River Oaks is a community of newer homes for sale in northeast Santa Maria. The neighborhood offers a secluded feeling and borders the Santa Maria Riverbed ad walking trails. At the center of the neighborhood is Ida Redmond Taylor Elementary, and directly behind is a community park which includes a lake, playground, and picnic area. These homes were constructed between about 1999 – 2003. Because many of the homes were sold new during the beginning of the housing boom, many if not most of the current and recent sales in the development are foreclosures or distress sales. In the past 6 months, there have been 6 sales in the River Oaks Development, 3 were foreclosures, and 1 was a short sale, and 2 were regular sales. The average sale price was $290,167 compared to an average list price of $290,965; average price per square foot paid by River Oaks home buyers was $149.15, with 77 days on market.
So, sellers are receiving about 99.7% of their asking price in the River Oaks development, indicating that the community has much appeal for buyers. There is currently 1 pending home sale in the River Oaks homes for sale in Santa Maria. There are five contingent short sales currently, with a median asking price of $280,000. At present, there are 6 active properties in River Oaks, indicating that there may be some bargaining room for buyers due to the increase in available inventory in this neighborhood. The median asking price of available homes is $252,500, and the average is about $256,000, which is noticeably lower than the sold average in the past 6 months. So, there appears to be some softening in prices in this neighborhood. This may also be due to the fact that majority of homes sold in the Santa Maria River Oaks development continue to be distress sales at this time.
River Oaks is a charming community that offers a real retreat feeling to Santa Maria home buyers. Other newer home communities in Santa Maria include Essex at Willow Creek, La Ventana, Sculptures, Villaggio, and Cherry Blossom Ranch. If you are looking for a home in one of these Santa Maria or Orcutt developments, call me today for an appointment (805) 878-9879.
*Based on the information from the Central Coast Regional MLS. The Association, the Multiple Listing Service, nor 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 most exciting news about the La Ventana development in Santa Maria is the fact that it will soon be a gated community. I think this is a good decision and will improve the desirability of the neighborhood overall. There are many buyers looking for a gated community in the Santa Maria and Orcutt area, and the La Ventana community has a lot to offer: a beautiful community club house and pool, generous floor plans, gorgeous luxury town homes, and a convenient location near Marian Medical Center.
Legal Aid's Annual Taste for Justice Wine Tasting Event is coming around again. The event will return to the Loading Dock in Orcutt. Last year, we held it at the Discovery Museum in Santa Maria and it was a blast. We also introduced the first Gourmet Gavel food competition and beer tasting. Both new elements were a huge success and we are going to continue them. Allan Hancock College culinary students will compete and will be judged on a challenge dish they prepare. Local restaurants will provide appetizers, local breweries and wineries will pour, and a live auction will be held. Tickets are $45 in advance and $50 at the door. The event this year will be held on Saturday, March 6, 2009 from 1pm - 4pm. If you would like to buy a ticket, give me a call at (805) 878-9879 or click here and buy tickets online.
