The price cut of the week is undoubtedly at 1569 East Valley Road (↓$2.6M). I guess that’s what 464 days on the market will do…. The price is now $12.95 million, having started at $16.5 million. The 1930s house is still visible underneath the aggressively decorating, and you have to love that outdoor shower—not to mention how that the broker referred to the location as “in one of the most coveted area codes, on one of the most notorious streets.”
800 Cold Spring Road (↓$1.6M) might be worth looking at for the gate alone. From the listing: “Set on approximately 13.75-acres, this is the last remaining parcel of a magical garden oasis that has been in the same family since 1916. It was originally part of the beloved 70-acre Lolita Armour estate known as El Mirador, which loosely translates to ‘see in all directions.'” I’m not so sure about that, but whatever. Also, that’s Armour as in meat. “Today, you can cultivate your own piece of Montecito history with this exceptional jewel now available for the first time in over a century. The original two-story Mediterranean-style gate house was built in 1918 by Charles M. Urton, and offers 2 bedrooms, 1.5 baths, and approx. 1,904 sq. ft. of living space. There’s also an approx. 3-acre building site suited for a grand custom-designed estate with abundant private water, and stunning garden and Santa Ynez Mountain views.” It was listed in December for $15 million, reduced to $12.5 million six months later, and now at $10.9 million. There’s more about the history here.
The house at 956 Mariposa Lane (↓$700K) in Montecito was listed in July for $14.5 million, but the market seems to question whether that much improvement has been made. (The current owners paid $11.685 million in 2015.) Now it’s at $13.8 million. If the classic Don Nulty style is your thing, it’s worth a peek.
Likewise, fans of Europe, or at least Epcot, might be charmed by 808 San Ysidro Lane (↓$300K)—as much as I kid, the house is a very nice version of a very particular style. The house has been on the market for nearly a year now, and one imagines the sellers are getting antsy. It’s now at $5.95 million, down from the original $6.725 million. And if you’re having trouble with the paint choices, the Riskin Partners listing has a few digitally enhanced photos showing the interiors done in white.
118 Calle Bello (↓$100K) would benefit from the same digital whitewash—or just keep staring at those views. Now at $3.895 million, from the original $4.165 million.