NEWS ROUNDUP
••• Montecito Water District approves big desalination deal.
••• Lucky’s steakhouse has temporarily closed after an employee tested positive for Covid-19.
••• The Montecito Association burns down the welcome wagon.
••• Westside street closure.
••• Deadline extended for comments about Los Padres National Forest tree-cutting.
→ Read the post.
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HOT PROPERTY
Look no further for proof that the market is moving: six closings from the past few days, for houses that are turnkey and not, from Toro Canyon to Hope Ranch.
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ODDS & ENDS
••• Nail salons are allowed to reopen.
••• The city’s parking lots and garages are charging again.
••• Funk Zone vacant lot changes hands.
••• Parts of Santa Cruz Island closed for restoration after fire.
••• How to create a clean-air room.
→ Read the post.
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PRICE CUTS
The week’s top price changes: New age compound above Summerland is back for $1 million more; 11-acre teardown with ocean views; the worst of the 1980s on Sea Cliff; suburban exterior with stylish interior in Ennisbrook; cute old Spanish house downtown.
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Recent Comments
The bigger factor is that if an owner accepted lower (aka "market") rent, it would reduce the overall value of the property on paper. Which,… — Sean
Rich - No. They get the depreciation regardless of whether it's leased or vacant. — Jefferson A.
Depreciation. — Rich
Apzer, can you please direct me to the IRS rule where i can deduct rental losses? i have never heard of such a thing, and… — Derek
The "pedestrian mall" along state street is more like an e-bike tournament venue — Bettye Jones
Apzer, that is totally false on landlords receiving a financial benefit for vacant properties. Please don't spread misinformation. — Jefferson A.
I don't think they're all greedy but there's a financial benefit to claim a loss on a vacant property while holding out for someone to… — apzer
“More vibrant than ever”? We can debate the causes but it is a far cry from the most vibrant it’s ever been… — BW
“Editor's note: This story has been updated to clarify the action taken by the City Council and its next steps” The VC Star Article was… — Tristen
From the article, it seems like it's not a done deal, but yes, it would be a terrible loss for Ventura. A good reminder for… — Sean