A note about price reductions. I have heard from several sources that price reductions are becoming more common and I want to address the reason why and when that might occur. Right now, we listing agents and sellers are trying to find the sweet spot between buyer tolerance and preserving as much money for the seller as we can. Its fine line. Buyer enthusiasm is so great that it's often hard to find just the right price right off the bat and sometimes we miss it by a margin. Consider a price reduction as a seller flirting with buyers until a suitor comes along. Versus leaving money on the table, I encourage all my sellers in the beginning to price just at the edge of acceptable in order to make sure they don't leave money on the table. That’s just good business. My job is to get the most money for my sellers as possible and to get the best deal possible for my buyers. So let's dispense with the stigma of price reductions as a bad thing and instead think of them as price negotiations. I consider it a win/win when both sellers and buyers are happy and nobody feels disenfranchised.
3112 Highway 246, Santa Ynez (2/1 on 3.5 acres) $1,500,000 This is near where the tribal manufactured housing is on highway 246 with the subject parcel directly abutting the highway. Likely you will recognize the big red barn if you drive by. House and barn closest to the highway with unused land behind it. This much land when flat and usable is surprisingly huge. The map overlay, which I have captioned here for you above, shows three contiguous lots - not just one (lots in sizes of 1.56 acre, 1 acre and .98 of an acre) with 1-E-1 zoning (residential). Next door is the 7.5 acre parcel that is proposed as the Golden Inn and Village. You can read an article about that by clicking here. City water to the site.
272 Riverview, Buellton (5/3 on .16 of an acre) 450K Narrative alludes to perhaps some TLC that is necessary. I can say this is the best floor plan in Meadowridge and so would be totally worth doing a makeover. Not the typical bowling alley design, this one has a lot more to offer in terms of open floor plan and innovative use of space. May need some TLC but with this Meadowridge neighborhood easily trending in the low to mid 5's for a turnkey property, the price is definitely taking condition into account. Got a little elbow grease to spare? It’s a good one. Sold in 2007 for 693K.
2045 Golpa, Solvang (4 acres, land only) 799K As you can see from the aerial map above, this lot is highly unusual and desirable due to its location abutting a vast amount of open space.
Back on the Market
Back on the Market
7003 Foxen, Los Olivos (multiple dwellings, 250 acres) $22,500,000 Went pending just on 7/18 but we see it back on the market today.
1715 N. Refugio, Santa Ynez (3/3 on 5 acres) Was $1,675,000 with a new price of $1,595,000. Not quite a 100K but close. Refugio location but well off the main road on a private drive with views from this vista location. Additional 2000 square foot storage barn is a nice perk. Bit of a sleeper. If you haven't seen it, you should at this new price. Started at $1,795,000 a year ago.
2557 Santa Barbara Ave., Los Olivos (4/4 on 6 acres) Was $2,450,00 with a new price of $2,295,000. Dramatic location. SB Ave address but located well off the main road on an extremely private and little traveled drive to this dramatic site. A highly unusual yet tasteful home with a downstairs suite of rooms that lend themselves very well to extended family, guests or live in help. Impeccable grounds. Very desirable location.
1615 Elm, Solvang (2/1 on .17 of an acre) Was $499,500 with a new price of 485K. I usually don't report on small price reductions but this house is so cute, I want to make sure you take note. Also, this is the second price reduction as the original price was 529K. House is remodeled and spic and span. Small studio out back adds value. Just a couple of doors down from my listing at 1627 Elm priced at 405K which is currently in escrow.
1459 Remington, Santa Ynez (3/2 on 1 acre) 719K Newer house with 2006 construction. Current dwelling meant to be guest house but is nice enough for full time living. Most of the land left available for a main house or for your furry friends.
203 Vester Sted, Solvang (4/2 on .27 of an acre) 629K Redone and reinvented. A fresh take on a 1989 built home. Done but not over done. Very fresh on a good sized lot. Nyborg Estates has an HOA fee of $150 per quarter.
1328 Cimarron, Santa Ynez (4/2 on .46 of an acre) 689K College Estates is a convenient neighborhood of homes mostly on half an acre or more. Good sized homes, close to schools. This one a semi open floor plan and big open kitchen.
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President SYV Association of Realtors 2013
Prudential CA Realty
P.O. Box 778
Los Olivos CA 93441