About Santa Maria's Riveroaks

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 regular sales. The average sale price was $290,167 compared to an average list price of $290,965; average price per square foot paid by River Oaks home buyers was $149.15, with 77 days on market.

Santa Maria Homes $250,000 - $300,000

So, sellers are receiving about 99.7% of their asking price in the River Oaks development, indicating that the community has much appeal for buyers. There is currently 1 pending home sale in the River Oaks homes for sale in Santa Maria. There are five contingent short sales currently, with a median asking price of $280,000. At present, there are 6 active properties in River Oaks, indicating that there may be some bargaining room for buyers due to the increase in available inventory in this neighborhood. The median asking price of available homes is $252,500, and the average is about $256,000, which is noticeably lower than the sold average in the past 6 months. So, there appears to be some softening in prices in this neighborhood. This may also be due to the fact that majority of homes sold in the Santa Maria River Oaks development continue to be distress sales at this time.

Santa Maria Homes $300,000 - $350,000

River Oaks is a charming community that offers a real retreat feeling to Santa Maria home buyers. Other newer home communities in Santa Maria include Essex at Willow Creek, La Ventana, Sculptures, Villaggio, and Cherry Blossom Ranch. If you are looking for a home in one of these Santa Maria or Orcutt developments, call me today for an appointment (805) 878-9879.

Tni LeBlanc, Mint Properties
www.MintProperties.net

*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

Copyright © Tni LeBlanc 2010*Santa Maria Homes*

River Oaks

River Oaks is a newer subdivision of homes located in northeast Santa Maria. Building began around 2001 and there are at least 5 different floor plans. The subdivision is home to Taylor Elementary School which lies at the center of the development, a man made lake, and direct access to riverbed adjacent biking and walking trails. There are two one story plans, both are smaller 3/2 homes at about 1400 sq.ft. and 1600 sq.ft.; the two story plans begin at about 1900 sq.ft. and go up to at least 2700 sq. ft., depending on the options the original owner selected. Some of the 2 story models have 3 car garages, one plan has a downstairs master bedroom, and at least one of the other plans has a downstairs guest bedroom option. Looking back at the 3 month period from November 2008 - January 2009, 17 homes sold in the River Oaks subdivision, with an average selling price of about $284,000, and an average list price of about $294,000.

Walking Trails at Riverbed

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. The smaller one story models sold for between $250,000 - $268,900; the larger two story models sold for between $284,000 - $338,000. Currently in River Oaks, there are 14 homes that are active, contingent or pending. 5 active listings, 1 contingent listing, and 8 pending listings. 7 are REOs (bank owned) and 7 are short sales - so all the current listings are either foreclosures or pre-foreclosures. Current listings have been on the market an average of 116 days, and have an average asking price of $293,000.

Lake at River Oaks

If you would like information or a list of available home foreclosures, condos, or short sales in the Santa Maria - Orcutt CA area, send an email to me at tni@mintprop.com. You can also search for properties on my websites: iLoveSantaMaria.com, SantaMariaRealEstateSearch.com, & BuySantaMariaForeclosures.com (map based search), If you are considering selling and would like a list of nearby sold properties for comparison, send me a request at SellMySantaMariaHome.com. If you have questions about a specific property, or would like to set up an appointment to consult about a possible short sale of your property, I can be reached at (805) 878-9879.

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.