Things are pretty quiet on the Meghan and Harry front. Aside from Harry announcing his support for a new initiative by Her Majesty’s Armed Forces to introduce mandatory mental health training, and rumours of a new law-suit by Harry against Associated newspapers, Harry and Meghan are either taking a break from their charity work or are working away in secret.
So let's talk Real Estate.
This week we heard that Ellen DeGeneres and her partner Portia de Rossi purchased another luxurious property in Montecito where Prince Harry and Meghan Markle currently live. We are told that Ellen and Portia’s most recent purchase is a $49 million estate sitting on over 4.3 acres of land and featuring a 9,000 square-feet main building, a guesthouse, a pool house, a detached garage, and a barn.
Oprah Winfrey already owns multiple homes in the area and earlier this year we heard that singer Katie Perry (a native of Santa Barbara) and her actor husband Orlando Bloom had splashed out $14.2 million on a 6 bedroomed 12 bath roomed home in Montecito. Actor Rob Lowe is also rumoured to have purchased a home there this past fall.
According to an article by Amanda Eberstein published in the Wall Street Journal this week celebrities aren’t the only buyers after Montecito real estate. https://www.wsj.com/articles/celebrities-arent-the-only-buyers-after-montecito-real-estate-11607551226
For celebrities, part of the attraction of Montecito is the fact that it is within 90 minutes drive from Los Angeles. For non-celebrities, families and retirees are attracted by the fact Montecito is a safe community, outside of a city, with good public and private schools, and with access to hiking and beaches.
Ms. Eberstein in her article writes that the on-set of Covid-19 has boosted the area’s desirability, with the real estate market hotter than it has been in the past 18 years. Sales in 2020 are up by over 500% from the same time in 2019, with bidding wars and with houses being snapped up and purchased within days of being listed.
So we know that celebrities can afford to fork out for expensive estates but what about the other end of the market. What are the costs of entry level properties in Montecito? Well I scoured the Montecito real estate websites and I will tell you what I found.
Keep looking out for future podcasts on all things Meghan, Harry and Archie.
And check out my blog at https://www.kindthoughtsformeghanmarkle.com/
Show written and produced by Jeanette Songolo.
Please keep listening for future podcasts on all things Meghan, Harry, Archie and Lili and in the meantime watch out for other posts on all things Sussex on my blog at https://www.kindthoughtsformeghanmarkle.com/