Category Archives: Foreclosure / Bank Owned (REO) Info

Santa Maria Real Estate: Tips for Buying Santa Maria Foreclosures

Posted on October 5, 2010 by Tni LeBlanc, JD, MA, CDPE, REALTOR®

1) For an “as-is” purchase – Banks don’t like to make repairs, and you will find that the Santa Maria real estate is littered with bank sellers who intend to make no repairs to their properties. This may even include situations where the property has been cited by the City of Santa Maria for violations of the municipal code. Continue reading →

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

2010 Snapshot: Lompoc Foreclosures

Posted on September 28, 2010 by Tni LeBlanc, JD, MA, CDPE, REALTOR®

Lompoc California foreclosure activity: There are 213 active and pending homes and condos in Lompoc currently. Of those 213 properties, 49 homes and condos are foreclosures and 80 are short sales. So, 60% of Lompoc inventory is either a bank owned property or a distress sale. The median asking price for an actively listed home is $245,000 with 68 days on market; for condos the median is $135,000 with 49 days on market. Looking back six months, there have been 227 sales in Lompoc with an average listing price of $235,353, and an average selling price of $234,060, so sellers are getting about 99.4% of their asking prices in Lompoc indicating that there is not much bargaining room for buyers in this market. Continue reading →

Posted in Foreclosure / Bank Owned (REO) Info, Lompoc / Vandenberg Village | Tagged , , , , , , , | Leave a comment

2010 Snapshot – Orcutt Foreclosure Market Update

Posted on September 27, 2010 by Tni LeBlanc, JD, MA, CDPE, REALTOR®

There are 295 active and pending homes and condos in the Orcutt zip code of 93455. Of those 295 properties, 41 homes are foreclosures (13.8%) and 113 are short sales (38.3%). So currently, over 50% of the Orcutt market is either a bank owned property or a short sale. Average asking price overall was $337,392, asking prices for foreclosures was significantly lower at $256,678, and for short sales it was $269,678.

Continue reading →

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

Snapshot – 2010 Grover Beach Foreclosure Market

Posted on September 26, 2010 by Tni LeBlanc, JD, MA, CDPE, REALTOR®

Grover Beach, California foreclosure activity: There are 88 active and pending homes and condos in the city of Grover Beach. Of those 88 properties, 9 homes are foreclosures (10.2%) and 27 are short sales (30.6%). Looking back six months, there have been 72 sales in Grover Beach with an average listing price of $346,140 and an average selling price of $338,940. Continue reading →

Posted in Central Coast Real Estate, Foreclosure / Bank Owned (REO) Info | Tagged , , , , , , , , | Leave a comment

2010 Snapshot – Pismo Beach Foreclosure Market

Posted on September 24, 2010 by Tni LeBlanc, JD, MA, CDPE, REALTOR®

Pismo Beach, California foreclosure activity: There are 139 active and pending homes and condos in Pismo Beach currently. Of those 139 properties, 9 homes are foreclosures and 12 are short sales. Looking back six months, there have been 35 sales in Pismo Beach with an average listing price of $671,239, and an avergae selling price of $616,669, so sellers are getting about 91.8% of their asking prices in Pismo Beach Continue reading →

Posted in Central Coast Real Estate, Foreclosure / Bank Owned (REO) Info | Tagged , , , , , , , , , , , | Leave a comment

2009 Orcutt CA Real Estate & Foreclosure Market Update

Posted on January 29, 2010 by Tni LeBlanc, JD, MA, CDPE, REALTOR®

There were a total of 509 homes and condos sold in 2009 in the Orcutt area. Included in these figures are homes in the 93455 zip code which includes some homes and condos in Santa Maria that are south of Betteravia. 439 of the sales were single family homes and 70 were condos/PUDs. The average list price was $339,181, and the average sales price was $332,989 at $182 per square foot with73 days on market. For condos and PUDs, the average list price was $185,185, and average sales price was $179,203 at $132 per square foot with 89 days on the market. Continue reading →

Posted in Foreclosure / Bank Owned (REO) Info, Santa Maria / Orcutt | Tagged , , , | 1 Comment

2009 Lompoc CA and Vandenberg Village CA Real Estate & Foreclosure Market Update

Posted on January 27, 2010 by Tni LeBlanc, JD, MA, CDPE, REALTOR®

There were 360 single family homes sold in the Lompoc and Vandenberg Village in 2009. This excludes manufactured home sales. This figure is down approximately 10% from the 401 homes/condos that were reported sold in 2008. Of the 360 homes/condos sold in 2009, 305 were single gamily detached homes, and 55 were attached/condo dwellings. 217 of the sales were foreclosures (REOs) and 50 were short sales. Continue reading →

Posted in Foreclosure / Bank Owned (REO) Info, Lompoc / Vandenberg Village | Tagged , , , , , | Leave a comment

Santa Maria – Orcutt 2009 Real Estate & Foreclosure Market Update

Posted on January 14, 2010 by Tni LeBlanc, JD, MA, CDPE, REALTOR®

1275 single family homes sold in Santa Maria and Orcutt in 2009. This excludes PUDs, condos, and manufactured homes. This figure is slightly higher than the 1230 homes which sold last year. 175 condos and PUDs sold during the same period in 2009; compared to 130 units in 2008. So, overall the number of sales in Santa Maria and Orcutt is up. Continue reading →

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

People’s Self Help Housing Holds Seminar in Santa Maria

Posted on January 2, 2010 by Tni LeBlanc, JD, MA, CDPE, REALTOR®

The Santa Maria Times reports that People’s Self Help Housing is offering a seminar to help homeowners who are trying to prevent foreclosure. People’s Self Help Housing is a HUD approved counseling agency. They have offices in San Luis Obispos and Santa Barbara and serve, SB, SLO, and Ventura counties. Continue reading →

Posted in Foreclosure / Bank Owned (REO) Info, Local Interests / Events | Tagged , , , , , | Leave a comment

Santa Maria CA & Lompoc CA Foreclosure Buyers Can Choose Local Escrow Companies

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

Finally! Those of you who read my blog recall my recent blog post on buying a foreclosure and not receiving your keys until the day after it closes. It appears that the Claifornia legislature has take a stab at the heart of the problem, which was the fact that buyers were not allwoed to pick their own excrow companies in these transactions. Banks would hire title and escrow companies to complete their foreclosure proceeding and when they turned around to sell the property as an REO, they would compel the buye to use that same title/escrow company to complete the purchase. Continue reading →

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