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
Montalegre homes were built around 2001 - 2003. The community consists of one and two story floor plans and borders a large open greenbelt space and playground area. The homes are primarily three and four bedroom plans; however, one of the plans did have a fifth bedroom option when originally built. Montalegre Homes range from approximately 1200 - 2000 square feet in size, they offer stucco exteriors and tile roofs, and are within walking distance of Liberty Elementary School and a community park.
When looking at the Snta Maria California and Orcutt California market overall, currently there are approximately 700 homes on the market, and approximately 60% of single family homes and condos are either short sales (sometimes referred to as pre-foreclosures) or bank-owned properties (REOs). And, in the past 30 days, approximately 130 single family homes have closed escrow, and about 60% of those were REOs, and around 15% were short sales.
