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Orcutt condos

2010 Snapshot – Orcutt Foreclosure Market Update

There are 295 active and pending homes and condos in the Orcutt zip code of 93455. Of those 295 properties, 41 homes are foreclosures (13.8%) and 113 are short sales (38.3%). So currently, over 50% of the Orcutt market is either a bank owned property or a short sale. Average asking price overall was $337,392, asking prices for foreclosures was significantly lower at $256,678, and for short sales it was $269,678.
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Can I Buy a Santa Maria Condo with FHA Financing?

Can you buy a condo in today's market with FHA financing? The answer is yes you can, but it is very difficult lately. Fannie Mae enacted guidelines which have impacted the condo market tremendously. These guidelines were meant to encourage owner occupancy and stability in condo associations but in many instances they have ended up penalizing associations not already in conformance with those guidleines and making all but impossible for them to ever conform.
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Orcutt View Park Townhomes, Old Orcutt CA Condo Update

Nestled between May Grisham Elementary and Highway 135 is a strip of cute little townhomes known as the Orcutt View Park Condos. These homes offer 3 bedrooms, two baths, a one car garage, and a birds eye view of community sporting events held in the sporting fields next to the school. They are about are about 1400 sq. ft. in size and the association dues are about $180 per month. Most of the townhomes offer a small patio and backyard. For those who wish to commute to Vandenberg AFB, the location is ideal; the commute time is about 15 minutes to the main gate.
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Orcutt CA Condo Foreclosure Market Update (REOs & Short Sales)

There are approximately 34 active or contingent condo listings in the Orcutt CA area, and the average list price centers around $220,000. This does not include HUD properties, which are not listed on the MLS, or for sale by owner units. The most expensive Orcutt condo currently listed is a 2 bedroom 2 bath luxury townhome unit in Foxenwood Garden Villas which is selling for about $699,900. Contrast those prices with the nearby Santa Maria condo market which has about 52 active or contingent listings with an average price around $140,000, with the most expensive being a luxury townhouse in Somerset Gardens listed at $385,000.
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