lompoc real estate Archives | Page 2 of 2

Lompoc Real Estate: Lompoc Condos For Sale & Market Update

Are you in the market for a condo in the Lompoc CA area? (93436) There are currently 37 condos (and PUDs) listed for sale in the Lompoc real estate market. The average asking price is about $152,000 and sellers are…

2010 Snapshot: Lompoc Foreclosures

September 28, 2010
Vandenberg AFB Homes
Foreclosure / Bank Owned (REO) Info, Lompoc / Vandenberg Village

Lompoc California foreclosure activity: There are 213 active and pending homes and condos in Lompoc currently. Of those 213 properties, 49 homes and condos are foreclosures and 80 are short sales. So, 60% of Lompoc inventory is either a bank owned property or a distress sale. The median asking price for an actively listed home is $245,000 with 68 days on market; for condos the median is $135,000 with 49 days on market. Looking back six months, there have been 227 sales in Lompoc with an average listing price of $235,353, and an average selling price of $234,060, so sellers are getting about 99.4% of their asking prices in Lompoc indicating that there is not much bargaining room for buyers in this market.

Santa Maria and Lompoc First Time Buyers, FHA Loan Info

January 10, 2010
Vandenberg AFB Homes
Buyer Info, Lompoc / Vandenberg Village, Santa Maria

What is an FHA loan? -- Essentially a FHA loan is a loan that is guaranteed by the Federal Housing Administration. Lenders typically do not want to lend unless on a home unless a buyer has a 20% down payment. If there is less than a 20% down payment, mortgage insurance is required. And, in today's market unless you have a credit score at least 720 or above you won't be able to get mortgage insurance.