The community of Montecito, located just south of Santa Barbara, is an outgrowth of a real resort area to which wealthy people flocked to during the late 1800s, attracted by the mild climate, mineral hot springs and mountain and ocean vistas. The Montecito Inn is unique among Santa Barbara's landmarks. Located two blocks from the beach, the Inn was built in 1928 by silent screen legend Charlie Chaplin as a haven for Tinsel Town celebrities. The hotel is a product of Hollywood's Golden Era.
While Montecito's reputation as an enclave for the rich and famous may conjure up images of museum-like stores with price tags that defy gravity, the fact is that kind, welcoming residents do all their work, shopping and go about their daily lives in this wonderful community. The two shopping districts, Village Road and the Upper Village, are products of their location and their history. The area has many great houses on large real estate properties with lush lawns, shrubs and trees. Montecito real estate options consist of single-family detached homes, estate properties, condominiums and townhouses.
Montecito's real estate is some of the most exclusive in California, offering a beautiful assortment of real estate and homes. Condominiums and townhouses start from $1 million for multi-level units offering elegantly landscaped yards. Single-family homes start around $1 million for smaller homes located on tree-lined streets within walking distance to the beach and range up to $27 million and more for large estate properties with acreage featuring spectacular California mountain and ocean views. Land lots are also available for custom real estate development.
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Montecito Real Estate Stats and Trends for the week of May 23rd, 2016: homes priced around $5,495,833 compared to $3,525,588 the previous week, showing a increase of more than +36%. For Tuesday, May 24th, the current national mortgage rate for a 30 year fixed mortgage is 3.64%; the 15 year fixed rate is at 2.76%. For a loan larger than conventional conforming loans, or 'jumbo' loan, the 30 year rate is 4.24%, while the 15 year jumbo rate currently is at 3.92%. You can calculate your mortgage rate with our mortgage calculators. Get local info and homes for sale in Montecito CA. View active real estate listings for different types of properties including new homes, houses for sale, foreclosures, short sales, and price reduced listings. Find information and property resources including prices of recently sold homes, neighborhood information, crime stats, home values, and schools in Montecito to help you find the best home!