Santa Barbara Luxury Real Estate – Opportunity Knocks!!!! The Santa Barbara luxury real estate market has not been as vibrant as the Santa Barbara real estate market at the lower end. Two recent sales demonstrate the opportunities available in the Santa Barbara luxury real estate market. A newly built home in Santa Barbara – Montecito was listed in the Spring of 2010 at $35,000,000. It just closed escrow at $12,900,000. An incredible 63% discount!
Another home purchased by a famous Hollywood star at the end of 2009 for $6,900,000. was listed for sale at $7,500,000., and just closed escrow at $6,350,000. The Hollywood star lost $550,000. in the sale.
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