Tag Archives: Buy Santa Maria Condos

Central Coast Investor Tip — 20% Down Payment Required

Posted on March 22, 2009 by Tni LeBlanc, JD, MA, CDPE, REALTOR®

For those looking to buy your first rental property, or pick up an extra one now that prices make sense again, be aware that lenders have rolled back the down payment requirements for investment property. Most lenders I polled recently say that a 20% down payment is required for an investment property. Many of us remember when lenders required a 30% down payment for investment property, and I wonder how long it will be until we are back to those days. Lenders slowly but surely increased the down payment requirement for investors during the housing boom and have slowly but surely increased that obstacle again. Continue reading →

Posted in Buyer Info, Central Coast Real Estate, Lompoc / Vandenberg Village, Santa Maria / Orcutt | Tagged , , , , , , , , , | Leave a comment

The Santa Maria Real Estate Market is Hot!

Posted on March 21, 2009 by Tni LeBlanc, JD, MA, CDPE, REALTOR®

I know the media is saying that the real estate market is in the dumps. And I guess if you were hoping to get housing boom level prices for your home, it is. But if you are a Santa Maria or Ocutt home owner who needs to sell your home, you should know that the Santa Maria real estate market is hot! Why do I say that? Because homes that are priced in line with today’s market that are not short sales, sell in less than a week. I feel as if this is a hidden secret of today’s market place. Everyone believes that it is hard to sell your home right now, but even short sales that are well priced are receiving multile offers right now. Continue reading →

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Buyer Tip — Use a Local Lender when Buying Central Coast Property

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

In the past couple of weeks, I have had two clients shop for mortgages online after securing a contract on a home. Both came back with inaccurate information. My advice to both was to use a local lender. It is natural and good practice to want to shop around. Online shopping is very convenient because you can do it at your convenience. But, I highly advise my clients to shop their loan with local lenders for several reasons inspired by experience: Continue reading →

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What is a "contingent" listing on the Central Coast market?

Posted on March 7, 2009 by Tni LeBlanc, JD, MA, CDPE, REALTOR®

Approximately 25% of the 500 active single family listings in the Santa Maria California market are “contingent.” Buyers run up against this time and time again, and often wonder, “what exactly is a contingent listing?” Before the housing bust, “contingent” was primarily used when a seller accepted a contract that was contingent upon another home selling. For example, if I offered to buy your home but I needed to sell my own home to make that happen, I could make an offer contingent upon my home sale. Continue reading →

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REO Contracts — What to Expect When Buying a Foreclosure in Santa Maria & Lompoc CA

Posted on March 5, 2009 by Tni LeBlanc, JD, MA, CDPE, REALTOR®

The majority of foreclosure activity in Santa Barbara county centers in the Santa Maria and Lompoc markets. Most of the time, banks demand that their own contracts be used when selling foreclosures. In a typical real estate transaction, the parties use the forms produced by the California Association of Realtors. However, bank sellers have special issues they want to address in their contracts and they use their own team of lawyers to draft their contracts. Continue reading →

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

How to Buy HUD Home and Condo Foreclosures on the Central Coast

Posted on September 12, 2008 by Tni LeBlanc, JD, MA, CDPE, REALTOR®

San Luis Obispo and Santa Barbara Counties have seen a dramatic increase in foreclosure and pre-foreclosure listings. Bank owned and short sale listings currently dominate and/or drive many of the local markets here on the central coast, and along with that we are beginning to see more HUD homes for sale. HUD homes (or condos) are properties that have gone through foreclosure and been taken back by the federal agency “HUD” (U.S. Department of Housing and Urban Development) which insured the original defaulted mortgage. Continue reading →

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How to Buy Home and Condo Foreclosures in Santa Maria, CA

Posted on February 17, 2008 by Tni LeBlanc, JD, MA, CDPE, REALTOR®

The number one question I’m asked by new clients is “Tni, how can I buy a foreclosure?” The Santa Maria and Orcutt market is full of foreclosed properties right now making it an excellent time to buy. I specialize in helping people buy these types of properties. I am a certified HUD buyer’s agent, and I am the exclusive agent for RealtyTrac in Santa Maria, Nipomo & Oceano Continue reading →

Posted in Foreclosure / Bank Owned (REO) Info, Santa Maria / Orcutt | Tagged , , | 4 Comments