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Orcutt, CA Real Estate News

By Tni LeBlanc, Realtor®, J.D., Tenacious Tni (805) 878-9879
(Mint Properties, Lic. #01871795)
I'll Just Rent It Out "I'll just rent it out."  I do hear that one on occasion.  Usually from a seller who doesn't want to take less for their home.  Personally, I don't think it is a great negotiation tool.  When negotiating for a buyer, I don't give much weight to it.   After all, I didn't see a "for rent" sign out front.  I did see a "for sale" sign though.  When seller's agents go down that road in negotiations, I let them know that they will have a difficult time convincing me that a person who is trying to sell their house really sees renting it out as a good option.  At a minimum, a "for sale" sign is a declaration of a preference after all.  Sure they COULD rent it out, but why would they if they really want to sell?  The desire to sell is not going to magically disappear.  And ...
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By Tni LeBlanc, Realtor®, J.D., Tenacious Tni (805) 878-9879
(Mint Properties, Lic. #01871795)
The Unforeclosed We all know the stories of the unforeclosed.  They are not an urban legend or myth.  As a real estate professional, I have met more than a few people who have been living in homes where they haven't paid the mortgage for a year or more.  Contrary to popular belief, not very many of them consider themselves "lucky," as the stress of their financial situation is typically very intense.  Some don't even have a Notice of Default filed on their property.  Often they are moving through the loan modification process, and once complete, many will opt to begin a short sale process that could extend their unpaid stay even longer.  In reality, not all these homes are occupied.  Neighbors worry as homes sit vacant with no end in sight.  The bottom line is that there is a great dea...
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By Tni LeBlanc, Realtor®, J.D., Tenacious Tni (805) 878-9879
(Mint Properties, Lic. #01871795)
How Many Homes Were Sold in Orcutt 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 Orcutt last year, what the average sale price was, and how it compared to 2009.    Here you go: 2010                                              2009 396 Orcutt Homes        440 Orcutt Homes Average Sales Price $318,383 Average Sales Price $333,062 81 Days on Market      73 Days on Market $169.35 per square foot $178.29 per square foot 119 Orcutt REOs 170 Orcutt REOs 92 Orcutt Short Sales   76 Orcutt Short Sales       77 Orcutt Condos, PUDS 72 Orcutt Condos, PUDs Average Sales Price $183,981 Average Sales Price $178,274 84 Days on Market 89 Days on Market $139.06 per square foot $130.89 per square foot 29 Orcutt REOs   38 Orc...
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By Tni LeBlanc, Realtor®, J.D., Tenacious Tni (805) 878-9879
(Mint Properties, Lic. #01871795)
5 Reasons Why You And Your Agent Should Leave While Your Home is Shown In some real estate markets, having the seller or the listing agent present is the norm.  It is not the norm in the Central Coast real estate market, and if the seller or the listing agent is present for a showing it can detract greatly from viewing the home.  This is especially the case in today's real estate market where more than likely your competition is a vacant home that the buyer can linger in freely for as long as they desire.  So, if the buyer has to look at you while they are looking at your house, your home may stand out for the wrong reasons.  The following are 5 reasons why you and your agent should not be present when your home is shown: 1.       There is an art to showing houses.  When working as a bu...
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By Tni LeBlanc, Realtor®, J.D., Tenacious Tni (805) 878-9879
(Mint Properties, Lic. #01871795)
Thanks For Being A Friend Almost every real estate agent out there has a story of a client or potential client who felt obligated to use an inexperienced "friend" as their real estate agent and ended up regretting it.  Now, if your friend is an experienced REALTOR®, clearly using a friend could be a "win-win" situation for you.  But, using an inexperienced friend can end up being an expensive proposition.  As the housing boom has turned to bust, I have received plenty of calls from homeowners and potential sellers who used an inexperienced friend as their agent and now lament their mistake.  In most cases, they simply didn't realize that their friend's inexperience could matter THAT much. It's true they were a friend, so why didn't they: •        Really explain how the loan would adjust...
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By Tni LeBlanc, Realtor®, J.D., Tenacious Tni (805) 878-9879
(Mint Properties, Lic. #01871795)
Tni's Top Ten Posts for 2010 Thank you, David Popoff, for the great idea.  I am not including a couple of my hyper localized posts because they have hard earned SEO info in them, but I was shocked to see that 2 of my localized posts did as well as my featured posts.  In fact, they would have been numbers 3 and 4 respectively if included on this list.  It just goes to show that you don't need a feature to get some great google juice from Active Rain! Top Ten Posts for 2010: Confessions of a Short Sale Agent: I Already Hate Your Bank - 1767 views Don't Low Ball A Home You Love - 1680 views 4 Biggest Mistakes Short Sale Sellers Make - 1330 views Top 5 Reasons to Commit to Your Real Estate Agent Now - 1299 views FHA Loan Changes Impact First Time Home Buyers - 1250 views Failed Loan Modific...
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By Tni LeBlanc, Realtor®, J.D., Tenacious Tni (805) 878-9879
(Mint Properties, Lic. #01871795)
5 Reasons Why A Loan Modification May Not Be the Answer for You When considering whether you should pursue a short sale or a loan modification, homeowners should consider and discuss the following issues with their legal counsel and tax advisor.   •1)      Not every loan modification solves an equity problem.  If your house is worth half of what you paid for it, a loan modification may not solve your problem, unless it includes principal reduction as a part of it.  Bank of America rolled out a principal reduction program in June of 2010, and recently, Wells Fargo Bank announced that principal reduction will be a part of its "pick a payment" settlement with the California Attorney General's office.   (This list, of course, is not exhaustive)  Also encouragingly, the HAMP program has roll...
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By Kathleen Barnato, Realtor - Santa Barbara/Montecito Real Estate
(Kathleen Barnato, Your Santa Barbara & Montecito Connection)
Tour of Homes for Sale in Santa Barbara and Goleta, California From 12/16/2010 to 12/17/2010  - If you see something you like, let me know and I will help you make a deal! HE 10-3144 715,000 3148 LUCINDA LN M10 3 2 Price Reduced and commission raised to 3%,take another look!!! Calle Laureles 12/16/2010 10:00 to 01:00.   10-3598 1,695,000 2917 VERDE VISTA DR N11 Owner/ Main unit available to show.Come take a look before new tenants move in. Beautiful 4 Plex. Alamar Ave 12/16/2010 10:00 to 12:00.   HE 10-4102 649,000 1752 HILLSIDE RD N12 3 2.50 NEW LISTING - SPACIOUS WELL PRICED HOME WITH DETACHED ROOM WITH 1/2 BATH. MAY NOT LAST LONG. West Valerio 12/16/2010 10:00 to 01:00   HE 10-4019 1,625,000 1215 MIRACANON DR N13 3 4 Spacious Spanish with Spectacular Views! only 8 years old! Miramont...
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By Tni LeBlanc, Realtor®, J.D., Tenacious Tni (805) 878-9879
(Mint Properties, Lic. #01871795)
Don't You Hate It When REALTORS®  Post Pictures of Their Stupid Dog? What does their dog have to do with real estate?  I mean its like they are admitting that they have absolutely nothing to say.  I personally would prefer if they just took a day off blogging rather than just slapping some tacky picture of their stupid dog on their website.  After all, who wants to see their stupid dog?   Nine times out of ten it's not like their dog is even that special.  My dog, Spike, on the other hand, won a Blue Ribbon at the 2009 Woofstock at Waller Park Cutest Dog Competition.  That's right, a real blue ribbon, and they didn't even hold the competition again this year, so I think if you read the by-laws (if there are by-laws) that means that his reign is extended indefinitely.  MY dog is totally ...
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By Tni LeBlanc, Realtor®, J.D., Tenacious Tni (805) 878-9879
(Mint Properties, Lic. #01871795)
Have you heard of the Pilates Doctor in Old Orcutt? Jackie Cabalka, is not just a Pilates expert, but she is also a doctor of physical therapy with years of experience and training in her profession.  Pilates Doctor Physical Therapy is her own studio where she works  in a private environment to rehabilitate and encourage clients.  I have been going to Jackie for over two years.  Initially, I went to her for physical therapy, but I continued because I saw such an improvement in my balance and posture.  Also, I was at the point where I really didn't enjoy weight training any longer.  Pilates feels more natural and you get such a great stretch for your whole body.  I am definitely hooked.  I must admit I do not enjoy exercise classes either; working one on one with Jackie is a more enjoyab...
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By Tni LeBlanc, Realtor®, J.D., Tenacious Tni (805) 878-9879
(Mint Properties, Lic. #01871795)
What information does a bank typically require for a short sale package? Last two years tax returns Last two paycheck stubs for each borrower Last two months checking statements Last two months savings statements Profit and loss statement year to date (if self employed) Last two months business account statements (if self-employed) Hardship letter (explaining the reason for the short sale request) Financial statement (lists income and expenses for your household) Signed form 4506 -T (allows short sale lender to pull tax return copies directly from the IRS) I am a local real estate broker, attorney, Certified Distress Property Expert (CDPE) and Certified HAFA Specialist (CHS) and I specialize in short sales.  Contact me today at (805) 878-9879 for a free short sale consultation, or visit...
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By Tni LeBlanc, Realtor®, J.D., Tenacious Tni (805) 878-9879
(Mint Properties, Lic. #01871795)
Orcutt Homes - Cobblestone Creek Update Santa Maria Homes $250,000 - $300,000 Cobblestone Creek is community of newer homes for sale in Orcutt; it is near Stillwell Road and the Clark Avenue exit off Highway 101.  Most of the homes were sold new during the height of the housing boom, so 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 3 sales in the Cobblestone Creek development, 1 was a HAP sale (military relocation), 1 was a foreclosure, and one was a short sale. The average sale price was $395,967 with $185.28 per square foot paid and 91 days on market. Santa Maria Homes $300,000 - $350,000 At present, there are no active listings in Cobblestone Creek, indicating that this neighborhood still...
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By Tni LeBlanc, Realtor®, J.D., Tenacious Tni (805) 878-9879
(Mint Properties, Lic. #01871795)
  View of Hills from Models at Rice Ranch in Orcutt Orcutt New Homes:  Rice Ranch Opens a New Neighborhood! Have you visited the models at the Orcutt new home community, Rice Ranch lately?  I went by on Saturday to take a peek.  They are still selling "The Oaks" Neighborhood with prices ranging from $445,000 - $575,000 (price range valid as of date of blog), and floor plans ranging from 1777 - 2878 square feet.  The upgrades included are impressive: granite counter tops, 9 1/2 - 10 foot ceilings, surround sound wiring in great rooms, two tone interior paint, fully insulated exterior walls and ceilings, and cermaic tile flooring in the kitchens. Recently, the Rice Ranch Community opened the Pine Creek neighborhood adding another quality group of new homes to the Orcutt area.  The Pine Cr...
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By Tni LeBlanc, Realtor®, J.D., Tenacious Tni (805) 878-9879
(Mint Properties, Lic. #01871795)
Central Coast Real Estate: 3 Tips to Selling a Home with Tenants            Pismo Beach Coastline 1) Review your lease.  Make sure you know when the lease will end, and when the tenants will begin a month to month tenancy.  These are important facts to relay when selling a home with tenants.  Investor buyers willl want to know, and other buyer will want to know when the tenants can vacate the property.  Also, make sure you know how much notice the tenants are entitled to for showings - a well written lease will include a provision about notice. 2)  Communicate.  Don't send your REALTOR® over to tell the tenants that the home is being sold.   If they regularly deal with you or a property manager, they should be the first person's to tell the tenant that the home is going on the market.  ...
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By Tni LeBlanc, Realtor®, J.D., Tenacious Tni (805) 878-9879
(Mint Properties, Lic. #01871795)
Santa Maria-Orcutt Luxury Foreclosures Real Estate Update          Santa Maria Orcutt Luxury Homes $400,000 - $500,000   Elkhorn Estates   Looking at the luxury real estate market in Santa Maria and Orcutt California, there are currently 57 homes priced above $400,000 with an average list price of $657,303 and 179 days on market, and a median asking price of $515,000.  Looking at the luxury foreclosure market, there were no active luxury foreclosure listings (there was one luxury REO and it was pending), and there were 7 available short sales.  However, the sold data from the last 6 months creates a different picture, of the 34 luxury home sales, 5 were foreclosure sales, and 3 were short sales.  So, luxury and estate home buyers in the Santa Maria and Orcutt area have an appetite for f...
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By Tni LeBlanc, Realtor®, J.D., Tenacious Tni (805) 878-9879
(Mint Properties, Lic. #01871795)
Short Sale Alert: One Loan? No More Deficiencies After a Short Sale in California.          I think this is probably the most significant development for short sale sellers since the housing bust began and frankly it makes me proud to be a Californian. In my mind it was the right thing for the legislature to do. California Senate Bill 931 prevents first lien holders who approve a short sale from then turning around and pursuing the homeowners for the deficiency. Example - You paid $500,000 for your home. You have one loan. You apply for a short sale and the lender accepts an offer of $250,000 for the home. Previously, you would have to negotiate and negotiate with the lender to explicitly state in their short sale approval letter that they were forgiving the deficiency. Now if they acce...
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By Tni LeBlanc, Realtor®, J.D., Tenacious Tni (805) 878-9879
(Mint Properties, Lic. #01871795)
Negotiate Your Best House Buy Keep your emotions in check and your eyes on the goal, and you’ll pay less when purchasing a home. Read Visit houselogic.com for more articles like this. Copyright 2010 NATIONAL ASSOCIATION OF REALTORS®
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By Tni LeBlanc, Realtor®, J.D., Tenacious Tni (805) 878-9879
(Mint Properties, Lic. #01871795)
Top 5 Short Sale Myths:  A Message to Potential Short Sale Sellers            Myth #1:  I have to be an owner occupant to qualify for a short sale.   Where did this myth come from?   I've done short sales for investors and non-owner occupants.  They happen all the time.  I just listed a home where the lender told the owner to do  a short sale on their rental property.  You can sell your investment or rental property via short sale.             Myth #2: I'm upside down and that is not enough to qualify for a short sale.  First off, rarely do people want to short sell just because they are upside down.  Usually there is a trigger:  a job loss, interest rate change, divorce, etc.   Every lender uses different criteria to approve short sales.  The handwriting is on the wall, and some lender...
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By Tni LeBlanc, Realtor®, J.D., Tenacious Tni (805) 878-9879
(Mint Properties, Lic. #01871795)
Are you in the market for a condo in Orcutt CA (93455)? There are currently 57 condos listed for sale in the Orcutt real estate market. The average price is about $179,500 and sellers are asking about $132 per square foot for condominiums. The lowest price is currently $75,000 and the highest price is $319,000. In the last 6 months, 36 condos have sold in Orcutt. The average selling price was about $205,000 with sellers getting 99.5% of their asking price and buyers paying $142 per square for a condo in Orcutt. Looking for current Orcutt condo listings?: List of Orcutt Condos: $50,000 - $100,000List of Orcutt Condos $100,000 - $200,000List of Orcutt Condos $200,000 - $300,000List of Orcutt Condos $300,000 - $400,000 *Based on the information from the Central Coast Regional MLS. Neither ...
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By Tni LeBlanc, Realtor®, J.D., Tenacious Tni (805) 878-9879
(Mint Properties, Lic. #01871795)
Wondering what the market for home and condo foreclosures is like in Orcutt California? Here is your market snap shot answer: There are 295 active and pending homes and condos in the Orcutt zip code of 93455. Of those 295 properties, 41 homes are foreclosures (13.8%) and 113 are short sales (38.3%). So currently, over 50% of the Orcutt market is either a bank owned property or a short sale. Average asking price overall was $337,392, asking prices for foreclosures were significantly lower at $256,678, and for short sales it was $269,678.Looking back six months, there have been 233 sales in Orcutt with an average listing price of $308,966 and an average selling price of $302,707. So sellers are getting about 97.9% of their asking prices in Orcutt indicating that there is some (but not a l...
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