••• The most interesting thing in the new issue of The Sentinel is, unsurprisingly, an ad: Carp Growers, an association of cannabis farmers is trying to get ahead of its own stink by promoting itself as good for local employment. Also, you can tour a pot farm by emailing [email protected].
••• The price of the 265-acre coastal parcel known as More Mesa, between Goleta and Hope Ranch, has been cut from $65 million to $50 million. There’s more info in this post on the development restrictions.
••• Below are a few intriguing takeaways from the Riskin Partners Q4 market report. Sign up on the firm’s website to receive the updates (which come with links to examples).
—”This year more than ever, we are seeing that today’s buyers are looking for move-in-ready homes. This trend towards instant gratification has largely divided the market into two types of sales: newly updated homes that sell quickly for top dollar or with multiple offers and more dated properties that tend to languish on the market and often appeal to value-driven buyers, or those with patience for a project.”
—”In 2019, Montecito had 43 sales over $5M; of those, 31 were professionally staged. Of the remaining 12, 11 were beautifully furnished with today’s modern look and feel. […] For sellers, there is a clear and replicable strategy that will attract the widest audience possible and help best position a property among its competition.”
—”Q4 in 2018 had 40 sales, 8% of which were over $5M (3/40). Q4 in 2019, 22% of Montecito sales were over $5M (13/61). […] While the under $5M segment of the market remains quite strong, we are seeing continued renewed strength in the upper segment of the market.”
••• Caltrans says it hopes to have the southbound 101 onramp at Turnpike Road, closed for a while because of a sinkhole, reopened by early February.
••• James Bond has evidently fallen on rough times.