Number of Properties for Sale in Santa Maria, CA in 2009.The average price for a home in Santa Maria and Orcutt edged up only slightly from $250,000 in December 2008 to $252,000 in December 2009, reflecting the fact that the market appears to be stabilizing. Also, the average price for condos has gone up significantly from $120,000 to $168,500. A large influx of foreclosed homes has been predicted since March 2009, but they have not appeared in the marketplace. The number of homes for sale has continued to march downward as depicted by the graph above. There just still aren’t enough homes on the market in Santa Maria and Orcutt.
From December 2008, the number of homes for sale is down 56%, from 865 to 384 properties offered for sale. Keep in mind that we still had bidding wars in 2008. Average days on market is also down from 85 to 47. Overall, due to interest rates and the first time home buyer credit, it is an excellent time to buy. Our local market in Santa Maria and Orcutt is competitive though and buyers should be prepared for a bit of hurry up and wait to find the perfect home. If you are interested in buying or selling and need a Realtor in Santa Maria, call me today at (805) 878-9879. I will be happy to provide even more information to you about the Santa Maria and Orcutt market at our initial consultation.
*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.
Rice Ranch is a master planned commmunity of new homes and condos in Orcutt California. On Labor Day, I visited the models at Rice Ranch in nearby Orcutt, California. Rice Ranch is a master planned community which will have new single family homes, high end condominiums, and a 26 acre sports complex and community park. The Orcutt California community will have over 300 acres of preserved open space. After viewing the master planned community, “Summerlin,” in Las Vegas over the Labor Day weekend, I was sold on the concept of a master planned community and curious to see how Rice Ranch was turning out.
Come see this Lompoc Delight! This exceptional home features a large family room addition off the kitchen for a great room effect and feel. Indoor laundry,large fireplace and slider access to the backyard. Formal living room off the entry and an informal dining area directly off the spacious kitchen. This home hasthree bedrooms and two updated bathrooms. Needs a little polish to bring it back to its prime - but the potential is definitely there. Modern touches andupdates throughout.
I’m afraid the days of 100% financing for everyone are gone. Unless you are a veteran with a VA home loan benefit, or buying in a rural area through the USDA loan program, there are not many 100% financing options. (Santa Maria does not qualify as a rural area, but in the past, Guadalupe and parts of Nipomo have qualified).
