Santa Maria homes Archives - Page 5 of 7 - Santa Maria CA Real Estate Blog & Information, REALTOR® Selling Santa Maria CA Homes

Cal STRS Home Loan Program for Santa Maria & Lompoc Teachers

08/30/2009
Buyer Info, Central Coast Real Estate, Lompoc / Vandenberg Village, Santa Maria

Local teachers in Santa Maria & Lompoc may be eligible for the home ownership loan programs available through the California State Teachers Retirement Program ("Cal STRS'). Eligible participants can apply for several different loan options which can increase borrowing power and lower down payment requirements. Currently, Cal STRS offers a zero down option using a two loan 95% and 5% structure, as well as a low down option using a two loan 80% and 17% structure

Where Have all the Houses Gone in Santa Maria – Orcutt?

07/15/2009
Buyer Info, Santa Maria

When I searched the MLS for active properties this morning, I came up with 158 single family homes or condos for sale. 29 of those listings are short sales, and 35 are active REO listings. There are 234 contingent listings, and 222 of them are short sales. In the last 30 days, 131 homes have sold, with an average price of about $250,000, average price per square foot of $150, and averaging about 75 days on market. 28 of those sold homes were closed short sales, and 61 were REO (bank owned property) sales. Average days on market for short sales were about 120 days (this reflects the time period to obtain bank approval), and average days on market for REO listings was about 53 (this includes the time it takes to get the contract finalized by the bank).

Is Cash Still King in the Santa Maria CA Foreclosure Market?

05/24/2009
Foreclosure / Bank Owned (REO) Info, Santa Maria

Cash buyers are getting the best deals in this competitive market. I've found that the best deals tend to be bank owned homes vs. short sales, and cash does help in the ban owned bidding process. Banks tend to be more conservative about selling prices for short sales where they still have the borrower on the hook. So, I find that short sales tend to close right at current selling prices or slightly higher. Whereas, the goal with REOs is to move that asset off of the books quickly. So, you will see bigger price discounts on bank owned properties.

Another Twist to REO Contracts in the Santa Maria CA Market

05/17/2009
Foreclosure / Bank Owned (REO) Info, Santa Maria

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.

The Santa Maria CA Market is Tough on Buyers

05/16/2009
Buyer Info, Santa Maria

Currently, there is intense competition among buyers in the Santa Maria market. If this is a buyer's market, it sure doesn't feel like it anymore. Indeed, with the banks calling almost all the shots in the under $300,000 market (short sales and foreclosures), it certainly feels like a sellers market.

Should I Buy a New Home or a Newer Home in the Santa Maria – Orcutt CA Market?

04/30/2009
Buyer Info, Santa Maria

Buying a new home versus a newer home can be a difficult decision. I've found that some buyers just cannot see past the gleam of the perfectly manicured model home. I am often asked by buyers which they should consider, new or newer. In today's declining market, there is often a big difference price wise between the two.

Is it me or are Santa Maria CA Short Sales getting easier?

03/25/2009
Santa Maria, Seller Info, Short Sale Info

Are Santa Maria CA short sales getting a little easier? Maybe I'm on a high because I just received a short sale approval the other day, and I'm in escrow on another approved short sale that will close in less than 30 days. But, it seems like more and more short sales are being approved every day. A buyer of mine received an approval on another short sale they bid on this month, and lately I'm noticed an increase in the amount of "approved" short sales on the market.

The Las Brisas Community in Orcutt CA

03/24/2009
Santa Maria

Although not a gated community, Las Brisas offers a private setting for those who desire relative seclusion. There are two entrances into Las Brisas and the streets curve into an artful collection of cul-de-sacs and private parks. Importantly, there are no thoroughfares so traffic cannot cut through the community. The location of the community is convenient for those who are commuting as you are only a short skip to Highway 101's Santa Maria Way exit/onramp. One story and two story plans between 1100 square feet and 1800 square feet are offered with concrete tile roofs and two car garages. The lots are smaller with some exception here and there; but you definitely have enough room to keep Fido happy without having to spend your entire Saturday on yard work.