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Spring 2012 Market Update
If you can qualify, now is an exceptional time to buy a home in Lompoc. Low rates with low home prices makes a home purchase a great value! Call now for more information at 805-878-9879
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| Average Home Price | $225,000 - View Graph Trend |
| Average Price Compared to Last Year | No Change |
| Average Time on Market | 60-90 days |
| Best Selling Price Range | $150,000 - $199,000 |
| Worst Selling Price Range | $200,000 - $249,000 |
| Prices As % of Asking Price | 95-100% |
| Existing Home Prices for the past 90 days are? | No Change |
| Market Trend | Decreasing |
| Buyers’ or Sellers’ Market | More buyers than sellers |
| Buyer Activity for the past 90 days in Lompoc is | Decreasing |
| Seller Activity for the past 90 days in Lompoc is? | No Change |
| Multiple Offers? | Yes |
| Multiple Offers Commentary | Multiple offers on homes under $200,000, newer homes, and homes in desirable locations/neighborhoods are still quite common. |
| What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales? | More than 50% |
| Is Financing Available For Qualified Buyers? | Yes |
| Comments on Financing For Qualified Buyers | There are more hoops, and financing takes longer, but it is still available. |
| Housing Inventory | Limited Supply |
| Inventory Comments | Foreclosures and short sales are snapped up quickly when priced under $200,000. |
| Greatest Activity | Investors |
| Reason to Buy/Sell | Lower prices and competitive interest rates create a perfect time to buy in Lompoc! Sellers find that their homes move fast when priced correctly in this market due to limited inventory. Investors find that a rental has better returns right now than other alternatives. |
| Nearest Metro Area | Santa Barbara |
| Housing Hot Spots | Santa Maria, Orcutt & Vandenberg Village. |
| Average Sold Price | $225,000 - View Graph Trend |
Lompoc Local News
Agent quarterly survey shows growing optimism toward a housing market recovery
End of tunnel, meet light. Real estate agents have been imagining that vision for a while, and first-quarter optimism in 2012 has some saying the road to recovery could be just around the corner.
Much of the upbeat attitude from HouseHunt's market condition survey stems from tighter inventory and houses not remaining as long on the market. Of agents reporting, 38 percent said inventory was tight in their cities, compared to 32 percent in the fourth quarter of 2011 and 13 percent at the beginning of last year. Regarding time on the market, 30 percent reported houses selling in 60 days or less, compared to 22 percent in the previous quarter and 10 percent at the beginning of 2011.
Click here for full article...
End of tunnel, meet light. Real estate agents have been imagining that vision for a while, and first-quarter optimism in 2012 has some saying the road to recovery could be just around the corner.
Much of the upbeat attitude from HouseHunt's market condition survey stems from tighter inventory and houses not remaining as long on the market. Of agents reporting, 38 percent said inventory was tight in their cities, compared to 32 percent in the fourth quarter of 2011 and 13 percent at the beginning of last year. Regarding time on the market, 30 percent reported houses selling in 60 days or less, compared to 22 percent in the previous quarter and 10 percent at the beginning of 2011.
Click here for full article...
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Mortgage Rates
– May 28th, 2012 –
---------------------------------
30 yr. fixed rate: 3.82%---------------------------------
15 yr. fixed rate: 3.11%
30 yr. jumbo rate: 4.38%
15 yr. jumbo rate: 3.61%
Home Values
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