Today’s information is encouraging. As reported in the MLS, currently in the Santa Maria and Orcutt areas, there are 720 homes on the market, 127 homes that are pending or contingent, and in the past thirty days, 73 homes sold. So, the market is still moving at a steady clip. Inventory had fallen below 700 homes at one time, so it has edged up, I believe in anticipation of the upcoming spring buying season.
The doom and gloom talk about the subprime market has subsided somewhat. People are coming to grips with the fact that some loan products have disappeared. The change evidently happened overnight and there was quite a lot of panic as a result. But people in the industry are now remembering that there are still loan products out there for people who have little or no money for a down payment.
There are a lot of people out there waiting to buy a house. The prices right now look great. And the rates are very good. It is definitely a buyers market with plenty of bargains to be found. I would love to help you find your new home here in the Santa Maria area. I can be reached at 805.878.9879.
* Based on the information from the Central Coast Regional MLS for the 30 days prior to this posting, March 20, 2007. Neither the Association, the Multiple Listing Service, or 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 market.