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Aptos Times - March 2018

March 15 2018
March 15 2018

UPDATE - In 2018, 46 homes/condos have sold in and there are 48 homes/condos on the market. So, ONE MONTH inventory of homes = SELLER’S MARKET. Highest Sale-$1,796,000-161 Saint Andrews- 3B/3.5BA/2687SF home with ocean views.  Lowest Sale-$539,300-430 Day Valley-2B/1BA/ 695 SF on 3.45 acres. Average Sales Price is $940,314. Of the 37 Active Listings, only 9 are under $1 million. Bankrate.com quotes 30-year fixed at 4.25%-4.75%, a slight increase over last month, but still LOW. 2018 tax laws cap Federal Tax deductions for Property, Income, and Sales Tax at $10,000.  (Anyone who buys a new home at $800,000 or more has used this up just in Property Tax!)

SELLERS –I recommend that you make the upfront investment in Home and Pest Inspection reports (<$800 for both) prior to listing. Buyers will pay more and close faster if they know the issues up front. The CAR contract allows 17 days for physical contingency removal. During this time buyers can do inspections, get reports, and then ask for Credit for Repairs. By providing the reports up front, Buyers shorten their inspection periods and don’t ask for repair credit.  .

BUYERS – It is tough out there but there are many things you can do right. DO have your Pre-Qual letter from a LOCAL lender ready to go. DO have your agent review the Sold comps with you before you write an offer. DO be sure you understand the due date and any paperwork required to be submitted with the offer (often signed disclosures are part of the offer package). DO have your agent check in with list agent just before offer deadline to get number of offers already in hand or expected; your offer depends on how many others are making offers. DO reduce your 17-day Physical Contingency period if you can. DON’T talk trash about the property you are interested in at the Open House; the list agent will remember you.

TOP 10 THINGS TO DO WHEN BUYING OR SELLING A HOME - #1- Call Me! (I’ll handle the other 9… and then some!).


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