Nipomo foreclosures Archives - Santa Maria CA Real Estate Blog & Information, REALTOR® Selling Santa Maria CA Homes

Nipomo Luxury Foreclosure Real Estate Update

10/24/2010
Central Coast Real Estate, Foreclosure / Bank Owned (REO) Info

Looking at the luxury real estate market in Nipomo California, there are currently 37 homes priced above $600,000 with an average list price of about $1,066,000 and 191 days on market, and a median asking price of $749,000. Looking at the Nipomo luxury foreclosure market, there were no active luxury foreclosure listings and there was one available short sale in Nipomo.

Snapshot 2010: Nipomo Foreclosures

09/30/2010
Central Coast Real Estate

There are 189 active and pending homes and condos in Nipomo. Of those 189 properties, 16 are foreclosures (8%) and 34 are short sales (17.9%). Looking back six months, there have been 122 sales in Nipomo with an average listing price of $440,781 and an average selling price of $429,203, so sellers are getting about 97.3% of their asking prices in Nipomo indicating that there is some bargaining room for buyers in the Nipomo real estate market.

Nipomo Homes Report – First Half of 2010

07/07/2010
Central Coast Real Estate

The average selling price in Nipomo for homes, PUDs and condos was $435,478 with 105 days on market and $219 per square foot paid. Looking at just single family homes during this same time period, the average was higher at $449,750 with 106 days on market and $224 per square foot paid. Average price for condos was $263,163 with 101 days on market and an average of $189 per square foot paid. Overall, sellers are receiving 97.8% of their asking price, and foreclosure sellers in Nipomo are receiving slightly over asking on average.

Bank Owned (REO) Delays in the Central Coast Market

04/18/2009
Central Coast Real Estate, Foreclosure / Bank Owned (REO) Info

You would think that once a bank found a willing buyer, who won the "highest and best" bidding process for a foreclosure property, they would be hot to close the transaction. Well think again. I've actually had an all cash buyer trying to close in 10 days (or less) and the bank and their escrow company simply were not able to do it! The buyer couldn't believe it, but having dealt with REO properties many times before I certainly could There are several delays that seem to happen time and time again in bank owned purchases:

Nipomo 2008 Market Update & MLS Listing Search

01/29/2009
Central Coast Real Estate

A total of 190 homes and condos sold in Nipomo in 2008. 63 were REOs (bank owned homes) and 15 were short sales. So, one third of the closed sales were foreclosures and 7% were pre-foreclosure listings. Average square footage…

Santa Barbara & San Luis Obispo County Foreclosure Mini-Market Update

10/15/2008
Central Coast Real Estate

Are we beginning to turn the corner on foreclosures on the central coast? The number of notices of default ("NODs") filed in both counties marked a sharp decline last month.