Category Archives: Lompoc / Vandenberg Village

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 →

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Buying a Short Sale with a VA Loan in Lompoc, CA

Posted on January 13, 2010 by Tni LeBlanc, JD, MA, CDPE, REALTOR®

Are you a military veteran looking to buy a short sale home with a VA loan in the Lompoc, CA area? Short sales can be excellent bargains, and they also offer some relief to the VA buyer who may be experiencing difficulty purchasing a bank owned or REO listing in the competitive Lompoc foreclosure market. The first thing to keep in mind when buying a short sale property is that there are a lot of contingencies involved, and using VA financing can add to those contingencies. So, some short sale agents will advise their client to take a conventional, cash, or FHA offer before a VA offer because they view those loans as easier. Continue reading →

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Santa Maria and Lompoc First Time Buyers, FHA Loan Info

Posted on January 10, 2010 by Tni LeBlanc, JD, MA, CDPE, REALTOR®

What is an FHA loan? — Essentially a FHA loan is a loan that is guaranteed by the Federal Housing Administration. Lenders typically do not want to lend unless on a home unless a buyer has a 20% down payment. If there is less than a 20% down payment, mortgage insurance is required. And, in today’s market unless you have a credit score at least 720 or above you won’t be able to get mortgage insurance. Continue reading →

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Foothill Estates 2009 Update – Lompoc CA Homes and Real Estate

Posted on January 8, 2010 by Tni LeBlanc, JD, MA, CDPE, REALTOR®

Tucked away in the hills of southwest Lompoc is the charming HOA community, Foothill Estates. The community is broken up into enclaves of duplex style units, with two units attached at one common wall. They have two car garages, and larger back yards than you get in other HOA communities. Amenities include a community pool, spa, and clubhouse. There are 2 and 3 bedroom models which range from about 1100 to 1300 square feet in size. The monthly HOA fees are $145 per month. But what you get for the money can’t be beat. The views from this development are breathtaking and unmatched, and if you have a large dog you can’t beat having a decent size yard versus the patio that most comparably priced condo units offer. Continue reading →

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Santa Maria and Lompoc CA Short Sale Seller Tips

Posted on January 7, 2010 by Tni LeBlanc, JD, MA, CDPE, REALTOR®

Everyone in the Santa Maria and Lompoc housing marlet is talking about short sales these days. They love them, they hate them, they love to hate them, they. . . well you get the picture. There are a lot of opinions on them. One thing is for sure, if you are a short sale seller you should work with an experienced agent and obtain legal and tax advice before entering into a short sale arrangement. Short sales have significant financial, legal, tax, and credit consequences. Continue reading →

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Looking to Buy HUD Homes in Santa Maria or Lompoc CA?

Posted on January 1, 2010 by Tni LeBlanc, JD, MA, CDPE, REALTOR®

Are you interested in buying a HUD home in Santa Maria, Orcutt, or Lompoc? You can search for HUD homes by clicking here. Also, you need a registered HUD agent to write an offer on a HUD home. I am a registered selling agent with HUD and I can take you for a tour of any local HUD home, explain the bidding process, and write an offer. These homes are generally not listed on the MLS, so the potential for a buyer bargain is tremendous as they receive less exposure. Continue reading →

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Santa Maria & Lompoc Buyers Betting on Appraisals to Save Them From Bidding Wars

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

There is intense competition for homes in the Santa Maria and Lompoc markets, especially for homes priced under $300,000. There simply aren’t enough homes for interested buyers. It is not unusual when competing for a home to go up against 12 – 15 other buyers. And, some are pulling no punches when it comes to asking price. Continue reading →

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Cal STRS Home Loan Program for Santa Maria & Lompoc Teachers

Posted on August 30, 2009 by Tni LeBlanc, JD, MA, CDPE, REALTOR®

Local teachers in Santa Maria & Lompoc may be eligible for the home ownership loan programs available through the California State Teachers Retirement Program (“Cal STRS’). Eligible participants can apply for several different loan options which can increase borrowing power and lower down payment requirements. Currently, Cal STRS offers a zero down option using a two loan 95% and 5% structure, as well as a low down option using a two loan 80% and 17% structure Continue reading →

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Homeowners Assistance Program: Help for Vandenberg Air Force Base Homeowners?

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

The Department of Defense has announced the Homeowners Assistance Program (“HAP”)for eligible military personnel. The central coast is home to Vandenberg Air Force Base and HAP may assist those who have suffered due to the severe local housing bust. Several types of assitance are offered: Continue reading →

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Are Santa Maria & Lompoc Condos Good Investment Properties?

Posted on March 31, 2009 by Tni LeBlanc, JD, MA, CDPE, REALTOR®

Prices of many condos are finally well beneath $100,000 in Santa Maria and Lompoc, which make some condos a good option for investors even with the added expense of a monthly condo fee. There have been some 2 bedroom condos listed as low as $59,000. If you compare a home in the local area that you can purchase for $100,000, you would be looking at a much older home or a smaller cottage with limited rental value and appeal. Everything on the exterior of the home is typically covered by the condo association, cutting down on the responsibility for landlords. Continue reading →

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