Lake at River Oaks Home to Jim May Park (an 11 acre park which includes a lake and walking trails) and Ida Redmond Taylor Elementary, the River Oaks development offers an idyllic setting which parallels the Santa Maria riverbed in northeast Santa Maria. Built from 1999 -2003, these homes range from 1400 sq.ft. up to almost 3000 sq.ft. in size. Current asking prices for active and pending homes in the River Oaks development range from $260,000 to $299,900. In the past 6 months, home sales prices in River Oaks ranged from $235,000 – $310,000. A 1400 sq.ft. one story short sale on Cornell Ct. sold for $235,000 and a 2086 sq.ft. two story foreclosure (REO) on Jesselle Ct sold for $310,000. The average selling price was approximately $285,000 after 76 days on market with an average price per square foot of $134. The smaller one story models sold for between $235,000 – $260,000 (there was also one larger one story home on Melanie Ct. which had a 500 sq.ft. addition which sold for $290,000 — but that was the exception not the rule). The larger two story models ranged between $265,000 – $310,000, with an average sales price of about $285,000. The largest home in River Oaks during this period was on Murray Drive and it had 5 bedroom, 4 baths and sold for $310,000.
Click here to search for available homes in the River Oaks development, or if you would like a list of other available Santa Maria homes, send me an email at tni@mintprop.com and request automatic email alerts on new properties as they hit the market in Santa Maria and Orcutt. If you would like a private tour of available homes in River Oaks in Santa Maria, give me a call today at (805) 878-9879.
*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.
There are currently 528 homes for sale in the Santa Maria CA (and Orcutt CA) area. Approximately 250 of those homes are short sales where bank approval is necessary to complete the sale. About 141 of the remaining homes are bank owned / foreclosure listings. Thus, approximately 50 percent of the Santa Maria inventory is short saled, and about 25% is bank owned (REOs). You can search for short sales and REO Santa Maria homes at www.iLoveSantaMaria.com and www.iLoveOrcutt.com.
What is an FHA loan? -- Essentially a FHA loan is a loan that is guaranteed by the Federal Housing Administration. Lenders typically do not want to lend unless on a home unless a buyer has a 20% down payment. If there is less than a 20% down payment, mortgage insurance is required. And, in today's market unless you have a credit score at least 720 or above you won't be able to get mortgage insurance.
