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APTOS TIMES - October 2018 "Stall in the Fall"

October 10 2018
October 10 2018

Yikes. We have a “Stall in Fall” in the Real Estate world. The market has really slowed; days on market are increasing and prices are coming down. It appears that the fall/winter market will be a “Buyer’s Market”.

 

SELLERS - here is the harsh truth for you. If you have had limited showings, lightly attended open houses, no agents pulling your disclosure packets, any negative feedback from agents who have showed, have not received any offers, and have been on the market for at least 30 days – then – the issue is PRICE.  It boils down to what price your property can command given the current market conditions. Everything does sell, at the right price.

BUYERS – yes, interest rates have gone up. Bankrate.com 30-year fixed is now at 4.79%, up from 4.54% in June. That is $10/month per $100,000 loan or $120/year more interest paid. But/and – that townhome you wanted that was originally listed at $749,000 in June, and is now reduced to $729,000, that you can probably get for $719,000, is going to save you $30,000. Even over 30 years, you made the right decision to buy now at the still low interest rate of 4.71%.

GREAT DEALS (as of 10/08) I have three Active Listings that need buyers. All are ‘Right-Priced’ now.

  1. 2911 Leotar Circle is a 3 bed, 2.5 bath, 1448 Sq. Ft. townhome in complex with pool and a hot tub, a mile to the ocean and ½ mile to the mall. Low HOA of $342/mth includes water and garbage. Two-car garage converted to one-car + bonus room. Asking $729,000.

 

  1. 359 Village Creek is a 2 master bedroom, 2.5 bath, 1442 Sq. Ft. townhome adjacent to Nicene Marks State Park and one mile to the beach. The low HOA of $279/mth includes Earthquake Insurance. Carport plus parking. Asking $699,000.

 

  1. 3. 1613 Taylor Lane is a spacious 1 bed, 1 bath, 1149 Sq. Ft. upstairs single-level living unit in Santa Cruz near Arana Gulch and the Harbor. There is potential for a loft bedroom or alcove bedroom add. Pool, hot tub, gated community. Asking $569,000.

Happy Fall – and for anything Real Estate – call me, text me, email me and… Get Results With Ruth!


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