How to Do Well In a Drought

California is dry, and thirsty. Perhaps the driest and most thirsty the state has been in a century. With the state recently declaring the situation a "drought emergency," we wanted to educate our readers on the benefits of owning a home with a private well.

A luxurious Montecito estate

Firstly, and most appropriately, private wells are often excluded from municipal water bans. During times of drought or water conservation, a private well would allow homeowners to continue with their normal water usage and lifestyle, experiencing limited interruptions.

Secondly, and possibly more importantly, is the absence of a water bill. Drawing the water directly from the ground, rather than being tracked by a meter, allows homeowners to rid themselves of water bills every month or, if well water is used only for landscape or agriculture, would significantly reduce the amount paid each month for municipal water.

Below indulge in some real estate eye candy. These luxury properties all include private wells.

An expansive French Provincial estate in Montecito with ocean and mountain views.

690 Picacho Lane, Montecito, Ca

Offered at $27,000,000

9 acres with orchards, vegetable gardens and lake

Private well

Riskin Associates, 805.565.8600 or associates@riskinproperties.com

Ocean view Mediterranean estate in montecito, ca

588 Freehaven Drive, Montecito, Ca

Offered at $14,900,000

Approx. 20 ocean and mountain-view acres

Private well

Riskin Associates, 805.565.8600 or associates@riskinproperties.com

1140 East Mountain Drive, Montecito, Ca

Offered at 9,875,000

6 acres with manicured rose gardens, lush lawns and oak trees

Shared private irrigation well

Riskin Associates, 805.565.8600 or associates@riskinproperties.com

What's Happening in Santa Barbara?

It's nearly impossible to decide on the best aspect of living in the Santa Barbara area. Ideal weather with year round sun and temperate temperatures, a culinary wonderland of fresh, inventive flavors paired with the region's award winning wines, vast sandy beaches nestled against the Santa Ynez Mountain's hiking trails or the numerous cultural community events which throughout the year bring visitors and locals alike into the streets to celebrate Santa Barbara's rich history and modern lifestyle. Fortunately, being a resident of this fantastic locale allows for the enjoyment of each of these pleasures and the countless others waiting to be discovered.

This month, our town is bustling with excitement as the Santa Barbara International Film Festival approaches! The world renowned festival brings hollywood heavyweights up from LA to a warm welcome of Santa Barbara-style events. Take a look at a sampling of this month's events and get in on the action. (Note: when planning your attendances, please note that the average temperature in Santa Barbara during the month of January is 64 degrees and this week's forecast puts our temperatures in the high 70's all week. Just saying.)

January 16th: Meet the Masters, Miro Restaurant - Bacara Resort. Enjoy an intimate dining experience that offers culinary enthusiasts the rare opportunity to dine with Master Sommeliers from across the globe who share a proven mastery in the art and science of wine and spirit pairing.

January 19th-26th: Santa Ynez Valley Restaurant Week. Restaurants throughout the Santa Ynez Valley are offering special 3-course tasting menus for the price of $20.14

January 21st: New Year Modern with the Santa Barbara Chamber Orchestra. Celebrate the beginning of 2014 with SBCO at New Year Modern and dive into the world of modern music! This concert features contemporary works of the 20th century and Appalachian Spring performed as a ballet.

January 30th-February 9th: Santa Barbara International Film Festival. The Santa Barbara International Film Festival (SBIFF), announces its highly-anticipated line-up for 2014. The 29th edition offers a vast array of films representing 60 countries and a rich selection of films sure to delight audiences from all reaches of the globe. SBIFF is proud to welcome many promising and established filmmakers, as well as honorees to join in its grand tradition of celebrating independent film.

January 30th-February 9th: Film Feast. Libations, cuisine, APPETITE! The original lights of Hollywood are shining brighter than ever, as Santa Barbara goes to the movies for a performance your taste buds will never forget. For eleven straight days, Film Feast 2014 is your invitation to explore the best plates and pours throughout Santa Barbara's many theatre districts during the Santa Barbara International Film Festival. If something is made here, it's just a little more special, more flavorful, more memorable. This is where the greatest things come together. Ocean meets mountains. Sunny meets year-round. The good life meets the great life. This isn’t the end but actually just the beginning. Take a walk down the red carpet to savor the flavors made in Santa Barbara during Film Feast 2014.

For further information on Santa Barbara's seemingly endless entertainment offerings, visit SantaBarbaraCa.com. Additionally, we invite you back each month the find out what's going on around town.

The Negative Impact of Celebrity on Real Estate

A Santa Barbara Ocean view estate.

Modern media revolves around celebrity and the personal lives of high-profile individuals, and is no different for the buying and selling of residential real estate. The media loves to know when a public figure is listing their property or in negotiations for purchasing a new abode. And as is usual in the world of celebrities, the more the media wants to know, the less they are willing to share. Celebrities go to great lengths in order to protect the privacy of their personal lives and their homes as possible, and as an article by MainStreet.com argues, often to the detriment of future resale values. The article discusses several elements that celebrities find attractive in their homes, but can be too personal for future buyers to identify with.

While exposing the name of a famous owner can get a listing extended exposure, a dream come true from a marketing standpoint, a well-known listing can also be seen as a negative by some high-end buyers. A buyer may not want to purchase a home which has gotten a lot of press due to a well-known seller being attached to the property. This also goes for high-rise apartment complexes and gated communities. Having a high-profile neighbor attracting paparazzi attention may be a negative attribute of a home or apartment driving buyers away.

Customization of a home, while usually a huge selling point, can often be overdone by celebrities making the home too personal to them, making it difficult for buyers to see themselves living in a home. While a star athlete may want an indoor sport court with their jersey number splashed across the court, or a young movie star may love the idea of a private bowling alley in their own home, a buyer may find these amenities disarming and be off-put by the home as a result.

While celebrity and fame do have positive attributes for real estate from a marketing standpoint, often the attention this garners can be viewed as negative to buyers.

Five Forces Behind the Luxury Real Estate Boom

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As 2013 comes to a close, The Financial Times reflects on five reasons the luxury real estate market has seen a promising upswing over the last 12 months. Compared to the U.S. as a whole, the luxury market has experienced a superior recovery from the housing market bust with home prices in the top 5% increasing by as much as 10% since September of 2012 while the other 95% increased 6% over the same time frame. Read on to find out what has fueled this healthy boost in the luxury market.

• The increase in wealth. While everyone the world over is rejoicing in the recovering U.S. economic conditions, high-net-worth individuals are doing a decidedly more vigorous celebration dance. Recent data has revealed that the top 1% of households by income has captured 95% of the income gains between 2009-2012. Larger stock portfolios held by these high income individuals have benefitted from a booming stock market. The wealthy are searching for homes to fit their lavish lifestyle and are less likely to let interest rate increases dissuade their buying choices. In addition to these staggering numbers, the remaining 90% of the country has experienced fallen incomes by 16%.
• Affordable (Oversized) mortgages.   It's no secret that cash is king in the luxury real estate market, but when a mortgage is needed, they are accessible at historically low rates. Larger loans (usually $625,000 in high-cost areas) were generally more expensive and had stricter requirements than conforming loans, but recently have become more in line with conforming loans in terms of affordability and screening requirements. Another factor is the tax break, interest on loans can be written off up to $1M.
• Foreign buyers. The media has been reporting a sharp increase in purchases by foreign buyers. From Europeans to Asians, buyers are coming in from outside the U.S. with a sense of urgency to buy. Metropolitan cities like Miami, L.A. and Honolulu have seen the largest upswing in purchases by foreign buyers.
• New construction is back. For several years after the market downturn, new construction of luxury properties was virtually nonexistent. But contractors are getting back in the game as inventory continues to stay low despite an ever increasing demand. The country's largest builder of luxury homes, Toll Brothers, have increased signed contracts by 23% in dollars and 6% in units in the fiscal fourth quarter. Co-founder of Toll Brothers Robert I. Tolls discusses the current state of the luxury home building market and it's relationship to the overall luxury real estate market, "The supply of luxury homes is still not meeting current demand, let alone the pent-up demand of the last seven years. This supply constraint could lead to a further escalation in luxury home prices above and beyond normal trends until industry production returns to historic equilibrium.”
• Existing homeowners are trading up. First-time homebuyers are not the sector fueling the increase in luxury home market increase - existing homeowners are coming up from beneath the water, now having the ability to sell their homes and move to larger, more expensive residences. According to The Financial Times article, more than 85% of homeowners with a mortgage in the second quarter have some equity in their homes, this number up from 75% in 2011. Low inventory is allowing trade-up buyers an easier time selling their current home.

All Is Calm, All Is Bright! The Lady's Gift Guide

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Forget the sugarplums, visions of jewels and dresses are dancing in her head this holiday! The glittering season calls for sparkling attire and a fresh, rejuvenated spirit. But fret not, we have scoured Montecito compiling a list of the most luxurious and stylish gifts certain to enchant the women in your life. Read on to take the guesswork out of shopping for your ladylove's holiday gift.

1. Parker EXCLUSIVE.Let her shine at every holiday soiree in this glittering Parker EXCLUSIVE Racerback Sequin Dress ($398). Montecito's newest boutique INTERMIX in the Country Mart carries the dazzling cocktail dress and a plethora of  designer apparel and accessories.

2. Echoz Crystals. The earth's healing energy and chic style combine in these designs by Echoz Crystals. Echoz Crystals necklaces are designed with simplicity and elegance, each necklace is uniquely and carefully handcrafted. The crystal pendants create a bold statement, trumping the need for other pieces of jewelry. With a fantastic price point (necklaces start at just $30) you can gift your girl a collection of these beautiful, metaphysical pieces.

3. Antik Batik. An unique piece inspired by the designer's global travels, this Mirrored Ale Wallet by Antik Batik ($325) is sure to be appreciated by your lady all year round. Intricate embroidery and beadwork applied to exquisite leather create a piece both refined and relaxed. Visit Calypso St. Barth in the Montecito Country Mart to admire this remarkable clutch.

4. EVE LOM. Give the gift of beauty this year with EVE LOM's Ultimate Collection ($275). Montecito Country Mart's SPACE.NK.apothecary carries this luxurious set which includes an array of products designed to enhance her natural beauty.

5. Montecito Yoga. Inner peace is a priceless present, but you can help her find it with a year of unlimited yoga sessions at Montecito Yoga ($1700). Class schedules are flexible, accommodating those who enjoy morning and evening sessions.

This wraps up our holiday gift guides for 2013! It has been yet another year of working with fantastic clients and lovely agents. Riskin Associates wishes all a joyous holiday and a wonderful new year!

Holiday Gift Guide: The Gentleman's Wishlist

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Looking to impress the man in your life with the IT gift of the year? Fear not as 2013 did not disappoint, with a list of exclusive gifts and gadgets from luxury electronics to designer accessories certain to delight the most distinguished gentleman! Read on to find the area's most lusted-after wishlist.

1. Sonos Wireless Music System.Santa Barbara electronics company Sonos has quickly become a household name with its line-up of high-tech sound systems. Hifi speakers and audio components distribute your music collection throughout the home, allowing you to create a unique atmosphere for each room by customizing the soundtrack - controlling the entire system from your preferred device. Find it at Santa Barbara's Home Integrated Technology. (Play:5+Bridge Gift Pack, $399).

2. Louis Vuitton Steeve Men's Bag.Louis Vuitton's coveted trademark checkerboard design adorns this stylish and functional men's bag. For business or pleasure, the versatile bag holds all the important possessions to take your man from the boardroom to the gym and from the gym to dinner without a stop in between. Find this fashionable gift at La Cumbre Plaza's Louis Vuitton boutique. (Steeve Men's Bag, $2,600)

3. Taka Puna Bespoke Suits. Luxury menswear designer Tom Ford made 2013 the official year of men's made to measure suits. Custom made suits in crafted in the finest textiles is the ultimate in luxury gift giving. Make your man the eye candy of every holiday soiree by outfitting him in a tailor made suit by Santa Barbara's premier bespoke tailor, Taka Puna. (Starting at $1,950).

4. Breaking Bad - Complete Series. Breaking Bad, the men's entertainment obsession of the year. Did your man miss out on the action? Is your TiVo backlogged with saved episodes he watches over and over? Remedy these tragedies with one easy gift - the complete series DVD gift set. Find it on Amazon.com. (New from $470)

5. Burberry The Britain.  Owning a fine timepiece is a symbol of accomplishment and status. Shower the gentleman in your life with praise and show your appreciation for the hard work he puts in all year. The Burberry Automatic Alligator Strap watch is a modern take on the classic Burberry design. Find it at Nordstrom in Santa Barbara's Paseo Nuevo. ($1,995)

Deck The Halls!

Hostess Gifts that Won't Disappoint!

Looking for that perfect host gift? We've got you covered. Santa Barbara and Montecito are riddled with shops bearing luxurious, one-of-a-kind trinkets sure to dazzle your next host or hostess and we've compiled of list of unique treasures ideal for gift giving!!

1. Brunello Cucinelli Cashmere Blanket. Saks Fifth Avenue brings you this cozy, italian made throw which just so happens to come in a gift-wrap friendly box. ($1,235) 

2. Tiffany Holiday Teapot. Known only for classic and sophisticated designs, Tiffany & Co.'s Victorian inspired porcelain pot is just the centerpiece to a lovely tea set. ($255)

3. Rusack Winery. While anyone can grab a bottle of two-buck chuck from their local grocer, a sophisticated host will take notice when you present them with a high-quality wine. Order a case of a fine Rusack vintage and bring a bottle to every soiree to attend. They'll be sure to send out your invitation next year. (Various selections.)

4. Baies Figuier Roses Candle Collection. One might consider the newest addition to the Montecito Country Mart, SPACE.NK.apothecary, a one-stop-shop when it comes to host gifts. Filled to the brim with luxurious bath and body items for the ladies and the gents, the space (natch) is also our go-to for it's most delightful scented candles. When it comes to an impressive yet inexpensive host gift, this rose trio from Baies Figuier is a no-brainer. ($84)

5. Golondrina Candelabra by Jan Barboglio. Unique in both style and quality, this five-tier candelabra it set upon an aged stone base. We dare you to find another quite like it. ($650)

Yes, we give you permission to fall so deeply in love with these items, you can do nothing but deck the halls of your own home with them! Happy Holidays!

Attention Sellers!

As Riskin Associates, ocean-view estate in Montecito

The world of residential real estate, especially at the luxury level, can often be a myriad of complex processes which can be difficult to navigate. Additionally, even the smallest of hiccups can cause a deal to fall through. For this reason, it is important to work with an experienced agent or team who has the knowledge to weather any procedural storm. Educating both buyers and sellers on each step of the escrow process - and what's involved - is key to a smooth transaction.

Today, Forbes brings to the table three issues which are regular culprits of a crumbled deal. Understanding why they cause problems and how to avoid them can make or break a seller's deal.

• Financing. "Back in the day" almost anyone could obtain a loan, however much of that ideology has changed and it is more important than ever for seller's to require a letter of pre-approval from the buyer. But keep in mind, this letter doesn't guarantee that a buyer will get the loan to buy your house. So, as usual, cash is king!
• Appraisals. Thanks to foreclosures and short sales skewing comps, home appraisals are coming in at significantly lower figures than in the past. How is this a threat to your deal you ask? The answer circles back to our friends the financiers. Lenders will not loan more than a house has been appraised for, meaning that if your house is appraised for lower than the asking or accepted offer price, a buyer requiring financing will not be able to obtain a loan for the required amount - thus taking their offer off the table or requiring the seller to accept a lower offer.
• Timing. Delaying buyers access to their new home is an overwhelming cause for deal abandonment. Banking, repairs, or lengthy close of escrow can all deter a buyer from moving forward with a deal. It is important to foresee any possible delays before entering escrow to ensure the best probability of closing the deal.

Whether you are a first time seller, or experienced in the process, understand that each deal is unique and presents its own set of potential issues. Taking great care in financial, home and personal preparations, as well as working with an experienced agent, will ensure that the sale of your home is as headache-free as it can possibly be.

Featured Property of the Week: A Stunning Ocean View Estate

This week, our featured property is defined by the unparalleled views and bright, inviting interiors. 

588Freehaven_BalconyView

Commanding a serene hilltop, this magnificent Montecito estate offers unrivaled panoramic ocean and mountain views, while approximately 20 acres provides uninterrupted privacy. This sprawling 12,000+/- square foot residence exemplifies Montecito’s casually luxurious tenor with inspiring architectural elements, elegant finishes and breathtaking views gracing each bright and airy room.

588Freehaven_TwilExt_

Stepping into the gracious foyer, a sweeping ocean view is the focal point while a spiraling iron-railed staircase hints at the home’s upper and lower levels. Bathed in natural light, the airy formal living room enjoys a generous, pitched beamed ceiling, an expansive ocean-view picture window and two sets of French doors leading to an outdoor patio and the beckoning grounds. A pair of iron chandeliers and a grand limestone fireplace create an elegant atmosphere.

588Freehaven_LivingRoom

Privately set behind a set of double doors, the sumptuous master suite is a feast for the senses. Immediately upon entering, a sweeping ocean view is the centerpiece to room, enjoyed through a set of French doors opening to a private terrace, which rests beneath a charming vine-covered trellis, and a private coastal-view spa. With two bounteous walk-in closets, an ensuite bath with an impressive walk-in steam shower, oversized air-jet soaking tub and an ocean view, the impeccable master suite is a spa-like retreat.

588Freehaven_NewMaster

The home’s lower level encompasses what can only be described as a truly great room. Ideal for a media or game room, the expansive area boasts an incredible 3,000 bottle temperature-controlled wine cellar and a full wet bar, an impressive fireplace and custom-built bookcases, a full bathroom and abundant storage. A wall of French doors open to an outdoor dining room, a tranquil fountain and views of the property’s gardens.

588Freehaven_WineCellar

Outside, the lush grounds are a fragrant medley of rosemary and wildflower beds. Stone paths encircle a trickling fountain and wind through lush lawns, leading to the sparkling pool. For additional privacy, a spectacular guest house enjoys ocean and mountain views and offers one bedroom with a full ensuite bathroom, a living room and kitchenette, and a charming pitched beamed ceiling.

588Freehaven_NewPoolView

With vast Pacific Ocean views, beautifully appointed indoor and outdoor living spaces and opulent grounds, this expansive Mediterranean estate provides the utmost in Montecito living.

Can't get enough of this quintessential Montecito estate? Check out more photos and details or contact Riskin Associates at 805.565.8600 or associates@riskinproperties.com.

Featured Property of the Week: A Pristine Oasis in Hope Ranch

Out Featured Property of the Week is defined by pristine interior spaces, welcoming sophisticated entertaining while breathtaking grounds beckon the seemingly endless summer that it's coveted location enjoys. Behind an impressive set of entry gates, a spacious drive circles a pond at the port cochere. The commanding residence is surrounded by beautiful mature landscaping with expansive lawns that match the home’s immaculate interiors.

Ocean view estate in Hope Ranch, California

The entry foyer introduces the striking interior and desirable open plan of the home. A sophisticated great room is an ideal space for entertaining, encompassing the formal living and dining rooms and a chic, opaque glass bar. Ocean-view bay windows, stately columns, a warming fireplace, and detailed art lighting adorn the room while a wall of glass doors and windows frame the home’s picturesque grounds, lending an air of casual relaxation to the elegant great room.

Chic interiors of this Ocean View Santa Barbara estate

Adjacent to the kitchen, the family room is a welcoming space for casual leisure with a cathedral ceiling and exposed trusses, fireplace, and built-in media cabinets and bookcases. French doors open to an ocean-view patio while a separate door provides access to the detached garage. Additionally, a powder room is conveniently located between the kitchen, family room and adjoining living/dining spaces.

a cozy family room in a Santa Barbara estate

Nestled among swaying palms, coral and oak trees and lush lawns, the pool cabana/guest studio provides additional guest quarters with a convenient full bath and kitchenette.  The estate’s magical grounds are a lush palette of tropical foliage and tranquil water features, including a waterfall flowing into the swimming pool. 

lush tropical grounds surround a pristine ocean view estate in Santa Barbara

A beautiful, private haven with ocean and mountain views in Hope Ranch, pristine interiors and enchanting grounds are combined in this peaceful and serene property.

The serene ocean view from this Hope Ranch property in Santa Barbara

An impeccable estate with lush, tropical grounds, this property enjoys a plethora of amenities adorned in sophisticated finishes. Click here to discover more pristine interior features and learn more about this sensational property.

Architect Spotlight: Reginald Davis Johnson

Montecito and neighboring Santa Barbara are known the world over for stunning architecture and an impressive list of contributing architects who have designed stately homes and structures that perfectly complement the area’s breathtaking landscape. None however, are as acclaimed as the legendary Reginald Davis Johnson.

An ocean-view estate in Santa Barbara, California offered by Riskin Associates

Reginald Johnson was born in July of 1882 in Westchester New York. Attending a series of reputable educational institutions, Johnson earned a Bachelor of Arts from Williams College in 1907 before attending the Massachusetts Institute of Technology, where he graduated with a Bachelors of Science degree. After graduation Johnson married Kathleen Bushnell Leupp and they moved to Pasadena, California. It was there that Johnson began his architectural career and in 1922 he opened an office in Los Angeles.

In 1922, he began his work in the Santa Barbara area with the Jefferson House in Montecito. Down the road, Johnson embarked on his most famous design, the seaside Santa Barbara Biltmore Hotel. Now owned and operated as the Four Seasons Biltmore, the hotel completed construction in 1926 earning Johnson a gold medal from the Architectural League of New York. Several years later, Johnson designed the Bath House and a collection of cottages for the hotel, for which he received an award from the city of Santa Barbara. Additional contributions to the area include the Chase House and DeMott house in Hope Ranch and the Gould House in Montecito, among others.

It has been said that Johnson’s prestige comes from his ability to “work into harmony the historic Spanish tradition, the climatic feeling of the area and the appropriateness of the Modern needs.” Signatures of his designs include a mingling of Mediterranean and traditional Anglo-Saxon styles, and congruence between building’ the site and surrounding landscape. Johnson’s final commission, the Santa Barbara Post Office, completed in 1937 followed by Johnson’s announcement of his retirement as an architect.

During his retirement, Johnson was involved in organizations for low-rent housing at the local, state and national levels and he is credited as a co-founder of the Los Angeles Citizen Housing Council. During the 1940s, he contributed to the construction of the private rental project, the Baldwin Hills Village.

Reginald Davis Johnson’s homes not only supply Santa Barbara and Montecito with significant architectural design, but also contribute to the area’s rich history and sense of community.

Information supplied by Santa Barbara Architecture, Third Edition.

Property of the Week: Legendary Ocean-View Estate in Hope Ranch

Rarely does a property of such prestigious architectural caliber combined with a location offering truly impressive acreage come onto the market. Unlike any other, this unique Hope Ranch estate offers a lifestyle few can attain. Breathtaking ocean views are the backdrop to approximately nine park-like acres, so whimsical and enchanting they could have been painted upon canvas and displayed on gallery walls. A scene realized in 1929, by the great Reginald Davis Johnson, award-wining architect to Santa Barbara's Biltmore hotel, retains its character, mystery and allure today.

An ocean-view estate in Santa Barbara, California offered by Riskin Associates

Impressive entry gates open to reveal a meandering oak lined drive spilling with shrubs, flowers and trees, leading to a welcoming motor courtyard. Across an expansive, rolling lawn, the Pacific Ocean glistens, while the fragrant aroma of blossoming rosebuds lingers in the air.

A deluxe Santa Barbara estate offered by Riskin Associates

Introducing the home’s exquisite character, hand-painted details, original terra cotta floors, and a beamed ceiling adorn the foyer. An impressive galleria connects private and public spaces with elegance and grandeur, graced with a hand-painted barrel ceiling, ornate crown molding and French doors opening to the ocean-view terrace.

Original details adorn each room of this Hope Ranch estate offered by Riskin Associates.

The generous formal living room is a powerful space, with a soaring pitched beamed ceiling, hand-painted details, an elegant fireplace, a large picture window framing garden views, and French doors revealing the ocean view. A handsome copper bar with a beverage refrigerator and temperature-controlled wine refrigerator complements the space, while French doors providing direct access to the pool courtyard are ideal for entertaining in this magnificent formal living room.

grand formal living room in this Hope Ranch estate.

The formal dining room encourages the utmost in sophisticated entertaining with a warming fireplace, gallery walls and custom Wendel lighting, ideal for showcasing art. Doors provide privacy for gatherings, separating the space from the extensive and well-appointed butler’s pantry.

Formal dining room in Santa Barbara california

French doors open the formal dining room to a terrace and the pool. A second set of French doors open to the home’s centerpiece, a delightful and sun-filled courtyard, where a hand painted tile fountain and climbing foliage create the most relaxing and enjoyable atmosphere.

A sunfilled courtyard is the centerpiece to the Santa Barbara estate

Outside, the swimmer’s pool is surrounded by vine-covered pergolas, a hedge-lined patio and ample terrace spaces while an ornate tile mural draws the eye towards the spa. Exploring the property’s stone pathways, citrus and avocado trees and rose-covered trellises lead to a mature, aromatic rose garden where the only disruption is a soft, sweet breeze and the charming chirp of native birds.

Pool pavillion in Reginald Johnson Santa Barbara estate.

Fragrant gardens surround the Santa Barbara estate.

Privately set away from the main hacienda, a lavish two-bedroom guest house enjoys views of the Pacific Ocean and the property’s immaculate grounds. Beautifully renovated throughout, the guest house features a gourmet kitchen with breakfast bar and top-of-the-line appliances, French doors opening to ocean vistas, a charming fireplace, two luxurious bedroom suites, a patio and ocean view terrace.

The guest house provides additional quarters while entertaining in this Santa Barbara estate.

Above a detached three-car garage, a lovely apartment with ocean views is outfitted as a gym with a private massage room. With an eat-in kitchen, featuring a pitched beamed ceiling and Electrolux appliances, and a full bath, the space perfectly doubles as additional guest quarters.

A guest apartment features a gym, full kitchen and bedroom with full bath.

One of Hope Ranch’s original homes, this expansive ocean-view estate is truly unique in both amenities and character.

An ocean view welcomes you to the comfortable terrace.

These impressive features are just the beginning of this incredible Hope Ranch estate. To discover the other secrets Reginald Johnson hid throughout the estate, click here. Or contact Riskin Associates at 805.565.8600 or associates@riskinproperties.com

Oprah's Montecito Auction Makes Headlines

In case you've been living under a rock, media mogul and billionaire Oprah Winfrey owns a massive piece of  Montecito real estate, which she affectionately calls "Promised Land." Recently Oprah told reporters the estate, reportedly worth upwards of $85 million, is undergoing a major renovation to allow the residence to "reflect her true self."

Part of Oprah's home makeover includes a tremendous unloading of furniture and artwork which, according to Oprah's interior decorator, don't "have anything to do with" the mogul. So what does Oprah do when she needs to get rid of enough furniture to fill a 23,000 square foot residence? She hires Kaminski Auctions to get rid of it for her, donating the proceeds of the sale to her leadership academy for girls in Africa.

The auction will not only include items from her sprawling Montecito residence, but her homes across the country, including those in Chicago, Maui and her Indiana farm.

The auction is being held just a stone's throw from Montecito in Carpinteria on November 2nd beginning at 10am. Kaminski will host a special preview of items for sale on November 1st from 5-8pm. Tickets for the preview are on sale for $100.

Montecito is known to be a celebrity hideaway, with a long list of Hollywood heavy-hitters owning homes or visiting in order to escape the constantly prying eyes of the paparazzi.

Government Shutdown Update: What the NAR Told the Senate Committee Today

Since the Government Shutdown ten days ago, the world has been closely listening to the bickering between officials and watching for the effects on nearly every major industry in the nation. With all the back and forth and conflicting reports, it's difficult to decipher what is fact and what is speculation. Riskin Associates has been following the major developments, and today the headlines hit particularly close to home. Today, NAR president Gary Thomas went before the Senate Committee on Banking, Housing and Urban Affairs to discuss the foreseeable negative effects a debt default would have on the housing recovery. Thomas calls on Congress to raise the debt limit to avoid the consequences of a severe and drawn-out recession.

To quote Mr. Thomas, a default would be "devastating to homeowners whose largest asset would lose value and equity." In regards to home buyers, Thomas says "Home buyers would see a dramatic increase in interest rates and tighter credit standards." According to Thomas, a 1% increase in mortgage rates could cut home sales by nearly half a million and push many middle-class Americans out of the housing market. In his speech, Thomas urged Congress to raise the debt limit to help sustain the housing market rebound, which will allow to economy to maintain it's steady path to recovery.

The Housing Market Recovery: Just the Facts

This historic Montecito manor is priced to sell!

It's no secret, the housing market is in full recovery mode and home owners, economists and realtors are (cautiously) jumping for joy! With many news outlets reporting figures on the various aspects of the recovery, we thought it may be helpful to put the relevant information in one place. Fortunately, PropertyWire.com released an article which paints a helpful picture of the current state of the US housing market. Click the link to read the full article, or get the condensed version here:

• August marked the 17th consecutive month of housing price increases.
• August 2013 median sale prices up 6% from August 2012
• Home prices are up 23% from the bottom of the market in March 2013
• Foreclosures are down 3% from a year ago.
• Recovery seems to be driven by all-cash buyers and institutional investors based on the increasing share of sales by those two groups.
• California has seen the largest annual median price increase at 32%
• The CA metro areas with a population of 1M or more with the biggest annual median price increase:

1. San Francisco and Sacramento with 35% increase, with a healthy Northern California economy fueling price increases
2. Riverside/San Bernardino with 28% increase
3. Los Angeles with 26% increase

With an active market and a turbulent government, Riskin Associates will continue to report on the state and changes of the real estate market.

3 Ways to Make More Time!

Everyone has their own version of a "busy schedule" and while every industry has unique requirements for how much time is needed to put in in order to be successful, the bottom line is we all need more time. Between careers, social lives and personal time, it seems that nearly every hour of the week is blocked off for something and nearly everyone is asking: how can I make more time? As real estate professionals in the busy markets of Montecito and Santa Barbara, here at Riskin Associates, we are constantly in search of ways to carve out more time for get things done.

Last week, Forbes came to our rescue with an article supplying a few useful suggestions for how to better manage our time. Here, we break down their suggestions for you (time saving!) or click here to read the full article.

• Free time doesn't have to be available time. When you see a block of time in your calendar that hasn't already been dedicated to an event or activity, fight the urge to fill it with the next invitation. Everyone wants to take advantage of worth-while opportunities, but saying no in order to leave a Wednesday evening or Saturday afternoon open in the calendar will allow you to recharge your batteries and take time for yourself. Being committed to another event doesn't have to be the only reason to turn down an invitation.
• Put it on the calendar. Yes, you read that correctly. And as oxymoronic as it sounds, filling your calendar will allow you to get more things done. Here's the catch, fill your calendar with the tasks that should get done every day/week/month and put them on the schedule for the next three months. If it isn't on the calendar it won't get done. Are weekday exercise sessions routinely pushed to the bottom of your list in favor of that early morning conference call? Do personal administrative tasks (bill paying, trip planning etc.) get put on the back burner due to networking events? Schedule time for these tasks for the next 2-3 months. The time doesn't have to be set in stone, but if time is allotted for these tasks early, you can easily move them as needed. Just be sure to move them, not remove them from the calendar.
• Get this: Sometimes time is more valuable than money. Do you despise the time you feel is wasted by cooking meals and washing dishes every night? Doing laundry on the weekends? In some cases, forking out the extra money in order to save time is well worth it. Eliminated stress, completing more important or urgent tasks, and allowing more time for relaxation are all worth the price difference in paying for a meal delivery system or housekeeper to help with cleaning and laundry. They say 'time is money' but maybe they could be saying 'money makes time.'

With some new insight into how to find more time in your schedule, do an experiment on time management. Follow these suggestions and let us know if you found these tips helpful!

Friday Formal Living Rooms: What's Your Style?

The Formal Living Room. Everyone knows it, that room in your grandmother's house "no one ever goes in" or "only when we have important guests," conjuring up images of stark white carpet and delicate glass accouterments.  But the uninviting spaces of your grandparents' days are over and formal living rooms are making a casually elegant comeback. From classic European to charming rustic, there is a room to suit anyone's "formal" preferences. Below, enjoy four unique formal living rooms, and Riskin Associates wants to know, what's your style?

a Montecito estate's formal living room

Elegant Tuscany. This elegant, grand formal living room is the sophisticated centerpiece to an equally grand Tuscan villa. The room has been designed for luxury and outfitted with the highest quality finishes, including hand-finished walls, a coffered lyptus wood ceiling and an imported fireplace mantle.

A Montecito ocean view formal living room.

Casual California. Perched on a high hilltop, this estate's formal living room enjoy a panoramic ocean view, which commands center stage through an expansive floor-to-ceiling window. A soaring pitched beamed ceiling is complemented by a pair of chic iron chandeliers.

A rustic ocean view formal living room in Santa Barbara

Rustic Retreat.If you prefer a rustic,  mountainous atmosphere, perhaps this comfortable formal living room with towering ceilings and beamed walls will suit you. A fireplace warms the expansive room which enjoys a wall of sliding glass doors opening to a terrace overlooking and expansive ocean view.

A craftsman living room in Montecito

Comfortable Craftsman.Warm rays of sun stream in through sky lights and picture  windows in this charming craftsman style room. Take in lush lawns and shady trees from the lovely window seat!

Indian Government Bans Purchase of Foreign Property

The business of buying and selling residential real estate is becoming an increasingly global industry. Many buyers of residential properties are using foreign money to purchase property both in the U.S. and around the world. However, the recent surge in property purchases by international buyers may lead to some unforeseen repercussions.  For example, the Indian government has taken an a series of interesting actions which could affect the global housing market. In recent years, Indian residents have invested heavily in foreign real estate, purchasing rental properties to secure income for their families and relatives or for their own use while visiting the country. Indians have had a such a heavy influence, that in recent years they were among the top five buyers by country of origin in the U.S. Purchasing U.S. homes of an average price of $300,000, with 21% of these purchases made in all cash.  Additionally, Indians were the number one purchasers of property in Dubai. What prompted such a dramatic decision by the Indian government? The answer is quite simple, keep the money in the country. In an effort to balance the strength of the Indian rupee against foreign currencies, the Indian government aims to increase the local exchange of currency, rather than seeing funds generated in India spent outside of the country. With such a large percentage of foreign buyers eliminated by the new law, housing markets around the world may feel the effects, in the form of decreased home sales.

This new global development could quite possibly have major repercussions for real estate markets around the world. For more information, please click here to view an article posted on World Property Channel.

Weekend Food, Fun & Sun in Santa Barbara!!

The SOL Food Festival in Santa Barbara has fun for the whole family!

Santa Barbara is renowned for it's stretches of sandy beaches, exciting events such as the SB International Film Festival and of course, it's profusion of delectable culinary offerings. But restaurants and cafes aren't the only spots in Santa Barbara you will find food and fun combined! Santa Barbara residents and visitors regularly enjoy festivals and celebrations that prove to be a feast for all the senses! Santa Barbara offers year-round opportunities to appreciate the beautiful bounty of the area. From the Solstice Festival in June to Octoberfest fun, and lets not forget the annual Holiday Parade, each season has it's own way of partaking in the excitement! As we head into the fall season (which, in Santa Barbara, bares a striking resemblance to Summer) harvest fun is  everywhere! This Saturday, the SOL Food Festival will pay tribute to local farmers, chefs, and organizations  throughout SB County. The festival, which will be held at Plaza Vera Cruz Park on Santa Barbara street between Cota  and Haley Streets, will feature several different stages each boasting their own theme such as Making Change Stage  and Hands On Kitchen Stage. We've included the festival map to the left! Bring the family out to Plaza Vera Cruz Park for a day of fun, food, music and of course, Santa Barbara sun!

Figueroa Mountain Brewing Company Figtober Fest

Another way to enjoy the beauty of Santa Barbara's fine offerings is directed to our adult residents and visitors. The new "it" locale for laid-back dining and drinking is Santa Barbara's up and coming neighborhood, lovingly referred to as The Funk Zone. This area of SB was once known for its industrial atmosphere, but star chefs, breweries and sommeliers are breathing new life into the area, giving it a relaxed yet stylish feel. New restaurants and tasting rooms are popping up what seems to be weekly, and the activity is getting everyone's attention.

This weekend, Santa Barbara County favorite Figueroa Mountain Brewing Company is hosting FigtoberFest in two locations, Buellton and the Santa Barbara Funk Zone. The Funk Zone location will feature beer tastings, guest breweries, wine tastings, food trucks, live music and costume contests! In keeping with the Oktoberfest spirit, traditional German garb is encouraged!!

Sunday, work (or watch) off your food/beer coma by heading down to West Beach and take in the AVP Pro Beach Volleyball Tour, going on Friday - Sunday. Click here to buy your tickets to the action!!

Riskin Associates invites you to visit Santa Barbara and get a taste of what everyday life is like in paradise!

AVP

The Luxury Market Goes To The Young and the Wealthy!

The National Association of Realtors has reported on a very intriguing study conducted by the Luxury Institute, which found those who are driving the luxury real estate market are not those middle-aged CEO's but younger buyers with a fresh take on what is "in" in luxury real estate. Looking at young buyers aged 21 or older with a minimum income of $250,000, the survey concludes that these young buyers are willing to pay more than buyers of similar wealth but aged over 55. On average, young buyers spent over $2 million on their most recent residential property purchase which was almost twice as much as older buyers spent! The article by RealtorMag quotes the CEO of the Luxury Institute: “Luxury homes are for more than successful and retired empty nesters,” says Milton Pedraza, CEO of the Luxury Institute. “Today’s luxury buyer is both dynamic and diverse, and it’s reflected in the homes and products they’re buying.”

However, it's not just how much young buyers are spending, but also what they are spending it on that is of note. The amenities at the top of most young buyer's wish lists are outdoor kitchens, gyms, home theater systems and garages to house 4+ cars! These amenities all showcase the desire to lead active lifestyles, raise families or entertain in their homes and make the most of their purchases. Despite these new age desires, the oldest adage in real estate still applies: Location, location, location! Location is still the most important factor in property purchases, with only 6% of young buyers purchasing homes outside of the U.S.

Calling all you young buyers looking for the perfect property! Take a peek into these luxury Riskin Associates properties and tell us, do you see something you like?

A home gym in a Santa Barbara estate

This contemporary Montecito property boasts one of the most luxurious outdoor dining areas.

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