The Santa Maria/Orcutt real estate market continues to feel the effects of the fallout of the sub prime loans of the previous years. As those loans are coming to maturity, we are seeing the percentage of our inventory increase in our valley. Quote from Joseph Holland, county clerk, recorder and assessor, states 85 percent of the counties foreclosures this year have been in the Santa Maria Valley. Multiple listing Service (MLS), states today 758 homes available with 285 of those being foreclosures, notice of defaults, or short pays, that’s over 26% of the inventory now. If you are looking at any of these possible situations arising, don’t wait until the last moment - you have options that should be explained in detail to you prior to it being to late.

Posted: September 20th, 2007 under Foreclosures.