Vandenberg AFB Homes, Author at Vandenberg AFB Homes

Buying Central Coast Foreclosed Properties at Auction

I attended a foreclosed home property auction hosted by Hudson & Marshall in Ventura last evening. Fortunately, my client was successful in his bid so it was worth the trip down for both of us. He was also able to save about $80,000 off the list price of the property. It was an exciting event and we were both still on a high while we waited with the other winners to sign contracts. All the winning bids are subject to investor/bank approval which will take about 5-7 days to obtain, so we will know if the deal will stick in about a week.

Village of Northpoint Condos, Orcutt CA Market Update

February 20, 2009
Vandenberg AFB Homes
Santa Maria

The Village of Northpoint condominium community offers a tucked away feel in the heart of Orcutt to its residents. Located just off Foster Road and within walking distance of both Righetti and St. Joseph's High Schools, this development boasts a pool, clubhouse and tennis courts. Mature trees line the blacktopped streets dotted by clusters of townhomes with blue tinted tile roofs. There are 3 and 4 bedroom plans, each with the bedrooms upstairs and the main living space downstairs.

Santa Maria CA & Orcutt CA New Home Buyer Alert – $10,000 California Tax Credit

February 19, 2009
Vandenberg AFB Homes
Santa Maria

The California Association of Realtors reports that the newly signed California budget provides for a tax credit of up to $10,000 for new home buyers. The credit will apply to purchases made between March 1, 2009 through March 1, 2010. Buyers are eligible for a credit equal to 5% of the purchase price of the home u to a mxaimum of $10,000. It does not apply to the purchase of existing homes; but it does apply to any buyer (not just first time buyers) as long as they are purchasing a primary residence.

Bank Owned Bidding Wars in the Santa Maria – Orcutt CA Foreclosure Market

February 17, 2009
Vandenberg AFB Homes
Buyer Info, Foreclosure / Bank Owned (REO) Info, Santa Maria

Is it a great time to buy? Yes. Interest rates are at historic lows, Congress just passed an $8000 tax credit for first time buyers, and prices just keep getting better and better. There are plenty of folks who are taking advantage of this opportunity. As such, jumping into the current market for foreclosure properties in Santa Maria - Orcutt CA can be a rude awakening for potential buyers. Currently, there is a lot of competition for foreclosed properties. REOs comprise the majority of sold properties in the Santa Maria and Orcutt housing market.

Santa Maria CA & Orcutt CA Short Sale Buyer Information

With the majority of single family homes and condos being listed as "short sales" in the Santa Maria CA and Orcutt CA market, buyers are considering this type of listing more often. A "short sale" is a property listing where the owner owes more than the homes' current value, but still desires/needs to sell. Unfortunately, this is not an uncommon position for sellers in Santa Maria CA.

Santa Maria CA Foreclosure Buyer Alert – $8000 First Time Home Buyer Credit Approved

February 13, 2009
Vandenberg AFB Homes
Santa Maria

If you are sitting on the fence about buying, Congress just gave you another reason to jump into the market for foreclosures in Santa Maria, CA. The recently passed stimulus bill modestly increases the first time home buyer credit from $7500 to $8000. But more importantly, buyers now do not have to pay the credit back as long as they stay in the home a minimum of 3 years.

River Oaks Market Update & Santa Maria CA MLS Home Listing Search

February 11, 2009
Vandenberg AFB Homes
Santa Maria

Sold listings were on the market an average of 77 days, were about 1900 sq.ft., and sold for about $155 per square foot. 12 of the 17 sold homes were REOs, 3 were closed short sales, and only two were regular sales. 88% of the sold activity in this neghborhood was forelcosure related; so, like many other developments that were built during the housing boom River Oaks is now overloaded with foreclosures during the housing bust.

Mission Creek Village Condos vs. Oak Creek Villas (Santa Maria CA & Orcutt CA Condos)

The Mission Creek Condos and Oak Creek Villas were built by local builder, Inland Pacific, who is also currently finishing up Pacific Crest in Westgate Ranch. Oak Creek and Mission Creek offer the same basic floor plans and amenities; however,…

Arroyo Grande CA 2008 Market Update & Free MLS Listing Search

In 2008, a total of 276 homes and condos sold in Arroyo Grande, CA. 243 were single family homes, and 33 were condos or in planned unit developments. Average home price was approximately $648,000, $331 per sq ft., and sold after 130 days on market. The lowest resale home price was a 2 bedroom 2 bath bank owned twin home in an age restricted community that was 1064 sq. ft. and sold for $190,000. $650,000 would have purchased a 3 bedroom, 4 bath, 2330 sq. ft. lakeside home with granite countertops and a golf cart bay in the gated golf course community of Cypress Ridge.

Lompoc CA & Vandenberg Village CA 2008 Market Update & MLS Listing Search

There were a total of 400 homes sold in the Lompoc and Vandenberg Village areas in 2008. 346 were detached dwellings, and 54 were attached residences. Of the 400 sold, 226 were REOs (bank owned) and 31 were short sales. So, a total of 257 out of 400, or 64% were foreclosure related sales. Thus, the Lompoc market is thoroughly dominated by foreclosure activity; it is the primary force moving the market.