Hope Ranch Real Estate really got going as a residential project
when Harold Chase started the Santa Barbara Estates and La
Cumbre Estate companies. From the beginning the development was
meant to have equestrian interests as part of the package. It
was said that a person had to be able to ride down his or her
driveway and turn right or left to enjoy the rest of his ride.
To that end Mr. Chase sectioned off the property in parcels
ranging from 1.5 to about 3.5 acres each and with even some
parcels as large as 50 acres.
Every subdivision needs a grand entrance so to that end 360 Palm
trees were planted along what is now Las Palmas drive to serve
as a grand entrance into the ranch. Radiating off of Las Palmas
drive several streets were put in and about 700 lots were carved
up. There are still approximately 20 lots which have not been
developed so opportunity still beckons in the Ranch. Originally
lots in Hope Ranch went for anywhere between $100 to $2,500 and
today there are two lots for sale, one for $3.75 million and one
for $6.475 million.
In 1904 when the Palms were planted the Hope Ranch Park Homes
Association was established. This Association keeps careful
watch on all things Hope Ranch, looking at things like how a
member would develop or alter their property. Taking care of the
miles of horse trails and supervising the private beach facility.
As far as Hope Ranch Real Estate today prices are still
skyrocketing. The good news for those living in Hope Ranch is
that the Average Sales price of those properties which have
closed this year is up 33% over last year. The sold prices have
gone from $2.48 million in '04 to $3.3 million today and it is
the highest priced area in Santa Barbara. The highest priced
home that has closed escrow this year is a $7.95 million dollar
home that has 5 Bedrooms and 5.5 Baths. The least expensive home
that has closed escrow this year is $1.989 millions dollars and
has 3 Bedrooms and 3 Baths. Some other homes that have closed
escrow this year include: * A $6.995 million dollar home with 5
Bedrooms and 8 Bathrooms. * A 5 Bedroom 6 Bath home for $4.995
million * A $4.4 million dollar home with 5 Bedrooms and 5 Baths
* And a 4 Bedroom 5 Bath home for $3.599 Right now the highest
price home for sale in Hope Ranch is listed for $21.5 million
and features over 7 acres of grounds and a 5 Bedroom 5 Bath
home. The least expensive home currently listed is $2.795 and
has 4 Bedrooms and 2.5 Baths. Some other homes currently on the
market include: * A $11.9 million dollar home with 5 Bedrooms
and 8 Baths * A 5 Bedroom 4.5 Bath home for $8.95 * A $7.995
million dollar home with 4 Bedrooms and 4.5 Baths * And a 3
Bedroom 4 Bath home $4.195 million
And that's it for
Hope Ranch Real Estate for now......
About the author:
Gary Woods is a Real Estate Broker in Santa Barbara California
and is the Computer Trainer for the Santa Barbara Association of
Realtors. You can hear him on Radio 1290 AM Mondays from 9-10AM
in Santa Barbara
