Wondering what the market for home and condo foreclosures is like in Grover Beach California? Here is your market snap shot answer:
Welcome to Grover Beach!
Grover Beach, California foreclosure activity: There are 88 active and pending homes and condos in the city of Grover Beach. Of those 88 properties, 9 homes are foreclosures (10.2%) and 27 are short sales (30.6%). Looking back six months, there have been 72 sales in Grover Beach with an average listing price of $346,140 and an average selling price of $338,940. S0 sellers are getting about 97.9% of their asking prices in Grover Beach indicating that there is some (but not a lot of) bargaining room for buyers in the Grover Beach market. Average days on market were a little over three months, at 108 days with $261 per square foot paid.
Of the 72 property sales in the past six months, 17 were bank owned properties (23.6%) and 15 were short sales (20.8%). So, almost 45% of the sold homes and condos in Grover Beach were either a foreclosure or a distress sale. Looking at sold foreclosures, the average selling price is about 10% lower than the average for Grover Beach overall at $305,853, $221 per square foot paid, and listings selling for 99.7% of their asking price. Notably, the days on market for Grover Beach foreclosures were much shorter at only 38 days. Short sales are selling for a significantly lower average as well at $297,427, which may indicate that the lower end of the Grover Beach market is bailing out. Average days on market for short sales were predictably higher at 138, the price paid per square foot was $255, and the selling prices were similarly glued to asking at 99.6%. So, distress sellers are getting near asking price for their properties in Grover Beach market.
Wondering how to get the most for your home in a foreclosure driven market? Already tried to sell your home and failed? Call Mint Properties today for a consultation to get your home sold today. (805) 878-9879. If you are searching for foreclosures in the central coast area, feel free to search on my websites: www.iLovetheCentralCoast.com and 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 market.
I get this question all the time forom buyers looking to jump into the market. For the most part, the answer to that is no. There is a program through the USDA that provides 100% financing for rural properties. I'm told by a local lender that this applies to some areas of Guadalupe, and also some areas of Nipomo, but I haven't been able to verify it. There is also the Veterans Affairs (VA) Loan Program which offers 100% financing to qualifying veterans. But unless you have some military service under your belt, you are not eligible. Other than that, right now I don't know of any 100% financing program available to buyers.
