Monthly Archives: February 2009

Mission Creek Village Condos vs. Oak Creek Villas (Santa Maria CA & Orcutt CA Condos)

Posted on February 9, 2009 by Tni LeBlanc, JD, MA, CDPE, REALTOR®

The Mission Creek Condos and Oak Creek Villas were built by local builder, Inland Pacific, who is also currently finishing up Pacific Crest in Westgate Ranch. Oak Creek and Mission Creek offer the same basic floor plans and amenities; however, … Continue reading →

Posted in Santa Maria / Orcutt | Tagged , , , , , , , , , , , , , , , , , , | 1 Comment

Arroyo Grande CA 2008 Market Update & Free MLS Listing Search

Posted on February 8, 2009 by Tni LeBlanc, JD, MA, CDPE, REALTOR®

In 2008, a total of 276 homes and condos sold in Arroyo Grande, CA. 243 were single family homes, and 33 were condos or in planned unit developments. Average home price was approximately $648,000, $331 per sq ft., and sold after 130 days on market. The lowest resale home price was a 2 bedroom 2 bath bank owned twin home in an age restricted community that was 1064 sq. ft. and sold for $190,000. $650,000 would have purchased a 3 bedroom, 4 bath, 2330 sq. ft. lakeside home with granite countertops and a golf cart bay in the gated golf course community of Cypress Ridge. Continue reading →

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Lompoc CA & Vandenberg Village CA 2008 Market Update & MLS Listing Search

Posted on February 4, 2009 by Tni LeBlanc, JD, MA, CDPE, REALTOR®

There were a total of 400 homes sold in the Lompoc and Vandenberg Village areas in 2008. 346 were detached dwellings, and 54 were attached residences. Of the 400 sold, 226 were REOs (bank owned) and 31 were short sales. So, a total of 257 out of 400, or 64% were foreclosure related sales. Thus, the Lompoc market is thoroughly dominated by foreclosure activity; it is the primary force moving the market. Continue reading →

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Buying Bank Owned Homes (REOs) in the Santa Maria CA & Orcutt CA Market – Should I Use FHA/VA or Conventional Financing?

Posted on February 1, 2009 by Tni LeBlanc, JD, MA, CDPE, REALTOR®

When the bidding gets competitive, buyers are often left to wonder how asset managers make their decisions about which offer to choose. If you have 15 offers how do you select one over the other? The obvious selection would be based on the net to the lender, but there are other factors. In particular, time and time again, I see FHA buyers assed over in this market for buyers using conventional financing. That is not to say that FHA financing is not being used — it is. Continue reading →

Posted in Foreclosure / Bank Owned (REO) Info, Santa Maria / Orcutt | Tagged , , , , , , , , , , , , | Leave a comment