, 10 and 10 years from the start date. So at these junctures, the land parcels are or will be reappraised and the new annual lease fees determined. At this time, the annual lease for each parcel is based on 6% of the last appraised value of the land. Most of the properties have passed the 25 year period and are into the 15 year period. The next adjustment will begin a 10 year period.
Before you say “No Way” to a land lease, consider that these properties tend to be valued at a very deep discount to comparable fee simple properties. Beyond that, it is a fabulous lifestyle, incomparable really. Unless you are looking for a retirement spot for horses or agriculture, you should have a look…many people who said “No Way” to land leases are happy residents of this amazing place.
In looking at Alisal Ranch Properties for Sale, you should consider the land lease payment and renewal date along with the offering price. With the pummeling of the real estate market in general, you might be better off with a renewal date that is closer than one that is farther away.
341 Fairway Dr, Priced at $345,000. This .73 acre property has a 2 bedroom/ 3 bath home overlooking the fairway and offers a pool and spa.The current land lease is $34,500 and adjusts in 2018. I JUST GOT WORD THAT THIS PROPERTY IS BEING REDUCED TO $310,000. The adjustment acknowledges that this lease is somewhat higher than most others.
3021 Buttonhook, Priced at $395,000. This .78 acre property is situated between the 16th and 17th fairways and has an updated 3 bedroom/2 bath home. The current annual land lease is $29,160 and adjusts in 2016.
630 Rancho Alisal Drive, Priced at $409,000. This one acre property is on the uphill side of Rancho Alisal Drive and offers a 3 bedroom/3 bath home. The current annual land lease is $26,775 and adjusts in 2018.
180 Rancho Alisal, Priced at $477,000. This 3 bedroom/3 bath home also offers guest qtrs with its own entrance, pool and garden. The current annual land lease is one of the lowest at $17,229 and adjusts in 2016.
3110 Oxbow Pl, Priced at $489,000. This is a beautifully designed and updated 2 bedroom/2 bath home on a .5 acres with lovely gardens and views out the front. The current annual land lease is $20,743 and adjusts in 2017.
990 Rancho Alisal, Priced at $520,000. This 1.5 acre property sits high on a hill and offers a beautifully remodeled 2 bedroom/3 bath home, with a couple of patios from which to enjoy the fabulous mountain views. The current annual land lease is $23,400 and is due to adjust in 2016.
671 Rincon, Priced at $599,995. This is a beautiful property, nestled in the trees, with abundant glass and open spaces bringing harmony between the setting and the home. The current annual land lease is $18,900 and is due to adjust in 2014.
More Information: there are other aspects of both the lifestyle and the finances that I would be pleased to share with you. As always, contact me, by calling or texting me at 805 588-3616 or emailing me at [email protected]
That’s all folks