Santa Maria Real Estate Blog, Author at Santa Maria CA Real Estate Blog & Information, REALTOR® Selling Santa Maria CA Homes

Buying Central Coast Foreclosures: Pre-Qualification Blues

03/03/2009
Central Coast Real Estate, Foreclosure / Bank Owned (REO) Info

Home buyers focusing on central coast foreclosure properties are running up against lender pre-qualification requirements when bidding for bank owned properties. Many of the bank owned (REO) property listings require that potential buyers get pre-qualified with their company in order to place a bid on the property. Countrywide, Wells Fargo and Fannie Mae (Express Path) listings frequently have this requirement.

Taste for Justice — Wine, Beer & Food Tasting Fundraiser, March 7, 2009

03/02/2009
Santa Maria

On March 7, 2009, Legal Aid Foundation of Santa Barbara County will host its 5th annual "Taste for Justice" fundraiser at the Discovery Museum (705 S. McClelland Street) in Santa Maria. This event will features many local winieries who will pour, including Lucas & Lewellen, Cambria Wineries, Fess Parker Winery, & McKeon-Phillips Winery. There will also be a beer tasting featuring Telegraph Brewery and Santa Barbara Downtown Brewing Company. A chef's competition will feature contributions by Allan Hancock College's Culinary Arts students.

Buying An Approved Short Sale in the Central Coast Market

03/01/2009
Buyer Info, Central Coast Real Estate, Santa Maria, Short Sale Info

What is an approved short sale? Let's start with what a short sale is -- a short sale is where the owner owes more on their loan than their home is worth but they still must sell the home. So, the home is placed on the market and offers are accepted -- subject to lender approval. Lender approval can take months to obtain. An approved short sale is a short sale where the seller has already received approval from the bank. So, usually they list the property at a price that the bank has already indicated that they will accept, and they typically indicate how much closing costs credit and any repair credits the bank will allow.

Santa Barbara County Property Tax Informal Assessment Review Requests Due March 15, 2009

02/28/2009
Central Coast Real Estate

For those who wish to request an informal property tax review from the Santa Barbara County Assessors office, the deadline to apply is March 15, 2009. It appears that the dealine for an informal review has moved up two months, as the previous year's form had May 15th as the deadline to apply for informal review. By applying, you can submit comparative sales to help the Assessor's office come up with a reasonable value for your property for tax assessment purposes.

Avila Beach MLS Home Search & 2008 Market Update

02/27/2009
Central Coast Real Estate

There were 18 sales reported on the local MLS in Avila Beach in 2008. The lowest re-sale was a $300,000 manufactured home in Indian Hills, an age restricted park in San Luis Bay Estates. The monthly association dues on that 38 year old unit is about $285. The most expensive home sold during that time period was a 2 bedroom, 3 bath, 2800 square foot home in San Luis Bay Estates which sold for $2.3 million. The average price was $763,500, with an average days on market of about 4 months, and selling for abut 97.4% of list price, for about $07 per square foot.

Stimulus to Fund Santa Maria Levee Repair

02/26/2009
Local Interests / Events, Santa Maria

The Santa Maria Sun reports that local officials have secured an additional $6.7 million to repair the Santa Maria levee. Without repair, Santa Maria homeowners are faced with having to buy flood insurance. In its current state, the levee would…

Buying Central Coast Foreclosed Properties at Auction

02/25/2009
Central Coast Real Estate

I attended a foreclosed home property auction hosted by Hudson & Marshall in Ventura last evening. Fortunately, my client was successful in his bid so it was worth the trip down for both of us. He was also able to save about $80,000 off the list price of the property. It was an exciting event and we were both still on a high while we waited with the other winners to sign contracts. All the winning bids are subject to investor/bank approval which will take about 5-7 days to obtain, so we will know if the deal will stick in about a week.

Village of Northpoint Condos, Orcutt CA Market Update

02/20/2009
Santa Maria

The Village of Northpoint condominium community offers a tucked away feel in the heart of Orcutt to its residents. Located just off Foster Road and within walking distance of both Righetti and St. Joseph's High Schools, this development boasts a pool, clubhouse and tennis courts. Mature trees line the blacktopped streets dotted by clusters of townhomes with blue tinted tile roofs. There are 3 and 4 bedroom plans, each with the bedrooms upstairs and the main living space downstairs.