NJ Commercial Real Estate ONLINE

 by: Gary Woods

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 http://www.hope-ranch-real-estate.com Hope Ranch Real Estate for now……