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Orcutt CA Condo Foreclosure Market Update (REOs & Short Sales)

There are approximately 34 active or contingent condo listings in the Orcutt CA area, and the average list price centers around $220,000. This does not include HUD properties, which are not listed on the MLS, or for sale by owner units. The most expensive Orcutt condo currently listed is a 2 bedroom 2 bath luxury townhome unit in Foxenwood Garden Villas which is selling for about $699,900. Contrast those prices with the nearby Santa Maria condo market which has about 52 active or contingent listings with an average price around $140,000, with the most expensive being a luxury townhouse in Somerset Gardens listed at $385,000.
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Selling Your Home as a Short Sale in the Santa Maria CA & Orcutt CA Market

Short sales dominate the Santa Maria and Orcutt CA market. Simply put, short sales are sales where the owner owes more than the house is currently worth. Currently, 50% of the active listings in Santa Maria and Orcutt are short sales. However, 60% of the homes sold in the past 30 days are bank owned homes (REOs), and only 10% of sold homes in the last month were short sales.
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Santa Maria CA & Orcutt CA Bank Owned / Foreclosure Market Update

The Santa Maria/Orcutt CA market for foreclosure properties is certainly not unique. However, because of media reports on overall trends in the national real estate market, many who venture into the local home buying market are under the misimpression that there are hundreds of cheap houses sitting out there for the picking. That is not exactly how it is currently working. I might say that about the local condo market — but not the market for homes. That is not to say that there are not bargains out there. There clearly are. But, the local market for foreclosed properties is extremely competitive. On one particularly choice recent bank owned listing, the listing agent reported 28 offers in 5 days.
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#1 Agent in Number of Residential Sales Transactions (2016)
in Santa Maria (per CCRMLS)

$125 Million in Career Sales

REALTOR® of the Year (2014)
(voted by Santa Maria Association of REALTORS®)



Tni LeBlanc, REALTOR®, J.D.
Mint Properties
(805) 878-9879 (mobile/text)
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Lic #01871795





Certified Military Housing Specialist

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