I did some analyis of the February Pendings which I found quite interesting.
For Santa Maria/Orcutt, 67% of the Pending Sales are foreclosures and 7% are Short Sales. Together, that’s 73% of the total Pendings!
For SLO County, 23% of the Pendings are foreclosures and 5% are Short Sales, for a total of 28% of the total Pendings.
As far as what cities in SLO County made up the foreclosures/short sale Pendings, here’s the list:
Paso Robles 38%
Arroyo Grande 16%
Grover Beach, Morro Bay, Oceano, Shandon, and SLO had the remainder (all under 4% each).
There were some pretty pricey homes on the list too including a $989,000 in Arroyo Grande, a $799,000 in Atascadero, a $730,000 in Nipomo, another one in Arroyo Grande for $639,000, and a $624,000 home in Paso Robles.
For Contingent Sales in February, 33% in SLO County were Short Sales (none were foreclosures). But in Santa Maria/Orcutt 72% of the Contingents were Short Sales and 24% were foreclosures (yep, that adds up to 96%).