Montecito Featured Listing: 145 Olive Mill Lane

Designed by acclaimed Santa Barbara architect Jeff Shelton, this Spanish-style home in Montecito awes with beautiful finishes and extraordinary attention to detail. Completed in 2009, 145 Olive Mill Lane is a structural masterpiece featuring soaring cathedral ceilings, custom windows and light fixtures, and a courtyard complete with a wood-burning fireplace and a fountain. This 3 bed, 3.5 bath home has approximately 2,500 square feet and includes a gourmet kitchen, a study, a workout room, and its very own bocce ball court.

Built with sustainability in mind, 145 Olive Mill Lane has solar power and a sustainable living landscape crafted by local landscape architect Isabelle Greene, who works with the area's native plants and local climate when designing gardens. Listed at $3,295,000, 145 Olive Mill Lane is a one-of-a-kind home perfect for buyers who appreciate construction and design. Check out the photos below for a look at this beautiful home.

Listed by Village Properties.

Not in MLS! Beachfront Condo w/ Panoramic Ocean Views

A “Perfect 10” in every way! Panoramic Ocean Views, beach front location and very close to Main Street shops & restaurants in downtown Ventura! 2 units have been seamlessly combined to create one large, impeccably remodeled light & bright residence. Features include 3 bedrooms, 3 bathrooms, 3 ocean view balconies, formal living & dining room with 2 fireplaces, generous kitchen with high end appliances, custom cabinetry, large center island, crown molding, wainscoting and in-unit laundry. Secure building with  4 reserved spaces in the underground gated parking and abundant storage. Address & Price Available Upon Request

Co-Listed with Kay Fields, BHHS

Rare Opportunity to Own "In-Town" Beach Bungalow

Originally built in 1915 by Donald and Margaret “Muddy” Miller, this historic Beach Bungalow has been thoroughly renovated and tastefully expanded with the help of famed architect Andy Neumann. Today, the property consists of a 3 bedroom/3 bathroom main house and a separately metered 1 bedroom/1 bathroom rental apartment atop the oversized 2-car garage.  This rare “in-town” offering is only 2-blocks to the sand and 3-blocks to downtown Linden Avenue.

The main house features large wood casement windows and light wood flooring, filling the space with natural light.  The ground floor encompasses 2 bedrooms/2 bathrooms, living room, kitchen with sit-at-bar, formal dining room, breakfast area, beautiful fireplace, custom bookshelves with reading nook and a laundry room.  The 2nd floor is a dedicated master suite with fireplace, large en-suite bathroom, walk-in closet and office nook.

Surrounded by palm trees and lush foliage, impressive grounds include a large front porch, decks, lush lawns, gardens, patios perfect for entertaining and a fully enclosed outdoor shower for when you come back from the beach!

The rental apartment is light and bright with an open floor plan embodying perfect scale of living, dining and kitchen.  Even the bedroom is surprisingly large, offering plenty of room for a king bed and desk/work station.  Features a private entrance, laundry room, expansive patio and extra space for storage.

Offered at $3,000,000

Address available upon request

Priced to Sell Fast! 284 Coronado Drive, Goleta CA

Just Listed! Check out this large, move-in-ready home in gorgeous Santa Barbara Shores neighborhood of Goleta! 1,848 squarefeet featuring 4bd/2ba +office, sparkling pool, fireplace, vaulted ceilings in master-suite & family room w/tons of natural light. Att. 2-car garage. Very close to the bluffs, beach & Butterfly Preserve. Close to world famous Bacara Resort & Spa, Sandpiper golf course, UCSB, schools and major shopping center. This beautiful home is priced to sell and won't last long!

Offered at $819,000

Open House Saturday from 2-4PM and Sunday 2-5PM!

See more photos at http://www.jakeralston.com/listing/just-listed-284-coronado-drive-goleta-ca/

Facts About #BuyingAHome

Some Highlights:

• 36% of Americans think they need a 20% down payment to buy a home. 44% of Millennials who purchased a home this year have put down less than 10%.
• 71% of loan applications were approved last month
• The average credit score of approved loans was 723 in September (the lowest recorded score since Ellie Mae began tracking in August 2011).

Designer Revamps Historic Santa Barbara Bungalow

Check out the November issue of Architectural Digest for an article on designer Madeline Stuart's impressive remodel of her historic Santa Barbara bungalow!

Santa Barbara's El Caserio, an alluring neighborhood known for its Spanish Colonial Revivals, arose in the 1930s as an artistic community and has been popular with artists ever since. Los Angeles-based interior designer Madeline Stuart first learned about the area when she and her husband thought about purchasing a Santa Barbara getaway. After visiting a beautiful El Caserio bungalow, Stuart immediately made an offer, and ended up with a new project.

Originally looking for a fun side task, Stuart quickly discovered that her new property had more issues than she had initially realized. Facing structural problems and questionable design choices, Casa Caserio underwent expensive renovations, including rerouting the entrance to the bedroom (which had originally meant walking through a bathroom) and designing all-new doors and windows that were still consistent with the authentic 1930s detailing.

Though costly and time-consuming, Stuart's hard work and dedication paid off. Featuring both modern accents and traditional Spanish charm, Stuart has transformed the historic bungalow while staying true to its Spanish Revival roots. Read the full article here and take a look at these stunning before and after photos!

Photos by Richard Powers / Architectural Digest.

Decorating With Nature

As the days become shorter and the light fades, we naturally want to hunker down indoors with cozy throws, hot drinks and good friends. And while shopping for new goodies to reflect the season can be fun, you don’t need to spend big to bring the look and feel of the turning seasons into your home. Here are 16 project ideas (most of them quick and ridiculously easy) that make use of whatever natural elements you have on hand, from found feathers to firewood.

Stage Your Home Like A Pro

Staging your home, the act of preparing your home to make it more appealing to potential buyers, can be highly beneficial. After all, first impressions are extremely important! The way your home is staged (or isn't) can help a potential buyer decide whether or not they can picture themselves in that home, and can be a make-it-or-break-it factor.

But is it always worth it to hire a professional stager? Today, there are companies that specialize in transforming homes in the most marketable way possible. However, staging can be quite expensive. Most realtors recommend hiring a professional stager when your sale price is at least $500K or higher.

Generally, there are certain small things that sellers can do themselves to appeal to potential buyers. If you are considering staging your own home, check out these helpful tips from actual real estate agents designed to give you the best return on your investment:

The First Impression is the Last Impression Porches and front entryways are the first things a potential buyer sees, and are considered the most important parts of staging. Make sure the front areas of your home are clean, welcoming, and visible from the street.

Remove Personal Items While your home may hold many special memories for you and your family, potential buyers are looking for a place to create their own! Remove personal items (like family photos) and replace with neutral decorations (like a city skyline) so buyers can see themselves in your home.

De-Clutter You have probably lived in your home for a while, so it's reasonable to expect your home to be full to the brim. Many agents suggest investing in a temporary storage unit and clearing space in your home, so the home appears more open and inviting to potential buyers.

Clean No one wants to buy something that looks dirty and used! After de-cluttering, consider hiring a service to deep clean your home (for instance, get your carpets washed or bleach your tub).

The Crown Jewel of Holmby Hills

Last week we were invited to attend the Inman Luxury Connect Welcome Party in Beverly Hills - essentially a huge mixer for luxury real estate agents from around the country. One of the best parts was that the event was held in the stunning Owlwood Estate, also known as the "Crown Jewel of Holmby Hills." This massive estate is currently represented by Douglas Elliman Real Estate and was last listed in 2012 by The Agency for a whopping $150 million!

Designed in 1936 by acclaimed Los Angeles architect Robert Farquhar, Owlwood Estate first opened in 1937, and has been home to big names ever since, including Joseph Schenck, the founder of the studio that would become 20th Century Fox, and Sonny and Cher Bono. Built in the Italian Renaissance style, the mansion boasts a total of 9 bedrooms and 12 bathrooms and is over 12,000 square feet. Originally one single residence, the estate now encompasses what were once three separate properties: the main house, porn producer Bill Osco's neighboring estate, and actress Jayne Mansfield's notorious "Pink Palace." Today, the estate consists of close to 10 acres of land in the beautiful Holmby Hills neighborhood, which is home to esteemed names and some of the most expensive homes in the world.

Private and luxurious, Owlwood Estate has had its share of prominent inhabitants from well-known celebrities to powerful magnates. Initially built for Florence Quinn, the ex-wife of real estate mogul Arthur Letts Jr., the mansion has since been home to Joseph Drown, the entrepreneur who converted Hotel Bel-Air into a hotel in the 1940s, Superior Oil founder William Keck, actor Tony Curtis, and even a possible arms dealer! The home is currently owned by Dawn Arnall, widow of subprime mortgage profiteer Roland Arnall.

Exploring the grounds of the Crown Jewel of Holmby Hills was definitely one of the highlights of the event - check out some of the images below of this Los Angeles treasure!

Where Will #HomePrices Be Next Year

Some interesting facts:

• 25 states are forecasted to achieve higher levels of appreciation in the next 12 months than already achieved in the last year.
• 25 state and the District of Columbia are forecasted to experience a slow in appreciation.
• All 50 states & D.C. are forecasted to achieve some level of positive price appreciation.

Even though each state is appreciating at different levels, you need to know the Cost of Waiting until next year to buy your dream home!

#NewHomeSales Surge

Some Highlights:

• The median price of a newly constructed home is currently $292,700.
• Sales are up 5.7% month-over-month and 21.6% year-over-year.
• Many buyers are looking to new homes as an option due to the lack of inventory of existing homes for sale.

#HomeEquity You May Have More Than You Think

CoreLogic recently released their 2015 2^nd Quarter Equity Report which revealed that 759,000 properties had regained equity in the last quarter. That means that 91% of all mortgaged properties (approximately 45.9 million) are now in a positive equity position. Anand Nallathambi, president and CEO of CoreLogic, reported:

“For much of the country, the negative equity epidemic is lifting. The biggest reason for this improvement has been the relentless rise in home prices over the past three years which reflects increasing money flows into housing and a lack of housing stock in many markets.”

Obviously, this is great news for the financial situation of many homeowners.

But, do they realize their equity position has changed?

A recent study by Fannie Mae suggests that many homeowners are unaware that their equity position has changed…in some cases dramatically. For example, their study showed that 23% of Americans still believe their home is in a negative equity position when, in actuality, only 9% of homes are in that position.

The study also revealed that, though 69% of homes had “significant equity” (greater than 20%), only 37% of Americans realize it.

This means that 32% of Americans with a mortgage fail to realize the opportune situation they are in. With a sizeable equity position, many homeowners could easily move into a housing situation that better meets their current needs (moving to a larger home or downsizing).

Fannie Mae spoke out on this issue in their report:

“Homeowners who underestimate their homes’ values not only underestimate their home equity, they also likely underestimate 1) how large a down payment they could make with their home equity, 2) their chances of qualifying for mortgages, and, therefore, 3) their opportunities for selling their current homes and for buying different homes.”

Bottom Line

Every homeowner should be aware of the true equity in their house and also realize the opportunities that go along with it. If you are unsure of the savings you currently have built up in your home, contact a real estate professional to help ascertain that number. You may be surprised.

CoreLogic recently released their 2015 2^nd Quarter Equity Report which revealed that 759,000 properties had regained equity in the last quarter. That means that 91% of allmortgaged properties (approximately 45.9 million) are now in a positive equity position. Anand Nallathambi, president and CEO of CoreLogic, reported:

“For much of the country, the negative equity epidemic is lifting. The biggest reason for this improvement has been the relentless rise in home prices over the past three years which reflects increasing money flows into housing and a lack of housing stock in many markets.”