IN PROSPEROUS ERAS of the past, sprawling estates with long, winding driveways, guest cottages and amenities were built and handed down through the generations. Some, like a 1920s ‘castle’ in San Diego or Linden Hill, a property nearly the size of a French village along Philadelphia’s Main Line, were designed by celebrated architects of their time. Rarely have these legacy homes come on the market – until now.
While the residences’ vast acreage and square footage were initially considered assets, in recent decades many homeowners with smaller families didn’t necessarily need the space or want to maintain such grand holdings. But COVID-19 changed some clients’ cravings, says Sean Matthews of Compass Real Estate in Santa Barbara. “That level of buyer is now looking strategically for a property that suits those pandemic-generated needs for privacy and safety.” One of his listings, the US$109 million Rancho Cariñoso owned by the descendants of an oil tycoon, is zoned to stable horses, something that is hard to come by with a new build.
