This month marks the 17th anniversary of Riskin Associates parent company, Village Properties! Co-founded by agents Renee Grubb and Ed Edick, the company has grown to over 150 agents across three offices, Montecito, Santa Barbara and Santa Ynez. Village Properties is proudly affiliated with Christie's International Real Estate and Luxury Portfolio, which extends the outreach of marketing efforts for the area's most distinctive properties and provides an elaborate network of agents who represent affluent buyers all over the world. To celebrate the incredible accomplishments and strides Village Properties has made in the industry, a fantastic soiree at Santa Barbara's elegant Canary Hotel was thrown. Agents and staff were invited to enjoy the beautiful Spring evening atop the Canary's beautiful rooftop terrace overlooking the sea and mountains while honoring their efforts over the past 17 years. After an incredibly successful year in 2012 and an energetic first few months of 2013, the Riskin Associates team was excited to attend and mingle with fellow agents and staff!
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Every day we feel fortunate to work in Montecito...enjoying the beautiful weather, famer's markets, restaurants and overall lifestyle of the area. But yesterday we were very fortunate to work on Coast Village Road, as the Amgen Tour of California cycled right through our area! The Riskin Associates team walked down to experience the excitement of the bike race during Stage 4 of the tour. Congrats to USA's Tyler Farrar for winning Stage 4! The race is just underway this morning as the cyclists leave Santa Barbara, headed for Avila Beach.
After a stellar year in 2012, the real estate market is experiencing a historically low supply of listed properties all over the country. An article by CNBC's Diana Olick discusses the current state of the market and cites several potential factors contributing to this painfully low inventory. According to Olick's article, listings are down 17% over March 2012 and potential contributing factors include that many Americans owe more than their property is worth, so a move could incur a great expense, which discourages homeowners from listing their property. Also, as home prices rise, many potential sellers may be waiting to see how high the prices will go before listing.
However, despite the low inventory, the pending home sales index is up 7% over March 2012, predicting an increase in closing sales. Across the country, pending home sales are inching upwards with the west seeing a 1.5% increase and the south is up 2.7%. The east coast stayed the same and the midwest is up 0.3%.
With home prices rising and an abnormally low inventory, the market is experiencing a fantastic season for sellers! Riskin Associates, Montecito's #1 selling agent represents properties of distinction in Montecito.
Set on the bluffs overlooking the Pacific ocean, ten minutes north of our office in Montecito, the beautiful Bacara Resort & Spa hosted the Pacific Pride Foundation's annual Royal Ball. Event planner extraordinaire Merryl Brown created a magical evening full of surprise for over 500 guests. Rebecca Riskin attended along with partner Dina Landi of Riskin Associates to support the Foundation, which provides services to the HIV/AIDS and LGBT communities of Santa Barbara.
The event was hosted by an impressive list of honorary chairs including actor Neil Patrick Harris and his husband, Iron Chef Cat Cora and her wife and a number of other prominent members of the LGBT community and straight supporters. A feast for the senses, guests enjoyed a delicious offering of culinary creations including short ribs and onion rings resting atop a bed of mashed potatoes, elegantly served in martini glasses. American Idol alum Miss Frenchie Davis performed along with extreme stilt performers, torque acrobats and go-go dancers who wowed guests with their own incredible performances. Acclaimed LA DJ Mike Bryant ensured the dance floor was packed well passed the stroke of midnight.
The ball brought together a community of gay, lesbian, bisexual, transgender, and straight supporters to share an evening of fun and fundraising in support of the Pacific Pride Foundation. The Foundation is the only organization on the central coast providing the LGBT community with HIV and AIDS services and education as well as a number of important counseling services for members of the community such as sensitivity training for law enforcement and teens.
The beautiful city of Santa Barbara, and its charming neighboring towns of Montecito, Carpinteria, and Goleta, offer residents a plethora of fun activities year round! Known for its love of all things epicurean, Santa Barbara fun often includes farm-to-table food. One of our favorite ways to enjoy this incredible seaside community is by exploring the farmers markets, which can be found seven days a week in various parts of town, to discover the fresh and delicious offerings from the area's local farmers, colorful flowers and delightful crafts! Here in Montecito, Friday fun usually begins with a trip to the travelling farmers market on Coast Village Road, which rotates locations along the quaint street each week. Families and friends in the area enjoy starting their weekend with a stroll through the market, sampling fresh fruits and veggies, gourmet artisan cheese selections, mouth-watering goodies like freshly made hummus and so much more, all while taking in the crisp ocean air and warm Santa Barbara sun!
Have you bought your ticket yet for the Santa Barbara Million Dollar Home Raffle? The Contemporary Arts Forum's annual raffle is underway, and the Early Bird drawing deadline is tomorrow night! The grand prize is a million dollar home or $1 million in cash. The Early Bird drawing include 36 additional prizes like shopping sprees and $10,000 cash. Tickets are just $150, and not only benefit the Santa Barbara Contemporary Arts Forum, but a number of other 501(c)3 non-profits in the area. Village Properties' own foundation, The Teacher's Fund, will receive a percentage of the net proceeds. The Teacher's Fund helps local public and private K-12 school teachers buy the supplies and books they so desperately need. Be sure to use this link to download your entry form, which credits The Teacher's Fund for your purchase. Thanks for your support!
In the Montecito Journal's Real Estate View, published the week of February 21, author Michael Phillips makes sense out of the Heat Index for Montecito. The article explains that the heat index measures present demand for single-family homes in multiple price sectors and scores are compared to those from a year ago. Astonishingly, today's heat score is 378, which reflects a 302% increase over last year's. While the under $1 million range saw an enormous gain with a score of 250, the luxury markets of $2-3 million and $3-4 million saw encouraging gains with scores of 25 and 26 respectively. Rising prices was also a topic of interest in the article, stating that despite a demand-supply imbalance, resulting in a thin market, prices are rising and buyers are acting quickly on exciting opportunities. December marked the 10th consecutive nationwide monthly home price increase at 9%. However, Montecito real estate price increase far exceeded that number, with home prices rising 25%! As we enter into the Spring and Summer seasons, Riskin Associates hopes to continue to see gains across all price ranges.
In his recent article, a custom home builder in Santa Barbara, Doug Ford of DD Ford Construction Inc., highlights the latest trend in home energy solutions, geothermal heating and cooling systems. The technology has gained popularity as homeowners are becoming more aware of their homes' impact on the environment. Geothermal systems use the temperature of the earth 8 ft below ground to regulate the temperature of the air that is distributed through the home's central air system. The temperature of the earth fluctuates far less than the temperature of the outside air, allowing a comfortable temperature to be reached using less fossil fuels than conventional heating and cooling systems. Also, geothermal systems emit no greenhouse gases, which have been linked to global warming. Your inner economist will appreciate another benefit of the new technology, the investment return on geothermal system installation. Geothermal systems have been shown to cut monthly energy usage by half, and as an incentive the Federal Government is offering a 30% tax credit on the cost and installation of geothermal systems through the year 2016.
Cities across California, including Montecito, are doing their best to reduce their carbon footprint. Geothermal energy is a trending way to accomplish this goal while saving homeowners money on their monthly energy bill. Riskin Associates, like DD Ford Construction Inc., wants to know, is geothermal energy in your future?
The market is picking up and according to a CNNMoney article foreclosures are coming down. January saw the lowest bank repossessions since 2006 and a 28% decrease from January 2012. California's "Homeowners Bill of Rights" took effect on January 1, 2013 further protecting borrowers from default and resulting in a 62% decrease in new foreclosure filings in California, taking the state out of the lead for new filings. The market is continuing to recover and steady improvement is forecasted through 2013. As Riskin Associates sold over $220 million in luxury real estate in the Montecito area last year, we are looking forward to further market incline!
Cupid's favorite holiday is already upon us and in Montecito romance is in the air! In case Valentine's Day snuck up on you, Riskin Associates can recommend a few ideas from local favorites to help you make the evening special.
1. No Valentine's Day is complete without a bursting bouquet of red roses. Show your affection with a "Love's Divine" arrangement from Gazebo Flowers. Love's Divine Bouquet, starting at $230
2. Cloak her in colorful cashmere! This beautiful Franco Ferrari Barabba Air Paisley Colorblock Scarf will keep her looking and feeling ready for Springtime ahead! Franco Ferrari Barabba Air Scarf, $298 at Dressed.
3. Is your man the king of the golf course (or does he think he is)? Treat him to a round at one of Santa Barbara's luxury golf courses. Sandpiper's championship course, which has been rated by Golf Digest as one of the Top 25 in the country, overlooks the Pacific Ocean, offering a beautiful break from the boardroom. Sandpiper Gift Cards can be purchased in the online store.Rounds start at just $139.
4. Indulge your special someone and yourself (bonus!) with a couple's massage at the Ojai Valley Inn and Spa. The Spa Ojai has been listed by Conde Nast Magazine as one of the Top 25 North American Spas. Spa Ojai's Customized Together Massage, 50 minutes $145, 100 minutes $290 (price per person).
5. Can't jet to Italy for the weekend? Visiting Olio e Limone for a romantic Italian dinner is the next best thing! Hand made pastas and an extensive wine list promise you and your date a Valentine's Day meal to remember.
Santa Barbara's only women's residential recovery home, Casa Serena has a thoughtful and philanthropic way to show your loved ones that you're thinking of them this Valentine's day. The "Grateful Hearts" will hand deliver flowers and chocolate to your special someone in the Santa Barbara area on February 14th between the hours of 10am and 5pm. Orders must be received by February 12 and 100% of your $20 donation will benefit the women of Casa Serena. Riskin Associates is proud to increase awareness about this fantastic and romantic fundraiser!
We'd love for you to consider purchasing a raffle ticket from Village Properties to support The Teacher's Fund, established to help local public and private K-12 school teachers buy the supplies and books they so desperately need. Only 50 tickets will be sold, so your chances of winning a dream vacation are pretty good! The winner gets to choose their vacation of choice (Europe, Telluride, Pebble Beach/Carmel or Hawaii). The drawing will be held at the Futures Golf Tournament in Santa Barbara on Friday, September 21st (winner need not be present). Simply contact Rebecca Riskin & Associates to purchase your ticket!
Whether you're a Santa Barbara native, a recent transplant or simply a visitor, Old Spanish Days in Santa Barbara is an event not to be missed! Dating back to 1924, Fiesta is a celebration of our city's Spanish heritage through the tradition of colorful dance, music and song. This year's theme, Viva La Familia, captures the spirit of family and community as Santa Barbara extends its warm hospitality. Join us in celebrating our city's rich culture this weekend. Viva la fiesta!
For more information about Old Spanish Days, click here.
SBmenus.com, a local online restaurant database, is now a proud partner of the Teachers Fund, our very own Village Properties program established to help local public and private K-12 school teachers buy the supplies and books they so desperately need. Through the partnership, 1% of all online order sales will be donated to the Teachers Fund each month, providing a great way for Santa Barbara locals to generate revenue for local schools while filling their bellies. SBmenus.com provides the community of Santa Barbara with a quick and easily accessible online database of Santa Barbara's best restaurants. Besides a complete online restaurant guide full of menus and restaurant information, the site provides online ordering for delivery or take-out for 50 local restaurants, with exclusive online specials. Bookmark SBmenus.com to save money, time and give back to the community!
Just last month we reported to you that sales for Santa Barbara County were booming. Well, the May numbers are in and the market is gaining speed even faster than expected. In fact, the South County real estate market is now running 40% ahead of 2011 year-to-date. The graph below displays a serious spike in sales, with May 2012 reaching an all time high and breaking the 200 property threshold. This is the strongest start to the year we've seen since 2004!
Meanwhile at Rebecca Riskin & Associates, we are definitely feeling the market heat up as we continue to break records. Our year- to-date sales are now at $135 million! Make sure to visit our website to view the beautiful photos and full details of our 22 current listings.
As of lately, fantastic weather has graced our seaside town. Things aren't just looking up outside, however: Our office has been booming with action. We have proudly closed nearly $110 million in sales since January, a new record for us. In fact, the southern Santa Barbara County real estate market is up 33% in sales compared with last year.
We're thrilled to see the market upturn, as increases in high end real estate sales bodes well for the market in general, boosting consumer confidence.
Additionally, we have some exceptional mega listings coming up and will have some beautiful things to share here. Stay tuned because can't wait to show them off!
At the end of January, Santa Barbara bustles with excitement as the film festival takes over. When Santa Barbarans and Montecitians look up at the night sky from January 26th until February 4th, they will see the Arlington theater's light beams darting around, old Hollywood style. State Street lights up with red carpets that beckon the year's Oscar nominees. The whole week has a very special tinge in the air.
While Hollywood usually sits in the film culture spotlight, the attention turns about 100 miles northward for just 11 days out of the year. This year's festival promises lots of fun and excitement, as always. We wish everyone involved a fantastic time and the festival continuing success!
We are incredibly thrilled to announce that the Multiple Listing Service (MLS) has ranked Rebecca Riskin & Associates Santa Barbara's top selling agent in 2011. This honor is such an inspiration to us, and one for which we can thank our exceptional clients and colleagues.
Here are some gorgeous listings whose sales allowed our success:
Edgecliff Beach Cottage
Italian Villa on the Prestigious Picacho Lane
Butterfly Beach Home
Sophisticated Santa Barbara Riviera Jewel
European Country Estate in Montecito
Parra Grande Creekside Home
Again, we can't thank the community enough for its support this past year. We wish a very prosperous 2012 to all!
One of our most recent Montecito real estate listings on Ashley Road has an incredible history. We love working with properties that have an enticing past and truly believe one of the best things about Montecito is its rich history-- something unique to come by in California. Not surprisingly, we weren't the first ones to recognize our area's paradisial beauty!
The original Oglivy house was built in the early 1900s by Scottish immigrant Arthur T. Oglivy as a farmhouse surrounded by lemon groves. Famous architect J.L Curletti designed the distinctive craftsman style home. Arthur T., wife Jessie Alexander, and their only son, Arthur Edward, lived in the barn while they constructed the shingled, two-story home.
Arthur T. was a popular resident of Montecito, and the Oglivy house was known for its hospitality and casual social gatherings. The family regularly participated in community events and entertained visitors often. San Ysidro Ranch has records of Arthur T. taking advantage of its "low summer rates" in 1893-- the famous resort's first year in business.
The property enjoyed a few wells, one of which produced enough water for the Oglivys to start a drinking water business called Oglivy Artesian Water Company. For almost 30 years until 1947, people would bring jars to the Oglivy well to quench their thirst.
Son Arthur E. attended Cold Spring School before heading off to Yale. After graduating, he returned to Montecito and began working at his uncle's insurance firm, Oglivy-Hill insurance, which is still in practice today. In 1927, he hired architect George Washington Smith to build him a home on the south end of the property, now 650 Ashley Road. Like his father, Arthur E. became a well-loved local figure in Montecito.
Mrs. Oglivy died at age 90 in 1955, with Arthur E. following shortly after in 1960 at age 71. Their deaths marked the end of the Oglivy presence in Montecito.
In 1959, Donald and Ellen Armour of the Armour Meatpacking Empire bought the Oglivy house. According to neighborhood chatter, Donald's penchant for mismanaging money forced the couple to abandon the home with all furniture in tact, vanishing forever.
The following year, Todd and Gail Campbell purchased the home, where they raised four children and several grandchildren. Recently, one of the Campbell children returned the home's original brass doorbell cover, which is now back in its original place.
Julia Emerson bought and restored the home in 1984. She worked hard to get the house back to its original state, re-painting walls white and stripping linoleum away to reveal the original Douglas Fir floors beneath. She updated the kitchen and carefully restored the original pantry. Julia hired landscape architect Nancy Goslee Powers (who designed the driveway around the Norfolk Island Pine that was planted when the home was built), and updated the home's electricity and plumbing to match modern standards.
In the spirit of the Oglivy family, Julia Emerson frequently hosted worldly guests at the home, including the Dalai Lama and a team of monks who meditated at the home for weeks to bless the property before his arrival. As a gift, one of the monks carved a Tibetan prayer into a piece of sandstone, which is now embedded within the front porch.
All of the home's residents who came after the Emersons likewise became beloved members of the community, with the home carrying on its reputation as a lively social gathering spot; the home has traditionally hosted Easter egg hunts, intergenerational bocce tournaments, and summer concert series.
Residents have continued to restore the home over the years, with exquisite care to maintaining original details, while updating its features to the highest end of standards.
The home is truly a treasure trove of community joy nestled in the heart of Montecito.
The Oglivy home today:
One of the best aspects of living in Montecito is residing in a tight-knit, involved community. At the center of the community sits the Montecito Association, a nonprofit organization that unites local businesses and individuals with the city and each other. It is supported directly by its members for whom it monitors, and thus protects, issues affecting the area.
This week, the Montecito Association proudly unveiled its new website, which provides a plethora of new services for members and the community in general-- it's a great place to check out all things Montecito. Quoting the Montecito Association, some of the new features include:
-Updates on current issues affecting Montecito
-Secure payment system that accepts online payment for membership dues
-Community calendar featuring local events of interest
-Useful links to community resources
-Spotlight opportunities for area nonprofits
-Photo gallery and uploader showcasing Montecito scenes and festivities
-Community Hall rental information
If you're a Montecito resident, property owner, or business, be sure to make great use of this new forum. If you're not a member yet, we recommend that, too!