Santa Maria short sales Archives | Vandenberg AFB Homes

Will My Lender Pay My Delinquent Property Taxes As A Part of My Short Sale?

The answer is maybe. It is not uncommon for a short sale seller in financial distress to have unpaid property taxes. During the housing boom, many lenders did not require tax and insurance impounds.

Short Sale Approval Received in 26 Days from Well Fargo Home Mortgage!

I just received short sale approval from Wells Fargo in 26 days! It was a total of twenty six days from when the short sale application was submitted to the lender until I received the short sale approval letter in my email box.

Will the Bank Pay My HOA Dues As a Part of My Short Sale?

Even without a lien, a large amount of unpaid dues can become an issue. And, if the bank won't pay and you as the seller can't pay - it could make your short sale difficult to close. A better solution is to start on your short sale early while not much is owed on HOA dues, keep those dues current, or, at the very least out of collections.

How Time Can Run Out On Your Santa Maria Short Sale

One of the worst things that distressed Central Coast homeowners do is waiting until the clock is ticking before contacting a short sale agent. When does the clock start ticking? I tell people it starts ticking when you stop paying. Ideally, if you know a financial hardship is imminent, you should begin exploring your options, including a short sale, before any payments are even missed. In its recent Open Letter on Short Sales, the California Association Realtors reports that according to surveyed California Realtors® only about three out of five short sales close.

Can I offer less than the asking price on an approved short sale?

The answer to this is, yes, definitely. An approved short sale is a short sale where the bank has already indicated acceptable price and terms. As the HAFA program comes into greater usage, we will supposedly see more approved short sales on the market. The HAFA program provides a way for sellers to get an approved price on their short sale before listing it on the market.

Top 5 Short Sale Myths

Myth #1: I have to be an owner occupant to qualify for a short sale. Where did this myth come from? I’ve done short sales for investors and non-owner occupants. They happen all the time. I just listed a home where the lender told the owner to do a short sale on their rental property. You can sell your investment or rental property via short sale.

Santa Maria Real Estate: Tips for Buying Santa Maria Foreclosures

October 5, 2010
Vandenberg AFB Homes
Buyer Info, Foreclosure / Bank Owned (REO) Info, Santa Maria

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.

Santa Maria – Orcutt 2009 Real Estate & Foreclosure Market Update

January 14, 2010
Vandenberg AFB Homes
Foreclosure / Bank Owned (REO) Info, Santa Maria, Short Sale Info

1275 single family homes sold in Santa Maria and Orcutt in 2009. This excludes PUDs, condos, and manufactured homes. This figure is slightly higher than the 1230 homes which sold last year. 175 condos and PUDs sold during the same period in 2009; compared to 130 units in 2008. So, overall the number of sales in Santa Maria and Orcutt is up.

The Hidden Pines Development, Santa Maria CA Gated Homes Community Update

December 28, 2009
Vandenberg AFB Homes
Santa Maria

Are you looking for a home in a gated community in Santa Maria? You may want to check out the homes in Hidden Pines. It is located near Preisker Park and across the street from the gated community of Regency Estates.

Where Have all the Houses Gone in Santa Maria – Orcutt?

When I searched the MLS for active properties this morning, I came up with 158 single family homes or condos for sale. 29 of those listings are short sales, and 35 are active REO listings. There are 234 contingent listings, and 222 of them are short sales. In the last 30 days, 131 homes have sold, with an average price of about $250,000, average price per square foot of $150, and averaging about 75 days on market. 28 of those sold homes were closed short sales, and 61 were REO (bank owned property) sales. Average days on market for short sales were about 120 days (this reflects the time period to obtain bank approval), and average days on market for REO listings was about 53 (this includes the time it takes to get the contract finalized by the bank).