Santa Cruz County Home & Community Information

GOING SOLAR MAY BE EASIER THAN EVER IN SANTA CRUZ AND CALIFORNIA

If you thought going solar would be out of your reach, California and Santa Cruz are working to implement programs that can help homeowners Go Solar.  A recent article in the Santa Cruz Sentinel stated that a grant has just been finalized from the Federal Government to help make solar energy available to cash strapped homeowners.  This grant will pay for the administration costs for a new program that would allow a homeowner to finance the cost of going solar by adding it to the individual homeowners property tax bill. 

This program is slated to start by Summer 2010 in Santa Cruz County and would allow a homeowner to finance up to $35,000 to put solar in their home and allows businesses up to $75,000 to put in solar.  You would pay back this loan through your property taxes on a 20 year term with interest rates between 7-8%.  Considering the high cost of energy bills this financing for solar would most likely more than pay for itself for most homeowners.  In Santa Cruz County contact Allterra about going solar and what rebates and financing are available to you.

I think this is a great program, not only will more homeowners be able to go solar and help the environment, jobs will be created on a local level in Santa Cruz County.  In addition to solar installation,  financing may also be available for energy saving home alterations like new heating systems, windows and doors.  Now more than ever it pays to be green!  To see what the cost may be to install new window & doors and make your home more energy efficient contact Santa Cruz Construction.

HOME PRICES IN LIVE OAK, CA - A Neighborhood in Santa Cruz County

Live Oak is a part of Santa Cruz County, CA that lies between the Seabright/Yacht Harbor area and Capitola, CA.   According to the 2000 census there were almost 17,000 people living there at that time.  Live Oak is not its own city like Capitola or Scotts Valley but it is an area in Santa Cruz that has its own characteristics and attributes.  There are some lovely beaches in Live Oak, like Sunny Cove at the end of 17th Ave.

Within Live Oak there are suburban type neighborhoods with more moderate home prices for the Santa Cruz area.  There are also ocean front beach homes that sell for millions of dollars.  In 2009 the highest home price in Live Oak was a beach front home that sold for $5,125,000.  The lowest home sale in 2009 in Live Oak was major fixer for $150,000.

Let's take a look at home prices in Live Oak over the past 2 years 2008 & 2009.

Graph of Median Home Prices in Live Oak 2008-2009

As the graph above illustrates home prices in Live Oak have fluctuated throughout the past 2 years showing a slight trend downward.  The median Live Oak home price in 2009 was $595,000 which is down from 2008 when the median home price was $650,000.  With the drop in home prices the number of sales started to grow in 2009:

Graph of # of Sales in Live Oak in 2008-2009

The total # of single family homes sold in Live Oak in 2009 was 145 which is way up from 2008 when only 100 homes were sold in Live Oak.  As home prices decreased more First Time Home Buyers have been able to afford homes in Live Oak and there has been interest from investors as well.  Currently there is not a lot of inventory and demand has risen with the first time buyer tax credit and great interest rates. 

For those interested in buying a home in the Live Oak area visit here to Search for Your Live Oak/Santa Cruz Home and you will receive accurate and up to date information about homes including foreclosures.

For a more detailed look at a specific neighborhood or price range in Live Oak or Santa Cruz please Contact Me.  I also wrote a recent blog about Santa Cruz County Home Prices as a whole and as well as Capitola Home Prices and Soquel Home Prices.

* All stats and graphs from Claurs Market Metrics and MLSListings.com

SANTA CRUZ WINTER STORMS ARE HERE!

The last few days Santa Cruz, CA and all of California has been hit by some pretty strong winter storms.  In general the weather in Santa Cruz is pretty mild year round.  Our summers never get too hot because of nature's air conditioning: the coastal fog.  Winters we do get rain but not a ton like further North in California or in Oregon and Washington States.  The weather in Santa Cruz is pretty ideal but when a winter storm hits many love to go down to the beach and watch the ocean.  It becomes a roiling mass of waves and white caps often crashing over seawalls and cliffs in dramatic fashion.

I went down to West Cliff Dr this morning to see how this winter storm was affecting the ocean.  I saw several fallen trees on the way and power lines down.  One tree fell right on a car and a home, luckily no one was injured.  I took a few more pics along the way:

Stay dry out there everyone!

Search for Santa Cruz Homes

ARTISTIC SPANISH STYLE 4 BEDROOM HOME FOR SALE IN APTOS, CA

The living room in this Aptos 4 bedroom home for sale has dramatic two story windows letting in light and views.  Beautiful dark hardwood floors compliment the white walls and dark window trim. 

The back yard has terraced brick walkways and

patio areas keeping true to the Spanish Style

of the home. 

Beautiful setting for summer BBQs and fun.

This 4 bedroom home for sale would be a great place to raise a family and serve as a sanctuary for one to come home to. 

There are many great properties in Santa Cruz County and Aptos.  Start here to Search for your Santa Cruz County Home. You will find accurate & up-to-date information about homes for sale in Santa Cruz County & Aptos as well as Foreclosures.

Feel free to Contact Me for more information about this home or any other homes for sale in Aptos or Santa Cruz County.

* This Aptos home SOLD in 2010 for $495,000

HOME PRICES IN CAPITOLA, CALIFORNIA - REAL ESTATE MARKET REPORT

In this article I will take a look at home prices in Capitola, CA over the past year of 2009.  This is a follow up to a recent blog I wrote about Santa Cruz County Home Prices that took a look at home prices in Santa Cruz County as a whole.

Capitola, CA is a small city in Santa Cruz County of about 2 square miles and a population of 10,500, which probably triples in the summer months with all the visitors.  Capitola is a picturesque beach town with a European feel and look.  There are some great events in the fall like the Capitola Art & Wine Festival  and the Begonia Festival.  Homes in Capitola range from small beach homes built early last century as summer cabins to large, modern ocean view homes.  Home prices in Capitola can also vary widely as there are multi-million dollar homes and property that sells for a more modest price.  Let's take a look at the median home prices over the past year of 2009.

Graph of Median Home Prices - Capitola, CA 2009

There are a relatively few single family homes sold each month in Capitola (about 3-5) so as you can see in January 2009 the median home price was much higher because of an higher than average sale.  In 2009 the median home price for the entire year was $628,000.  That is higher than Santa Cruz County as whole which in Dec 09 hit a median home price of $550,000.  There were 56 closed sales in Capitola in 2009 which is up from 2008 when there were 47 closed sales.

Graph of # of Homes Sold in Capitola, CA 2009

Home prices in Capitola are down from 2008 but seem to have held pretty steady in 2009.  The months supply of inventory in December 2009 was only 3.3 percent which indicates that homes are selling faster and there is less inventory.  With these conditions historically home prices have tended to rise.

Certain neighborhood and prices ranges in Capitola have different characteristics, if you have one that you would like more detailed information about please contact me or call 831-419-9345.

 To read about less expensive Capitola Real Estate visit here:  Capitola Condos

Home Prices in Soquel, CA - Real Estate Market Trends in 2009

In response to the many inquiries I received after my posting about Santa Cruz Home Prices for more detailed information about specific areas in Santa Cruz County I will be writing a series of posts about home prices in the various areas in Santa Cruz County.

Soquel is a small area in Santa Cruz County of about 1.1 square miles.  It has a quaint main street with antique shops and good restaurants.  Some of my favorites are Tortilla Flats and Michael's on Main.  As of the 2000 census there was just over 5000 people residing in Soquel.  There is not a huge volume of sales in Soquel since it is such a small area so home prices can vary widely month to month.   Let's take a look at the median home price trends in 2009 in Soquel.

Graph of Median Home Prices in Soquel, CA 2009

In this graph you can see that the median home price can be much higher some months than others, this data can be skewed easily if there was just 1 over million dollar sale.  There are some beautiful homes and estates in Soquel that sell for well over 1 million dollars.  There were 76 total sales on single family homes 2009.  That is up from 2008 when there were 55 home sales.  The median sale price for all of 2009 was $570,500.

Graph of Monthly Supply of Inventory in Soquel 2009

Monthly supply of inventory refers to the amount of months it would take to sell all the homes currently listed on the market at the current rate.  6-8 months reflects a 'normal' market.  Under 6 months of inventory indicates that prices are likely to rise.  Over 8 months indicates more of a buyer's market.  You can see in the graph above that Dec 08 had 12 months of unsold inventory whereas in Dec 09 there was about 7 months of inventory so we seem to be heading towards a more balanced market.

For a more detailed look at home prices in Soquel or any other area in Santa Cruz County feel free to contact me.

*All stats and graphs are from Clarus Market Metrics

Santa Cruz Real Estate Market Report - Comparing Santa Cruz Home Prices 2008-2009

What a year it has been in Santa Cruz County Real Estate!  I have helped many 1st time buyers get into homes as well as worked with Investors and found some great rental properties.  Santa Cruz County is such a unique area with many small micro communities that have vastly different pricing and attributes.  In this article I will give you an overall look at Santa Cruz County Real Estate Market Statistics comparing 2008 to 2009 to try to see where we are headed for 2010.

First of all everyone wants to know, what are Santa Cruz home prices doing & where are they headed?  Well in 2008 we the median price declined but end of 2009 prices started to climb again.  For example the median home price in December 2007 was $716,500.  In December 2008 it was $455,000.  The median home price in Santa Cruz County right now is about $550,000.  The graph below charts Santa Cruz Median Home Prices from Dec 2007 to Dec 2009:

MEDIAN HOME PRICES, Santa Cruz, CA 2008-2009

 A very good indicator of where Home Prices are heading is the Monthly Supply of Inventory.  This is the amount of months it would take to sell all the homes currently listed for sale in an area.  In general if there is a 6-8 month supply of inventory you can expect prices to be stable.  Over 10 month supply indicates a Buyer's market and under 4 month supply indicates a Seller's market with prices likely to rise.  In December of 2007 there was a 15 month supply of inventory, December 2008 there was a 11.2 month supply and in November 2009 5.6 Months! 

Month Supply of Inventory - Santa Cruz, CA 2008-2009

And finally we have Supply vs. Demand which I'm sure everyone remembers very well from Statistics class :)

Home Supply in Santa Cruz County is down 41% and Demand is up 85% comparing Dec 07 to December 2009!  That is the number of Homes Sold is Up 85% and the number of Homes for Sale is down 41%

Supply vs Demand Santa Cruz County (For Sale vs Sold) 2008-2009

For now, median home prices have begun to rise in Santa Cruz County.  What I have seen this past year in my experience in the field is that the lower end of the market is very busy with multiple offers common.  First time buyers and Investors are driving this demand.   Many of the foreclosures that are coming on the market are under-priced so that the bank can sell them quickly and these are attracting multiple offers.  The sale price is often more than what the bank listed the home for but overall the buyer is still getting a great deal. 

Santa Cruz County is very diverse and all the different neighborhoods and price ranges have their own sub market conditions.  For example: Homes in Santa Cruz County priced over 1 million dollars had a 16.8 month supply of inventory in December 09.  That is down from December 08 when there was a 22 month supply of inventory but it is still moving slowly and we are likely to see more price declines in homes priced over million dollars.  For more detailed information about market trends in a specific neighborhood or price range contact me. 

I expect to see many great buys coming up this year for 1st Time Buyers as well as Investors.   If you would like to recieve up to date and accurate information about new listings in Santa Cruz County including foreclosures please visit here:  Start your Santa Cruz Home Search  or contact me and I will send you the homes best suited to your needs.

Feel free to contact me anytime, I will be happy to speak with you about Santa Cruz Home Prices and help you buy or sell your next home!

 *All Stats and Graphs about Santa Cruz home prices are from Claurus Market Metrics

WHAT DOES AN $84K HOME IN SANTA CRUZ COUNTY LOOK LIKE?

Believe it or not you can buy a home in Santa Cruz County for $84k.  I sold one just last November.  I believe I now have the record for the lowest priced home in Santa Cruz County sold in the last 15 years in my office.  The property is located in Brookdale up Highway 9 in the San Lorenzo Valley area.  This is an area of lower priced homes in Santa Cruz County.  Even being in the lower prices ranges of Santa Cruz County the San Lorenzo Valley area had average sales price of $361,138 in the 3rd Quarter of 2009 (data from MLSListings.com).  This home was featured in a recent article in the Santa Cruz Sentinel about home prices.  The median home price in Santa Cruz County is now $550,000.

So what did this $84k home in Santa Cruz County look like?  Well to start with it was a foreclosure which you might have guessed by now.  In 2004 this home sold for $322,950!  Secondly it is pretty small 2 bedroom home at just under 800 square feet.  Also the lot size is very small making it impossible to add on to in the future.  Lastly and perhaps most important factor for this pricing was that is was red-tagged.  This means that there was a violation recorded at the County.  When there is a red-tag on a property you cannot obtain a loan so it must be an all cash transaction.  This really shrinks the buyer pool for a home.  My clients with cash love these 'red tag specials' because they know they can buy a home with a deep discount.  This is not for everyone, you really need to know what you are getting into and how to work with the County to get a red tag removed.

This home had a red tag for an illegal front porch that was put on by the previous owner.  This is a relatively easy fix for my clients, they removed the porch and cleared up the red tag.  So for $84k I'd say they got a great price on this home in Santa Cruz County!  There are some other properties for around this price point but they usually have much bigger problems like hillside erosion, broken septic, trashed home, the list goes on . . .

Yes you can buy a home in Santa Cruz County for a modest price but be prepared to do some work and have cash on hand.  Many of these deals require all cash and you will need some $ to fix any problems with the home.  Start here to Search for your Santa Cruz County Home

COMMUNITY OF SCOTTS VALLEY - SCOTTS VALLEY HOMES FOR SALE

Scotts Valley is a small city located in the County of Santa Cruz, nestled in the foothills between Santa Cruz and San Jose, right off Highway 17.  This location makes it a wonderful commute location for those employed in the Silicon Valley, San Jose areas.  With a relatively small population of under 12,000, Scotts Valley offers a small town feel with easy access to larger metropolitan areas.  Homes for sale in Scotts Valley range widely.

There are many great activities in Scotts Valley, like hiking in the nearby State Parks (one is Henry Cowell State Park, golfing (there is a small 9 hole course great for beginners Valley Gardens), mountain biking, and more.  There are many nice restaurants and you are close enough to Santa Cruz to enjoy the nightlife and beaches there as well.

Homes for sale in Scotts Valley really offer something for everyone.  There are traditional suburban neighborhoods close in to town and further out you can find some wonderful mountain estates.  Prices of these homes for sale can range widely from up to 5 million to the lower price range in the $300-$400k range.  It is not easy to find homes in this lower price range but with the increase in foreclosures lately there are some great buys out there.  The median sold price in November 2009 was $790,000, up just slightly from 1 year ago.

GRAPH OF MEDIAN PRICES OF HOMES FOR SALE IN SCOTTS VALLEY OVER 1 YEAR PERIOD NOV 08-NOV 09

Source:  Clarus Market Metrics

In short, Scotts Valley is a great community in a perfect location for those wanting to raise their families in a smaller town but not be too far from the action and work opportunities of larger cities.  Click here to Search for your Scotts Valley Home

SANTA CRUZ RENTAL MARKET 5TH MOST EXPENSIVE RENT IN THE NATION!

 In a recent report about the Santa Cruz Rental Market it was stated that Santa Cruz has the 5th most expensive rents in the Nation!  I know that we have a strong rental market but I was surprised at this.  According to the study by the National Low Income Housing Coalition to afford an average rent 2 bedroom apartment a Santa Cruz worker must earn $30.58 per hour.

The most expensive metropolitan area rental market, according to the report, is Stamford, Conn. A renter must earn $32.75 an hour to afford a two-bedroom apartment there. The San Francisco rental market ranked second at $31.88 per hour, followed by Honolulu rental market at $31.37, Westchester County, N.Y., at $30.96,  followed by Santa Cruz in 5th place at $30.58 per hour.

With these type of rents and home ownership affordability being the best in decades it is time to take a serious look at buying a home.  Low interest rates and negotiating buyer concessions are really helping people get into homes they could not have dreamed of owning a few years ago. 

Are you a first time buyer considering a home purchase?  Check out my article Tips for a First Time Home Buyer  and Santa Cruz First Time Buyer Programs

Looking to invest in rental property in Santa Cruz?  Go here to see some of the Santa Cruz investment properties for sale.  Contact me for the best Santa Cruz investment property deals.