Tuesday, January 15, 2008

Santa Maria and Lompoc Real Estate December 2007

The North County Sales showed some signs of life in December rebounding from October and November's numbers. The Santa Maria and Lompoc Real Estate Sales posted a 13% gain in the number of sales from November. If you look at some of the past years, this seems pretty typical in that market. In reviewing the list of sales, there were quite a few bank owned properties selling. Hopefully that is going to help strengthen that market by getting those properties out of the mix of listings that are available. If you focus your attention to the Santa Maria Orcutt sales, there increase over November was 17.5%. This was the highest number of sales in that area since August of this year. It is interesting to note that for December 2006 in Santa Maria there was not an increase in the number of sales as there had been in previous years. Lompoc on the other hand was flat. There were 25 sales in November and December of this year. I'm not quite sure what to make of the Santa Maria and Lompoc Real Estate markets. I do think that shortly people are going to start understanding that the prices are excellent. The really good news for these areas is that many properties can be purchased with a conforming loan. Those loans have excellent interest rates, even though they are a bit harder to qualify for than they were a year or so ago. See You In Escrow!

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