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River Oaks River Oaks is a newer subdivision of homes located in northeast Santa Maria. Building began around 2001 and there are at least 5 different floor plans. The subdivision is home to Taylor Elementary School which lies at the center of the development, a man made lake, and direct access to riverbed adjacent biking and walking trails. There are two one story plans, both are smaller 3/2 homes at about 1400 sq.ft. and 1600 sq.ft.; the two story plans begin at about 1900 sq.ft. and go up to at least 2700 sq. ft., depending on the options the original (0 comments)
Buying Central Coast Foreclosed Properties at Auction - 02/27/09 08:11 AM
I attended a foreclosed home property auction hosted by Hudson & Marshall in Ventura last evening (February 24, 2009). Fortunately, my client was successful in his bid so it was worth the trip down for both of us. He was also able to save about $80,000 off the list price of the property. It was an exciting event and we were both still on a high while we waited with the other winners to sign contracts. All the winning bids are subject to investor/bank approval which will take about 5-7 days to obtain, so we will know if the deal will (0 comments)
Bank Owned Bidding Wars in the Santa Maria - Orcutt CA Foreclosure Market - 02/22/09 09:06 PM
Is it a great time to buy? Yes. Interest rates are at historic lows, Congress just passed an $8000 tax credit for first time buyers, and prices just keep getting better and better. There are plenty of folks who are taking advantage of this opportunity. As such, jumping into the current market for foreclosure properties in Santa Maria - Orcutt CA can be a rude awakening for potential buyers who must compete for homes in this "buyer's market." REOs comprise the majority of sold properties in the Santa Maria and Orcutt housing market. The market is clogged full of short sale (0 comments)
Santa Maria CA Short Sale Buyer Information - 02/20/09 03:06 PM
With the majority of single family homes and condos being listed as "short sales" in the Santa Maria CA and Orcutt CA market, buyers are considering this type of listing more often. A "short sale" is a property listing where the owner owes more than the homes' current value, but still desires/needs to sell. Unfortunately, this is not an uncommon position for sellers in Santa Maria CA. Due to the wild swings in property values caused by the housing boom and bust, many homeowners find themselves in this position. While many attempt loan modification, for owners who must sell due to (0 comments)
Santa Maria CA Foreclosure Buyer Alert - $8000 First Time Home Buyer Credit Approved - 02/14/09 07:44 AM
If you are sitting on the fence about buying, Congress just gave you another reason to jump into the market for foreclosures in Santa Maria, CA. According to James Liptak, President of the California Association of Realtors, the recently passed stimulus bill modestly increases the first time home buyer credit from $7500 to $8000. But more importantly, buyers now do not have to pay the credit back as long as they stay in the home a minimum of 3 years. The bill also extended the time period for this credit through the end of the year. This is fantastic news for (0 comments)
Mission Creek Village Condos vs. Oak Creek Villas (Santa Maria CA & Orcutt CA Condos) - 02/11/09 11:18 PM
The Mission Creek Condos and Oak Creek Villas were built by local builder, Inland Pacific, who is also currently finishing up Pacific Crest in Westgate Ranch. Oak Creek and Mission Creek offer the same basic floor plans and amenities; however, there are subtle differences for buyers to consider. Oak Creek Villas condos are slightly older; they were built beginning around 2001. Mission Creek condos are slightly newer as building began around 2004. Both offer two floor plans: a 2 bedroom/2 bath unit and 3 bedroom/2 bath plan, each with room for a stackable washer dryer. The square footage of the 2 (0 comments)
Arroyo Grande CA 2008 Market Update & Free MLS Listing Search - 02/10/09 07:37 AM
In 2008, a total of 276 homes and condos sold in Arroyo Grande, CA. 243 were single family homes, and 33 were condos or in planned unit developments. Average home price was approximately $648,000, $331 per sq ft., and sold after 130 days on market. 54 of the sales were bank owned properties (REOs), and 10 were closed short sales. So, a significant amount of sold listings (a little over 20%) were foreclosure related. The lowest resale home price was a 2 bedroom, 2 bath, bank owned twin home in an age restricted community that was 1064 sq. ft. and sold (0 comments)
Lompoc CA & Vandenberg Village CA 2008 Market Update & MLS Listing Search - 02/05/09 11:48 PM
There were a total of 400 homes sold in the Lompoc and Vandenberg Village areas in 2008. 346 were detached dwellings, and 54 were attached residences. Of the 400 sold, 226 were REOs (bank owned) and 31 were short sales. So, a total of 257 out of 400, or 64% were foreclosure related sales. Thus, the Lompoc market is thoroughly dominated by foreclosure activity; it is the primary force moving the market. On average homes sold for $278,000 with 78 days on market. Average price for REOs was about $234,000 with 48 days on market. Closed short sale average was about (0 comments)
Buying Bank Owned Homes (REOs) in the Santa Maria CA & Orcutt CA Market - Should I Use FHA/VA or Conventional Financing? - 02/03/09 03:04 AM
Currently, the market for bank owned properties in Santa Maria CA and Orcutt CA is very competitive. In the last couple of weeks, I placed offers for well priced listings where there were at least 10 other offers. REO listings fly off the market with multiple bidders in just a few days when they are offered in good condition and at the right price. You will tend to see the most intense competition where the bank-seller chooses to fix up properties before they list them. Not many are doing this - but it is happening more and more. "Fixing up" can (0 comments)
2008 Los Alamos CA Year End Real Estate Update & MLS Home Listing Search - 02/02/09 11:38 PM
A total of 20 homes were reported sold in Los Alamos CA in 2008. Sold listings averaged approximately 95 days on market, 1950 square feet, and $209 per square foot. The lowest resale was a ranch style bank owned home built in 2000 on almost a quarter acre which sold for $310,000. The highest sale was a new solar powered home on Foxen Lane which sold for $620,000. The average price of sold homes was about $417,000. Of the 20 homes that sold, 12 were bank owned (REO) listings, and 2 were closed short sales. So, 70% of the sales were (0 comments)
Grover Beach CA 2008 Market Update & Free MLS Listing Search - 02/01/09 11:03 PM
A total of 120 homes and condos sold in Grover Beach in 2008. 87 of those sold listings were single family homes which averaged 101 days on market, 1512 square feet, and about $429,000 as a selling price. Average asking price for listings that sold was around $447,000 for homes, and $405,000 for condos. 33 condos and PUDs sold last year in the Grover Beach market, and the average selling price was approximately $385,000, with a low of $150,000 for a 2 bedroom condo on Manhattan Ave., and a high of $620,000 for a brand new PUD/townhome with ocean views in (0 comments)
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