Santa Maria Real Estate Blog

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Rice Ranch, Master Planned New Home Community in Orcutt California

Rice Ranch is a master planned commmunity of new homes and condos in Orcutt California. On Labor Day, I visited the models at Rice Ranch in nearby Orcutt, California. Rice Ranch is a master planned community which will have new single family homes, high end condominiums, and a 26 acre sports complex and community park. The Orcutt California community will have over 300 acres of preserved open space. After viewing the master planned community, “Summerlin,” in Las Vegas over the Labor Day weekend, I was sold on the concept of a master planned community and curious to see how Rice Ranch was turning out.
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Santa Maria CA & Orcutt CA Luxury Home, Executive Home, & Golf Course Home Market Update

When looking at the Snta Maria California and Orcutt California market overall, currently there are approximately 700 homes on the market, and approximately 60% of single family homes and condos are either short sales (sometimes referred to as pre-foreclosures) or bank-owned properties (REOs). And, in the past 30 days, approximately 130 single family homes have closed escrow, and about 60% of those were REOs, and around 15% were short sales.
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Selling Your Home as a Short Sale in the Santa Maria CA & Orcutt CA Market

Short sales dominate the Santa Maria and Orcutt CA market. Simply put, short sales are sales where the owner owes more than the house is currently worth. Currently, 50% of the active listings in Santa Maria and Orcutt are short sales. However, 60% of the homes sold in the past 30 days are bank owned homes (REOs), and only 10% of sold homes in the last month were short sales.
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Santa Maria CA & Orcutt CA Bank Owned / Foreclosure Market Update

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.
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How to Buy Home and Condo Foreclosures in Santa Maria, CA

The number one question I'm asked by new clients is "Tni, how can I buy a foreclosure?" The Santa Maria and Orcutt market is full of foreclosed properties right now making it an excellent time to buy. I specialize in helping people buy these types of properties. I am a certified HUD buyer's agent, and I am the exclusive agent for RealtyTrac in Santa Maria, Nipomo & Oceano
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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)
Contact Us Online

Lic #01871795





Certified Military Housing Specialist

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