About Santa Barbara County, CA

The following information is the Real Estate Activity for the calendar year 2009 as reported by the Santa Barbara Association of Realtors' Multiple Listing Service for Santa Barbara, Goleta, Summerland, Carpinteria and Montecito:

Houses/PUDs

Closed Escrows: 835

Median Sales Price $849,700

Sales Pending 67

Active Listings 574

Month's/Inventory 8.6

Condos

Closed Escrows: 319

Median Sales Price: $465,000

Sales Pending: 87

Active Listings: 724

Months/Inventory: 8.3

December saw quite a spike in home, puds & condos closed. In fact the last four months of 2009 the solds were higher than the 5 year average. However, sale Pendings which had continued up over the 2009 and 5 year average from April 09 on, dipped to below the 2009 and 5 year average in December 09. This could be that the lower end of the market had been pretty much bought up, and the 'first time buyer credit had not yet been renewed or expanded.

We continue to see multiple offers on Reos as many are using 'under pricing' as a marketing method. Reos have slowed down considerably in the under $1million market. We have begun to see a few Short Sales and Reos and distress sales in the luxury market, which has slowed down considerably. Currently this is where there are some amazing bargains! Buyers in the luxury market who have the $$ are definitely looking for the good property at bargain prices.

Buyers in all price ranges are cautious and make it their business to become well educated about the inventory and the properties that are well priced and good value. Even in the non-distress under $1mill market we are seeing multiple offers on properties which are really well priced and in beautiful condition. Fixers are NOT selling, even when aggressively priced. Fixers have to be ultra bargains to sell.

There are still many properties listed which are OVERPRICED and/or show poorly. They just won't attract buyers and the smart agents are becoming reluctant to list these properties. They take a great deal of time, energy and money to market....often for months and months with no hope of selling.

Credit is still very tight and in some cases unreasonable, especially for buyers who are self-employed. However the tax credit has been extended and expanded to include more buyers. To paraphrase one of my associates on the MLS Economic Forecast Committee, 'We look forward to a strong year in real estate activity...activity solidified values...and 2009 has certainly done that for the greater Santa Barbara Area real estate market!

If you are curious as to which homes maybe going into foreclosure there is a website with FREE information.

All you have to do is sign up and and fill out the needed information its easy check it out. This website is not just for Santa Maria homes or homes on the Central Coast but pretty much anywhere in the country.

http://www.lpsasap.com/

Remember I can help you get the financing you need for your home anywhere in the state of California

Please help me out in giving you the information that you may be interested. If there is a topic that you are curious about need more clarification let me know.

Thank you

If you want to search for any homes for sale in Santa Maria or the Central Coast you might want to buy just go to www.GenePerez.net.

If you have any questions about this article or buying a Santa Maria home for sale or any properties on the Central Coast or need to get a loan in Santa Maria, CA or on the Central Coast as well as other real estate related questions please contact me by sending me an email at: GenePerez@GMSLoans.net

my goal is to provide you with resources you need. I can also help in getting the financing for your home. If you have any suggestions or questions in how I can provide more or better information please let me know. I have been helping my clients for the last 15 years on the Central Coast,

Gene Perez, Ph. 805.448.7101, Fax, 805.352.1109 - DRE 01321588

There have been several posts regarding this mess and the back room dealings that the FDIC and our hero Paulson who pressured the govt and made the public believe that the banks need to be bailed out.

Well some people believe that the banks are here to help do a loan mod this is a simple and pretty straight to understand video on why they prefer to foreclose on you instead.

Enjoy !!!!!!!!!!!!!!!;-)

HERE IS THE LINK OR CLICK THE PIC

http://www.thinkbigworksmall.com/mypage/player/tbws/23087/1447612

IF YOU FEEL THAT MORE NEED TO UNDERSTAND THIS PLEASE REBLOG MORE PEOPLE SHOULD KNOW LET ALONE BE OUTRAGED.

Gene Perez

DRE 01321588

ph 805-448-7101

Buying or selling a home or property in Santa Maria CA, or a Santa Maria foreclosure, or a property on the Central Coast, my goal is to provide you with resources you need.

Finally! For those of you who read my blog recall my recent blog post on buying a foreclosure and not receiving your keys until the day after it closes, it appears that the California legislature has taken a stab at the heart of the problem, which was the fact that buyers were not allowed to pick their own escrow companies in these transactions. Banks would hire title and escrow companies to complete their foreclosure proceedings and when they turned around to sell the property as an REO, they would compel the buyer to use that same title/escrow company to complete the purchase.

Often, those companies would offer the banks a discount for the repeat business, but some of the fees charges to buyers were excessive. The problems were due mainly to the fact that these title companies were no longer accountable to both sides in the transaction. In addition, their workload was very high while even the local offices of the same companies sat around with little or no work. Commmon courtesy, reasonable fees, and familiarity with local county recorder's customs went out the door as escrows were outsourced to Lancaster, San Diego and Pasadena, to name a few.

Effective immediately, the new law requires that if a buyer chooses to use the seller's escrow company in a foreclosure purchase, that they be given written notice of their right to choose another company and that their choice will not affect whether or not they can buy the property. Bravo! This will certainly make a difference, as I can advise my clients as to the worst of the worst of these companies and they can choose to avoid them, and also because it now gives all those companies an incentive to return to customer service - so maybe they will return to basics and begin answering the telephone again and doing their job! Only time will tell if this law has enough teeth, but I am happy to see this step in the right direction. I just got my first escrow choice disclosure for a new REO deal today!

(December 1, 2009) Lake Marie Estates is a secluded enclave of executive and luxury homes in Orcutt, California, located east of Highway 101, off the Clark Avenue exit. When exiting 101 on Clark, instead of heading west toward downtown and Old Town Orcutt, head east toward the vineyards and wineries. Lake Marie offers a truly rural setting that is just minutes away from shopping and other conveniences. For those who wish to commute to Vandenberg Air Force Base, Lake Marie is about a 20 minute drive to the main gate. Due to the development's elevated position, homes in Lake Marie offer exceptional views of the Santa Maria Valley and residents claim they enjoy a microclimate that is even more pleaseant than the rest of the remarkably pleasant Central Coast. Homes in Lake Marie sit on quarter acre to three quarter acre lots and the homes are as massive as 5000 square feet in size. Smaller homes in Lake Marie begin over 2000 square feet.

Looking back six months, there have only been three sales reported in Lake Marie Estates on the MLS. The recent sales range from $510,000 - $865,000. The most recent sale was a 4000 sq. ft. custom home, built in 2006, which sat on over two thirds of an acre and sold for $865,000. In August, a 2300 sq. ft. home built in 1965 with 4 bedrooms and 3 baths sold for $520,000. Currently listed homes range from $677,000 - $817,717, and include a 3100 sq.ft. home on a quarter acre lot with an asking price of $699,999. If you are in the market for a luxury or executive home in Santa Maria or Orcutt, the Lake Marie Estates development should definitely be explored.

Click and search here for currently listed homes in the Lake Marie Estates area. If you would like a list of homes available in Lake Marie, or in Orcutt generally, send an email to me at tni@mintprop.com, give me a call at (805) 878-9879, or feel free to search for homes on my website: www.iLoveOrcutt.com.

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