Santa Maria Real Estate Blog & Information

6 Tips for Choosing the Best Offer for Your Home

10/22/2010
Seller Info

6 Tips for Choosing the Best Offer for Your Home Have a plan for reviewing purchase offers so you don’t let the best slip through your fingers. Read Visit houselogic.com for more articles like this. Copyright 2010 NATIONAL ASSOCIATION OF…

What is a BPO and how can it Affect a Short Sale?

10/21/2010
Seller Info, Short Sale Info

A BPO is an acronym that stands for Broker Price Opinion. As a part of approving a short sale, a bank will order either an appraisal or a Broker Price Opinion (or both) to determine the market value of the property.

How to Buy HUD Foreclosures in Santa Maria & Orcutt

10/20/2010
Buyer Info, Foreclosure / Bank Owned (REO) Info

First you should find a HUD selling agent, as only HUD selling agents can show and write offers on HUD properties. Mint Properties is a HUD selling agent and can assist you with this process. Sometimes HUD properties are advertised on the local MLS, but I’ve found that often they are not. Typically, HUD homes are listed on Friday and you must check the HUD website to find their newly listed foreclosures.

Can I offer less than the asking price on an approved short sale?

10/19/2010
Buyer Info, Short Sale Info

The answer to this is, yes, definitely. An approved short sale is a short sale where the bank has already indicated acceptable price and terms. As the HAFA program comes into greater usage, we will supposedly see more approved short sales on the market. The HAFA program provides a way for sellers to get an approved price on their short sale before listing it on the market.

7 Steps to a Stress-free Home Closing

10/19/2010
Buyer Info

7 Steps to a Stress-free Home Closing By doing homework in advance, you’ll understand what you’re asked to sign when you close the sale of your home. Read Visit houselogic.com for more articles like this. Copyright 2010 NATIONAL ASSOCIATION OF…

Lompoc Luxury Homes: Foreclosure Real Estate Update

10/18/2010
Buyer Info, Lompoc / Vandenberg Village, Seller Info

Looking at the luxury real estate market in Lompoc California, there are currently 29 homes priced above $400,000 with an average list price of about $592,000 and 145 days on market, and a median asking price of $499,000. Looking at the luxury foreclosure market, there was only one active luxury foreclosure listing and there were 2 available short sales in Lompoc.

How Much Down Payment is Required to Buy a Rental or Investment Property in Santa Maria?

10/17/2010
Buyer Info, Santa Maria

Many investors that I am currently working with in the Santa Maria and Lompoc real estate market are paying all cash for their rental homes. That is why the market for foreclosures is so difficult for Santa Maria home buyers using FHA/VA financing; it is difficult to compete against a cash offer on a foreclosure where the bank wants to make no repairs to the property.

How to Sell A Home with Tenants: 3 Tips

10/16/2010
Seller Info, Short Sale Info

Make sure you know when the lease will end, and when the tenants will begin a month to month tenancy. These are important facts to relay when selling a home with tenants. Investor buyers willl want to know, and other buyer will want to know when the tenants can vacate the property. Also, make sure you know how much notice the tenants are entitled to for showings - a well written lease will include a provision about notice.