Santa Cruz County Home & Community Information

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.

WOODS COVE - SANTA CRUZ GATED HOME COMMUNITY- MARKET REPORT 2011

Woods Cove is a Santa Cruz Gated Home Community located off of Graham Hill Rd, half way between Scotts Valley and Santa Cruz.  Woods Cove is a fairly new development (for Santa Cruz), most homes are less than 10 years old.

Let's take a look at the homes sales in Woods Cove - Santa Cruz Gated Home Community in 2011:

Two homes sold in Woods Cove this year, for an average sale price of $1,411,000.  Both were large, executive style homes with an average square footage of almost 5000 square feet.

There is one home for sale in Woods Cove, it is listed for $1,795,000.

Two homes in Woods Cove, gated community in Santa Cruz are in escrow.  One of these gated homes is a short sale.  Yes, even in upscale gated home communities there are short sales and foreclosures.  The short sale home in Woods Cove is listed at $1,250,000 an is over 5000 square feet with 5 bedrooms and 5 1/2 bathrooms.

Woods Cove is a lovely gated home community in Santa Cruz with large, luxury homes on spacious lots.  Contact me for more information about buying in Woods Cove or what your home is worth in today's market.

Soquel Knolls Condos - Soquel Condos Sales Market Report 2011

The Soquel Knolls Condos are located off Wharf Rd, close to Soquel Village and 41st Ave Mall.  The Soquel Knolls condos are set on a hill above Soquel, in a quiet, peaceful location with landscaped grounds and great pool area.

Let's take a look at Soquel Knolls condos sales activity for 2011:

There were 3 Soquel Knolls condo sales in 2011 with an average sale price of $252,000. Of these 3 condo sales, one was a foreclosure condo, one was a short sale condo and the other was a regular sale.  All were 3 bedroom condos.  Soquel Knolls condo prices are down compared to 2010 when the average condo sale price was $295,000.

Currently there is one short sale in Soquel Knolls that is in escrow and one condo active on the market, both are 2 bedroom condos.

Soquel Knolls condos have declined in price over the past years due to short sales and foreclosures.  These Soquel condos for sale present a great opportunity for first time home buyers to live in Soquel at a lower price.  Contact me for more information about Soquel condos for sale and the Soquel Knolls at (831) 419-9345 or cjess4homes@yahoo.com.