Most of executive and luxury homes in the Santa Maria area are in the unincorporated area of Orcutt which is located to the south of the city of Santa Maria. From the secluded affluence of Lake Marie Estates, the tony gated community of Elkhorn Estates, to a variety of high end horse properties, Orcutt has a lot to offer the executive and luxury home buyer. In Orcutt you can still obtain a rustic casual elegance or a satisfying surburban sophistication. With great test scores for their schools, a Farmer’s Market every Tuesday, and the revitalization of downtown “Old Orcutt” as a walkable core with shops and restaurants, many would choose no other spot to live on the Central Coast.
There are currently 186 active or contingent homes and condos in and around the Orcutt area. Approximately 33 of those are REOs (bank owned properties), and 78 are short sales. In the month of December 2008, approximately 41 homes sold in the Orcutt area, with a low of $206,330 and a high of $820,000. The average price of a resale home in Orcutt was around $365,000, compared to an average of about $220,000 in Santa Maria during that same period. Of the 41 homes that sold last month in the Orcutt area, 19 were foreclosures (REOs) and 4 were short sales.
In the popular Foxenwood Estates area, there were approximately 6 re-sales in December, with an average selling price of $585,000. They ranged from a $474,000, 2600 sq. ft. home built in 1985 (which needed updating) to a fully updated and upgraded 3300 sq. ft., 4 bedroom, 3 bath executive home on a lot just shy of an acre which sold for $820,000. As the Foxenwood Estates homes were built beginning in the late 70’s, many need updating to the kitchen and baths. The homes that have not been updated tend to sell for less, but they provide an opportunity for a new owner to purchase a home in a desirable area at a lower tax basis and then customize it to their taste. For those who want the area, but desire a little less space, there are also re-sale townhomes in Foxenwood Estates, which offer floor plans around 2000 sq. ft. and are priced starting just shy of $300,000. Newly built townhomes in the area are priced between $500,000 – $600,000.
The entire Santa Maria area has been severely impacted by the foreclosure crisis. Here and there, opportunities to obtain luxury and executive homes at foreclosure prices arise. Currently, there is a 2900 sq. ft. foreclosure in the Foxenwood Estates area priced at $459,900; it was built in 1977 and is need of updating and new flooring. There are two short sales (pre-foreclosures) in executive level homes as well. One in Elkhorn Estates priced at $989,000, and a home in Westrails Estates (which offers equestrian facilities) priced at $895,000.
If you would like a list of available executive and luxury homes in the Orcutt area, please send an email request to me at tni@MintProp.com, or search the local MLS on my websites www.iLoveOrcutt.com, www.SantaMariaRealEstateSearch, or www.BuySantaMariaForeclosures.com. Each site offers a different method to searching for property. Also, if you are interested in selling your Orcutt home, please visit my site www.SellMyOrcuttHome.com and I will provide you with an evaluation of your home’s current market value.
*Based on the information from the Central Coast Regional MLS. 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.
In July 2006, Mint Properties opened an office in the Mission Creek Plaza on Santa Maria Way. Tni’s stated aim is to offer the highest quality representation and professional service to her clients. Independence affords her the ability to avoid a volume driven approach; the result is prompt, reliable, individualized service coupled with straightforward advice. Indeed, she brings the same level of professionalism to real estate as she did to the law.
Nestled between May Grisham Elementary and Highway 135 is a strip of cute little townhomes known as the Orcutt View Park Condos. These homes offer 3 bedrooms, two baths, a one car garage, and a birds eye view of community sporting events held in the sporting fields next to the school. They are about are about 1400 sq. ft. in size and the association dues are about $180 per month. Most of the townhomes offer a small patio and backyard. For those who wish to commute to Vandenberg AFB, the location is ideal; the commute time is about 15 minutes to the main gate.
Contingent short sales are all over the Santa Maria market. Santa Maria home buyers are always asking me about them. They linger on the market. Often the seller is requesting no more showings. But why? With so many buyers looking for homes and condos in Santa Maria, why do these properties linger on the market? The answer is of course bank delay
La Ventana is a community of single family homes and luxury townhomes in northeast Santa Maria; its location is ideal for those who need to be near Marian Medical Center and the surrounding medical office complexes. Local builder, Inland Pacific, began selling homes in the La Ventana development around 2005 and because these Santa Maria homes were sold new during the height of the housing boom, many if not most of the recent re-sales in the development are foreclosures or distress sales.
