Santa Maria Real Estate Blog

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I’m Seriously Ill — Will that Qualify me for a Short Sale?

Yes, many short sale lenders consider a serious illness a hardship. Receiving a diagnosis of a chronic illness, having a serious health event such as a heart attack, cancer, or a recent diagnosis of a disability that will affect your ability to earn future income, will generally qualify you for a short sale. Potential short sale sellers should provide a personal hardship letter describing the details of the illness and how it requires them to sell their home or how it impacts their ability to pay the mortgage.
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Cherrywood Estates in Santa Maria — Real Estate Market Update

Cherrywood Estates homes are located in the southwest area of Santa Maria California. There are approximately 119 homes in the Cherrywood Estates development and they were built by local builder, Inland Pacific, beginning in 2002 through about 2004. The development offers convenient access to Old Orcutt and Vandenberg Air Force Base by way of Broadway/Highway 135. Nearby developments include Pacific Crest Estates, Westgate Ranch, and Harvest Glen.
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The Rush to Lowball

And what have you told me as the seller when you make a low offer so quickly? You’ve told me that you really do want this house and you recognize that someone else would want it too so you are trying to move quickly. So, then even if I’m not insulted by your low offer, I think I can probably get you to pay a lot more than what you’ve offered -- basically I may think your actions speak louder than that low price.
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Hancock Village Condos in Santa Maria, CA — Real Estate Market Update

The Hancock Village Condos are located in southeast Santa Maria near Marian Hospital, Allan Hancock College, and Trader Joe’s. The Hancock Villagae Condos are located immediately adjacent to the prestigious of Hancock Park subdivision and charming Joe White park. Hancock Village condominiums offer convenient access to Highway 101 and the Five Cities area. Nearby townhome and condominium developments include Stonegate, Casa De Campo, Townhomes East, and the Villas at La Ventana.
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Will My Bank Still Approve My Short Sale If I Owe Twice What My Home Is Worth?

Many homeowners who are severely underwater ask this question. Generally, the reason a bank accepts a short sale is due to the hardship of the seller. It is not because the short sale offer is close to or far from the loan balance. Once hardship is established, the issue becomes the market value of the asset. If market value is half -- market value is half -- there is no way around that.
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Will I Still Owe the Bank Money If I Do A Short Sale?

If you have one mortgage loan on your California home the answer is no. Senate Bill 931 allows that after January 1, 2011, if a lender on a first mortgage accepts a short sale, they are agreeing to waive the deficiency amount. So, if they approve the short sale and it closes, you will not owe your lender any additional money, even though you have not paid back the entire loan balance.
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#1 Agent in Number of Residential Sales Transactions (2016)
in Santa Maria (per CCRMLS)

$125 Million in Career Sales

REALTOR® of the Year (2014)
(voted by Santa Maria Association of REALTORS®)



Tni LeBlanc, REALTOR®, J.D.
Mint Properties
(805) 878-9879 (mobile/text)
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