When researching the MLS for sales in the rural areas of Santa Maria, I came up with 14 sales in 2009. 6 of them were classified as residential sales, and 8 as land sales. There is no point in looking at averages, etc. with so few sales and such a wide variety in types of properties. It is more useful to look at a sampling of the individual sales information:
Eight acres in Colson Canyon (just off Tepusquet Rd) sold for $145,000 on 3/12/09. And, eleven level acres on Telephone Road sold for $900,000 on 12/7/09. This parcel had a 1 bedroom, 1 bath residence and greenhouse established on the property. A 60 acre plot on Tepusquet Road with an unpermitted modular home sold for $295,000 on 6/30/09. On 8/17/09, a 20 acre parcel on Dolce Vita Way sold for $600,000. An almost 80 acre parcel on Dominion Rd. sold for $555,000 to a cash buyer on 4/13/09, in a bankruptcy sale. Some restrictions applied to that land due to the presence of the tiger salamander. The highest land sale I found was an 156 acre plot on Tepusquet Road which offered national forest access, a barn, well and a couple of acres of Syrah grapes which sold for 1.375 million on 12/17/09.
Of the 6 sales classified as single family homes in the Santa Maria rural areas, 4 were foreclosure (REO) sales. So, the foreclosure epidemic has affected the rural areas as well. I represented buyers on two of these 6 sales — both were foreclosures. One was a 3 bedroom, 2 bath home on Telephone Road which sat on almost half an acre. My buyer was able to pick up this property at auction for $189,000. Also, I represented the buyer in purchasing a 10 acre parcel on Long Canyon which had a 3000 square foot house (no occupancy permit) and an unpermitted mobile for $400,000, a price which was almost $190,000 beneath the listing price. That sale closed on 9/17/09. Also sold during that period was a 118 acre parcel on Tepusquet Road which had three legal dwellings, which sold for $400,000 on 7/28/09. A double wide manufactured home in Sisquoc sold for $154,000 — it was a foreclosure sale. And on 7/15/09, a 3 bedroom, 2 bath home on 1.8 acres on Telephone Road sold for $450,000, it was an REO (foreclosure) sale.
If you are interested in purchasing rural property in the Santa Maria area including Tepusquet, Sisquoc, and Garey, I would be happy to send you a list of currently available properties in these areas. Please give me a call today at (805) 878-9879 and arrange a buyer consultation today.
*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.
The Santa Maria Times reports that this housing downturn has been particularly tough on the local economy. Employment growth for the area was essentially flat, and adjusted for inflation the median income for the county showed a decline. However, not all housing news was negative. Research shows that of the 255 residential building permits issued in Santa Barbara County, 166 of those units were in Santa Maria. Also, existing home sales and loan applications have increased.
