Rare is the high-end property around here that sells for the initial asking price (at least before the Covid-19 bump in Montecito). The question is: how far does the number have to drop before someone bites? Here are the week’s top reductions….
Well, that did it: The $250K reduction at 618 Hot Springs Road (↓$250K to $4.5M) was enough to entice a buyer, and the property is now pending. When the midcentury house was listed at just under $6 million a year ago, there were interior photos, but with no takers at that price, the emphasis recently shifted to tearing it down and starting fresh. To wit, there’s now a conceptual design by Studio William Hefner that makes much better use of the two-acre lot (on half of which you can’t build anything bigger than 800 square feet).
810 Buena Vista Drive (↓$1M to $8.95M) needs a lot of new surfaces, but the views are splendid and the house is nearly 10,000 square feet.
758 Via Manana (↓$180K to $4.595M) seems like a decent deal, if you don’t mind the whiff of suburbia in the kitchen area. No pool and no guesthouse, but the trailhead is just up the street. (Note: I mistakenly included this in Thursday’s New Listings post, when it’s actually a price-chop.)
More great views at 2121 Summerland Heights Lane (↓$151K to $2.699M), with some freeway noise because you’re much closer to the ocean. As for the house, it’s in nice shape. Note that you share a motor court with your next-door neighbor in the development.
I can’t abide the glass brick, but other elements of 1157 Camino del Rio (↓$100K to $2.49M)—the Cubist roof line, the sunny terrace, the view over San Antonio Creek Park—are intriguing.