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Year End Home Sales Prices around Santa Cruz
Scotts Valley Single Family Home Sales, 2010
11 homes sold in December 2010 at an average price of $767,400, a strong showing compared to the 8 homes that sold in November at an average price of $576,875. 128 homes sold during the year, with a minimum sales price of $30,600 for a red-tagged bank owned structure up to a maximum of $3,000,000 for a 6 bedroom home on about 10 acres. The average list price was $788,266, while the final sales price averaged $764,512, just 1 % shy of last year's average.
111 homes had sold in 2009, with a minimum sales price of $223,900 and the highest price $3,000,000. The average final sales price was $771,397.
San Lorenzo Valley Single Family Home Sales, 2010
16 homes sold in December 2010 at an average price of $312,716, a weaker showing when compared to the 16 homes that sold in November at an average price of $350,750. 236 Homes sold during the year, with a minimum sales price of $28,000 for a cabin in Boulder Creek up to a maximum of $800,000 for a six bedroom home on 18 acres, also in Boulder Creek. The average list price was $380,481 while the final sales price averaged $371,446, just 3 % shy of last year's average. SLV lies along Hwy 9, between Boulder Creek and Felton.
404 homes had sold in 2009, with a minimum sales price of $65,000 and the highest price $900,000. The average final sales price was $383,675.
Santa Cruz Single Family Home Sales, 2010
34 homes sold in December 2010 at an average price of $637,339, stable when compared to the 44 homes that sold in November at an average price of $641,332. 403 homes sold during the year, with a minimum sales price of $250,000 for a fixer upper on 8th Avenue up to a maximum of $3,800,000 for a 5 bedroom beach front home. The average list price was $696,608, while the final sales price averaged $675,994, just 1.7% shy of last year's average.
400 homes had sold in 2009, with a minimum sales price of $150,000 and the highest price $5,125,000. The average final sales price was $708,410.
copyright 2010 |
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January 13, 2011 3:57 pm | Permalink
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Foreclosures Dropping in Santa Cruz County
As of November, Notices of Default have fallen 22% year over year, while Notices of Sales have fallen 17%.
Source:
http://www.foreclosureradar.com/california/santa-cruz-county-foreclosures |
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December 16, 2010 1:03 pm | Permalink
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109 Experts' Opinions on 2011 Housing Market
According to an article in the Chicago Tribune, a survey of 109 economists done by Yale University professor Robert Schiller's company came out equally divided between those who believe the housing market will recover in 2011 and those who think weakness will persist until 2012.
What's interesting is not so much that the optimists are predicting price increases of 14%, it's that the pessimists are predicting price increases of 3%. So even those economists who put a recovery out to 2012 still project home prices are rising.
Put that together with the fact that interest rates have risen about 1/2% in the last week, and you have reason to consider that the overall costs of homeownership may rise next year for new purchases.
Read More:
http://articles.chicagotribune.com/2010-11-12/classified/sc-cons-1111-umberger-20101112_1_housing-rebound-macromarkets-llc-optimists |
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December 14, 2010 11:10 am | Permalink
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30 Year Mortgage Interest Rates Hit 6 Month High
Average rates for the 30 year fixed rate conventional loan rose to 4.89%, their highest levels in six months, according to BankRate.com today. Earlier this year, some of my clients were able to lock in rates right around 4%, so this is a significant rise.
This could be related to the slightly better than expected new unemployment claims falling to a 2 year low, or perhaps it's the inflationary effect of the Fed's QE purchases of bonds, or global uncertainties. |
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December 9, 2010 2:45 pm | Permalink
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Light up the Valley!
Light Up the Valley is an annual Holiday Lights event and fundraiser in the San Lorenzo Valley.
The deadline to enter is December 8th;
the light viewing and judging is on December 11th, and
the Pot Luck and Awards Ceremony is December 12th.
Proceeds benefit Valley Churches United Missions
in their annual Valley Christmas Project.
The contest awards banquet on December 12 at 5pm features a potluck dinner, local entertainment, cash prizes, raffle prizes and Santa.
Contest entry forms are available from the San Lorenzo Valley Chamber of Commerce.
More info: Ann Marie 338-6833, 359-6729, lutv@slvchamber.org.
San Lorenzo Valley Chamber of Commerce
831-345-5972
info@slvchamber.org
http://www.slvchamber.org/ |
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December 4, 2010 9:29 am | Permalink
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November Market Update for Santa Cruz County
Here are the latest home sales price statistics, based on sales through the MLS (mlslistings.com).
In Santa Cruz County, the average Home Sales Price was $554,860, compared to $562,554 in October. 120 homes sold in November; 124 in October. The average listing price was $582,254, and the average discount from list price remained relatively stable at 5%.
San Lorenzo Valley:
18 homes sold last month for an average of $301k. The high was $705k for a 3 bedroom Boulder Creekhome on 10 acres; the low was $60k for a shack and a studio cabin with red tags on an acre in Ben Lomond.
7 of the 8 lowest priced homes were foreclosures, causing considerable drag on prices.
10 of the 18 homes sold were foreclosures; 2 were short sales. Only 33% were normal sales, as sellers who can afford to continue to wait for an improved market before they sell.
3 homes sold in Felton, CA, priced between $425,000 and $475,000.
Scotts Valley:
8 homes sold in Scotts Valley at an average price of $577k. Prices ranged from a high of $875k to a low of $440k, indicative of the more homogeneous inventory of more modern homes compared to the San Lorenzo Valley.
3 were foreclosures and 2 were short sales. 38% were normal sales.
Santa Cruz:
39 homes sold in November at an average price of $636,766.
5 of the homes were foreclosures, 6 were short sales. 72% were normal sales.
In November of 2009, there were 189 homes sold county wide, with the highest sales price of $2,450,000. This year, the highest sales price was $2,375,000.
In November of 2009, there were 189 homes sold county wide, with the highest sales price of $2,450,000. This year, the highest sales price was $2,375,000.
Curious what your home is worth? I offer a free, no hassle, internet evaluation. Just Click on the Buyers/Sellers tab, or copy and paste this into your browser:
www.HomeValues24-7.com
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December 2, 2010 3:12 pm | Permalink
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Right Price, Right Rates, Right House
This is such a great time to be a buyer....it's like the world is your oyster!
Don't make the mistake of waiting, trying to time the market perfectly - even the experts on Wall Street agree that's nearly impossible. Just look in your heart and decide if you really want to own a home of your own. Or maybe your housing needs have changed to the point where you are uncomfortable and need a different home. First time buyers: focus your analysis on comparing todays low mortgage costs, including the tax advantages, to your monthly rent. I can help you with these calculations. If the numbers make sense, and you qualify for a loan, then let's go shopping for the home of your dreams. Chances are, we've already passed the "bottom of the market" here in California.
* There is a wider variety of homes on the market now, including a mix of REOs, short sales, and conventional or non-distressed homes for sale. This means that you have more to choose from than in the past two years.
* The ratio between home price and income is at the lowest level in 10 years: There was a 10-to-1 ratio between the California median price and the California median household income during the last peak. That ratio has since fallen to 5-to-1, a level that has not been seen in at least 10 years.
* Monthly payments are lower, as mortgage rates remain...at their lowest levels in more than 50 years, dramatically lowering monthly mortgage payments.
* The median price of an existing, single-family detached home sold in California during September was $309,900 ... up 4.5 percent from the $296,610 median price recorded for the same period a year ago, according to the CALIFORNIA ASSOCIATION OF REALTORS?' (C.A.R.) September sales and price report.
* September 2009 marked 11 consecutive months of year-over-year price gains in California.
* In Felton, 22 homes sold in the first quarter of 2010, the average price was $416,000. The highest was $745,000, the lowest was $159,000.
* In Felton, 20 homes sold between July 10th and November 10th, at an average price of $435,000. The maximum price was $750,000; the minimum $196,000.
Sources:
CALIFORNIA ASSOCIATION OF REALTORS?' (C.A.R.) Market Matters
Price statistics from MLSListings.com
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November 10, 2010 4:45 pm | Permalink
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Hope for California's Distressed Homeowners
Housing Update
California expects mortgage-aid program to begin in weeks
The California Housing Finance Agency (CalHFA) reported this week that its "Keep Your Home California" program will be delayed because of logistical issues with the program. The program was scheduled to begin Monday, Nov. 1.
? The "Keep Your Home California" program is a $1.83 billion government aid program that will pay down loan balances and provide monthly cash assistance to struggling California homeowners.
? One of the logistical complications that has caused the delay is the fact that Fannie Mae and Freddie Mac last week instructed their loan servicers to participate in the program, dramatically increasing the number of potentially eligible homeowners.
? Funded with federal money, the program offers four different types of cash assistance for an estimated 100,000 low- to moderate-income California homeowners. Additionally, eligible borrowers must have endured some sort of loss of income.
? The two primary forms of aid include $875 million dedicated toward unemployed Californians who need help making their monthly payments, and $790 million to be used to directly reduce mortgage loan balances.
? Although the program has been delayed for several weeks, homeowners struggling to make their mortgage payments are advised to not wait for assistance programs to begin before contacting their servicer or lender. Instead, homeowners should begin working with their lender or servicer at the first sign of difficulty.
? More information about the "Keep Your Home California" program can be found at www.keepyourhomecalifornia.org. A toll-free hotline soon will be established.
Read the full story:
http://www.sacbee.com/2010/11/02/3151100/california-expects-mortgage-aid.html
CAR Newsline
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November 8, 2010 11:54 am | Permalink
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