Looking at the luxury real estate market in Pismo Beach, there are currently 52 homes and condos priced above $700,000 with an average list price of about $1,289,000 and 180 days on market, and a median asking price of $1,062,500. Average asking price is about $550 per square foot. Looking at the Pismo Beach luxury foreclosure market, there was one active luxury foreclosure listing and there were no available short sales in Pismo Beach. There are two contingent short sales, and one pending foreclosure (REO) sale.
The sold data from the last 6 months creates a slightly different picture, of the 12 Pismo Beach luxury home sales, 2 were foreclosure sales. So, luxury and estate home buyers in the Pismo Beach real estate market do have an appetite for foreclosure bargains. Overall, of sold luxury Pismo Beach homes the average list price was $1,030,825, and the average selling price was $921,353. So, Pismo Beach luxury home sellers are getting about 89.38% of their asking price and about $451 per square foot, indicating that there is a tremendous amount of bargaining room in this market for buyers. In the Pismo Beach area, the luxury home market includes developments such as Sunset Palisades, the Villas, Playa Del Sol, Shell Beach, Dolphin Bay Resort, Pismo Heights, and the Bluffs.
*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.
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:
This week, Capital Pacific Homes invited local agents and REALTORS to an open house for their new community, Providence Landing, located in Vandenberg Village. It was a fun opportunity to tour their new home models again. During the behind the private behind the scenes look, Capital Pacific revealed the new builder incentives they are offering buyers which include:
