Santa Cruz County Home & Community Information

SEABRIGHT HOME VALUES - MARKET REPORT 2011

 Seabright is a great neighborhood in Santa Cruz, CA filled with charming craftsman, victorian, and beach bungalow homes.  People love to live in Seabright and be able to walk to Seabright Beach, Betty's burgers, the Seabright Brewery, Java Junction, La Posta . . .  Seabright is a classic California beach neighborhood. Home values in Seabright have remained fairly strong compared to many other areas over the past few years.

Let's take a look at Seabright, CA home values in 2011:

 There were about 38 homes sold in Seabright in 2011 with an average sale price of $753,000.  The highest priced home home sold in Seabright in 2011 was a 4500 SF oceanview, craftsman style home that sold for $2,660,000, all cash.

The lowest priced home sale in Seabright in 2011 was small, 2 bedroom foreclosure that sold for $360,000 on Frederick St.

Last year about 45% of all home sales in Santa Cruz county were short sales or foreclosures.  In Seabright this rate is much lower.  There were 3 Seabright foreclosure sales and 2 short sales in Seabright in 2011, which means that the percent of distressed home sales in Seabright is only 10%.  That is pretty great compared to the rest of the county and the state. 

Seabright is a highly desireable area.  There are full-time residents, commuters, and vacation home owners.  It is a great place to live and vacation and there is a large buyer pool for this area.

Contact me for more information about home values in Seabright, market trends, homes for sale in Seabright and community information.

SANTA CRUZ MOUNTAIN HOMES FOR SALE WITH LAND - 1 ACRE +

If you are looking for Santa Cruz county homes for sale with land, over 1 acre +, the best places to look are Aptos, Soquel, Corralitos, Scotts Valley, Bonny Doon, San Lorenzo Valley areas.  You can find some wonderful Santa Cruz mountain homes in these areas with room for gardening, horses and more.

The Santa Cruz mountains is a stunning place to live.  Some of these homes with land have distant ocean views and gorgeous mountain views, you can feel like you are in a remote place in Northern California yet be minutes to town and even be able to commute 'over the hill' to San Jose, Silicon Valley areas.

I have had many people call me that work in the San Jose, Silicon Valley that want to buy a Santa Cruz home with land in the Santa Cruz mountains.  They want a retreat home, somewhere to get away from the rat race and really relax.  Santa Cruz mountain homes with land are a wonderful place for that.  There great prices on homes with land right now and Santa Cruz county home prices are usually much less than in the Silicon Valley and you get more home and property for your money.

Buying a Santa Cruz home with land can be a labor of love.  When you have property there is more to maintain and you are usually on a septic and well system.  But nothing feels better than owning your piece of paradise in the Santa Cruz mountains.  

So what type of homes with land do we have in the Santa Cruz mountains?  Really anything you can think of!   We have rustic, early century redwood cabins, Spanish-style villas with infinity pools and ocean views, horse property, vineyards, dome homes, gardner's dream, organic farms . . . we have something for everyone in Santa Cruz county!

Contact me and we can talk about what your dream Santa Cruz mountain home with land looks like!

Santa Cruz Foreclosure Sales - Market Report 2011

We hear alot about foreclosures and bank owned sales all over the country.  But how many foreclosure sales are there in Santa Cruz county?  What percentage of all homes sales are foreclosures in Santa Cruz county?

Looking back at 2011, there were a total of 434 foreclosure sales in Santa Cruz county.  These are single family homes sold through the  MLS (multiple listing service) by banks are REOs or foreclosures.  In  2011, there were a total of 1821 single family homes sold in Santa Cruz.  This means that Santa Cruz county foreclosure sales made up almost 24% of our real estate market.

I am always asked by buyers about how to get a great deal on a foreclosure and if you can really low ball a bank when making an offer.  My answer is, it depends.  If you are an all cash buyer, you do have a better chance of getting a great deal on a Santa Cruz foreclosure.  If the home has a lot of issues, we can sometimes use that to get a big discount.  If there are multiple offers and the bank has underpriced the home in order to sell it quickly, I don't recommend making a low ball offer.

The median price of all Santa Cruz county foreclosures sold in 2011 was $330,000.  The median price of 'regular sales' (not foreclosures or short sales) in Santa Cruz county in 2011 was $565,000.  So you can see that Santa Cruz foreclosure sales are selling for less than regular sales.

I expect to see Santa Cruz foreclosure sales continuing in 2012 and beyond, but with a trend to more short sales than foreclosures or REOs.

Looking to buy a foreclosure?  Go here to see a current list of Santa Cruz County foreclosures for sale

SANTA CRUZ COUNTY HOME VALUES - MARKET REPORT 2011

Looking back at Santa Cruz County Home Values in 2011, the trend has been slightly downward, but not by much compared to the past 3 years.

The median home price for all of Santa Cruz County in 2011 was $465,000. this is down slightly from 2010 when the median home value in Santa Cruz was $520,000 but about the same as 2009 when the median Santa Cruz county home sold for $495,000.

GRAPH OF SANTA CRUZ COUNTY HOME VALUES 2009-2011

The number of Santa Cruz home sales is up in 2011, there were a total of 1821 single family home sales in 2011 in all of Santa Cruz County.  In 2010 there were 1598 SFR Santa Cruz county home sales.

Of the 1821 home sales in Santa Cruz County in 2011, 818 were short sales or foreclosures (REOs), which means almost 45% of all home sales in Santa Cruz were distressed sales.  That is a huge portion of our market.  I expect to see more short sales and foreclosures in 2012, but with a trend toward more short sales than foreclosures.  

Overall, more Santa Cruz homes are selling and at a slightly lower price than the previous year.  Santa Cruz home values are getting to be attractive to home buyers and first time home buyers are making up a large percentage of the market.  With the historic low interest rates and great deals on foreclosures and short sales, many people have decided that now is the time to buy.

Contact me for more information about Santa Cruz home values in your neighborhood or city.

SANTA CRUZ USDA LOANS - 100% FINANCING

Santa Cruz USDA loans or United States Department of Agriculture Loans are loans that offer 100% financing to buy a property.  To buy a home with a USDA loan you must meet the income requirements, and not make too much or too little money.  For income limits in Santa Cruz, contact me.

You cannot use a Santa Cruz USDA Loan to buy a home just anywere in county.  USDA loans are for 'rural properties' so buying in the city of Santa Cruz or Watsonville is not an option.  I have seen Santa Cruz USDA loans used in the San Lorenzo Valley (Boulder Creek, Felton) and there are many other 'rural' areas in Santa Cruz county you can use the USDA loan.  You can go here to see a Map of eligilble areas for USDA loans in Santa Cruz

A USDA loan is not just for agricultural properties, you can actually buy a real home in Santa Cruz with a USDA loan, if it is in the designated areas and you qualify. 

Contact me for more information about Santa Cruz USDA loans 100% financing and Santa Cruz First Time Home Buyer Programs.

SANTA CRUZ HOMEPATH  LOANS

Santa Cruz Homepath loans are great loans for first time home buyers as well as investors in Santa Cruz county.  Homepath loans can only be used on Fannie Mae owned properties, so you cannot use a Homepath loan on any foreclosed home in Santa Cruz, just a Fannie Mae foreclosure.  While there are not a ton of Homepath homes for sale now, there are more and more coming on the market.  Some of my clients were able to use Homepath loans this year to buy a home in Santa Cruz with great results!

Here are some of the features of Santa Cruz Homepath loans:

The downpayment can be as low as 3% down

NO PMI – Private Mortgage Insurance – This will save you lots of money over time if you are putting less than 20% down on a home.

NO Appraisal

HomePath Loans are available for owner occupants as well as investors.

There is a HomePath Renovation Loan which is similar to an FHA 203k loan or fixer loan.  A HomePath Renovation Loan will lend funds for the purchase of the home and to fix up the home.  Homepath will lend up to $35,000 to renovate the home.

If you are a first time home buyer, read my article Santa Cruz First Time Home Buyer Assistance Programs for more info about how you can qualify to buy a home.

Contact me for more info about HomePath loans and available HomePath homes for sale and foreclosures for sale in Santa Cruz.

CAPITOLA HOMES FOR SALE – MARKET REPORT 2011

Capitola is a small beach town located in Santa Cruz County and is one of the most desirable places to live on the West Coast.  Capitola attracts second home and vacation home buyers with its quaint atmosphere and easy beach living.  Capitola is a great place to live full-time and raise a family as well.  Capitola is a great community with many events and fun things to do like the Capitola Art & Wine Festival and Capitola Begonia Festival.  Let’s take a look at Capitola homes for sale and the sales activity in 2011.

Capitola Homes for Sale – Market Report 2011: 

There were 43 homes sold in Capitola in 2011, this number is down slightly from 2010 when 50 Capitola homes sold.

The average price of a Capitola home for sale in 2011 was $728,000 down from 2010 when the average home price in Capitola was $834,000.  Capitola homes sell for much higher than Santa Cruz county as a whole where the current average home sale price hovers around $450,000.

The highest priced Capitola home for sale in 2011 was an oceanfront lot in Depot Hill that sold for $2,200,000.

The lowest priced Capitola home for sale was a small 2 bedroom near 41st Avenue Mall that was a short sale home, it sold for $350,000.

You can find homes priced under $500,000 in Capitola and you will find short sale and foreclosures in Capitola along with multi-million dollar beach homes.  Capitola has some wonderful neighborhoods like the Jewel Box, Depot Hill and Cliffwood Heights.

Contact me for more information about Capitola homes for sale and Capitola community information.

WESTSIDE SANTA CRUZ CONDOS – Market Report 2011

The Westside of Santa Cruz is a great place to live, you are close to beaches, walks on Westcliff Dr, Santa Cruz Downtown, the Boardwalk, shopping and entertainment.  Westside Santa Cruz condos are great for first time home buyers and families of UCSC students.

Here is the Sales Activity Report for Westside Santa Cruz Condos 2011:

Westside Santa Cruz condo sale prices are down slightly in 2011 to an average of $312,000.  In 2010, the average price of a Westside Santa Cruz condo was $360,000.

The number of Westside Santa Cruz condo sales is up just a bit, there were 44 closed escrows in 2011, compared to 42 Westside condo sales in 2010.

The highest priced Westside Santa Cruz condo sale in 2011 was a 3 bedroom, ocean view condo on Beach Hill that sold for $690,000.

The lowest priced Westside Santa Cruz condo sale in 2011 was a small 435 SF, bank owned condo that sold for $170,000.

In 2011, 9 Westside Santa Cruz condo sales were short sales and 11 were REO or foreclosure condo sales.  This means that almost half of all Westside Santa Cruz condo sales were distressed sales.  This has attributed to lower sale prices for Westside Santa Cruz condos.

Buying a condo on the Westside of Santa Cruz can be a great option for first time home buyers, UCSC students and families.  Contact me for more information about condos and homes for sale in Santa Cruz.

CAPITOLA CONDOS FOR SALE – Market Report 2011

Capitola is one of the most popular beach towns on the West Coast, sometimes with real estate prices to match.  Captiola condos for sale offer a great opportunity for those who want to live in Capitola at a lower price.  Capitola is a great vacation area as well, and a low maintenance condo in Capitola may be your perfect beach pad.

Let’s take a look at the Capitola Condo Sales Activity for 2011:

The average price of a Capitola Condo in 2011 was $340,000, this is down slightly from 2010 when the average Capitola condo sold for $357,000.

The number of Capitola condo sales are up in 2011, there were a total of 45 closed condos sales in Capitola.  In 2010 there were 35 Capitola condo sales.

Capitola condos for sale are going into escrow more quickly than last year.  The average days on market in 2011 was 85, compared to 96 days on market average in 2010.

Capitola condos for sale are selling more quickly, for a slightly lower price and more condos are selling in 2011.  I attribute this to the fantastic interest rates we have seen this year and the great bank owned and short sale deals that are coming on the market.  I have sold several foreclosure or bank owned condos this year.  The banks tend to price their condos aggressively and my clients have walked away with some great buys.

Contact me for more information about Capitola Condos for sale, the value of your Captiola condos and Capitola community information, I am happy to help!

Capitola Shores - Capitola Condos – Market Report 2011

The Capitola Shores – Capitola Condos are located in the Jewel Box in Capitola, close to 41st Ave Mall and walking distance to Capitola Village.  The Capitola Shores condos are mostly 2 bedroom condos, the complex does have a pool and nicely landscaped grounds.

Let’s take a look at the condo sales activity in the Capitola Shores in 2011:

There have been 9 condo sales in the Capitola Shores in 2011, with an average sale price of $249,000.  Of these 9 condo sales, 2 were short sale condos and one was a foreclosure condo.

The lowest priced Capitola Shores condo sale was a unfinished 2 bedroom condo that sold all cash for $220,000.

The highest priced Capitola Shores condo sale was a single level, remodeled condo that sold for $271,000

There are 2 condos currently in escrow in the Capitola Shores, both are short sale condos.

The Capitola Shores Condos offer a great opportunity for buyers to live in Capitola for less.  They are low maintenance condos perfect for vacation or second homes.  The Capitola Shores are also great for seniors as there are single level condos and it is centrally located and walking distance to amenities and public transportation.

Contact me for a current list of Capitola Condos for sale or to find the value of your Capitola Condo.