Certified Military Housing Specialist Military Relocation Professional

Lompoc / Vandenberg Village

Lompoc Luxury Homes: Foreclosure Real Estate Update

Looking at the luxury real estate market in Lompoc California, there are currently 29 homes priced above $400,000 with an average list price of about $592,000 and 145 days on market, and a median asking price of $499,000. Looking at the luxury foreclosure market, there was only one active luxury foreclosure listing and there were 2 available short sales in Lompoc.
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Lompoc Home For Sale $169,900

Come see this Lompoc Delight! This exceptional home features a large family room addition off the kitchen for a great room effect and feel. Indoor laundry,large fireplace and slider access to the backyard. Formal living room off the entry and an informal dining area directly off the spacious kitchen. This home hasthree bedrooms and two updated bathrooms. Needs a little polish to bring it back to its prime - but the potential is definitely there. Modern touches andupdates throughout.
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2010 Snapshot: Lompoc Foreclosures

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.
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2009 Lompoc CA and Vandenberg Village CA Real Estate & Foreclosure Market Update

There were 360 single family homes sold in the Lompoc and Vandenberg Village in 2009. This excludes manufactured home sales. This figure is down approximately 10% from the 401 homes/condos that were reported sold in 2008. Of the 360 homes/condos sold in 2009, 305 were single gamily detached homes, and 55 were attached/condo dwellings. 217 of the sales were foreclosures (REOs) and 50 were short sales.
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Buying a Short Sale with a VA Loan in Lompoc, CA

Are you a military veteran looking to buy a short sale home with a VA loan in the Lompoc, CA area? Short sales can be excellent bargains, and they also offer some relief to the VA buyer who may be experiencing difficulty purchasing a bank owned or REO listing in the competitive Lompoc foreclosure market. The first thing to keep in mind when buying a short sale property is that there are a lot of contingencies involved, and using VA financing can add to those contingencies. So, some short sale agents will advise their client to take a conventional, cash, or FHA offer before a VA offer because they view those loans as easier.
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Santa Maria and Lompoc First Time Buyers, FHA Loan Info

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.
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Foothill Estates 2009 Update – Lompoc CA Homes and Real Estate

Tucked away in the hills of southwest Lompoc is the charming HOA community, Foothill Estates. The community is broken up into enclaves of duplex style units, with two units attached at one common wall. They have two car garages, and larger back yards than you get in other HOA communities. Amenities include a community pool, spa, and clubhouse. There are 2 and 3 bedroom models which range from about 1100 to 1300 square feet in size. The monthly HOA fees are $145 per month. But what you get for the money can't be beat. The views from this development are breathtaking and unmatched, and if you have a large dog you can't beat having a decent size yard versus the patio that most comparably priced condo units offer.
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Santa Maria and Lompoc CA Short Sale Seller Tips

Everyone in the Santa Maria and Lompoc housing marlet is talking about short sales these days. They love them, they hate them, they love to hate them, they. . . well you get the picture. There are a lot of opinions on them. One thing is for sure, if you are a short sale seller you should work with an experienced agent and obtain legal and tax advice before entering into a short sale arrangement. Short sales have significant financial, legal, tax, and credit consequences.
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Looking to Buy HUD Homes in Santa Maria or Lompoc CA?

Are you interested in buying a HUD home in Santa Maria, Orcutt, or Lompoc? You can search for HUD homes by clicking here. Also, you need a registered HUD agent to write an offer on a HUD home. I am a registered selling agent with HUD and I can take you for a tour of any local HUD home, explain the bidding process, and write an offer. These homes are generally not listed on the MLS, so the potential for a buyer bargain is tremendous as they receive less exposure.
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