There is intense competition for homes in the Santa Maria and Lompoc markets, especially for homes priced under $300,000. There simply aren't enough homes for interested buyers. It is not unusual when competing for a home to go up against 12 - 15 other buyers. And, some are pulling no punches whe
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02/05/2010
Private Park at Edgewood The Edgewood Homes in Orcutt are a delightful collection of one and two story homes just west of Bradley Road and north of Union Valley Parkway, adjacent to the Oak Knoll neighborhood and St. Joseph High School. These homes are located in the Orcutt school district and
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02/05/2010
Natural History Museum on South McClelland Street in Santa Maria, CA How many houses are for sale in Santa Maria right now? I get this question all the time. Many buyers feel as if there are no houses for sale in Santa Maria. When I surveyed the MLS this morning, there were 163 houses listed for
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02/04/2010
First time buyers using FHA financing should be aware that the US Department of Housing and Urban Development (HUD) recently announced policy changes that will increase the cost of FHA financing. Soon, the Mortgage Insurance Premium that is required on low down payment FHA loans will increase fro
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02/02/2010
The California Association of Realtors Housing Affordability Fund announced the creation of a Mortgage Protection Plan for first time home buyers. This program was developed to give first time buyers some incentive to buy homes in an uncertain economy. Although buyers don't seem as if they need a
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01/31/2010
Short sales are not typical sales by any stretch of the imagination. In a short sale, the seller asks the bank to allow a sale even though they owe more on the mortgage than the property is worth. Accordingly, the seller is not permitted to take any proceeds from a short sale. In a "normal" sale,
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01/31/2010
Local teachers in Santa Maria & Lompoc may be eligible for the home ownership loan programs available through the California State Teachers Retirement Program ("Cal STRS'). Eligible participants can apply for several different loan options which can increase borrowing power and lower down payment
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01/31/2010
Are short sales never ending bidding wars? Yes, they can be. In general, short sales are some of the most frustrating transactions for sellers and buyers. And, it is almost inevitable in this market that buyers will consider a short sale while looking for a new home. The market is simply loaded w
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01/31/2010