Santa Maria is hour north of Santa Barbara in the northern tip of Santa BArbara county. We have seen a massive amount of REO business this past year.
In October, the total # of sales were 181 (single family residence) with 121 of those sales being REO properties. Roughly 95% of the remainder of sales were short sales.
November saw a slow down in the # of total sales - 143 with 103 of those properties being REO's.
We have seen the Notice of Defaults being recorded slow considerably but that is due primarily to the banks not filing those NOD's.
If you would like more information on the markets in Santa Maria or San Luis Obispo counties, please call me.
Cheryl Tolan 805.441.0221
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