Tag Archives: lompoc short sales

Lompoc Luxury Homes: Foreclosure Real Estate Update

Posted on October 18, 2010 by Tni LeBlanc, JD, MA, CDPE, REALTOR®

Looking at the luxury real estate market in Lompoc California, there are currently 29 homes priced above $400,000 with an average list price of about $592,000 and 145 days on market, and a median asking price of $499,000. Looking at the luxury foreclosure market, there was only one active luxury foreclosure listing and there were 2 available short sales in Lompoc. Continue reading →

Posted in Buyer Info, Lompoc / Vandenberg Village, Seller Info | Tagged , , , , , , , , , , , , , | Leave a comment

Lompoc Home For Sale $169,900

Posted on October 12, 2010 by Tni LeBlanc, JD, MA, CDPE, REALTOR®

Come see this Lompoc Delight! This exceptional home features a large family room addition off the kitchen for a great room effect and feel. Indoor laundry,large fireplace and slider access to the backyard. Formal living room off the entry and an informal dining area directly off the spacious kitchen. This home hasthree bedrooms and two updated bathrooms. Needs a little polish to bring it back to its prime – but the potential is definitely there. Modern touches andupdates throughout. Continue reading →

Posted in Buyer Info, Lompoc / Vandenberg Village | Tagged , , , , , , | Leave a comment

Top 5 Short Sale Myths

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

Myth #1: I have to be an owner occupant to qualify for a short sale. Where did this myth come from? I’ve done short sales for investors and non-owner occupants. They happen all the time. I just listed a home where the lender told the owner to do a short sale on their rental property. You can sell your investment or rental property via short sale. Continue reading →

Posted in Seller Info, Short Sale Info | 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

How to Buy Short Sales in Santa Maria, CA (Part 2)

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

Sometimes, the second lien in a short sale situation is held or serviced by the same bank as the first mortgage. This can make the situation a little easier than whe that note is owned or serviced by two separate entities. But, not always. Often banks will “charge off” a second mortgage once it becomes too delinquent or after a Notice of Default is filed by the 1st mortgage. In those cases, the note can be sold for pennies on the dollar to what is essentially a collection agency. And, with that you are dealing with a completely different animal. Continue reading →

Posted in Buyer Info, Short Sale Info | Tagged , , , , , , | Leave a comment

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 →

Posted in Lompoc / Vandenberg Village, Short Sale Info | Tagged , , | Leave a comment

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 →

Posted in Lompoc / Vandenberg Village | Tagged , , , , , , , , , , , , | Leave a comment

Buying An Approved Short Sale in the Central Coast Market

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

What is an approved short sale? Let’s start with what a short sale is — a short sale is where the owner owes more on their loan than their home is worth but they still must sell the home. So, the home is placed on the market and offers are accepted — subject to lender approval. Lender approval can take months to obtain. An approved short sale is a short sale where the seller has already received approval from the bank. So, usually they list the property at a price that the bank has already indicated that they will accept, and they typically indicate how much closing costs credit and any repair credits the bank will allow. Continue reading →

Posted in Buyer Info, Central Coast Real Estate, Santa Maria / Orcutt, Short Sale Info | Tagged , , , , , , , , , , | 2 Comments

Should I Make an Offer on a Central Coast Short Sale Property?

Posted on January 12, 2009 by Tni LeBlanc, JD, MA, CDPE, REALTOR®

Short sales are popping up all over the Central Coast of CA due to the recent housing boom/bust. Many buyers are interested in these properties because they offer the possibility of today’s prices with less competition from other buyers. Continue reading →

Posted in Central Coast Real Estate, Short Sale Info | Tagged , , , , , , , , , , , , , , , , | 1 Comment

Central Coast of California Short Sale Seller Tips

Posted on January 2, 2009 by Tni LeBlanc, JD, MA, CDPE, REALTOR®

Short sales are common these days. Santa Maria has 255 active short sale listings, Lompoc lists 72 short sales on the market, Nipomo has 14, and Arroyo Grande also has 14 active short sales. The difficult part is obtaining “lender approval” which adds delays to the process. Because approvals attach to a specific buyer, it is vital to find a committed buyer for your short sale. Often lenders require the process to start over if the buyer abandons their offer. This can draw out the process even further. But it is important to note that short sale transactions are closing all over the Central Coast. In the month of December, 18 short sales closed in Santa Maria (2 of these were my listings), 2 in Lompoc, 2 in Nipomo, and 1 in Arroyo Grande. Continue reading →

Posted in Central Coast Real Estate, Short Sale Info | Tagged , , , , , , , , , , , , , , , , | 2 Comments