How to Buy Short Sales in Santa Maria, CA (Part 1)

Your agent should analyze any short sale listing that you consider offering on. Part of that analysis should be whether there is a second lien holder. There are many short sales that fail; however when you analyze why they fail, often the reason is because a second lien holder is making unreasonable, and sometimes inappropriate demands.
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Can I Buy a FSBO Home with a Real Estate Agent?

Yes you can. In fact, I would always advise a home buyer to have representation when making a purchase, and especially when buying a FSBO (for sale by owner). The issue of compensation can be tackled with the seller at the outset. Most FSBOs seek to save money by not paying a Realtor to represent them in the sale of their home. However, I've found that FSBOs will usually agree to pay a buyer's agent out of their proceeds.
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Santa Maria – Orcutt 2009 Real Estate & Foreclosure Market Update

1275 single family homes sold in Santa Maria and Orcutt in 2009. This excludes PUDs, condos, and manufactured homes. This figure is slightly higher than the 1230 homes which sold last year. 175 condos and PUDs sold during the same period in 2009; compared to 130 units in 2008. So, overall the number of sales in Santa Maria and Orcutt is up.
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Buying a Short Sale with a VA Loan in Lompoc, CA

Are you a military veteran looking to buy a short sale home with a VA loan in the Lompoc, CA area? Short sales can be excellent bargains, and they also offer some relief to the VA buyer who may be experiencing difficulty purchasing a bank owned or REO listing in the competitive Lompoc foreclosure market. The first thing to keep in mind when buying a short sale property is that there are a lot of contingencies involved, and using VA financing can add to those contingencies. So, some short sale agents will advise their client to take a conventional, cash, or FHA offer before a VA offer because they view those loans as easier.
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Santa Maria and Lompoc First Time Buyers, FHA Loan Info

What is an FHA loan? -- Essentially a FHA loan is a loan that is guaranteed by the Federal Housing Administration. Lenders typically do not want to lend unless on a home unless a buyer has a 20% down payment. If there is less than a 20% down payment, mortgage insurance is required. And, in today's market unless you have a credit score at least 720 or above you won't be able to get mortgage insurance.
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Foothill Estates 2009 Update – Lompoc CA Homes and Real Estate

Tucked away in the hills of southwest Lompoc is the charming HOA community, Foothill Estates. The community is broken up into enclaves of duplex style units, with two units attached at one common wall. They have two car garages, and larger back yards than you get in other HOA communities. Amenities include a community pool, spa, and clubhouse. There are 2 and 3 bedroom models which range from about 1100 to 1300 square feet in size. The monthly HOA fees are $145 per month. But what you get for the money can't be beat. The views from this development are breathtaking and unmatched, and if you have a large dog you can't beat having a decent size yard versus the patio that most comparably priced condo units offer.
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