Just 92 miles north of Los Angeles, one of the many reasons the area is such a favorite with both tourists and residents is its climate. The city of Santa Barbara lies in a low coastal valley between the Santa Ynez mountains and the Pacific Ocean. It has a unique east-west coastline (the only one from Alaska clear down to Cape Horn). This combination, along with the protection offered by the Channel Islands off Santa Barbara's coast, shelters the area, giving it a year-round Mediterranean climate with about 300 days of sunshine per year.

Celebrities who have primary or second homes in the area include Oprah Winfrey, Jeff Bridges, Carol Burnett, and Kenny Loggins, among many others.

Many people get their first taste of Santa Barbara as students at the popular and well-respected University of California at Santa Barbara, which is located in Goleta, about 12 miles west of the city of Santa Barbara. "UCSB is a community treasure because of the Arts and Lectures Department and events it hosts, such as music entertainment from all over the world," says a local resident and UCSB grad.

Hope Ranch was named for Thomas Hope, the Irish immigrant turned Texas cowboy turned real estate magnate who bought two former Mexican land grants of 6,000-plus acres, part of which make up the community today. Hope Ranch is a community popular with equestrians—there are 26 miles of trails that connect to the sea. "Residents can ride directly from their homes and onto the beach, a rarity in California," says a local Realtor. It's an elegant community with luxuriant landscaping and streets lined with palms, some more than 80 years old and stretching 60 feet toward the sky. Many of the majestic estates in Hope Ranch were designed by the most famed architects of the turn of the century. The population of this prestigious and exclusive community is only about 700.

Montecito translates as "little mountains, little forest." It's therefore the perfect name for this community, with its winding, tree-shaded roads and numerous colorful gardens that give it a bit of English countryside flavor. Wealthy easterners began to move here in the late 1800s, attracted by its hot springs with its purported health benefits. Among the ultra-rich who became part-time residents were the Rockefellers, Carnegies, Fleischmanns, Duponts, and McCormicks. These newcomers designed and built their estates influenced by the residential styles of a variety of European countries, including Spain, France, Italy, and England. Today, you'll find stunning contemporary homes among them.

A third prestigious area is known as the Riviera, because it so resembles its European counterpart. "Homes in this area overlook all the red tile roofs, the entire city, all the way to the harbor, the Channel Islands, and beyond," says a Realtor.

Young families love the region because it is largely undisturbed by the pressures of urban activity. Because the valley is only a couple of hours drive to West Los Angeles, it is popular with people who work in the entertainment business. "With the advent of the Internet and other high-tech tools they can telecommute from here and only have to drive to the city a couple of days a week," the Realtor says. "We also attract a lot of airline pilots because of their schedules." The valley is a center of equestrian activity, including thoroughbred breeding. "We have some of the most beautiful horse ranches in the state," he says, adding that the late Ronald Reagan, whose ranch was on a mountaintop near the Santa Ynez Valley, had the white stallion that was given to him by the president of Mexico trained in the valley.

Other celebrities who have first or second homes in the valley include actresses Cheryl Ladd and Bo Derek, musician David Crosby, Doc Severinsen of Johnny Carson fame, and actor John Forsythe, best known for his major role in the popular 1980s television show, "Dynasty." The region's most famous resident is Michael Jackson, whose Neverland Ranch is near the Santa Ynez Valley town of Los Olivos.