1) For an “as-is” purchase – Banks don’t like to make repairs, and you will find that the Santa Maria real estate is littered with bank sellers who intend to make no repairs to their properties. This may even include situations where the property has been cited by the City of Santa Maria for violations of the municipal code.
Built by a local developer, Inland Pacific Builders, Pacific Crest is conveniently located on the south end of Santa Maria and a short 20 minute commute to the main gate of Vandenberg AFB. The Pacific Crest homes were constructed beginning about 2005, and the last few homes are still being sold by the developer. The floorplans are some of my favorites built in Santa Maria, with circular interior entries, spacious kitchens, and luxurious master suite options.
What is an approved short sale? Let's start with what a short sale is -- a short sale is where the owner owes more on their loan than their home is worth but they still must sell the home. So, the home is placed on the market and offers are accepted -- subject to lender approval. Lender approval can take months to obtain. An approved short sale is a short sale where the seller has already received approval from the bank. So, usually they list the property at a price that the bank has already indicated that they will accept, and they typically indicate how much closing costs credit and any repair credits the bank will allow.
Rice Ranch is a master planned commmunity of new homes and condos in Orcutt California. On Labor Day, I visited the models at Rice Ranch in nearby Orcutt, California. Rice Ranch is a master planned community which will have new single family homes, high end condominiums, and a 26 acre sports complex and community park. The Orcutt California community will have over 300 acres of preserved open space. After viewing the master planned community, “Summerlin,” in Las Vegas over the Labor Day weekend, I was sold on the concept of a master planned community and curious to see how Rice Ranch was turning out.