Doris Banchik-Moxley, Broker Associate, Sotheby’s International Realty  

About Doris and Contact

Looking for A Rare Santa Ynez Property? Check These Out

Yesterday’s  Santa Ynez Valley MLS caravan schedule included four properties, three of which are particularly unique and special. One was scratched, however, I will write on it here, as I had seen it several times in prior listings. I previewed three of the other four and will report on those today. Sorry for not getting this out yesterday; its a very busy time, but I have not forgotten you.

1979 Refugio Road “Rancho de Colores”

This 9.5 acre property is in a word “amazing”. A 1940′s Cliff May designed adobe hacienda is situated in the middle of this rectangular parcel, with a huge pasture in the front, and pastures, adobe barn and other horse and animal facilities in the back. There are several other vintage buildings around the adobe, including a one room studio, a one bedroom guest house, a wine cellar (which had been a meat locker) and another studio or office building. The home improvements on this property are truly unique, representing historically significant architecture and at least two rounds of ‘deep pocket’ remodeling and refinishing. It is a riot of color, with some thing to admire at every turn. And while perfectly furnished, the house and other buildings are each stand alone art. The adobe barn is a swoon for the equestrian set as well. Now from a living perspective, the house essentially has two bedrooms, a warm, wonderful master and another with its own outside door (hacienda style). The ceilings have been raised and the creature comforts added, so this is the best of both worlds. If you appreciate this amazing architecture and have a cool $4,250,000, you must see this.

3741 Mattei Road, Santa Ynez “The Ultimate Family Compound”

I had posted on this ultimate Santa Ynez Valley family playground when it was last listed. As with Rancho de Colores, this five acre property has a warm and beautifully finished farmhouse at its core. The house reflects an amazing designer aesthetic, and for me qualifies as art. The property also has a full wonderful guest house, another one bedroom residence, a huge hobby barn, a greenhouse, a tennis court, fruit orchard…well you get the point. And everything is done so well. As I walked around this property, I felt like I was in a movie set. The parcel itself is in Happy Canyon area, and while entirely usable and flat, it still has wonderful views of the Figueroa Mountains (purple ones). Mattie Rd is a mixed bag of sorts, not unusual in the Santa Ynez Valley. When this was listed a year ago, the asking price of $3,875,000 seemed to be a standout price. It is being offered now at $3,695,000 and has much more company today in our high end inventory.

1253 Deer Trail, Santa Ynez

“A Very Current Extreme Makeover in a Coveted Position in the Oaks”

First let me say that the cool contemporary experience this extensively remodeled 1966 ranch home on about an acre is not really captured in these photos. The home is accessed off a circular drive which provides some insulation from this moderately busy road. It looks like a well kept ranch home until you open the door and have a OMG moment. There is a huge long open space to your left and in front beginning with a slightly lowered, angular shaped living room with a large bank of tall windows that take in the wonderful Oaks around this property. This room opens up to a HUGE kitchen dining area with marble counters, chef’s appliances, white barn-style cabinets,  fireplace (don’t know if it works) and french doors that open to deck with pergola. From my perspective, this whole space seems to recognize the way so many of us live today. Its the place families and friends congregate. Its way cool. There are three bedrooms, one that opens to a rear patio and would make for a nice office, a small second bedroom and a good sized master, with clean, somewhat contemporary lines. The two baths are finely appointed with current tile, sinks and, a soaking tub in the master. The master closet may be too small for some folks. The rear grounds are simply landscaped, and surrounded by many older Oaks….this is wonderful. There are additional grounds well below the rear yard, and these are accessed by foot or SUV/quad bike. There is an older barn in this lower area; can’t comment on the condition, but consider it in its twilight years. This property has a good deal of privacy, with only one neighbor somewhat visible. I think that this remodel is very special; that may reflect my lifestyle more than the general public.  It is priced at $1,085,000, therefore is looking for a Buyer who loves it as much as I do.

And Then There Was….

E. Oak Trail, Santa Ynez

I am not quite sure what to say about this 21 acre Oak Trail Ranch property. Well I will begin by saying that at the asking price of $1,250,000, I thought there was a house on it. I say this as the last two to close there sold for $1,325,000 and $1,400,000. Well there was nothing on this property, with access up a steep windy dirt road. As best I can tell, there are two building sites; the one I saw was rather small, particularly when looking at 20+ acres. All of that being said, there were some beautiful views from the top and lovely privacy. Improving this property will not be an inexpensive affair, but if you are into building and have the bucks, you might look at this…

So that’s it for today….

If you are interested in knowing more about any of these properties, please do contact me by text or phone 805 588-3616 or email.

Cheers!

Doris Banchik-Moxley, Broker Associate, Sotheby’s International Realty  

About Doris and Contact

Santa Ynez Valley Real Estate Sales Brisk in First Two Weeks of May

Eleven Residential Properties Sold Final and Thirteen Went Into Escrow So Far This Month. Spring has sprung here and the stars are lining up for real estate sales. Buyers are feeling more confident in the economy than they have for years while the pickin’s are slim with historically low inventory. Ten percent of the Santa Ynez Valley residential real estate sold in the first two weeks of May.  In the same period, eleven properties sold final. It is safe to assume that these went into escrow in early April. The average sales price was $1,290,000 and they sold, on average, at nearly 97% of the listing or asking price.

Santa Ynez Valley Properties that Sold Final in the First Two Weeks of May

While the average sales price was approaching the Luxury end of our market, the numbers show a double hump. There were five sales below $500,000 and four sales at or above $1.4 million, three of which were Sotheby’s listings. On average, they sold in about 3 months. Here they are:

6271 College Ranch Rd, Santa Ynez, Sold for $6,000,000

This historically significant, nearly 200 acre Happy Canyon ranch is an amazing parcel with a 1940 early California ranch home and other improvements. This is very special. The property was listed in Jan 2012 for $7.8 million, reduced in July and Oct 2012 to $6.9 mil and $6.5 mil, respectively, and went into escrow in April 2013.

245 Meadowlark Rd, Santa Ynez, Sold for $1,650,000

This wonderful Meadowlark Ranches 5 acre estate embraces the primary passions of Santa Ynez Valley life: horses and vineyards. The main home is a cool hacienda style ranch, perfectly planned for entertaining. To this add a guest house, pool & spa, arena with view stand, large barn and an acre of prime Syrah vineyard, and you have the whole enchilada. This property was listed at the end of Oct 2012 for $1,695,000 and went into escrow on Valentine’s day (perfect gift). It closed at $1,650,000 on May 6. Someone got a plum

1325-1321 Via Dinero, Solvang, Sold for $1,400,000

This is a lovely five acre Fredensborg Hills Estate property, with extensive usability, great views, a 4,000+/- sq ft ranch home, and a 1200 sq ft, 2/2 legal second residence. Great location in Ballard School District and tony ‘hood. This property had been listed in June 2010 for $1,795,000 and was relisted in April 2012 for $1,595,000. It was reduced to $1,475,000 in Sept and went into escrow in March 2013. I can tell you that my phone has been ringing off the hook on this property over the past three months (yes, it was my listing)…its time had come. As I look back at its trajectory, I think that it fell into a space between a low priced fixer and great 5 acre estate, as the main residence has basic 1995 finishes. In other words, the typical Buyer would plan to spend some money bringing the lovely main house current. Well, the market caught up with this one and passed it. Great deal.

1948 Old Mill Road, Solvang, Sold at $1,395,000

This property is very special trophy property on .6 acres with a BIG wonderful Alisal Hills view across an historic reserve. The finish work on this 4200 sq ft home bespeaks quality..a Montecito type experience. There is also a guest suite on a second story. This property was listed in Oct 2010 for $2,95,000, then in June 2012 for $1,595,000 and finally in February 2013 for $1,395,000. Looks like between timing and price, this property found its sweet spot and closed in about two months at full price.

2621 San Marcos, Los Olivos, Sold at $605,000

This cool Los Olivos property is located in one of the desirable spots in this trendy town; its actually quiet and unaffected by the wine tasters and weekend commotion. The property is nearly .4 acre with a rear courtyard. The home kind of wraps around the courtyard, providing access from a number of rooms. While there has been some updating, it could use a sprucing. That being said, it sold in line with the new Los Olivos pricing ($600s are the new $500s), for $10,000 below the asking price of $615,000. Actually it sold in just two days. This property had been listed previously for $675,000 and $649,000, in 2010 and 2011, respectively, with no takers.

287 3rd Street, Solvang, Sold for $599,000

This is one of the most charming, private properties in this area of Solvang. At nearly a half acre, it has the feel of a country bungalow overlooking the creek thick with trees. The home is right out pottery barn, with french doors, wood flooring and crown molding. The master suite is a fabulous…really. There is also a second building on the rear campus, that would be great for parties or teens…also very cool. The home had some deferred maintenance and that was considered in the price. It was listed in Mid February, went into the current escrow in Mid March and closed at full price.

479 Deer Canyon Road, Solvang, Sold at $470,000

This is one of the largest homes (3300 sq ft) in Homes of Ballard Canyon. These are seemingly well built homes and among the newest developments in the Valley. This one needed some sprucing and was listed and sold as a short sale. It was listed at $470,000 in November 2012 and went pending on that day…hummm. It took five months to close…yikes. If you want to know who took it in the shorts, this property sold for $775,000 in 2004 (and the market continued to climb for 2+ years). Good deal for the Buyer.

221 Valley Station, Buellton, Sold at $400,000

This 1500+/- sq ft home (PUD) was a foreclosure and sold for $100.00 over the asking price of $399,900. It had been listed for $329,000 in May 2012, and looks like it was foreclosed in December. I cant really tell what happened here. Anyhow, this property went into escrow in 6 days after listing and closed in about 2.5 weeks.

419 Glennora Way, Buellton, Sold for $425,250

This is a vintage 70′s ranch house on about 1/4 acre, with a small rear yard but the privacy of a hillside behind. Not much more to say, although the listing agent calls it a “charmer”…hummm. Well it looks like it was priced at $397,000, and sold pronto at $425,250, must have been multiple offers. Closed in 2.5 weeks. It does make me wonder about pricing. What would this have gone for if listed at $449,000??? hummm

1773 Laural Ave, Solvang, Sold for $330,000

This is a third acre lot in Solvang with two sort of houses. Looked like tear downs to me, but a contractor might see this property differently. It was listed for $350,000 in Dec 2012.

1052 Cota, Santa Ynez, Sold for $235,000

Once again, this throwback 1/1 teepee on about .25 acres went into escrow in 6 weeks. It was listed at $289,000. Very cool!

So that’s it for today…want to know more about the values of these properties? Sign up for my emails, by texting or calling me with your email address at 805 588-3616 or email that to me.

Cheers!

]]> http://santaynezuncorked.com/2013/05/16/santa-ynez-valley-real-estate-selling-at-nearly-97-of-listing-price/feed/ 0 http://santaynezuncorked.com/2013/05/14/todays-santa-ynez-valley-realtors-caravan-lovely-choices-under-1-million/ http://santaynezuncorked.com/2013/05/14/todays-santa-ynez-valley-realtors-caravan-lovely-choices-under-1-million/#comments Tue, 14 May 2013 21:00:04 +0000 Doris Banchik http://santaynezuncorked.com/?p=3174 SantaYnezUncorked.com is a leading resource for Santa Ynez Valley and Santa Barbara Co. real estate and lifestyle

Doris Banchik-Moxley, Broker Associate, Sotheby’s International Realty  

About Doris and Contact

Starting Out or Starting Over: Two Properties Under $500,000

Its Tuesday and that means Realtor Caravan, aka, Brokers’ Open for the Santa Ynez Valley MLS. There were five properties on today’s schedule, and I went to four. This week’s schedule was unique in that none of the properties was listed for a million dollars or more. In fact, two were under the half million mark. Here are my comments:

722 Hillside Drive, Solvang, Priced at $450,000

This semi-detached townhome is in upscale Mission Oaks. It is nicely finished with wood flooring, however, there are steps and stairs throughout, limiting this to a Buyer who can manage these. The living room , which is accessed down a couple of steps from the foyer, is quite lovely with some mountain views and surrounded by lovely oaks (see view above). It has a nice view deck as well. The kitchen is spacious with room for a small table, and has had some upgrades to the counters. The master suite is also accessed down a hallway off the foyer, however, once again, there is a step or two down. There are two other bedrooms and a bath on the lower level, which is accessed down a full flight of stairs. These bedrooms are modest but fine and there is a nice patio, which is rimed by some landscaping and trees, off the back at this level. The listing agent thought that that area, along with some space on the side might be fenced, subject to the HOA approval. This would be a good spot for a pup. The condo fees here are among the highest at $640.00 per month, but this includes pool, spa, clubhouse, walking trails, trash and seemingly all exterior maintenance and insurance. At the end of the day, it is probably close to a wash if you had a fee simple home with pool etc. Mission Oaks also offers free standing homes (these are condos), and the last one that sold was also in the $400k price range. Please contact me for more information including comparable sales, by phone/text at 805 588-3616 or email.

230 Ranch Road, Buellton, Priced at $499,000

My Pick: This is a very nice 4 bedroom River View home with original, basic finish work in very good condition. As my traveling buddy, Sharon Currie pointed out, the white grout on the kitchen counter is pristine. This home has a nice living room that is partially opened to a family room/kitchen combo, with a pantry and door to a small, very nice yard. The bedrooms are located along and at the end of hallway, with the first being designed as a den/study. The master is a fine size and opens to the rear yard. One of the other bedrooms is huge, and would have been a third garage bay, had the original owner chosen that option. Beyond that, this property is a hop away from the entrance to River View Park, which has wonderful views and is a great spot to play with your doggies, enjoy some outdoor sports or a picnic or marvel at the beautiful mountains. This property is the whole ticket and appears to be well priced. For a list of comparable sales or additional information, including open houses, please do get in touch with me by phone/text at 805 588-3616 or email. Tic Toc on this one.

Mountain Views Under a Mil

There were two other new listings on the schedule today, one in the Alisal Ranch (leased land) and one on the rim in the Village Collection. Mountain views from both, but very different properties.

640 Rancho Alisal, Solvang, Priced at $635,000

Yikes, what a view! I have to say that this Alisal property has one of the most staggering panoramas of those that I have seen. BIG, BEAUTIFUL MOUNTAINS. The property also has a very private, exclusive feel. While not one of the biggest homes, this one offers three bedrooms (many others have only two). The floor plan is very Alisal, with an open living room/kitchen and a step down (pit style) family room/den space. The kitchen is very spacious and open, currently sporting a marble-topped island, which may or may not stay with the property. The bedrooms are of modest size with the master on one side and the two other bedrooms on the other. The master enjoys big mountain views as well. The finish work on this property is vastly different from most of the others I have seen. Much of the flooring is concrete with some type of finish. The floors do show some cracking. There is a rawness to much of the finishes, that if changed out, would add a warmth to this amazing spot. I have always been attracted to warmer finishes in homes with big mountain views…like a big comfy seat to enjoy nature’s sculpture. This type of transition would seemingly bring a fairly steep price tag, but the finished product would be a showcase. The current land lease is $15,900, one of the lowest in the Ranch. However, it adjusts next year, and based upon the most recent adjustments, could produce a big pop in this annual payment. For more information on this property, the Alisal Ranch, land lease and other financials or to set up a showing, please call or text me at 805 588-3616 or email.

234 Valhalla, Solvang, Priced at $995,000

My Pick.  This is a lovely Village Collection property, located along the precious rim with views of the awesome Alisal Hills. This home, like many in the Village Collection has an elegance, with an Orange County type feel. The floor plan is open, with a large, very lovely living room, spacious open kitchen and dining area marked by two columns (perhaps a bit much). There are three bedrooms, once again with that highly desirable spread between the master and the other two. The master bedroom is very large, including a spa tub bath and a large walk-in closet. Overall, this property looks well cared for, with nice, but fairly basic finish work. The big ticket here are the rear grounds and the views. The landscaping is beautiful and provides the foreground for the partial mountain views. This property, while on the rim, does not have the BIG mountain views, but it has enough to enjoy and the associated privacy of the location. It also does not have the price tag of the BIG VIEW rim properties. This property is fine as it; then again, with some updating of the flooring and replacing some sliders with french doors, this could be an even bigger showcase. This is a very good choice for downsizers…..I have described some recent other listings in the Village Collection in earlier posts (see Valhalla property at the bottom. . The pricing there has been fairly consistent of late, but thus far there has only been one sale. For more information on comparable properties or to set up a showing, please call or text me at 805 588-3616 or email.

So that’s it for today. Things are rockin and rollin in Santa Ynez Valley’s real estate market, so you might want to stay on it.

Cheers!

Doris Banchik-Moxley, Broker Associate, Sotheby’s International Realty  

About Doris and Contact

California Tacos Bringing Fresh Food and More to Your Doorstep With a Movie

I have to admit that I love California Tacos in Nielsen’s Shopping Center off Alamo Pintado in Solvang. You can probably find me there, often by myself, scarfing down two adobada tacos with that wonderful creamy avocado sauce. Yummmmmm. Beyond that, these two big tacos and a drink are on the 5 dollar menu…you just can’t beat it.

Last week I got into a conversation with one of the young, charming owners, Alfonso Uribe, who sounds like the consummate entrepreneur as he discusses his many business interests. It is clear, however, that he has a real passion for California Tacos and seems to really enjoy finding new ways to please the patrons of his restaurant. So here are some of things he mentioned last week:

New Menu Items: Alfonso said he wanted to appeal further to our high school students and has created a new burrito with all of the standard burrito innards wrapped around a pile of FRENCH FRIES and finished with gucamole. OMG. I think he called this a California Burrito. And in the next breath he mentioned having a low carb burrito. I did not get the details, but think this will be an interesting challenge….more about this when it appears on the menu.

New Service: I was really intrigued by the new services in the restaurant’s pipeline, starting with delivery. The standard tacos and burritos will be packaged in a deconstructed fashion, allowing  the protein to be heated independent of the things you might want to have cooler. You can have the food delivered for immediate consumption or for eating at a later time. Very cleaver.

And then the real innovation is including a movie with the food delivery. This was Alfonso’s son’s idea, as it eliminates the need to go out at all. Clearly the focus here is on family time, and I think this is one cool idea.

We also talked about having a food truck, which might be coming in the future…

I am always delighted to see business people thinking outside the box….and when it comes to restaurants, that means great food and great service. I think the California Tacos formula is working..

If you have not tried California Tacos, you should…for sure.

Cheers!

Doris Banchik-Moxley, Broker Associate, Sotheby’s International Realty  

About Doris and Contact

Seven Properties That Reflected Seven Very Different Perspectives on A Home

Its Tuesday, so it Santa Ynez Valley Realtors’ caravan day. There were nine properties on our schedule, representing approximately 8.5% of our residential, non-condo listings. Most of these properties have been recently listed. Several really showed the design perspective of the Sellers, which ran the gamut. Here are my notes on the seven that I previewed:

2175 Holly Lane, Solvang Priced at $639,000

This was the sleeper of the day, largely due to the modest photographs in the listing. In fact, I was wondering why this price tag for this property before I saw it today. And now I get it. This is a wonderful property offering a very tastefully finished home, which extends beautifully into a an enclosed patio in the front and into a wonderfully landscaped rear yard. I have rarely seen an in-town home in which the home is so perfectly extended onto the grounds. The floor plan here was very rational with the master on one side and the two other bedrooms on the other. Again, the upgrades were very nice, making this a great turnkey property. I seriously doubt that this one will be on the market very long.

2730 San Marcos, Los Olivos Priced at $639,000

The upside to this property is its desirable Los Olivos location, at the very end of a cul de sac. It has great privacy and what appears to be a very quiet spot in a very active town. The house itself is basic in its finish work, with rooms on the modest side except for the separate master bedroom. There are three original bedrooms. The master, I gather, was added over the garage and is accessed through a half flight of stairs. It has a small bath as well. There are also some stairs going to the main door. There is a neat enclosed deck in the front, which occupies some of the quadrangle in the front of the house.

So If You Had $639,000, Which Would You Prefer?

So here you have two properties priced identically, one 3/2 completely remodeled and beautifully landscaped on .27 of an acre in Solvang, and one fairly originally finished 1977 with  4/2.5 on .17 acre in Los Olivos. If they were in the same location, they would probably be priced differently. So what is the incremental value of a Los Olivos property? Please send me your thoughts.

1619 Refugio Road, Santa Ynez Priced at $1,395,000

This is one fabulous 5 acre parcel with both rolling topography and extensive usability. It is located in Rolling Hills, which is a very cool private association, set way back off Refugio, with no road impact. Rolling Hills has a strong equestrian vibe and a wonderful array of different types of parcels with very different improvements. This one offers a 4/4 with a large living room, kitchen with family room and four bedrooms located along a long corridor. The open living space is quite compelling and has been tastefully toned down and updated by the present sellers along with some nice landscaping around the house. This property sold in 1/11 for $1,125,000. The bedrooms are of modest size and that end of the home feels a bit like a railroad apartment. The last room is actually a sweet with a kitchenette and would make for nice guest quarters. The living room overlooks a nice pool and has wonderful mountain views. There is also a small barn and numerous pastures. Once again, I do not believe that the photos in this listing really capture this wonderful property. The one I chose does the best job.

234 Valhalla, Solvang Priced at $1,050,000

Given the two the three other recent listings and one sale in Village Collection, I was eager to see what this one offered at a premium price to the others. I actually found this one to have a rather unique floor plan, which was a little challenging to follow. It felt as if I was walking from one room to the next with little coherence. The finish work in general was fairly basic, although there were some custom touches, such as the faux finished columns in the living room, and a rich paint palette. The effect was that of a formal home. There was no obvious explanation for the difference in price from the one the custom one that sold for $975,000 or the other two that are currently listed under a million. See my remarks on the three in this prior post.

200o Edison Street, Santa Ynez Priced at $3,675,000.

This 20 acre horse farm is located on Edison Street east of Hwy 154. The property is seriously outfitted for horses with large horse barns, arenas, pastures etc. This is a reasonably flat parcel that looks to be entirely usable. It is zoned Ag II, which allows for commercial agriculture, including horse boarding (looks like that is being done now) and small commercial vineyard. The 4/4 house is a modest ranch with another room after room configuration. There is also a rather sweet second residence with two bedrooms, an office and a kitchen/LR. There is a pool, surrounded by palms behind the main house that has a Palm Springs vibe. Short of that, this property is about horses and it seems to be quite a fine spot for that.

2905 Via La Selva, Santa Ynez Priced at $3,750,000

Please see my Pre=Listing Alert on this truly unique Santa Ynez Valley five acre estate. I had not actually gotten in to see the home since I had it listed in 2002, and all I can say is WOW. Probably the biggest remodel was to the grounds, which are stunning, from landscaping to the pool area to the horse area to the small vineyard. This property is breathtaking. The large home, which is designed on multi-levels has been decorated to the nines, in fact, it is challenging to see the finishes for the decor. I loved the family room remodel in particular, converting a plain Jane into a warm, rich space overlooking the pool and offering great mountain views. The large guest house/second residence also underwent a facelift and ties in better than ever with the main. All I can say is if you have $3,750,000 and a desire for a five acre trophy property…you should see this one. I simply cannot describe its impact.

So If You Had $3,700,000, Which Would You Prefer?

Unlike the first two, these two properties have very different buyers. But this comparison does point out the range in the relationship between the value of land vs. the value of improvements. While a 20 acre fully usable parcel should be worth considerably more than a five acre hill parcel, the improvements are like night and day between these properties. Different strokes for different folks. Please send me your thoughts.

111 S Refugio Road, Santa Ynez Priced at $6,100,000.

This is a gorgeous 50 acre parcel in a wonderful area of large, very high priced ranches. The grounds here are opulent. The home is very unique as it abuts a large European style horse barn. In fact, there is a glass or plexiglass window between the dining area and the barn. The build on this home is stunning, from its doors to its huge beautiful beams. It has elements of a hacienda mixed with a European feel. This is truly magnificent. I guess it should be at $6 million. Please see the listing for the details.

So, if you want any additional information on any of these properties or want a showing, you know what to do…call me at 805 588-3616 or text.

Cheers!

Doris Banchik-Moxley, Broker Associate, Sotheby’s International Realty  

About Doris and Contact

Figuring Out When to Buy and Sell Santa Ynez Valley Property

Santa Ynez Prices Rising More Slowly Than Urban Areas. The increase in Santa Ynez Valley real estate prices takes something of a different path than that of more urban areas, such as Los Angeles,or  even Santa Barbara. Our prices are rising, but not nearly at the clip in these urban areas. This seems in part related to the fact that we have many second home and pre-retirement /retirement Buyers, who tend to be slower in making a buy decision and are averse, in general, to getting into multiple offer situations. They can wait. However, I feel certain that this will change when:

• The Buyers realize that prices will continue to rise and they better get in now.

• Buyers of Santa Barbara properties are shut out of that market and need lower priced options.

How Do Prices Rise in Santa Ynez Valley Real Estate?. At this time, pricing in the Santa Ynez Valley requires that the Sellers, along with their Realtor’s counsel, price at a reasonable premium to recent sales of comparable properties. In a less promising market, successful pricing is in line with, if not below, recent sales. However, prices cannot rise, if they continue to be in line with prior sales. The premium on new listings, however, must take into account that the property might be professionally appraised for a Buyer’s loan, and appraisers use comparable sales. Thus the “reasonable premium“.

Ten Year Trend in Santa Ynez Valley Real Estate Listing and Sales Prices

This chart says a lot. First, at the height of the market in 2006-7, there was a convergence of average listing and sales price. Buyers and Sellers were on the same page. For the three years prior to that and the five years since, the difference had been progressively greater.

• Santa Ynez Valley real estate prices should rise more sharply as the spread between average listing price and average sales price closes. We see this starting to occur in the Fall 2012, only to be lost in the Winter 2013.
• In the last year, the average listing price rose by nearly 60%, while the average sales price rose nearly 17%.

We are in the cha-cha phase, where Sellers are reaching for the stars and Buyers are moving up gradually. I believe that the real rise in our prices will occur over the next 5-8 years, with sharper increases occurring in the latter half of that period.

So, What Does This Mean for You?

For Buyers:

• For first time Buyers, those who do not have to sell to buy and those selling in markets that are appreciating at a greater rate, this is the time to get serious about buying a property in the Santa Ynez Valley

• For Buyers who currently own property in the Santa Ynez Valley and want to upsize, this is definitely the time to get serious about selling and buying

For Sellers:

• For Sellers who are wanting to move on, then this is the best time in years to do so.

• For Sellers who have time and no urgency to sell, waiting may make sense, but do watch the market.

• For Sellers who are downsizing and want to do so in the next few years, this might be a very good time to get on with it. (the prices in the lower ranges of the market are rising much faster than the upper ranges).

So that’s my 2 cents for today. If you would like to discuss your particular situation with me, by all means do get touch by calling or texting me at 805 588-3616 or email.

Cheers!

]]> http://santaynezuncorked.com/2013/05/06/whats-happening-to-real-estate-prices-in-the-santa-ynez-valley/feed/ 0 http://santaynezuncorked.com/2013/05/01/this-weeks-santa-ynez-valley-realtors-caravan-three/ http://santaynezuncorked.com/2013/05/01/this-weeks-santa-ynez-valley-realtors-caravan-three/#comments Thu, 02 May 2013 00:09:11 +0000 Doris Banchik http://santaynezuncorked.com/?p=3134 SantaYnezUncorked.com is a leading resource for Santa Ynez Valley and Santa Barbara Co. real estate and lifestyle

Doris Banchik-Moxley, Broker Associate, Sotheby’s International Realty  

About Doris and Contact

Three Santa Ynez Valley New Listings

The three properties on our caravan this week represented tasteful choices from condos to trophy properties. Here are my thoughts:

1390 Via Dinero: A Trophy Property in Fredensborg Hills Estates

This one of those “I made it” Montecito-style estates in desirable Fredensborg Hills Estates. The 4300+ sq ft home was built by master builder, Mark Hemming, and it clearly feels that way. Mark has an extraordinary ability to marry the relaxed lifestyle with elegance and class and this is the statement as you walk into this home. There is no question that this is custom.  In this case the combination of wide plank pine floors and soothing plastered finished walls feels a bit Tuscan. The floor plan includes a formal living room, formal dining room, open kitchen with a fabulous adjacent family room with f/p on one side of the first floor. These rooms  open out to a large covered patio with fireplace and pool, making this a killer design for entertaining. There are three bedrooms, or two bedrooms and office/den on the other side of the first floor. The rooms are good sized. The huge master with two decks and office/den are accessed through a central winding staircase. The grounds have been elegantly landscaped and are in keeping with this impressive home. There are some mountain views. Part of the acreage is across the entry road to the Association and for me, not terribly usable. I would say that most trophy buyers want a guest house, and there are a few spots here to add one. Fredensborg Hills Estates is gated and includes seven properties in the 5-6 acre range. These properties are on a shared well and the quarterly HOA fee includes water; this is a good deal. It is centrally located, near shopping and health services, yet feels “out there” with its spectacular views. The best of both worlds. It is also in the Ballard School District. Two of the properties here have sold recently, including 1240 Via Dinero, which closed at $1,600,000 and 1325 (and 1321 Via Dinero second legal residence), which is listed for $1,475,000 and is due to close in the next few days (good lord willin’…my listing). This new listing is certainly the most elegant and finely finished home of the three. It is listed at $2,475,000.

1390 Aqueduct Way: A Freestanding Home in an Upscale Condo Complex

This is a tasteful 2 bedroom/2 bath freestanding home in Mission Oaks, which is located off Alamo Pintado/Viborg. This is a gated complex with pool and clubhouse and appears to be extremely well maintained. This home has been updated, although the finishes to some extent are more common in mature homes. It has a small enclosed yard, covered patio and large wood deck with views…very nice feature. It appears to be well priced at $525,000, although the monthly condo fees are $640.00. Those fees, however, appear to cover all exterior maintenance including the area around the home.

215 Valhalla Dr: Where Orange County Meets the Santa Ynez Valley

The Village Collection is one of the newest developments in the Santa Ynez Valley and occupies an area just north of the Santa Ynez River and the Alisal. The homes have an Orange County look, impressive looking, and the hood has the clean, well cared for appeal. The homes on the rim also have some spectacular views of the Alisal Hills. This particular property is next to one of the few undeveloped parcels and is one of the largest parcels at nearly a half acre. The house is large and primarily beige and light. The kitchen opens into a spacious family room, there is no formal living room, but there is a den/library and a formal dining room. There are four bedrooms and 3 baths. As compared with other Village Collection properties, this one has little character, it has basic finishes, suggesting that it started out as a spec or track house. I don’t know this to be the case. Some of the finishes do date the home, although it is only about 15 years old. All that aside, this home could be dolled up and would be quite lovely. This property is priced at $980,000. It is actually the next parcel to 211 Valhalla, which just sold at $975,000 and is a beautiful custom home built by the builder for himself.  Then again, there is a new listing, 243 Valhalla, which is 10% smaller than 215, with what looks like basic finish work with some upgrades and it was just listed for $1,050,000…it might help with the sale of 215.

So that’s it for today…

If you want more detail on these properties, please do get in touch with me.

Doris Banchik-Moxley, Broker Associate, Sotheby’s International Realty  

About Doris and Contact

My First Dinner at SY Kitchen Was Great

As promised last Friday, although a day late, here is my report on my dinner at the new Santa Ynez restaurant, S Y Kitchen. If you missed my last post, you might check it out first.

Our wonderful Santa Ynez Valley has clearly become a highly desirable Southern California wine destination, which by all rights should be the precursor to a great food destination as well. With new restaurants like  SY Kitchen, we are getting closer to the latter.

I must say that before our Friday evening diner, I was very positively predisposed to this cool new dining spot, as reports from my foodie friends were very good. I went with my husband and another couple from the Walking M, so we got to experience an array of dishes, which was great. We started off at a less than perfect table, given several of us being HOH and in need of a relaxing evening…quite noisy in the front bar room. Without much ado and with exceptional attention from the Gordons (owners) and the Maitre d’, we were moved to the enclosed patio area, which was far better for us.

The service started with a bright bowl of crudites, including endive, red peppers, celery, carrots etc, and a wonderful herbed oil served in individual little bowls. ( I was told that one of the staff’s family makes and sells this oil in Italy…that might be a mangled factoid, but if it were available here, I would stock up). The vegetables were so fresh and tasted great. A bit later, we were served wonderful toasted bread individually. There was a light smokiness to mine, which I loved.

Our server, Alessio, was a bright spot in our evening, with a warmth and that special Italian charm. He is from Calabria. He is also a great fan of the restaurant and his colleagues, who he took the time to introduce. This was very impressive.

Alessio gave us the one page wine list, with limited selections from both Italy and the central coast. He also suggested we talk with the sommelier, a charming young woman trained in Italy. To my knowledge, this restaurant may be the first in Santa Ynez to have a sommelier, although several of our restaurants have wine saavy wait staff. We selected a Barolo, which was quite good and reasonably priced.

We ordered three first courses, included a shaved beet salad, a burrata salad with heirloom tomatoes and watermelon, and sauteed spinach. Each of these were very large and wonderful. I was surprised that the shaved beets had actually been cooked..they were delicious. I focused on the burrata salad, which was one of the best I have ever eaten. The ingredients were all fresh and the combination very balanced. Really great. My husband did not share his spinach, but said it was perfectly prepared.

For mains, we had four different dishes, including one amazing seafood pasta, one grilled char with beautiful vegetables, one pasta with duck ragu and one pasta with branzino, asparagus and mushrooms (mine). I only got to taste the char, which melted in my mouth. My dish was good, although I think the mushrooms might have overpowered the delicate branzino, which was served in bite sized pieces. I am a huge fan of branzino and have eaten it so many times in Italy. I hope that SY Kitchen will, over time, be expanding its fish entrees and perhaps serving it as they do in Venice, whole and roasted with a little olive oil. My husband thought the duck ragu was fabulous and our friends seemed to love the seafood pasta.

Pasta with Branzino, Asparagus and Mushrooms

Pasta with Duck Ragu

We finished dinner with Alessio’s suggested deserts: a tiramisu and a chocolate mascarpone “gelato”. Both were delish.

The Bottom Line: Great, Be Sure to Go

SY Kitchen is destined to become a Santa Ynez Valley “go to” restaurant. In fact, with reservations hard to get, it is there already. The staff was amazing, many hailing from Italy, including the chef and sous chef, who are brothers. The most outstanding aspect of the food was its freshness and the quality of the ingredients. For me, this is the bottom line. So welcome SY Kitchen…..see ya real soon.

For more information on this and other restaurants in our wonderful Santa Ynez Valley, please contact me.

Cheers!

Doris Banchik-Moxley, Broker Associate, Sotheby’s International Realty  

About Doris and Contact

Check Out These New Santa Ynez Valley Listings

2730 San Marcos

A Nice Choice in Coveted Los Olivos at $639,000.As you know, Los Olivos is one of the most desirable places to live in the Santa Ynez Valley. With its wine tasting rooms, restaurants, coffee houses and cool places to hang out, it has a good walking score and is very Valley. The Los Olivos School is also highly regarded, making the town very appealing to young families. For these reasons, property prices in Los Olivos tend to reflect a premium over Solvang, Santa Ynez and Buellton. This property offers a 4 bedroom home on a smallish parcel in one of the best locations in town. It is on the quiet cul de sac at the end of San Marcos. And a quiet spot in Los Olivos is harder to find than you might think. The home itself is fine, with basic finish work and good space. This property would be great as a second or primary home. And with the prices in Los Olivos rising faster than those in the rest of the SY Valley, the pickin’s in the $600k range may be slim by Summer. Please contact me to schedule a showing.

1619 Refugio Rd, Santa Ynez

Rolling Hills 5 Acre Ranch at $1,395,000.Its been quite awhile since we have seen a Rolling Hills property come to market. This is a very cool area accessed off N Refugio, but very much its own space with a cool, rural, ranchy feel. While I have not seen this property as yet, it appears to offer a lot, including a 3600 sq ft 4/4 home with separate guest quarter, a pool, a small horse barn, pastures, mountain views and neat topography. Seems like the whole package! The prices on five acre ranchettes have been on the rise, and some of the competing listings appear to be offering less. If you are considering a small ranch/farm, whether full time or not, you should have a look at this one. Please contact me to schedule a showing.

Rancho de Colores

Rancho de Colores, a Santa Ynez Valley Treasure Priced at $4,250,000.  This Cliff May designed 1945 Adobe property is as much a work of art and history as it is a very special residential estate. This 9.5 acre parcel is located off N Refugio, with a huge pasture in the front and the incredible adobe home about half way back. The previous owner took this home to new heights, bringing her artistic talent and love of the Mexican craft and culture to this genuine adobe home. Much of this appears to remain as per the photos. Great color and sophistocation. The property also includes a small guest house, a separate wine celler, a 6-stall adobe barn, a large workshop and a great entertaining area with pool. I am not doing this justice here. If you have the budget and a desire for a significant, enduring home, this one should not be missed. Please contact me to schedule a showing.

So that’s it for today. Wishing you a lovely weekend…

Cheers!

The Little Italian Farmhouse Opens in Santa Ynez….Welcome SY Kitchen

Photo courtesy of SYKitchen.com

For those followers of SantaYnezUncorked.com, you will remember my post a few weeks ago on the coming of SY Kitchen. Well it has opened with great reviews from some of the Santa Ynez Valleys’ foodies. As mentioned in my earlier post, this new eatery is located in a cool bungalow in the town of Santa Ynez. The owners are no strangers to successful restaurants as they own trendy Toscana in Brentwood.

The early reviews have been consistently GREAT. And the concept is perfect for the Santa Ynez Valley. Simple, fresh food that is wine friendly and reasonably priced.  All of the folks I spoke with had some kind of fish/seafood, including cioppino and pasta and branzino (my favorite fish). The early adopters said the food tasted very fresh, and despite the restaurants’ infancy, service was excellent. Bravo. There is an outside bar area which looks very comfy as well.

Photo courtesy of Yelp.

My husband and I will be going tomorrow evening, and I will get some photos and report back. I am very excited about this. If you would like to hear about my experience, please contact me and I will add you to my email list.

Make A Reservation

There is little information as yet online, however, you can reserve on Open Table and there are a few reviews on Yelp. I just checked and the earliest available reservation for tomorrow night is 8:30. That’s a very good sign.

Tomorrow’s post: Several Noteworthy New Santa Ynez Valley Listings

Check back then

Cheers!