Last week’s sales….
734 EL RANCHO ROAD
Floops of a handsome spec reno near Hale Park; the seller paid $5.62 million in November 2024.
Listed: $6.15 million in September 2025, cut three times to $5.395 million.
Closed: $5.3 million.
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2140 VELOZ DRIVE
Single-level four-bedroom built in 1960 in the Montecito microneighborhood west of Romero Canyon Road.
Listed: $5.99 million in November 2025.
Closed: $5.75 million.
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1062 CAMINO DEL RETIRO
Snazzy spec reno of a 1964 four-bedroom (now with ADU) in Rancho San Antonio.
Listed: $4.995 million in June 2025, cut to $4.795 million after three months.
Closed: $4.675 million.
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744 MISSION CANYON ROAD
Off-market sale of 1982 four-bedroom on a flag lot below Foothill Road.
Listed: N/A.
Closed: $4.4 million.
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2211 WHITE AVENUE
Off-market sale of 1960 four-bedroom, two-bath just above Cliff Drive in Alta Mesa.
Listed: N/A.
Closed: $2.495 million.
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1192 EDWARD PLACE
1961 three-bedroom, two-bath on a cul-de-sac off N. Fairview Avenue in Goleta
Listed: $2.495 million in October 2025.
Closed: $2.275 million.
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2708 MONTROSE PLACE
Off-market sale of 1947 Cape Cod three-bedroom in Mission Canyon.
Listed: N/A.
Closed: $2.23 million.
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5208 CASITAS PASS ROAD
One-bedroom cabin on 28 acres (15 acres of which are avocado farm) between Carpinteria and Lake Casitas.
Listed: $4 million in June 2023, cut twice to $2.3 million.
Closed: $2.15 million.
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What is a Floop?
A floops is the listing of a property that was recently purchased, but unlike a flip, the goal is less about making a profit than getting out as whole as possible. (The reason for the listing—change of heart, divorce, relocation, health issues…—is irrelevant.) The word was coined after an agent got testy with me about using the term flip for a listing that wasn’t going to make money, and a reader suggested we call it a floops.
If never intended to be a flip maybe just oops 😬
And if it was intended to be a flip, but looks like a floops – is it a flop then?