A Quick Look Into the Inaccuracies of Zillow Home Zestimates in Santa Barbara

The LA Times recently examined Zillow‘s price inaccuracies, where Zillow CEO, Spencer Rascoff, remarked that their “Zestimates are a ‘good starting point’ but that nationwide they have a ‘median error rate’ of about 8%.” This is of significance considering that Zillow is one of the most popular real estate information sites. “Shoppers, buyers, and sellers” alike often quote these estimated value prices to real estate agents, and discrepancies can sometimes lead to disagreements. The disparity can be especially significant in regards to luxury homes, where that “small” percentage can translate to hundreds of thousands of dollars – possibly even more in market areas where inaccuracy percentages are even higher. (Read the full LA Times article here)

So, we decided to do a little bit of our own research about the Santa Barbara area including Carpinteria, and Montecito. We compared the sales price of 10 different homes that closed since January 1, 2015 to current Zillow Zestimate prices. Differences ranged from +/- 3% all the way up 31%, with the majority of discrepancies being between +/- 3% and 11%; the average deviation from actual closing sale price was 11.8%. Although it would be a stretch to assume this is the average for the entire Santa Barbara housing market, it does give us a general idea of the extent to which Zestimates are flawed. Fortunately, it seems Santa Barbara does not suffer from drastic price discrepancies, but it is a factor that home buyers, sellers, and shoppers should be aware of.

Lesson to learn from all of this: online home estimates should be used for general reference, and not treated as factual or explicit. Buyers and sellers are encouraged to trust the valuations of real estate professionals and appraisers.

For more information on Santa Barbara real estate, or the luxury enclaves of Montecito, Hope Ranch, the Riviera and Beaches, please contact Riskin Associates, the top producing real estate team in Santa Barbara.

Riskin Associates of Village Properties Sells Mediterranean Estate in Montecito for $15,000,000

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LuxuryRealEstate.com, “a compendium of the finest residential real estate firms from around the world,” has published a press release regarding the recent sale of one of Riskin Associates‘ exceptional properties in Montecito. The two-story Mediterranean estates which prides ocean- and mountain-views, a six bedroom main house, two bedroom guest cottage, pool and cabana, tennis court, and lusciously manicured gardens, was sold for $15,000,000.The press release from LuxuryRealEstate.com contributes to the recognition of Riskin Associates as a prominent figure within the Who’s Who in Luxury Real Estate network; we genuinely feel inspired and motivated to continue striving toward our goals! If you would like to browse more closed sales by Riskin Associates, click here, or if you would like to view more of our available listings, click here.

To read the full significant sale article click here or on the picture below

New Listing! Tranquil Montecito Retreat

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Nestled on a tranquil, gated acre, this captivating Montecito home has been impeccably updated with outstanding design elements, top of the line finishes, lush landscaping and abundant character throughout.

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Wonderful indoor/outdoor living is enjoyed through vibrant, spacious rooms including an airy living room with a whitewashed brick fireplace, large windows and charming built-ins. The dining room’s pitched ceiling and skylights enhance the airy feel of the room while a wall of French doors open completely to the patio for extraordinary entertaining. 

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The spacious family room’s French doors open to a soothing waterfall.

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The state-of-the-art Bulthaup kitchen boasts Miele and Sub-Zero appliances, a generous chef’s island with abundant storage and a charming built-in breakfast nook with skylights. French doors open to a beautiful deck and garden, welcoming lovely sunlight into the heart of the home. A powder room conveniently serves the home’s public spaces.

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Luxuriously appointed, the master suite is warmed by a corner fireplace and gorgeous garden views through French doors. 2860EValley_Bath

A sumptuous ensuite bath is outfitted with floating teak cabinets, Brazilian marble, a vast walk-in rainforest shower with linen tile and a freestanding spa tub surrounded by lush outdoor greenery.

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Three additional light-filled bedrooms are welcome retreats for guests. Two bedrooms share a pristine bath while a third spacious suite boasts a dedicated bath and custom built-in storage. A sizeable pine-paneled art studio (the converted garage) sits apart from the main house, inspired by garden views and magnificent skylights.

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Enjoying a rural creek-side Montecito location, mature Oaks tower above enchanting gardens, whimsical paths, colorful specimen plants, native boulders and numerous outdoor patios. Zen-like serenity is achieved with a stunning waterfall feature, cascading into a stone pond adorned with banana trees, palms and lily pads.

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Refined design is met with unassuming comfort to create a truly exceptional property.

2860 East Valley Rd
Montecito, CA 93108

Click Here to view more incredible properties available at Riskin Associates

Feature Listing: A West Coast Estate with East Coast Charm – Montecito, CA

Brookside Montecito

Escape to an enchanting East Coast country estate in one of the West Coast’s most enviable locations. A ninety-minute coastal drive from Los Angeles, or just fifteen minutes from Santa Barbara Municipal Airport, finds one in the idyllic town of Montecito. Effortlessly luxurious, Montecito invites a relaxed lifestyle ideal for enjoying near perfect year round weather and endless options for leisure by the sea. Throughout the incredibly charming town, upscale hotels, fine restaurants and shopping are lavish amenities.

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On a quiet lane minutes to Montecito’s Upper Village and the celebrated San Ysidro Ranch, approximately 2.38 magical acres host Brookside, an enchanting estate. A gated drive winds past ancient oaks towards the sprawling residence reminiscent of traditional Nantucket homes with a stone facade and slate roof. A spacious stone motor court and three-car garage provide ample parking for residents and guests.

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An inviting brick porch beckons guests into the entry foyer. Introducing the home’s gracious and welcoming atmosphere, this tasteful reception room accesses the formal spaces and private master wing while an elegant staircase leads to the upper level bedroom suites.

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The resplendent formal dining room is rich with elegant details. Poised for formal hosting, silk and wainscot wall treatments, crown molding and a large picture window framing majestic mountain views create a gracious dining space. For casual daily living and entertaining, French doors open to an outdoor patio and lush lawn.

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The formal living room welcomes grand tradition. A towering ceiling combines with the dramatic mountain view, affording a commanding air to the magnificent space. Custom built-in bookcases and an impressive fireplace prominently display the exceptional craftsmanship which defines the house. Three sets of French doors open to the stunning estate grounds providing access to the pool terrace, outdoor kitchen and dining patio.

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The north wing of the home hosts an incredibly lavish yet comfortable eat-in kitchen, outfitted with luxurious amenities while remaining both inviting and livable. Beneath a beamed ceiling, the kitchen boasts mountain views, a spacious center island with a six-burner range and ample storage. In the impressive butler’s pantry, abundant china storage, warming drawers, a wine refrigerator and dishwasher allow for effortless entertaining. The kitchen opens to a cozy family room where built-in storage, a charming fireplace and French doors leading to the outdoor kitchen and dining area are resplendent details for everyday living.

Completing the north wing of the home are spacious laundry facilities, a full bath and an upstairs staff apartment. Offering it’s own entrance, a bedroom, full bath and a sitting room with mountain vistas, this lovely space perfectly doubles as an office or guest suite.

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In the handsome library, paneled walls complementing the French oak floor, exquisite built in bookshelves, French doors and warming fireplace create an ideal space for quiet leisure.

An exquisite galleria leads to the private master wing. Exceptional built-in cabinetry provides both elegant design aesthetics and abundant storage, alluding to the amenities of the sophisticated yet intimate master suite.

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Defined by a lingering air of romance, the expansive master suite is rich with luxurious design details. Delicate rays of sun waft through large windows overlooking the estate grounds, drenching the room in soft light. A fireplace and sunny sitting area welcome quiet personal moments while two private dressing rooms are lavish retreats within the suite.

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The first is pristine with a tranquil soaking tub, oversized shower and elegant vanity creating a sensual haven for relaxation. Beyond, a magnificent walk-in closet exceeds every expectation. Designed with the utmost attention to function as well as aesthetics, the expansive closet affords organization and order to each item and accessory.

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A second dressing room of equal design pedigree, cloaked in handsome alder, includes a distinguished ensuite bath with an oversized shower and access to the pool terrace, completing the gracious master suite.

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In close proximity to the master suite, a lovely bedroom offers playful design, two closets and an ensuite bath finished in marble. Upstairs, two impressive bedrooms boast pitched ceilings, ensuite baths and French doors opening to a spacious mountain view terrace. Equally inviting to family or guests, a glowing fireplace warms the first suite while the second enjoys a large walk-in closet.

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The attached pool cabana is an idyllic accompaniment to the exquisite pool terrace. With a pitched ceiling, the bright and airy cabana includes fantastic built-in storage, a heated loggia and a full bath.

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Two sets of sliding doors pocket into the walls, opening to the pool, lawn and outdoor dining areas creating a true indoor/outdoor experience. When needed, the pool cabana offers all the amenities of a guest suite.

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In addition to the sprawling main residence, two auxiliary structures create the estate’s magical compound. Set privately away from the main house, the immensely charming guest house provides wonderful accommodations for long-term guests, offering dedicated parking, two bedrooms, a full bath, a delightful living room and kitchenette. Soaring ceilings, a warming fireplace and a terrace overlooking a magical oak trees, putting green and tranquil, trickling creek offer a impressive welcome to guests.

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Additionally, a quaint cottage built in 2010, yet designed to appear to have occupied the site for decades, offers a cozy office with built-in cabinetry and a large multipurpose room with a half bath perfect for a gym or art studio.

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An exquisite landscape of blossoming rose gardens, majestic oaks and redwoods, and tasteful entertaining terraces surround Brookside while offering relaxed outdoor living in Montecito’s enviable year-round climate.

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A staggering mountain view is an impressive backdrop to the stunning pool terrace, which is easily accessible from the residence and features a large swimmer’s pool, lounge patio and grand outdoor fireplace. A vine-covered pergola and lush lawn are verdant accompaniments to the beautiful brick terrace.

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Enjoy al fresco cooking and dining as the glorious peaks of the Santa Ynez Mountains are painted shades of purple by the exquisite “pink moment” sunset. An outdoor kitchen boasts a Viking barbecue, a refrigerator and sink aside a dining terrace for seamless outdoor entertaining. Also in this area, a lawn and large play structure await imaginative adventures and games.

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Stone pathways meander through an enchanting oak woodland toward the creekside guest house, putting green and half basketball court.

Beyond the estate grounds additional amenities lie just moments away. Hiking trails, luxurious shopping and dining, exceptional golf clubs and Montecito’s expansive beaches are all within close proximity to the residence.

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One of Montecito’s finest estates, Brookside is the culmination of grand tradition delicately balanced with luxurious, modern amenities.

764 San Ysidro Lane

Offered at $12,950,000

Click here to explore more listings at Riskin Associates

Santa Barbara Hosts Second Most Expensive Home for Sale in the United States

An article by SuperCompressor.com has listed the most expensive homes available in each of the 50 states, per Zillow reports. Among an abundance of jaw-dropping properties, Santa Barbara hosts the second most expensive on the list, representing the entire state of California (it ranks just behind an estate on Hillsboro beach in Florida listed for $139,000,000)!

2500 East Valley Road, Montecito, CA 93108

The $125,000,000 hilltop manor shown above was built in 1930 by renowned architect Reginald Johnson and is located in none other than Montecito; in fact, it’s only a short drive from our office! This property is evidence of the rich history, beautiful panoramas, and luxurious lifestyle available in the area. Riskin Associates has a variety of similarly impressive and exceptional properties in the area also including a historic Reginald Johnson home.

The historic property described above is also one of Hope Ranch‘s original estates – to experience the enchanting charm of 1520 Roble Drive, simply click on the video above.

1664 East Valley Road, currently listed by Riskin Associates

1664 East Valley Road, currently listed by Riskin Associates

Just down the road from the chart-topping manor is 1664 East Valley Road – a romantic Mediterranean villa where impressive architectural details complement contemporary amenities. On approximately 2 acres, this home boasts 7 bedrooms and 12 baths, with an additional bedroom and 2 baths in the pool house. List price is $13,795,000.

1530 Roble Drive is another 1930 compound on 8 acres. It features a comparable architectural style, charming interiors, romantic gardens, and lush lawns. With an 8 bedroom/10 bath main house, an additional cottage with 2 bedrooms/1 bath, and another guest house with a bedroom and 2 baths, this elegant listing is available for $15,500,000.

Check out the Riskin Associates website for even more incredible listings available in the Santa Barbara area

New Listing! Pristine Sand Point Beach

Another incredible new offering from Riskin Associates! Nestled down a private, gated lane paralleling the breathtaking California coastline, a turnkey mid-century modern home offers a quintessential beachfront lifestyle on coveted Sand Point Beach. Known locally as one of the area’s most desirable beach locations, Sand Point Beach boasts a unique air of privacy, while offering the luxury of an afternoon stroll to charming Santa Claus Lane’s shops and cafes. Meanwhile, Montecito, Summerland and Carpinteria are just a short drive away.

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Upon arrival at the residence, the staggering mountain view is on impressive display. A two-car detached garage and motor court offer ample parking while expanses of glass introduce the vast ocean views and indoor/outdoor atmosphere enjoyed throughout the home. Stepping through the entry door, the interior’s chic, pristine design features include hardwood floors, beamed ceilings, skylights, a sleek fireplace and walls of glass doors opening to a spacious ocean-view lounge deck.

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The eat-in kitchen is defined by expansive ocean, island and mountain views, perfectly complementing the casual atmosphere. Top of the line appliances including Miele, Wolf and SubZero offer a sense of luxury to the chef’s kitchen.

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A cozy reading or television nook with built-in bookshelves lies between the public spaces and the home’s three private bedrooms.

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The inviting master bedroom offers a serene open ambience with abundant doors and windows welcoming staggering ocean and mountain views and accessing the sunny lounge deck. A luxurious ensuite bath and a spacious closet complete the ocean-view master suite.

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Two additional bedroom suites are tranquil retreats for guests, one boasts a private ensuite bath while both offer mountain views and beautiful beamed ceilings. A full bath with shared shower and a laundry room complete this area of the home.

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Outside, the home is surrounded by coastal beauty. From the spacious lounge deck, the glistening Pacific Ocean is an awe-inspiring view, offering a casual yet impressive entertaining space.

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A large glass wall on the western side of the deck keeps the occasional coastal breeze at bay, while creating an outdoor living roomlike atmosphere. Beyond the lounge deck, a spacious lawn and patio beckon afternoon barbecues and lawn games year-round.

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A rare offering for nearby homes, the residence offers easy beach access via a spacious view deck between the lawn
and the sand. The deck enjoys 360-degree views, encompassing the ocean and islands, the entire meandering coastline and the majestic Santa Ynez Mountains, and is ideal for enjoying the “pink moment.” The Santa Barbara coastline is renowned for
brilliant sunsets affectionately referred to as the “pink moment,” when the sun dips just below the oceanic horizon, setting the sky ablaze.

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A home on the sand lures one to endless outdoor activities. Waves break in synchronization, ideal for surfing, kayaking or paddle boarding alongside marine life while the shoreline is a most tranquil host for running, yoga or simply bathing in warm California sun.

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An oceanfront home defined by a casual beach lifestyle, 645 Sand Point Road offers chic, turnkey design in a premier beach location.

645 Sand Point Road
Offered at $9,000,000

Click here for more Information about the Carpinteria area

New Listing! Quintessential Montecito Villa

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Riskin Associates is excited to announce one of our newest listings! World-class scale and grace abound in this near new Montecito Villa, only moments from the shops and restaurants of the upper and lower villages. The exquisite Mediterranean estate enjoys monumental mountain views from nearly every room and throughout the nearly three acres of manicured gardens. Grand entry gates introduce a meandering, palm lined drive leading to a gracious motor court graced with roses. The lushly landscaped property presents the home’s breathtaking façade—a two-story Mediterranean masterpiece accented with Moroccan-style arches, pulling inspiration from southern Spanish architecture.

2733SycamoreCanyon_52The interior begins with a grand, two-story entry foyer that boasts a sweeping staircase and limestone floors. Just off the main hall, a gracious formal dining room offers magnificent mountain and garden views, and abundant natural light.

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The lavish kitchen– with a large center island and state of the art appliances– connects to both a cozy family room with a fireplace and a beautiful breakfast room that looks out to the majestic mountain range. Nearby, the home offers a large bedroom suite, well suited for staff quarters or guest accommodations alike. Downstairs below the main living spaces, an ideal setting for a wine cellar and home theater awaits, providing a fantastic opportunity to create a custom dream.

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The opposite wing of the first floor presents a grand formal living room with lustrous hardwood floors, intricate woodwork on the ceilings and an elegant fireplace as a focal piece. Adjacent to the living room is a warm library with paneled walls clad in bookshelves and another charming fireplace. Additionally, the first floor offers a peaceful home office with a fireplace and French doors to the garden; and a lavish guest suite complete with ample privacy, a walk-in closet and spacious bathroom and an inviting outdoor patio.

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An open galleria spans the upper floor, leading to the glorious master suite. Enormous in scale, Venetian baroque plaster designs reminiscent of Addison Mizner grace the ceilings, plentiful windows frame phenomenal views, and a sitting area sits before a fireplace. With stunning, separate his and hers bathrooms and closets replete with custom details, this room offers an airy, elegant retreat. The galleria leads to two additional bedroom suites, each with its own bathroom and private terrace.

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The enticing guesthouse on the property offers an airy living room, sunny bedroom, bathroom, and kitchenette, making for premiere accommodations with a delightful view of the pool.

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A grand terrace with a large, stone fireplace enjoys views over the property, and surrounded by lush gardens. Every public room on the first floor boasts doors out to this spectacular space, offering a beautiful seating area to enjoy the towering views. Below the terrace is a deluxe pool pavilion with another fireplace, a cooking and dining space, and a lounging area just steps away from the expansive swimmer’s pool.

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Impeccably designed and in pristine condition, this exceptional estate seamlessly welds the best of indoor and outdoor living, and pulls in superlative views while doing so.

2733 Sycamore Canyon Road, Montecito
Offered at $13,900,000

Click Here for more information about the Montecito area