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
Authored by Jessica Wallace, Santa Cruz Realtor
Your Santa Cruz Realtor - Jessica Wallace (831) 419-9345
I'm Jessica Wallace - Your Santa Cruz Realtor - You can reach me anytime at (831) 419-9345 or via email at cjess4homes@yahoo.com
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DRE 01455690 - Coldwell Banker Residential Real Estate
Sounds like a great deal Jessica, I have some great memories of living in Boulder Creek, I also remember living within the strict confines of Santa Cruz county government. Best wishes for a great 2010
I would think not much - even these days. Santa Cruz is a beautiful place to live. The ocean is so close... ah the ocean. Gee! I had almost forgot about the ocean!