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Blog Archives

APTOS TIMES - December 2018 "For Sale by Owner (FSBO)"

December 06, 2018
APTOS TIMES – DECEMBER ISSUE By Ruth Bates   BUYERS – Do I have to have 20% down to buy a Home? Having 20% down is not a requirement to purchase a house. Of course, the more you have to put down, the better your loan terms will be, but most lenders now have low down payment programs. FHA only requires 3.5% down. I have seen 5% and 10% down loans recently. And you can use “gifts” with your loan. Contact your LOCAL lender for details. SELLERS – When is the Best Time to Sell? It used to be May, but this year both Zillow.com and ...

APTOS LIFE – REAL ESTATE UPDATE – 2018

November 29, 2018
RECAP – 2018 sales volume is flat compared to 2017. 1668 homes sold in Santa Cruz County at anAverage Price of $833,869. In Aptos, 263 homes sold at an Average Price of $1,199,047 and MedianPrice of $1,003,000; much higher than the County but same as 2017. Up until September, Average Dayson Market (DOM) were low; homes = 38, condos = 17, townhomes = 23. It was a “Seller’s Market”. Highbeach property sale is $5.5M for 1106 Via Malibu, non-beach high sale is $2,450,000 for 951 Old FarmLane, I sold 444 Pebble Beach for $1,150,000 (right at the ...

APTOS TIMES - November 2018 "Year to Date and Current Sales"

November 09, 2018
Aptos Year-To-Date Sales (thru 11/07/18) 238 Homes have sold-to-date, High Sale- $5.5M- 1106 Via Malibu, Low Sale- $451,500- 757 Cathedral. 57 sales under $800,000, 60 sales $800,000-$1.0M, 92 sales $1.0-$2.0M, and 29 sales over $2.0M. Average Days on Market (DOM) =36, Median List Price- $999,250, Median Sales Price $1,005,500. 21 Condos sold in 19 DOM and 32 townhomes sold in 17 DOM, so it really was a Seller’s market here. Townhome High Sale- 1075 Via Tornasol (3B/2.5Ba)-$966,000, Low Sale- 3003 Corte Cabrillo (2B/2Ba)-$480,000. Median ...

APTOS TIMES - October 2018 "Stall in the Fall"

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 ...

Aptos Times - August 2018

August 15, 2018
MARKET - Summer did not bring higher prices and quicker sales this year. The market has slowed down over the hill and here. I represented the buyers on 1480 Dougmar in Live Oak, (3 bed, 2 bath, 1374 SF); originally listed for $850,000, on the market for 43 days before Sellers accepted our offer of $800,000 (94% of list). I represented the Seller at 444 Pebble Beach in Aptos, (3 bed, 3 bath, 2835 SF with a 5-car garage) originally listed for $1,399,000 and sold for $1,150,000 (82% of list) after 46 days on market. That said, my current listing ...

Aptos Times - July 2018

July 15, 2018
PRICING – Pricing your home correctly based on market conditions (comps) and amenities of your property is the most critical thing a Seller can do, and it should be done with a LOCAL, PROFESSIONAL REALTOR who knows the market. Pricing considerations should include: location within County, location within neighborhood, size and floor plan of house, garage, # of beds and baths, condition of house, size and usability of lot. Pricing should not be based on: what you originally paid for house, amount of cash you need for new home, actual costs of ...

Aptos Life June Update - 2018

June 20, 2018
CALIFORNIA PROPOSITION 13 TAX TRANSFER INITIATIVE If you are over 55 or disabled, pay close attention. The California Proposition 13 Tax Transfer Initiative will be on the ballot on November 6, 2018. A “yes” vote  supports amending Prop 13 to allow homebuyers who are age 55 or older or severely disabled to transfer their tax assessments (with a possible adjustment) from their prior home to their new home no matter (a) the new home’s value; (b) the new home’s location in the state; or (c) the buyer’s number of moves. The significance of ...

Aptos Times - June 2018

June 15, 2018
HOT SANTA CRUZ MARKET! In May, three of my buyers (all with loans) lost out on multiple offer deals in Santa Cruz. 714 Marnell listed for $949,000, got 9 offers, will close for $100K+ over list. 512 Sumner, duplex in Seabright, didn’t even get a counter as a “pre-emptive” all cash/over list price offer came in. 221 Walk Circle in lower Westside SC listed at $1.1M also got a “pre-emptive”/cash offer, and agent asked if my buyers could come up to $1.3M. This said, Aptos is a “softer” market right now. Median prices are up, but so are Days on ...

Aptos Times - May 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 ...

Aptos Times - April 2018

April 15, 2018
UPDATE – Q1 Aptos Home Sales = 55 homes, 6 condos, 9 townhomes. Avg. Home Sales Price-$961,791, Median Sales Price-$885,000. Highest Sale-$5.5 Million-1106 Via Malibu 3537 SF. on the bluff. Lowest Sale-$451,500-757 Cathedral, 2B/1.5BA/936SF/REO. Condo High-$1,278,880-260 Rio Del Mar #24. Condo Low-$629,000 for 2603 Willowbrook #24, 3B/2BA/1448SF.  Townhome High-$899,500 for 3114 Corte Cabrillo, 5-year old 3B/2.5BA/1926SF. Low-TIC (tenant-in-common) property at 6024 Soquel, 2B/2BA/1100SF sold for $400,000. Current Bankrate.com loan quotes = ...

Aptos Life - March Update - 2018

March 20, 2018
MARKET UPDATE Spring is in the air and inventory is picking up. Since January 1, 203 homes have come on the market across the County and 41 homes have been listed in Aptos. The highest new Listing is 383 Beach Drive at $5,200,000. The lowest new listing is 1260 Trout Gulch Road at $599,000. The market snapshot as of 3/09 shows 39 Active Listings in Aptos (34 SFR, 3 TH, 2 Condo). 36 homes have sold in Aptos since January 1. High sale is 161 Saint Andrews – 3 bed, 3.5 bath, 2687 Sq. Ft. with an ocean view – 81 days on market (DOM) – closed ...

Aptos Times - March 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 ...

Aptos Times - February 2018

February 15, 2018
Hello fellow Aptosians. In January, 21 homes sold in Aptos. As of 2/04, there are only 26 Active listings – about a one month inventory.  Of the 26 listings, only 7 homes are listed for

Aptos Times - January 2018

January 15, 2018
2017 Real Estate sales transactions were flat compared to 2016, but the Median Sales Price jumped significantly. Santa Cruz County Median Home price is now $840K, a 7% increase over 2016. In Aptos, the Median Home price rose 16% from $865K in 2016 to $1,000K (yup, that is $1 million dollars!). Condo prices went up 18% and Townhome prices went up 4%. The highest sale was $5.7M - 618 Beach Drive, 4Bed/3Ba/2192SF. I represented the Buyers on the highest non-beachfront sale; 631 Quail Run sold for $3.1 million –a bank-owned property with ...

Aptos Life - January 2018

January 01, 2018
APTOS LIFE – REAL ESTATE UPDATE – 2017 It has been quite a year - in real estate, and in so many ways! 2017 saw flat sales transactions overall but an increase in sales volume. In 2016, total volume for Santa Cruz County (SCC) was $15.6B on 1754 home sales, 200 townhome sales and 285 condo sales. The Median Home sales price was $785K. In 2017 (through 12/15), total SCC  volume is $16.5B on 1756 homes sales, 193 townhome sales and 277 condo sales. The Median Home sales price is now at $840K, a 7% increase year over year. So, number of sales ...

Aptos Update - November 22, 2017

November 22, 2017
Aptos Life Article – November/December Winter is coming…. But the Real Estate Market is still in full swing here in Aptos. Currently (11/22/17) there are 55 homes, 11 condos (all Seascape Resort which you cannot live in full time) and 1 townhome on the market. That compares to sales in the past 90 days of 101 homes, 7 condos, and 7 townhomes, so we are running at about 2-weeks inventory. This compares to Santa Clara County inventory which right now is at about one week, meaning zero inventory in general. Aptos home sales in the past 90 ...

Aptos Update - August/September 2017

September 17, 2017
Aptos Life Article – August/September Summer is over, but Aptos real estate is still going strong. There are 77 homes, 18 condos, and 6 townhomes on the market right now (9/17). That compares to sales in the past 90 days of 72 homes, 18 condos and 9 townhomes, so we are running at about 3 months inventory. This compares to  Santa Clara County inventory which right now is at 16 days and average Days on Market over the hill is