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In this first edition of Real Estate Roundtable, REALTORS® Robert Aldana, Robert Cornejo, and Jonathan Rossi discuss the local market, price trends, and what to expect in each Scotts Valley neighborhood.
To watch the ONE HOUR program, click on the following link and feel free to chime in with your thoughts and comments about the program.
CLICK HERE TO WATCH
In late August of this year, homeowners Jason and Holly Zapala ran into an opportunity that they could not pass up, and that was buying a home next to Jason’s parents and being neighbors to them in Scotts Valley. It was a dream to them that they were not sure how they would be able to pull off. What happened next was just the beginning.
Their first step... (more)
In this short video, Robert Aldana gives an assessment of the current Scotts Valley area real estate market and gives information on how it compares to the same time last year, and what we should expect this year.
On January 30, 2017, Robert Aldana was notified by the Santa Cruz Sentinel that he was The Reader’s Choice for 2016 BEST REALTOR® in SCOTTS VALLEY.
“I do not know that I am the best REALTOR®, with so many wonderful agents in the area, but I strive to be the best that I can be everyday,” said Robert.
Robert, a 30 plus year real estate veteran... (more)
“Robert, I have been looking for a home for some time now and we just can’t seem to have any luck finding either finding a place, or getting our offers accepted. We look and look and when we find homes that we like, we immediately call the listing agent and have them show it to us and our agent is quick to respond with an offer but we keep getting beat out. Any... (more)
The Scotts Valley real estate market continues to thrive with a wave of buyers from Silicon Valley and beyond snatching up available homes at a pace that could lead a record breaking year in home appreciation.
Single Family Closed Sales YTD – As of this writing, May 13th 2015, the average list price for closed single-family homes is $799,606 and the average sales... (more)
If you were able to purchase a home this first quarter, you no doubt experienced a flurry of activity between home buyers as you tried to get your foot into the door of home-ownership in Scotts Valley.
Fueled by the coming of home buyers coming from Silicon Valley, many with cash, demand far outweighed supply once again resulting in an average sales price to... (more)
2014 was another banner year for the Scotts Valley real estate market as the average sales price of single family homes went from $749,325 in 2013 to $809,229, an increase of $59,904. There was also an increase in closed sales from 125 to 138 from 2013 to 2014 which represents a 10% increase. The sales price to list price ratio was 99%, meaning the sales price... (more)
In 2008, I was on an HGTV television show called “Sleep On It”, a show where I would show a family a property and they would get to sleep in the home they were interested in for a night to see if they still liked it the next day enough to buy it.
Although the show was on HGTV, and I was given a copy of the program, the producers of the network will... (more)
A few years ago, I was asked by the Association of REALTORS® to appear and speak on behalf of the industry on the importance of asking questions when you are a consumer, because it truly is extremely important to always know what you are signing and doing when buying,... (more)
New Listing Inventory Drying Up
November’s real estate activity in Scotts Valley, specifically in the 95066 zip code showed a lot less new homes on the market with more closings than new listings by a higher than 2-to-1 ratio as there were only 7 new residential listings that came on the market compared to 15 closings.
Of the 7 new listings, 3 were... (more)
SINGLE FAMILY HOMES
After two months of closings at about 97% of asking price for single-family homes in the Scotts Valley area, October closings came in at a crisp .998 of asking price. That is almost as close to 100% as you can get, and about a 3% difference upwards versus closings in August and September of this year. In other words, homes that... (more)
November 8th, 2014 – Robert Aldana, a resident of Scotts Valley since 1996 and REALTOR® since 1986 was recently awarded the Scotts Valley Man of the Year for 2014 for his contributions to the community.
“I’m feeling honored and humbled by this award, and feeling inspired to do even more for my commUNITY. There is a sense of responsibility when... (more)
Up and down, up and down. That is how the housing market goes according to the time of the year, and according to what interest rates are doing. As we go into the last quarter of the year, it appears that new inventory could be on the decline as 8 new listings have come on the market since October 1st. As of today, October 16th, that represents .50 listings per... (more)
Less Homes For Sale
The month of August was a month with less listings per day, with .87 per day, then just two months prior when June showed an average of 1.19 per day. This represents a drop in new listings on the market of 27% in just two months.
Of the 27 new listings, 22 were single-family homes.
8 of the new single-family home listings... (more)
Click to see spreadsheet in full screen
2014 Shows Similarities to 2013
2014 has been a banner year for the real estate market in and around Scotts Valley. Pretty much what was predicted by numerous real estate experts, including yours truly. You heard and read about the low inventory and how it was driving prices upwards as the supply just could not meet the... (more)
The numbers are out for May 2014 in the Scotts Valley real estate market and the numbers show the following interesting and important stats:
31 for 31 – There were 31 new listings in the month of May, one per day. The previous month, April, had 30 new listings in 30 days so the trend stayed even at 1 new listing per month in the past 61 days.
New Listings Stay... (more)
Want to know what’s hot and what’s not in the Scotts Valley real estate market?
Interest rates – they have come down averaging 4.18% for a 30 year fixed, and they are expected to hit 5% or more by next year according to many. Money is cheap right now.
Vineyards – only one for sale and it is pending. People are looking... (more)
In hot markets, such as the one we are in today, many home sellers think that they can ask just about any high price and the home will sell. However, over-pricing a home could be one of the most costly mistakes that home sellers can make. The following is the life and effect of an over-priced listing, and how it ultimately helps your competition.
Day 1-10: Euphoria... (more)
One of the biggest questions people have when wanting to sell their home is how to determine what their home is worth. Some homeowners will hire a professional appraiser to get the value of their home to determine what they should list their home.
Is this a wise move? I don’t think so. I think that you could be throwing $500 away, the average cost of an appraisal,... (more)
More Homes For Sale, But Still Not Enough for Waiting Home Buyers
The April real estate numbers for the Scotts Valley area are out and it was a month with rising inventory and a surge in pending sales from 21% on April 17th to 38% at month’s end. Much of the jump was the fact that many new listings came on the market in April that took 10-14 days to go... (more)
Throughout the years, many studies have been released that show how home-ownership rates affect families throughout the country. One particular report, (PDF file) done several years ago by the U.S. Department of Housing and Urban Development (HUD) captures and explains the wide-ranging benefits increasingly being attributed to home-ownership.
The report goes... (more)
The numbers are out for February 2014 and the figures show the Northern California real estate market continues it’s unprecedented roll of strong demand with very little supply causing many closed sales for the month many times to come in above asking price for many single family homes. Condo-townhouses, which were in very short supply, are also coming in strong... (more)
For many families, buying a home in a hot seller’s market has been extremely difficult, as the supply of available homes for sale has not even come close to meeting the demand that exists. More and more homebuyers are looking to get into the housing market with still very low interest rates, a better economy and the soaring of home prices that has taken place... (more)
If you are thinking of selling your home, even in this hot market where supply is just not meeting the demand, there are ways that you can still sell your home for a lot less than what it is worth.
Why would you want to do that? Maybe you are in the Christmas Spirit year round and you like giving things away. Or maybe you have just run out of space in your bank... (more)
02/05/2014 – In this first ever My Scotts Valley Podcast, I go over the latest real estate market report for Scotts Valley and surrounding areas, including Northern California and our State as it is all pertinent to our local market.
We shop at the local wholesale retail store and its always been a great place to shop, with good prices while buying in bulk.
I was at their store this week and I noticed that they now offer discounted mortgage loans to their members, and its capped at $600 in fees.
I want to buy a 2nd home now and I am already pre-approved for a purchase. But I saw... (more)
My parents would like to transfer ownership of their home to either me or one of my siblings. They’ve asked me to look into this. I’m not sure where to start. The home has been paid in full. Can you point me in the right direction?”
Ricardo – San Jose, CA.
Ricardo, in regards to transferring ownership of your parent’s... (more)
Think you can’t buy again after doing a short sale?
Think you can’t compete in today’s RED HOT housing market?
Think you have to over-pay for a home?
Think again. Don’t be afraid, be prepared and be ready because you really can be a success story with the right team around you.
Watch this 10 minute video and see for yourself. Homeownership... (more)
Whether it is a HOT or NORMAL Home Seller Market, there are clauses that should be incorporated in every contract to ensure home sellers maximize their profit in the sale of their home. This short video explains…
In a strong seller’s market, multiple offers are rampant throughout most areas. So are web-sites and news articles with tips on how to get your offers accepted in a multiple offer situation. Yet many buyers and agents just can’t seem to get it when it comes to making offers and they sit and wonder why they keep losing out on what they think are great offers.
In this report, I talk about the extension of the Mortgage Debt Relief Act that was extended by Congress and California’s version tat was NOT extended.
I also discuss California SB 931 and SB 458 bills for sellers who have to do a short sale.
I was wondering what your thoughts were in regards to buying a home today. What is your outlook for the housing market? We have seen prices jump recently and I was wondering if you think this will be a trend in 2013. Do you really think it is safe to buy a home as a good investment?
Ana – Morgan Hill, CA. December 10, 2012
Ana, this is a... (more)
Despite laws that have been put into place in California which prohibits the collection of Advanced Fees for loan modification services by real estate agents, their offices and attorneys, they continue to collect Advanced Fees.
Click here to read my article for DeadlineNews Group…
I just read an excellent, although short, article on CNNMoney.com on one way to tell if a home is fairly priced in a neighborhood by using a rent factor. I agree with the assessment. But what is missing is also is the correlation between prices and income in a particular area. Case in point; When prices skyrocketed, many areas had mortgage payments that were... (more)