Tag Archives: Santa Maria REO

Santa Maria Foreclosure Market Tip: What is a “Contingent REO?”

Posted on October 11, 2010 by admin

If you’ve been tracking the market for foreclosures for awhile, I’m sure you’ve come across a contingent REO and wondered what that means. An REO is an industry term for a foreclosure, and a contingent REO is one where an offer has been verbally accepted by the bank or the asset manager, but the paperwork is still being signed. Continue reading →

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List of Cheap Foreclosure Homes in Santa Maria

Posted on March 15, 2010 by Tni LeBlanc, JD, MA, CDPE, REALTOR®

Wondering what the cheap foreclosure homes sell for in Santa Maria? Last month, the average foreclosure property in Santa Maria sold for $210,630, and for over its list price by nearly 2%. But, how much for the cheap ones you ask? There wer 30 homes that sold, and the cheapest was a 2 bedroom one bath fixer on West Mill which sold for $90,350. After that the cheapest foreclosure sold in Santa Maria was 3 bedroom one bath home on East Las Flores (near Hancock College) which sold for $109,900.*
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Another Twist to REO Contracts in the Santa Maria CA Market

Posted on May 17, 2009 by Tni LeBlanc, JD, MA, CDPE, REALTOR®

I just received a counter offer back on a Bank of America property (formerly Countrywide) with a new twist that I haven’t seen before in REO contracts. Countrywide officially became Bank of America Home Loans about two weeks ago. I’ve sold quite a few Countrywide REOs and was used to how they did things. However, it appears that the switch over to Bank of America has changed some things. Continue reading →

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