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Santa Maria, CA Real Estate News

By Tni LeBlanc, Realtor®, J.D., Tenacious Tni (805) 878-9879
(Mint Properties, Lic. #01871795)
How Many Homes Were Sold in Santa Maria in 2010?* It's the beginning of a new year, so many people are waiting anxiously to hear how many homes and condos were sold in Santa Maria last year, what the average sale price was, and how it compared to 2009.  Here you go: 2010                                                    2009 553 Santa Maria Homes 847 Santa Maria Homes Average Sales Price $220,771 Average Sales Price $217,706 71 Days on Market 72 Days on Market $140.26 per square foot $138.05 per square foot 234 Santa Maria REOs                              496 Santa Maria REOs 152 Santa Maria Short Sales 200 Santa Maria Short Sales       74 Santa Maria Condos, PUDS 107 Santa Maria Condos, PUDs Average Sales Price $150,158 Average Sales Price $134,254 58 Days on Market 69 Days on Market...
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By Tni LeBlanc, Realtor®, J.D., Tenacious Tni (805) 878-9879
(Mint Properties, Lic. #01871795)
5 Reasons to Spend Less on Your Home Purchase Yes, I am a real estate agent and I'm saying this.  Sometimes, you should spend less on a home.  I know it is difficult to turn down when someone wants to give you more money - but of course, they aren't really "giving" it to you, right?  It comes with strings in the form of those monthly payments that crop up with mundane regularity.  Often, I find that high wage earners in particular are put in the difficult position of being offered a higher mortgage than may be reasonable.  But, this advice applies equally to anyone looking to purchase a home.  Less can be more.  Contrary to what some folks will lead you to believe, there are other important things to consider --rather than just whether the bank WILL lend you the money -- when you are bu...
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By Tni LeBlanc, Realtor®, J.D., Tenacious Tni (805) 878-9879
(Mint Properties, Lic. #01871795)
5 Reasons Why You Should Write the Offer Today Do you really need to write the offer today?  As an experienced real estate agent, I must confirm that I have seen people lose the house of their dreams because they hesitated just one day.  Yes, just one measly day.  I hate that this market demands that buyers make decisions so quickly, but it is my job to let you know what the market is actually like.  The last thing I ever want to do is to rush any client.  But I've also seen the disappointment that can result when someone misses out on a truly exceptional home.  And, in almost any kind of market a well priced desirable home will move FAST.  So, you should be aware that even if you are not willing to act swiftly, your competition for the home may be.  It's pretty devastating to lose a gr...
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By Tni LeBlanc, Realtor®, J.D., Tenacious Tni (805) 878-9879
(Mint Properties, Lic. #01871795)
How Many Names Have You Been Called in this Business? I've been called a million of them. Tri, Thi, Toni, Tani, Tina, Traci (huh?), and just today in a comment on my featured post, No Offense But I'm Sick of Your Offer, I was referred to as, Tre.  Thanks for the chuckle.  Since I've gone 37 years with this name, I thought I had seen or heard them all, but those of you who have an unusual name know it is the gift that just keeps on giving.  I generally have a very nonchalant attitude about mispronunciations and misspellings because it happens so frequently.  Although I will, at times, refuse to give my name to a Starbuck's Barista if I am pressed for time (Please just call me "Grande Frappuchino®.")  I suppose my name is a bit deceiving.  It is short - three letters, but that unheard of ...
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By Tni LeBlanc, Realtor®, J.D., Tenacious Tni (805) 878-9879
(Mint Properties, Lic. #01871795)
I Remember When Black Friday Was the Day After Thanksgiving Do you remember that too?  I went out on Black Friday and judging by the number of people on the streets, Thanksgiving was a distant memory.  Remember when the holiday would lazily linger into the weekend?  I remember when the day after Thanksgiving was a day spent with friends and family.  You played board games, looked at old photos, listened to music, and enjoyed some fantastic leftovers.  Maybe you went to visit a friend you didn't often get to see, sat with that lady down the street who has a hard time getting out, or finished that "honey do" project.  Anyway, the day after Thanksgiving used to be awesome. At some point (I think it was the mid-nineties) people forgot what to do and a few people decided to go shopping.  Wel...
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By Tni LeBlanc, Realtor®, J.D., Tenacious Tni (805) 878-9879
(Mint Properties, Lic. #01871795)
Santa Maria Homes - River Oaks Community Update Santa Maria Homes up to $250,000 River Oaks is a community of newer homes for sale in northeast Santa Maria.  The neighborhood offers a secluded feeling and borders the Santa Maria Riverbed ad walking trails.  At the center of the neighborhood is Ida Redmond Taylor Elementary, and directly behind is a community park which includes a lake, playground, and picnic area.  These homes were constructed between about 1999 - 2003.  Because many of the homes were sold new during the beginning of the housing boom, many if not most of the current and recent sales in the development are foreclosures or distress sales.  In the past 6 months, there have been 6 sales in the River Oaks Development, 3 were foreclosures, and 1 was a short sale, and 2 were r...
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By Tni LeBlanc, Realtor®, J.D., Tenacious Tni (805) 878-9879
(Mint Properties, Lic. #01871795)
What Happens if the Short Sale Does Not Appraise? It depends.  This is definitely a difficult situation for both the buyer and the seller, usually because appraisals are not ordered and completed until after the short sale approval has been received.  Typically, the parties wait for weeks, if not months for the short sale approval, and once received the buyer begins their inspections and their lender orders the appraisal.  If the home does not appraise, the buyer has the option of coming in with additional funds (just as in a traditional sale), or the seller can go back to the short sale lender and present the appraisal as evidence that the short sale lender should accept less for the property.   Unfortunately, the process of getting a new price approved can take as long as the original...
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By Tni LeBlanc, Realtor®, J.D., Tenacious Tni (805) 878-9879
(Mint Properties, Lic. #01871795)
How to Buy Foreclosures in Santa Maria:  What Type of Offers do the Banks Want? Cash Offers.  Banks love cash offers.  Why?  Because they can close quickly and without any requests for repairs from a buyer.   What is the down side to a cash offer from a bank's point of view?  Cash offers tend to be lower than financed offers.  However if the banks knows the property is in very poor condition, they will accept a lower cash offer over a higher financed offer in the hopes of not getting mired down in repairs.  Offers with limited or no contingencies.  Banks want to limit the possibility that the buyer will back out.  Submitting a limited or no contingency offer has its risks for buyers and should not be done without consideration for the fact that you may lose your deposit if anything goes...
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By Tni LeBlanc, Realtor®, J.D., Tenacious Tni (805) 878-9879
(Mint Properties, Lic. #01871795)
How many short sale homes are there on the Santa Maria real estate market? Currently, there are 233 active, contingent and pending short sales on the Santa Maria real estate market.In total there are 513 active, contingent and pending homes.  So, about 45% of the current market for homes in Santa Maria is comprised of short sales.  In the past 30 days, 85 homes have sold in Santa Maria, and 21 were short sales.  In the past 6 months, 476 homes were sold in Santa Maria and 122 of them were short sales.  So, although the percentage of short sale homes offered for sale is much higher, short sales comprise about 25% of the closed home sales in Santa Maria. Tni LeBlanc, Mint Propertieshttp://MintProperties.net(805) 878-9879 *Based on the information from the Central Coast Regional MLS. The A...
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By Tni LeBlanc, Realtor®, J.D., Tenacious Tni (805) 878-9879
(Mint Properties, Lic. #01871795)
Santa Maria Homes - Traditions at Bradley Square Update    The Traditions at Bradley Square Santa Maria Homes up to $250,000 The Traditions at Bradley Square is community of newer homes for sale in southeast Santa Maria; it is near much of the new shopping in south Santa Maria (Best Buy, Home Depot, TJ Maxx) and it is also adjacent to the award winning Rotary Centennial Park.  Because most of the homes were sold new during the height of the housing boom, many if not most of the current and recent sales in the development are foreclosures or distress sales.  In the past 6 months, there have been 8 sales in the Traditions Development, 5 were foreclosures, and 3 were successfully closed short sales. The average sale price was $364,250, compared to an average list price of $370,300; average...
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By Tni LeBlanc, Realtor®, J.D., Tenacious Tni (805) 878-9879
(Mint Properties, Lic. #01871795)
Santa Maria Homes for sale- Classics at Bradley Square Update Video Clip - Traditions & Classics at Bradley Square in Santa Maria Santa Maria Homes For Sale up to $250,000   Classics Home in Bradley Square in Santa Maria CA   The Classics at Bradley Square is community of newer homes for sale in southeast Santa Maria; it is near much of the new shopping in south Santa Maria (Home Depot, TJ Maxx, Best Buy) and it is also adjacent to the award winning Rotary Centennial Park.  Local builder, Inland Pacific began building the Classics in about 2003.  Because most of the homes were sold new during the height of the housing boom, many if not most of the current and recent sales in the development are foreclosures or distress sales.  In the past 6 months, there have been 10 sales in the Classi...
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By Tni LeBlanc, Realtor®, J.D., Tenacious Tni (805) 878-9879
(Mint Properties, Lic. #01871795)
Organic Food in Santa Maria: Lassens Health Food   Lassen's Natural Foods in Santa Maria   Looking for organic foods in Santa Maria?  I recommend you stop by Lassen's on South Broadway.  They have a great selection of organic foods.  I don't think you need to be a food extremist to want to eat organic.  It simplytastes better in my opinion.  It does cost a little more, but you can use that as a great excuse to be mindful about how much food we waste.  Buy what you know you will eat and enjoy it; I guess that is the anti-Costco philosophy.  Lassens also has almost every kind of health supplement you could imagine and what they don't have they will order for you.  If you have food or cosmetic sensitivties, Lassen's may indeed stock the soaps, lotions, or gluten free products that you need...
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By Tni LeBlanc, Realtor®, J.D., Tenacious Tni (805) 878-9879
(Mint Properties, Lic. #01871795)
Santa Maria Homes - La Ventana Snapshot Update Santa Maria Homes up to $250,000 La Ventana is a community of single family homes and luxury townhomes in northeast Santa Maria; its location is ideal for those who need to be near Marion Medical Center and the surrounding medical office complexes.  Local builder, Inland Pacific, began selling homes in the La Ventana development around 2005 and because these Santa Maria homes were sold new during the height of the housing boom, many if not most of the recent re-sales in the development are foreclosures or distress sales.  In the past 6 months, there have been 4 sales reported in MLS in the La Ventana Development, 3 were townhomes sold by the developer.  The builder held back several townhomes when the market went bust, and is now slowly rel...
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By Tni LeBlanc, Realtor®, J.D., Tenacious Tni (805) 878-9879
(Mint Properties, Lic. #01871795)
  Santa Maria Home Sales Alert:  When I Sell My Home When Do I Have to Vacate? Generally, buyers expect to have possession on the day the transaction closes. But, the issue of possession is negotiable. The typical contract in California calls for the seller to surrender possession to the buyer by 5pm on the date of close of escrow. However, that is not always practical. It is not unusual for a seller to need additional time (3 - 5 days) to vacate the property. Some buyers are uncomfortable with this or need to move in right away. Also, most people try to close at the end of the month, and if they are moving from a rental, they may need to move by the first of the month. The most important thing is to negotiate any additional time you want up front with the buyer so there are no surpris...
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By Tni LeBlanc, Realtor®, J.D., Tenacious Tni (805) 878-9879
(Mint Properties, Lic. #01871795)
Santa Maria Homes - La Ventana Snapshot Update Santa Maria Homes up to $250,000 La Ventana is a community of single family homes and luxury townhomes in northeast Santa Maria; its location is ideal for those who need to be near Marion Medical Center and the surrounding medical office complexes.  Local builder, Inland Pacific, began selling homes in the La Ventana development around 2005 and because these Santa Maria homes were sold new during the height of the housing boom, many if not most of the recent re-sales in the development are foreclosures or distress sales.  In the past 6 months, there have been 4 sales reported in MLS in the La Ventana Development, 3 were townhomes sold by the developer.  The builder held back several townhomes when the market went bust, and is now slowly rel...
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By Tni LeBlanc, Realtor®, J.D., Tenacious Tni (805) 878-9879
(Mint Properties, Lic. #01871795)
Four Things Santa Maria Home Sellers Should Know About the HAFA Short Sale Program HAFA stands for Home Affordable to Foreclosure Alternatives and it is a government program designed to help home owners who are in danger of losing their home to foreclosure. •1)      You must apply for a HAMP (Home Affordable Modification Program) loan modification to be eligible for HAFA.  If offered a modification, you can turn the loan modification down, or even if you are turned down under HAMP, you can request a short sale under HAFA if a short sale is the best answer for your situation. •2)      First mortgage holders who participate in HAFA must forgive the deficiency between what you owe and the amount the home is sold for in a short sale.  This is an important feature of the HAFA program.   In ...
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By Tni LeBlanc, Realtor®, J.D., Tenacious Tni (805) 878-9879
(Mint Properties, Lic. #01871795)
Santa Maria Gated Homes - Arborwalk Snapshot Update Santa Maria New & Newer Homes up to $250,000 Townhomes in the Gated Arborwalk Development Arborwalk is a gated community of townhomes at the intersection of McCoy and Miller; it is near much of the new shopping and commercial development in south Santa Maria.  Watt Developers began building Arborwalk in about 2004. Because the homes were sold new during the height of the housing boom, many if not most of the current and recent sales in the development are foreclosures or distress sales.  In the past 6 months, there have been 6 sales in the Pacific Crest Development, one was an investor flip, 2 were foreclosures, and 3 were successfully closed short sales. The average sale price was $255,500, compared to an average list price of $261,23...
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By Tni LeBlanc, Realtor®, J.D., Tenacious Tni (805) 878-9879
(Mint Properties, Lic. #01871795)
Santa Maria Real Estate:  Can investors purchase short sales? Yes, investors can purchase short sales. There are pitfalls though, such as if the property has a notice of default filed on it.  In that case, specific disclaimers MUST be provided to the seller.  California law seeks to protect sellers from unscrupulous equity strippers, and as ironic as it may sound, those disclaimers still apply when the property is a short sale.  So, even though there is no equity, investors much make sure sellers are aware of their rights.  This is another reason why it is important that investors work with an experienced REALTOR® when purchasing a short sale home.  The penalty for violating this provision of California law is surprisingly stiff and includes jail time; and any investor seeking to buy Sa...
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By Tni LeBlanc, Realtor®, J.D., Tenacious Tni (805) 878-9879
(Mint Properties, Lic. #01871795)
Santa Maria Homes - Pacific Crest Estates Snapshot Update   Homes in Pacific Crest in Santa Maria   Santa Maria New & Newer Homes up to $250,000 Inland Pacific, a local builder, built Pacific Crest Estates beginning in about 2005.  Because the homes were sold new during the height of the housing boom, many if not most of the current and recent sales in the development are foreclosures or distress sales.  That trend continues now.  In the past 6 months, there have been 14 sales in the Pacific Crest Development, 2 were new homes sold by the developer, one was an investor flip, 5 were foreclosures, and 6 were successfully closed short sales. The average sale price was $295,476, compared to an average list price of $297,715; average price per square foot paid by Pacific Crest buyers was $14...
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By Tni LeBlanc, Realtor®, J.D., Tenacious Tni (805) 878-9879
(Mint Properties, Lic. #01871795)
Are foreclosures frozen in Santa Maria, CA? Thus far, Bank of America is the only bank that has frozen its foreclosures in California.  And in fact, Wells Fargo has not frozen foreclosures anywhere.  I realize this is a controversial subject, but I do agree that freezing foreclosures or trying to turn back the clock only benefits a limited group of people.  In California, most people who are losing their home to foreclosure are severely underwater and I find that once the foreclosure happens, a sense of relief soon follows that they can put the whole thing behind them. Right now, none of the foreclosures (or REOs) my buyers are purchasing in Santa Maria or Orcutt are threatened with a freeze or reversal.  Of the 298 homes and condos actively listed on the Santa Maria and Orcutt market,...
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