Pacific Crest Quarterly Market Update – 12/08 – 2/09

Pacific Crest Homes

Pacific Crest Homes

Pacific Crest is located in southwest Santa Maria, near the area referred to as Westgate Ranch. Liberty Elementary School is nestled in the community along with a nearby park and greenbelt. Building is still ongoing in the area with the addition of the gated Lavigna townhome community, and more upcoming development planned. Since Battles Road was built out to reach this area, Pacific Crest residents can shoot straight into downtown Santa Maria’s shopping and restaurants. The development offers low HOA fees of about $150 per month and many truly deluxe floorplans and amenities.

Pacific Crest Homes

Pacific Crest Homes

From December 2008 through February 2009, approximately eleven homes were reported sold in the local MLS in the Pacific Crest subdivision. The highest resale was a two story 4 bedroom 3 bath, 1900 sq.ft. home sold new by the builder, Inland Pacific, and it went for $340,000 in December. The lowest resale was a 3 bedroom, 3 bath, 1800 sq. ft. bank owned home which suffered through some fire damage. It sold for $175,000 in December — but that price was not typical. Indeed, the average selling price in Pacific Crest during that time period was approximately $273,000. Other than the one new home that sold, all of the other 10 sales in the development were bank owned homes (REOs). Because these homes were built beginning in 2005 and 2006 at the peak of the housing boom, the development was hard hit with foreclosures. This has allowed many buyers to get an almost new house at a deeply discounted price.

If you would like information or a list of available homes in the Pacific Crest development or the Westgate Ranch area, send an email to me at tni@MintProp.com. You can also search for properties on my websites: www.iLoveSantaMaria.com, www.SantaMariaRealEstateSearch.com, & www.BuySantaMariaForeclosures.com (map based search). If you have questions about a specific property, or would like to set up an appointment to consult about a possible short sale of your property, I can be reached at (805) 878-9879.

tniright_logo1Tni LeBlanc, JD, M.A., e-PRO
Broker/Owner, Mint Properties
(805) 878-9879, tni@MintProp.com
www.iLoveSantaMaria.com
www.SellMySantaMariaHome.com
www.BuySantaMariaForeclosures.com
www.SantaMariaRealEstateSearch.com

*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.

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