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

Lompoc CA & Vandenberg Village CA Homes For Sale

11/28/2008
Lompoc / Vandenberg Village

Currently, there are 184 homes for sale in the Lompoc and Vandenberg Village CA areas. Of those 184 homes, 86 are short sales, and 37 are bank owned properties. So, 45% of the market is short saled and 20% of…

Santa Maria CA & Orcutt CA Homes For Sale

11/28/2008
Santa Maria

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.

Nipomo CA Real Estate Market Update & Free Listing Search

10/31/2008
Central Coast Real Estate

The Nipomo California real estate market is piping right along with 15 sales in the last 30 days. Of those sales, 4 were short sales, and 8 were bank owned properties, so foreclosures are the dominating force in that market currently. A total of 143 homes and condos are active or contingent.

Santa Barbara & San Luis Obispo County Foreclosure Mini-Market Update

10/15/2008
Central Coast Real Estate

Are we beginning to turn the corner on foreclosures on the central coast? The number of notices of default ("NODs") filed in both counties marked a sharp decline last month.

Pismo Beach, Arroyo Grande & Grover Beach CA Foreclosure Market Update

10/12/2008
Central Coast Real Estate

There is a tremendous amount of interest in buying second homes in this market. Due to the financial and housing crisis, some are taking the opportunity to buy a vacation home on the central coast. Although, we have most certainly seen significant price reductions, foreclosure activity is relatively low in Pismo Beach, Arroyo Grande & Grover Beach compared to the nearby northern Santa Barbara communities of Santa Maria, Orcutt, & Lompoc.

Buying Bank Owned Properties (REOs) in the Santa Maria/Orcutt and Lompoc/Vandenberg Village Foreclosure Market

10/07/2008
Foreclosure / Bank Owned (REO) Info, Lompoc / Vandenberg Village, Santa Maria

The Santa Maria and Lompoc real estate markets are currently dominated by foreclosure listings. Of the 663 active listings for homes/condos in the Santa Maria - Orcutt area, approximately 25% (165) are bank owned properties (REOs), and about 50% (339) were short sales. Similarly in the Lompoc - Vandenberg Village active market for homes and condos, there are 198 total listings, and 20% (39) were REOs and 40% (81) were short sales. This means that 75% of the active market in Santa Maria and 60% of the active market in Lompoc and its surrounding areas could be classified as either a foreclosure or a pre-foreclosure. Certain trends or practices are becoming fairly routine in this market.

Orcutt CA Condo Foreclosure Market Update (REOs & Short Sales)

09/16/2008
Foreclosure / Bank Owned (REO) Info, Santa Maria

There are approximately 34 active or contingent condo listings in the Orcutt CA area, and the average list price centers around $220,000. This does not include HUD properties, which are not listed on the MLS, or for sale by owner units. The most expensive Orcutt condo currently listed is a 2 bedroom 2 bath luxury townhome unit in Foxenwood Garden Villas which is selling for about $699,900. Contrast those prices with the nearby Santa Maria condo market which has about 52 active or contingent listings with an average price around $140,000, with the most expensive being a luxury townhouse in Somerset Gardens listed at $385,000.

How to Buy HUD Home and Condo Foreclosures on the Central Coast

09/12/2008
Central Coast Real Estate

San Luis Obispo and Santa Barbara Counties have seen a dramatic increase in foreclosure and pre-foreclosure listings. Bank owned and short sale listings currently dominate and/or drive many of the local markets here on the central coast, and along with that we are beginning to see more HUD homes for sale. HUD homes (or condos) are properties that have gone through foreclosure and been taken back by the federal agency “HUD” (U.S. Department of Housing and Urban Development) which insured the original defaulted mortgage.