Vandenberg AFB Homes, Author at Vandenberg AFB Homes

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

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.

Homeowners Assistance Program: Help for Vandenberg Air Force Base Homeowners?

April 25, 2009
Vandenberg AFB Homes
Lompoc / Vandenberg Village, Short Sale Info

The Department of Defense has announced the Homeowners Assistance Program ("HAP")for eligible military personnel. The central coast is home to Vandenberg Air Force Base and HAP may assist those who have suffered due to the severe local housing bust. Several types of assitance are offered:

Bank Owned (REO) Delays in the Central Coast Market

April 18, 2009
Vandenberg AFB Homes
Central Coast Real Estate, Foreclosure / Bank Owned (REO) Info

You would think that once a bank found a willing buyer, who won the "highest and best" bidding process for a foreclosure property, they would be hot to close the transaction. Well think again. I've actually had an all cash buyer trying to close in 10 days (or less) and the bank and their escrow company simply were not able to do it! The buyer couldn't believe it, but having dealt with REO properties many times before I certainly could There are several delays that seem to happen time and time again in bank owned purchases:

Who Pays the Real Estate Commission in a Short Sale Transaction?

The number one question I'm asked by home owners contemplating a short sale is "Who pays your commission?" Often people are already cash strapped in a short sale situation and they wonder if they have to pay a real estate agent out of their own pocket in order to short sell their property. The short answer is that is the bank. Of course, every real estate company writes their own listing agreements. Some require that owners make up any short fall in what the bank will pay with their own funds. But, most will settle for what the bank will agree to pay them.

Clean Up Your Credit Before Shopping for a Central Coast Home

I've recently found a company that I feel good about referring people to for credit repair. I am often asked for credit repair referrals from prospective buyers. However, until recently I never felt confident sending people anywhere except off to a local book store to learn how to do it themselves -- which is a lot of work. For those who want assistance with their credit repair, please give me a call and I will provide you with contact information for this company. I feel confident referring people to them because they are using local representatives who have long standing relationships with the local community who can provide testimonials of people helped by the service, the price is reasonable at $500, and they offer a performance based gurantee.

Are Santa Maria & Lompoc Condos Good Investment Properties?

March 31, 2009
Vandenberg AFB Homes
Lompoc / Vandenberg Village, Santa Maria

Prices of many condos are finally well beneath $100,000 in Santa Maria and Lompoc, which make some condos a good option for investors even with the added expense of a monthly condo fee. There have been some 2 bedroom condos listed as low as $59,000. If you compare a home in the local area that you can purchase for $100,000, you would be looking at a much older home or a smaller cottage with limited rental value and appeal. Everything on the exterior of the home is typically covered by the condo association, cutting down on the responsibility for landlords.

Best Sushi Restaurants in Santa Maria CA

I know the Santa Maria Sun publishes a list of local favorites every year, but because I LOVE sushi so much, I feel qualified to publish my own list of favorite sushi restaurants in Santa Maria. If I were going on a business lunch or going out to dinner I would probably go to Ichiban (805) 614-9808 at 2011 S Broadway (next to Family Health & Fitness) great authentic food, private booths and sushi bar seating available.

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

March 25, 2009
Vandenberg AFB Homes
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

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.

Central Coast Investor Tip — 20% Down Payment Required

March 22, 2009
Vandenberg AFB Homes
Buyer Info, Central Coast Real Estate, Lompoc / Vandenberg Village, Santa Maria

For those looking to buy your first rental property, or pick up an extra one now that prices make sense again, be aware that lenders have rolled back the down payment requirements for investment property. Most lenders I polled recently say that a 20% down payment is required for an investment property. Many of us remember when lenders required a 30% down payment for investment property, and I wonder how long it will be until we are back to those days. Lenders slowly but surely increased the down payment requirement for investors during the housing boom and have slowly but surely increased that obstacle again.