Both the Villas at La Ventana and Somerset Gardens townhomes were built by a well respected local builder, Inland Pacific, who is currently finishing the Pacific Crest development in the Westgate Ranch area. The townhome floor plans offered in each community are virtually identical. There are three basic floor plans in each. These upscale townhomes offer no maintenance patios, gas fireplaces, and two car garages. The standard features in these communities were very generous, so even units that were not upgraded maintain a very elegant feeling.
Plan A, the only one story unit, is approximately 1600 sq. ft. with 3 bedrooms and 2 baths, and features a “great room” kitchen / family room combination. Plan B, the most popular floor plan, is about 2000 square feet and also offers a great room plan, plus a half bath for guests, and a downstairs master suite. Upstairs is typically a loft area which overlooks the great room, but the floor plan varies some depending on the original owner’s selection and can instead be built out as a walled off bonus room. Two additional bedrooms are upstairs along with a bath. This plan features an impressive sweeping windowed staircase off the main entry. Plan C is also over 2000 sq. ft. and offers a more formal approach to living with a separate dining room and living room off the entry, half bath, and a kitchen / family room combination in back. Depending on the options selected, upstairs features a loft or bonus room (or none), a master suite with a balcony, two additional bedrooms and an extra bath.
The Villas are a part of “La Ventana” built in 2006 – 2007 which feature homes with generous floor plans (2000 sq. ft. plus), a shared community clubhouse and pool, and the luxury townhomes at the Villas. The homeowners pay a monthly association fee of $95 per month, and the townhome owners pay association dues of around $150 per month. La Ventana offers excellent accessibility to Santa Maria’s only hospital, Marion Medical Center and the surrounding medical office buildings. As a result, its location is favored by medical personnel. In addition, La Ventana sits directly adjacent to Santa Maria’s newest high school, Pioneer Valley. When they originally sold, the townhomes were offered in the mid $300,000’s, and then later the low $300,000 range as prices continued to decline with the housing bust. There are now a couple of Plan C short sales offered at around the $250,000 range.
Somerset Gardens was built in 2003 – 2005 and unlike La Ventana, it is comprised exclusively of townhomes. It also offers a community clubhouse and pool, as well as a small putting green for kicks. For those who prefer an “in town” feel, Somerset Gardens offers a prime location within walking distance of grocery stores, new restaurants, and department store shopping. Monthly association dues are $167 per month. When offered new, the prices began in the low $300,000’s and went upward along with the housing boom. Currently, asking prices on re-sales in the development vary from $250,000 to $335,000, with two short sales and one “regular” sale being offered; there is one Plan B available and two Plan As on the market.
*Based on the information from the Central Coast Regional MLS. Neither the Association, the Multiple Listing Service, or Mint Properties guarantees or is in any way responsible for its accuracy. Data maintained by the Association or its MLS may not reflect all real estate activity in the market.
In July 2006, Mint Properties opened an office in the Mission Creek Plaza on Santa Maria Way. Tni’s stated aim is to offer the highest quality representation and professional service to her clients. Independence affords her the ability to avoid a volume driven approach; the result is prompt, reliable, individualized service coupled with straightforward advice. Indeed, she brings the same level of professionalism to real estate as she did to the law.
Today's information is encouraging. As reported in the MLS, currently in the Santa Maria and Orcutt areas, there are 720 homes on the market, 127 homes that are pending or contingent, and in the past thirty days, 73 homes sold. So, the market is still moving at a steady clip. Inventory had fallen below 700 homes at one time, so it has edged up, I believe in anticipation of the upcoming spring buying season.
Are you interested in buying a HUD home in Santa Maria, Orcutt, or Lompoc? You can search for HUD homes by clicking here. Also, you need a registered HUD agent to write an offer on a HUD home. I am a registered selling agent with HUD and I can take you for a tour of any local HUD home, explain the bidding process, and write an offer. These homes are generally not listed on the MLS, so the potential for a buyer bargain is tremendous as they receive less exposure.
The Santa Maria/Orcutt CA market for foreclosure properties is certainly not unique. However, because of media reports on overall trends in the national real estate market, many who venture into the local home buying market are under the misimpression that there are hundreds of cheap houses sitting out there for the picking. That is not exactly how it is currently working. I might say that about the local condo market — but not the market for homes. That is not to say that there are not bargains out there. There clearly are. But, the local market for foreclosed properties is extremely competitive. On one particularly choice recent bank owned listing, the listing agent reported 28 offers in 5 days.