Rare is the high-end property around here that sells for the initial asking price. The question is: how far does the number have to drop before someone bites? Here are the week’s top reductions….
After a change in brokers, 974 Park Lane (↓$200K to $3.795M) is back on the market at an improved price. Park Lane is one of the best streets in Montecito, and the views from the property are insane. But the situation here is quirky: The two-bedroom main house (the two photos directly above) needs a thorough renovation or even a total do-over, and the pool house/guest suite/art studio complex is across a ravine.
Boat-like 1558 Miramar Beach Lane (↓$600K to $5.25M) was first came on the market back in December for $6.1 million. The price is now looking pretty good for beachfront Montecito, even with such narrow rooms.
At the end of a private lane, 1387 School House Road (↓$445K to $3.95M) has a lot going for it, including five bedrooms, some cool lines, and Dutch doors. The demerits that I can see—having never visited the property—are the sunken lower level and the way the shared driveway passes right alongside the house on its way to the neighbor’s place.
If you know that everyone in your household is going to end up being in the same room all of the time anyway, you might like the three-bedroom 2203 Hudson Drive (↓$100K to $1.695M) on the Mesa; the kitchen, dining room, and living room are all in one small space. When you need to get out, the Mesa Lane Beach stairs are a short walk away.
Midcentury aficionados will like the top-floor, two-bedroom condo at 1344 Plaza de Sonadores (↓$200K to $1.85M), and the furniture can be bought separately. The price started at $2.195 back in May of 2019.