Winter-2022

the property is situated ocean front or with ocean views, or golf front and with golf views, or with sunny valley and vineyard views. “Privacy is often very important for our lux- ury home buyers, as is architectural design, qual- ity of finishes and access to amenities,” Lynch says. “Modern design is in increasingly high demand, and homes close to town, beach, clubs and resorts are very desirable.” Lynch shares that Pitt’s recent Carmel Highlands purchase is an architecturally stunning home set in a magical natural setting. “It is great to have the home owned by someone who appreciates the architecture and will no doubt work hard to preserve it for generations to come,” she says. She explains that the Monterey Peninsula fea- tures different “micro markets” with personali- ties and qualities of their own and each market attracts different types of clients and buyers. “The Carmel Highlands area is known for its natural stunning beauty,” she says. “It is a little more raw and private, and feels a bit more remote.This is ideal for folks who value privacy. At the same time, the Highlands are literally closer to Carmel than parts of Pebble Beach. It’s just 10-15 minutes away from downtown Carmel and you often get a little more view and space for the money. Architecturally, the houses and properties can be very interesting.” Pitt seems to be on trend with his Carmel Highlands purchase: in the last 24 months, home sales in the Carmel Highlands, Big Sur and South Coast areas have more than doubled in volume. That increase in the number of transactions and in total sales volume also holds true for the Carmel and Pebble Beach areas. “For a number of reasons right now, investing in a generational home is very attractive to the affluent,” Lynch shares. “Buyers are most impor- tantly interested in spending time in this idyllic community. At the same time, the financial investment is compelling today because of the volatility of the stock market. Many of our buy- ers are putting money into real estate so that they have diversification from the stock market and in the end, have a physical asset they can pass on to future generations.” 104 C A R M E L M A G A Z I N E • W I N T E R 2 0 2 2 Praised for being built out of material that appears almost the same as the rock upon which it stands, the home has long narrow pieces of stone cut horizontally in uneven sizes that resemble the Carmel Highlands cliffs. In the late ’90s, the house was purchased by Joe Ritchie, a financier from Chicago, who introduced Pitt to the property, welcoming him as a guest. Ritchie died earlier this year.