September 2008 - Santa Maria CA Real Estate Blog & Information, REALTOR® Selling Santa Maria CA Homes

Orcutt CA Condo Foreclosure Market Update (REOs & Short Sales)

09/16/2008
Foreclosure / Bank Owned (REO) Info, Santa Maria

There are approximately 34 active or contingent condo listings in the Orcutt CA area, and the average list price centers around $220,000. This does not include HUD properties, which are not listed on the MLS, or for sale by owner units. The most expensive Orcutt condo currently listed is a 2 bedroom 2 bath luxury townhome unit in Foxenwood Garden Villas which is selling for about $699,900. Contrast those prices with the nearby Santa Maria condo market which has about 52 active or contingent listings with an average price around $140,000, with the most expensive being a luxury townhouse in Somerset Gardens listed at $385,000.

How to Buy HUD Home and Condo Foreclosures on the Central Coast

09/12/2008
Central Coast Real Estate

San Luis Obispo and Santa Barbara Counties have seen a dramatic increase in foreclosure and pre-foreclosure listings. Bank owned and short sale listings currently dominate and/or drive many of the local markets here on the central coast, and along with that we are beginning to see more HUD homes for sale. HUD homes (or condos) are properties that have gone through foreclosure and been taken back by the federal agency “HUD” (U.S. Department of Housing and Urban Development) which insured the original defaulted mortgage.

Rice Ranch, Master Planned New Home Community in Orcutt California

09/07/2008
Santa Maria

Rice Ranch is a master planned commmunity of new homes and condos in Orcutt California. On Labor Day, I visited the models at Rice Ranch in nearby Orcutt, California. Rice Ranch is a master planned community which will have new single family homes, high end condominiums, and a 26 acre sports complex and community park. The Orcutt California community will have over 300 acres of preserved open space. After viewing the master planned community, “Summerlin,” in Las Vegas over the Labor Day weekend, I was sold on the concept of a master planned community and curious to see how Rice Ranch was turning out.