santa maria ca reos Archives | Vandenberg AFB Homes

How Many Foreclosures Are Closing Escrow in Santa Maria, California?*

May 17, 2011
Vandenberg AFB Homes
Foreclosure / Bank Owned (REO) Info, Santa Maria

In the Santa Maria - Orcutt California area, there are currently 667 active, contingent, or pending homes and condos for sale. Of those 667 homes, 167 are foreclosure listings. Of those 167 REO listings, 7 are “contingent REO.” A contingent REO is a foreclosure listing with a verbally accepted offer.

Arborwalk & Autumn Glen Townhomes – Santa Maria CA Homes Update

The Arborwalk and Autumn Glen townhome communities are newer homes built between 2003 - 2006 and offer an ideal location in south Santa Maria. Both communities are close to shopping, restaurants and other amenities. Arborwalk is a gated community at the intersection of Miller & McCoy, and Autumn Glen is located across from the Crossroads Shopping Center at the intersection of Crossroad Lane & Bradley Rd.

The Santa Maria CA Market is Tough on Buyers

Currently, there is intense competition among buyers in the Santa Maria market. If this is a buyer's market, it sure doesn't feel like it anymore. Indeed, with the banks calling almost all the shots in the under $300,000 market (short sales and foreclosures), it certainly feels like a sellers market.

Stimulus to Fund Santa Maria Levee Repair

The Santa Maria Sun reports that local officials have secured an additional $6.7 million to repair the Santa Maria levee. Without repair, Santa Maria homeowners are faced with having to buy flood insurance. In its current state, the levee would…

Santa Maria CA Foreclosure Buyer Alert – $8000 First Time Home Buyer Credit Approved

February 13, 2009
Vandenberg AFB Homes
Santa Maria

If you are sitting on the fence about buying, Congress just gave you another reason to jump into the market for foreclosures in Santa Maria, CA. The recently passed stimulus bill modestly increases the first time home buyer credit from $7500 to $8000. But more importantly, buyers now do not have to pay the credit back as long as they stay in the home a minimum of 3 years.

River Oaks Market Update & Santa Maria CA MLS Home Listing Search

February 11, 2009
Vandenberg AFB Homes
Santa Maria

Sold listings were on the market an average of 77 days, were about 1900 sq.ft., and sold for about $155 per square foot. 12 of the 17 sold homes were REOs, 3 were closed short sales, and only two were regular sales. 88% of the sold activity in this neghborhood was forelcosure related; so, like many other developments that were built during the housing boom River Oaks is now overloaded with foreclosures during the housing bust.

Mission Creek Village Condos vs. Oak Creek Villas (Santa Maria CA & Orcutt CA Condos)

The Mission Creek Condos and Oak Creek Villas were built by local builder, Inland Pacific, who is also currently finishing up Pacific Crest in Westgate Ranch. Oak Creek and Mission Creek offer the same basic floor plans and amenities; however,…

Buying Bank Owned Homes (REOs) in the Santa Maria CA & Orcutt CA Market – Should I Use FHA/VA or Conventional Financing?

February 1, 2009
Vandenberg AFB Homes
Foreclosure / Bank Owned (REO) Info, Santa Maria

When the bidding gets competitive, buyers are often left to wonder how asset managers make their decisions about which offer to choose. If you have 15 offers how do you select one over the other? The obvious selection would be based on the net to the lender, but there are other factors. In particular, time and time again, I see FHA buyers assed over in this market for buyers using conventional financing. That is not to say that FHA financing is not being used -- it is.