Central Coast Real Estate Archives - Page 22 of 28 - Santa Maria CA Real Estate Blog & Information, REALTOR® Selling Santa Maria CA Homes

CAR HAF Announces the Mortgage Protection Program

09/30/2009
Central Coast Real Estate, Santa Maria

The California Association of Realtors has announced the creation of a Mortgage Protection Plan for first time home buyers. This program was developed to give first time buyers some incentive to buy homes in an uncertain economy. Although buyers don't seem as if they need any further incentive to buy right now, with bidding wars and multiple offers the usual situation in the Santa Maria and Lompoc markets, when this program was conceived buyers were very hesitant to enter the housing market.

Cal STRS Home Loan Program for Santa Maria & Lompoc Teachers

08/30/2009
Buyer Info, Central Coast Real Estate, Lompoc / Vandenberg Village, Santa Maria

Local teachers in Santa Maria & Lompoc may be eligible for the home ownership loan programs available through the California State Teachers Retirement Program ("Cal STRS'). Eligible participants can apply for several different loan options which can increase borrowing power and lower down payment requirements. Currently, Cal STRS offers a zero down option using a two loan 95% and 5% structure, as well as a low down option using a two loan 80% and 17% structure

Mint Properties Joins the Santa Barbara Coastal Housing Partnership

07/20/2009
Central Coast Real Estate

Recently, Mint Properties joined the Coastal Housing Partnership, an organization set up to help deal with the issue of affordable housing in Santa Barbara County. I am proud to be a part of the work that the Coastal Housing Partnership performs in educating member employees on home buying and helping make the process more affordable overall. Mint Properties offers real estate services in the three valleys: Santa Ynez Valley, Lompoc Valley, and the Santa Maria Valley.

Buying Central Coast REOs (Foreclosures) & Market Trends

07/14/2009
Central Coast Real Estate, Foreclosure / Bank Owned (REO) Info

Appraisal Fears. It appears that banks are beginning to fear appraisals. In the last two months, twice I had banks come back and make my buyer agree that they would stick with the offered purchase price even if the home did not appraise. Frankly, I think this stinks. Buyers are forced to bid up on popular properties, and now they must risk that if the appraisal doesn't come in, they will have to walk away from the property or pay the difference out of pocket. For buyers without a large pool of cash, this in effect will keep them from buying the property.

Mint Properties Offers New Central Coast Foreclosure Property Search

05/26/2009
Central Coast Real Estate, Foreclosure / Bank Owned (REO) Info

Mint Properties announced a new foreclosure search on my website: www.BuyCentralCoastForeclosures.com. Potential buyers can search for pre-foreclosure, auction, and bank owned properties. So, you can find information on properties throughout California once they have a Notice of Default (the first step in foreclosure) filed. Some of these properties are already listed as short sales on the local MLS. Others will only be listed if they complete the foreclsoure process and come back as bank owned properties.

Morro Bay & Los Osos CA Bank Owned Market Update

05/21/2009
Central Coast Real Estate

For those looking for foreclosure bargains in the Los Osos and Morro Bay areas, you may be surprised to hear that the actual number of REOs (bank owned homes) in those cities has remained relatively low. Foreclosures tend to force the rest of the market down, and areas with fewer foreclosures have seen slower and more conservative price recessions than areas that were overloaded by foreclosures. Morro Bay and Los Osos have not had the foreclosure inventory that the beach communities in southern San Luis Obispo county have seen.

Bank Owned (REO) Delays in the Central Coast Market

04/18/2009
Central Coast Real Estate, Foreclosure / Bank Owned (REO) Info

You would think that once a bank found a willing buyer, who won the "highest and best" bidding process for a foreclosure property, they would be hot to close the transaction. Well think again. I've actually had an all cash buyer trying to close in 10 days (or less) and the bank and their escrow company simply were not able to do it! The buyer couldn't believe it, but having dealt with REO properties many times before I certainly could There are several delays that seem to happen time and time again in bank owned purchases:

Clean Up Your Credit Before Shopping for a Central Coast Home

04/04/2009
Buyer Info, Central Coast Real Estate

I've recently found a company that I feel good about referring people to for credit repair. I am often asked for credit repair referrals from prospective buyers. However, until recently I never felt confident sending people anywhere except off to a local book store to learn how to do it themselves -- which is a lot of work. For those who want assistance with their credit repair, please give me a call and I will provide you with contact information for this company. I feel confident referring people to them because they are using local representatives who have long standing relationships with the local community who can provide testimonials of people helped by the service, the price is reasonable at $500, and they offer a performance based gurantee.