http://www.classifiedflyerads.comClassifiedFlyerAds.com Feedhttp://www.classifiedflyerads.com/images/headerlogo.gifhttp://www.classifiedflyerads.comCentral Coast Real Estate:  5 Reasons You Shouldn’t Buy a Home in an HOA development 1)      You don’t like mowing your lawn.  If you like for nature to take its course with your front lawn, you may not like the experience of living in an HOA community.  You may get letters and/or fines for trying to get back to nature. 2)      You think paying monthly fees sucks.  Yes, and those monthly fees could also increase. If you don’t like the idea of paying monthly fees or the prospects of fee increases, an HOA development may not be for you. 3)      You love your RV or boat.  If you want to keep your trailer near you, you may not want to live in an HOA development.  Most Central Coast HOAs have rules that either entirely prohibit parking recreational vehicles or severely restrict their parking.  4)      You want to paint your house purple.  Most HOAs are going to weigh in on the choice of color for your home.  So, if you are on the eccentric side when it comes to color, you may have trouble getting your color choice by the Architectural Review Committee of your HOA. 5)      You don’t like people telling you what to do.  In general, if you don’t like some group or organization having authority over you, a home with an HOA may not be right for you.  HOAs communities generally look nicer than other communities because they demand that home owners keep their property up to a certain standard, but the price paid for that is being monitored and giving some authority to the HOA over you. Looking for a home outside of an HOA development?  Call me at (805) 8789879 so I can give you a list of available Central Coast homes that are outside of an HOA development. Tni LeBlanc, Broker Mint Properties Copyright © Tni LeBlanc 2010 Central Coast Real Estate:  5 Reasons You Shouldn’t Buy a Home in an HOA developmenthttp://www.classifiedflyerads.com/blog/5-Reasons-You-Shouldn’t-Buy-a-Home-in-an-HOA-development/9476/post_details/6149/2010-11-07 08:47:14 How to Buy Foreclosures in Santa Maria:  What Type of Offers do the Banks Want? Cash Offers.  Banks love cash offers.  Why?  Because they can close quickly and without any requests for repairs from a buyer.   What is the down side to a cash offer from a bank’s point of view?  Cash offers tend to be lower than financed offers.  However if the banks knows the property is in very poor condition, they will accept a lower cash offer over a higher financed offer in the hopes of not getting mired down in repairs.  Offers with limited or no contingencies.  Banks want to limit the possibility that the buyer will back out.  Submitting a limited or no contingency offer has its risks for buyers and should not be done without consideration for the fact that you may lose your deposit if anything goes wrong.  However, even if you don’t limit contingencies in your initial offer, it is pretty standard for banks to counter with a limited inspection period and a limited timeline for securing financing. Conventional financing.  Banks prefer conventional financing offers to FHA or VA financing offers.  Accepting an offer with FHA or VA financing may require that the bank to make repairs to the property.  In fact, VA financing will not allow the buyer to pay for repairs, so the seller must make the repairs.  FHA financing allows the buyer to pay for the repairs; however many FHA buyers cannot afford to given that FHA is a low down payment financing option for those who do not have a 10% or 20% down payment saved.  Nowadays, conventional financing will typically require at least a 5% down payment, but more typically it will require at least a 10% down payment. If you are looking to purchase a foreclosure in the competitive Santa Maria or Orcutt market, you need an experienced agent to guide you through the process of making an attractive offer that the bank will accept.  Call me today for a free foreclosure buyer consultation (805) 8789879. Tni LeBlanc, Broker Mint Properties Copyright © Tni LeBlanc 2010How to Buy Foreclosures in Santa Maria What Type of Offers do the Banks Want?http://www.classifiedflyerads.com/blog/What-Type-of-Offers-do-the-Banks-Want/9476/post_details/6148/2010-11-07 08:38:14Santa Maria Homes for sale– Classics at Bradley Square Update Video Clip Traditions & Classics at Bradley Square in Santa Maria Santa Maria Homes For Sale up to $250,000 Classics Home in Bradley Square in Santa Maria CA The Classics at Bradley Square is community of newer homes for sale in southeast Santa Maria; it is near much of the new shopping in south Santa Maria (Home Depot, TJ Maxx, Best Buy) and it is also adjacent to the award winning Rotary Centennial Park.  Local builder, Inland Pacific began building the Classics in about 2003.  Because most of the homes were sold new during the height of the housing boom, many if not most of the current and recent sales in the development are foreclosures or distress sales.  In the past 6 months, there have been 10 sales in the Classics Development, two were “regular” sales, one was an investor flip, 5 were foreclosures, and 2 were successfully closed short sales. The average sale price was $312,400, compared to an average list price of $316,620; average price per square foot paid by Classics home buyers was $168.92, with 156 days on market (short sales averages are heavily skewing the days on market in this neighborhood, with one short sale taking 826 days!).  Santa Maria Homes For Sale $250,000 $300,000 So, Sellers are receiving about 98.6% of their asking price in the Classics development, indicating that the development still has much appeal for buyers.  There are currently 3 pending home sales in the Classics homes for sale in Santa Maria, and the asking price of the pending homes in much lower than the closed sale average for the past six months.  Two of the pending homes have asking prices of $275,000 and one has an asking price of $280,000, indicating a downward trend in prices.  There are eight contingent short sales currently, with a median asking price of $289,950.  Of 5 the active properties, 1 is an investor flip, one is a short sale, 1 is a regular sale, and there is one REO (foreclosure).  So, the majority of homes for sale in the Santa Maria Classics development are distress sales at this time. Santa Maria Homes For Sale $300,000 $350,000 Classics is a charming community close to all the amenities in Santa Maria that home buyers want. Other newer home communities in Santa Maria and Orcutt include Traditions at Bradley Square, Harvest Glen, Cambridge Cottages, Stonegate, Cobblestone Creek, Pacific Crest Estates, and La Ventana.  If you are looking for a home in one of these Santa Maria or Orcutt developments, call me today for an appointment (805) 8789879. Tni LeBlanc, Mint Properties www.MintProperties.net Based on the information from the Central Coast Regional MLS. The Association, the Multiple Listing Service, nor 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 Copyright © Tni LeBlanc 2010Santa Maria Homes for salehttp://www.classifiedflyerads.com/blog/Santa-Maria-Homes-for-sale--Classics-at-Bradley-Square/9476/post_details/6132/2010-11-03 09:16:57         Orcutt New Homes:  Rice Ranch Opens a New Neighborhood!   View of Hills from Models at Rice Ranch in Orcutt Have you visited the models at the Orcutt new home community, Rice Ranch lately?  I went by on Saturday to take a peek.  They are still selling “The Oaks” Neighborhood with prices ranging from $445,000 – $575,000, and floor plans ranging from 1777 – 2878 square feet.  The upgrades included are impressive: granite counter tops, 9 1/2 – 10 foot ceilings, surround sound wiring in great rooms, two tone interior paint, fully insulated exterior walls and ceilings, and cermaic tile flooring in the kitchens. Recently, the Rice Ranch Community opened the Pine Creek neighborhood adding another quality group of new homes to the Orcutt area.  The Pine Creek neighborhood of Rice Ranch have larger lots and larger homes.  Prices in Pine Creek begin at $555,000 and go up to $585,000.  Floor plans begin at 2326 square feet and go up to 2878 square feet.  Rice Ranch is a new master planned community of new homes in the Orcutt community.  It includes a community park and dog park and tons of open space in keeping with the overall rural nature of the Orcutt community.  Model Homes at Rice Ranch in Orcutt If you are looking for a new home in Orcutt, you may want to visit the new home communities of Stonegate, Old Mill Run, The Enclave at Harp Springs and of course Rice Ranch.  Be sure to call and schedule an appointment with me to tour these new home developments.  It is important to have your own REALTOR when buying a new home.  The agents in the office only represent the seller.  Best of all, it doesn’t cost anything to have your own Realtor.  Call me to today to check out all of the wonderful Orcutt new homes (805) 8789879. Tni LeBlanc, Mint Properties (805) 8789879, tni@mintprop.com Copyright © Tni LeBlanc 2010Orcutt New Homes – Rice Ranch http://www.classifiedflyerads.com/blog/Orcutt-New-Homes-Rice-Ranch-Opens-a-New-Neighborhood!/9476/post_details/6117/2010-10-31 19:55:46Santa Maria Homes La Ventana Snapshot Update Santa Maria Homes up to $250,000 La Ventana is a community of single family homes and luxury townhomes in northeast Santa Maria; its location is ideal for those who need to be near Marion Medical Center and the surrounding medical office complexes. Local builder, Inland Pacific, began selling homes in the La Ventana development around 2005 and because these Santa Maria homes were sold new during the height of the housing boom, many if not most of the recent resales in the development are foreclosures or distress sales. In the past 6 months, there have been 4 sales reported in MLS in the La Ventana Development, 3 were townhomes sold by the developer. The builder held back several townhomes when the market went bust, and is now slowly releasing them onto the market. Many of those withheld units were used as high end rentals. Of the 4 sold units, 3 were townhomes which sold for between $290,000 $300,000, and one was a 5 bedroom, 4 bath, 3000 square foot home which sold for $370,000. Santa Maria Homes $250,000 $300,000 Comparing asking prices to listing prices, currently, sellers are receiving 100% of their asking prices for these Santa Maria homes, indicating that the La Ventana development still has much appeal for buyers. There is currently one pending townhome in the La Ventana development with an asking price of $290,000, but there are two contingent short sales; one contingent townhome with an asking price of $260,000, and one single family home with a list price of $325,000. Of 7 the active properties, 1 is an REO townhome, 3 are "new" townhomes listed by the builder, 2 are foreclosure homes, and 1 short sale home. So, the majority of currently listed resale Santa Maria homes in La Ventana are distress sales at this time. Santa Maria Homes $300,000 $350,000 In my opinion, La Ventana is one of the most beautiful newer developments in Santa Maria and Orcutt. Currently, the residents of La Ventana are considering gating the community which will further add to its apeal with Santa Maria home buyers. The well appointed community room is available for residents to use for parties and it adjoins an outdoor pool and fireplace. It is an ideal location for sophisticated celebrations and playful pool parties. Other newer home communities in Santa Maria and Orcutt include Cobblestone Creek, Mesa Verde, Pacific Crest Estates, Classic at Bradley Square, Traditions at Bradley Square, Old Mill Run, Stonegate, The Enclave at Harp Springs, and the new master planned Rice Ranch Community. If you are looking for a Santa Maria home or Orcutt home in one of these developments, call me today for an appointment (805) 8789879. Tni LeBlanc, Mint Properties www.MintProperties.net Based on the information from the Central Coast Regional MLS. The Association, the Multiple Listing Service, nor 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. Copyright © Tni LeBlanc 2010Santa Maria Homeshttp://www.classifiedflyerads.com/blog/Santa-Maria-Homes--La-Ventana-Snapshot-Update/9476/post_details/6087/2010-10-30 09:01:58 Top 5 Short Sale Myths Top 5 Short Sale Myths:  A Message to Potential Short Sale Sellers            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 nonowner 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.      Myth #2: I'm upside down and that is not enough to qualify for a short sale.  First off, rarely do people want to short sell just because they are upside down.  Usually there is a trigger:  a job loss, interest rate change, divorce, etc.   Every lender uses different criteria to approve short sales.  The handwriting is on the wall, and some lenders understand that being severely underwater means you are at risk for default later on down the road.   Many lenders prefer short sales to loan modifications.  Being upside down impairs your ability to sell your home which can be a financial hardship.     Myth #3:  I need to be bankrupt to qualify for a short sale.   In cases where a borrower has assets, many times banks will negotiate a small contribution in exchange for approving a short sale.  They don't advertise this fact openly, but it occurs with regularity.  Sometimes, no contribution from the seller is required at all.  You don't have to be completely broke to qualify for a short sale.  Myth #4: I need to miss payments to qualify for a short sale.  Banks approve short sales without missed payments.  This is also better for your credit.  If you know that the time is fast approaching that you will not be able to make your payments, you can approach your lender about a short sale while you are still current. Myth #5:  I can't afford to pay a real estate agent's commission so I can't afford a short sale.  Typically, you don't have to pay your real estate agent's commission when going through a short sale.  All the major expenses of selling your home are included in a short sale.  This includes escrow, title and real estate commissions.  The real estate commission is deducted from the lender's "net recovery" as an expense of sale.  Contact my office today at (805) 8789879 for a free short sale consultation, or visit my website www.santamariashortsales.com for short sale basics. Those considering a short sale are advised to consult with their own attorney for legal advice, and their tax professional for tax advice prior to entering into a short sale listing agreement this blog does not offer legal and tax advice.  This post offers general information only which may not apply to your specific situation. Tni LeBlanc, JD, M.A., ePRO, CDPE Mint Properties DRE License # 01871795 (805) 8789879 (mobile) tni@mintprop.com Santa Maria Real Estate Blog   http://www.classifiedflyerads.com/blog/Top-5-Short-Sale-Myths/9476/post_details/6068/2010-10-28 04:46:08  Lighthouse Tower at Lavigna Pool Lavigna is a new gated community of detached townhomes in the southwest part of Santa Maria referred to as the "Westgate Ranch" area. There is a lot of recent building in this area: Pacific Crest, Harvest Glen, St. Claire (now rental apartment homes), and Siena (planned). Recently, the City of Santa Maria built out Battles Road which improved accessibility to the area greatly. There are also plans to build out Carmen Lane which will further unite the Westgate Ranch area with the south end of Santa Maria. Even without the Battles and Carmen build out, the area offers great accessibility to Vandenberg AFB with a straight shot out Blosser/Skyway to Highway 135/Broadway.     Lavigna Community Lavigna offers a community pool with a Lighthouse tower, tot lot, and a community green belt area; it sits directly adjacent to Liberty Elementary School. I just visited the model homes yesterday and they all look appealing. The floor plans range from 1700 sq. ft. to 2200 sq. ft. with at least two offering an optional bedroom downstairs. By purchasing a new town home, you have the luxury of building the townhome out exactly the way you prefer. I would recommend taking a buyer's agent with you when looking at new homes. We can provide great advice during the process as the sales agents in the office usually exclusively work for the seller/builder. A buyer's agent can give you advice about which options will help you resell the unit, as well as current comparative sales information for similar resale units. Lavigna recently reduced some of their prices and they now range from the low $300,000's to around $330,000; and home owners association dues are $113 122 a month.     Arborwalk Townhomes Built in 2004 and 2005, Arborwalk is located at the intersection of Miller & McCoy in the heart of "New" Santa Maria. This gated development is close to shopping, banks, and restaurants and it offers a fitness trail, greenbelt basin, and rose gardens throughout. Once you drive home you truly don't need your car; you can get out and walk to everything; units in this development earn high "walkability" scores. These detached town homes are excellent for buyers who don't want the obligations of yard work but still need a little outdoor space for their pet and/or a BBQ grill. Also, these homes are fantastic for investors who plan to market a rental to nearby Vandenberg Air Force Base. Arborwalk is tremendously attractive to potential renters as it sits adjacent to grocery stores, coffee shops, and restaurants.     Greenbelt at Arborwalk Townhomes Monthly HOA dues in Arborwalk run about $95 per month, and floor plans range from 1600 to 2400 square feet. There are 5 floor plans offering balconies, picket fences, and generous master bedroom suites. There is at least one floor plan that has a bedroom and full bath downstairs. Arborwalk is completely sold, so there are only resales in this development. As these units first sold during the housing boom, most of the current sales are short sales or foreclosures (REOs). In the last 3 months of 2008, resales prices ranged from $237,000 for a 1650 sq. ft. model to $284,000 for a 2150 sq. ft. home, with a median selling price of $250,000.     Somerset Gardens For those interested in high end townhome developments, but who don't require a gated community, the communities of Somerset Gardens, Stonebridge, The Villas at La Ventana, and Foxenwood Garden Villas should be explored. They each offer open floor plans, well maintained grounds, and generous amenities to their residents. If you would like to search for Santa Maria Orcutt CA properties, I offer three ways to search for property on my websites: SantaMariaRealEstateSearch.com, iLoveOrcutt.com, BuySantaMariaForeclosures.com. Or if you would like to receive email alerts about properties, send me an email request at tni@MintProp.com, or if you would like me to arrange a personalized tour of Santa Maria area properties please give me a call at (805) 8789879 and I will set it up for you.   Tni LeBlanc, JD, M.A., ePRO Broker/Owner, Mint Properties www.iLoveSantaMaria.com www.SellMySantaMariaHome.com www.SantaMariaRealEstateBlog.com www.SantaMariaRealEstateSearch.com 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.http://www.classifiedflyerads.com/blog/Santa-Maria-CA-Gated-Townhome-Communities-Arborwalk-amp-Lavigna/9476/post_details/6001/2010-10-17 15:21:10January 14, 2009 Luxury Townhomes in Santa Maria Orcutt CA The Villas at La Ventana & Somerset Gardens   Somerset Gardens   Both the Villas at La Ventana and Somerset Gardens townhomes were built by a well respected local builder, Inland Pacific, who is currently finishing the Pacific Crest development in the Westgate Ranch area. The townhome floor plans offered in each community are virtually identical. There are three basic floor plans in each. These upscale townhomes offer no maintenance patios, gas fireplaces, and two car garages. The standard features in these communities were very generous, so even units that were not upgraded maintain a very elegant feeling. Santa Maria Real Estate $350000 – and up   The Villas at La Ventana   Plan A, the only one story unit, is approximately 1600 sq. ft. with 3 bedrooms and 2 baths, and features a "great room" kitchen / family room combination. Plan B, the most popular floor plan, is about 2000 square feet and also offers a great room plan, plus a half bath for guests, and a downstairs master suite. Upstairs is typically a loft area which overlooks the great room, but the floor plan varies some depending on the original owner's selection and can instead be built out as a walled off bonus room. Two additional bedrooms are upstairs along with a bath. This plan features an impressive sweeping windowed staircase off the main entry. Plan C is also over 2000 sq. ft. and offers a more formal approach to living with a separate dining room and living room off the entry, half bath, and a kitchen / family room combination in back. Depending on the options selected, upstairs features a loft or bonus room (or none), a master suite with a balcony, two additional bedrooms and an extra bath. Santa Maria Real Estate $350000 – and up   The Clubhouse at La Ventana   The Villas are a part of "La Ventana" built in 2006 2007 which feature homes with generous floor plans (2000 sq. ft. plus), a shared community clubhouse and pool, and the luxury townhomes at the Villas. The homeowners pay a monthly association fee of $95 per month, and the townhome owners pay association dues of around $150 per month. La Ventana offers excellent accessibility to Santa Maria's only hospital, Marion Medical Center and the surrounding medical office buildings. As a result, its location is favored by medical personnel. In addition, La Ventana sits directly adjacent to Santa Maria's newest high school, Pioneer Valley. When they originally sold, the townhomes were offered in the mid $300,000's, and then later the low $300,000 range as prices continued to decline with the housing bust. There are now a couple of Plan C short sales offered at around the $250,000 range. Santa Maria Real Estate $350000 – and up   Putting Green at Somerset Gardens   Somerset Gardens was built in 2003 2005 and unlike La Ventana, it is comprised exclusively of townhomes. It also offers a community clubhouse and pool, as well as a small putting green for kicks. For those who prefer an "in town" feel, Somerset Gardens offers a prime location within walking distance of grocery stores, new restaurants, and department store shopping. Monthly association dues are $167 per month. When offered new, the prices began in the low $300,000’s and went upward along with the housing boom. Currently, asking prices on resales in the development vary from $250,000 to $335,000, with two short sales and one "regular" sale being offered; there is one Plan B available and two Plan As on the market. If you would like additional information on resale units in these or other upscale townhome developments in Santa Maria or Orcutt CA, please send me an email request at tni@MintProp.com, and I will send you a list of available properties, or just give me a call at (805) 8789879. You can also search for listings on one of my websites which offer three different ways to search for Santa Maria properties: BuySantaMariaForeclosures.com, SantaMariaRealEstateSearch.com, and iLoveSantaMaria.com. Tni LeBlanc, JD, M.A., ePRO Broker/Owner, Mint Properties (805) 8789879, tni@MintProp.com www.iLoveSantaMaria.com www.SellMySantaMariaHome.com www.BuySantaMariaForeclosures.com www.SantaMariaRealEstateSearch.com 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.http://www.classifiedflyerads.com/blog/Luxury-Townhomes-in-Santa-Maria--Orcutt-CA/9476/post_details/6000/2010-10-17 15:16:21Top 5 Short Sale Myths:  A Message to Potential Short Sale Sellers            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 nonowner 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.             Myth #2: I’m upside down and that is not enough to qualify for a short sale.  First off, rarely do people want to short sell just because they are upside down.  Usually there is a trigger:  a job loss, interest rate change, divorce, etc.   Every lender uses different criteria to approve short sales.  The handwriting is on the wall, and some lenders understand that being severely underwater means you are at risk for default later on down the road.   Many lenders prefer short sales to loan modifications.  Being upside down impairs your ability to sell your home which can be a financial hardship.      Myth #3:  I need to be bankrupt to qualify for a short sale.   In cases where a borrower has assets, many times banks will negotiate a small contribution in exchange for approving a short sale.  They don’t advertise this fact openly, but it occurs with regularity.  Sometimes, no contribution from the seller is required at all.  You don’t have to be completely broke to qualify for a short sale.   Myth #4: I need to miss payments to qualify for a short sale.  Banks approve short sales without missed payments.  This is also better for your credit.  If you know that the time is fast approaching that you will not be able to make your payments, you can approach your lender about a short sale while you are still current.  Myth #5:  I can’t afford to pay a real estate agent’s commission so I can’t afford a short sale.  Typically, you don’t have to pay your real estate agent’s commission when going through a short sale.  All the major expenses of selling your home are included in a short sale.  This includes escrow, title and real estate commissions.  The real estate commission is deducted from the lender’s “net recovery” as an expense of sale.  Contact my office today at (805) 8789879 for a free short sale consultation, or visit my website www.SantaMariaShortSales.com for short sale basics. Those considering a short sale are advised to consult with their own attorney for legal advice, and their tax professional for tax advice prior to entering into a short sale listing agreement — this blog does not offer legal and tax advice.  This post offers general information only which may not apply to your specific situation.http://www.classifiedflyerads.com/blog/Top-5-Short-Sale-Myths-For-Potential-Short-Sale-Sellers/9476/post_details/5999/2010-10-17 15:08:03Santa MariaOrcutt Luxury Foreclosures Real Estate Update          Santa Maria Orcutt Luxury Homes $400,000 $500,000   Elkhorn Estates   Looking at the luxury real estate market in Santa Maria and Orcutt California, there are currently 57 homes priced above $400,000 with an average list price of $657,303 and 179 days on market, and a median asking price of $515,000.  Looking at the luxury foreclosure market, there were no active luxury foreclosure listings (there was one luxury REO and it was pending), and there were 7 available short sales.  However, the sold data from the last 6 months creates a different picture, of the 34 luxury home sales, 5 were foreclosure sales, and 3 were short sales.  So, luxury and estate home buyers in the Santa Maria and Orcutt area have an appetite for foreclosure bargains. Santa Maria Orcutt Luxury Homes $500,000 $600,000 Overall, of sold luxury homes, the average list price was $510,270, and the average selling price was $499,382.  So, Santa Maria & Orcutt luxury home sellers are getting about 97.8% of their asking price and about $188 per square foot.    Looking just at luxury foreclosures (REOs), the average selling price was $437,200 compared to an average asking price of $423,940.  So, luxury foreclosures in Santa Maria and Orcutt are being bid over asking price indicating a competitive market for executive and luxury foreclosure homes and real estate.   Santa Maria Orcutt Luxury Homes $600,000 $700,000   Oak Hill Country Estates   In the Santa Maria area, the executive and luxury home market consists mostly of homes in the Orcutt area and includes developments such as Elkhorn Estates, Deerfield Estates, Lorraine Estates, Oakhill Country Estates, Lake Marie, and Foxenwood Estates.  But, there are also luxury and estate homes in Santa Maria proper in the Country Club area, Hancock Park (near Marion Hospital), and in the Carriage District in downtown Santa Maria.  Santa Maria Orcutt Luxury Homes $700,000 and up Based on the information from the Central Coast Regional MLS. The Association, the Multiple Listing Service, nor 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. http://www.santamariarealestateblog.com/2010/10/15/santamariaorcuttluxuryforeclosureshomesrealestateupdate/http://www.classifiedflyerads.com/blog/Santa-Maria-Orcutt-Luxury-Foreclosures-Homes-Real-Estate-Update/9476/post_details/5998/2010-10-17 15:01:53There were 18 sales reported on the local MLS in Avila Beach in 2008. The lowest resale was a $300,000 manufactured home in Indian Hills, an age restricted park in San Luis Bay Estates. The monthly association dues on that 38 year old unit are about $285. The most expensive home sold during that time period was a 2 bedroom, 3 bath, 2800 square foot home in San Luis Bay Estates which sold for $2.3 million. The average price was $763,500, with an average days on market of about 4 months, and selling for abut 97.4% of list price, for about $407 per square foot. There were no short sales or foreclosures reported, so unlike the cities in southern San Luis Obispo County, the 2008 Avila Beach market remained untouched by foreclosure activity. Looking for property in Avila Beach, CA? Search Avila Beach homes, condos and townhomes on my websites: www.CentralCoastRealEstateSearch.com, www.iLoveFiveCities.com (map based search). If you have questions about a specific property, or would like to set up an appointment to consult about a possible sale of your property, you can send an inquiry to me at www.SellMyCentralCoastHome.com, or give me a buzz at (805) 8789879. Tni LeBlanc, JD, M.A., ePRO Broker/Owner, Mint Properties (805) 8789879, tni@MintProp.com www.iLoveFiveCities.com www.SellMyCentralCoastHome.com www.CentralCoastRealEstateSearch.com 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 markethttp://www.classifiedflyerads.com/blog/Avila-Beach-MLS-Home-Search-amp-2008-Market-Update/9476/post_details/2208/2009-03-22 09:26:58The Santa Maria and Lompoc real estate markets are currently dominated by foreclosure listings. Of the 663 active listings for homes/condos in the Santa Maria Orcutt area, approximately 25% (165) are bank owned properties (REOs), and about 50% (339) were short sales. Similarly in the Lompoc Vandenberg Village active market for homes and condos, there are 198 total listings, and 20% (39) were REOs and 40% (81) were short sales. This means that 75% of the active market in Santa Maria and 60% of the active market in Lompoc and its surrounding areas could be classified as either a foreclosure or a preforeclosure. Certain trends or practices are becoming fairly routine in this market (and in many cases contributing to buyer fatigue): 1) Properties listed as “active” that are not actually available. The local boards have taken the position that unless a written contract signed by both the parties is in the broker’s hands, the property should still be listed as active. Because of the bureaucracy of dealing with a bank, it can take weeks to receive signed documents back. During that time the property is still being marketed as active, but in fact they have a verbal acceptance on the property. I disagree with the decision to leave these properties active; but that does not change the practice. This is very frustrating for buyers as they research active properties that are not truly available. 2) Underpriced listings. Yes, properties are actually being listed too low by some banks to attract an intense amount of interest. Two recent examples come to mind, in both instances the bank priced a property almost $100,000 below its current market value and as a result received over 25 offers. This is becoming fairly common tactic, although to a lesser degree than the example given, and many times results in REOs being bid up slightly past the reasonable market value. It is a smart tactic for banks, but it creates a frenzied atmosphere for buyers. 3) The “Highest & Best” counter offer. Instead of countering to buyers individually, (which many times would be impractical with so many offers), banks will simply issue a request for a buyer’s “highest & best” offer. This puts the buyer in the position of bidding in the dark against their own first bid. For all they know, they are the highest bidder, and are simply increasing their bid even more. This has also contributed to a stressful environment for buyers. Sometimes, the “winners” of these highest & best contests walk away from their winning bid simply because they don’t feel like a winner after they’ve won! 4) Sitting on an offer until multiple offers are received. When the techniques above don’t work, sometimes banks will try to create a competitive situation by sitting on an offer until they receive multiple offers, and then issue a “highest & best” call. I’ve witnessed situations where there was one buyer and that buyer could not receive a response to their offer for 2 weeks until another offer came in, and the bank then requested both buyers to sign multiple counter offer paperwork. The buyer was understandably furious. Some banks are upfront about the practice and disclose in their listing information that they will not look at any offers the first week their listing is active. Overall, these effective tactics work for bank sellers but burn out buyers very quickly. Many buyers simply drop out of the foreclosure market. It is a difficult market to buy, but not an impossible one. I have tips and strategies to help you navigate the current market for foreclosures in the Santa Maria and Lompoc areas. Please feel free to give me a call at 8058789879; I would be happy to answer any questions you may have about the local real estate market. Tni LeBlanc, JD, M.A. , ePRO Broker/Owner Mint Properties (805) 8789879 tni@MintProp.com www.MintProp.com www.YourMonthlyMint.com www.SantaMariaRealEstateBlog.com www.VAFBRealEstateSearch.com www.CentralCoastRealEstateSearch.com Based on the information from the Central Coast Regional MLS & Lompoc Valley 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 markethttp://www.classifiedflyerads.com/blog/Santa-Maria--Orcutt-CA-REOs-Bank-Owned-Foreclosure-Market/9476/post_details/1915/2009-01-09 08:43:20