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Tni LeBlanc, DRE# 01871795
Mint Properties
(805) 9389950 tni@mintprop.com http://www.MintProperties.net
Listed by: Mint Properties |
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2011 Real Estate Market Update -
Santa Maria Home Sales
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Santa Maria CA |
2010 |
2011 |
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Homes Sold |
582 |
596 |
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Average List Price |
$220,329 |
$210,405 |
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Average Sales Price |
$220,241 |
$205,604 |
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Days on Market |
70 |
85 |
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$ per Square Foot |
$142 |
$129 |
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Foreclosures |
243 |
267 |
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Short Sales |
156 |
151 |
Looking at the sales figures for 2011, the average sales price for Santa Maria homes declined about 6.6% and days on market ticked up 15 additional days to 85 days. Of course, the days on market figure includes short sale contingency days, which are the days needed for bank approval of a short sale, so it may not reflect how quickly inventory is being absorbed. That said, there definitely was softening in the Santa Maria real estate market. Surprisingly, the number of short sales did not increase, but instead edged down ever so slightly, and instead foreclosures sales increased by almost 10%. Overall, the total number of homes sold increased by 2.4%
If you are considering selling your Santa Maria CA home and you would like a
comparative market analysis, feel free to contact my office at (805) 938-9950
and set up an appointment. I specialize in short sales and distress sales. If
you are interested in buying a home in Santa Maria CA, I will be happy
to assist you and provide a list of available homes in Santa Maria CA and
the surrounding area.
Tni LeBlanc is an independent Real Estate Broker, Attorney, Short Sale Agent, Certified HAFA Specialist (CHS), and Certified Distressed Property Expert (CDPE) and Short Sale and Foreclosure Resource (SFR) agent serving Santa Maria, Orcutt, Lompoc, Nipomo, and Arroyo Grande on the Central Coast of California.
* Stick built SFRs & PUDs. Zip codes 93454 & 93458. Based on the information from the
Central Coast Regional MLS. The Association, the Multiple Listing Service, nor
Mint Properties guarantees or is in any way responsible for its accuracy. Data
maintained by the Association or its MLS may not reflect all real estate
activity in the real estate market. School district boundaries are subject to change and must be verified with the appropriate authority. Nothing in this article is intended to solicit listings currently under contract with another broker. This article offers no
legal or tax advice and is for information purposes only. Those considering a short sale are advised to consult with their own attorney for legal advice, and their tax professional
for tax advice prior to entering into a short sale listing agreement.
Copyright © 2011 Tni LeBlanc *2011 Real Estate Market Update – Santa Maria Home Sales*
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Overview Maps Photos Features Description VAFB Video Neighborhood IDX Search
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Tni LeBlanc, DRE# 01871795
Mint Properties
(805) 9389950 tni@mintprop.com http://www.MintProperties.net
Listed by: Mint Properties |
|
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As a Santa Maria short sale agent, this is probably the most common question I’m asked by potential short sale sellers. It can easily become the “never-ending term paper,” you know, the one you never start writing? Short sale sellers tend to put off and put off writing their hardship letter. It is a bit different than a loan modification hardship letter, where the purpose is to indicate that you have it hard but you can still afford to stay in the home if your lender makes a few changes to your loan. The short sale hardship letter’s purpose is to tell your lender that you can’t afford your house and you need to sell it. Many short sale sellers have a difficult time writing about the fact that they cannot afford their home.
My advice is to not make the short sale hardship letter any more difficult that it needs to be. The basic format is to first write about when you purchased the home and what your financial situation was like at that time. Usually, there was an event or trigger that then led to the financial difficulty: unemployment, reduction in hours, increase in expenses, etc. Write about that event or series of events and when they began. Be fairly specific about the impact to your income and expenses and if possible attach supporting documentation to your short sale hardship letter. However, the short sale hardship letter does not need to be an epic saga. Most short sale hardship letters that I process are one page in length. They should be signed and dated and list the loan number and property address.
Before deciding whether to short sale your home, it is essential that you obtain legal and tax advice, and consult with an experienced short sale agent. If you are considering a short sale of your Santa Maria, Orcutt, or Nipomo home and would like a short sale consultation, please call my office to schedule a meeting or a telephone consultation at (805) 938-9950.
Tni LeBlanc is an independent Real Estate Broker, Attorney, and Short Sale Agent. She is a Certified Distressed Property Expert (CDPE) and Certified HAFA Specialist (CHS) serving the Santa Maria, Orcutt and Five Cities area of the Central Coast of California.
* Nothing in this article is intended to solicit listings currently under contract with another broker. This article offers no legal or tax advice. Those considering a short sale are advised to consult with their own attorney for legal advice, and their tax professional for tax advice prior to entering into a short sale listing agreement. Mint Properties is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit rating.
Copyright© 2011 Tni LeBlanc *What Should I Say In My Short Sale Hardship Letter?*
Built in the early 1980’s, the Oakridge Park development offers a lush wooded environment that truly makes these homes seem like a retreat even though they offer a central location. They are close to the main shopping hub in downtown Orcutt and are close to restaurants and banking, not mention the fact that they are a short hop from the Foxen Canyon Wine Trail. These condos provide excellent opportunities for first time buyers and for those who wish to downsize. Also, the Oakridge Park Condos are close in proximity to Vandenberg Air Force Base. Nearby developments include Creekside Villas, Cobblestone Creek and Mesa Verde.
Recent Oakridge Park Condo Sales:
| Address | Date | Size | Detail | Sale Type | Sold Price |
| 1458 Oakridge Park Rd | 8/6/10 | 1349 sq.ft. | 2bed/2bath | Short Sale | $205,000 |
| 1438 Oakridge Park Rd | 5/3/10 | 1127 sq.ft. | 2bed/2bath | Foreclosure | $206,700 |
| 1456 Oakridge Park Rd | 1/26/10 | 1127 sq.ft. | 2bed/2bath | Resale | $227,000 |
| 1416 Oakridge Park Rd | 12/7/10 | 1636 sq.ft. | 3bed/2.5bath | Foreclosure | $234,900 |
If you are considering selling your Oakridge Park Condo and you would like a comparative market analysis, feel free to contact my office at (805) 938-9950 and set up an appointment. I specialize in short sales and distress sales. If you are interested in buying a condo in Oakridge Park, I will be happy to assist you and provide a list of available condos in this development and the surrounding Orcutt area.
Tni LeBlanc is an independent Real Estate Broker, Attorney, Short Sale Agent, Certified HAFA Specialist (CHS), and Certified Distressed Property Expert (CDPE) serving the Santa Maria, Orcutt and Five Cities area of the Central Coast of California.
* Based on the information from the Central Coast Regional MLS. The Association, the Multiple Listing Service, nor Mint Properties guarantees or is in any way responsible for its accuracy. Data maintained by the Association or its MLS may not reflect all real estate activity in the real estate market. School district boundaries are subject to change and must be verified with the appropriate authority. Association dues are subject to change. Nothing in this article is intended to solicit listings currently under contract with another broker. This article offers no legal or tax advice and is for information purposes only. Those considering a short sale are advised to consult with their own attorney for legal advice, and their tax professional for tax advice prior to entering into a short sale listing agreement. Mint Properties is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan.
Copyright © 2011 Tni LeBlanc *Oakridge Park Condos in Orcutt — 2011 Real Estate Market Update*
5 Reasons Why Now Is the Time For A Short Sale of Your California Home
1) California Senate Bill 931 (SB 931) – This important new law went into effect on January 1st. It requires that first mortgage lenders forgive the deficiency when they accept a short sale on a dwelling with up to 4 units. (The deficiency is the difference between what was owed on the mortgage, the expenses of sale, and the amount it was sold for during the short sale). Without the protections of SB 931, an individual short sale seller had to make sure that the bank forgave the deficiency in the short sale approval. Often, as a matter of policy, national banks would refuse to remove this possibility – leaving short sale sellers in limbo. That uncertainty has been removed when dealing with a first mortgage lender in California by this new SB 931 legislation.
2) California Senate Bill 458 (SB 458) - Just signed into law by Governor Jerry Brown on July 15, 2011 and effective immediately thereafter, it prevents junior lien holders who have accepted a short sale from pursing a deficiency against the short sale seller. This law expands the protection provided in Senate Bill 931, and is a major development in the area of short sales. And, I think it makes the case in favor of short sale vs. foreclosure for many distressed California homeowners. Now if the short sale is accepted, there is no more threat of a deficiency trailing behind most short sale sellers.
3) Tax forgiveness on principal residences. Under the federal Mortgage Forgiveness Debt Relief Act of 2007, sellers have a limited window of opportunity until the end of 2012 for potential tax forgiveness on the short sale of their principal residence. Also, California state tax relief is limited as well until January 1, 2013. It is possible that these favorable tax laws could be extended, but they also could not be extended, making 2011/2012 an opportune time to short sell your home.
4) Recent HAFA Updates – The government HAFA program has been revised (effective February 1, 2011) to make processing a short sale smoother under the HAFA. Participant servicers are no longer required to verify financial information (although they still may if they wish), caps have been removed from amounts that second mortgage lenders can receive (giving more room to negotiate a deal everyone will agree to), the subject property can be rented for up to 12 months prior to the Short Sale Agreement if it was previously the seller’s principal residence, and the time period for lender response to offers has been tightened.
5) You’ve had enough. – This may be the most important reason. Often, I meet with clients who are considering a short sale and when we begin to discuss things, I discover they have been in financial distress 
for 3 or more years. If your home is massively underwater and you have financial hardship, the sooner you put it behind you the sooner you can begin your new life. If you short sell your property, you may be able to get a new loan in 2 – 3 years under current FHA and Fannie Mae guidelines. The sooner you complete the short sale the sooner that clock begins.
Before deciding whether to short sell your home, it is essential that you obtain legal and tax advice, and consult with an experienced local short sale agent. If you are considering a short sale of your Santa Maria, Orcutt, or Nipomo home and would like a short sale consultation, please call my office to schedule a meeting or a telephone consultation at (805) 938-9950.
Tni LeBlanc is an independent Real Estate Broker, Attorney, and Short Sale Agent. She is a Certified Distressed Property Expert (CDPE) and Certified HAFA Specialist (CHS) serving the Santa Maria, Orcutt, Nipomo and Five Cities area of the Central Coast of California.
The Knollwood Terrace condos are a cluster of condos in Orcutt, located off of South Bradley Road and East Foster Road. Low HOA dues include water, trash, insurance, exterior maintenance and more. There is also a pool and clubhouse for resident use. This development is close to shopping, banks, and restaurants. Excellent for first time buyers. The Knollwood Terrace Condos are also in close proximity to Vandenberg Air Force Base.
Recent Knollwood Terrace Condo Sales:
| Address | Date | Size | Detail | Sale Type | Sold Price |
| 1152 Hilltop Rd #A | 5/5/11 | 1125 sq.ft. | 3bed/2bath | Regular Sale | $189,900 |
| 1173 Sumner Pl #D | 1/21/11 | 1276 sq.ft. | 3bed/2bath | Short Sale | $150,000 |
| 1160 Sumner Pl #B | 6/27/11 | 1012 sq.ft. | 2bed/2bath | Foreclosure | $145,500 |
If you are considering selling your Knollwood Terrace Condo and you would like a comparative market analysis, feel free to contact my office at (805) 938-9950 and set up an appointment. I specialize in short sales and distress sales. If you are interested in buying a home in Knollwood Terrace, I will be happy to assist you and provide a list of available condos in this development and the surrounding Orcutt area.
Tni LeBlanc is an independent Real Estate Broker, Attorney, Short Sale Agent, Certified HAFA Specialist (CHS), and Certified Distressed Property Expert (CDPE) serving the Santa Maria, Orcutt and Five Cities area of the Central Coast of California.
* Based on the information from the Central Coast Regional MLS. The Association, the Multiple Listing Service, nor Mint Properties guarantees or is in any way responsible for its accuracy. Data maintained by the Association or its MLS may not reflect all real estate activity in the real estate market. School district boundaries are subject to change and must be verified with the appropriate authority. Nothing in this article is intended to solicit listings currently under contract with another broker. This article offers no legal or tax advice and is for information purposes only. Those considering a short sale are advised to consult with their own attorney for legal advice, and their tax professional for tax advice prior to entering into a short sale listing agreement. Mint Properties is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan.
Copyright © 2011 Tni LeBlanc *Knollwood Terrace Condos in Santa Maria, CA — Real Estate Market Update*
Top 5 Mistakes Short Sale Sellers Make
As a Santa Maria Short Sale Agent, I see short sale sellers make critical mistakes time and time again. Here is my list of the top 5 mistakes I see:
1) They wait too long to put the home on the market. Many times sellers believe that they will work out terms with the bank and their loan modification will be approved. However, if your back up plan is a short sale, you need to leave enough time for an agent to get an offer and present it to the bank. Less than a week is generally not enough time to get a lender to stop a foreclosure sale — it can be done — but you are taking a big risk. If you want a short sale, you need to give your agent enough time to present a short sale application to the bank. There are routine delays with short sales; banks lose documents and packages have to be re-faxed. Don’t wait until it is down to the wire.
2) They let the house fall apart. You should do all you can to make sure that your home does not fall into disrepair. A house with uncut grass and full of deferred maintenance is generally not appealing to buyers. And you still have to sell your home to a buyer. You can lower the price to compensate and attract a bargain hunting buyer, but ultimately the lender has to approve that price. And in my experience, a short sale lender’s estimation of value tends to assume that your home is in above average condition. Indeed, one of the most common reasons a short sale will fail is “the bank wants too much for it.” Now there could be other reasons that the bank wants too much (including the existence of mortgage insurance) but often the short sale lender will not want to take a hit on the price just because you decided not to repair that roof leak.
3) They make the home difficult to be shown. Many short sale home sellers are not happy about selling their home. Some are angry because efforts at a loan modification with the lender have failed. However, making the home difficult to be shown will not help the situation — in fact, if you don’t have an offer on your home, it could put you in a jam down the road. If the bank determines that you are deliberately delaying the short sale, and you have not been making payments, often they will simply continue the path toward foreclosure. Also a listing that is difficult to be shown gains a reputation among agents, so don’t assume that agents will begin eagerly showing your home again after you’ve spent months running them around about showing appointments.
4) They take too long to present the short sale application to the bank. Short sale sellers must remember that the buyer is waiting for the short sale to be approved as well. They have to put much of their personal life and their entire financial life on hold to buy a home in today’s lending environment They have concerns on their end as well, including when they are going to move, interest rate fluctuations, and the cheaper short sale next door that just hit the market. As a short sale seller, you should do your part and have your hardship letter and financial documents ready. Ideally, you should have all material for the short sale application ready to go when you put the home on the market.
5) They select the wrong short sale agent. Short sales are different than regular listings. They generally take twice as long, present unique issues, and require a specialized skill and approach. Some agents have never successfully closed a short sale, or they simply hate them. That is understandable because short sales require a certain level of experience, determination and tenacity. They are not easy listings to close and I believe you must be passionate about short sales to be successful at them. Accordingly, it is important to select an experienced short sale agent that can make it through the long haul, and is prepared to fight it out with the bank for you.
Before deciding whether to short sell your home, it is essential that you obtain legal and tax advice, and consult with an experienced local short sale agent. If you are considering a short sale of your Santa Maria, Orcutt, or Nipomo home and would like a short sale consultation, please call my office to schedule a meeting or a telephone consultation at (805) 938-9950.
Tni LeBlanc is an independent Real Estate Broker, Attorney, and Short Sale Agent. She is a Certified Distressed Property Expert (CDPE) and Certified HAFA Specialist (CHS) serving the Santa Maria, Orcutt and Five Cities area of the Central Coast of California.
* Nothing in this article is intended to solicit listings currently under contract with another broker. This article offers no legal or tax advice. Those considering a short sale are advised to consult with their own attorney for legal advice, and their tax professional for tax advice prior to entering into a short sale listing agreement. Mint Properties is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit rating.
Copyright© 2011 Tni LeBlanc *Top 5 Mistakes Short Sale Sellers Make*
| Address | Sold Date | Size | Detail | Sale Type | Sold Price |
| 1754 Bilbao Dr. | 6/28/11 | 2038 sq.ft. | 3bed/2.5bath | Foreclosure | $231,000 |
| 1747 Bilbao Dr. | 5/27/11 | 1674 sq.ft. | 3bed/2bath | Builder Sale | $260,000 |
| 1714 Bilbao Dr. | 4/15/11 | 1674 sq.ft. | 3bed/2bath | Short Sale | $260,000 |
| Address | Sold Date | Size | Detail | Sale Type | Sold Price |
| 1712 Alcala Dr. | 6/30/11 | 2384 sq.ft. | 3bed/3bath | Short Sale | $325,000 |
If you are considering selling your La Ventana home (either as a traditional sale or short sale) and you would like a comparative market analysis, feel free to contact my office at (805) 938-9950 and set up an appointment. If you are interested in buying a home in La Ventana or another gated community on the Central Coast, I will be happy to assist you as well.
Tni LeBlanc is an independent Real Estate Broker, Attorney, Short Sale Agent, Certified HAFA Specialist (CHS), and Certified Distressed Property Expert (CDPE) serving the Santa Maria, Orcutt and Five Cities area of the Central Coast of California.
* Based on the information from the Central Coast Regional MLS. The Association, the Multiple Listing Service, nor Mint Properties guarantees or is in any way responsible for its accuracy. Data maintained by the Association or its MLS may not reflect all real estate activity in the real estate market. Nothing in this article is intended to solicit listings currently under contract with another broker. This article offers no legal or tax advice and is for information purposes only. Those considering a short sale are advised to consult with their own attorney for legal advice, and their tax professional for tax advice prior to entering into a short sale listing agreement. Mint Properties is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan.
Copyright © 2011 Tni LeBlanc *La Ventana in Santa Maria CA — April – June 2011 Real Estate Market Update*
Los Cabos homes have two car garages, stucco exteriors, and tile roofs. These homes were built beginning in the late 1980’s and early 1990’s and there is no home owner’s association or dues for the Los Cabos area. These homes are close in proximity to Albertson’s, Food Maxx, Starbuck’s and the Natural Cafe. Nearby neighborhoods include Traditions at Bradley Square, Harvest Ranch, and the gated community of Arbowalk.
Recent Los Cabos Home Sales:
| Address | Date | Size | Detail | Sale Type | Sold Price |
| 504 Playa Blanca | 4/29/11 | 1341 sq.ft. | 3bed/2bath | Foreclosure | $222,500 |
| 503 El Nido Ct. | 4/18/11 | 1341 sq.ft. | 3bed/2bath | Foreclosure | $199,000 |
If you are considering selling your Los Cabos Home and you would like a comparative market analysis, feel free to contact my office at (805) 938-9950 and set up an appointment. I specialize in short sales and distress sales. If you are interested in buying a home in Los Cabos, I will be happy to assist you and provide a list of available town homes in this development and the surrounding area.
Tni LeBlanc is an independent Real Estate Broker, Attorney, Short Sale Agent, Certified HAFA Specialist (CHS), and Certified Distressed Property Expert (CDPE) serving the Santa Maria, Orcutt and Five Cities area of the Central Coast of California.
* Based on the information from the Central Coast Regional MLS. The Association, the Multiple Listing Service, nor Mint Properties guarantees or is in any way responsible for its accuracy. Data maintained by the Association or its MLS may not reflect all real estate activity in the real estate market. School district boundaries are subject to change and must be verified with the appropriate authority. Nothing in this article is intended to solicit listings currently under contract with another broker. This article offers no legal or tax advice and is for information purposes only. Those considering a short sale are advised to consult with their own attorney for legal advice, and their tax professional for tax advice prior to entering into a short sale listing agreement. Mint Properties is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan.
Copyright © 2011 Tni LeBlanc *Los Cabos Homes in Santa Maria, CA — Real Estate Market Update*
