Monthly Archives: February 2009

Santa Barbara County Property Tax Informal Assessment Review Requests Due March 15, 2009

Posted on February 28, 2009 by Tni LeBlanc, JD, MA, CDPE, REALTOR®

For those who wish to request an informal property tax review from the Santa Barbara County Assessors office, the deadline to apply is March 15, 2009. It appears that the dealine for an informal review has moved up two months, as the previous year’s form had May 15th as the deadline to apply for informal review. By applying, you can submit comparative sales to help the Assessor’s office come up with a reasonable value for your property for tax assessment purposes. Continue reading →

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Avila Beach MLS Home Search & 2008 Market Update

Posted on February 27, 2009 by Tni LeBlanc, JD, MA, CDPE, REALTOR®

There were 18 sales reported on the local MLS in Avila Beach in 2008. The lowest re-sale was a $300,000 manufactured home in Indian Hills, an age restricted park in San Luis Bay Estates. The monthly association dues on that 38 year old unit is about $285. The most expensive home sold during that time period was a 2 bedroom, 3 bath, 2800 square foot home in San Luis Bay Estates which sold for $2.3 million. The average price was $763,500, with an average days on market of about 4 months, and selling for abut 97.4% of list price, for about $07 per square foot. Continue reading →

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Stimulus to Fund Santa Maria Levee Repair

Posted on February 26, 2009 by Tni LeBlanc, JD, MA, CDPE, REALTOR®

The Santa Maria Sun reports that local officials have secured an additional $6.7 million to repair the Santa Maria levee. Without repair, Santa Maria homeowners are faced with having to buy flood insurance. In its current state, the levee would … Continue reading →

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Buying Central Coast Foreclosed Properties at Auction

Posted on February 25, 2009 by Tni LeBlanc, JD, MA, CDPE, REALTOR®

I attended a foreclosed home property auction hosted by Hudson & Marshall in Ventura last evening. Fortunately, my client was successful in his bid so it was worth the trip down for both of us. He was also able to save about $80,000 off the list price of the property. It was an exciting event and we were both still on a high while we waited with the other winners to sign contracts. All the winning bids are subject to investor/bank approval which will take about 5-7 days to obtain, so we will know if the deal will stick in about a week. Continue reading →

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Village of Northpoint Condos, Orcutt CA Market Update

Posted on February 20, 2009 by Tni LeBlanc, JD, MA, CDPE, REALTOR®

The Village of Northpoint condominium community offers a tucked away feel in the heart of Orcutt to its residents. Located just off Foster Road and within walking distance of both Righetti and St. Joseph’s High Schools, this development boasts a pool, clubhouse and tennis courts. Mature trees line the blacktopped streets dotted by clusters of townhomes with blue tinted tile roofs. There are 3 and 4 bedroom plans, each with the bedrooms upstairs and the main living space downstairs. Continue reading →

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Santa Maria CA & Orcutt CA New Home Buyer Alert – $10,000 California Tax Credit

Posted on February 19, 2009 by Tni LeBlanc, JD, MA, CDPE, REALTOR®

The California Association of Realtors reports that the newly signed California budget provides for a tax credit of up to $10,000 for new home buyers. The credit will apply to purchases made between March 1, 2009 through March 1, 2010. Buyers are eligible for a credit equal to 5% of the purchase price of the home u to a mxaimum of $10,000. It does not apply to the purchase of existing homes; but it does apply to any buyer (not just first time buyers) as long as they are purchasing a primary residence. Continue reading →

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Bank Owned Bidding Wars in the Santa Maria – Orcutt CA Foreclosure Market

Posted on February 17, 2009 by Tni LeBlanc, JD, MA, CDPE, REALTOR®

Is it a great time to buy? Yes. Interest rates are at historic lows, Congress just passed an $8000 tax credit for first time buyers, and prices just keep getting better and better. There are plenty of folks who are taking advantage of this opportunity. As such, jumping into the current market for foreclosure properties in Santa Maria – Orcutt CA can be a rude awakening for potential buyers. Currently, there is a lot of competition for foreclosed properties. REOs comprise the majority of sold properties in the Santa Maria and Orcutt housing market. Continue reading →

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Santa Maria CA & Orcutt CA Short Sale Buyer Information

Posted on February 16, 2009 by Tni LeBlanc, JD, MA, CDPE, REALTOR®

With the majority of single family homes and condos being listed as “short sales” in the Santa Maria CA and Orcutt CA market, buyers are considering this type of listing more often. A “short sale” is a property listing where the owner owes more than the homes’ current value, but still desires/needs to sell. Unfortunately, this is not an uncommon position for sellers in Santa Maria CA. Continue reading →

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Santa Maria CA Foreclosure Buyer Alert – $8000 First Time Home Buyer Credit Approved

Posted on February 13, 2009 by Tni LeBlanc, JD, MA, CDPE, REALTOR®

If you are sitting on the fence about buying, Congress just gave you another reason to jump into the market for foreclosures in Santa Maria, CA. The recently passed stimulus bill modestly increases the first time home buyer credit from $7500 to $8000. But more importantly, buyers now do not have to pay the credit back as long as they stay in the home a minimum of 3 years. Continue reading →

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River Oaks Market Update & Santa Maria CA MLS Home Listing Search

Posted on February 11, 2009 by Tni LeBlanc, JD, MA, CDPE, REALTOR®

Sold listings were on the market an average of 77 days, were about 1900 sq.ft., and sold for about $155 per square foot. 12 of the 17 sold homes were REOs, 3 were closed short sales, and only two were regular sales. 88% of the sold activity in this neghborhood was forelcosure related; so, like many other developments that were built during the housing boom River Oaks is now overloaded with foreclosures during the housing bust. Continue reading →

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