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ON THE RECORD
Nicholas Schou
Nicholas Schou is an award-winning investigative journalist and author of several books, including Orange Sunshine and Kill the Messenger. If you have tips or stories about Montecito, please email him at newseditor@montecitojournal.net
How to Buy Real Estate During a Pandemic
L
ast Friday, I took a guided tour of a charming abode hidden at the end of a long and curving driveway on East Mountain Drive. Located just a block away from the San Ysidro Trailhead, the property included an historical guest cottage (believed to have once belonged to Priscilla Presley), and a home office above a two-car garage offering views of the expansive backyard. Built in 1994, the main house consists of 5,227 square feet and includes six bedrooms and seven bathrooms, one of which has a shower with windows that, for added privacy, can “fog” up at the touch of a button. Listed at $7 million, the mansion was a little bit out of my price range. Actually, it was completely out of my price range, so much so that I couldn’t come anywhere close to even qualifying to view the property in person,
much less make an offer. Although low-interest bank loans make mortgages more affordable than ever nowadays, Montecito is clearly a seller’s market. Fortunately, none of these obstacles applied to me, because my visit to 1845 East Mountain Drive was arranged by the Riskin Partners Estate Group, which invited me to play the part of a prospective buyer and write about what it’s like to buy a home during the COVID-19 crisis. Despite the ongoing health crisis, as an “essential” sector of our local economy, Montecito’s real estate industry remains very much open for business. Riskin’s website currently lists 19 properties in town ranging from $2 million to $20 million, and in the past two weeks alone, the group has been involved in four mul-
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MAURIE McGUIRE | SCOTT WESTLOTORN 805-403-8816 | 805-403-4313 WWW.MONTECITOLAND.COM CALRE# 01061042 | CALRE# 01875690 The property information herein is derived from various sources that may include, but not be limited to, county records and the Multiple Listing Service, and it may include approximations. Although the information is believed to be accurate, it is not warranted and you should not rely upon it without personal verification. Real estate agents affiliated with Coldwell Banker Realty are independent contractor sales associates, not employees. ©2020 Coldwell Banker. All Rights Reserved. Coldwell Banker and the Coldwell Banker logos are trademarks of Coldwell Banker Real Estate LLC. The Coldwell Banker® System is comprised of company owned offices which are owned by a subsidiary of Realogy Brokerage Group LLC and franchised offices which are independently owned and operated. The Coldwell Banker System fully supports the principles of the Fair Housing Act and the Equal Opportunity Act.
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7 – 14 May 2020
