Jan. 31, 2009 - 2008 Los Alamos CA Year End Real Estate Update & MLS Home Listing Search

Jan. 30, 2009 - Grover Beach CA 2008 Market Update & Free MLS Listing Search

A total of 120 homes and condos sold in Grover Beach in 2008. 87 of those sold listings were single family homes which averaged 101 days on market, 1512 square feet, and about $429,000 as a selling price. Average asking price for listings that sold was around $447,000 for homes, and $405,000 for condos. 33 condos and PUDs sold last year in the Grover Beach market, and the average selling price was approximately $385,000, with a low of $150,000 for a 2 bedroom condo on Manhattan Ave., and a high of $620,000 for a brand new PUD/townhome with ocean views in North Grover. Homes typically sold for around $293 per square foot and condos for about $257 per square foot.

The south San Luis Obispo county cities of Grover Beach, Oceano, & Nipomo had a good deal of foreclosure activity in 2008. Of the 120 sold listings in Grover Beach, 33 were REOs, and 12 were closed short sales. So, about 37% of the sold market was foreclosure related. Currently, there are 61 homes and condos listed as active in Grover Beach, 3 are bank owned (REOs) and 7 are short sales. So, about 1/6 of the active market is foreclosure related, and there appears to be a shortage of REO inventory compared to the demand for bank owned listings in Grover.

You can search for Grover Beach property for free on my websites. For a map based search, try www.iLoveGroverBeach.com, or for a more traditional search try www.CentralCoastRealEstateSearch.com. If you are thinking of selling your Grover Beach home, send an inquiry to me at www.SellMyGroverBeachHome.com, and I will provide you with a market analysis of your home's value. Or, simply give me a call at (805) 878-9879.

Tni LeBlanc, JD, M.A., e-PRO
Mint Properties, Broker/Owner
(805) 878-9879, tni@MintProp.com
www.iLoveGroverBeach.com
www.SellMyGroverBeachHome.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 market.

Jan. 29, 2009 - Nipomo 2008 Market Update & MLS Listing Search

Jan. 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.

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.

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.

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 re-sales 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 re-sale 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) 878-9879. You can also search for listings on one of my websites which offer three different ways to search for Santa Maria properties: iLoveSantaMaria.com, BuySantaMariaForeclosures.com, SantaMariaRealEstateSearch.com.

Tni LeBlanc, JD, M.A., e-PRO
Broker/Owner, Mint Properties
(805) 878-9879, 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.

Jan. 13, 2009 - Pismo Beach & Shell Beach CA 2008 Market Update & MLS Search

A total of 82 single family homes and 15 condos sold in Pismo Beach and Shell Beach in 2008. The average list price of homes sold was $990,900 and average selling price was about $895,000. The average list price of sold condos in the area was $622,620 and average selling price was was $586,000. Listings that sold were on the market an average of 112 days. Average price per square foot for Pismo Beach and Shell Beach condos was $399, and average price per square foot of sold homes was $458. None of the condos sold were short sales or REOs, and only 3 of the homes sold were 3 REOs, and only one was a closed short sale. So, out of a total of 97 sales, only 4 were directly related to the foreclosure epidemic; this represents approximately 4% of the overall sold market.

If you would like a list of available Pismo Beach or Shell Beach homes and condos, please send me an email at tni@MintProp.com. If you would like a list of bank owned (REO) beach property in the Pismo Beach area please indicate that in your email, or give me a buzz at (805) 878-9879 and I will set up email alerts for you so you know exactly when these properties hit the market. Or visit one of my websites to search for Pismo Beach property: CentralCoastRealEstateSearch.com, or iLoveFiveCities.com.

Tni LeBlanc, JD, M.A., e-PRO
Broker/Owner, Mint Properties
(805) 878-9879, tni@MintProp.com
www.iLoveFiveCities.com
www.SellMyPismoBeachHome.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 market.

Jan. 12, 2009 - Should I Make an Offer on a Central Coast Short Sale Property?

Jan. 10, 2009 - Santa Maria - Orcutt CA 2008 Market Update & MLS Search

Jan. 7, 2009 - Santa Maria CA Gated Townhome Communities, Arborwalk & Lavigna

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 re-sale 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.

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.

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 re-sales 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, re-sales 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.

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: www.SantaMariaRealEstateSearch.com, www.iLoveOrcutt.com, www.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) 878-9879 and I will set it up for you.

Tni LeBlanc, JD, M.A., e-PRO
Broker/Owner, Mint Properties
www.MintProp.com
www.iLoveSantaMaria.com
www.SellMySantaMariaHome.com
 

Jan. 6, 2009 - Orcutt CA Executive & Luxury Foreclosure Market Update & Home Listing Search

Most of executive and luxury homes in the Santa Maria area are in the unincorporated area of Orcutt which is located to the south of the city of Santa Maria. From the secluded affluence of Lake Marie Estates, the tony gated community of Elkhorn Estates, to a variety of high end horse properties, Orcutt has a lot to offer the executive and luxury home buyer. In Orcutt you can still obtain a rustic casual elegance or a satisfying surburban sophistication. With great test scores for their schools, a Farmer's Market every Tuesday, and the revitalization of downtown "Old Orcutt" as a walkable core with shops and restaurants, many would choose no other spot to live on the Central Coast.

There are currently 186 active or contingent homes and condos in and around the Orcutt area. Approximately 33 of those are REOs (bank owned properties), and 78 are short sales. In the month of December 2008, approximately 41 homes sold in the Orcutt area, with a low of $206,330 and a high of $820,000. The average price of a resale home in Orcutt was around $365,000, compared to an average of about $220,000 in Santa Maria during that same period. Of the 41 homes that sold last month in the Orcutt area, 19 were foreclosures (REOs) and 4 were short sales.

In the popular Foxenwood Estates area, there were approximately 6 re-sales in December, with an average selling price of $585,000. They ranged from a $474,000, 2600 sq. ft. home built in 1985 (which needed updating) to a fully updated and upgraded 3300 sq. ft., 4 bedroom, 3 bath executive home on a lot just shy of an acre which sold for $820,000. As the Foxenwood Estates homes were built beginning in the late 70's, many need updating to the kitchen and baths. The homes that have not been updated tend to sell for less, but they provide an opportunity for a new owner to purchase a home in a desirable area at a lower tax basis and then customize it to their taste. For those who want the area, but desire a little less space, there are also re-sale townhomes in Foxenwood Estates, which offer floor plans around 2000 sq. ft. and are priced starting just shy of $300,000. Newly built townhomes in the area are priced between $500,000 - $600,000.

The entire Santa Maria area has been severely impacted by the foreclosure crisis. Here and there, opportunities to obtain luxury and executive homes at foreclosure prices arise. Currently, there is a 2900 sq. ft. foreclosure in the Foxenwood Estates area priced at $459,900; it was built in 1977 and is need of updating and new flooring. There are two short sales (pre-foreclosures) in executive level homes as well. One in Elkhorn Estates priced at $989,000, and a home in Westrails Estates (which offers equestrian facilities) priced at $895,000.

If you would like a list of available executive and luxury homes in the Orcutt area, please send an email request to me at tni@MintProp.com, or search the local MLS on my websites www.iLoveOrcutt.com, www.SantaMariaRealEstateSearch, or www.BuySantaMariaForeclosures.com. Each site offers a different method to searching for property. Also, if you are interested in selling your Orcutt home, please visit my site www.SellMyOrcuttHome.com and I will provide you with an evaluation of your home's current market value.

Tni LeBlanc, JD, M.A., e-PRO
Mint Properties
(805) 878-9879
tni@MintProp.com
www.MintProp.com
www.iLoveOrcutt.com
www.SellMyOrcuttHome.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.

Jan. 5, 2009 - The Traditions & Classics at Bradley Square Neighborhood Update (Santa Maria - Orcutt CA)

The Traditions & Classics homes in southeast Santa Maria were built from 2003 - 2006, and are surrounded by newer shopping in the Bradley Square area, as well as other newer home developments. Classics were meant to be the more affordable of the two developments with smaller floorplans and smaller lots, although that distinction blurred during the housing boom as prices zoomed upward. The Traditions offer 6 floorplans, 3 two story models, and 3 one story models, and the floorplans begin at around 2000 square feet and end around 3000 square feet.

These homes are within walking distance to shopping centers which include popular new restaurants such as Panera Bread, Starbucks, Natural Cafe, and Yanagi Sushi. Also close are Albertsons, Food Maxx, Wal-Mart and Home Depot. The Traditions and Classics developments are at the center of some of the best new shops in Santa Maria. Both Homeowners Associations have a relatively low association fee under $200 per year, and the community is also host to a new fire station, Robin Ventura Field, and Rotary Centennial Park. The Bradley Square area is truly a great place to live on the Central Coast of California.

From October - December 2008, a total of 12 homes sales were reported in the Traditions and Classics homes. Four were REOs (foreclosures) and 5 were short sales. So, foreclosure related activity is driving the market in those areas as well. Sold prices in the Classics at Bradley Square ranged from $290,000 to $375,000. A 3 bedroom, 3 bath, 2364 sq.ft. bank owned (REO) home on Niverth Place sold for $290,000 on December 27, 2008. That was the lowest sale price during that time period. The highest resale during that period was a 4 bedroom, 3 bath, 2351 sq. ft. short sale listing on Niverth Place which sold on December 3, 2008 for $375,000. Sold prices in the Traditions ranged from $375,000 to $504,000 during the same period. A 3 bedroom, 2 bath, 2068 sq.ft. home on Singleton sold for $375,000 on October 28, 2008, and a 3 bedroom, 3 bath, 2326 sq. ft. home on Long Terrace sold for $504,000 on October 20, 2008. Current asking prices in both developments range from $279,900 to $469,000, with the median asking price at approximately $350,000.

If you are thinking of buying or selling in either of these developments, please give me a buzz at (805) 878-9879, or send me an email at tni@mintprop.com and I will email you a complete list of current listings or recent sales. I also handle short sales if you must sell and owe more than your mortgage balance.

Tni LeBlanc, JD, M.A., e-PRO
Broker/Owner
Mint Properties
(805) 878-9879
tni@MintProp.com
www.MintProp.com
www.iLoveOrcutt.com
www.SellMyOrcuttHome.com
www.SantaMariaRealEstateBlog.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.

Jan. 4, 2009 - Should I Sell My Santa Maria CA Home in this Market?

Jan. 3, 2009 - Oceano Foreclosure Market Update & Free MLS Search

Oceano is one of California's true beach towns. It is not saturated with deliberate commercialism, yet still sports cutesy names like Beach, Ocean and Surf Ave on its streets. Off the beaten path of Highway 101, Oceano instead straddles the scenic route, Highway 1. Known for the Oceano Dunes, a sand dune area of the coastline preserved for off road vehicle recreation and exploration, Oceano attracts many from the inland areas who seek to beat the heat.

Oceano offers a variety of housing, from a beach cottage to stash your boogie board and dune buggy starting at around $190,000, to a custom beach home offering panoramic ocean views at $1.6 million. And like the surrounding southern San Luis Obispo county communities of Nipomo & Grover Beach, home prices in Oceano have plummeted due to the housing bust. Prices for condos now begin at around $180,000; the median asking price for residential dwellings is $369,000.

Currently, there are about 59 active listings; almost 20% of the active market could be categorized as foreclosure, with 6 bank owned (REO) listings, and 5 short sales (also referred to as pre-foreclosures). However, the sold statistics tell a more complete story. Of the 4 homes sold in Oceano since December 1st, 3 were REOs; the only sold that was not a foreclosure was a manufactured home. The median price of the sold listings was just under $300,000. It is quite evident that foreclosures are dominating the activity in the Oceano market and setting the price trends.

If you are in the market for a vacation home in Oceano or Grover Beach, you can search the local MLS for free on my website CentralCoastRealEstateSearch.com, and also conduct a map based search on my site iLoveGroverBeach.com. Or, if you send me an email at tni@MintProp.com, I'll simply send you a list of local beach home foreclosures.

Tni LeBlanc, JD, M.A., e-PRO
Owner/Broker
Mint Properties
(805) 878-9879
tni@mintprop.com
www.MintProp.com
www.iLoveGroverBeach.com
www.SellMyGroverBeachHome.com
www.CentralCoastRealEstateSearch.com

*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.

Jan. 2, 2009 - Central Coast of CA Short Sale Seller Tips

Short sales are a mainstay in the Central Coast market and more short sale listings are sure to come through 2009. Sellers who must sell in this market due to job relocation, divorce, or an ARM rate loan adjusting upward often try to short sell their property to avoid having a foreclosure on their record. For those unfamiliar, short sales are sales subject to “lender approval” where the seller offers their property for sale although they owe more than the loan balance. For example, if a potential seller bought a home for $600,000 and it is now worth $300,000, they could offer it for sale for $300,000 subject to “lender approval.”

Short sales are common these days. Santa Maria has 255 active short sale listings, Lompoc lists 72 short sales on the market, Nipomo has 14, and Arroyo Grande also has 14 active short sales. The difficult part is obtaining “lender approval” which adds delays to the process. Because approvals attach to a specific buyer, it is vital to find a committed buyer for your short sale. Often lenders require the process to start over if the buyer abandons their offer. This can draw out the process even further. But it is important to note that short sale transactions are closing all over the Central Coast. In the month of December, 18 short sales closed in Santa Maria (2 of these were my listings), 2 in Lompoc, 2 in Nipomo, and 1 in Arroyo Grande.

If you are a seller and considering short selling your house, I would first ask whether you wanted to keep your house, but felt unable to because of your loan. If so, you should first pursue a loan modification with your lender. The mortgage lender who sold you the loan may be able to help you with a loan modification (if they are still in business), or you can employ an attorney to help with this process as well. If you have already attempted a loan modification, or you cannot keep your home even with a modification due to job transfer or loss of income, a short sale may be a viable option for you to avoid foreclosure. It is important to note that a short sale will not allow you to escape fully unscathed. Your credit will be affected; however, the goal in short selling a home is to avoid a foreclosure on your credit record.

When considering whether a short sale will work in your situation, several factors are important. Most important is whether you have purchase money protection. Purchase money protects the property owner  from a lender pursuing them for the balance owed once a home has been taken back in foreclosure by the lender. This is an important bargaining chip when negotiating a short sale with your lender. Also important is whether there are one or two loans on the property, whether those loans are owned or serviced by the same entity, the difference between the market value and the amount owed on the loan(s), whether the 1st mortgage holder's balance can be completely satisfied, and whether the loan is insured all may affect the lender accepting a short sale that forgives a deficiency.

Before listing your property as a short sale, sellers should contact each of their lenders, determine their total loan balance and if the loans are insured, and begin gathering the paperwork they will be required to submit with their short sale package. Lenders will often have their own financial statement form, and will request 2 years worth of tax returns, 2 months of paystubs, 2 months of bank account statements, and a hardship letter explaining the reason for the short sale request. If you are interested in listing your home as a short sale, please fill out an inquiry form at www.SellMyCentralCoastHome.com and I will contact you to set up an appointment to go over your individual situation. Or simply give me a call at (805) 878-9879.

Tni LeBlanc, JD, M.A. , e-PRO
Broker/Owner
Mint Properties
(805) 878-9879
tni@MintProp.com
www.SellMyCentralCoastHome.com
www.CentralCoastRealEstateSearch.com
www.BuyCentralCoastForeclosures.com
www.SantaMariaRealEstateBlog.com

*Based on the information from the Central Coast Regional MLS & Lompoc Valley 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.