Tag Archives: nipomo short sales

Will My Lender Pay My Delinquent Property Taxes As A Part of My Short Sale?

Posted on April 10, 2011 by Tni LeBlanc, JD, MA, CDPE, REALTOR®

The answer is maybe. It is not uncommon for a short sale seller in financial distress to have unpaid property taxes. During the housing boom, many lenders did not require tax and insurance impounds. Continue reading →

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Short Sale Approval Received in 26 Days from Well Fargo Home Mortgage!

Posted on April 7, 2011 by Tni LeBlanc, JD, MA, CDPE, REALTOR®

I just received short sale approval from Wells Fargo in 26 days! It was a total of twenty six days from when the short sale application was submitted to the lender until I received the short sale approval letter in my email box. Continue reading →

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How Time Can Run Out On Your Santa Maria Short Sale

Posted on March 13, 2011 by Tni LeBlanc, JD, MA, CDPE, REALTOR®

One of the worst things that distressed Central Coast homeowners do is waiting until the clock is ticking before contacting a short sale agent. When does the clock start ticking? I tell people it starts ticking when you stop paying. Ideally, if you know a financial hardship is imminent, you should begin exploring your options, including a short sale, before any payments are even missed. In its recent Open Letter on Short Sales, the California Association Realtors reports that according to surveyed California Realtors® only about three out of five short sales close. Continue reading →

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Nipomo Luxury Foreclosure Real Estate Update

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

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. Continue reading →

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Nipomo Homes Report – First Half of 2010

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

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. Continue reading →

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Nipomo 2008 Market Update & MLS Listing Search

Posted on January 29, 2009 by Tni LeBlanc, JD, MA, CDPE, REALTOR®

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 … Continue reading →

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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 →

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