new_home_communitesAre you considering buying a brand new house in one of the new home communities in the Santa Maria and Orcutt area?

If so, I’ve got some great news for you. There are several quality new housing construction projects available with some very nice product. The fact that these new houses are still available for sale is a statement of the strength of the builders and their ability to make it through some tough economic times.  It is likely that they will be around in the future to back their product.

Lately I have been spending quite a bit of time putting together a Guide to New Homes on the Central Coast.  I wasn’t able to find one source of information that compares the new construction projects, their amenities and prices, so I put one together myself . Now buyers who are considering a new home can start by seeing an overview of their options.  I have researched and become familiar with the new home builders and the new homes for sale and I am happy to share this information with clients.  There are several options throughout the Central Coast, and today I’d like to focus on the ones in Orcutt, outside of Santa Maria’s city limits.

Rice Ranch Community  –  In many ways, I see these homes as Orcutt’s future.  Their master plan is to have 755 homes in 5 different neighborhoods built out over 350 acres in the beautiful foothills of Orcutt.  Currently they are building two neighborhoods, the Oaks and Pine Creek, which have various floor plans available starting at $435,000 and up.  Western Pacific Land Group is the excellent builder on this project.

Old Mill – This project is located behind Foxenwoods Estates in Orcutt.  They offer a small community of only 54 homes, from 3 -5 bedroom homes starting in the mid $400,000.  I love the location which is within walking distance to charming, Old Town Orcutt.  Capital Pacific, another excellent builder, is behind the Old Mill project, which offers single and two story floor plans.

Enclave at Harp Springs – This is a 44 homes development with less than 10 homes left at the time of this writing.  They have an awesome setting overlooking an oak-studded valley.  There are beautiful views from every home and very nice floor plans.  Capital Pacific is the builder for this project too.  Home prices start in the low $500,000.

If you are just starting your search, you may be interested in learning more about my Rebate Program for New Home Buyers in addition to seeing my New Home Guide.  I am offering to share a percentage of my commission with new home buyers who allow me to represent them in the negotiation and purchase of their new home.  I have a great deal of experience in this area and may be able to help you get a better price and more upgrades.   Plus you’ll get a generous check as a rebate once you close escrow on the sale.  Some restrictions apply, so make sure you check out the New Home Rebate Program before you start visiting any of the projects.

-Eddie Stanfield

New home builders are active again on the Central Coast. Here is an update to this article: New Home For Sale in Santa Maria and Orcutt

I read an article this morning in the San Luis Obispo Tribune stating that new home sales are on the rise nationally.  Unfortunately, it’s hard to believe that’s the case on the Central Coast. Yesterday I drove from Orcutt & Santa Maria to Paso Robles to get an idea of the current status of new home construction; it was somewhat bleak at best. As I drove through each town, numerous subdivisions were left for dead, mothballed or in foreclosure. Very few were able to weather the storm of this economic downfall. Sad to see all the subdivisions with lots sitting idle, curbs and cutters already installed just waiting to create someone’s American dream of ownership. However, the Tribune article shared a glimmer of hope to the future. Across the nation, new home sales rose at the fastest clip in more than eight years! Understandably, part of this spike was due to the fact that values continue to fall, forbidding contractors to leap back into the market as their margins of profit marginal at best. The contractors of these subdivisions still have unsold inventory to sell, and at the current sales pace, there are enough new homes existing to last nearly nine months. Between not being able to secure money from the banks and not being able to sell what they already have, we are facing a notable challenge for this situation to change dramatically in the next year or so.
Many economists insist with this pace the worst of the housing recession is behind us, having seen three straight months of substantial sales. But this is from a national perspective, with the Midwest the strongest at a 43% increase in sales, 23% in the west and 29% in the northeast. They declined slightly in the south. I see the biggest obstacle to new home sales is the glut of foreclosures. Between the low prices and the tax advantages for first time buyers, resale homes are going to continue to dominate the market on the Central Coast. Let’s all hope this trend of rising sales continues for the good of America.

-Eddie Stanfield

The state of California has allocated $100,000,000 in tax credits to those buying a brand new (never been occupied) home between March 1, 2009 and March 1, 2010.  You do not have to be a first-time buyer to qualify.  There are some beautiful new home construction projects in Orcutt, Santa Maria, Lompoc and Nipomo and they are offering a variety of incentives to buyers right now.  If you would like a list of the projects and more information, feel free to contact us.

For more information about this tax credit, visit the State of California Franchise Tax Board website.