There are currently 528 single family homes for sale in the Santa Maria CA (and Orcutt CA) area. Approximately 250 of those homes are short sales where bank approval is necessary to complete the sale. About 141 of the remaining homes are bank owned / foreclosure listings. Thus, approximately 50 percent of the Santa Maria inventory is short saled, and about 25% is bank owned (REOs). You can search for short sales and REO Santa Maria homes at www.iLoveSantaMaria.com and www.iLoveOrcutt.com.
Contrary to what many buyers expect there is a great deal of actiivity on the market. Although it is most certainly a buyers market there is a great deal of competition in the market. About 250 homes are currently under contract, and since November 1, 2008, 92 Santa Maria & Orcutt CA homes have sold, 14 of those homes were short sales, and 67 were bank owned properties. In the Santa Maria market, there are frequently multiple offers on properties, especially for well priced foreclosure listings. It is not unusual to bid against 4 or 5 other buyers on a property.
I can help you navigate the current market; my background as an attorney serves as a distinct advantage in buying foreclosures. I have techniques that can help you to succeed in this market. I can also send you a personalized list of foreclosed properties to help you find the buried treasure! Feel free to email me at email@example.com, or give me a call at (805) 878-9879.
Tni LeBlanc, JD, M.A. , e-PRO
Broker/Owner, Mint Properties
(805) 878-9879, tni@MintProp.com
*Based on the information from the Central Coast Regional MLS. Neither the Association, the Multiple Listing Service, or Mint Properties guarantees or is in any way responsible for its accuracy. Data maintained by the Association or its MLS may not reflect all real estate activity in the market.