A very nice home in Santa Barbara sold today for 1.2M. 3,377 sf, huge (by CV standards) back yard, spectacular view. This is exactly the type of home I’ve been watching the closest. 2 years ago, this house would probably sold for 1.4M (or more if he got lucky right at the peak). This type (very desireable) of property has been extremely sticky coming down. This, however, could be a nice comp to start things down.
