Chicago Title Company has been tracking the Bank/Mortgagee Real Estate Owned properties (properties taken back in foreclosure) in the three marketing areas of north Santa Barbara County. The results quantify that real estate markets are localized. What is happening in the Lompoc Valley and Santa Maria Valley troubled real estate markets is not happening in the Santa Ynez Valley market.

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According to Chicago Title Company “Real Estate Market Watch” Grant Deed Recordings for Resale’s during 2007 were up 3% in the Santa Ynez Valley, but in the other North County areas  Lompoc was down 31% and Santa Maria was down 22%. It is interesting to note that on a month to month comparison from the previous year (2006) the SYV equaled or surpassed the previous year 6 times, whereas Lompoc only exceeded 1 month and Santa Maria did not exceed any.