Providence Landing in Vandenberg Village, CAThere were 360 single family homes sold in Lompoc and Vandenberg Village in 2009. This excludes manufactured home sales. This figure is down approximately 10% from the 401 homes/condos that were reported sold in 2008. Of the 360 homes/condos sold in 2009, 305 were single family detached homes, and 55 were attached/condo dwellings. 217 of the sales were foreclosures (REOs) and 50 were short sales. So, 74% of the Lompoc and Vandenberg Village real estate market was either a foreclosure or a pre-foreclosure short sale. This is a slight increase over 2008 when “only” 64% of the Lompoc market was a foreclosure/pre-foreclsoure sale. The price range for Lompoc sales ranged from a low of $53,411 for a one bedroom, one bath condo on Cypress up to a high of $738,000 for a 4 bedroom, 4 bath, 3079 sq.ft. home in Mesa Oaks which sat on 1.34 acres. The average listing price was about $233,000 and the average selling price was $230,000. So, it appears sellers are getting offers close to their asking price (at least when their asking price is attractive to buyers at all!). The median price for sales is somewhat lower at $203,000.
Looking just at Vandenberg Village home and condo sales, there were 72 sales in 2009. 59 were detached homes, and 13 were attached/condo dwellings. Prices ranged from a low of $137,000 for a 2 bedroom, 1 bath condo on Cassini Circle in Providence Landing to a high of $499,000 for a 3 bedroom 2 bath home in the Country Club area of the Village. The median list price was $312,000 in the Village, and the median sales price was $302,500. Nine of the sales were short sales, and 23 were bank owned foreclosures (REOs). So, “only” 44% of the sales in Vandenberg Village were foreclosure related, which is a lower percentage than when looking at the Lompoc CA market overall.
In general, the number of home/condo sales in Lompoc and Vandenberg Village is down from 2008, but the percentage of foreclosure sales is up. Buyers and sellers should keep in mind that throughout 2009, buyers experienced low inventory and bidding wars for foreclosure properties. And, it does not look like we are anywhere near finished with foreclosure activity in this market. If you would like a list of currently available short sale and foreclosure properties in the Lompoc CA and Vandenberg Village CA market, send an email request to me at tni@mintprop.com. You can search for foreclosures on my website: www.BuyCentralCoastForeclosures.com. Or give me a call at (805) 878-9879 and set up a buyer consultation today.
*Based on the information from the Lompoc Valley 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.
There were a total of 509 homes and condos sold in 2009 in the Orcutt area. Included in these figures are homes in the 93455 zip code which includes some homes and condos in Santa Maria that are south of Betteravia. 439 of the sales were single family homes and 70 were condos/PUDs. The average list price was $339,181, and the average sales price was $332,989 at $182 per square foot with73 days on market. For condos and PUDs, the average list price was $185,185, and average sales price was $179,203 at $132 per square foot with 89 days on the market.
It's the beginning of a new year, so many people are waiting anxiously to hear how many homes and condos were sold in Lompoc last year, what the average sale price was, and how it compared to 2009.
Are you a military veteran looking to buy a short sale home with a VA loan in the Lompoc, CA area? Short sales can be excellent bargains, and they also offer some relief to the VA buyer who may be experiencing difficulty purchasing a bank owned or REO listing in the competitive Lompoc foreclosure market. The first thing to keep in mind when buying a short sale property is that there are a lot of contingencies involved, and using VA financing can add to those contingencies. So, some short sale agents will advise their client to take a conventional, cash, or FHA offer before a VA offer because they view those loans as easier.
