Focus On South Vandendberg Village

This week I'm continuing to revisit some of the areas that I wrote about earlier this year with an updated look at South Vandenberg Village. If you'd like to go back to my original post and get a description and a little background on the area, click here. In a nutshell, what I'm talking about here covers the traditional 1960ish tract homes that dominate the area. The new construction and condos are tackled in other posts.

If you've even been glancing at this blog in the past few months, you'll know that our inventory has been getting thin. In South Village, it's razor thin. We have a whopping 4, count 'em, 4 houses on the market. That's not new, in fact it's up from 3 houses when I covered this area in March. Of the 4 active listings, two are short sales, none are REO's. One of them, however, is corporate owned - a relocation company is selling it. We don't have any contingent listings there at the moment. We only have one pending sale in the area, and it's a short sale.

As you might guess with the inventory being as low as it has been, we haven't been seeing a lot of sales up there recently. One sale, to be exact, in the past few months. That one was a traditional seller (not an REO or short sale). Because the activity up there has been so light, it's difficult to make an informed opinion of current price trends in the area. The area has historically tracked pretty close to the market as a whole, so I'd say that we're probably looking at pretty stable prices there so far this year.

I haven't decided on a topic for next week yet. The request line is open... If I don't come up with something, I might just revisit REO numbers. It's been a little while since I looked at that.