River OaksRiver Oaks is a newer subdivision of homes located in northeast Santa Maria. Building began around 2001 and there are at least 5 different floor plans. The subdivision is home to Taylor Elementary School which lies at the center of the development, a man made lake, and direct access to riverbed adjacent biking and walking trails. There are two one story plans, both are smaller 3/2 homes at about 1400 sq.ft. and 1600 sq.ft.; the two story plans begin at about 1900 sq.ft. and go up to at least 2700 sq. ft., depending on the options the original owner selected. Some of the 2 story models have 3 car garages, one plan has a downstairs master bedroom, and at least one of the other plans has a downstairs guest bedroom option. Looking back at the 3 month period from November 2008 – January 2009, 17 homes sold in the River Oaks subdivision, with an average selling price of about $284,000, and an average list price of about $294,000.
Walking Trails at RiverbedSold 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. The smaller one story models sold for between $250,000 – $268,900; the larger two story models sold for between $284,000 – $338,000. Currently in River Oaks, there are 14 homes that are active, contingent or pending. 5 active listings, 1 contingent listing, and 8 pending listings. 7 are REOs (bank owned) and 7 are short sales — so all the current listings are either foreclosures or pre-foreclosures. Current listings have been on the market an average of 116 days, and have an average asking price of $293,000.
Lake at River OaksIf you would like information or a list of available home foreclosures, condos, or short sales in the Santa Maria – Orcutt CA area, send an email to me at tni@mintprop.com. You can also search for properties on my websites: iLoveSantaMaria.com, SantaMariaRealEstateSearch.com, & BuySantaMariaForeclosures.com (map based search), If you are considering selling and would like a list of nearby sold properties for comparison, send me a request at SellMySantaMariaHome.com. If you have questions about a specific property, or would like to set up an appointment to consult about a possible short sale of your property, I can be reached at (805) 878-9879.
*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
Those looking for a quick pleasure trip need look no further than our own Santa Maria airport for transportation to that get away of all get aways, Las Vegas. You don't have to go to Santa Barbara or Los Angeles for a direct flight anymore.
Are you in the market for a condo Santa Maria CA? There are currently 98 condos listed for sale in the Santa Maria real estate market. The average price is about $170,000 and sellers are asking about $124 per square foot for condominiums.
I realize this is a controversial subject, but I do agree that freezing foreclosures or trying to turn back the clock only benefits a limited group of people. In California, most people who are losing their home to foreclosure are severely underwater and I find that once the foreclosure happens, a sense of relief soon follows that they can put the whole thing behind them.
Tni LeBlanc, JD, M.A., e-PRO