Real Estate Tasting Room

A Big Week for Santa Ynez Valley Real Estate Sales

Published by: Doris Banchik
Published on August 5th, 2012
Categorized under: Buyer Advisory, Properties

I had been holed up at the Inman Real Estate Connect conference in San Francisco, which explains my lag in posts over the past few days. I did pick up a lot of information there that I will share with you over the next day or so, but in the meantime, I returned to find that we had a BIG WEEK in Santa Ynez real estate sales.

SIX PROPERTIES WENT INTO ESCROW AND ANOTHER TEN CLOSED FINAL

Santa Ynez Properties That Went Into Escrow This Week.

Of the six properties that went into escrow in the past week, two were short sales and the remaining four were regular. The average listing price and days on the market of the regular sales was $719,200 and 267 (nine months), respectively; and the average list price and days on the market for the short sales was $507,000 and 114, respectively.

1222 Deer Trail, Santa Ynez, Priced at $819,000. This 1970′s ranch home, while original issue, has spacious rooms and a nice floor plan. It is situated on 1.25 acres, not highly usable, in a private setting in the lovely Deer Trail area. It also offers a pool, workshop and small vineyard. It was originally listed in May 2011 for $850,000, then reduced to the current price about six months ago.

2839 Grand Ave, Los Olivos, Priced at $625,000. This Los Olivos Victorian style home is situated on a small lot yet appealing close to the action in this desirable town. It had been listed for nearly 9 months, with an original listing price of $695,000. It was reduced to the current price this past April.

3250 Glengary, Santa Ynez, Priced at $635,000. This unique styled 1,800+ sq ft home is situated on an acre in desirable Skyline Park, with relatively inexpensive water. It had been listed unsuccessfully for $739,000 in 2010 and then brought back to market about 10 months ago for $649,000. It was reduced $14,000 about five months ago. As expected, that did not produce an offer. The property was just waiting for the right buyer.

1873 Refugio, Santa Ynez, Priced at $799,000. This cool 5 acre property offers a small, clean home, pastures, a nice horse barn and its own well. It is a good example of what I call a transitional property, for a buyer wanting something to use now and to expand as needed in the future. It was listed about 3 months ago at $849,000 and reduced to its current price at the beginning of June.

2070 Rebild, Solvang, Priced at $370,000. This 1600+ sq ft Creekside home has some modest upgrades and is situated on nearly 1/4 acre that backs up to another road, Viborg. It was listed at $489,000 about 6 months ago and gradually reduced to its current price.

3135 Samantha, Santa Ynez, Priced at $635,000. Listed for barely a month, this .8 acre property has lovely street appeal. The 4 bedroom ranch home is original 1976 issue, but has a good floor plan and can certainly be dolled up. The rear yard is very spacious and has great potential. I understand that this property had multiple offers. No surprise there.

Santa Ynez Properties That Sold Final This Week.

The average price of the ten properties that sold final this week was $875,400. While the average days on the market approached 7 months, the statistics belie the fact that 7 of the 10 properties sold final within about 2 months, which means they went into escrow in the first month of the listing. One number that really stands out is the discount of the sales price to the listing price. On average, the 10 properties sold for 97.3% of the last listing price and 94.3% of the original listing price. This clearly reflects the 7 properties that sold quickly.

2731 Stow St, Los Olivos, Sold for $485,00o. This charming Los Olivos home was sold before the ink was dried on the listing. Great cul-de-sac location, off the beaten track from the Los Olivos hub bub. It sold for full price.

60 Zaca St., Buellton, Sold for $425,000. They say there is a John for every Jane. or is it a Jane for every John? This unusual property on nearly 1/3 acre sold at 1421 days on the market (that is over 4 years!). We call this a career listing. It was listed in September 2008 for $634,000 and gradually brought down to its last listing price of $449,000. It sold for 94.6% of that. According to my trusty HP12C, it only lost $147.00 per day!

2557 Janin Way, Solvang, Sold for $350,000. For those of you who follow my blog regularly, you might remember my post on this foreclosure, which showed up on our MLS as in escrow. In other words, it did not have the benefit of full market exposure. This one acre property in Janin Acres, offers a home that apparently was in  As expected, it was sold by the listing agent at a mere $100.00 over the listing price of #349,900. Hummmm.

2132 Rebild, Solvang, Sold for $560,000. I considered this property as a Best in Class property, as it was one of the most appealing Creekside properties with great landscaping and a designer pool and spa. It backs up to a quiet area. The property sold final in under 2 months of listing (meaning that it went into escrow within a few weeks), at 94% of the listing price 0f $595,000.

1392 Faraday, Santa Ynez, Sold for $475,000. This charming home on 1/4 acre sold final in about six months of listing. This belies the fact that it went into escrow within a week of listing. That escrow fell out a month later and the property went back into escrow within a week. There was a long processing time. It sold for 95% of the $499,000 listing price.

938 Nysted, Solvang, Sold for $600,000. This mixed bag Sunrise Village half acre property with pool and big views had a dicey finale. It went into escrow the end of April, fell out two months later just shy of the closing, went back into escrow about a month later and closed in a couple of weeks at 102% of the $5887,000 listing price. The property was originally listed for $699,000. The property was originally listed for $699,000 on Jan 30, 2012.

88 1st St, Solvang, Sold for $365,000. This cute home was whisked off the market in the first few weeks of listing at $350,000. Looks like multiple offers as it sold for 104% of the listing price.

2850 N.Refugio, Santa Ynez, Sold for $1,340,000. This 17 acre tony Rancho Ynecita foreclosure also had a bumpy ride to the close. I posted on this property went it first came to market, thinking then, as I do now, that it is a great deal. While this grand dame has seen better days, it can certainly be brought back to its glory, taking into account the staggering views and amenities. It went into escrow within a couple of weeks of listing, then fell out. I posted on this event as well. It went back into escrow about a week later and has taken nearly 3 months to process. This is an unusually long time for a foreclosure. It sold final at $99.2% of the $1,350,000 listing price. A very good deal.

3001 Long Valley, Santa Ynez, Sold for $2,775,000. This spectacular, elegant Woodstock Ranch property, was the original clubhouse for the 100+ property Association. It has a Ritz Carlton feel, with staggering views. That being said, it is very unique, therefore not a property for everyone with 3 million to spend. It sold final in just 2 months of listing at 94% of the $2,950,000 listing price.

2650 Easton, Los Olivos, Sold for $1,379,000. This is another of my favorite properties, with a lodge style home and guest house on 4+ acres largely planted in Rhone vines. It is truly a mini vineyard estate in desirable Los Olivos. See my New Listing Alert post for details. As expected, this property sold in a matter of weeks for full price.

Parting Shot. Reviewing sales information is an important part of Buyer’s research, as it provides essential guidance in property values. Are you interested in getting Santa Ynez Valley real estate sales information as it happens? You can call or text me 805 588-3616 or email me with your request. I will set up an automatic notification of sales, which is far more accurate than most of the big listing sites, such as Zillow and Trulia.

That’s all folks!

Cheers!