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Aptos Times - May 2018

May 15 2018
May 15 2018

APRIL SALES - Wow! Two sales over $4 million in April. Both homes are brand new builds with extensive ocean views. 658 Bayview sold for $4,975,000 and 110 New Brighton sold for $4,495,000. 5 homes sold for above $2M, 3 homes sold $1.5-$2.0M, 10 homes sold between $1.0-$1.5M, and 11 homes sold for under $1M. The lowest sale was 153 McKay – 4B/2Ba/1825 SF sold in 15 days; listed at $659,000 and was bid up to $710,000. Monthly Median List Price-$1,175,000, Sales Price-$1,153,000.

ACTIVE LISTINGS – As of 4/29, 50 homes are for sale ranging from $479,000 for 840 Cathedral – 2B/1BA/885SF to $5,298,000 for 120 Debernardo Lane – 7260SF home with ocean views on 2 acres. The Median List Price is $1,304,500. Homes are on market <30 days over 80% of the time.

INTEREST RATES – quotes 4.59% for a 30-year fixed rate loan as of 4/29/18; up from $4.27% last month. The Feds raised the rate in March and will raise the rate at least one-to-two more times this year.

SELLERS - Inventory continues to be very low. It is a Seller’s Market for sure! Beware of ‘instant, on-line valuation offers’ – you do not always know who you are really talking to. I offer a FREE, in person, Market Valuation of your home.

BUYERS – Because home prices are so high, consider Condos & Town Homes (TH). There are pros and cons of course; many buyers don’t like an HOA expense, but quick math shows that a $300/HOA is roughly = +$60,000 loan value (@4.5%), so a $650,000 Condo/TH is ‘equivalent’ to a $680,000 House. There are no $680,000 houses to be had. For a $300/month HOA on a Condo/TH, typically all exterior maintenance of your home is covered as is Fire Insurance. Townhomes often “feel” like a single-family home, so don’t rule them out.

NEW LISTING444 Pebble Beach Drive-(5-Car Garage!, 3 bed, 2.5 bath, 2835 Sq.Ft. on 10629 lot). Open House Sat/Sun 5/19/20 1:00-4:00pm. Asking $1,399,000. Come on BY and say “HI”. Come on BY and BUY!


#1- Call Me! (I’ll handle the rest!)


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