Santa Maria – Orcutt Monday Market Update

All sales activity in the Santa Maria Valley was down this past week.  What influences buyers?  We are fast approaching the traditional “Spring Market” and yet sales are down?  It’s only one week out of many, but in every category, it’s a minus rather than a plus.  Maybe it is a result of world news, which has not been positive at all; maybe it’s tax preparation time — if you know, tell me, because I honestly can’t pinpoint it.  Interest rates are still very good, at less than 5%, so it can’t be that.  Let’s see what happens this week, and I’ll report back next Monday!

 

 

 

 

 

 

 

 

One thing is for sure:  our local housing market has pretty much recovered from the crash!  That is evidenced by the lack of Contingent REO and Contingent Short Sale activity.  The sales you are seeing now are traditional, regular sales from sellers with equity, whether large or small (the equity).

For more local real estate information, please feel free to give me a call at (805)937-5777 or complete the Contact form below.  Thanks!

 

Santa Maria – Orcutt Monday Market Update

What’s that old saying  about the month of March?  “In like a lamb, out like a lion”?  Well, when you see the reported stats for last week, that certainly applies to the month of February!  The last week of February was certainly as good for real estate sales, as it was for drought relief here in the Santa Maria Valley.  Listing inventory is up again, and I think you will see the difference in the market when you compare to activity this time last year.

2014

 

 

 

 

 

 

 

 

2013

 

 

 

 

 

 

 

 

Inventory is up 68% over last year!  The “distress sales” category (short sales, bank-owned REO) is down from 9 total to 3.  Average sold price is about 22% higher today than last year.

Higher inventory means a better selection which translates to more competition.  Sellers need to put their best foot forward and be real about market value.  Buyers have more from which to choose and can be slightly pickier.

It is a changing market.  If you are planning to buy or sell, give me a call and let’s talk strategy!  I can be easily reached at (805) 937-5777 or complete the Contact form below.

 

CAR Market Conditions Report

The California Association of REALTORS® most recent report on housing in our state.  This is a good overview, although the fact is, real estate is local.  What happens in the Santa Maria Valley real estate market is not going to match the status of the Newport Beach market, or even the Bakersfield market, to get a little closer to home.  Stay tuned to my weekly reports on Mondays when you want to dial into Santa Maria and Orcutt!

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Give me a call if you would like more information, or just want to buy or sell a home — that’s my area of expertise, for over 28 years and counting!

 

Santa Maria – Orcutt Monday Market Update

Santa Maria Valley is now experiencing the highest inventory in months!  This is great news for buyers, but for sellers — there is a little more competition.  Sales are going along, but not at a pace that would be worthy of writing home about.  It would be safe to say the new year is off to a medium to slow start, hopefully gearing up for the touted “Spring Market” that often occurs from April to June, when school lets out for the summer.  June will slow down again, as it is a month laden with activities that outshine house-hunting: weddings, graduations, Father’s Day, the conclusion of the school year and the start of vacations.

Here are the results for last week.

 

 

 

 

 

 

 

Let’s take a look at the same time frame in 2013!

 

 

 

 

 

 

 

A considerable improvement for 2014 on several counts: market values and lack of short sales and REOs.  It is a solid indication that our local real estate market is healing nicely!

For more information about our market, or to discuss buying or listing a home, please give me a call at (805)937-5777 or complete the Contact form below.  Thank you!

 

Condo Listings Growing in the Santa Maria Valley

Sounds funny, that title, because as everyone knows the Santa Maria Valley grows great crops of vegetables and strawberries!  So condo listings are not literally growing here, but the number of the active listings in the condo/PUD category has grown twofold since my last report on the condo inventory on January 24.  In less than a month, our condo inventory has literally doubled, from 9 to 18!

Today, the average price of a condo/PUD in the local market is $257,000, the average square footage is 1,573, the average price per square foot is $164, and the average “days on market” is 24.

8 of the 18 homes are priced over $300,000.  3 are in the $200,000 range, and 8 are priced under $200,000.

9 are two bedrooms, 8 are 3 bedrooms, and just one has 4 bedrooms. Check that one out here, priced at just $279,900!

Life in a condo or PUD is something many people love.  Those that enjoy condo living typically appreciate the amenities offered by being part of a community, such as a pool, tennis, volleyball and sports courts, clubhouses, etc. that don’t require the agony of upkeep!  Condos are often more affordable than single family homes, too!

Questions about our condo inventory?  Just give me a call at (805)937-5777 and I’ll be happy to help!

 

 

 

Santa Maria – Orcutt Monday Market Update

More new listings! Buyers certainly have more choices, now that our inventory has increased to 135 — just a few short months ago, we were struggling to get to 100!  Not so many closed sales last week, but pendings were up.  Here’s how it went during the past week of sales in the Santa Maria Valley:

 

 

 

 

 

 

 

Buyers who have been on the fence, so to speak, need to take a fresh look at the local market — new listings, but they are still being snapped up fairly fast, and the other factor that indicates “sooner rather than later” is that it is becoming harder to get financing. New industry-wide lender rules may make obtaining a loan a bit more complicated.

If you are ready to buy or sell, I’d love to have the opportunity to discuss your plans and help you achieve your goals.  I can be reached at (805)937-5777 or complete the Contact form below. Thanks!

 

Home Prices in the Santa Maria Valley

Have you ever been curious about price ranges in Santa Maria and Orcutt? Today seems like a great day to investigate, so I have broken down the total number of homes, condos and PUDs (Planned Unit Development) currently in Active status on our MLS into price ranges by $100,000 increments.  SFR = Single Family Residence.  Days on Market = the time between the when the listing goes on our MLS and the time the listing goes into a pending (under contract) status, i.e. the market time.

$0 – $199,999

There are 11 active listings.  5 are in Orcutt (all except one are in the Condo/PUD category); 6 are in Santa Maria (4 SFR, 2 Condo/PUD). The least expensive SFR is in Orcutt, at $149,900.  The average Days on Market = 24.

$200,000 – $299,999

Of the 29 active listings, only 3 are in Orcutt and 26 in Santa Maria. Of the 29, just 5 are Condo/PUD.  The average Days on Market = 53, and the lowest price in this range is $225,000.

$300,000 – $399,999

This is the price range with the most Actives, at 50.  26 are in Orcutt, 24 in Santa Maria, so it’s pretty evenly split.  Only 8 are Condo/PUD and 42 are SFR.  The least expensive is $305,000, a short-sale in midtown Santa Maria.  The average Days on Market = 37.

$400,000 – $499,999

There are 18 active listings, with 10 in Orcutt and 8 in Santa Maria, and all of the listings are SFR.  The lowest price in this range is $408,005 and the average Days on Market = 41.

$500,000 – $599,999

Not so many in this price bracket: only 9 total, with 8 in Orcutt and 1 in Santa Maria.  The lowest price is $508,900, and the average Days on Market = 67.

$600,000 – $699,999

This price range produced 9 active listings, with 7 in Orcutt, 1 in Santa Maria, and 1 in Santa Maria Rural.  The least pricey is $619,000 and the average Days on Market rose to 132.

$700,000 – $799,999

Only 3 active listings, all in Orcutt.  $725,000 is the lowest price of the 3, and the average Days on Market = 193, the highest so far!

$800,000 – $899,999

There are 4 actives, all in Orcutt, with $849,000 being the lowest price and the average Days on Market = 106.

$900,000 – $999,999

Only 1 lonely listing in this range, in Orcutt, currently on the market for 41 days and priced at $906,000.

$1,000,000 – up

Talk about lonely, there is only 1 active listing over a million bucks in the Valley, at $1,250,000 in the Santa Maria Rural area, and it’s been on the market 163 days to date.  It’s unique and requires a certain type of buyer wanting acreage, as it sits on 10 acres and the home has over 4,300 square feet.

Here is the lowest price ($149,900) single family residence, and the highest ($1,250,000):

(Photo doesn’t do this property justice.)

So there you go — from the least to the most, it is interesting to note that the higher price ranges remain on the market the longest time, our middle range is $300-399,000, and the majority of listings in that price range and above are in Orcutt, while the majority of listings below that price range are in Santa Maria.

Affordability is possible in North Santa Barbara County! If you don’t know your budget, let me know, and I’ll connect you with a great local lender.  There is no point in shopping for a home without knowing your parameters, both in qualifying for a mortgage, and in your personal comfort level.  Please give me a call at (805)937-5777 or complete the Contact form below, and let’s get started! And tune in tomorrow, Monday February 17, for my weekly report on real estate sales in the Santa Maria Valley!

Santa Maria – Orcutt Monday Market Update

Inventory is up! It may not seem like such a big deal to have added 15 new listings over the past week, but it is a 10% increase, which is better than a 10% decrease.  Overall, things are moving along steadily, and that’s an indication of a stable market.  Maybe this year we will even experience the traditional “Spring Market” as in the past, well, what often seems like the distant past, in healthier days! Here are the stats for last week, and for comparison, the same time period last year.

2014

 

 

 

 

 

 

 

 

2013

 

 

 

 

 

 

 

Interesting.  The average price of closed sales last week is the same, within a few dollars, as the average price of new listings last year.  And 31 listings went pending last year, and only 18 this year.  Last year there was an influx of investors,  hoping to cash in on the lowest possible price range, but with prices higher now, there will be fewer investor-driven sales.

For more information about buying or selling, please give me a call at (805)937-5777.

Foxenwood Estates Update

There are only 3 homes on the market right now in Foxenwood Estates, making it pretty hard on buyers who would enjoy the neighborhood lifestyle offered in this Orcutt area.  If you are aren’t familiar with Foxenwood, it was established back in the 1970’s when local builder Mark Smith developed the land bordered by Union Valley Parkway to the north, State Highway 135 to the east, Blosser Road to the west, and Doverlee and Burlington to the south.  Note: there are Foxenwood Townhomes on the east side, approximately bordering Foxenwood Lane, so it is next to impossible to give a precise “border” of Foxenwood Estates.

Foxenwood Tennis & Swim Club

Part of the attraction is the Foxenwood Tennis & Swim Club, and here is a link to an older post (and photos) I wrote about the club.  Yet another is the 12-page neighborhood newsletter, published every other month!  And there is an annual picnic, usually in early September, and while in the past it has been held at nearby Pioneer Park, in 2014 it will be moved to the clubhouse.  There isn’t another housing area like Foxenwood in all of the Santa Maria Valley!

Here are the current listings!

1177 Greenridge Court – $539,900 – 4+3

 

972 Camelot Drive – $479,900 – 3+2

 

464 Foxenwood Drive – $459,000 – 4+3

Want to know more?

For more details about these listings, or about Foxenwood Estates, please give me a call at (805)937-5777 or complete the Contact form below — I’ll be happy to help you, or to make an appointment to view these homes!  As a member of our Santa Maria Association of REALTORS®, I can show any listing and represent you as a Buyer’s Agent.

 

 

Santa Maria – Orcutt Monday Market Update

Great, a few more new listings this week, bringing our current inventory in the Santa Maria Valley up to 115!  Every little bit helps, as they say, and we also closed more escrows this past week.  Buyers are out there and while everyone wants a “deal”, here is a sage word of advice: the best deal was 4 years ago.  The second best deal is now.  Ponder.

Here are the sales stats for the last week of January!

 

 

 

 

 

 

 

And for comparison, here is the same time frame a year ago:

 

 

 

 

 

 

 

Call for any questions, and of course, if you are interested in buying or selling a home!  I’m never too busy to help!