I attended a meeting last week regarding the Recovery and Rebuilding of Montecito, it was very informative. I’m sure many of you are wondering how things are coming along with the efforts to make a normal life out of what happened on January 9 this year.
There will be a neighborhood workshop on May 12th for residents and owners of Montecito. Deborah L. Schwartz of Mesa consulting and Eva A. Turnenchalk of Turenchalk Planning Services will have details of where the meeting will be held and when.
Since the FEMA Flood Insurance Rate Mapping won’t be completed for 3-5 years I would think it may be best to wait and see what shakes out these next few years. Our burn area is still subject to more mud flows for the next 2 years and no one wants to be in the way if that happens again, even if it is a smaller even.
Meanwhile, Montecito real estate is selling strong. There are 12 properties in escrow now as opposed to the 4 sales that closed last month. Values are strong and buyers are buying when the property is habitable. Montecito may have a bit of a stigma for a while but it will recover fully once all the facts are hammered out as to how to rebuild the area.