The “American Riviera,” including Santa Barbara, California and its surrounding towns, is home to some of the country’s most beautiful beaches, mountains, and Spanish influenced architecture. The appeal of the area is why it is consistently one of the highest priced, single-family-home markets in California. In the last year, during an international pandemic, there have been 187 residential home sales between three-and five-million-dollars, averaging only 44 days on the market. Some of these home sales included celebrities, like Meghan Markle and Prince Harry, Ellen DeGeneres, Charlie Puth, Oprah Winfrey, Katy Perry, and Ariana Grande.
Michael Humphrey, owner of Sterling Properties & Estates and active California real estate broker, is at the forefront of maximizing returns for property investors in the Santa Barbara area. Humphrey specializes in short turnaround timelines and delivering high quality standards, which is why investments with three-to-five-million dollars in capital commitment gives a return ranging from 12-to-20-percent in less than a year.
These investment properties include a two-point-three-million-dollar and two-point-seven-million-dollar property that both brought in over 20-percent return on investment.
607 Stone Meadow Lane in Santa Barbara, California is a sprawling 3,634 square-foot home. With four bedrooms, three-and-a-half bathrooms, and sitting on almost an acre of land, this property had a lot of dream home potential. Michael Humphrey helped investors buy the property under its listed market value, but the work did not just stop there. New upgrades included a complete remodel of the main house with all new mechanicals, a new roof, a new one-thousand square-foot guest house, a 20- by 40-foot swimming pool with a Baja shelf, an eight-person jacuzzi, and more. The house was stolen off the market in 2019 for two-point-three-million-dollars and quickly resold in 2020 for four-point-eight million, leaving investors to profit $789,425—which is over 20-percent in return.
252 Santa Rosa Lane in Santa Barbara, California also was subject to Michael Humphrey’s impressive quick turnarounds. This massive 4,494 square foot, six-bedroom, five-bathroom home sits on just over half an acre of land and was a property with architectural significance, designed by the famed team Edwards and Plunkett. The property was purchased under listed market value, which is something Humphrey continues to secure for investors. Upgrades included a complete remodel of the main home, a repaired roof, a replastered swimming pool, a new garage, iron gates, and more. The house was purchased by investors in 2018 for two-point-seven-million-dollars and sold in 2019 for four-point-two million. This quick turnaround left investors with $781,289 in profit—once again, an over 20-percent return.
Michael Humphrey’s started his real estate career in 1997 and was named Rookie of the Year, selling an unprecedented 23 properties in his first year. In his second year of sales, he went from ranking #2,500 in the company to #13, and from #101 to #3 in his marketplace after selling 34 properties that year. Through Michael’s natural sales skills and his extensive background, including Strategic Sales Consultant for Fortune 500 companies and former CEO of Real Estate Investment Group, he has mastered the skills needed for property rehabilitation and knowledge of key real estate marketing tactics.
Through confidential counsel, Michael Humphrey provides strong insight to investors about property details. It is through this counsel that he passes on his strong negotiation skills and purchase strategy that results in securing properties under market value to maximize return on investment. His superior marketing tactics, mixed with his negotiation capabilities, are what result in quick turnarounds and 12-to-20-percent returns for investors.