Santa Ynez Real Estate Uncorked

Four Santa Ynez Valley 5-20 Acre Parcels for Sale Up to $600k Range

2013-06-12T22:08:05Z

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

Its Time To Consider Buying Land in the Santa Ynez Valley

Unimproved land has undoubted taken a worse beating than improved properties during the past five years. There are probably a number of good reasons, but the ones that seem most likely are:

1. Difficulty getting loans on land, and larger downpayment and higher rate requirements.

2. The prices of improved properties have fallen well below replacement value, making a land+build option much less attractive financially.

With Santa Ynez Valley real estate prices on the rise, I do think it is time for some Buyers to have a good look at land. Specifically, I am referring to Buyers who are in the pre-retirement stage with plans to move here in two to five years. This type of purchase will probably require more cash in now, but with the current prices of land, there is a high probability of this being a good investment in long term.

Four 5-20 Acre Santa Ynez Valley Land Listings in the $400k-700k Price Range

1775A Still Meadow Road, Solvang (Ballard area), Priced at $495,000

This 5.46 acre parcel is the first parcel on the right as you enter this Ballard Meadows Ranch, a tony subdivision of 5-9+ acre estates. The CC&Rs in this subdivision do include some architectural restrictions. This parcel does abut Baseline Avenue and the entry road to BMR. This property was initially listed in 2010 for $650,000 and was reduced in Jan 2013 to its current price. Want more information on this property? Contact me

Long Canyon, Woodstock Ranch, Santa Ynez, Priced at $580,000

This 20 acre parcel is located in the desirable Woodstock Ranch and is Bank-owned (foreclosure). Like many Woodstock parcels, development could involve adding approved roads on the property. This property has good views and is being offered at less than half of its listing price in 2010. It had been listed for $1,195,000 in Dec 2010. The current listing came on at $750,000 in Mar 2012 and was reduced to its current price in March 2013. Want more information on this property? Contact me

Calzada Ridge, Santa Ynez, Priced at $599,000

This five acre parcel is in the foothills area between Rancho Ynecita and Oak Trail Estates. It has a rural feel, yet is quite close to shopping etc. The parcel offers great views at the top and has two building sites, one at the top and one in its Valley off Calzada Road. Another advantage is that it as access from both Calzada Road and Calzada Ridge and is on a shared well with the adjacent property. There is no HOA. The usable acreage here is distinctly less than five acres but more than adequate for a good home and guest house/barn. Calzada Ridge (road) is in need of repair (at least to satisfy those who are not keen on driving over major potholes). Want more information on this property? Contact me

78 Linda Vista, Rancho Estates, Santa Ynez, Priced at $685,000

This fabulous 6 acre parcel is located in the highly desirable Rancho Estates and Happy Canyon with its amazing Figueroa Mountain views. The parcel appears to be highly usable, with just enough heft to provide for great views. This Association offers some of the cheapest water around and a rustic elegance. Properties in Rancho Estates have sold well up in the $2 mil range. This property appears to be fenced. It is sweet. Want more information on this property? Contact me

Information on Building in Santa Barbara County

There are many resources for building in Santa Barbara County. I suggest starting with SB Planning and Development Department.

I also work with a collection of great architects and builders who would be happy to answer your questions and meet you at a parcel of your choice.

So that’s it for today

Cheers!

Today’s Santa Ynez Valley Realtors’ Caravan: Great Downsizing Options

2013-06-11T22:01:04Z

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

Demand for Santa Ynez Valley Properties for “Downsizers” is Expected to Boom

Before reporting on today’s Realtor caravan, I wanted to reiterate a point I have made in several other posts. The demand for “downsizers” properties from both residents of the Santa Ynez Valley and elsewhere, is definitely on the rise. Downsizers already in the Santa Ynez Valley tend to be coming off 5-20 acre parcels and are looking for property in the 1/2 to 2 acre range with some privacy and views. The key for them is the reduction in maintenance and getting closer to town. For those coming from elsewhere, “downsizing” generally means a reduction in price from that of their current home. Since many come from more urban areas, such as Santa Barbara, Los Angeles, San Diego, San Francisco and beyond, these Buyers can trade down in price while getting a larger property for privacy and space. This group too, tends to gravitate towards the 1-3 acre properties.

Today’s Realtor Caravan Report

There were ten properties on the Santa Ynez Valley MLS tour today. I previewed five, but will comment on six in this report. I had seen one of the others during an earlier caravan.

Three Appealing Choices for Downsizers

991 Fredensborg Cyn Rd, Solvang, Priced at $1,395,000

This property would appeal to downsizers who want privacy, views and a house large enough to serve as a gathering spot for family and friends. The property is located at the end of a long road off Fredensborg Cyn. It is a beautiful drive in. The property, while over 4 acres, really has very little land, enough for a pool and entertaining. The remainder of the land falls down the hillside and across a valley of sorts. Long story short, there appears to be minimal maintenance and the benefit of privacy and huge views created by the “non usable” land. I think of it as a moat. The house is quite large, with some Danish architectural elements, such as the use of brick. There is ample space for entertaining on the first floor. The bedrooms, including a spacious master suite with big views, are all on the second floor, which can be a deal breaker for downsizers. However if all of this works, there is always the potential for an elevator. This property is in the coveted Ballard School district.

915 Rancho Alisal Dr, Solvang, Priced at $379,000

This is a lovely, largely updated home on nearly 2 acres in the beautiful Alisal Ranch. The homes in the Alisal Ranch are on leased land, which partially explains the pricing. Please contact me for details. This home is located towards the end of the road and has a partial view the golf course. It does feel quite private and wooded as it is surrounded by stands of oaks and other trees. The home takes advantage of the setting with many large windows. The entertaining areas have a warmth and include an open living room, family room and dining room. The kitchen is on the small side (by today’s standards) and can use some more counter space and cabinets. The lease on this property is currently $27,000 per year and is due to be reassessed in 2019. Please call me for details on this.

565 Rancho Alisal Dr, Solvang, Priced at $625,000

This is a fabulous Alisal property, with huge mountain views and a very large (3600 sq ft 3/4) house for the Alisal. The finish work is very compelling, a bit edgy, which means it may be a matter of taste. I loved it. The entertaining space is expansive, with living room (as above), open kitchen, loft, family room (sunken) and den/office. The three bedrooms are very spacious, all on the same side of the house. There are nice organic elements, such as stone and wood flooring that work beautifully with the amazing views. This is one of the most compelling homes I have seen in the Alisal, apart from the one that I will address later in the post. The gaggle of bedrooms might not be on everyone’s “must have” list. Then again, I suspect that the Buyers will be enjoying this great spot by themselves most of the time. The lease on this property is a low, $20,520 per year and it is due to be reassessed in 2016. The price on this property reflects the rising values in the Alisal. This is an interesting phenomenon, as the lease period is shrinking with each day. It may reflect the downsizing demand, as the Alisal is a perfect spot for that group. Want to know more about the Alisal Ranch and the leaseholds? Contact me.

The Grand Dame of The Alisal Ranch

3120 Three Springs Rd, Solvang, Priced at $1,875,000

This Alisal Ranch property is in a class by itself…just mind-blowing. For me it was the best representation of an extraordinary Santa Ynez Valley property that I have seen. There are too many elements to address here, so I will limit my remarks and suggest that you call me to discuss 805 588-3616. This property is accessed off a long, private road that gradually rises to a beautiful, country-club style campus with astonishing mountain views. The house is quite large, divided into many spaces that feel good and serve some purpose. The overall feeling is organic and romantic, which perfectly reflects the natural beauty of the Alisal. I am reminded of the Ahwahnee Hotel in Yosemite. While the latter is showing its age, the organic connection is still quite striking. And so it is with this home and this property. The listing agent said that there was a total of 7,000 sq ft, however the listing shows a bit over 4,000. This property provides for the ultimate Santa Ynez Valley experience. And this is reflected in its price. If you can swing it, you should see it. The lease is $36,000 per year and adjusts in 2019. Please contact me for details and to schedule a showing.

Speaking of Big Views….

2450 Latigo Drive, Los Olivos/Solvang, Priced at $1,794,500

I did not visit this property today as I have seen it previously and pretty much everyday; its my neighbors (if that is appropriate on 20 acre parcels). This Walking M property, located on the Los Olivos end of Ballard Canyon, has without doubt one of the most staggering views in the Santa Ynez Valley. And that is the story. The sellers bought this in auction many years ago and proceeded to complete a massive renovation. I recall seeing some stone laborers in the road chiseling the large stone pillars. The home is on three levels with extensive use of stone tile and iron. The most compelling feature is a huge wrap around deck that has the orchestra seats for the Valley. Wow. The property itself has very limited usability, with some land at the bottom (off Ballard Canyon) that might be used for cattle and other ag. But the big money here is the view. This property has been listed for quite some time, with a very gradual chipping away on price. Its time has come. For more information on this property or to schedule a showing, contact me.

And Then There is….

645 Chalk Hill, Solvang, Priced at $595,000

This 1994 home is located on Chalk Hill which connects the city of Solvang with Ballard Canyon. It is a great location, although being directly on Chalk Hill means some road noise. The 2 story floor plan included living areas on the first and bedrooms on the second. The first floor seemed to have a number of smaller spaces, as opposed to an open plan. The flooring looked to be laminate. The master bedroom was quite spacious, with a unique somewhat open bathroom. I believe the flooring was vinyl. One of the best features was the yard and pool. Please contact me for more details.

So that’s it for today.

You might have noted the new look of the website, which is being redesigned to be the most helpful Santa Ynez Valley real estate search tool. I welcome your thoughts and suggestions. In fact I would love them. This redesign is in process. Your thoughts and suggestions.Cheers!

Home Loans for Buyers Who Do Not Have Jobs With W-2′s? Yes

2013-06-07T21:05:23Z

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

Wealthy and Self Employed Buyers Have More Problems Getting Loans Than Some MacDonald’s Employees

Well this may be a bit of an overstatement, but the fact is that individuals with W-2′s do indeed seem to have a tougher time getting loans. Why? I am not a home loan expert, but it seems that with thousands of lenders out there, most of them use the same guidelines, those of FannyMae and FreddieMac. In other words, if you have one good loan broker who can’t make it happen, the chances of success with another is fairly slim. And these guidelines seem to be the Holy Grail..this is not Burger King my friends.

Here are just a few examples:

#1 is a Buyer whose net worth is $10-$15 million. He wants to buy a $395,000 home and get 70-75% financing. His income is strictly from investments and has been for 10 years. His returns are significantly higher than the current home loan rates, so he would rather borrow and use his cash for investment. Makes sense, right? Well the property he wants to buy will be rented to family member, and is deemed investment property by the home loan brokers. Ok. That means a higher rate, but it also means that we will be embarking on a month long search for the loan, which ended with a private fund that understood cash flow…cause this Buyer’s cash flow was extraordinary.

#2 is a Buyer whose net worth is approximately $3 million and is looking for a loan of $750,000 on a $1,100,000 purchase. Her income largely comes from investments as well as retirement related funds. She is divorced and has twin girls, aged 15 and two months. She can handily manage this loan. However, when the loan broker tried to cobble together an income package that would meet the FannyMae criteria, he found that he needed to use child support payments to make the cut. Well according to the Fanny guidelines, the only child support payments that would qualify are those that would be due for at least the next 36 month. Given the age of the twins, there would only be 34 months left, thus child support payments of $2,000 per month would not qualify. She did not get the loan..in fact three others. Eventually, she went to a mortgage banker with its own funds and she got the loan.

Four Home Loans For Self Employed and Substantial Net Worth (Assets) Buyers

At the Santa Ynez Valley MLS meeting this week, we had a panel of five local lenders speaking on various related topics and programs. One of speakers was Guy Rivera, with Guarantee Mortgage Corporation. Guy is no stranger to working with wealthy clients in a high priced market. He gave us some details on four home loans for Buyers who are either or both self-employed or have significant assets. Here are some of the details:

1. Depletion of Assets:

This is designed for a person with a high net worth, significant liquid assets and verifiable income. This is available for owner occupied properties up to 2 units and second homes.Here are a few if the details:

Maximum loan to value 80%
Min credit score of 720
Must have remaining liquid assets of $1.0 million after close.
Assets must be from personal accounts not business.
Cash reserves equal to 6 months principal, interest, taxes and insurance

Do you want more information on this type of loan? You can contact me or Guy Rivera.

2. Substantial Asset:

This is designed for a buyer who may not have verifiable income but does have verifiable assets. The Buyer can qualify based on the amount of their qualified asset reserves. This is available for owner occupied properties up to 2 units and second homes.Here are a few of the details:

Maximum loan to value 70%
NO verification of income and NO debt to income requirment
Minimum credit score 740
Business accounts are acceptable source with some limits
Cash reserves equal to the greater of $500,000 or loan amount

Do you want more information on this type of loan? You can contact me or Guy Rivera.

3. Bank Statement:

This is designed for a buyer who has been Self Employed for a minimum of 2 years and cannot document sufficient qualifying income from their federal tax returns. This buyer has personal or bank statements showing qualifying deposits and from which income is generated from self-employment. This is available for owner occupied properties up to 4 units, second homes and investment properties.

Maximum loan to value 70%
Maximum debt to income 45%
$3,500,000 maximum loan amount
Minimum credit score 720
Cash reserves requirements

Do you want more information on this type of loan? You can contact me or Guy Rivera.

4. 1 Year Tax Return:

This is designed for a buyer who has been self-employed for a minimum of 2 years and who cannot document sufficient qualifying income when using the past 2 years tax returns. The buyer is able to use only the higher net income from the most recent year to qualify under the 1 year tax return program. This is available for owner occupied properties up to 4 units, second homes and investment properties. Here are a few details:

Maximum loan to value of 70%
Maximum debt to income ratio of 45%
Loans to $3,500,000
Minimum credit score of 720
1 year tax return used for qualifying income
Cash reserve requirements

Do you want more information on this type of loan? You can contact me or Guy Rivera.

I guess where there is a will there is a way…but I must say that Realtor time spent finding and appeasing lenders has grown exponentially. The concerns of the lenders at times defy common sense or the laws of relevance. I am pleased to see these programs, as it is some indication that home loans are available for wealthy folks who can’t lose their jobs.

So that’s it folks!

Cheers!

This Weeks Santa Ynez Valley Realtors’ Caravan: Ranchettes

2013-06-11T20:29:41Z

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 5 Acre Ranchettes

This weeks Santa Ynez Valley’s Realtor Caravan (aka Broker Open) had a schedule of 5 properties. In that I had seen and reported on two fairly recently, I opted to visit three. Each of these were approximately 5 acres, and two were very duded out for horses. By “ranchette” I mean properties that can accommodate horses and are no larger than 10 acres.

What Does a Five Acre Property Cost in the Santa Ynez Valley? Five acre properties tend to have very broad appeal, in that they tend to offer the space, privacy and views that many Buyers want. Also, they tend to have enough usable land for horses, a small vineyard and other agricultural interests. The price range for improved 5 acre properties is quite broad, however many currently fall in the $1.5-$2.0 range. We saw at least two sell at or above $2.6 million at the end of 2012, and currently have one or two listed below a million.

1935 N Refugio, Santa Ynez, Priced at $1,699,000

This property is actually a flag parcel that is accessed off the road beside Rancho de Colores, the uber cool 10 acre ranch with hacienda described two weeks ago. This property has a broken-in horse property feel, with several pastures, paddocks, arenas (including dressage). There is a large RV barn and workshop as well. The home looks fairly unassuming outside, but has been extensively updated inside. The home is quite large, but doesn’t necessarily feel that way in any one place. This is probably related to spaces being converted or added on overtime, which often compromises the coherence of the floor plan. There are two master bedroom suites, the second was added or converted in this last round of remodeling. In a word, it is huge and opens out to a lovely pool and spa. It has a luxury feel on a property that is otherwise a working horse farm. So there is a yin and yang here. The property feels larger than 5 acres to me and does not seem to be adversely impacted by the three properties that encapsulates this flag parcel.

3790 Roblar Ave, Santa Ynez, Priced at $1,999,000

This five +/- acre ranchette also has a bit of yin and yang to it, in fact much more than 1935 N Refugio (above). It is located off Roblar, east of HWY 154 on the way to Happy Canyon. As you may know, that area is relatively flat (former farmland), devoid of trees (farmland) and enjoys great views of the San Rafael Mountains. For these reasons, it is a “go to” location for the horse set. This particular property has been extensively outfitted for horses, with pastures, paddocks, an 8 stall horse barn, arena etc. That part of the property feels broken-in horse farm as opposed to gentleman’s ranch. Then there is the area with house which looks more like something out of Palm Springs or a resort, with fountains, palm trees, an outdoor kitchen and great mountain views. It is quite luxurious. The house actually feels like many on equestrian properties with dark woods and minimal light. There are some special spaces, including a wine cellar, but overall its 1985 pedigree is still apparent. I think that with some lightening up, it would feel more current.

952 Alamo Pintado Road, Solvang, Priced at $1,400,000

What a difference a couple of hundred thousand makes. This five acre property is accessed off Alamo Pintado fairly closed to town (Solvang). The road to it is quite long and the Alamo Pintado traffic is long gone by time you reach the entrance to this property. Along the way you pass some serious agricultural properties complete with bunches of old equipment etc. The property feels fairly private and has a circular road that goes around the perimeter. The Realtors kind of figured this out as we did the dosey doe with the cars. Anyhow, we found a door into the home which was nicely finished, particularly the stone and tile work, although in its entirety, it lacked a particular personality. This property was more hilly than the two above, but there did appear to be room and a pasture that could be used for horses.

What did I think of these price differences?

So that’s it for today! Once again, sorry this is late.

Cheers!

Run 4 Beka: Ryan Riemer to Run from Los Olivos to Cambria for Blood Cancer Research

2013-05-31T21:42:51Z

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

I got a call Wednesday night from a friend and former colleague, who let me know that her son, Ryan Riemer, who I adore and worked with some years ago, was going to be running 100 miles this Saturday to support his wife, Beka, and the Leukemia and Lymphoma Society. Both Ryan and Beka were raised in the Santa Ynez Valley, which is reflected in their positive approach to life. This story goes back about four years ago and is best told by Ryan:

“For those who know me well, just by talking about the below subject matter is not only difficult for me, but something I rarely do. For me to do this publicly has taken me to a level of anxiousness that I’ve never experienced. My wife Beka was diagnosed with Chronic Myeloid Leukemia (CML) just over four years ago. At the time of her diagnoses, Beka and I were dating and I was living and working in Los Angeles while Beka was living and working in Santa Barbara. I received a phone call from Beka at 6:30am as I was arriving to work in Century City. She told me something was wrong and that I needed to drive up to Santa Barbara to meet her and her parent’s at the hospital. When I arrived at the hospital and they told me the diagnosis, I couldn’t process it. To say I was shocked by the news does not cover it, nor am I articulate enough to describe the tornado of emotions I felt at that time. I really didn’t know what Leukemia was except that it was a cancer of the blood and Beka’s grandmother had passed away from it the previous year, so I knew it was very serious and potentially life threatening. After the news, I politely dismissed myself from the conversation, walked out to the parking structure towards my car, and lost it. Several moments later I gathered myself and returned to the waiting room. Since that point, Beka and I have been at war with her own blood.”

The Run

I gather that Beka, who is a registered nurse, and a warm and wonderful young woman, has been actively involved in and a recipient of support from the Leukemia and Lymphoma Society. As a reflection of her efforts and bravery, she has been nominated for man and woman of the year by the LLS. And it is with this honor, that Ryan choose to do this 100 mile run. It also happens to start at the site where he met Beka, outside the former Tin Roof in Los Olivos. It will end at the Blue Dolphin in Cambria, where Ryan proposed. I think this is a wonderful statement about their love and devotion for each other. The run starts tomorrow morning.

Support

For those of you who want to support Ryan and Beka, you can do so at run4beka.com. I am frankly amazed at events that remind us of what is important.

Cheers!

Doris

Seven Santa Ynez Valley Properties with “Soul”

2013-05-30T23:26:47Z

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

The Most Important Factors in Santa Ynez Valley Home Purchases: Soul and Price

All too often Realtors find themselves with Buyers who decide to buy properties that have little to do with what they said they wanted. Having spent years with Buyers, I have come to understand that the decision is very fundamental and a very personal connection. Click!

I believe that properties with soul, or an essence, tend to create that feeling more strongly for the right Buyers. It is some magical combination of structures, finishes, design, land, views, and area that come together coherently, so that the whole is greater than the sum of its parts.

However, the final decision to buy most often includes an acceptable price, and it may be that some of the properties with soul are priced up for this special characteristic; it may also be that the Sellers of some properties with soul are more ambivalent about selling, thus a price that some won’t swallow.

Seven Santa Ynez Valley Properties that Have That “Something Special”

Please note that this collection reflects my character and is by no means an exhaustive list of Special Santa Ynez Valley properties. There are many others, but I have chosen these as picks from various price points. Its easy to get soul in a 5 million dollar property; it’s probably more fun to get it in a $750,000 property. Here ya go:

960 Old Calzada, Santa Ynez, Priced at $775,000

This property is accessed through a winding dirt road, an unexpected gem near the center of town. When you pass through the front gate, you experience something of Napa crossed with Provence, the warmth of a farm with understated elegance and taste that is not in your face. The combination of vineyard, raised vegetable beds and chicken coop contributes beautifully to the overall effect…what a treat on almost a half acre. Click here to request more information.

1253 Deer Trail Lane, Solvang, Priced at $1,083,000

One of the first things that signals soul is walking in this rather ordinary looking ranch house and being blown away by a fabulous living space with family room, huge kitchen, dining area with f/p and french doors to rear grounds. This space speaks so clearly to today’s life style, that many people can connect with it on the spot. It is very rare. The rear grounds, representing much of this one acre parcel, are actually on two levels, and are rimmed with a magnificent collection of oaks. The bottom level is something of a private hideaway, and currently has a rather tattered barn. Click here to request more information.

2983 Homestead Trail, Santa Ynez, Priced at $1,395,000.

This property is on a very low profile road off Refugio south of Mission Drive. Several of my fellow agents did not know where it was when the property was first listed. I think that is a good sign (about the property, not the Realtors). Anyway, this is a wonderful compound, with two farmhouse style homes situated at a right angle and articulating a corner of the quadrangle in the center of this one acre parcel. Each of these homes have have a special warmth, and work together visually and functionally. The opposite corner of the quadrangle, and accessed over a small bridge, is a dreamy raised outdoor deck, with gazebo, kitchen and stone fireplace. And behind it all are magnificent mountain views. I suppose the best way to capture the soul here is “romance”. Click here to request more information.

1283 Highland, Santa Ynez, Priced at $1,795,000

The soul in this property is understated elegance which emanates from every pore of the amazing farmhouse. It has a peace and reassurance that comes with quality and taste. It is about the warmth, a place that naturally brings together family and friends. It’s magic is subtly everywhere.

1781 Sky Drive, Santa Ynez, Priced at $2,150,000

This five acre property in the desirable Rancho Estates (Happy Canyon) enjoys 360 degree views of the magnificent San Rafael mountains, the ones that turn purple as the sun makes its way across the sky. The home is bespeaks elegance, with architectural details that draw one outside to beautifully landscaped grounds with walking paths and meditation benches. There is some very soothing in its soul, a special peacefulness. Click here to request more information.

1390 Via Dinero, Solvang, Priced at $2,475,000

While I have mentioned elegance in several other descriptions, it is on steroids in the opulent 6 acre estate. It has a special embracing formality and again, the lure of quality throughout the home. The grounds are elegant as well, a setting that might but does not have a croquet court. The soul does not demand that you dress for tea, or even have tea…it simply says that you made it. Click here to request more information.

So that’s it for today. I am off to the gym then for a drink.

Cheers!

This Week’s Santa Ynez Valley Realtors’ Caravan: Two Great Properties in $400k-$500k Range

2013-05-29T23:44:02Z

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

Two New Buellton Listings: Really Decked Out and Ready to Go

Its Tuesday and that means its the Santa Ynez Valley Realtor caravan once again. This week’s focused on Buellton and included three properties priced between $555,000 and $439,000. Since only two of these were new listings, I will report on these. One caveat, I really thought these were great and if you are looking for a cool home in a nice area in this price range, do not wait. Here are my remarks:

109 Nina Place, Buellton Priced at $439,000: This is a Real Bargain

This darling property was bought at auction in Jan 2013 for $231,000, and clearly had an extreme makeover. It appears as if nearly everything has been either replaced or spruced up, including tile flooring, the whole kitchen, baths, windows and doors, It feels very open and inviting, a good family floor plan with large living room, open kitchen, reasonable master suite and two additional bedroom. While on .14 acre, there is a good sized rear yard with pergola, large patio and artistic landscaping. It has a sophisticated look and is ready to go. I have no doubt that it will soon at this price. Looks like a win-win, except for the lenders/investors from the previous round. Do you want to see this property? Please call or text me at 805 588-3616 or email.

505 Mountain View, Buellton Priced at $555,000: Wonderful Designer Finishes

I was eager to see this home as a price tag of this magnitude in Meadow Ranch is not usual these days. Well I am here to say this is a beaut. In the remodel, a partial wall that separates the living from the family room was removed, creating a wonderful large great room with quality finishes. The kitchen was particularly compelling, and when I say chef’s kitchen, I mean it hear. There is a six burner Viking range, two ovens great counter space and fabulous granite. The 1700+ sq ft home, includes a den/fourth bedroom, a master suite with sliders to the rear yard and two additional bedrooms. The bathrooms are fine, but not necessarily at the same quality level as the general living areas. The rear yard in completely fenced and lovely. This corner property is located directly across the street from the wonderful park. The upside is a good place to run and walk a pooch. The downside may be regular weekend activities, sometimes including music and usually taking up parking on the street. I gather that Buellton’s gov’t is addressing this, but as of now, its a fact of life. Do you want to see this property? Please call or text me at 805 588-3616 or email.

So that’s it folks….

Cheers!

Zillow Zestimate® Errors in Santa Ynez Valley Real Estate Sales

2013-05-24T21:57:59Z

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

Are You Relying on Zillow for Valuing Santa Ynez Valley Property? Consider This..

I am frankly astonished at the number of clients, mine and other agents’, who take the Zillow Zestimate® as a real number. Yes again and again I hear Sellers pointing to the Zestimate® as a real value. And Buyers do the same. Of course these folks only invoke the sacred Zillow numbers when they are in their best interest. I understand. I am, however, baffled by the credibility granted to the Zillow numbers, when we know that the data used do not include anyone actually looking at the property. Therefore, there is no way to know what unpermitted improvements or deterioration has taken place. Zillow has no way of knowing if a property has that “WOW” factor, which is so critical to buying decisions. Zillow doesn’t know if there are offensive odors, a lot of traffic noise, dumps on either side…so on and so forth. Zillow does state that the Zestimate® is a starting point. But I am here to say, that is lost on many folks in the real estate market.

The reliability of Zillow Zestimate®s in the Santa Ynez Valley is probably lower than in areas where there are more and newer tracks or developments. Many of our tracks are older, and the differences from house to house can be staggering. To that, a lot of internal updating work, such as counters, appliances, flooring etc are not done by permit. So the differences in older track homes would be impossible to identify unless you saw the property. We also have a large number of custom homes, which makes com parables with neighboring properties much less reliable.

Zillow Zestimate Error Rates for Santa Ynez Valley Property Sales

There were 17 residential property sales that closed thus far this month (today is 5/24/2013). Of these 15 had Zestimates® that could be used in my chart below. The average error, either high or low in the Zestimates® was 12.5%, with a range of 2% off to 35% off (ouch). Twelve of the fifteen Zestimates® were off by over 5%. Ten of the fifteen Zestimates® were too low and five were too high. However, the errors in the high group were much greater. So when they tended to be too low most of the time, but when they were too high, they were really far off.

The Bottom Line: Do not treat Zillows’ Zestimates® as the gospel. There is no reliable substitute in our market for actually seeing a property and knowing the inventory. And for this reason, get yourself a Realtor to perform a Comparable Market Analysis.

If you would like to have assistance with valuing a Santa Ynez Valley property for sale or purchase, do not hesitate to get in touch with me. I am really pretty good at that. You can text or call me at 805 588-3616, or email.

I hope you have a great Memorial Day weekend. The weather in the Santa Ynez Valley could not be better. Get some baby backs at El Rancho, some great wine or beer and call it the beginning of Summer.

Cheers!

Address Sold	Listing Price	Selling Price	Zillow Zestimate	Zillow Error Too High	Zillow Error Too Low

1773 Laurel Ave	$350,000	$330,000	$303,755		-9%
479 Deer Canyon	$470,000	$470,000	$578,254	23%
960 Rancho Alisal	$489,000	$465,000	$567,690	22%
220 2nd St, Solvang	$410,000	$390,000	$380,748		-2%
390 Terrace	$425,000	$435,000	$401,639		-8%
478 Dairy Way	$440,000	$465,000	$444,241		-5%
1540 Viking Way	$779,900	$765,000	$717,396		-6%
1570 Oak St	$295,000	$281,000	$339,101	21%
221 Valley Station	$399,900	$400,000	$370,394		-7%
419 Glennora Way	$397,000	$425,250	$380,801		-10%
2621 San Marcos, Los Olivos	$615,000	$605,000	$628,874	4%
1948 Old Mill	$1,395,000	$1,395,000	$1,209,780		-13%
287 3rd Street	$599,000	$599,000	$468,278		-22%
1052 Cota	$289,000	$235,000	$315,909	35%
245 Meadowlark	$1,695,000	$1,650,000	$1,440,749		-13%

This Weeks’ Santa Ynez Valley Real Estate Caravan: Three Rare Properties

2013-05-23T00:03:05Z

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

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!

Santa Ynez Valley Real Estate Selling at Nearly 97% of Listing Price

2013-05-16T23:03:56Z

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

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!

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SantaYnezUncorked.com **is a leading resource for Santa Ynez Valley and Santa Barbara Co. real estate and lifestyle**

SantaYnezUncorked.com **is a leading resource for Santa Ynez Valley and Santa Barbara Co. real estate and lifestyle**

SantaYnezUncorked.com **is a leading resource for Santa Ynez Valley and Santa Barbara Co. real estate and lifestyle**

SantaYnezUncorked.com **is a leading resource for Santa Ynez Valley and Santa Barbara Co. real estate and lifestyle**

SantaYnezUncorked.com **is a leading resource for Santa Ynez Valley and Santa Barbara Co. real estate and lifestyle**

SantaYnezUncorked.com **is a leading resource for Santa Ynez Valley and Santa Barbara Co. real estate and lifestyle**

SantaYnezUncorked.com **is a leading resource for Santa Ynez Valley and Santa Barbara Co. real estate and lifestyle**

SantaYnezUncorked.com **is a leading resource for Santa Ynez Valley and Santa Barbara Co. real estate and lifestyle**

SantaYnezUncorked.com **is a leading resource for Santa Ynez Valley and Santa Barbara Co. real estate and lifestyle**

SantaYnezUncorked.com **is a leading resource for Santa Ynez Valley and Santa Barbara Co. real estate and lifestyle**